- Opinion
- Chanticleer
How the Qantas board fell for the cult of Joyce
A scathing review of the national carrier’s board tells the story of a highly successful chief executive whose growing power was not adequately challenged. It ended badly for everyone.
Bullock issues rate rise warning as Labor breaks with RBA
The governor’s remarks come amid a split between the central bank and the Albanese cabinet on whether government spending is fuelling inflation.
- Analysis
- Government Observed
Hybrid working mishmash for 1.7m government workers across Australia
The NSW government’s push for public servants to work from their offices has left a jumble of work arrangements for the nation’s largest employers.
Brokers reveal ‘bargain’ stock picks after ASX meltdown
Analysts are hunting among the rubble of this week’s sharemarket crash, which they say has created an opportunity to snap up some growth and cyclical stocks at bargain prices.
‘I’ll make you more money’: Inside Seymour’s CEO pitch
The candidates had unofficial campaign managers and developed manifestos. Lobbying was done in the office, over drinks, during the weekend. And like any good election, the voters’ main concern was what was in it for them.
- Live
- Markets Live
Mining and property stocks drag ASX down; AMP jumps 12pc
Shares lower; AMP’s profit rises; former Qantas boss Alan Joyce to lose more than $9 million in bonuses; Myer warns on profit; iron ore falls below $US100. Follow updates here.
Vance pulls tarmac stunt as US swing state battle kicks off
Kamala Harris and her new running mate, Tim Walz, hit the swing state of Wisconsin to sell their economic message – followed closely by Republican rival J.D. Vance.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
PARIS 2024
Medal mania: This is Australia’s best Games ever
Australia won four gold medals in five hours, surpassing the record set in Athens and Tokyo. Here’s what you missed overnight.
The new king of skateboarding worries he’s too old. He’s 21.
Keegan Palmer joined fellow Gold Coaster Arisa Trew in taking gold. It was his second, and he wants more. But the skateboarder frets he might be past his prime.
Australia snatches cycling gold as Brit rivals suffer last-gasp disaster
The great sports rivalry between Australia and Britain was on full display as the Aussie men’s pursuit track cycling team won gold for the first time in two decades.
Aussie hockey player apologises after Paris cocaine arrest
Kookaburras player Tom Craig was released with a warning and apologised after being arrested for allegedly trying to buy cocaine on the streets of Paris.
Super sailor Wearn wins second straight gold – after agonising delays
Australia’s Matt Wearn endured weather hold-ups and was forced to race his final twice before securing his second consecutive gold in the men’s dinghy.
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Companies
- Updated
- Earnings season
Transurban investors get bigger payday but growth prospects scarce
The tollroad giant reported a quadrupling of profits in the last financial year, with higher dividends expected. But it faces slower growth on its roads.
Creditors owed $22m in Mighty Craft beer collapse
The beverages group, which owns 25 per cent of zero carb brand Better Beer, owes money to Pure Asset Management and KPMG, according to its creditor list.
New punters to halve under Labor’s gambling crackdown, brokers warn
One of the sector’s most respected analysts has told clients that the racing industry will be some $6.4 billion worse off over time from the proposed changes.
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.
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.
- 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.
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.
Companies in the News
Search companies
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Markets
New signs of weakness in US economy, as consumers halt spending
Disney theme parks, Airbnb home rentals and Hilton hotels are among the latest companies seeing weaker consumer demand.
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.
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.
Hedge funds were busy buying the dip amid turmoil
As trillions of dollars were being erased from global equity markets on Monday as investors fled, some fast money was stepping back in.
- Analysis
- Interest rates
Is Japan ready for a ‘world with interest?’
An entire generation has grown up knowing nothing but yields near zero and mortgage rates that seemed to get cheaper by the year.
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
Why Harris’ new running mate is no J.D. Vance
Tim Walz is a blue-collar moderate who branded the Trump-Vance ticket “weird”. His working-class appeal can help Democrats prevail in swing states.
Columnist
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
What does China make of America’s topsy-turvy election?
Beijing will have trouble working out whether a hard or soft approach to a new US administration will work best.
Geostrategist
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
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
Labor working ‘arm-in-arm’ with RBA on inflation, Albanese insists
The prime minister has pushed back on claims that federal government spending is making it harder for the Reserve Bank to tame inflation.
Labor’s $3.6b pre-election pay boost for childcare workers
The government will fund a 15 per cent, $3.6 billion pay rise for child care workers over the next two years on the proviso their employers agree to limit fee increases until after the election.
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.
- 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.
- 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.
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World
Vance pulls tarmac stunt as US swing state battle kicks off
Kamala Harris and her new running mate, Tim Walz, hit the swing state of Wisconsin to sell their economic message – followed closely by Republican rival J.D. Vance.
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.
Taylor Swift concerts cancelled over terrorist attack fears
Two suspects were arrested one day before the singer’s first concert date in the Austrian capital Vienna.
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.
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.
Property
How this Brisbane couple added a sea change to their downsizing
Susie and Glenn Molloy wanted to live close to the water after one of their parents passed away, so they moved to a duplex near Port Stephens in NSW.
Mirvac shares take a hit as higher costs to hurt earnings
The property developer’s profit margins on residential development have fallen below its average due to the high costs of its apartment projects in NSW.
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.
- Exclusive
- Luxury property
Vacant Vaucluse mansion asking $30m
In Sydney’s Vaucluse, an 1890s manor, sitting on more than 2000 square metres, has hit the market guiding $30 million.
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.
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
How geopolitical tension is changing ANZ and its clients
Geopolitical risk is hitting boardrooms with a bang, with ANZ the first of the big four banks to create a specialised unit.
- 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.
Life & Luxury
- Driving With Tony Davis
- Motoring
Pagani lifts lid on its glamorous $5m hypercar
The Utopia Roadster is a rare beast, with only 130 units expected to be produced.
MrBeast’s giant game show faces safety complaints
Some of the contestants vying to win the $US5 million prize say they lacked access to food, water and medication, and competitors were injured.
- Drinks With Max Allen
- Wine & spirits
Family revives its rum brand to satisfy thirst for spirits
Sydney’s Red Mill is one of three delicious – and different – new Australian rums that are a credit to their inventive distillers.
Shorts are back this summer. Here’s how to wear them
Briefs are the business for everyone this spring, and they are shorter than ever.
The $840 perfume that some say is on the nose, and other exotic luxuries
We’ve reeled in a ring, some square sunnies, sleek swimwear and more in this week’s inspiring selection of goodies.
