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.
- Exclusive
- International students
‘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.
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.
- Updated
- Carbon challenge
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.
- Opinion
- Chanticleer
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.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
PARIS 2024
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 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.
Loading data centre
Get the front page and latest edition of the Financial Review as it was printed, delivered to your inbox every morning.
Companies
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.
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.
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.
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
Search companies
View stories and data from an ASX listed company
Markets
- Opinion
- Insolvency
‘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 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.
- Opinion
- Chanticleer
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.
- 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.
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.
Columnist
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.
Editorial
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.
Economics editor
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.
Senior reporter
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.
Columnist
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.
Economics professor
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
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.
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.
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.
- Updated
- Interest rates
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.
SPONSORED
World
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.
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.
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.
- Analysis
- US election
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
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.
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.
- 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.
Technology
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.
- 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.
- 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.
Work & Careers
- Exclusive
- CFMEU
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
Life & Luxury
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.
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.
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.
- Driving With Tony Davis
- Motoring
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.
