- Opinion
- Chanticleer
ASX investors caught out by a brutal bear panic
This isn’t just investors fretting about bad news. It’s investors fretting about bad news and panicking about the fact they are simply not positioned for it.
- Opinion
- Monetary policy
RBA must say no to the Recessionistas out there
The Reserve Bank is taking its dual mandate seriously and seems to be ignoring the incessant clamouring for another rise in the cash rate, writes Craig Emerson,
- Updated
- Gas
Woodside’s $30b Browse LNG project faces EPA knock-back threat
The recommendation on Woodside’s $30 billion Browse development could be reversed after further negotiations, but a final rejection would be a blow to Labor’s gas strategy.
Macquarie splashes $816m on giant South Korean data centre
The asset manager’s acquisition comes as it prepares to sell its stake in AirTrunk in a transaction that is expected to value the local giant at $15 billion.
- Investigation
- PwC tax scandal
‘We couldn’t believe it’: Insiders reveal how PwC unravelled as scandal broke
The inside story of how PwC transformed from dull accountant into a sales-driven firm that would tear itself apart.
Qantas, Virgin’s hold on Sydney Airport slots to face challenge
Long-awaited changes to Sydney Airport are finally materialising as Labor commits to maintaining regional flights.
Reynolds’ claims ‘retraumatising’ Higgins, court told
Lawyers for Brittany Higgins have hit back at claims she cast Senator Linda Reynolds as a villain in an imaginary fairytale, calling them “harassing”.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
paris 2024
Water polo’s golden girls have feisty medallist in their corner
Gold medallist turned coach Taryn Woods says her sport has to be prepared to do what it needs to ensure exposure and inclusion.
- Exclusive
- Paris 2024
No horsing around: Harvey Norman boss Katie Page at the Games
Page is now Aussie showjumping’s biggest backer, and has come to watch the horses. After looking around, she reckons Paris is the template for future Olympics.
Aussie high jumpers atop the ‘perfect podium’
Four athletes from two nations - Australia and Ukraine - who have dominated women’s high jump recently, celebrated on the mat after sharing the three medals.
So close, but it’s silver for our swimmers as a new Fox rises
It took the last race to split Australia and the US in the pool, and a shock upset to split the Fox sisters. Here’s what you missed overnight.
Less than a whisker – Lyles breaks seven-man tie to win 100m
The stadium scoreboard initially could not separate the first seven runners in the blue ribbon race. All eight ran under 10 seconds.
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MONDAY MEDIA
- Analysis
- Media & marketing
Murdoch thinks Fox, News Corp worth more right wing
At the heart of Rupert and Lachlan Murdoch’s bid to change the family’s “irrevocable” trust is an idea Fox and News Corp are more valuable as conservative outlets.
TV networks to demand fee relief as $40m wagering hole opens up
Sports codes, wagering firms and media companies have a week to make their pitch to the Albanese government, after secret briefings on Thursday and Friday.
Paul Keating’s prediction about Nine-Fairfax goes both ways
Also, the secondary effects of a strike at Nine Publishing land as others seek meetings; and who Seven West Media has hired to manage its crisis PR.
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.
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.
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Companies
Ex-Macquarie exec Ben Brazil triumphs over Vietnamese billionaire
Brazil’s FitzWalter Capital is seeking $270 million in compensation from Vietjet, one of Asia’s largest airlines, which failed to return four Airbus aircraft.
Ramsay tips lower earnings, hospital capex weak
Ramsay Health Care says full-year earnings will be weaker than expected as it flags writedowns on its European operations.
ASX valuations mask grim reality of a softening economy
Sharemarket investors need to factor in that central banks cut interest rates when economies slow and profit growth splutters.
- Exclusive
- Mergers & acquisitions
CBA tapped to bank Nauru and block Beijing in Pacific
When Bendigo & Adelaide Bank announced it would stop servicing the island to “reduce complexity”, the federal government took notice and turned to CBA.
