- Exclusive
- Mergers & acquisitions
ASIC mulls crackdown on market-moving media leaks
Under what is known in the United Kingdom as the “put up or shut up” rule, bidders that fail to act before their time limit ends would be barred for up to six months from launching a second attempt.
End of an era: Antipodes Partners snaps up Maple-Brown Abbott
The investments house was established in 1984 and managed money for some of Sydney’s wealthiest families. The deal creates an $18 billion asset manager.
Trim mortgage ‘risk weights’ to help first home buyers: Barrenjoey
Barrenjoey called on APRA to allow banks to reduce mortgage “risk weightings” for first-time borrowers and for ASIC to drop HECS debt from responsible lending.
- Opinion
- Chanticleer
What brokers, fund managers do when ‘mkt dead quiet’
This week is unlisted companies week. Macquarie, UBS and Citi are all parading unlisted companies or investment themes – ostensibly, in the name of research.
Dutton slams energy ‘fanatics’ on both sides as he spruiks nuclear
Peter Dutton has seized on new data showing the east coast grid was heavily reliant on coal and gas during recent winter months due to a lack of wind and sun.
Construction, labour woes force developer to offload $200m of sites
APH Holding, which has a multibillion-dollar pipeline of Melbourne projects, has put more than $200m worth of sites on the market, including many with permits
WIN, Southern Cross consider selling TV stations to Network Ten
A relatively small sale of regional broadcast assets could open the door for WIN owner Bruce Gordon to take a larger stake in Nine Entertainment.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
paris 2024
France faces glut of unwanted Olympics tickets
A lack of demand in the secondary market has left many holding tickets they cannot sell, while organisers have continued to release more tickets.
‘No time’ to get business case for Brisbane Games stadium
Hours after Brisbane 2032 Games boss Andrew Liveris pleaded with politicians not to make it a political football, they did.
As Australians are attacked, 45,000 police to hit streets
Olympic officials have warned of a broad range of security threats in Paris, from protests to crime and even war, as authorities step up protection for Israeli athletes.
The comfort food that’s fuelling Australia’s athletes
To conquer the world, one thing the Aussie competitors need is some of their favourites from home.
Brisbane Olympics boss: Stop making 2032 Games a ‘political football’
Andrew Liveris claims plans for the Queensland event is running “ahead of schedule” with cricket remaining a possibility to be added to the roster of sports.
super fund roundtable
- Opinion
- Chanticleer
Rock stars happy to discuss fixes, but super isn’t the big problem
Tinkering with super allocations is one thing, but it cannot replace our desire for bolder economic and tax reform.
Private credit must be less secret, say banks, regulators
Chief executives of the nation’s biggest banks say they are prepared to partner with private credit funds but called on major players in the $2.3 trillion sector to provide better disclosures to investors.
Keating rebukes super funds for ‘chasing the money’
Super funds should have been thinking about the needs of retirees long before now, says former prime minister Paul Keating.
Junk bond king says Australia could become ‘financier of Asia’
Australia could become a financing powerhouse, says American billionaire and philanthropist Michael Milken.
- Opinion
- Superannuation
Once reluctant, super fund giants are flocking to private credit
If they can find investments that earn close to double-digit returns with reasonable reliability, they’re happy to scale up – which is precisely what they’re doing, writes Jonathan Shapiro.
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Companies
- Updated
- Managed funds
Perpetual clients pull almost $8b from funds house before KKR sale
Almost 4 per cent of all assets were yanked from the storied asset manager, which is preparing to offload its more successful wealth management division.
‘Unclear’ how much Meta makes from Australian users: ACCC
It is clear Meta banks billions in revenue from Australians offshore, the competition watchdog said responding to questions from a government inquiry.
WIN, Southern Cross consider selling TV stations to Network Ten
A relatively small sale of regional broadcast assets could open the door for WIN owner Bruce Gordon to take a larger stake in Nine Entertainment.
- Opinion
- Chanticleer
How to stop mortgages becoming just for the rich and old
Jonathan Mott’s six ideas for how first home buyers could better access credit are not perfect, but they deserve attention from politicians and regulators.
- Analysis
- Building Bad
Lendlease’s lucrative alliance with the CFMEU
Allegations of wrongdoing on construction sites raise the question: Do big contractors enable and profit from union thuggery?
Japan’s Chugoku puts its share of $1.1b coal mine up for sale
The electricity retailer owns 10 per cent of the NSW operation, and it is the latest Japanese coal industry cornerstone firm to exit.
Survival of the fittest in lithium, says Pilbara Minerals boss
The company’s chief executive says lithium supply from bit players starting to wither away is a sign the price has reached a new floor.
Companies in the News
Search companies
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Markets
End of an era: Antipodes Partners snaps up Maple-Brown Abbott
The investments house was established in 1984 and managed money for some of Sydney’s wealthiest families. The deal creates an $18 billion asset manager.
Is this it for the big tech trade? Funds are divided
The first batch of earnings results from the magnificent seven has failed to lure investors back to a rally that lost steam this month.
Energy and property stocks weigh on ASX; $A drops below US66¢
Shares slip at the closing bell; Perpetual hit with outflows; the Australian dollar extends sell-off as iron ore inches closer to $US100. Follow updates here.
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.
