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    Bumpy ride for shares as CPI, earnings and big tech threaten stability

    Volatility is set to return to global sharemarkets this week starting with the ASX, which is bracing for inflation data that could cement a Reserve Bank interest rate increase.

    Ariana Titmus wins gold medal in 400m freestyle.

    Are you excited yet? Australia leaps to top of medal tally

    Disappointment in the rugby, heartbreak at the diving pool, but gold in cycling and a four-medal haul at the pool. Here’s everything you missed overnight.

    An Israeli military officer walks past destroyed children’s bicycles at the site of a rocket attack in the Druze town of Majdal Shams.

    Israel vows revenge on Hezbollah after soccer field attack kills 11

    Israel blames Hezbollah for a deadly rocket strike on a soccer field in the Golan Heights. But the Lebanese militant group has denied responsibility.

    ‘Weird’ J.D. Vance sparks Republican alarm after bruising week

    Contentious comments about “childless cat ladies” by Donald Trump’s vice-presidential pick have led to a barrage of criticism.

    Trump vows to fire top financial regulator in crypto backing

    The presidential candidate has told bitcoin enthusiasts he would ensure regulatory rules were written by people “who love” cryptocurrencies if elected.

    Australian cyclist Lucas Plapp undergoes surgery

    Lucas Plapp has undergone abdominal surgery in a Paris hospital after crashing in wet conditions during a trial race; Australia is leading the medal tally in Paris on day one. Follow live here.

    Macquarie takes full ownership of Britain’s gas network

    Macquarie is set to take full control of Britain’s core gas transmission network in a roughly $1.4 billion deal, as the world’s largest infrastructure investor bets on an enduring future for gas pipelines.

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    paris 2024

    Aaron Wartmann, a swimming instructor at Auburn Ruth Everuss Aquatic Centre, with six year old Jayden Yang.

    An industry that began in the 1950s now breeds Olympic swimming gold

    The rise of learn-to-swim schools in Australia has delivered an unexpected benefit: generations of elite swimmers faster than anyone else on Earth.

    Maddison Keeney and Anabelle Smith in the women’s synchronised 3m final.

    ‘Pretty brutal’: Australia’s first medal bid ends in heartbreak

    Synchronised divers Anabelle Smith and Maddison Keeney entered their fifth and final dive on course for at least bronze. And then it all went wrong.

    A light show is projected from the Eiffel Tower in Paris, France, during the opening ceremony of the 2024 Summer Olympics.

    Long queues and lots of rain. But it was worth it

    The unique opening ceremony on the Seine River was very wet, and the lines were long, but they were small prices to pay to be at what felt like a party at the centre of the universe, writes Hans van Leeuwen

    Flotilla on Seine, rain and Celine Dion mark start of Olympics

    Crowds braved queues at security checks and heavy downpours as they lined the banks of the Seine in Paris to watch an extravagant Olympics opening ceremony.

    In pictures: Paris dazzles in opening ceremony spectacular

    Images from the opening ceremony for the Paris Olympics 2024.

    SMART INVESTOR

    Technology stocks helped three super funds to the top of the podium for best returns last financial year.

    Is your super fund among these winners?

    Investment chiefs of the top performers say there are still plenty of opportunities for the artificial intelligence revolution to drive up retirement savings.

    Australian investors face even higher rates.

    If the RBA was doing its job, it would immediately lift rates

    A hot inflation figure on Wednesday would show we are in the grip of a structurally persistent crisis which has been underestimated in three of the last four quarters.

    A key question is whether children have the financial literacy and emotional intelligence to handle a significant sum of money.

    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.

    ‘I’m a financial adviser but pay somebody else to manage my money’

    Thriving Wealth founder John Cachia had three good reasons to outsource his financial affairs.

    Ten books that could help you become a better investor

    We asked money managers, financial advisers and a self-made multimillionaire to nominate the books that taught them the most about creating wealth.

    Get the front page and latest edition of the Financial Review as it was printed, delivered to your inbox every morning.

    Sign up for the Today’s Paper newsletter

    Companies

    Anko chief executive Arjun Puri, left, with Wesfarmers boss Rob Scott.

    There’s an $8b business quietly growing inside Wesfarmers

    In 2008, Kmart was on its knees. But a trip to the United Kingdom turned into the company’s greatest success – Anko, the home brand with big growth plans.

    ANZ is coming under increasing investor scrutiny over the behaviour of its trading division.

    Super funds put ANZ board on notice over trading scandal

    The intervention came as brokers began to warn that the alleged misconduct could lead to regulators forcing ANZ to hold more capital than its rivals.

