PwC leaders at war over tax scandal
PwC’s former general counsel says she repeatedly advised then chief Luke Sayers and the governance board that legal professional privilege was being misused.
- Analysis
- Monetary policy
Don’t pop champagne on interest rate cuts just yet
Inflation data nixed the danger of an interest rate rise next week, but former RBA economists are split on the outlook from here.
Worst day for ASX in a year as US recession fears surge
Australian shares ended their worst session in more than a year on Friday after fears of a hard economic landing returned in droves in the US overnight.
Tony Burke has eyes on job that comes after Home Affairs
A successful stint in his new portfolio would boost Burke’s leadership chances – but the opposition won’t let up on what it sees as a weak spot.
- Opinion
- Building Bad
Bogus email address shows Allan’s CFMEU crackdown is a joke
The Victorian premier’s snap review of alleged criminal activity in the construction industry went 11 days without so much as an email address for whistleblowers to use, writes David Marin-Guzman.
Higgins cast Reynolds as villain in ‘fairytale’: lawyer
Senator Linda Reynolds was cast as a villain in a “fictional story” constructed in Brittany Higgins’ mind, lawyers say.
Transurban’s Brisbane toll road operations scrutinised by council
The company has been forced to hand over toll road operational manuals to the Brisbane City Council after the government authority demanded information on responses to traffic accidents.
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paris 2024
What’s on today? 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.
Gold medals to bottom rung: The tough switch from Olympics to business
Moving onto work wasn’t easy for Rob Scott, Kieran Perkins or fellow medallist Rob Jahrling whose life story demonstrates resilience and focus any business would prize.
Australia’s swimming champs deliver relay gold again
The Australian women have delivered another gold, with a record-breaking win in the 4 x 200m freestyle relay.
The big shift is underway as Games move from pool to track
Jemima Montag’s bronze in the 20km walk signals the start of the Olympics’ transition from swimming to athletics. Here’s what you missed overnight.
- Opinion
- Paris 2024
A Chinese doping scandal in Olympic swimming has become all-out war
US media accused the World Anti-Doping Agency of keeping secret Chinese swimmers’ positive drug tests. WADA says it’s stuck in the middle of a geopolitical fight.
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review
America will emerge from this horror show triumphant
A British historian who witnessed the US in turmoil last century predicts it will stage a national political resurgence.
How Taylor Swift got very, very rich
The tale of the singing star being exploited by a ruthless, male dominated music industry isn’t the full story.
- Analysis
- Russia
Should the US consider assassinating Putin?
Despite the Russian president’s obsession with intrigue, denial and deception, he is a fairly predictable adversary, writes a former CIA officer.
- Opinion
- Israeli-Palestinian conflict
The world should realise Israel is fighting five wars
The Jewish state’s conflicts are more about ideas than they are about geography.
Buoyed by subsidies, Rex Airlines can rise again
The failure of the discount airline’s national strategy doesn’t spell the end of Rex, this aviation expert says.
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Companies
The luxury bubble is bursting and not even Cettire is safe
Prestige fashion is in a state of crisis as sales plunge and stocks pile up. For Cettire, which has operated in the grey market, this is its moment of truth.
Optus’ Australian accounts show $480m loss
Optus filed its own accounts with regulators this week showing its annual loss deepened more than six-fold from a year earlier.
Rex chairman John Sharp breaks silence on CEO pay deal
Rex CEO Neville Howell is essential to keep the airline’s regional flights running because his employment is tied to its air operator certificate.
Marinus Link makes billion-dollar cable commitment
The order should ensure the $3 billion-plus project to build a second power link to Tasmania starts up in 2030 when the energy market operator says it’s needed.
Gambling ad crackdown imminent as sports, media join secret meetings
Sporting codes, wagering and media companies have been summoned to private meetings with Communications Minister Michelle Rowland.
Transurban’s Brisbane toll road operations scrutinised by council
The company has been forced to hand over toll road operational manuals to the Brisbane City Council after the government authority demanded information on responses to traffic accidents.
US blocks subsidies for Albemarle lithium made in Australia
Albemarle says a block to subsidies under the Inflation Reduction Act had been a major factor in its decision to slash workforce and to curtail investment in WA.
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Markets
ASX dives 2.1pc as NAB, CBA, Westpac slammed
Shares plunge; Macquarie eyes $1b hybrid issue; Afterpay’s Nick Molnar promoted to head of sales for Block; ResMed revenue up 9pc; Follow updates here.
Worst day for ASX since SVB crisis as US recession fears surge
Australian shares ended their worst session in more than a year on Friday after fears of a hard economic landing returned in droves in the US overnight.
Amazon shares drop as AI costs spook market
Like Microsoft earnings earlier in the week, Amazon investors are ignoring profits, and starting to worry about whether big AI investments will ever be recouped.
