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    Governor of the Reserve Bank of Australia Michele Bullock said the board seriously considered raising the cash rate on Tuesday.

    Traders don’t believe the RBA’s warning on rates

    Bond markets are still wagering that the Reserve Bank will cut interest rates this year even as the central bank said it considered a rise on Tuesday.

    McDonald’s is the largest employer group to rely on the award minimum.

    McDonald’s hit with multi-employer bargaining push

    The retail union is using Labor’s new multi-employer bargaining laws to force McDonald’s back to the negotiating table for its first collective agreement in more than a decade.

    Reserve Bank governor Michele Bullock.

    Inflation to linger until 2026, RBA warns

    A surge in state and federal government spending means inflation won’t return to the RBA’s target band until December 2026, later than previously forecast.

    Euro summer madness is making markets look extreme

    It’s easy to forget what day-to-day life looks like on the other side of the world at the moment. But it is an important part of the market sell-off story.

    MinRes joins job cuts carnage in WA mining

    The Chris Ellison-led Mineral Resources is slashing its white-collar workforce amid iron ore mine closures and a retreat in its lithium expansion plans.

    RBA is in no place to comfort fearful investors

    The reality of Australia’s inflation problem means Michele Bullock has little room to encourage investors’ flagging animal spirits.

    RBA at odds with the market and the world

    A panicked market is convinced the central bank faced a simple choice. Its staffers clearly don’t see it that way, writes Jonathan Shapiro.

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    PARIS 2024

    Inside Gina Rinehart’s lavish party cruise for Aussie Olympians

    The billionaire iron ore magnate has been labelled the godmother of Australia’s swim team, and hosted a luxury cruise on the Seine to celebrate the Olympians’ success.

    One consulting firm stands out in a completely unofficial ranking of which has more Australian Olympians at the Paris Games.

    One consulting firm has more Olympians than the others

    In the hyper-competitive world of big four consulting in Australia, one firm stands out in a completely unofficial ranking of which has more Olympic athletes at the Paris Games.

    Noemie Fox celebrates.

    A fairytale for the Fox family – and a luxury party for swimmers

    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.

    Sister act: Noemie Fox joins sister Jess as gold medallist

    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.

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    Companies

    Fortescue Metals chief executive Dino Otranto.

    Iron ore producers must learn from nickel: Fortescue boss

    Australia must invest heavily in green iron or risk losing out to international competitors, chief executive Dino Otranto warns

    Sandstone escarpment and bim (rock art) on Jabiluka mineral lease.

    Jabiluka owner sues over axing of uranium mine permit

    ERA, majority-owned by Rio Tinto, lobbed the case in a bid to overturn the NT’s decision to revoke its lease to mine uranium in Kakadu.

    Woodside punished as investors query ‘marginal’ green projects

    The oil and gas producer had almost $2.6 billion wiped off its market value as investors struggled to accept projected returns on a large US acquisition.

    Pfizer’s Australian boss Anne Harris says more funding is needed to give Australians access to drugs to counter fatal superbugs.

    Pfizer invests $150m in Melbourne to fight superbugs

    The US pharma giant says the federal government must do more to ensure Australians can access new drugs designed to fight deadly superbugs.

    Liontown pleads case for fast-tracking lithium royalty relief

    Liontown Resources boss Tony Ottaviano says governments must act sooner rather than later on fiscal policy to avoid a repeat of the nickel exodus.

    AFL’s mystery man Dustin Martin bows out in unique style

    Dustin Martin and Tom Hawkins have both called time on their glittering AFL careers, but the famously media-shy Richmond star didn’t attend his own press conference.

    MinRes joins job cuts carnage in WA mining

    The Chris Ellison-led Mineral Resources is slashing its white-collar workforce amid iron ore mine closures and a retreat in its lithium expansion plans.

    Companies in the News

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    Markets

    A person looks at an electronic stock board showing Japan’s Nikkei 225 index at a securities firm.

    What is the yen carry trade, and why is it now melting markets?

    Japan’s debt market has long been an anchor for global investors thanks to rock-bottom interest rates, but the unwinding of that lucrative trade is adding to the panic.

    The ASX 200 is set to open lower as volatility persists.

    ASX rebounds after global rout; Woodside shares tumble

    Shares advance at the closing bell; US futures bounce back; Treasury Wine flags impairment; Coronado revenue slumps 10 per cent; Bullock says rate cut not on the agenda in 2024. Follow updates here.

    The ASX is tiling higher on Tuesday, recovering from its worst day of trading in four years in the previou session.

    ‘Fears are overblown’: ASX steadies as recession panic eases

    Australian shares were around 0.4 per cent higher, rebounding from the worst sell-off in more than four years.

    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.

    Why global investors find it so easy to sell Japan

    It is easier to sell Japan into a rout than any other Asian market, and unusually attractive to take profits from it right now because the gains this year have been so good.

    Opinion

    Rise in interest rates only narrowly avoided

    A rate increase was closer than many had assumed at the RBA meeting, and a more hawkish-sounding Bullock said it “was a very serious consideration”.

    John Kehoe

    Economics editor

    John Kehoe

    Bullock talks tough, but board can’t stomach raising rates

    The RBA has squibbed again this month. With long-run credibility on the line, it needs to focus on getting inflation inside the target band.

    Richard Holden

    Economics professor

    Richard Holden

    RBA at odds with the market and the world

    A panicked market is convinced the central bank faced a simple choice to prepare for interest rate cuts. Its staffers clearly don’t see it that way as the bank laid out the case for increases.

