The search is on for Australia’s fastest growing companies.
This is how Trump can regain the lead
Seasoned political observers warn it’s too early to assume the Democrats will maintain the momentum gained since Kamala Harris became the presumed nominee.
‘The jig is up’: China slowdown leaves Australia exposed
RBA governor Michele Bullock says a further deterioration in China’s economy could drive iron ore prices lower and cause Australia’s economic growth to slow.
- Opinion
- Chanticleer
It’s not just iron ore. China is a ‘prisoner’ of a broken economy
The falling iron ore price speaks to the long-term problems in the Chinese economy, all of which are now colliding.
- Opinion
- Interest rates
Arrogant RBA boss should stop trying to muffle opponents
The haughty deputy governor of the Reserve Bank should focus on ensuring the central bank does not once again become a false prophet, writes Christopher Joye.
GQG’s pivot away from tech stocks pays dividends
The firm attracted $16.8 billion of inflows in the first half, lifting funds under management to record levels as its funds extended their outperformance.
- Opinion
- Chanticleer
Investors just got a $15b dividend deluge. But beware three trends
The first serious week of profit season has seen a deluge of dividends and few signs of the economy rolling over. But investors should not be complacent.
Whitehaven cuts 192 jobs at former BHP coal mines
The coal producer found “unnecessary” layers of complexity and duplication at the Daunia and Blackwater sites since acquiring them for $6.4 billion in April.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
REVIEW
Challenger disaster was the ultimate failure of corporate culture
An inside account of the doomed space shuttle shows why it remains relevant to understanding poor decision-making 40 years later.
The global rich are moving in search of lower taxes
A record 128,000 millionaires are expected to relocate this year, the consequence of a global realignment of how the wealthy are taxed.
An ex-Murdoch man turns on the populist press
Crikey publisher Eric Beecher laments the plight of modern media in an argumentative new book, The Men Who Killed the News.
Secrecy was the key to Ukraine’s daring Russia invasion
The attack on Kursk surprised even Ukraine’s closest allies, and pushed the limits of how Western military equipment is allowed to be used on Russian soil.
America’s Middle East defence rests on aircraft carriers
The deployment of two US aircraft carriers to the Middle East shows that the ships are the key to deploying US power around the world.
EARNINGS SEASON
Interest rates weigh on NAB customers as arrears jump
“The economic environment, including persistent inflationary pressures, is challenging for our customers,” chief executive Andrew Irvine said.
Flat convenience spend, rising costs hit Charter Hall retail REIT
Charter Hall Retail REIT starts 2024-25 on a downbeat note after issuing soft earnings guidance, but its distribution will stay intact.
ASX profits drift as regulatory expenses bite
The market operator’s CEO, Helen Lofthouse, accepted the “serious” nature of ASIC’s case but said the exchange was trying to look forward.
Barrenjoey, in the black and paying dividends, finally hits its stride
The firm had been plagued by years of high start-up costs. Big deals for Guzman y Gomez and Suncorp, and a broader business, have turned its fortunes around.
- Updated
- Earnings season
Telstra goes big on infrastructure as it bets on AI
The country’s largest telco says Australia has an opportunity to “really reinvigorate” how people connect, as it reports a 13 per cent slide in profit.
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Companies
Domino’s Pizza boss names sister as local CEO
Kerri Hayman was appointed chief executive of Australia and New Zealand for the brand, while her brother, Don Meij, focuses on fixing the overseas operations.
A2 Milk strikes peace deal with Synlait, sending shares sharply higher
The agreement will allow the company to manufacture its infant formula for the first time, with investors hoping for wider margins and better returns.
A red alert and 100 defects: Inside ASIC’s case against the ASX
It was the upgrade to the settlement and clearing system that would have made the Australian stock exchange a global leader. It did not turn out that way.
Labor backs away from Rex bailout, guarantees regional flights
Transport Minister Catherine King says Regional Express customers will not lose money, offering a guarantee that will help the airline keep ticket sales revenue coming in the door.
