- Opinion
- Chanticleer
Wall Street’s night of fear could have been much worse
The sea of red on Wall Street on Monday night doesn’t tell the story of the outright panic that spread before the market opened.
- Live
- Markets Live
ASX to extend losses; RBA November rate cut on the table
Shares poised to fall as Wall Street tumbles; Treasury Wine flags $290 million non-cash impairment; Coronado revenue slumps 10 per cent; Reserve Bank cash rate decision pending. Follow updates here.
The emails that almost destroyed PwC Australia
Insiders thought it was a “joke” for PwC to both advise the government on tax reform while helping clients exploit those reforms. One meeting sent the Tax Office over the edge.
The Fox family’s fairy tale, and the swimmers’ day of celebration
The sport of kayaking might’ve passed you by until now, but the feats of Jess and Noemie Fox will make them household names. Here’s what you missed overnight.
Australians to get fast entry to US in global program
Thousands of Australians will become eligible for express entry into the United States from 2025 under a new deal.
- Live
- Need to Know
Qld Labor wants to cap fuel price, open state-owned stations
Premier Steven Miles will unveil a cost-of-living pitch to voters; Penny Wong joins US in urging de-escalation at “critical moment” for Middle East; How day 10 of the Olympics unfolded. Follow live updates.
- Exclusive
- International students
Unis to be capped at 40pc overseas students
The federal government will limit universities to 40 per cent international enrolments and bring numbers back to 2019 levels.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
PARIS 2024
Noemie Fox joins sister Jess as gold medallist with kayak win
The kayak cross champion has finally come out from behind the shadow of her legendary sister Jess.
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.
Aussies diving, jumping, climbing their way to gold. Full schedule here
Find the times and days of all your favourite sports right here with this interactive guide to the Paris Olympic Games.
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.
Australian swimmers fall one race short of breaking 68-year hoodoo
Every Olympics, Australia and America fight to top the swimming medal tally. In Paris, it came down to the wire.
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TECH TUESDAY
Australian venture capital firms face a battle for their future
Venture capital firms are under pressure to secure funding, as superannuation funds re-evaluate their investment options.
- 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.
- 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.
- 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.
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.
Get the front page and latest edition of the Financial Review as it was printed, delivered to your inbox every morning.
Companies
Inside the boardroom civil war that brought Rex to its knees
Bad blood turned executives at the carrier against one another – just as its major lender was trying to sell the airline’s assets to Bain Capital.
- Exclusive
- Property development
Home building faces Productivity Commission probe
The new inquiry comes amid housing industry doubts that the Albanese government will achieve its goal of 1.2 million homes to be built over the next five years.
- Updated
- Gas
Woodside’s $30b Browse LNG project faces EPA knockback threat
The recommendation is not final and could be reversed after further negotiations, but a final rejection would be a blow to Labor’s long-term gas strategy.
Woodside signs $3.7b deal to buy lower-carbon ammonia project
The acquisition of the gas-based ammonia project under construction in Texas is by far the biggest move by the producer into the “new energy” space.
EnergyAustralia returns to profit as prices jump
After two June halves of heavy losses, EnergyAustralia has surged back into the black, buoyed by sharply higher wholesale prices when renewables fell short.
Closing Eraring would have driven up power bills: research
Electricity prices would be $55 a megawatt-hour higher if Origin were to close the coal power plant next year, the government was told.
Pacific banking diplomacy game will evolve beyond Nauru
The government should look to provide support to Vanuatu – another “high risk” nation – as it tries to convince CBA to bank in Nauru and ward off Chinese influence.
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Markets
Market panic risks dragging down global growth, economists warn
Analysts say economies in the US and elsewhere are not “nosediving”, but they flag the threat of “self-fulfilling” investor jitters.
What happened overnight? US equities dropped as buyers held back
The pace of selling gathered momentum as the session progressed in New York, as moves to pare losses proved fleeting.
- Opinion
- Chanticleer
Why the market’s favourite trades are blowing up
For most of the day it was just a nasty sell-off. But by the end of Monday’s brutal session on the ASX, it was clear something much worse was at play.
