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    A fighter jet lands on the USS Dwight D. Eisenhower in the Red Sea.

    Talks sanction more US bombers, fighter jets, spy planes in Australia

    Annual defence and foreign affairs talks will see Australia deepen its role as the US’s “unsinkable aircraft carrier” in a potential conflict with China.

    Lizzeth Neira is an international student from Colombia studying English and Marketing on the Gold Coast.

    ‘Careful what you wish for’: The hidden hit in foreign student caps

    Foreign student enrolments in Canada plunged far more than expected after the government capped visas, in a salutary tale for Australia.

    Nexus Airlines says it could fly on Rex’s WA routes as regional carriers warn on government bailout.

    Rex’s regional rivals eye an opportunity to expand into key routes

    But others in the industry are urging the federal government to step in and provide funding to ensure towns aren’t left without services and staff are paid.

    Glencore says ESG mood has ‘evolved’ and it will keep coal mining

    The Swiss-based commodities giant had proposed spinning off the fossil fuel into a separate company but has decided to retain the division.

    Investors are developing a ‘dirty’ little secret

    Glencore’s decision to keep its energy coal business is part of a broader push back against climate-related strategy shifts by big emitters. 

    Why the market doesn’t believe the RBA on rates

    Despite the surprisingly strong hawkish rhetoric from the Reserve Bank this week, bond traders (and some economists) aren’t buying it.

    Sydney’s tallest tower to test battered office market

    The Japanese property giant is seeking around $600 million for its 30 per cent stake, which would value the entire Salesforce Tower at $2 billion.

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    PARIS 2024

    Matt Wearn competes in the men’s dinghy race.

    Wearn goes for gold. Full Olympics schedule here

    Find the times and days of all your favourite sports right here with this interactive guide to the Paris Olympic Games.

    The gold medals keep coming – but not in our big team sports, so far

    Teen skateboarder Arisa Trew made Australian Olympic history. But in the big team sports, we’re down to just three hopefuls. Here’s what you missed overnight.

    Andrew Liveris with Aussie boxers Charlie Senior, Caitlin Parker, Callum Peters and Tiana Echegaray at Olympic Village

    Andrew Liveris learns how not to run an Olympics

    The president of the Brisbane 2032 Organising Committee has had a jam-packed schedule in Paris as part of a contingent learning what to do – and not do – for the Games.

    Stunning gold for 14-year-old Aussie skateboarder

    The skateboarder won in stunning style at the women’s park final, entering the history books as Australia’s youngest Olympic champion.

    What’s the future for the Boomers without talismanic Patty Mills?

    Australia, like many other basketball teams at the Olympics, relies on the outlier brilliance of one superstar. The coach admits it’ll be hard to replace him.

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    Companies

    Former Super Retail Group chief legal officer and company secretary Rebecca Farrell arrives at the Federal Court on July 31.

    Super Retail claims Harmers tried to surf in on deal with ex-executive

    The owner of Rebel Sport wants the law firm removed from a lawsuit, alleging it tried to protect itself from defamation as part of settlement negotiations.

    Former Fortescue chief scientist Bart Kolodziejczyk .

    Fortescue chief scientist fudged CV, court told

    Federal Court documents reveal a buried conflict within Fortescue’s ranks between Andrew Forrest and an Element Zero defector.

    Paul Graves is the chief executive of Arcadium. He is warning about the sustainability of mines as lithium prices remain depressed.

    Arcadium flags it may have to shut Mt Cattlin amid low lithium prices

    The chief executive of the world’s third-biggest lithium company, Paul Graves, says few mines make sense to operate, delaying growth projects.

    Western Australia’s Treasurer and deputy Premier Rita Saffioti.

    Energy needs count, WA warns EPA on gas approvals

    Governments cannot throw economic and energy security out the door in favour of environmental factors when assessing gas projects, the WA treasurer says.

    SkyBus operator hits the market as Macquarie completes global roadshow

    But after months of meetings, the investment bank’s deal makers face an uphill effort to sell Kinetic Group at the valuation that they are hoping for.

    Cannon-Brookes, Turnbull-backed solar maker cuts staff, replaces CEO

    SunDrive, which also counts Blackbird as an investor, is restructuring its business at the same time as it courts global partners to expand its operations.

