- Opinion
- Chanticleer
ANZ boss Elliott makes big call on bonds scandal
If Shayne Elliott is right, he’ll get out of this with a docked pay-packet. If not, the bank’s succession planning and strategy could be in ruins.
The soaring success and unspeakable grief of Linda Burney
Linda Burney has been a pioneering advocate for Indigenous Australia, but her life has been peppered by tragedy.
Westpac wins endless gag order on executive court dispute
Federal Court judge Elizabeth Raper said open justice was “a” – not “the” – fundamental principle of the Australian justice system.
Scyne to cut 90 jobs amid crunch on Canberra work
Those affected have had a tumultuous year, in which they were obligated to move to the start-up after the firesale only to find themselves unemployed again now.
- Opinion
- Federal election
Stability is one thing PM can promise that his opponent cannot
When Fatima Payman claimed that “unlike my colleagues, I know how it feels to be on the receiving end of injustice”, she’d clearly never met Linda Burney, writes Phillip Coorey.
- Opinion
- Chanticleer
Macquarie investors will need patience as deal drought rolls on
Macquarie is well-positioned to win from the big shifts in markets – but the deal drought will delay those gains, despite a spring in the step of some bankers.
- Opinion
- US election
Hoarse but coherent Biden bows out, sets up Democrats’ last hope
Joe Biden says his decision to step aside was because the greatest need is to defend American democracy, writes Jennifer Hewett.
World View: Australia’s leading foreign experts interpret global events for you. Insights delivered every Wednesday.
paris 2024
Future of Korea-supporting Aussie swim coach hangs in the balance
Michael Palfrey, who said he wanted his protégé Kim Woo-min to beat his Aussie 400m rivals, will continue training Australian swimmers until a decision is made.
Four properties, no shares: This Matilda has had a financial plan since 16
Ahead of competing in her third Olympics, Ellie Carpenter says she wants more female athletes to get money-smart to take advantage of the rising pay on offer.
Click here for the full Olympic schedule
Find the times and days of all your favourite sports right here with this interactive guide to the Paris Olympic Games.
‘Titanic moment’: Flag bearers revealed
Jessica Fox and Eddie Ockenden have been selected to carry the Australian flag as they sail down Paris’ river Seine in an unorthodox opening ceremony.
Spy drone scandal rocks Olympic soccer as police detain Canada staffer
The women’s soccer tournament is in chaos after New Zealand reported a drone spying on their session, leading to the dismissal of two Canadian coaching staff.
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Companies
Rebel Corrs group seeks move to King & Wood Mallesons
Five partners in Corrs’ employment practice are in discussions to shift to rival firms, after some in the group voted against a controversial contract extension.
- Updated
- Investment banking
Macquarie struggles with sluggish deal activity, flags asset sales
The financial services giant told investors that its investment bank had dragged down earnings – flat on last year – for the three months to June 30.
Westpac wins endless gag order on executive court dispute
Federal Court judge Elizabeth Raper said open justice was “a” – not “the” – fundamental principle of the Australian justice system.
- Exclusive
- Media & marketing
Matt Gudinski remakes Mushroom in biggest restructure this century
Matt Gudinski, the son of legendary promoter Michael, will shut a range of well-known imprints and consolidate its artists under one umbrella.
Origin Energy ups battery investments with $450m Eraring project
The second power storage system to be installed at the NSW Central Coast site will have more than double the duration of the first one.
ASIC says Beijing-owned agriculture giant manipulated wheat contracts
COFCO placed improper trades on the exchange in 2022, improperly affecting the futures’ settlement price, ahead of the Ukraine war, the corporate regulator alleges in court filings.
Gold miner Northern Star sees silver lining in BHP nickel woes
Northern Star managing director Stuart Tonkin says an era of some West Australian resources groups overpaying to attract and keep workers is over.
Companies in the News
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Markets
Shares fall; Macquarie, Fortescue sink on results
Shares lose 1pc. Seek warns on profits. ANZ suspends, terminates staff. Fortescue misses production expectations. Wall Street tumbles on slowdown worries. Follow here.
‘Don’t wait until it’s too late,’ warn ASX small-cap managers
Local fund managers are telling clients to start moving money out of large caps before Australia catches up to the US in the global inflation race.
Here are two ASX small caps that could be set for a re-rating
Naos’ Sebastian Evans likes to take big stakes in smaller companies. He’s now betting on disruption to strata management and a solution to the housing shortage.
- Updated
- Big four
ANZ says bond trading scandal fallout could extend to the very top
The ANZ board may be forced to take action against the bank’s chief executive Shayne Elliott and other senior managers over the misleading trading data submitted to the federal government and investigations into its workplace culture.
Tech tumbles as investors flee year-long rally
Tesla led a heavy sell-off in the US tech giants overnight, dragging the S&P 500 to its worst day since 2022.
Opinion
War-torn world pauses in gratitude for Olympic Games
In 2024 with geopolitical tension everywhere, the Olympics are once again showing their power to get on with important matters like playing games.