Goolsbee warns on Fed, downplays recession fears
Chicago Fed president Austan Goolsbee says the Fed can’t be over-restrictive when it comes to rates, amid fears the central bank has been too slow to cut rates.
Markets price in half-point US rate cut in September
A global market meltdown has opened the door for a 50 basis point interest rate cut at next month’s Federal Reserve policy meeting.
Opinion
Markets mayhem jangles investor nerves
Why are markets are suddenly tumbling as sentiment turns down – and is this the start of something bigger?
Columnist
Recession fears no reason for RBA rate cut
It remains a long bow to suggest the sell-off by rattled investors heralds a hard landing in the US economy and a global recession.
Editorial
It wasn’t Sydney landing slots that sent Rex into a spin
Rod Sims and other critics of government aviation policy should analyse the facts before obsessing over slot-hoarding.
Former regulator
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.
CEO
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,
Former Labor minister and economist
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
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
Qld premier promises state-owned petrol stations, fuel price controls
Steven Miles’ pre-election pitch will “take on the multinational oil companies” in a daring market intervention proposal.
Extremism rising across the board makes terror attack ‘probable’
Security officials are alarmed by Australians embracing more extreme ideologies over issues such as pandemic lockdowns, the war in Gaza and economic hardship.
- Analysis
- National security
The politics of grievance has become something more sinister
Ever since 9/11, terror alerts and politics have been inseparable, but that doesn’t mean there isn’t substance behind them either.
Frustration, confusion and Andrew Tate driving extremism in the young
Extremism experts warn that young men are becoming radicalised after looking to social media for simple answers to complicated economic and social questions.
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.
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World
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.
- 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.
Israel braces for attack as US urges Gaza ceasefire
Benjamin Netanyahu told a cabinet meeting “Israel is in a multi-front war against Iran’s axis of evil”.
Bangladesh protesters to march on government after deadly clashes
At least 91 people were killed and hundreds injured on Sunday in a wave of violence in the country of 170 million, as police fired tear gas and rubber bullets.
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.
Property
Melbourne developers offer big rebates as unsold lots surge
Discounts of up to $35,000 are available and low deposits are being accepted as unsold stock rises to almost 3000 lots.
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.
Deals in build-to-rent market ready for lift-off, says US giant
Build-to-rent housing is potentially a big contributor in efforts to plug the country’s chronic housing shortfall which has sent rents skyrocketing.
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.
This 23-floor Manhattan office building just sold at a 97.5pc discount
It is the latest and perhaps most surprising sign of how the pandemic has upended the state of office buildings in New York, the largest CBD in the US.
Wealth
The one thing this Rich Lister says every founder needs to remember
Sam Kroonenburg built a company from his bedroom, with him and his brother Ryan both making about $500 million. But Sam, 40, is doing what he can to avoid the trappings of wealth.
- Exclusive
- Wealth Generation
Where you can afford to buy without breaking the 30pc rule
See how suburb-level affordability across Australia’s three biggest capital cities has changed over the past three decades.
- 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.
Technology
Google loses landmark antitrust case over search deals
The US court’s decision is a significant victory for the Department of Justice in its litigation over the power of big tech.
Did Russia just sabotage our Samsung Watch Ultra?
A series of strange results while testing Samsung’s latest smartwatch may have a surprising explanation.
- 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
Dead email address for CFMEU evidence a ‘technical issue’, Allan says
The Victorian premier has defended Labor’s investigation into illegal activity in the construction industry against claims it is a “smokescreen”.
NSW public servants ordered to return to office
Updated guidelines call for more than 400,000 public servants to be in offices “across the whole working week”.
Life & Luxury
Why middle-aged men are so competitive
There is always someone at school sports day who treats the parents’ race as a fierce contest – this time it was me.
This lawyer lived a double life for 20 years. Now he’s going all in
After almost two decades of taking time out from his day job at some of Australia’s largest companies to lead adventure tours, David Sinclair is launching his own travel company.
Crete’s iconic Blue Palace opens new chapter
With a growing collection of resorts, two local sisters are staying true to the proud heritage of Greece’s largest island.
How to do Gold Coast’s Bleach festival
If you still think the Goldie is all about surf and schoolies, the exciting, eclectic and inclusive Bleach* Festival will prove you wrong.
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.
