- Updated
- Earnings season
Foxtel on the block as News Corp confronts reality of streaming
The publishing and broadcasting multinational says there is acquisition interest in its pay television arm after a year-long study of its assets.
Former Super Retail executive claims CEO spat at staff in meeting
The allegation, made in court filings, suggests Anthony Heraghty presided over a dysfunctional workplace and improperly spent funds. He denies the claims.
Buy the dip: Twenty-six shares fundies would snap up in another rout
More wild market swings are predicted in coming months by some experts. We asked fund managers where they see opportunity.
Lehrmann, Macgowan torpedo NACC ‘conspiracy theory’ over submarine leaks
Ex-political staffer Bruce Lehrmann and his one-time media minder have had their homes raided by the anti-corruption watchdog.
- Opinion
- AUKUS
What we don’t know about AUKUS
American government agencies keep revealing information about AUKUS that our own government will not, writes Laura Tingle.
Threat to customer safety cited in call to end sparkie work bans
Endeavour Energy has launched legal action to stop months of industrial action, as other power workers join to form a triple threat to major projects in NSW.
Higgins rape case judge calls for greater judicial accountability
Michael Lee urged media outlets to more aggressively fight suppression orders, which he said should only be used in a “small range of cases”.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
PARIS 2024
- Explainer
- Paris 2024
Freezes and flares: The newest Olympic sport explained
Breaking is the latest sport to appear at the Olympic Games. But how does it work, how do you win and can you make any money from it?
Boilover in the pool as Aussies stun US to seek water polo gold
The increasingly confident women’s team have defied the odds to beat three-time Olympic champions the United States and book a place in the final.
What’s on today? Check out the full 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 rush dries up – but there are still feel-good Aussie wins
Mere seconds came between Australia and a brace of golds on Thursday, but our water polo women had enough joy for everyone. Here’s what you missed overnight.
Paris was gold for Noah Lyles and Simone Biles. It was also great for Netflix.
The US sprinter may be unhappy, but there are a bunch of business executives in the United States who will quietly deem his Olympic campaign a success.
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REVIEW
AFR editor-in-chief Michael Stutchbury’s 17 most memorable front page stories
On his final day as editor-in-chief, Michael Stutchbury reflects on the stories that have chronicled the changing face of Australia, won awards, and ended careers.
- Opinion
- Visual art
Too many children are being encouraged to follow their dreams
If history has taught us anything, it’s that there are no risks to a young artist giving up on their dreams.
- 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
- Refugees
As the world looks elsewhere, famine descends on Darfur
Conflicts in the Gaza Strip and Ukraine have attracted international attention while children die unnecessarily in Sudan.
How the big bet on electric car gigafactories went badly wrong
A glut of batteries is good news for anyone buying an electric vehicle, but it’s slowing development of the capacity needed in the future.
Get the front page and latest edition of the Financial Review as it was printed, delivered to your inbox every morning.
Companies
Former Rich Lister applauds Tritium sale despite $100m up in smoke
Former coal baron Trevor St Baker says the $45m sale of collapsed EV fast-charging station group Tritium crystallised a big loss for him, but new owner Exicom will be a good steward.
QBE punished as price rises peak
Heightened competition and tighter household budgets are constraining its ability to push up prices and widen profit margins.
Gold saves the day as Diggers deals with the nickel and lithium rout
The annual Kalgoorlie conference was abuzz with the hopes and dreams of nickel and critical minerals groups – last year. How different things are now.
‘Nerds gone wild’: Inside PwC’s last party before it all blew up
It is the days-long party now described as the last hurrah before the storm of the tax leaks. Within six months, the scandal would change the firm forever.
Life360 shares hit all-time high, announces 70m users
Market darling Life360 continued its share price rally on Friday after lifting its revenue and earnings guidance for the full year.
Psychedelics as a serious investment? These billionaires think so
Australia is among the first countries to use the drugs for treating anxiety, depression and PTSD. A decision in the United States could be pivotal.
- Updated
- Earnings season
‘People have more money, but we have not seen it’: Nick Scali CEO
The retailer has recorded a slide in sales as shoppers stay away from big-ticket purchases.
Companies in the News
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Markets
Why this week’s market drama may be only halfway done
A week of immense panic on global markets has ended with an uneasy calm and big questions about what comes next.
It’s been a brutal week on the sharemarket. Now come the aftershocks
Strategists have warned that Friday’s relief rally could be short-lived, despite better-than-expected jobs data in the US soothing some economic anxieties.
ASX rallies, but drops 2pc on the week
Shares rally; Whitehaven Coal given legal nod for Narrabri; NewsCorp to sell Foxtel; QBE posts $1.2b profit; Life360 ups guidance; Nick Scali profit slides. Follow updates here.
Here’s how this climate fund smashed the market
Munro Partners portfolio manager James Tsinidis talks about the power crunch in the US, how Nvidia can double its earnings and names a small cap that he thinks is too cheap.
What happened overnight? Wall Street rallied as recession fears faded
Australian shares were set to open 1.1 per cent higher. US jobless claims data eased outlook worries. Gold was above $US2400. Oil eyed $US80. Bitcoin reached for $US60,000.
Opinion
Australia has its own secret Olympic recipe
The point can be stretched too far, but there is a line from our sporting success to our economic, social and cultural success.
Editorial
The Reserve Bank of Australia’s credibility is shot
The central bank’s hawkish pivot has no credibility given it is not willing to do the bare minimum and raise interest rates in line with global peers.
