Rex grounds city flights, Virgin steps in to rescue passengers
After just three years of trying, Rex is leaving the capital city golden triangle to focus back on regional flights.
It was called the ‘next Canva’, so Canva bought it
Canva has acquired AI design start-up Leonardo.AI in a surprise deal worth over $120 million. The ACCC is taking notice.
Aussies in Lebanon told: ‘get out while you can’
The government has plans to extract as many as 15,000 citizens from Lebanon using ferries if need be, but is urging them to leave now as there can be no guarantees.
Home building crisis worsens with young tradies out of work
The wave of construction insolvencies is worsening an undersupply of homes and skills shortages, as trade apprentices are forced to drop out of TAFE courses.
- Investigation
- Cyprus Confidential
Importers got rich on COVID masks; the shipment’s still on the dock
When COVID-19 erupted around the world, the race was on to secure masks and gowns. Middlemen were in lucrative taxpayer deals, even one which went awry.
Wong calls on China to rein in North Korea
The foreign minister acknowledged that countries all around Asia are beefing up their defence capabilities in response to China’s dramatic military expansion.
Why industry policies are no longer a ‘hidden’ trade war
The Productivity Commission’s deputy chairman has added to warnings that the federal government’s signature Made in Australia policy could fuel protectionism.
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paris 2024
He nearly drowned but Jack Robinson just beat the world’s best surfer
The Olympics might be in Paris, but the surfing competition is half a world away in Tahiti where conditions are “so dangerous, so crazy”.
‘They want to swim’: Meares shrugs off fears of filthy Seine
The $2.3 billion spent cleaning up the river may not be enough to ensure the triathlon’s swim leg through Paris’ historic heart goes ahead.
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.
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Companies
Carl’s Jr franchisees set to meet with US parent
As voluntary administrators consider the sale of 20 burger stores, some Carl’s Jr franchisees are still in business.
- Opinion
- Chanticleer
Fortescue plunge reveals huge shoes to fill
Fortescue was fortunate to have such a sticky institutional backer for as long as it did. Now, it needs to find broader support.
- Updated
- Aviation
Rex stops selling seats as board scrambles to stabilise airline
The board of embattled Regional Express will meet to decide on the airline’s fate after it stopped selling seats on flights between major cities, and as it evaluates a plan to simplify the business.
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.
$30m a year: how US lawyers are shaking up London’s ‘magic circle’
On the coat-tails of a private equity boom, American partnerships are bringing a long-hours, high-pay culture to the City. It’s not for the faint-hearted.
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.
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Markets
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
- 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.
Opinion
Rex turmoil flies into airline competition confusion
The Transport Minister seems too inclined to accept Australia’s two-airline syndrome, that a third player on the busiest routes will inevitably be trampled by Qantas.
Editorial
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
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
CFMEU appoints anti-corruption expert to solve issues ‘head-on’
The embattled union has appointed a leading corruption fighter, national secretary Zach Smith has revealed.
WA Premier stands by CFMEU amid workplace law shake-up
Western Australian Premier Roger Cook has defended a decision to keep his party aligned with the state branch of the CFMEU.
‘Offensive’ social media companies shamed for letting scams thrive
Financial Services Minister Stephen Jones says social media giants are “dragging their heels” in the fight against scams
Sydney metro line delayed days before opening
The National Rail Safety Regulator is yet to sign off on the $21.6 billion project’s latest section, just five days before the state government said it would open to passsengers.
ATO expose earns award nomination for AFR’s Chenoweth
The Australian Financial Review’s Neil Chenoweth has been nominated in the top finance reporting category for a series dubbed Cracking the Tax Office Omerta.
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World
Democrats feared Georgia was a lost cause. Not any more
Kamala Harris’s appeal with young people, working-age women and non-white voters has scrambled the dynamics in Georgia and other demographically similar states.
Protests erupt in Venezuela as nations denounce election result
The US and countries around the world denounced the official results of Sunday’s vote, which did not appear to match statistical estimates based on partial counts.
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.
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.
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.