$A hit with longest stretch of losses in a year on China woes
The Australian dollar fell for a seventh session below US67¢ as concerns about China’s economy weigh on the currency and commodity prices.
Opinion
We’re cracking down on market-moving media leaks
ASIC has begun a targeted review of apparent leaks to media. Confidentiality rules will be under scrutiny.
Market regulator
How the CFMEU tightened its grip on Australia’s cities
Combine governments that put nation-building at the heart of their political agendas with a legalised labour market monopoly. It’s a recipe for total control.
Former IR adviser
Why women will supercharge philanthropy
Australian women are poised to take charge of $3.2 trillion in the next decade. This will be the greatest wealth transfer in Australia’s history.
Business woman, philanthropist
One issue where Kamala Harris gives the Democrats an edge
The party hopes to use the burning issue of abortion rights – and the elevation of Kamala Harris – to change what has been a losing election hand.
Columnist
What should Australia do about AI regulation? Nothing
Australia should avoid the temptation to rush in like Europe with half-baked rules on AI. We can become a honeypot for talent.
Technology investor
The land of the fair go is taxing social mobility
Australia’s antiquated over-reliance on income taxes means that if you do manage to succeed, then that success is taxed heavily.
Economics professor
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
AUKUS navy chiefs sound alarm over China, Russia, Iran collaboration
The head of the US Navy warns that “unfettered access” to the sea for trade is at risk from authoritarian countries dubbed the “axis of upheaval”
Dutton slams energy ‘fanatics’ on both sides as he spruiks nuclear
Peter Dutton has seized on new data showing the east coast grid was heavily reliant on coal and gas during recent winter months due to a lack of wind and sun.
CFMEU official appointed to Queensland work health and safety board
The union representative, who has an extensive history of breaking workplace laws, was appointed by the state’s Labor government.
CFMEU expects administration move ‘within days’
The Fair Work Commission will apply to place several CFMEU construction division branches into administration by this week, according to the union’s national boss.
More Kiwis arriving than ever before
Concessions to give New Zealanders quicker access to permanent residency are contributing to high migration levels.
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World
Luxury brands hit hard in China slowdown fear worse to come
Executives at European luxury brands including LVMH, Burberry and Hugo Boss may hope this is a blip, but it’s not clear how China will turn things around.
- Updated
- US election
‘Choice between freedom and chaos’: Harris rallies swing state crowd
By stopping in Wisconsin, the vice president put down a marker in one of the “blue wall” states that Democrats see as essential for securing a presidential victory.
Harris leads Trump in US presidential race, Reuters/Ipsos poll finds
Vice President Kamala Harris opened up a marginal two-percentage-point lead over Republican Donald Trump, a Reuters/Ipsos poll found.
Secret Service director resigns over Trump rally shooting
Kimberly Cheatle has handed in her resignation amid intense and unrelenting pressure from lawmakers of both parties.
- Analysis
- US election
Will Biden’s legacy include an end to the Israel-Hamas war?
Being free from the constraints of campaigning will give the president more time to focus on foreign policy, which some analysts say will allow him to bolster his image on the world stage.
Property
Construction, labour woes force developer to offload $200m of sites
APH Holding, which has a multibillion-dollar pipeline of Melbourne projects, has put more than $200m worth of sites on the market, including many with permits
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.
Architects, fire engineers, building surveyors fingered over cladding
Victoria’s combustible cladding crisis shows the permit system failed to ensure compliance with building rules, a new government agency report shows.
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.
Sale price for Captain Cook pub doubles to $35m since 2020
The price paid for the Botany hotel by publican Kent Walker is in sharp contrast to the $6.6m paid recently for the Captain Cook Hotel in Paddington.
Wealth
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.
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.
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
- Exclusive
- AI
Teachers to get AI training under NSW proposals
Specific training about the use of artificial intelligence and greater protections for copyrighted works are among recommendations from a state inquiry.
Inside Google’s plans to revolutionise the weather forecast
Traditional methods have involved “physical models” run on supercomputers. GraphCast can be run on a laptop, and come up with a forecast in minutes.
Google’s biggest acquisition falls over as $35b offer rejected
Cybersecurity firm Wiz has turned down a mammoth takeover bid from Google’s parent company, Alphabet, sticking with an IPO plan.
Work & Careers
This exec wants more than a CEO role. She wants to be an astronaut
Renee Wootton is one of the 2024 BOSS Young Executives. She works in the fledgling sustainable aviation sector, but her real goal is to go to the International Space Station.
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.
Life & Luxury
‘Having clear thoughts always makes for better outcomes’
This is the mantra that American Express executive Robert Tedesco swears by when things get hectic on the soccer pitch. It applies in business, too.
The glow-in-the-dark watch that no one saw coming
The IWC Ceralume concept watch, plus new offerings from Audemars Piguet and Credor, break the mould in unexpected ways.
- Driving With Tony Davis
- Motoring
Audi’s luxe electric SUV faces uncertain future
The new SQ8 e-tron ups the ante on multiple fronts, and it’s more comfortable than most electric SUVs. But production costs are weighing on its viability.
Clothes shopping a tedious bore? Check this place out
Christian Kimber has gone to considerable lengths to make his new CBD flagship an easy place to be.
New Michael Kirby building takes law students ‘into light’
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.