Editorial
Australian multiculturalism was never a licence for ‘anything goes’
Australia relies on a non-negotiable commitment to certain shared values, including parliamentary democracy and the rule of law; freedom of speech and religion; and the equality of the sexes.
Executive director
The three strategies that saved the Financial Review
It had a competitive advantage of deep engagement with the Australian business community. But that was just the starting point, writes outgoing editor-in-chief Michael Stutchbury.
Editor-in-chief
If Trump and Vance are ‘populist’, there should be more of it
Trump and Vance make the media uncomfortable by saying things about issues like free speech and the family the Democrats would never dare to.
Columnist
Harris’ body language needs Obama’s gravitas to beat Trump
The Democrats presumptive nominee’s problem isn’t just her cackling laugh – her energy is too high in her body.
Leadership coach.
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
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
PM stresses stability ahead of first reshuffle in two years
NT Senator Malarndirri McCarthy is the hot favourite to replace Linda Burney in cabinet and Indigenous Affairs.
- Analysis
- Government Observed
Tech meltdown reveals fundamental flaw in plain sight
The global CrowdStrike breakdown revealed just how much of the global IT system is built on inherently unsafe code.
CFMEU law-breaker 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.
Australia sanctions Israeli settlers for human rights abuses
The Albanese government has escalated its discontent with Israel in a move it says will help preserve prospects for a two-state peace deal solution.
Labor’s green subsidies a risk to living standards: PC
The Productivity Commission has warned Labor’s Made in Australia plan risks evolving into protectionism, undermining decades of reform aimed at creating a vibrant economy.
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World
Rupert Murdoch’s secret family battle for his empire’s future
The media baron has moved to change the family’s irrevocable trust to preserve his businesses as a conservative force. Several of his children are fighting back.
Thousands fill Washington’s streets to protest Netanyahu visit
Demonstrators calling for an end to the war in Gaza that has killed more than 39,000 Palestinians filled several blocks as they weaved through the streets of the nation’s capital.
- Opinion
- US election
Biden clings to the second term he ‘merited’ but was denied
The US president’s resignation speech was delivered by a hollowed-out career politician who appeared defeated by everyone except his family and closest of aides, writes Matthew Cranston.
Kingmaker to spectator: Rupert Murdoch bumped to Republican sidelines
The media baron’s backseat position at the Republican Convention reflects his diminished influence over a party wholly remade in Donald Trump’s image.
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.
Property
The millions being made in flipping luxury homes
Four out of the top 10 most expensive houses sold last year were held for less than five years.
‘Business as usual’ for Selina’s Australian ‘flashpacker’ hotels
The collapse of budget accommodation operator Selina’s London-based parent company will not impact the operation of its Australian hotels, says chief operating officer.
- Exclusive
- Retail property
Leica backs Melbourne CBD revival with world’s biggest store
The famed German camera maker has transformed an entire building in the Melbourne CBD into a retail hub that includes an art gallery.
Melbourne ‘a proper basket case’ as office vacancy hits 20pc
As tenants shift into new towers, older and emptier office blocks will be deemed functionally obsolete.
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
Wealth
- Opinion
- Super Q&A
Why the beach house might be cramping your retirement style
Holiday homes are great, but they don’t produce retirement income and might limit your age pension payments.
Six questions to ask your adult kids before writing a will
Not everybody has the financial literacy and emotional intelligence to handle a significant inheritance.
Women called on to make nation more generous
Total charitable giving in Australia is just 0.81 per cent of GDP, compared to 2.1 per cent in the US, and a new campaign is targeting women to turn it around.
Technology
- Exclusive
- Virtual reality
‘We had to have faith’: Apple’s designers on creating the Vision Pro
For these innovators, the Vision Pro isn’t just a step change in computers. It’s a step into the future.
- 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.
- Analysis
- The Breakdown
Investors aren’t buying Google’s AI future – yet
The search giant’s parent, Alphabet, produced solid earnings, but shareholders are tiring of claims about future magic without answers to important questions.
Work & Careers
This top exec reveals the secret to having it all
Sinead Booth is one of the 2024 BOSS Young Executives. She first gained business experience helping with the books as a teenager at her father’s refrigeration business.
How this retail executive found his calling in the school playground
Chad Burke is one of the 2024 BOSS Young Executives. As a teenager, he had a good business selling chocolates and chips to his fellow students.
Life & Luxury
Movie reviews – Gothic Aussie Birdeater and old-school B flick MaXXXine
This dark, ugly chiller set in the bush is hard to fathom, but fiendishly dumb B-grader MaXXXine at least entertains.
Bulgari’s record-breaking watches come to Australia for first time
Bulgari has won multiple awards for its ultra-thin Finissimo timepieces, some of which will be in Melbourne and Sydney in September.
Like tequila? Try these three new Australian agave spirits
A growing number of enterprising Australian distillers are working to meet the demand for agave spirits.
‘Indie’ watch brands on the rise to challenge their expensive rivals
Watches from independent makers might not have made the headlines, but they might just be the best bet for style – and your budget.
‘Old people sometimes scare me’, says Gen Z
Today’s teens know they are missing out on some of the fun, but are baffled previous generations did so many adult things so young says psychologist Jean Twenge.