Pilbara Minerals takes $560m punt on Brazil lithium project
The company, the most heavily shorted stock on the ASX, made a $560 million takeover bid for Latin Resources and its flagship mine.
NSW’s top judge takes aim at Victoria on class actions
NSW Chief Justice Andrew Bell says the introduction of contingency fees in Victoria has “skewed” the market for class actions.
Rio Tinto and Queensland strike huge aluminium rescue pact
Taxpayers may spend hundreds of millions of dollars keeping the Boyne aluminium smelter open until 2040 under a deal struck by Rio and the Queensland government.
Companies in the News
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Markets
- Live
- Markets Live
Miners boost shares; NAB gains, ASX Ltd falls on profit report
Shares add 1.3pc head for six straight sessions of gains. RBA hoses down rate cut hopes. NAB posts flat profit, warns on bad debts. ASX flags record revenue. Follow here.
US retail sales beat forecasts as consumers shake off price rises
The report showcases a consumer that’s holding up despite higher borrowing costs, a cooling labour market and an uncertain economic outlook.
What happened overnight? US retail data ignited a global rally
The Wall Street benchmarks closed just 2.2 per cent short of a record after reports showing unexpected resilience in the US economy.
Iron ore crash threatens Chalmers’ budget surplus hopes
The unfolding crisis in China’s steel market has intensified the plunge in Australia’s key export, with analysts warning that prices probably have further to fall.
Rate cuts still on the cards despite stellar jobs growth
While the bond market is pricing in a 50:50 chance of an Australian interest rate cut in November, it’s still all-in on December as the global easing campaign intensifies
Opinion
Professors and populists all get inflation wrong
Despite what a Nobel prizewinner and Jacqui Lambie might think, growth is the only serious answer to inflation.
Editor-at-large
Why Telstra’s latest strategy shift might pay off
Why Vicki Brady wants to keep Telstra’s infrastructure assets close and growing even if mobiles remain today’s success story.
Columnist
Super wars are over, but the governance fight is yet to be won
The Australian Financial Review is on the side of members, and we believe their interests could be served by a more transparent and independent superannuation system.
Editorial
Whatever happens next, Iran is in poor shape to fight anyone
Iran is under acute social, political and economic stress. Its rulers will be under pressure if they retaliate against Israel, or if they don’t.
Corporate advisor
Five reasons the power grid needs a major redesign
The big new renewables grid requires switching from a demand-driven system to one determined by supply. Easy to say, hard to do.
Energy expert
AUKUS partners are unlocking a future made in Australia
The UK and the US have finalised the establishment of an export licence-free environment, unlocking billions of dollars of investment and cutting red tape for Australian industry.
Defence Minister
Reports
Wealth - Sustainable investing
This special report looks at the growing movement to support natural capital and options for investors to balance returns with greening their portfolios.
Politics
‘Commonsense’ approach used to deport Kiwi criminals
The leaders of Australia and New Zealand have discussed closer defence co-operation, cybersecurity and the creation of an NRL team for Papua New Guinea.
Inquiry leaves door ajar for WA gas exports
Onshore gas producers should be allowed to export to international buyers if the Western Australian industry can address a major looming domestic shortfall.
‘She can do what she wants’: Tink stink turns teals blue
The dispute between teal MPs on Sydney’s north shore shows they are truly independent, says Zali Stegall.
TV ad ban but not jerseys and field signs is ‘illogical’: bookies
Sportsbet, Entain and Pointsbet say they won’t put their logos on sports jerseys or around the stadium during live sport.
Productivity Commission set to lead power market reforms
Paying generators not only for the power they produce but also their ability to plug supply gaps will be critical to ensure grid reliability as coal plants shut down.
SPONSORED
World
Trump refuses to tone down personal attacks on Harris
The former US president said he is “entitled” to assail his Democratic rival despite Republican and donor advice that he stick to economic messages.