- Exclusive
- Healthcare
Hospitals seek right to boycott big insurers from funding talks
Catholic-operated private hospitals want a major shake-up of the way they negotiate funding deals with health insurers, in an escalation of tensions between the two sides.
- Analysis
- Due diligence
DroneShield: a capital markets plaything or the real deal?
Even as sceptics question its valuation, the drone detection and jamming group has a near $1 billion market capitalisation.
Korea seeks Australian lithium to secure US subsidies, sideline China
The US offers electric carmakers tax breaks for sourcing components from it and its free trade partners such as Australia and South Korea, not China.
Companies in the News
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Markets
ASX charts worst day in four years; tech stocks crumble
The sharemarket ended the session 3.7 per cent lower. Wall Street tumbles after July jobs miss. ResMed unscathed by market-wide rout. Follow here for more.
Traders bet on rapid rate cuts as recession fears deepen
Bond prices are soaring globally after weaker US jobs data rattled investors and prompted traders to dial up the need for urgent rate cuts in both the US and Australia to stem an economic downturn.
US recession fears may give RBA confidence to cut sooner
A sudden deterioration in the US jobs market could give the Reserve Bank of Australia confidence that it’s done enough to slow the economy.
Lessons from 40 years of investing, from one value investor to another
Dougal Maple-Brown discusses his family’s decision to sell the famed Sydney boutique founded by his father, the late Robert Maple-Brown.
RBA to hold rates steady as inflation gets closer to target
The central bank is expected to oversee a “straightforward” meeting this week, after last week’s inflation result took the heat out of tightening fears.
Opinion
Why I’m glad I dumped my industry super fund
After his SMSF regularly beat the performance of his former industry super fund for over a decade, Tony Boyd urges more Australians to take control of their super.
Contributor
Beware the march of the childless voter
The number of non-reproducers is already large and it’s rising, and unfortunately for J.D. Vance, these people may not have kids, but they do have votes, writes Pilita Clark.
Columnist
Labor must call an inquiry to permanently clean up the CFMEU
Amid the seeming powerlessness of anti-corruption bodies and the traditional reluctance of the police to investigate industrial relations matters, the call for a royal commission appears justified.
Editorial
Five fixes are called for to clean up the CFMEU
Australia has a once-in-a-generation opportunity to rid our biggest construction union of ingrained criminal and corrupt conduct. We cannot afford to miss it.
Contributor
No smoking gun to lift rates, but RBA should still pull trigger
The underlying dynamics of the Australian economy are very different to the US. The cash rate is still too low to ensure inflation sustainably returns to target.
Economist
Will Trump get the weaker greenback he wishes for to restore manufacturing?
Because there is some truth to the assertion that the US dollar is too strong, whoever the next president is could get lucky with the dollar.
Columnist
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
‘Be aware, not afraid’: Terror warning raised to probable
Security officials are alarmed by Australians embracing more extreme ideologies over issues such as pandemic lockdowns, the war in Gaza and economic hardship.
Beazley names state ‘most vulnerable and worthwhile’ to attack
The former defence minister says a nuclear submarine is vital to protecting the resources industry, urging an even harder line on blocking Chinese investment in critical minerals.
PM’s Indigenous economic plan ‘not enough’
Businessman and Voice advocate Sean Gordon says many Aboriginal and Torres Strait Islander communities are not well placed to benefit from renewables development.
- Exclusive
- Big four consultants
Big four’s river of gold from taxpayers slashed 50pc
The Department of Defence recorded the biggest fall in spending as Labor cuts the public service’s reliance on outside advice.
Telling overseas students what they can study is ‘pointless’
Dictating what overseas students can and cannot study to help Australia’s skills profile achieves little because 84 per cent of them go home, ANU analysis says.
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World
Democrat split intensifies as Harris chooses running mate
The final stage of the campaign to be Kamala Harris’s vice-presidential contender has reached an ugly phase as moderate and progressive donors, interest groups and rivals lobby for their preferred candidates.
