CFMEU boss allegedly boasted of corrupt connections to $94b Cbus
Police allege a CFMEU official told corrupt building firms he could secure them lucrative jobs on projects financed by the superannuation giant.
- Live
- Need to Know
Harris consolidates support as polls show close race
Kamala Harris slams Donald Trump and outlines campaign promises after securing endorsement from Nancy Pelosi; New poll says presidency race “too close to call”. Follow updates here.
- Live
- Markets Live
ASX to rise as US tech rebounds, SEC approves spot ethereum ETF
Australian shares are set to open higher. Nvidia, Tesla pace a megacap tech rally. Transurban nabs Queensland deal. Copper hits a 3-month low. Follow updates here.
From NextDC to troubled Star – here’s where bankers won big fees
The country’s largest investment banks shared in an estimated $600 million payday – from capital raising to IPOs – in the last 12 months.
- Opinion
- US election
Why Trump’s perfect target is ‘woke’ Kamala Harris
The election centres on who scares voters the most. Republicans fear Kamala Harris will target white men, while Democrats say Donald Trump is a would-be dictator, writes Gideon Rachman.
EnergyConnect exit leaves just months to turn around crucial grid link
Elecnor, the Spanish contractor building part of the key link needed for the transition away from coal power, is expected to cease its involvement by the end of September.
Why Melbourne could beat other cities in the next housing upturn
Melbourne’s prolonged downturn is priming the city for a strong rebound when interest rates fall, experts say.
World View: Australia’s leading foreign experts interpret global events for you. Insights delivered every Wednesday.
RACE TO THE WHITE HOUSE
- Analysis
- US election
Trump faces harsh new reality in White House fight
The Republican’s fight against Kamala Harris for the presidency risks losing traction with some key constituencies, including women and voters of colour.
Kamala Harris swiftly clinches backing for White House run
The vice-president secured support from influential Democrat Nancy Pelosi and other stalwarts across the party as money poured into her campaign war chest.
- Updated
- US election
Democrats throw support behind Harris after Biden exit
Relieved Democrats were quick to rally behind the Vice President after President Joe Biden abandoned his re-election rematch against Donald Trump.
Can Kamala Harris beat Donald Trump?
In this special bonus episode of The Fin, United States correspondent Matthew Cranston on why Joe Biden pulled out of the presidential race, what happens next and whether Kamala Harris is the candidate to take on Donald Trump.
Democrats jostle to be Kamala Harris’ VP as race takes off
Leading Democrats swiftly fell into line behind Kamala Harris, as the Trump campaign team prepared to launch scathing attacks ads.
tuesday tech
- Exclusive
- Cyber security
Cyber is our fastest growing national security threat: O’Neil
The Home Affairs Minister says Labor’s plans to boost Australia’s defences against increasing online risks are already delivering results.
Why investors see an opportunity in CrowdStrike shares
Australian stock pickers say a plunge in CrowdStrike’s shares after it caused a global outage represents a buying opportunity, with slim cyber pickings on the ASX.
Huge cyber fines to be ‘Ford Pinto’ moment Australian business needs
The threat of business-crushing penalties could change the economics of storing sensitive data and cybersecurity investment.
Why business is left helpless when big tech stuffs up
Experts say there is little most organisations can do to avoid future calamities like the CrowdStrike outage, but Australia’s emergency responses are improving.
What it’s like to sell your tech start-up for $180m
For Frank Greeff, selling his real estate marketing company to Domain was the hardest thing he’s ever done, and after it happened he just went to bed.
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Companies
- Updated
- Mergers & acquisitions
Woodside splashes $1.35b in the US to become ‘global LNG powerhouse’
The acquisition of Tellurian will give the ASX-listed oil and gas company a foothold to develop exports in the booming US market for shipping natural gas.
- Updated
- Manufacturing
Environmental rules threaten survival of South32’s Worsley refinery
More than $1b was wiped off the value of South32 as it cut production guidance and warned forest protection rules threatened the future of a WA alumina refinery.
