The search is on for Australia’s fastest growing companies.
Push to ban Cbus from housing affordability scheme because of CFMEU links
Senator Andrew Bragg says the move is needed to protect taxpayer funds from the lawbreaking union until it is out of administration.
- Opinion
- Chanticleer
ASIC puts AirTrunk sale on private markets watchlist
ASIC will spend the next two years looking at private markets deals, including a deal-of-the-year in the making.
- Opinion
- Chanticleer
Inside Richard White’s big plans for WiseTech – and saving the world
WiseTech CEO and co-founder Richard White reckons the moat around his company is getting bigger for one key reason.
Divers find five bodies during search of superyacht wreckage
Among the bodies recovered were reportedly Mike Lynch and his daughter as questions intensified over why the vessel sank so quickly.
- Exclusive
- Mergers & acquisitions
M&A crackdown: corporates protest in Canberra
Executives from large companies who are worried about planned tougher laws to block corporate mergers have taken their concerns to Treasurer Jim Chalmers.
- Exclusive
- Start-ups
Uber scraps $105m Aussie car-sharing division
Uber will shut down its Carshare business, bringing the end to an Australian experiment it began in 2022 with the $105 million acquisition of Car Next Door.
Plan to cut 500 jobs from CSIRO ‘threatens research’
A CSIRO plan to cut $100 million in costs threatens industry collaboration and the government’s Made in Australia ambitions, industry leaders say.
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EARNINGS SEASON
WiseTech boss $1.7b richer after shares rocket on profit outlook
Tech entrepreneur Richard White is worth $14.1 billion after WiseTech delivered one of the most formidable results of the season on Wednesday.
- Results Wrap
- Chanticleer
How Scentre came through the Bondi Junction tragedy
Amid a deluge of results, it was a story about something much more than money that moved us here at Chanticleer.
Santos juggles growth against returns eyeing Narrabri
Any investment decisions on new growth projects will have to be weighed up against returning capital to shareholders, CEO Kevin Gallagher said.
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.
IAG blames construction costs for higher premiums
The cost of subcontractors in Victoria rose by 18pc in the past year, putting pressure on housing insurance premiums across the country.
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Companies
Sun Cable targeting green customers as approval secured
Several letters of intent have been signed with aspiring industrial-scale green energy buyers in Darwin, Sun Cable Australia MD Cameron Garnsworthy said.
Bread, milk, MAFS? Media giants want supermarkets to hire them
Nine Entertainment and oOh!media are pitching to work with IGA owner Metcash. Why? To capture some of an emerging market growing to $2.8b by 2027.
This stock is a barometer of Donald Trump’s election chances
A rollercoaster presidential campaign in the United States has taken shares in one copper explorer for a wild ride.
Iluka to halt rare earths refinery unless Labor caves in on funding
Iluka Resources says it won’t finish building a strategically important rare earths refinery unless the Albanese government comes up with more funding,
Regis in $192m writedown after Plibersek call sinks gold mine
Regis Resources slashes value of NSW mining project and withdraws ore reserve in fallout from Environment Minister Tanya Plibersek’s intervention.
Why Australian companies need to worry about a 36-year-old US law
Australian companies which have video available in the United States could be unknowingly exposed to privacy laws passed following a scandal about the publishing of a Supreme Court nominee’s mundane video store rental history.
St Vincent’s and NIB back from the brink with new deal
Hospital group St Vincent’s has secured a new funding deal with NIB which it says will avoid thousands of patients paying higher costs.
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Markets
US payrolls marked down, ratcheting pressure on Fed to cut rates
The number of workers on payrolls will likely be revised down by 818,000 for the 12 months through March — the largest downward revision since 2009.
Investors warn election pledges are delaying RBA rate cuts
There are fears that Queensland will launch a wave of fresh spending to woo voters ahead of its election which will add to the RBA’s inflation headache.
Why now’s not the time to jump back into BHP
Australia’s mining giants’ share prices have fallen more than 20 per cent this year, but Morningstar says they are still yet to reflect the risk from China.
ASX rises as miners, Charter Hall help
Shares gain; lower LNG prices hit Santos; new chiefs at Perpetual & Atlas; Superloop & PEXA narrow losses; gold bar breaks above $US1 million. Follow updates here.
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.
Opinion
Obamas light up the convention, and the campaign
Kamala Harris’ fight for the White House is working better than Democrats dared hope. Michelle and Barack Obama have added their star power – can the dream run last?
Columnist
Labor’s far from cleaning up CFMEU mess
Rather than waste time on the seemingly hopeless cause of rehabilitating the law-breaking union, Labor should really be focused on laws and institutions that are now called for to reinstate and uphold the rule of law across building sites.
