- Exclusive
- Building Bad
The union boss and the building executive
Multiplex executive Amy Pitchford is in a relationship with a CFMEU official being investigated by police, while also advising the Victorian government on industry issues.
Enter the battle zone as the Olympics starts ‘breaking’
Australian Rachael ‘Raygun’ Gunn didn’t get a medal in breaking - but the audience was the winner in a bizarre and high-octane spectacle. Here’s what you missed overnight.
Wall Street edges higher as July’s CPI report awaited
US shares posted modest gains in choppy trading. Larry Summers called for a regulator review of Monday’s VIX spike. Bitcoin hovers near $US60,000.
The PwC players, the blowback and why it could all happen again
Many current and former PwC partners still don’t believe the tax leaks scandals involved any serious wrongdoing, and regulators can’t be sure there will not be a repeat.
- Opinion
- Chanticleer
Why Dan Murphy’s boss was almost sacked on his first day
As he celebrates three decades working at Dan Murphy’s, the Endeavour Group chief executive is ready for more direct feedback from his critics.
- Updated
- Earnings season
Foxtel on the block as News Corp confronts reality
The publishing and broadcasting multinational says there is acquisition interest in its pay television arm after a year-long study of its assets.
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.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
PARIS 2024
Richardson wins silver in sprint at track cycling
Australia’s Matthew Richardson was unable to match Dutch legend Harrie Lavreyson, who successfully defended his Olympic gold medal from Tokyo.
Aussie diver takes superb silver to spoil China’s dominance
Maddison Keeney burst into tears of joy after nailing a crucial dive that won her a silver medal in the women’s 3m springboard.
- 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?
In Paris, they’re asking: is the Olympic balloon our new Eiffel Tower?
In a sometimes controversial opening ceremony, the floating cauldron captured everyone’s imagination. Now France is considering making it a permanent fixture.
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.
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smart investor
- Opinion
- US recession
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.
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.
- 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?
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.
My wife can’t work any more – how do we handle her insurance payout?
The tax rules on super policy payments are complicated when you’re younger – this is how they work.
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Companies
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.
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.
QBE punished as price rises peak
Heightened competition and tighter household budgets are constraining its ability to push up prices and widen profit margins.
- Analysis
- Media & marketing
News Corp finally confronts the grim reality of Foxtel
After nearly 30 years as a shareholder, the media giant has gone public with a bid to offload the pay TV business. Any new owner will confront big challenges.
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.
- Exclusive
- Private equity
Wingate Group on the sales block as investors circle private credit
The Melbourne-based investment manager is in discussions with a Singaporean suitor about a potential investment or takeover that could be sealed this month.
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.
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Markets
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.
- Opinion
- Chanticleer
Macquarie’s Viktor Shvets’ lesson from ‘mini heart attack’ on markets
Was the market rout – and rebound – a sign of how fragile markets are, or proof they are actually less risky? Viktor Shvets’ answer might surprise you.
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
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
What we don’t know about AUKUS
American government agencies keep revealing information about AUKUS that our own government will not.
Columnist
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
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
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.
- Analysis
- Interest rates
‘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.
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.
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.
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.
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World
Inside China’s vicious deflationary cycle
Despair at the faltering economy has rippled throughout China’s major cities and out into its regions.
Putin rushes reinforcements to Kursk as Ukraine seizes gas facility
Ukrainian forces reportedly took control of a key gas facility in Kursk after a stunning sweep through the region that took Moscow by surprise.
Brazilian airliner crashes, all 62 on board killed
Video shared on social media showed what appeared to be the ATR-made plane spinning out of control as it plunged to the ground.
- 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.
Paramount, Warner slash valuations in ‘cable TV collapse’
The $23 billion in impairment charges from Paramount and Warner Brothers Discovery highlight the collapse of the lucrative business model.
Property
- 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.
- 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.
New agents want $90m Crown penthouse sold ‘this side of Christmas’
Two new agents are set to take the reins of Crown’s discounted $90 million penthouse after four years on the market.
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.
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
- 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.
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
- 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
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.
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.
Work & Careers
Threat to customer safety cited in call to end sparkie work bans
Endeavour Energy has launched legal action to stop six months of industrial action, as other power workers join to form a triple threat to major projects in NSW.
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.
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.
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.
