The search is on for Australia’s fastest growing companies.
New Perpetual CEO hired to take ‘legacy into the next phase’
The company has hired the former head of a $300 billion super fund giant, Bernard Reilly, to manage the break-up of the 138-year-old firm.
- Exclusive
- US election
Scaramucci warns Trump must be ‘torn into pieces’ to end MAGA-mania
Donald Trump’s one-time chief spinner believes Kamala Harris will win the election, but the former president could run again in 2028.
- Live
- Markets Live
ASX falls but WiseTech, Brambles soar
Shares slip; lower LNG prices hit Santos; new chiefs at Perpetual & Atlas; Data#3 profit soars; Superloop & PEXA narrow losses; Healius deeper in red. Follow updates here.
Prominent lawyer’s haunting post before superyacht tragedy
The Clifford Chance legal partner was aboard tech tycoon Mike Lynch’s boat to celebrate their marathon courtroom victory when it sank off the coast of Sicily.
- Live
- Need to Know
Trump’s former press secretary backs Harris
WATCH LIVE: Stephanie Grisham says Donald Trump “has no fidelity to the truth”; Mike Cannon-Brookes’ Sun Cable given go-ahead; Jetstar faces legal action for COVID-19 refund failure. Follow live updates.
Domino’s Pizza CEO scrambles to avoid ‘painful’ result
Shares in the pizza maker slumped again as it said same-store sales dropped 1.3 per cent in the first seven weeks of the new financial year.
Video of Foxtel boss Patrick Delany’s Nazi salute emerges
The footage shows the chief executive imitating a pose infamously struck by former soccer goalkeeper Mark Bosnich in 1996.
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EARNINGS SEASON
Santos’ profit slides as LNG prices soften
Core net profit slid 18 per cent, but the energy giant declared a record interim dividend of US13¢ a share, which is up 49 per cent.
Healius net losses double as it restructures, sells imaging unit
Pathology group Healius says the sale of its imaging business is “well advanced” as it posted a net loss in line with expectations.
Superloop forecasts earnings bump after contract wins
Superloop’s annual loss shrunk as it secured a bigger share of Australia’s broadband internet market.
- Results Wrap
- Chanticleer
Dexus’ big move and the other result that caught our eye
The property giant gives itself more wriggle room, Reliance Worldwide gets investor hearts racing, and Vicinity Centres goes further upmarket.
- Opinion
- Chanticleer
Yancoal’s 20pc crash is about more than a missing dividend
Queensland and NSW’s big coal miners have their eyes up, knowing consolidation makes sense and could create value for investors.
HIGHER EDUCATION AWARDS
In face of disruption, unis offer scalable, powerful solutions
Universities are being disrupted, but their contribution to society is profound, as the winners of the Higher Education Awards show.
- Lifetime Achievement
- Higher Education Awards
Just like our athletes, Australia’s unis overachieve
Professor Margaret Gardner, the only vice chancellor to become a state governor, has been awarded this year’s Lifetime Achievement Award.
- Industry Engagement
- Higher Education Awards
La Trobe’s pioneering model to transform healthcare
The winner of the industry engagement award used COVID and a pinch of serendipity to create a world-leading virtual medical emergency model in Melbourne.
- Community Engagement
- Higher Education Awards
A 50pc improvement: Unis turn the tide on disadvantage
The winner of the community engagement category is reversing the fortunes of disadvantaged children in a partnership that has lifted HSC results.
- Commercialisation
- Higher Education Awards
This special paint could save lives from bushfires
New paint technology developed at UNSW to help fire-proof homes is a joint winner in the Higher Education Awards research commercialisation category.
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Companies
- Exclusive
- Construction
The ASX’s next big float is a South African construction giant
Aveng will spin out its Australia and New Zealand business McConnell Dowell and examine listing on the ASX next year.
Evie Networks puts foot down on EV chargers
The company isn’t letting concerns about grid capacity constraints or a slowdown in EV sales derail plans to have almost 1100 chargers at 372 sites next year.
- Exclusive
- Activist shareholders
APA Group faces activist action over Beetaloo pipeline
A shareholder resolution lodged by Market Forces driven by climate concerns comes as APA’s board is facing the risk of a “second strike” at its October AGM.
