The price rises creating a dilemma for the RBA
High inflation for items that interest rates have little control over, such as education, healthcare and insurance, will force the RBA to consider squashing harder on the prices of other items.
‘Risks elevated’: APRA holds banks’ mortgage rate buffer at 3pc
APRA said an uncertain economy, geopolitical instability, high household debt and inflation remain key risks for banks, compelling it to keep the loan buffer intact.
- Opinion
- Chanticleer
CBA isn’t the only valuation puzzle for Australia’s biggest LIC
AFIC has almost $1 billion tied up in CBA stock, and is watching its eye-watering valuation closely. But it’s not CEO Mark Freeman’s only worry.
- Live
- Markets Live
ASX climbs; Fletcher slumps 6pc; Adore rallies
Shares advance; Adore Beauty names Sacha Laing as chief executive; Fletcher expects $NZ30m to earnings; Kogan sees ‘positive trend’ in sales; Bitcoin hits six-week high. Follow here for more.
- Opinion
- Chanticleer
There’s a frightening new bubble building in China
China’s property bubble has popped, its economy is spluttering and its sharemarket is all over the place. Now there’s a new problem to watch.
Australians welcome Trump’s pro-crypto stand
Crypto traders say Donald Trump’s pledges to end the “persecution” of the industry and sack SEC chairman Gary Gensler are a good start.
Meet J.D. Vance’s ‘cool’, ‘woke’ wife
Usha Chilukuri is a daughter of Indian immigrants, a vegetarian, an accomplished Yale-educated lawyer who has “never gotten a B her entire life”, and who friends say leans liberal.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
paris 2024
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.
Why Jess Fox’s long-coveted gold came at just the right time and place
The talismanic Aussie kayaker was buoyed by the huge support from the green-and-gold fans. But the French cheered her on too – she’s almost one of their own.
French swimming sensation rises as star of the games
Leon Marchand has drawn comparisons to American champion Michael Phelps and has lived up to those staggering expectations with his first gold medal on day two.
Aussie women set up golden freestyle showdown
The women’s 200m freestyle final is shaping up as the mother of all club meets between training partners Ariarne Titmus and Molly O’Callaghan.
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.
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Companies
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.
Adore Beauty hires ex-General Pants CEO to lead recovery
After selling General Pants to Richard Facioni’s Alquemie Group, Sacha Laing has jumped ship to run the online beauty company.
Genesis Capital ups bid in private equity battle for Pacific Smiles
The kingmaker in the battle for Pacific Smiles and its 136 dental centres is co-founder Alex Abrahams, who expects more “twists and turns” to come.
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.
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.
- 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.
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Markets
The biggest risk in a Trump-Harris race for the White House
New York-based Australian fund manager Matthew McLennan from First Eagle argues that the lack of a fiscal hawk in the presidential race works in gold’s favour.
Perennial prepares to unleash war chest on small caps
After a bruising few years for the money manager’s smaller companies fund, Andrew Smith is readying his team for the next big buy: the August reporting season.
- 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.
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
‘Humaning’ and other nonsense: why we put up with corporate twaddle
Office jargon will always be unstoppable because it makes us feel more secure, more of an insider and more able to tell someone something pronto.
Columnist
How to burst the CFMEU’s balloon for good
Press the construction union, and it simply bulges up somewhere else. More tools are needed if the union’s long-term culture it is to change.
Industrial relations expert
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
Why the case for an August rate rise has been overdone
The RBA missed its chance to lift rates at the end of last year. Raising them now will be much harder to explain.
Economist
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
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
The grassroots campaign targeting a Labor weak spot
Keep The Sheep has raised close to $450,000 since it was founded earlier this year, and is promising to target federal Labor seats in Perth.
- Opinion
- Federal election
O’Neil jumps from the frying pan to the fire in deft reshuffle
Anthony Albanese’s reshuffle is a deft piece of people management. No-one can really argue they’ve been demoted, and it plugs holes that needed to be plugged.
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.
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.
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.
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World
- Analysis
- US election
Kamalanomics: Harris’ economic vision for America’s middle class
The Democratic campaign will challenge Donald Trump’s claims to represent working people and secure Joe Biden’s legacy.
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.
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
Workers are using AI in the office - but where are the rules?
Companies are starting to measure gains from generative AI. But research shows over half of Australian workers are using the technology without rules or guidance.
Freelancer boss accuses AI giant of ‘egregious scraping’
Matt Barrie says AI giant Anthropic is not obeying the rules of the internet, as the most aggressive scraper of website data to train its chatbot Claude.
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.
The Cybertruck is a culture war on wheels
Elon Musk’s Cybertruck is inspiring a lot of strong feelings.
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.