Nine CEO runs in Paris torch relay as strike action looms at home
Nine CEO Mike Sneesby waved happily to French locals hours after journalists in his publishing division voted overwhelmingly in favour of a five-day strike.
‘Incredible legacy’: business, political leaders on AFR chief’s departure
John Howard, Peter Dutton, Andrew Forrest and Jennifer Westacott are among those to pay tribute to outgoing AFR editor-in-chief Michael Stutchbury.
- Exclusive
- Private equity
PEP broadens investor access for fund that returned more than 15pc
The private equity firm is opening its Gateway vehicle, which has raised north of $500 million, to New Zealand’s wealthiest families.
Supplier survey suggests Coles has outperformed Woolworths all year
Ahead of financial updates from the major supermarkets next month, suppliers say Coles and Aldi are picking up market share over their rivals, small and large.
- Exclusive
- Managed funds
Taurus misled Phil King’s Regal in due diligence, former CFO claims
Andrew Sampson was made redundant from Taurus in March. He claims he was dismissed after raising concerns about the conduct of the commodities financier’s founders.
Companies in the News
Search companies
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Markets
Biden’s exit sends investors rushing to readjust ‘Trump trades’
Traders have poured into gold and are recalibrating their equities positions as a reset of the US presidential election creates uncertainty in the markets.
What happened overnight? The S&P 500 rebounded on Nvidia, Tesla
Australian shares were set to open higher as US investors opted to buy after last week’s tech-paced sell-off. Commodities slipped.
- Opinion
- Chanticleer
Trump v Harris: Seven ASX stocks to play the US election
Forget speculative Trump trades, the ramifications for Australian investors from the US election are likely to be much bigger.
- Exclusive
- Governance
Geoff Wilson battles against renewed push for virtual AGMs
The veteran fund manager has launched a fresh campaign with the backing of his 130,000 retail investors to save the physical annual meeting.
M&A arb fund Harvest Lane keeps a ‘blacklist’ of boards to avoid
Investor Luke Cummings has made a name for himself (and money) by trading M&A activity. But one deal that he’s steering clear of is the $8.8 billion Chemist Warehouse and Sigma merger.
Opinion
Why Trump’s perfect target is ‘woke’ Kamala Harris
The election centres on who scares voters the most. Republicans fear Kamala Harris will target white men, while Democrats say Donald Trump is a would-be dictator.
Columnist
Albanese can’t afford distractions now
The prime minister has to shrug off culture wars and Green taunts to focus relentlessly on an improving economy.
Former Labor minister and economist
Why Biden’s decision may be too late
The president risks being remembered for having provided Donald Trump the opening to retake the White House in November.
Columnist
Biden exits the Democrat dog’s breakfast
The question for Democrat hardheads will be whether Kamala Harris is a sufficiently compelling candidate to stop Donald Trump returning to the White House.
Editorial
It’s late in the day to sell Kamala Harris to America
US elections are decided by who shows up to vote. There is only the narrowest of windows to enthuse the public about a new candidate before November.
US political commentator
Australia goes missing as Red Sea crisis deepens
The Houthis have been remarkably persistent in disrupting global trade. But there is a deeper strategic cost to Australia as well.
Defence expert
Reports
Cybersecurity and AI
The federal government lays out plans to help boost the nation’s cyber defences, while experts outline steps to stay safe.
Politics
Albanese digs in amid calls for tougher action against CFMEU
PM says the ABCC failed to curb union militancy when it existed, and that the police were best placed to combat criminal behaviour.
King sets up infrastructure project review amid CFMEU scandal
Infrastructure Minister Catherine King has directed her department to review major construction projects including the Western Sydney Airport and Inland Rail.
Stressed teens would rather finish school with no ATAR than sit exams
Students at co-educational schools reported the highest scores on emotional and mental wellbeing, and girls-only school students the lowest.
Upfront nuclear power cost will be significant: Dutton
Solar energy and gas are the most popular energy sources. Nuclear is near the bottom, just ahead of coal.
Big tech domination leaves Canberra, states ‘highly vulnerable’
According to some estimates, Microsoft’s Windows and its 365 suite of office software run on more than 80 per cent of federal and state government computers.
