How the early gold rush is spurring the Aussies on
A gold that has been 12 years in the making for kayaker Jess Fox, and celebrity spotting at the gymnastics. Here’s what you missed overnight.
- Live
- Need to Know
Australia falls to second place in medal tally late on Day 2
Australia has four gold and two silver; Jess Fox’s says she “dug deep”; Emma McKeon tears up after final individual event; Titmus takes semi-final win over O’Callaghan; Matildas take 6-5 victory over Zambia. Follow the latest here.
ASX to rise; Amazon, Meta to report earnings this week
Shares to open up 0.8 per cent; Magnificent Seven earnings ramp up; Rio Tinto to report on Wednesday. Follow here for more updates.
Inside the stoush between private hospitals and health insurers
As finances deteriorate, insurers and providers are slugging it out over how to overhaul a healthcare system which has not seen serious reform in decades.
Israel strikes deep in Lebanon after rocket attack, stoking fear of wider war
Sunday’s strikes fell short of the furious response Israeli officials threatened after the strike on a soccer field in the Golan where children were playing.
Albanese guts Home Affairs in pointed reshuffle
Anthony Albanese has gutted the Home Affairs department and moved aside the two ministers responsible for the troubled Immigration portfolio, in a modest but pointed reshuffle.
ATO ready to send companies broke rather than wait for tax
Black Brewing Co stopped paying the tax office for almost a year and ultimately joined the dozens of craft brewers who have gone bust. The ATO will not budge.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
paris 2024
Ariarne Titmus and Katie Ledecky have pushed each other to immortality
The two great swimmers are not the bitter rivals you would expect. They are much more like friends.
Biles outshines star-studded audience in Olympic return
Lada Gaga, Ariane Grande, Anna Wintour and even Baz Luhrmann were among the celebrities on hand to see Simone Biles Olympic return.
What’s on Monday? Check out the full schedule here
Find the times and days of all your favourite sports right here with this interactive guide to the Paris Olympic Games.
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.
- Exclusive
- Paris 2024
Labor wants quotas for women on sports boards
Almost 56 per cent of Australians competing in Paris are women – the highest proportion in history. But this is not reflected on the boards of most sports.
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Companies
ASX to expand into carbon, gas futures trading in transition payday
The market operator expects to list a gas futures contract in August, and is working with the clean energy regulator on a market for carbon credits.
- Opinion
- Big four
It’s the bond trader that’s overvalued, say Buffett and Gorman
As ANZ’s board battles to contain an escalating bond trading scandal, it must decide whether it could have been avoided and whether it was worth the trouble.
- Exclusive
- Mining
Boss Energy made $550m Jabiluka bid before PM’s mine veto
ERA’s fractured share register opened the door to an opportunistic play for the highly controversial Jabiluka mineral lease.
- Analysis
- Due diligence
Why M&A arb funds are sitting out ‘the trade of the year’
Sierra Rutile has caught the eye of London’s ‘most daring emerging markets fund’, a Sierra Leone mining contractor and a global commodities trader in a three-way bidding war, writes Jemima Whyte.
Chinese rare earths giant looks to set up in Australia
Shenghe wants to expand into Australia despite strong government opposition to Chinese investment.
States should drop ‘ridiculous’ uranium bans: Mundine
Former ALP national president Warren Mundine says state government should end their bans on mining uranium, and the Mirrar people should be able to negotiate whether the practice remains at Jabiluka.
That cool op-shop jacket could earn you carbon credits
Federal regulators are considering a proposal to offer financial incentives to consumers who buy second-hand clothes.
Companies in the News
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Markets
ASX to rise as big tech earnings threaten stability
Futures point to a strong start on Monday for the local bourse with the S&P/ASX 200 set to open up 0.8 per cent as volatility is set to return to global sharemarkets this week.
- Opinion
- Hedge funds
US regulator says activist short seller was a pump-and-dumper
Andrew Left had a reputation for hunting frauds, but that gave him a platform to pump-and-dump stocks, the SEC has alleged, writes Jonathan Shapiro.
- Opinion
- Sharemarket
Why Australia’s sharemarket is a sure bet over the long term
The S&P/ASX 200’s piercing of 8,000 is impressive, but it’s the last 30 years that should be celebrated. Every $10,000 invested in 1994 would be worth $137,626 today, writes Paul Taylor.
Tech reversal pushes US megacaps into correction territory
Double-digit falls last 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.
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.
Opinion
Will Albanese’s ‘no losers’ reshuffle be enough?
The former workplace relations minister who let the law-breaking CFMEU off the leash by abolishing the Australian Building and Construction Commission has been put in charge of policing the nation’s borders.
Editorial
Why east coast energy woes won’t hurt green industry plans
Many projects in the new industries can be located where they are welcomed, and away from the current grid.
Former ACCC chair
Why beating up on private motorway companies is short-sighted
Privately owned motorway companies must provide a superior service to motorists, or they simply go out of business.