    Dodgy kickbacks, faked tax returns found in RAMS, Westpac alleges

    Westpac said it would effectively shut down the 33-year-old RAMS brand this week amid an ASIC probe into the business.

    Companies in the News

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    Markets

    Noni B owner Mosaic Brands has thrown the focus on safe harbour provisions and whether they should be disclosed.

    ‘Safe harbour’ talk sends Mosaic Brands into rougher seas

    The obvious question to ask here is: should the company have disclosed this fact? The less obvious answer is no, not under ASX continuous disclosure requirements. 

    Investors expect volatility from the sharemarket rout to continue in the near term.

    Investors warn global rout may have not gone ‘far enough’

    Goldman Sachs, JPMorgan Asset Management and Capitol Group warn that volatility in the market is likely to persist after Monday’s brutal sell-off.

    A Republican sweep over Kamala Harris would give Donald Trump control of the White House, Congress and Senate, giving him unfettered power to pursue his agenda, says Marko Papic.

    There’s ‘only one outcome’ that really matters, and it’s not Trump v Harris

    Calmer markets mean investors are back to worrying about US politics and the Middle East conflict. But this leading strategist says both fears are overdone. 

    ASX lifts as GPT shines, Rio slumps

    Shares reverse early losses; Wall Street firms amid persisting volatility; shares in retailers and property lose steam; lower iron ore prices hit miners. Follow updates here.

    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.

    Opinion

    The big risk in Kamala Harris’ surprise choice for VP

    Tim Walz’s down-to-earth language was transformed into the equivalent of a magic wand, but there’s a risk in overlooking Josh Shapiro in a must-win state.

    British riots show importance of managing migration

    Australia can credit its overall success as a migrant nation on having got its immigration policy broadly right, and thereby avoiding an anti-immigration populist backlash.

    The AFR View

    Editorial

    The AFR View

    Future Made in Australia is already running off the rails

    The Albanese government has fallen into the trap of trying to achieve political wins at high economic cost. And nobody is stopping them.

    John Kehoe

    Economics editor

    John Kehoe

    Pressure is on Domino’s boss to deliver a turnaround

    US parent Domino’s Pizza and local chairman Jack Cowin are each becoming more involved in how ASX-listed Domino’s Pizza Enterprises is run, writes Carrie LaFrenz.

    Carrie LaFrenz

    Senior reporter

    Carrie LaFrenz

    Populist surge makes it essential to spread gains of migration

    Conflict over migration is now breaking out into the open in Western nations. But excessive limits would have a high cost too.

    Tanveer Ahmed

    Columnist

    Tanveer Ahmed

    The Fed will not let markets dictate a rate cut

    The US central bank reacts to the sharemarket only when volatility threatens financial stability. For the moment, there is no evidence that this is the case.

    Barry Eichengreen

    Economics professor

    Barry Eichengreen

    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

    Strata title reform is on the agenda for WA.

    Build-to-rent plan risks ‘repelling investors’

    Labor has been warned to redesign key elements of its plan to boost affordable rental stock around Australia.

    Authorities say a cyber incident happens once every six minutes in Australia.

    Companies to face fines for failing to disclose cyber ransom payments

    Legislation due to be introduced to federal parliament within weeks will require businesses with a turnover of $3 million or more to report payments to hackers.

    ABBA’s simulacrums on stage at ABBA Arena in London.

    Victoria’s budget woes put ABBA plans on ice

    However, despite the state’s debt pressures, the Victorian Chamber of Commerce says ABBA Voyage would generate hundreds of millions in revenue for Melbourne.

    Chalmers’ rebates not helping inflation, RBA warns

    Federal and state government energy bill subsidies will not help get inflation under control, and big-spending public sector budgets are making it worse, the bank says.

    Federal buybacks in Murray-Darling Basin to stem fall in water prices

    The Commonwealth’s plan to buy back 70 gigalitres of water entitlements in the southern Murray-Darling Basin has already lifted water prices in some markets.

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    World

    Police clash with right-wing protesters in Manchester at the weekend.