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World
How a motley crew of investors won back $14b in bitcoin
For more than a decade, creditors of collapsed crypto exchange Mt Gox pushed back on Japan’s bankruptcy laws. Their efforts have paid off, big time, in bitcoin.
China cuts key interest rate after Xi’s top meet disappoints
China surprised markets with interest rate cuts on Monday, in efforts to boost growth in the world’s second-largest economy.
Did ‘meme magic’ create the American extreme right?
A new book, ‘Black Pill’, looks at the world of neo-Nazis and the way in which the online world has spilled into the real one.
China and the Philippines sign deal to avert clashes at sea
The rare deal with the Philippines sparks hope that similar arrangements could be forged by Beijing with other countries to avoid clashes while thorny territorial issues remain unresolved.
Big donors swing behind Kamala Harris with $41m
The vice-president is vetting potential running mates as she secures support from major Democratic Party funders.
Property
AustralianSuper, Hesta look to supercharge housing investment
The industry super fund giants have taken shared ownership of Assemble, which develops affordable rental and for-sale housing.
Westfield’s Paris shopping centres bid for an Olympic leg-up
Unibail-Rodamco-Westfield, the owner of Westfield malls in Europe, is looking for a spurt of extra visitors and a profit boost for its convention centres.
In this city, some home owners want to sell to locals only
Interstate investors are being overlooked to give locals a chance to enter Western Australia’s booming property market.
Historic pub to close after Rich Lister sells building, keeps pokies
Pub and pokies baron Bruce Mathieson exchanged contracts to buy the Captain Cook Hotel for $13.5m in late 2022. His BLM Group sold it this month for $6.6m.
‘Death clause’ triggers an extra $1.2m for vendor
“You’re not legally allowed to ask for a price reduction just because someone dies,” said the agent. But one buyer did – and then pulled out of the sale.
Wealth
There’s more to private credit than 10pc returns
Private credit is having a moment. It may offer high returns, but is it a space that retail investors should be playing in?
Revealed: Which super funds rate the best – and worst – for retirement
Superannuation funds are going backwards in terms of preparing their customers for retirement, new research shows.
- Opinion
- Superannuation
Spending a few hours on this now will make you richer later
Work through these 11 steps to grow your superannuation faster.
Technology
Samsung plans different shape for AI phones
Regular phones have peaked, but AI phones are going to need new shapes and sizes, says Samsung’s Mobile president, and it is already working on them.
- Opinion
- Cybersecurity
Global IT outage the wake-up call we needed
We can’t rely on luck to avoid these scenarios. We have to face the hard truths of cyberspace and to finally do something about them, writes Katherine Mansted.
- Opinion
- Cybersecurity
Digital paralysis shows the dangers of e-globalisation
Globalisation may be slowing, but e-globalisation is still accelerating. It is essential that, as far as possible, its dangers are minimised.
Work & Careers
From selling vacuum cleaners to running Booking.com in Australia at 33
Tod Lacey is one of the 2024 BOSS Young Executives. His first proper job was selling vacuum cleaners at a department store in Dunedin on New Zealand’s South Island.
This young exec wants to make sure his parents’ sacrifice was worth it
Gurbaj Pawar is one of the 2024 BOSS Young Executives. He is head of strategy and projects at insurance broker network AUB Group.
Life & Luxury
The ups and downs of flying business on Singapore Airlines
Great food and privacy in a large bed – if you can find a spot for your feet.
What Michael Kirby makes of the law school building named in his honour
The new Macquarie University Law School, designed by architectural practice Hassell, brings the legal faculty to the centre of the campus and into the light.
‘Paris is the perfect place for older women’
Sarah Wilson is living her dream life in a city she says treasures lively arguments and genuine curiosity over wealth and property. This is how she spends her weekends.
A new wave of Chinese watchmakers is taking on the Swiss giants
Thanks to the growing influence of young independents, watchmaking in China is no longer just a case of mass production.
Gen Z tells me I’m wearing my socks wrong. Am I?
First, Gen Z came for our skinny jeans. Now, they’ve really gone below the belt. Is no Millennial safe?