You can get iPhones much cheaper in China, but they still sell better here
As the tech industry obsesses about new AI features, sales of iPhones are still the core of Apple’s earnings reports.
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.
Opinion
Election timing no longer swings on an elusive rate cut
The government is at the mercy of the Reserve Bank. But the central bank is also subject to forces beyond its control.
Columnist
Paris shines in the glory of Olympic gold
Paris has used its unique sights and attractions as the backdrop to its Games. But in terms of organisation too, this is the one that Brisbane must learn from in 2032.
Editorial
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
Why investors should take notice of Japan’s resurgence
With its equity market finally breaching highs not seen since 1989, there is growing evidence Japan’s structural reforms are working.
Contributor
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
Iran is playing a dangerous game
There are plenty of reasons to be suspicious of Benjamin Netanyahu’s motives. But Tehran has an even uglier strategy to disrupt the Middle East.
Contributor
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
Vacancy rates show overseas students being scapegoated: unis
New analysis shows locals in Australia’s three biggest cities have a better chance of finding an apartment in suburbs with large international student populations.
Allan urged to resist foreign student crackdown ahead of India trip
Melbourne University has urged the Victorian premier to push back against the federal government’s crackdown on international students ahead of her trip next month.
Fair Work names CFMEU administrator, seeks extraordinary powers
The FWC has chosen a senior barrister to administer the union and wants to give him sweeping powers to follow dirty money and sack officials. The CFMEU says it’s taking legal advice.
Inside the depraved mind of Hamas’ last man standing
Israeli interrogator Micha Kobi believes only one fate can befall Hamas’ leader Yahya Sinwar: “He must die”.
Sayers, Seymour round on Burrowes over global conflict
Former chief executives Luke Sayers and Tom Seymour have expressed surprise at Kevin Burrowes’ second role with PwC International. How the day unfolded.
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World
Aid workers still at risk after Australian’s death: report
A former military chief says Israel should formally apologise and offer compensation to victims of bungled drone strike after serious failures by soldiers.
Journalist back on US soil in historic Russia prisoner swap
Reporter Evan Gershkovich arrived home, along with other US prisoners freed from Russian jails, following the largest such deal with Moscow since the Cold War.
- Analysis
- US election
Trump keeps going rogue on Harris. Republicans are frustrated.
Donald Trump’s team says it aims to beat Kamala Harris by blaming her for illegal border crossings and inflation. Instead, he’s launching personal attacks.
Israel’s spies take their revenge with twin assassinations
Israeli security officials view the deaths of Hezbollah and Hamas leaders as a redemption of sorts.
Hamas leader killed by remote controlled bomb smuggled into room
An explosive device hidden in a heavily guarded complex where Ismail Haniyeh was known to stay in Iran was what killed him, according to an investigation.
Property
Investor borrowing picks up to a two-year high
Vacancy rates have risen and rent growth is slowing, but Australia’s tight housing market is attracting investors, especially as confidence about interest rates grows.
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.
Wealth
Why Gen X needs to think about retirement right now
A new generation of just over 5 million Australians – born between 1965 and 1980 – is approaching retirement.
There are five types of investor. Which are you?
The best investing advice is 2500 years old and comes from Greek philosopher Socrates: Know yourself.
- 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.
Technology
Why this earnings season is the end of an era for Apple
The AI era is upon Apple, and all of its tech peers, and the stories it tells its investors and customers about its products are about to change forever.
Intel plans 15,000 job cuts after AI fumble
The US chipmaker said it will also reduce capital spending as its turnaround strategy hits another setback.
- 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.
Work & Careers
How an Iranian refugee landed Australia’s biggest software deal
When Altium CEO Aram Mirkazemi landed at Hobart Airport as a refugee from Iran he had very little English, but six weeks later he was studying at university.
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.
Life & Luxury
‘You don’t embarrass the New Yorker in Trump’ says military adviser
Chris Miller, a former acting secretary of defence and Project 2025 contributor, says the AUKUS military alliance will be fine if Donald Trump wins the election, but Vladimir Putin could be in a jam.
Drought of boys in ballet creates problems for budding ballerinas
They are one half of a pas de deux, yet males are deserting ballet schools in alarming numbers. Queensland Ballet has gone all-out to reverse the trend.
High cholesterol critical factor in development of dementia, study finds
Scientists have for the first time linked high cholesterol and vision loss to the onset of dementia, including them among 14 risk factors.
Can a healthy diet help autistic children to thrive?
It’s early days but researchers are hopeful that diet could be a key factor in easing some symptoms of the condition.
Ultra-luxe pyjamas, Wedgwood dog bowls and other unexpected delights
Elevate the everyday with our selection of household items and wardrobe staples given an extra-special twist.