    Rock art near Jabiluka is one reason why the Northern Territory has decided not to extend the lease.

    End of the road for Kakadu’s Jabiluka uranium lease

    The NT government has refused to extend a mining lease over the Jabiluka uranium deposit, cheering native titleholders but angering nuclear power advocates

    Retail store Country Road is under pressure to trim down.

    Woolworths Holdings brings in BCG to slash costs at Country Road

    Country Road – which operates its eponymous brand along with Mimco, Trenery, Witchery and Politix – has been controlled by the South African group since 1998.

    Could ANZ’s trading scandal trigger executive accountability laws?

    ASIC declined to say whether its ANZ investigation involved the Financial Accountability Regime. But an ANZ update this week was speaking the language.

    Qantas hopes downturn doesn’t extend to business class

    Fears of a lull in demand sent airline stocks lower across the globe, but wealthier older travellers appear to be prioritising spending on more expensive seats.

    Why you can’t order online from Aldi anytime soon

    The German discount supermarket had been investigating internet sales, which is a space that its rivals Woolworths and Coles have aggressively expanded into.

    Companies in the News

    Search companies

    View stories and data from an ASX listed company

    Markets

    This week saw the tech-heavy Nasdaq Composite suffer its worst one-day fall in 18 months

    Tech reversal pushes US megacaps into correction territory

    Double-digit falls this week in Nvidia, Tesla, Meta and Alphabet, which have powered the US market rally for the past nine months, highlight questions on artificial intelligence investment returns.

    Activist hedge fund manager Bill Ackman.

    Ackman’s Pershing postpones US fund IPO

    Billionaire Bill Ackman’s US closed-end fund is facing a delay to its highly-anticipated initial public offering as it awaits regulatory approval.

    US equities are poised to end the week on a positive note.

    US stock rotation trade picks up on Fed-friendly data

    Every major group in the S&P 500 rose on bets that the start of the Fed easing cycle will keep fuelling the outlook for Corporate America.

    Funds hit as Trump shadow looms over green energy

    Fund managers are scrambling to assess what a Republican win in November could mean for the billions of dollars earmarked for green investments.

    Citron’s Andrew Left faces US criminal charges over alleged fraud

    US authorities allege that Left promoted what he said were his long or short trades, only to quickly reverse his positions, pocketing profits in the process.

    Opinion

    Harris v Trump presents starkly different Americas

    The exit of Joe Biden and the entry of Kamala Harris means real campaigns and robustly articulated choices.

    The AFR View

    Editorial

    The AFR View

    Albanese is responsible for the monster that is the CFMEU

    A friendly political environment created by the Labor government allows the lawless union to thrive.

    Aaron Patrick

    Senior correspondent

    Aaron Patrick

    Democrats will pay a price for anointing Harris

    Kamala Harris is unpopular, has a penchant for excruciating banality and her career smacks of connections and favouritism.

    Bret Stephens

    Contributor

    Bret Stephens

    It’s not just Labor that let the CFMEU off the leash

    Jacqui Lambie, Pauline Hanson and some independents have played a role in enabling the militant union.

    Phillip Coorey

    Political editor

    Phillip Coorey

    If the RBA was doing its job, it would immediately lift rates

    A hot inflation figure on Wednesday would show we are in the grip of a structurally persistent crisis which has been underestimated in three of the last four quarters.

    Why Australia’s sharemarket is a sure bet over the long term

    The ASX 200’s recent milestone climbing above 8,000 is impressive, but it is the last 30 years that should really be celebrated – every $10,000 invested in 1994 would be worth $137,626 today.

    Paul Taylor

    Contributor

    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.

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    Politics

    .

    Albanese kills uranium mining at Jabiluka

    Anthony Albanese has ended a decades-old dispute over uranium mining in the NT by ending the mineral lease on Jabiluka and pledging to add the mine site to the Kakadu National Park.

    Royal Australian navy chief Vice Admiral Mark Hammond in Perth.

    Submariner in charge of AUKUS says the debate is being hijacked

    Navy chief Vice Admiral Mark Hammond has offered a fierd defence of the big-money nuclear-powered submarine pact in an interview with AFR Weekend.

    Some economists say at least two rate rises are needed to curb inflation.

    The inflation number that could trigger an interest rate rise

    The RBA will struggle to justify keeping the cash rate on hold if consumer price index figures next week show underlying inflation stuck above 4 per cent.

    Labor Right pushes for extra spot as O’Neil speculation swirls

    Speculation is intensifying that Clare O’Neil will be shifted from Home Affairs and be replaced by Agriculture Minister Murray Watt.