Billions in private capital increasingly exposed to soured loans: Pimco guru
Christian Stracke, the firm’s global head of credit research, said investors are leaning towards new forms of private capital, particularly asset-backed deals.
Global Lithium fights shareholder move to axe directors
Global Lithium is resisting a push led by businessman Liaoliang Zhu to remove two board members, including former Rio and Fortescue executive Greg Lilleyman.
Fortescue counsel backs 22-day spying mission on Element Zero
Private investigator reports were detailed but justified in seeking search and seizure orders, said Fortescue’s lawyer.
New Zealand regulator lambasts banks for ‘sporadic’ competition
The NZ Commerce Commission called for open banking to be “fully operational” within two years and for the government to invest more capital into its Kiwibank.
Companies in the News
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Markets
Aussie dollar’s rebound brushes off China woes
The $A has staged a powerful recovery from the market rout to climb above US67¢ despite the collapse in iron ore prices. Strategists expect the rally to keep going.
Why Chris Kourtis just sold BHP and bought Fortescue
Investors and analysts are starting to warm to the longtime ASX pariah, despite the slumping iron ore price.
What happened overnight? Wall Street’s rally ran out of steam
Australian shares were set to open down. The S&P 500 was modestly lower after an eight-day advance. Gold set a record. Copper steadied.
- Opinion
- Investing
Markets should be afraid of whoever wins the US election
Donald Trump wants a say in monetary policy, and Kamala Harris is flirting with economic populism. Markets are right to be jumpy ahead of November’s election.
Investors are buying up gold stocks before the first US rate cut
The precious metal is the standout commodity this year, jumping 21 per cent to fresh records on expectations that the US dollar will weaken. It has also lit a fire under ASX-listed producers.
Opinion
Vice chancellors feel the political heat
Universities say they are in crisis after Labor’s cap on overseas students, but the education minister says his priority is getting more equity students into the system.
Columnist
University scapegoats still need to get houses in order
The Higher Education Summit heard a system based on decades of massive expansion, loan-funded students and big injections of foreign students is at a watershed.
Editorial
For inflation to fall fast, Labor must boost productivity, not hobble it
The Albanese government may not have caused the problem, but its policies help determine why the interest rate pain will last longer here.
Economist
Tax agent code shouldn’t invade right to mental health privacy
These new obligations will disincentivise seeking mental health treatment and cause fear that a diagnosis could trigger disclosure rules and hurt business.
CEO, Chartered Accountants Australia and New Zealand
The campaign controlling the memes shapes the reality of the election
While Donald Trump remains the king of mass media co-option, Kamala Harris is fast mastering memetic warfare, writes Whitney Meldrum-Hanna.
Strategic advisor
Markets should be afraid of whoever wins the US election
Donald Trump wants a say in monetary policy, and Kamala Harris is flirting with economic populism. Markets are right to be jumpy ahead of November’s election, writes Chris Giles.
Contributor
Reports
Higher Education Awards
The Higher Education Awards highlight the tremendous contribution that the Higher Education sector makes to Australian capability, prosperity and society.
Politics
- Exclusive
- Building Bad
CFMEU mulls High Court challenge, employers also face scrutiny
CFMEU national secretary Zach Smith is not ruling out a High Court challenge to legislation forcing the union’s construction divisions into administration.
- Exclusive
- Aged care
Government lowers contribution caps to secure aged care deal
The Albanese government is set to lower its proposed lifetime caps in an effort seal a deal with the Coalition to secure more sustainable funding for the aged care sector.
Why Melbourne’s third runway is now Labor’s time bomb
The airport CEO warns inaction will hurt consumers, as the political weaponisation of aircraft noise threatens to once again become an election theme.
Growth resurgence to keep interest rates higher for longer: RBA
The RBA said it considered lifting the cash rate to 4.6 per cent this month amid concerns of a forecast lift in economic growth and persistently high inflation.
Albanese seals new defence pact with Indonesia’s Prabowo
Australia will lock in deeper military ties with Indonesia amid rising regional tensions with China.
SPONSORED
World
Blinken warns time running out as bodies of six hostages recovered
The US secretary of state left the Middle East without a ceasefire deal, as Israeli authorities discovered the bodies in an overnight operation.
