- Opinion
- Chanticleer
$3b deal shows how BHP dusted itself off and tried again
Mike Henry was disappointed his $75 billion takeover bid for Anglo American failed. But his latest deal helps to show investors he has many other ways to play the copper bull story.
- Updated
- Aviation
Rex stops selling seats as EY called in
The regional carrier is understood to be working with EY, which could be appointed as administrator at an emergency board meeting on Tuesday night.
- Live
- Markets Live
ASX slides as BHP drops 1pc; Fortescue plunges 10pc
Shares fall after a sell-off in commodity stocks; BHP buys Toronto listed copper miner Filo; Ramsay appoints ex Woolworths executive; Rex shares still suspended; Fortescue hit with $2 billion block trade. Follow updates here.
- Opinion
- Chanticleer
Why Australia’s No.1 hospitals business poached a supermarkets boss
Ramsay Health Care chairman David Thodey is trading in deep industry knowledge and expertise for a consultant’s mindset. Will it work?
Don’t bomb Beirut: US urges Israel to rein in response
Washington is racing to avert a full-blown war between Israel and the Iranian-backed Lebanese group Hezbollah after the soccer field attack that killed 12 children.
Air NZ becomes first major airline to dump emissions targets
The Albanese government is under pressure on aviation fuel mandates after Air New Zealand abandoned its 2030 target.
Dealmakers face tougher ‘public benefit’ test on mergers
Businesses using public interest grounds such as climate change action or financial stability to get takeover approvals will face a stricter hurdle from the ACCC.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
paris 2024
2000 customers: Zac’s big plans for gold outside the pool
In June, swimmer Zac Stubblety-Cook qualified for the Paris Olympics and began his first business. “I’ve definitely burnt the candle at both ends,” he says.
Heartbreak and heroism in the Paris pressure cooker
A sobbing end to Harry Garside’s boxing hopes and a “disaster” for the Opals, but “happy tears” for O’Callaghan and Titmus. Here’s what you missed overnight.
‘Nervous wreck’ O’Callaghan leads new generation of swimmers
It was a come from behind race for the ages, as Mollie O’Callaghan defeated Ariarne Titmus in the 200m freestyle.
The best pictures from day three of the Olympics
The photo highlights from day three include a crashing skateboarder, a colourful equestrian moment and a golden finish for Australia’s swimmers.
He borrowed a horse - and then won an Olympic medal
Rank outsider Chris Burton grabbed an unexpected silver medal in eventing on a borrowed horse he has only been riding for five months.
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tech tuesday
- Exclusive
- Mergers & acquisitions
Melbourne start-up buys out AI compliance software firm in first deal
IntelligenceBank has used the funds raised from its US-based private equity backer to splash out on Sydney-founded Red Marker, from global education giant Kaplan.
- 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.
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.
- 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.
- Opinion
- AI
Why Australia needs its own AI large language model
If we are to retain our economic and cultural sovereignty, Australia needs to develop AI that reflects Australian values.
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Companies
BHP in $3.2b South American copper deal
BHP will step into Argentinian copper under a $US2.1 billion ($3.2 billion) deal with the famous Lundin family to take a Canadian explorer private.
Harmers lodges claim against Super Retail, CEO and chairwoman
The former head of legal for the company which owns Rebel sport is now looking to the Federal Court to enforce a settlement deal she allegedly reached in May.
Potash giant says life about to get harder for BHP
Global fertiliser giant Nutrien predicts big challenges ahead for BHP as it tries to make an expensive leap into potash production.
ACCC wants banks to make foreign exchange calculators more accurate
The regulator has proposed changes to FX calculators to ensure banks subtract fees, so customers have genuine transparency.
Woolworths in leadership limbo after exec becomes Ramsay CEO
After missing out on the CEO role at the retailer, Natalie Davis will take over from long-serving Ramsay boss Craig McNally who will step down next year.
Meet the secretive US billionaires bidding for Fletcher’s Tradelink
The final bidder turnout shows Tradelink has emerged as a trade play, albeit one that has attracted an interesting cast of characters.
Streaming, catch-up services on verge of eclipsing TV advertising
Revenue growth has slowed significantly across the media and entertainment sector – particularly in news – a widely followed annual PwC survey has found.
Companies in the News
Search companies
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Markets
- Opinion
- Sharemarket
Three ASX companies jockeying to be the next biotech winners
Clarity Pharmaceuticals reports it eliminated prostate cancer in a patient; LTR Pharma wants to sell nasal viagra; and Opthea has clinical trial results soon.
Investors brace for bruising earnings season as stocks teeter
Investors are treading carefully this reporting season as overly optimistic earnings expectations baked into the sharemarket could come unstuck.
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.
ASX climbs amid broad rally; Fletcher slumps after profit hit
Shares advance; Adore Beauty names Sacha Laing as chief executive; Fletcher expects $NZ30m hit to earnings; Kogan sees ‘positive trend’ in sales; Bitcoin hits six-week high. Follow here for more.
Fund suspended from accepting new money after NDIS closures
Property investment platform Domacom has been blocked from raising new funds following a Financial Review probe into aggressively marketed NDIS investments.