‘Large number’ of Russian troops surrender to Ukraine in incursion
Kyiv said it has begun talks with Moscow over a potential exchange of prisoners as it presses on with its startling advance into the Kursk region of Russia.
- Opinion
- US election
Tim Walz isn’t very rich, and this should worry US voters
The Democratic vice presidential candidate has no asset ownership, bolstering his regular-guy image. But is this what America wants from its leaders?
Bibles, crypto, clubs: Trump’s new revenue streams
Donald Trump’s latest financial disclosure lists more than $1.5 million in crypto holdings as he courts the industry.
China squeezes Western militaries with export ban on weapons metal
The Commerce Ministry announced it will restrict exports of a mineral used in a wide range of products from batteries to weapons in the latest trade war salvo.
Property
- Updated
- Earnings season
Goodman sets out its transformation from warehouses to data centres
Chief executive Greg Goodman says demand for data processing and storage is “next level” as he maps out the next five years for the landlord.
This property trust just wiped 8pc off its office tower values
The office manager still maintained an upbeat outlook, pointing to the NSW government and more corporates enforcing return-to-office requirements.
Why home builder Metricon opened up its books
The historically guarded company – Australia’s largest home builder – says it wants to boost confidence in the sector. But it’s also searching for a partner.
How the ‘buzz’ in Brisbane is bucking a national trend
As office vacancy rates creep higher in capital cities such as Melbourne, investors are flocking to Brisbane where the market is thriving.
Construction output is falling – and tradies aren’t to blame
Weaker productivity in construction threatens higher costs for consumers at a time when many projects – especially in housing – are already not viable.
Wealth
- Exclusive
- Investing
What investors can learn from 30 years of markets data
Analysis by Vanguard Australia for AFR Weekend reveals how different asset classes have performed and a surprise top performer in the last financial year.
The ATO has this overlooked property tax in its crosshairs
Small-scale property developers need to be aware that GST is applicable in certain circumstances. Read the 10 tips for mum and dad developers.
Should I pay my children to stay off social media?
The right age for children to start using social media is a topic of hot debate.
Technology
Apple finally opens up tap-and-go, but banks remain very wary
In a decision seemingly forced by a European antitrust deal, the US tech giant said access to the payment functionality would be granted to outside developers.
Cisco slashes jobs, looks towards AI and cybersecurity
Cisco, the biggest maker of computer networking equipment, gave a bullish revenue forecast, but also announced plans to slash jobs as part of a strategy shift.
- Analysis
- The Breakdown
Cool or dystopian? Google launches AI-powered phones
The tech giant has launched a new range of AI-packed phones, earbuds and watches. Here’s what they will do (if you really want them to).
Work & Careers
With $70 this duo grew Australia’s biggest media brand for young women
Six years on, 30-year-olds Zara McDonald and Michelle Andrews have built a burgeoning company without any external investment.
The one question NRMA boss Julie Batch uses to progress her career
She comes from a long line of insurance executives. Earlier in her career she worked in Monaco in the reinsurance industry.
Life & Luxury
Caviar in business class? Why bother with first
The luxury is typically only afforded to first class travellers, but Qatar Airways says it will offer it to customers on the 14-hour flight to and from Doha.
For $5600, you’d want to keep the bottle this rare cognac comes in
Beyond French liqueur, this week we’ve sourced seductive fashion, chic homewares and smoky scents.
This Aussie quit his career to open a luxury resort in Greece
It’s no coincidence that it took Australians to tackle the challenge of opening Gundari in such a secluded island location.
A man’s guide to surviving menopause
Forewarned is forearmed. Here’s what to expect when your partner starts to experience symptoms and how to deal with it.
This fashionista wants wailing and pasta at her funeral – but no black
New York-based media veteran Laura Brown doesn’t spend much time thinking about the great unknown; it’s going to come anyway.
