- Opinion
- Industrial relations
Let the CFMEU purge itself of the criminal, corrupt, and violent
Rather than politicised building codes, the best way to clean up the law-breaking construction is to empower legitimate officials who understand that a union’s special legal status comes with moral responsibility.
- Opinion
- Chanticleer
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.
- Updated
- Interest rates
No rate cuts before Christmas, says RBA governor
Michele Bullock has declared “near-term interest rate cuts are not on the agenda”, warning the economy remained too hot and ruling out decreasing the cash rate before Christmas.
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.
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.
Noemie Fox just won gold – but that was the least exciting part
Noemie Fox’s memorable gold medal has drawn attention to the new Olympic event that’s a bit like a whitewater Wacky Races.
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.
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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.
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.
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 just won gold – but that was the least exciting part
Noemie Fox’s memorable gold medal has drawn attention to the new Olympic event that’s a bit like a whitewater Wacky Races.
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.
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Companies
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.
Treasury Wine to offload Wolf Blass, Lindeman’s, Yellowglen
Australia’s biggest wine group will cop a $354m impairment and shop around its cheaper wine brands as part of a strategic reset for the Penfolds owner.
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.
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
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.
Coles boss banks on efficiency gains from new warehouse
Leah Weckert says better product availability will translate to higher sales following the opening of a major distribution centre in western Sydney.
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.
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Markets
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.
‘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.
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.
- Opinion
- Chanticleer
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.
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.
Opinion
RBA warns rate cuts are a no-go this year
Why interest rates won’t come down this year after all. They might even go up.
Columnist
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”.
Economics editor
Let the CFMEU purge itself of the criminal, corrupt, and violent
Rather than politicised building codes, the best way to clean up the law-breaking construction is to empower legitimate officials who understand that a union’s special legal status comes with moral responsibility.
Former Union Official.
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.
Economics professor
The case for splitting ASIC
Australia needs a dedicated financial industry conduct regulator, rather than a securities regulator that regulates everything.
Contributor
RBA holds prudent course on rates and inflation
Australia’s central bank is rightly refusing to take the soft option that would risk forcing it to confront less palatable choices later. The political debate needs to face up to this.
Editorial
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
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.
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.
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.
‘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.
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.
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World
‘This country is better than that’: Caroline Kennedy on Trump shooting
The only remaining child of John F. Kennedy says she’s ashamed there are still Americans prepared to resort to extreme violence because of political differences.
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.
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.
- Opinion
- Sharemarket
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.
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.
Property
The most expensive house sales outside Sydney
Recent sales of premium homes in top regional areas could challenge Sydney’s status as the country’s most expensive housing market.
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.
Surf Dive ‘n’ Ski founder lists neighbouring period buildings for $30m
Fadil Sadikay is selling the South Yarra apartments with a permit to turn them into a luxury development.
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.
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.
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.
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
- Analysis
- The Breakdown
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.
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.
- Exclusive
- Start-ups
‘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
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.
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.
Life & Luxury
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.
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.
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.