Opinion
Australia can’t afford for economic security to trump trade in Asia
Economic diplomacy that builds interdependence with China in critical minerals and green energy will contribute to Australian prosperity and security, not detract from it.
Trade expert
Beware propping up ‘bricks and mortar’ hospitals disrupted by ‘virtual care’
Australia needs a big picture reimagining of how to organise and pay for the kind of healthcare services an ageing society needs, setting aside scare tactics about ‘US-style managed care’.
Editorial
AUKUS critics fail to match their speculation with substance
There is a long list of loud objections to the project. But how many of them really stand up to scrutiny?
Defence strategist
The luxury industry is falling from its elevated heights
The broader fall in luxury consumption has come as a shock to an industry accustomed to attaining ever greater heights, apart from in its pandemic slump.
Contributor
Why the Productivity Commission is wrong about green subsidies
The independent government agency has an outdated neoliberal mandate that needs an ESG makeover.
Financial industry expert
We need to clear the runway for new gas supply
Growing acceptance from governments of the role of gas in the energy transition is yet to translate into actions to clear the backlog of projects stuck in regulatory approval purgatory.
Oil and gas industry representative
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
Labor braces for higher inflation, interest rates
Prime Minister Anthony Albanese sought to exonerate the government from rising inflation and a possible rate rise, arguing Labor’s two budget surpluses have helped the RBA reduce price pressures.
New ministers target CFMEU, people smugglers and Greens
Murray Watt cited a CFMEU clean-out as his number one priority, Clare O’Neil refused to yield to the Greens on housing, and Tony Burke headed to Indonesia to talk tough on people smuggling.
‘Not a coherent word’: Keating slams PM, Marles over AUKUS
Former prime minister Paul Keating says there has been no proper debate about AUKUS’ impact on Australia’s defence settings, as a new report backs the delivery schedule.
The price rises creating a big 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.
Quad expands maritime coverage to combat China aggression
Quad member countries will expand their maritime data sharing program as China’s aggression in critical waterways ramps up.
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World
These key voters are blocking Harris’ path
The vice president needs to lift her support among non-white and working-class voters if she is to stand a chance against Donald Trump, new analysis shows.
- Opinion
- US election
Unfunny J.D. Vance shows why he’s no Trump
The former president’s running mate lacks charisma, charm and a sense of humour – and has real ideology on critical issues.
Harris backs Biden’s call for Supreme Court reform
The president’s proposals include term limits for justices and a constitutional amendment on presidential immunity.
Meloni vows to ‘relaunch’ cooperation with China
Italy was the only Group of Seven country to join the massive Belt and Road Initiative, but it withdrew last year under US pressure over Beijing’s economic reach.
Israel hits Hezbollah for Golan carnage, but eyes Gaza truce talks
PM Benjamin Netanyahu has vowed to exact a ‘heavy price’ from Hezbollah, which has been trading fire with Israel across the Lebanese border in solidarity with Hamas.
Property
NSW’s eviction rules will trigger landlord ‘exodus’
The NSW government’s proposed ban on evicting tenants without reasonable grounds will spark landlords’ exodus and deprive the state of billions of dollars in investments in the rental sector, property investors warn.
Thai family targets distressed sellers for luxury hotel growth plans
Earp Siriphatrawan, whose family owns the 415-room Amora Jamison Sydney Hotel, says distressed vendors have created a buyer’s market.
Trend-setting Toorak mansion for sale for the first time in 70 years
Ballara was one of the first Toorak homes to be built in the simpler California bungalow style that soon spread across suburban Melbourne.
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.
Wealth
Where to invest as the tech megacap rally eases
Signs that equity investors are getting cold feet over the rapid advances in artificial intelligence leaders have put a spotlight on some less obvious beneficiaries of the technology boom.
- 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
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.
- Opinion
- AI
Why Australia needs its own AI large language model
If we are to retain our economic and cultural sovereignty, Australia needs to develop AI that reflects Australian values.
- 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.
Work & Careers
Offices get busier as jobs market tightens
New data suggests the sharp uptick in office attendance at the start of the year has marked the beginning of a longer-lasting shift.
‘I’m going to get a margarita, and I’ll be back’: why CEOs work on holidays
With remote work now the norm for large numbers of professionals and connectivity at near constant levels, for many senior people in business, switching off completely is unrealistic.
Life & Luxury
The cheap vegetable that could save your life
According to a new study, eating carrots increases carotenoids in your skin. These phytonutrients lead to a lower risk of chronic disease and a stronger immune function.
The suburbs where Australians drink the most champagne
Baby boomers are big drinkers of imported bubbles, but younger consumers are driving demand for alternatives such as prosecco.
The five best exercises to beat burnout and stress
Knowing what type of exercise to focus on when needed is key to allowing the stress chemicals to move through you more effectively.
- Analysis
- US election
‘Um, so what is brat?’
The British pop star is providing the soundtrack to Kamala Harris’ presidential campaign.
The six best hotels in Tokyo under $750
While entry-level luxury hotel rooms start at about $US800, there are still great deals to be had. And costs bottom out in August when the weather is maximally hot and humid.