Search resumes for UK tech mogul missing in yacht sinking
Deep-sea divers with Italy’s firefighter corps resumed their search for six passengers including Mike Lynch, missing after a superyacht sank off Sicily’s coast.
‘I gave my best’: Biden defends legacy as he passes torch to Harris
One month after an unprecedented mid-campaign switch, the opening night of the convention in Chicago was designed to give a graceful exit to the US president.
Onus on Hamas as Israel backs plan to break ceasefire impasse
US Secretary of State Antony Blinken called the proposed accord “a bridging agreement” and acknowledged that not everything was spelt out in detail.
- Analysis
- Tragedy
Did Bayesian’s 72m mast cause it to sink?
The superyacht was one of the 50 largest sailing yachts in the world, and her mammoth mast supported a total sail area of almost 3000 square metres.
Property
The two Perth mall deals that have revived the retail market
The Claremont Quarter sale brings the dollar amount of Perth malls transacted this week to $627 million.
Dexus posts $1.5b loss as office values tumble
The fund manager and investor expects a drop in earnings in the 2025 financial year amid a challenging commercial property sector.
Chadstone owner Vicinity beats guidance as occupancy rates rise
The mall landlord reported operating earnings of 14.6¢ per security after saying in February that it would hit the top end of its guidance of 14.5¢.
Ingenia reveals five-year plan for settlements growth
The developer of affordable accommodation for downsizing Baby Boomers wants to focus its own capital on the core land lease business.
Signature scents and saltwater spas: The ‘hotelification’ of offices
Business districts in the US are doing whatever they can to get workers back – including resort-like office spaces that beat the comfort of their homes.
Wealth
Can I get a mortgage without a credit score?
Credit scores are a shortcut used by credit providers to assess your history in repaying debt. But what happens if you don’t have one?
- Opinion
- Property prices
What property investors need to know about the mean, median and mode
Property investors need to know the three main statistical metrics and how they each offer a unique perspective on market values.
Stability is great for portfolios – if you know where to look
Poll outcomes across the developing world appear to support growth as the US election looms.
Technology
How to use AI in unis – and spot ‘very bland’ cheats
Banning AI was an understandable knee-jerk response, says ANU vice chancellor and tech expert Genevieve Bell. But it won’t work.
Why an Aussie firm spent $1.5m on a ‘Drive to Survive’-like rally doco
In a branding strategy inspired by the success of influencers such as MrBeast, SafetyCulture founder Luke Anear is using YouTube to increase audience reach.
- Exclusive
- Start-ups
Investors back ‘unicorn’ Go1 CEO swap, as IPO plans emerge
The founding CEO of $3b Queensland tech firm Go1 will step down in a move backed by its early investors, with his co-founder taking sole charge of the run to an IPO.
Work & Careers
A CEO’s tips to light up your day: Tony Robbins and the Macarena dance
Claire Barnes is the chief executive of New Zealand-based Ecoya. She starts her morning with music, avocado toast and Tony Robbins’ priming exercises.
‘Crazy’: doubling uni graduate rates in current economy a big ask
Labor’s plan to dramatically raise the number of Australians with tertiary qualifications is “exceedingly ambitious”, says one of the UK’s leading educators.
Life & Luxury
Older adults do not benefit from light drinking, research shows
A large study has found no reduction in heart disease deaths even among moderate drinkers, and alcohol probably raises cancer’s risk “from the first drop”.
Melbourne Symphony crisis deepens
The MSO is scrambling to review itself after its musicians called for the sacking of the managing director and chief operating officer following a guest pianist’s cancellation for onstage Gaza comments.
‘In a class of its own’: a radical new racing yacht sets sail
Two driving forces of Australian sailing have come up with an ingenious new type of craft, with a specially designed keel.
- Opinion
- Style
No press, please: Why some big names in fashion don’t talk
When you buy high fashion, you’re buying into the designer behind it. So how come some say so little?
This off-grid Himalayan walk will re-boot you from $1225 a day
Crawling not running towards the end of the year? Book this 6-day trek in remote northeastern India for a reality check, and a nature-fuelled recharge.