    The uni reform that has vice chancellors in rare furious agreement

    The first piece of reform under the universities accord is not going to plan, says vice chancellors.

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    World

    An Israeli military officer walks past destroyed children’s bicycles at the site of a rocket attack in the Druze town of Majdal Shams.

    Israel vows revenge on Hezbollah after soccer field attack kills 11

    Israel blames Hezbollah for a deadly rocket strike on a soccer field in the Golan Heights. But the Lebanese militant group has denied responsibility.

    Harris and former president Barack Obama attend an event in 2022.

    Obamas endorse Harris, Trump vows return to shooting site

    The former US president and his wife have given Kamala Harris an expected boost in her campaign against Donald Trump who says he will return to Pennyslvania.

    Vice President Kamala Harris speaks to reporters upon arrival at Andrews Air Force Base.

    Harris gains on rival Trump, calls for debate

    The latest survey shows a tight race for the White House separated by a single percentage point, while Democrat elder Barack Obama prepares to break his silence.

    Alarms, double prices: Japan is getting fed up with foreign tourists

    Angst is rising in Japan over what locals are calling an “over-tourism crisis” – and some towns are taking action.

    Indonesia moves to reduce China’s investment in nickel projects

    Jakarta wants to help its industry qualify for tax credits under Joe Biden’s initiative to build a US electric vehicle supply chain.

    Property

    Deborah Coakley will lead QIC Real Estate in October.

    QIC loses real estate chief, recruits ex-Dexus executive

    QIC Real Estate managing director Michael O’Brien resigned from his role earlier this week.

    The builder blames labour and supplies shortages.

    Rich Lister-owned home building empire faces $100m class action

    West Australian construction company BGC Housing Group – founded by the late Len Buckeridge and still controlled by the family – is facing a class action from potentially thousands of aggrieved home owners.

    Business as usual at Selina’s Melbourne Central hotel.

    ‘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.

    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.

    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.

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    Wealth

    Cathy Ding recommends Mastering the Market Cycle.

    Ten books that could help you become a better investor

    We asked money managers, financial advisers and a self-made multimillionaire to nominate the books that taught them the most about creating wealth.

    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.

    Technology

    Federal and Queensland taxpayers will sink $1 billion into bringing a quantum computing company to Brisbane.

    Expert department ‘not party’ to PsiQuantum deal

    Persistent criticism of the nearly $1 billion investment in PsiQuantum was again levelled at ministers and bureaucrats this week.

    OpenAI has unveiled a prototype of SearchGPT, a new web search chatbot that will rival Google.

    Look out Google, here comes SearchGPT

    OpenAI has unveiled a prototype of SearchGPT, a new web search chatbot that could rival Google, and change how people navigate the online world.

    Financial Services Minister Stephen Jones has committed to make bank, telcos and online operators liable for scam losses.

    Advertisers to be verified under new online scams code

    The digital industry has established a new online scam code, after delays establishing a mandatory government backed code.

    Work & Careers

    Sebastian Klett, general manager of digital agency Balance, knows people who have taken advantage of their remote-working privileges to secretly work from overseas. And none of them were caught doing it.

    Why ‘quiet vacationing’ could lead to getting sacked

    “Quiet vacationing” is an emerging trend as employees take advantage of work from home rules, but they could be contravening tax and visa rules.

    Executives, celebrities are rushing to take this scholar’s $18K course

    Marketing guru Anita Elberse’s program has become a blockbuster for Harvard Business School.

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    Life & Luxury

    Bonnie Garmus

    What it’s really like when you write a bestseller

    Bonnie Garmus’ late literary success has been welcome but not as she imagined.

    Lexus LC 500 coupe

    This flagship Lexus sports coupe is a hidden gem

    The luxury car maker’s updated LC 500 is a beauty with a roar.

    Ryan Gonzalez was a rapping tour de force as Usnavi.

    Lin-Manuel Miranda’s ‘other’ musical gets a timely revival

    Hamilton is a hard act to precede, but hints of its composer’s genius are all over In The Heights, which is being revived at Sydney Opera House.

    About Time Watch Weekend

    It’s About Time you book your spot at the AFR Watch Weekend

    Financial Review readers are invited to enjoy special events at the Sydney and Melbourne stores of 15 of the world’s finest watchmakers.

    Aly McCormick’s Kamala mix on TikTok.

    What is the KHive?

    Likely Democrat nominee Kamala Harris has supporters embracing her quirky style and turning her cringiest moments into social media memes.

    From the gallery