    UK police prepare for further clashes with far right

    PM Keir Starmer said this week authorities had agreed to mobilise a “standing army” of officers to deal with the anti-migrant and anti-Muslim disorder.

    Delaware judge Kathaleen McCormick.

    Elon Musk and the battle over who makes the rules for US companies

    Lawyers, judges and legislators are locked in a war of words in Delaware, the legal home of more US corporations than any other state.

    Goods for export in Qingdao in eastern China’s Shandong province.

    China’s exports slow in warning sign for economy

    Exports rose 7 per cent in July in dollar terms from a year earlier, falling short of economists’ median forecast of a 9.5 per cent gain.

    Folksy attack dog: Why Harris chose Tim Walz as VP

    The plain-speaking Minnesotan brings Midwestern colloquialism and progressive appeal to the Democratic ticket.

    Kamala Harris names her running mate

    The vice president introduced Tim Walz on stage, hailing him as a “fighter for the middle class” and touting a biography Democrats hope will broaden the ticket’s appeal.

    Property

    The Bayview Centre and its fast food outlets have sold for a combined $94.75m.

    Developer cashes in as investors spend $38m on fast food

    A vacant Bunnings purchased for $35m in 2020 and redeveloped into a homemaker centre with fast food outlets has generated $95m in total real estate sales.

    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.

    European property funds face redemption reckoning as $20b gets pulled

    Europe’s fund managers face a dilemma: selling more attractive assets to meet redemptions leaves them overexposed to beaten-up segments of the 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.

    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.

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    Wealth

    Help! My parents want to invite 20 of their friends to our wedding

    What to do when mum and dad help out financially but expand the guest list beyond your comfort zone.

    I watched 100 fintok videos – here are five finfluencers to follow

    Critics say you can’t explain complex issues in 30 seconds, but some young content creators on TikTok do it really well – particularly Australian women.

    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.

    Technology

    Kirsty Burrows is head of the sports safety unit at the International Olympics Committee. She says the terrible impact of online violence is now being aggrssively tackled with prosecutions.

    Olympics’ online trolls get taken down by AI

    Athletes have previously had to turn off their phones to avoid online abuse – this year artificial intelligence is helping to keep trolls at bay.

    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.

    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.

    Work & Careers

    The Health Workers Union and its secretary Diana Asmar are being investigated by the Fair Work Commission.

    HSU calls on Diana Asmar to stand down over ‘ghost’ services probe

    The Health Services Union wants its Victorian leader to stand aside after claims her branch spent more than $3 million for non-existent or “ghost” services.

    Top barrister Richard McHugh to be a judge

    The silk and novelist will join the NSW Court of Appeal on August 20

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    Life & Luxury

    Arthur Boyd’s Colonial Poet Under Orange Tree, 1979, measuring more than 1.5 metres high, is estimated at $250,000 to $350,000 in Smith & Singer’s August 21, 2024 auction in Sydney. The work is being sold from the estate of the late Sir James Wolfensohn.

    James Wolfensohn’s Australian classics lead $14m art sale

    The canvases by Arthur Boyd and Fred Williams adorned the Australian former president of the World Bank’s Manhattan apartment and lead Smith & Singer’s big mid-year sale.

    Australian Chamber Orchestra violinist, Satu Vanska, in collaboration with Sydney Dance Company dancers Emily Seymour and Liam Green, rehearsing at the City Recital Hall.

    This is why a ‘Frankenstein’ violin can still be worth millions

    The Australian Chamber Orchestra’s Satu Vanska is in a dream collaboration with the Sydney Dance Company, but has nightmares about losing her violin.

    Travel insider: a curated selection of top deals

    Introducing our new regular column of holiday ideas featuring new openings, cruises, adventures and more.

    “Habit stacking”, or forming a healthy habit at the same time as doing something you already do, can help as you age.

    Five tips for keeping strong from fit over-60-somethings

    These fitness veterans share their tips on how to keep moving – and disciplined – when later life gets in the way.

    Chevrolet Corvette ZR1 coupe,

    Chevrolet Corvette roars into another league

    The new-gen ZR1 is set to steal thunder as the most powerful Corvette, but Australians will have to wait.

    From the gallery