Contributor
Uranium mining bans belong to a previous era
Labor’s efforts to keep Australia’s energy transition uranium mining-free amount to a self-defeating hobbling of the nation’s green superpower hopes.
Editorial
Merger changes crown the ACCC as Wizard of Oz dealmaking
The legislation, which empowers the antitrust regulator to be the administrative “steward” of M&A, is the most profound reorientation of Australian merger law in its 50-year history.
Lawyer
Multicultural report buries Australia’s British past
The institutions that Britain brought – parliamentary democracy, the rule of law, an independent judiciary and a free press – are the very institutions which have allowed multiculturalism to flourish. This report ignores them.
International editor
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 guts Home Affairs in pointed reshuffle
Anthony Albanese has gutted the Home Affairs department and moved aside the two ministers responsible for the troubled Immigration portfolio, in a modest but pointed reshuffle.
Now its O’Neil v Chandler-Mather on housing
Clare O’Neil will take on selling the government’s housing agenda, which pollsters say has been drowned out by the Greens’ precocious spokesman Max Chandler-Mather.
Merger crackdown to make ACCC ‘judge and jury’ on deals
More takeovers will be able to be blocked under the government’s move to give the competition watchdog stronger powers than previously thought, lawyers say.
Construction collapses lead record insolvency year
It was the highest number of annual insolvencies recorded by ASIC since records dating back to 1999-2000 and surpassed the previous high at the tail end of the global financial crisis.
NSW Premier Chris Minns dodges a fight over Palestine
The Labor leader promised new protections for renters and gig-economy workers at the party’s first conference in power in NSW after 12 years.
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World
Harris raises more cash in a week than Trump, Biden in a month
Michael Tyler, the Harris campaign’s communications director, called the $305 million raised a “record-shattering haul”.
How Boeing ‘shorted safety’ to chase profits – and cost hundreds their lives
As the plane maker showered shareholders with billions, a tragic crisis was brewing.
UN warns Israel, Hezbollah against ‘catastrophe beyond belief’
Israel blames Hezbollah for a deadly rocket strike on a soccer field in the Golan Heights. But the Lebanese militant group has denied responsibility a tensions rise.
‘Unhinged’ ‘Just plain weird’: Trump-Harris race gets nasty
Kamala Harris called Donald Trump old, while the former president called her sick, as the race for the White House descended into offensive barbs.
Why Harris is drawing in crucial Gen Z voters
The presumptive Democratic presidential candidate’s campaign gets under way with an explosion of online content that’s drawing in the younger generation.
Property
Vendors need to rein in price expectations says Ray White boss
While auction clearance rate are holding up well and standout results on some properties are being achieved,
Costa family puts Victoria’s biggest tomato farm on the market
goFARM, a joint venture between the Costa family and Liam Lenaghan, is selling 4,855ha Winlaton Farms which grows field tomatoes sold to Kagome.
- Opinion
- NSW residential property
Considering buying a rental property in NSW? Think again
NSW Premier Chris Minns plans to ban at-will evictions of tenants. The policy is unfair on owners.
QIC loses real estate chief, recruits ex-Dexus executive
QIC Real Estate managing director Michael O’Brien resigned from his role earlier this week.
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.
Wealth
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.
- 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.
Technology
- Exclusive
- Funding
How Melbourne start-up’s gamble created a $34m business
A risky plan to cut off a $4 million revenue stream and rebuild their software company has paid off handsomely for two Melbourne-based tech entrepreneurs.
- Exclusive
- Venture capital
Rich Chinese investors join $1b hunt for Aussie VC funds
A fund manager for rich Chinese investors is trying to raise $100m for venture capital investments, joining a crowd of operators trying to raise over $1 billion.
How do you solve a problem like Elon?
Linda Yaccarino, the CEO of X, has worked hard to bring back advertisers and fix the platform’s business. But its owner, Elon Musk, is always one whim away from undoing her work.
Work & Careers
Martin Indyk, Australian diplomat who pursued Middle East peace, dies at 73
Raised in Sydney’s Castlecrag, the diplomat who helped steer Middle East policy under two US presidents, has died. “He’ll be remembered for his commitment to the cause of Israeli-Palestinian peace, which in the end broke his heart.”
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.
Life & Luxury
Cartier goes in new direction with a watch that goes anticlockwise
One of this year’s most buzzed-about releases, the limited-edition Cartier Santos-Dumont Rewind, is heading to Australia.
Want to play the world’s top golf courses? This app could get you there
This avid golfer used his tech background to create an app that lets private club members hit the links together.
Is this the craziest sneaker you have ever seen?
Swiss sneaker maker On is hoping the Cloudboom Strike LS will have the same disruptive effect on the sneaker market that Elon Musk’s innovation had on the car world.
What it’s really like when you write a bestseller
Bonnie Garmus’ late literary success has been welcome but not as she imagined.
- Driving With Tony Davis
- New car snapshot
This flagship Lexus sports coupe is a hidden gem
The luxury car maker’s updated LC 500 is a beauty with a roar.