Columnist
What we don’t know about AUKUS
American government agencies keep revealing information about AUKUS that our own government will not.
Columnist
Can our prosperity survive a year of political madness?
Public policy is now swinging in the populist wind. And it’s hard to imagine the election of a government that can rationally take back control of it all.
Editor-in-chief
RBA returns serve on inflation
The RBA’s take down of government spending is reverberating loudly in Canberra and can only undermine Labor’s key argument that its fiscal policy complements monetary policy.
Columnist
Indispensable Joyce became excess liability for Qantas
That the former CEO stayed on long enough for hubris to set sad is reality behind an often striking success story.
Editorial
Politics
- Analysis
- Monetary policy
‘Hottest ticket since Cold Chisel’: Bullock returns home to Armidale
The RBA governor’s formative years helped make the country’s most high-profile economist a ‘tough’ leader.
RBA to cut rates three times next year
Economists expect the Reserve Bank of Australia will deliver its first post-pandemic interest rate cut in February 2025.
Plan for 25,000 homes on racecourse site a ‘fantasy’: inquiry
Peter V’landys and Mark Latham clashed in a fiery hearing as the Australian Turf Club blamed a “high Indian population” for declining Rosehill racecourse crowds.
Marles denies sinister meaning in AUKUS ‘political commitments’
The new AUKUS treaty does not lock Australia into accepting nuclear waste from the US and UK, or commit to joining a war over Taiwan.
- Exclusive
- Legal industry
Lawyer fees for class action against BHP top $680 million
BHP’s portion of the costs for the 22-week trial are forecast to be about £108 million, according to documents filed with Britain’s High Court.
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World
New signs of weakness in US economy
Disney theme parks, Airbnb home rentals and Hilton hotels are among the latest companies seeing weaker consumer demand.
Why Coke’s $24b epic tax battle is staying hidden
The stakes of a fight with the US Internal Revenue Service over “astronomical” profits in low-tax countries are visible only in fine print.
No such thing as work-life balance for Airwallex’s Lucy Liu
The co-founder of the payment platform says she would plan her whole year in advance if it was possible.
- Analysis
- Russia-Ukraine war
Ukraine punches through Putin’s lines in surprise war tactic
A government in Russia’s Kursk region declared a state of emergency as Ukrainian forces advanced several kilometres across the border.
Trump says debate back on, lashes ‘radical left’ Harris
The former president and Republican candidate taunted his Democrat opponent while recommitting to a face-off against Kamala Harris after earlier backing out.
Property
- Exclusive
- Luxury property
Historic home to smash Sydney’s inner west record with $27m guide
The harbourside abode is one of the grandest historic homes on a coveted street in Birchgrove.
The Agency sacks CEO following period of underperformance
Geoff Lucas’ exit comes just three years after he left rival top-end real estate firm McGrath.
- Exclusive
- Luxury property
$40m-plus Northbridge waterfront eyes north shore record
The sprawling home on 3434 square metres, the suburb’s largest waterfront estate, last traded for $21 million in 2017.
- Updated
- Earnings season
Building cost rises create horror year for Mirvac
One of the country’s largest property developers says profit margins on some big apartment projects have halved, pushing earnings significantly lower this year.
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.
Wealth
What to do with your money in market meltdowns
Investors are jittery after US recession fears triggered a global market rout this week. But sudden downturns are a good time to review your investment plans.
- Opinion
- Aged care
Rooms in aged care now cost $800 a week
Those who can’t afford the full accommodation deposit need to watch out for an 8.35pc sting in the tail.
- Opinion
- Property market
The maths justifying rentvesting has changed. Here are the numbers
It’s a popular strategy for building wealth but how does rentvesting stack up after 13 rate rises?
Technology
Apple plans its smallest computer ever
As part of an overhaul of the Mac line with AI-focused M4 chips, the Mac Mini will get its first big redesign since it was revamped under Steve Jobs in 2010.
- Exclusive
- Venture capital
Brumby urged to follow Breakthrough Victoria CEO out the door
The chief executive of the Victorian government’s Breakthrough Victoria fund, Grant Dooley, has resigned and backed an overhaul of the John Brumby-led board.
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.
Work & Careers
Watt moves to create CFMEU special powers
The deadline for the CFMEU to consent to the administrator has surpassed, triggering the government to move ahead with creating new laws.
TWU stands down Victorian boss over misconduct claims
The Victorian head of the Transport Workers Union and influential player in the state’s Labor Right faction has been stood down over claims of inappropriate behaviour.
Life & Luxury
- Opinion
- Performing arts
Oz rock legends unite - but expect to be surprised
Australian songwriters Bernard Fanning and Paul Dempsey have joined forces and released a collection of bombastic, synth-laden sideways pop tunes. The arrangements are scintillating and the interwoven vocals charm.
Art Gallery of NSW welcomes ‘exceptional’ Indigenous art bequest
Former New Zealand media baron Michael Horton has fulfilled the wish that he and his late wife Dame Rosie Horton committed themselves to before her death last year.
A Michelin star chef’s guide to the hottest dining in London right now
Chef and restaurateur Clare Smyth of London’s Core on the joys of dirty martinis, seasonal fare and Sunday pub roasts.
Would you like a matching gelato with that watch?
IWC, maker of the much-loved Portugieser, will serve up treats at Australia’s prestige watch event along with multiple new models.
Caviar and crocodiles. What’s not to like?
Seabourn’s maiden voyage between Broome and Darwin represents a step change in the way Indigenous people take part in the burgeoning business of Kimberley cruising.