Editorial
Manage migration in one office again
We will only get rational decisions on the issue when all the data and governance is put under one department and senior minister.
Migration expert
RBA must not mince its words for Chalmers
Treasurers have often tried to muzzle bankers and economists undermining the government’s economic narrative.
Economics editor
Our new quiet security embrace as Jakarta hedges bets
Indonesia’s strategic wariness of China has culminated in this week’s military co-operation agreement with Australia. But don’t read too much into it.
The new wave of climate claptrap
Misleading, misinformed or just plain baffling utterances continue to gush forth in the face of an increasingly evident problem.
Columnist
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
Premiers warn on NDIS reforms, risking new peace agreement
South Australia’s Peter Malinauskas and Tasmania’s Jeremy Rockliff have helped broker a major deal on disability governance, helping push through reform legislation in the Senate.
Melbourne Symphony blind to pianist’s anti-Israel views
As arts companies more closely scrutinise their talent for potentially divisive views, it appears the MSO was unaware of strident anti-Israel social media posts by Jayson Gillham.
Push to ban Cbus from housing affordability scheme because of CFMEU links
Senator Andrew Bragg says the move is needed to protect taxpayer funds from the lawbreaking union until it is out of administration.
Plan to cut 500 jobs from CSIRO ‘threatens research’
A CSIRO plan to cut $100 million in costs threatens industry collaboration and the government’s Made in Australia ambitions, industry leaders say.
ASIC budget set to fall despite warnings on resourcing
The corporate regulator’s annual budget appropriation will be $6 million lower in 2027-28 compared with last financial year, but when adjusted by inflation the cut is much bigger.
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World
Obamas ignite Harris campaign but warn of tight race
The former president told a roaring crowd the vice president would not be a self-centred leader like Trump, but instead focus on improving Americans’ lives.
- 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.
This stock is a barometer of Donald Trump’s election chances
A rollercoaster presidential campaign in the United States has taken shares in one copper explorer for a wild ride.
Ukraine launches ‘one of largest’ drone attacks on Moscow
The attack on the Russian capital was part of a broader Ukrainian drone strike across regions in Russia.
Investigation into ‘open hatches’ on doomed superyacht
One expert at the scene in Sicily told Reuters that an early focus would be on whether the yacht’s crew had failed to close access hatches into the vessel.
Property
Westfield owner Scentre’s mall buying spree not done
Scentre is banking that its strong first-half performance will attract more capital to allow it to buy malls at a time when more of them are for sale.
David Di Pilla’s dream for a $50b funds business
David Di Pilla says investments in energy, digital infrastructure, private credit and private equity will each grow into $10b businesses.
Property fund manager’s shares jump 15pc after results
Charter Hall has accumulated an $81 billion pool of mostly property assets. CEO David Harrison says the market has realised it’s been “unfairly marked down”.
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.
- Exclusive
- Luxury property
Macquarie boss’ $11m Palm Beach abode joins luxe weekender listings
Macquarie Group’s head of personal banking Ben Perham and filmmaker wife Kate Riedl have listed their Palm Beach weekender following a $19m Longueville buy.
Wealth
Millennial Zac dumps home ownership dream for ETFs
Zac Shparberg, 30, says he has no hope of owning a property in the city he grew up in. So, he’s embraced a different wealth creation plan that experts say could work.
How to calculate your net worth (and why you should)
Trying to build wealth without knowing your net wealth is like steering a ship without a compass. You might not get very far, and you could even go backwards.
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?
Technology
- Teaching Excellence
- Higher Education Awards
The secret to training the next generation of tech whizzes
From curing maths anxiety to using AI to teach a tricky programming language, these Teaching Excellence winners are producing Australia’s future tech workforce.
- Exclusive
- Start-ups
Uber scraps $105m Aussie car-sharing division
Uber will shut down its Carshare business, bringing the end to an Australian experiment it began in 2022 with the $105 million acquisition of Car Next Door.
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.
Work & Careers
Sacked fundie sues UniSuper and CIO for alleged bullying
The case comes as super funds put ASX companies on notice that they need to have decent work conditions or face strike votes.
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.
Life & Luxury
Photos go stratospheric with prices 100 times expectations
Photographs of space travel and heavy industry burst free of their lacklustre expectations in an extraordinary auction this week.
Melbourne Symphony blind to pianist’s anti-Israel views
As arts companies more closely scrutinise their talent for potentially divisive views, it appears the MSO was unaware of strident anti-Israel social media posts by Jayson Gillham.
- 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?
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”.
‘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.