    Jonathan Shapiro

    Senior reporter

    Jonathan Shapiro

    Markets mayhem jangles investor nerves

    Why are markets are suddenly tumbling as sentiment turns down – and is this the start of something bigger?

    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.

    The AFR View

    Editorial

    The AFR View

    The case for splitting ASIC

    Australia needs a dedicated financial industry conduct regulator, rather than a securities regulator that regulates everything.

    Andy Schmulow

    Contributor

    Andy Schmulow

    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.

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    Politics

    There are calls for Prime Minister Anthony Albanese to provide ASIO director-general Mike Burgess with extra resources to deal with the rising risk of politically motivated violence.

    Warnings over ASIO workload because of heightened terror threat

    The ASIO chief admits the spy agency is “stretched” as it deals with twin challenges of politically motivated violence and foreign espionage.

    Plans to cap international students are both reckless and unworkable, a Senate hearing has been told.

    Foreign student crackdown is ‘economic self-sabotage’: uni chiefs

    The policy change is over-reach, interventionist, Draconian and probably unworkable, scores of experts told a a Senate inquiry.

    The NSW government is expected to lease more property with its McKell building already fully occupied

    NSW to lease more offices for public servants ordered back

    NSW is ready to lease extra office space after declaring it was time to end pandemic work-from-home conditions for its 80,000 public servants.

    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.

    ‘Wildly bizarre’: Qld Labor’s petrol price pledge panned

    Queensland’s extraordinary bid to open publicly owned petrol stations was panned by industry and economists.

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    World

    Women chant slogans while waving Palestinians flags during a rally in Baghdad, Iraq at the weekend to condemn the killing of Hamas leader Ismail Haniyeh in Iran.

    US personnel wounded in attack against base in Iraq, officials say

    It was unclear whether the attack was linked to threats by Iran to retaliate over the killing of Hamas leader Ismail Haniyeh.

    Benjamin Netanyahu is playing hardball – and going against the advice of security officials – on ceasefire negotiations.

    Netanyahu clashes with security chiefs on Hamas deal

    The Israeli PM is openly at odds with the defence establishment over an agreement that could ease soaring tensions in the region. Analysts blame domestic politics.

    Nobel Peace laureate Muhammad Yunus .

    Bangladesh protesters back Nobel laureate for government role

    Protesters have called for Nobel Peace Prize winner Muhammad Yunus to be named chief adviser of a new interim government after PM Sheikh Hasina fled the country.

    Two left: Harris set to name White House running mate

    Kamala Harris only has days to choose either Pennsylvania governor Josh Shapiro or Minnesota governor Tim Walz to be her vice presidential candidate.

    Trump seizes on market meltdown, blames Harris

    The former president sought to raise voter concerns about the health of the US economy, saying “we are heading to World War III”.

    Property

    The Victorian home dates back to the 1890s.

    Developer Guy Nelson puts period mansion on market

    The grand Victorian home on Sorrett Avenue in Malvern is being sold by the former Macquarie Group real estate boss and founder of developer Alpha Partners.

    Stable cash rate not enough to boost home buyer demand: analysts

    The uncertainty over potential rate cuts will weigh on buyer demand and slow price growth in Sydney and Melbourne, experts say.

    Predictions that the cash rate will remain at 4.35 per cent means that office values are expected to stabilise in December.

    What a cash rate hold means for REITs

    Office landlords face further asset write-downs this earnings season, but there may be little pain after that as interest rates stabilise, says Barrenjoey.

    Australia’s 10 most expensive homes are all in one location

    Wealthy home buyers splurged nearly a quarter of a billion dollars snapping up the country’s priciest mansions – in Sydney’s eastern suburbs.

    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.

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    Wealth

    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.

    Why you’re probably losing $1500 a year and what you can do about it

    With interest rates set to fall in coming months, now is the time to lock in a better rate on your savings.

    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.

    Technology

    Sundar Pichai, the chief executive of Alphabet – Google’s parent company –  was among tech bosses to testify.

    Google is a monopolist, but the egg can’t be unscrambled

    The company paid tens of billions of dollars to become the world’s dominant search engine. Even Microsoft couldn’t compete.

    Industry and Science Minister Ed Husic says Australia said the investment in PsiQuantum would “ensure our nation’s national security.”

    Coalition claims ‘$1 billion captain’s pick’ as PsiQuantum answers emerge

    New information reveals the Commonwealth engaged in a lengthy due diligence process before making a $1 billion bet on PsiQuantum.

    Blackbird partner Niki Scevak justified the decision to sell Leonardo rather than going all the way.

    ‘Harder and harder’: Why Canva’s $370m AI bet said yes

    AI dollars can be “fleeting” and competing with big players can cost hundreds of millions, setting the scene for Leonardo’s sale to Canva.

    Work & Careers

    The NSW government is expected to lease more property with its McKell building already fully occupied

    NSW to lease more offices for public servants ordered back

    NSW is ready to lease extra office space after declaring it was time to end pandemic work-from-home conditions for its 80,000 public servants.

    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”.

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    Life & Luxury

    Hobart based lawyer, photographer and antarctic adventurer David Sinclair.

    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.

    Superior Bungalow Pool View

    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.

    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.

    The free 24-hour dance piece, Today I Feel A Soft Breeze, began at 5pm on Bleach* Festival’s opening Saturday on the lake behind HOTA.

    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.

    From the gallery