‘I’d be rolling over my money’: Murray’s worry on Cbus-CFMEU links
Former bank boss David Murray says the latest CFMEU revelations reaffirm his view that all superannuation board members should be independent, but Labor won’t commit to reviewing equal representation rules.
The top 10 deals where bankers won big fees in past year
The country’s largest investment banks shared in an estimated $600 million payday – from capital raisings to IPOs in everything from NextDC to the ailing Star.
Woodside investors back US deal strategy: CEO
Meg O’Neill says no investors have questioned investing in US LNG exports as the energy market shifts to low-carbon fuel sources.
Harris lashes Trump after securing delegates’ backing
The vice president has secured enough delegates to become her party’s nominee, as money poured into her campaign war chest.
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.
ASIC hits ASX pump-and-dump crew with criminal charges
The corporate cop has hit the alleged ring leaders of an ASX penny stock pump and dump scheme with criminal charges that could come with millions in fines.
- Live
- Markets Live
ASX rises as tech stocks bounce; Woodside hits one-month low
Australian shares open higher. Nvidia, Tesla pace a megacap tech rally. $A hits 1-month low. Copper hits a 3-month low. Follow updates here.
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RACE TO THE WHITE HOUSE
Where does Kamala Harris stand on key policy issues?
Despite her decades-long presence in the public eye, the vice president’s stance on some areas is a mystery to voters as she likely joins the presidential race.
- Analysis
- US election
Why only Michelle Obama could beat Trump
The former first lady would be a “slam-dunk option for the Democrats”, according to polls. But is she up for the challenge?
- Opinion
- US election
Trump will relish a fight against ‘DEI candidate’ Harris
The former president would clearly have preferred to cruise to victory against Joe Biden, but Republicans have always had plenty of attack lines to launch against the vice president.
- Analysis
- US election
Trump faces harsh new reality in White House race
The Republicans’ fight against Kamala Harris for the presidency risks losing traction with some key constituencies, including women and voters of colour.
- Opinion
- US election
Why Donald 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.
tuesday tech
- Exclusive
- Start-ups
Aussie who sold cloud start-up for $2b jumps on AI for ads
Three years after selling A Cloud Guru in a bumper payday, Sam Kroonenburg is teaming up with advertising entrepreneurs with big plans and investors in tow.
- 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.
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Companies
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.
- Exclusive
- Retail
Claims of Super Retail office relationship cover-up head to court
Two former senior executives have filed their Fair Work action, alleging they were unfairly dismissed from the company behind the Rebel Sport chain.
Rinehart-backed Arafura locks in $1.5b debt deal, chases $1.2b raise
The company is developing a rare earths refinery in the Northern Territory, defying concerns about pricing to win backing from Canada, Germany and South Korea.
- 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.
- 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.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
US regulators approve ether ETF in latest crypto milestone
The SEC has signed off on a spot ETF that invests directly in the world’s second-largest cryptocurrency. The digital asset has already jumped 50 per cent this year.
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.
Opinion
There’s no point dwelling on AUKUS paths not taken
Questioning the “optimal pathway” because personal preferences have been ignored is akin to the “airing of grievances” by Seinfeld’s Frank Constanza, writes Justin Burke.
Strategist
The land of the fair go is taxing social mobility
Antiquated over-reliance on income taxes means that if you do manage to succeed, Australia then taxes that success heavily.
Economics professor
Why Donald Trump’s perfect target is ‘woke’ Kamala Harris
The election centres on who scares US voters the most. Republicans fear Harris will target white men, while Democrats say 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
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
New gas needed for energy transition, domestic supply: minister
The Albanese government has given the green light to gas exploration in the east and west coast. But safeguards have failed to placate green groups.
Qld premier raises problem of water risk under Dutton’s nuclear plan
Labor Premier Steven Miles has quoted a new report outlining the need for a state-based plebiscite to adopt the Coalition’s nuclear plan.
- Exclusive
- Russia-Ukraine war
Russia spying? Don’t be so paranoid, Kremlin envoy says
Moscow’s ambassador in Canberra says the espionage arrests of a Russian couple living in Australia is like an episode of TV show ’The Americans;, and it’s actually Russians who are unsafe.
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.
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.
SPONSORED
World
Putin’s growing LNG ‘dark fleet’ raises alarm
A mysterious buying spree of gas tankers has driven up the prices of older vessels as Moscow prepares for tighter trade restrictions.
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.
Property
Fear of CFMEU reprisals keeps building bosses silent
Major builders and developers say union power is driving up the cost of housing and infrastructure projects, and they don’t want more trouble on their sites.
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.
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.
Wealth
The $1 rule that can save you hundreds on your mobile phone
Telstra’s decision to raise its plan prices above inflation is a wake-up call to Australians to shop around for a better deal on their mobile phone, savings experts say.
How to spot a good – or bad – private credit fund
Growth in non-bank lending presents new opportunities for investors. But with higher returns comes added risk.
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.
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
This top fundie used to peel four sacks of potatoes every Friday
Ausbil Investment Management’s Paul Xiradis says it’s at the fish market that he probably got involved in markets, understanding how they’re priced and cleared.
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.
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.
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?
New wave of Chinese watchmakers takes on the Swiss giants
Thanks to the growing influence of young independents, watchmaking in China is no longer just a case of mass production.
How to nail the 30-plants-a-week meal challenge
A major study found that the greater number of plants a person ate, the healthier they were. So we had a crack at it.
‘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.
