Labor may speed up tax credit as lithium miners buckle
The Albanese government may bring forward the $17.6 billion critical minerals production tax credit after Albemarle said it would slash 300 jobs and shrink its giant WA facility.
- Opinion
- Canberra Observed
Like Howard, Albanese knows two heirs apparent are better than one
Labor’s leadership succession plan seems less obvious than it did six months ago, writes Phillip Coorey.
Top Gun games pull the trigger on deterrence
Exercise Pitch Black has pulled together air forces from 20 nations for practice missions over northern Australia as concern rises about collaboration between China and Russia.
PwC clears itself of misleading ATO on FIRB application
Three current and former PwC Australia CEOs will appear before parliament on Friday to testify about the firm’s tax leaks scandal .
- Opinion
- Chanticleer
Bidders having it both ways with ‘best and final’ threats
You’ve got to give it to the top investment bankers and lawyers – they’ve perfected the art of driving a truck through a two-inch gap.
- Exclusive
- Legal industry
How the NACC helped a global law firm take top spot for taxpayer work
“I think the NACC certainly has sharpened people’s focus on integrity,” says Holly McAdam, the firm’s head of Commonwealth government.
Rex was months behind payments, as ratepayers left to foot bill
The collapse of Regional Express into voluntary administration is bad news for local councils still reeling from the loss of Bonza, which also left unpaid airport fees.
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paris 2024
Chalmers snatches silver as gold medals dry up in pool
Zac Stubblety-Cook and Kyle Chalmers had to settle for silver, while favourite Mollie O’Callaghan missed the podium altogether.
Matildas coach exits after Olympic dream cut short
Tony Gustavsson informed the Matildas he would quit as coach after the 2-1 loss against the US, which ended their Olympic dreams.
‘Today was pure joy’: Fox rises into a new echelon with second gold
The canoe champion becomes the first Australian in history to win six individual Olympic medals – and could add still add another gold to her tally.
‘Like a video game’: How it felt to race in the Seine
These Aussie triathletes have been all over the world, competing in all sorts of conditions. But they’d never seen or done anything like this.
Matildas’ dream over after gut-wrenching defeat
The Matildas lost 2-1 to the US in a match riddled with errors and yellow cards. It was the team’s second loss in a group stage, meaning they are now headed home.
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review
How Kamala Harris took control of the Democratic Party
As speculation grew over President Joe Biden’s future, officials and campaign aides were quietly reminded a backup quarterback was already on the roster.
The venture capitalists who made J.D. Vance
Vance is the first prominent tech venture capitalist to win a spot on a major party presidential ticket, in a sign of the industry’s growing power.
- 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.
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Companies
ANZ knocks NAB off the home lending podium
ANZ is now the country’s third-biggest lender to households, boosted by the acquisition of Suncorp’s bank this week.
Crescent Capital returns with $327m bid for Pacific Smiles
The battle between private equity players Genesis and Crescent took another twist, with the owner of the National Dental Care network lifting its offer.
Noel Pearson appointed to Fortescue board
This is the Indigenous leader’s first public move following his keeping a low profile since the defeat of the Voice to parliament referendum in October.
Elders makes biggest wool investment in 20 years with robot handlers
Boss Mark Allison is rolling out the robots as the agribusiness makes a high-tech return to wool handling 185 years after its founders started out in the game.
Top law firms locked in negotiations for lucrative panel
Corrs, HSF, KWM and MinterEllison are yet to be appointed to the federal government’s legal panel, more than a month after an initial announcement.
Leaders remember Rod Carnegie, the man who shaped Australia
Leaders from mining, business, politics and science gathered at St John’s Anglican Church in Toorak for the memorial service for business giant Sir Rod Carnegie.
Labor may speed up tax credit as lithium miners buckle
The Albanese government may bring forward the $17.6 billion critical minerals production tax credit after Albemarle said it would slash 300 jobs and shrink its giant WA facility.
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Markets
Pinnacle funds under management hits record $110b
The multi-affiliate investment manager recorded a 20 per cent jump in assets in 2023-24, with international clients accounting for the bulk of net inflows.
Fed’s rate cut conviction sweeps RBA up in global easing hopes
Markets are fully priced for Jerome Powell’s September easing, but economists do not share the same enthusiasm that the Reserve Bank may not be far behind.
- Opinion
- Chanticleer
Fed will cut in September but beware ‘rate cuts equals rally’ mood
First Australia dodges a rate hike, now the US is set to cut rates. Markets are rallying, but history says investors should be careful.
This is the world’s cheapest monopoly, according to Morgan Stanley
Portfolio manager Bruno Paulson explains why he bought shares in Chicago Mercantile Exchange and says the market is right to question returns on generative AI.
ASX tops 8100 points; oil gains on MidEast worries, DroneShield sinks
Australian shares reset record high. Meta rallies after its results beat expectations. Regulator backs Namoi Cotton buyout. Follow updates here.
Opinion
Like Howard, Albanese knows two heirs apparent are better than one
Labor’s leadership succession plan seems less obvious than it did six months ago.
Political editor
Albemarle sounds warning on critical minerals processing
The US-based firm’s decision to reduce output from its lithium hydroxide plant and write down much of its investment demonstrates the flaws in Australia’s plan for greater domestic processing of critical minerals.
Columnist
Productivity Commission shines light on economic costs just as Whitlam wanted
Before riding in on a white horse to stage an ‘ESG takeover’, critics should take more than a cursory glance at the work the commission actually does.