Starmer calls emergency security meeting after weekend of riots
Violence erupted in towns and cities including Rotherham, Blackpool and Bristol over the weekend in the first major test for the new Labour government.
- Exclusive
- AUKUS
Powerful Republicans back AUKUS under Trump
Australia will have sovereignty over US nuclear-powered submarines it buys under the AUKUS pact if Donald Trump is elected president, two senators told the AFR.
- Opinion
- Global economy
Shouldn’t the world thank China for producing too much stuff?
If trade policy were about consumers, the US and EU would thank China for its cheap EVs, batteries and solar panels and its contribution to lowering carbon emissions.
- Opinion
- US election
Beware the march of the childless voter
The number of non-reproducers is already large and it’s rising, and unfortunately for J.D. Vance, these people may not have kids, but they do have votes, writes Pilita Clark.
Property
Centuria buys into Nvidia boom with office-friendly data play
It has acquired a half stake in data centre operator ResetData for $21 million, to repurpose its underperforming offices and jump on the AI bandwagon.
Vendor goes for ‘bird in hand’ to sell terrace for $1.43m
In a market with two camps of buyers, those on the rebound are acting faster than those thinking the market might slow more.
- Exclusive
- Pubs
Lenders tried to sell Jon Adgemis’ pubs to Justin Hemmes’ Merivale
Merivale was shown internal financial spreadsheets by one major lender, but ultimately decided against exploring a deal, sources said.
Rate reprieve fails to ignite auction markets
Preliminary auction clearance rates slumped across Sydney as home buyers remained cautious and terrified to commit, amid still high mortgage and holding costs, experts say.
- Exclusive
- Accommodation
Brookfield eyes $2b student beds portfolio
Canadian giant Brookfield spies opportunity for expansion in the sector, despite looming disruption from government caps on foreign student enrolments.
Wealth
- Opinion
- Philanthropy
Philanthropy needs reform to be more inclusive and effective
Philanthropy is not just for the 1 per cent. To maximise the impact of giving, all registered charities should qualify for tax-deductible status.
Buffett halves his Apple stake in $116b stock dump
The cash pile at Berkshire Hathaway has soared to $US425 billion as Warren Buffett struggles to find stocks to buy.
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.
Technology
- Opinion
- Digital Life
It’s the battery life, stupid: Why we love Lenovo’s new laptop
Microsoft’s Copilot+ PCs are supposed to be all about the new AI features. But until Recall arrives, all we care about is their fabulous battery life.
- Exclusive
- Venture capital
Blackbird, Tiger Global-backed start-up shares valued at zero
Retail AI start-up Hivery has had to cut costs, staff and had two co-founders depart. Its biggest local investor has now written a stake down to $0.
- Exclusive
- AI
This Aussie unicorn is paying millions for a chief AI officer. Should you?
SafetyCulture is on the hunt for its first AI boss as companies scramble to find executives to help unlock billions of value from the hot technology.
Work & Careers
Canberra Airport developer Terry Snow dies aged 80
Terry Snow’s biggest legacy was in property development and philanthropy but his family also praised him as “a family man and a man who sought adventures”.
Telling overseas students what they can study is ‘pointless’
Dictating what overseas students can and cannot study to help Australia’s skills profile achieves little because 84 per cent of them go home, ANU analysis says.
Life & Luxury
Get off the grid to explore Japan’s undisturbed islands
In this part of Japan, there’s no word for retirement in the native tongue. A unique, immersive cruise itinerary will help to reveal why.
A watch that was more than 160 years in the making
A rare selection of historic Three Bridges calibres from Girard-Perregaux is coming to the About Time Watch Weekend.
The IVF initiative saving the Great Barrier Reef
Scientists are making huge advances in restoring the reef by introducing what amounts to a vast IVF program for heat-stressed coral.
Three tests that prove you’re exercising too hard
It sounds counterintuitive, but dialling down the intensity of your workouts could help you get faster and burn more fat.
Australia’s best beachside boutiques
Forget malls. When you’re at the seaside you want to discover treasure, and these stores deliver. BYO sandy feet.