After Rex’s failure, here is the answer to Australia’s airline competition problem
It would be in the national interest – and Qantas’ – for the government to create a successful duopoly by biting the bullet on foreign ownership of Virgin.
Aviation expert
Inflation helps government dodge interest rate bullet
The June quarter figures were not good, but they also weren’t as bad as feared. That is likely to give the Reserve Bank breathing space to keep interest rates on hold next week.
Columnist
How China would work with Future Made in Australia
Chinese economic modernisation encompasses enormous potential for bilateral cooperation in emerging sectors such as green development and the digital economy.
Ambassador to Australia
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
Top Gun games pull the trigger on deterrence
Exercise Pitch Black has pulled together air forces from 20 nations for practice missions over northern Australia as concern rises about collaboration between China and Russia.
PwC clears itself of misleading ATO on FIRB application
Three current and former PwC Australia CEOs will appear before parliament on Friday to testify about the firm’s tax leaks scandal .
Greens prepared to be flexible on housing demands
The Greens say their demands to curb the CGT exemptions and negative gearing deductions are not a condition of their support for housing bills in the Senate
- Exclusive
- Weight loss
Next blockbuster weight-loss drug to launch in Australia this month
Novo Nordisk’s Wegovy is about to go on sale here, avoiding the prospect of a supply disaster when compounded Ozempic is banned.
The rate rise backers now calling for cuts
Economists have joined traders in dramatically revising their interest rate bets after the RBA’s preferred measure of price pressures eased to 3.9 per cent in the June quarter.
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World
US to push for Gaza ceasefire despite assassination setback
The US effort to secure a pause in the Israel-Hamas war and free Israeli hostages was thrown into question after the assassination of Ismail Haniyeh.
- Analysis
- North Korea diplomacy
On the front line of North Korea’s nuclear threat
The possibility of another Trump presidency has global leaders nervous about Kim Jong-un’s erratic behaviour. Would a second mandate tame or embolden “little rocket man”.
‘Is she Indian or black?’ Trump says Harris became a black person recently
The former president also told the National Association of Black Journalists that his choice of Senator J.D. Vance as vice president will not matter to voters.
Fed says September rate cut is ‘on the table’
Jerome Powell said “a reduction in our policy rate could be on the table as soon as the next meeting in September” as the Federal Reserve held rates steady.
How Kamala Harris took control of the Democratic Party
As speculation grew over President Joe Biden’s future, officials and campaign aides were quietly reminded a backup quarterback was already on the roster.
Property
Unit prices rising faster than houses in 60pc of all suburbs
Units are predicted to continue to outperform houses in the foreseeable future, even as the gap in values widens.
QIC property funds head quits
David Asplin, a 12-year veteran of the firm, has left just days after Michael O’Brien quit as the real estate division head.
San Francisco to ban rent-setting software amid gouging worry
The ban opens a new front in a long-running controversy over the role of software in setting rents as an affordability crisis worsens in many American cities.
The best countries for digital nomads to call home
Nine of the top 10 countries for digital nomads’ quality of life are in Europe, including some surprises such as the Netherlands and Norway.
Two surprising cities to pass Melbourne home values within a month
The shift in the ranks comes as prices continue to increase sharply across Adelaide, Perth and Brisbane, while Victoria’s capital and Sydney weaken.
Wealth
- Opinion
- Super Q&A
Can I access my super if I sell my business and go part-time?
Even if you have not yet turned 65, you may be eligible to start a transition-to-retirement pension.
Is it possible to pay no income tax?
It is nonsensical to spend money just to get a tax deduction because you’re still out of pocket.
- Opinion
- Superannuation
What to do to with your SMSF if you’re moving overseas
The Tax Office requires trustees to pass three tests if they wish to maintain tax benefits.
Technology
- Analysis
- The Breakdown
The AI delusion says ‘we’re all going to get rich quick’
That sum is the staggering gap between what tech companies are making from selling artificial intelligence and the likely costs of running it.
- Exclusive
- Start-ups
Canva’s AI prize Leonardo traded for $320m, dividing VC industry
The valuation has been so closely guarded some investors have refused to tell their own backers how much Canva paid for the start-up.
‘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
Work & Careers
The six tips that stuck with 2024’s BOSS Young Executives
There’s no single route to the top. But a few good habits will help you on your way.
I won’t be bullied into stipulating my pronouns. Even if I get fired
Why do my colleagues feel they must bring gender activism and their self-actualisation journeys into the office? Because I don’t.
Life & Luxury
How weightlifting strengthens more than muscles for retail strategist
Kelly Brown, co-founder of an e-commerce agency, finds pumping iron reduces her stress levels as she strives to hit personal bests.
Deadpool & Wolverine film review – on its way to cinematic immortality
This “action-comedy” has more blood-letting than any other superhero movie, but its “R” rating hasn’t stopped it making financial history.
- Drinks With Max Allen
- Wine & spirits
Getting a taste for grenache? Try these new old-vine examples
South Australian producers are serving up a bunch of great grenaches – here are four you need to know about.
An $8.2m result affirms Ron Walker and Denis Savill’s taste in art
Just 28 works owned by two men who spent decades doing deals delivered one of the best auction results of the year.
How much champagne is too much? Depends on the airline you’re flying
We joined Singapore Airlines on a whirlwind tour of its premium suppliers across France’s Champagne region. This is what we learnt.
