The search is on for Australia’s fastest growing companies.
- Opinion
- Chanticleer
‘Rivers of gold are gone’: BoQ shows banking’s brutal new reality
Bank of Queensland boss Patrick Allaway says retail banking is in structural decline and big changes are needed. All bank investors should heed his warning.
Japan’s ‘urgent’ $1.6b coal deal driven by Qld royalty storm
The Japanese steel mill that bought 20 per cent of Whitehaven’s Blackwater coal mine says it was motivated by a fear higher royalties would curb supply.
- Live
- Need to Know
Clinton emphasises Harris’ joy and happiness
WATCH LIVE: Bill Clinton praises Joe Biden and Kamala Harris, Nancy Pelosi focuses on Capitol riots; Jim Chalmers in ‘ongoing’ negotiations over splitting RBA board. Follow live updates.
What I learnt at the Democratic convention
Don Farrell says the next federal election, like the US race, will be mainly fought over cost-of-living pressures and immigration.
- Live
- Markets Live
Miners boost shares; Megaport sinks 20pc, WiseTech surges to $120
Shares head for 10 straight days of gains. Whitehaven sells Blackwater stake for $1.6b. Medibank lifts dividends 13.8pc. Insignia pauses dividend. Qube lifts profits 32pc. Follow here.
- Exclusive
- Big four
NAB dumps Hayne-era bonus caps
NAB has emailed bankers on Thursday, informing them of the change, meaning they can earn bigger bonuses linked to writing new business.
PwC braces for a six-month ban in China
The expected punishment for work on the failed property developer Evergrande’s accounts would be Beijing’s toughest penalty handed down against a big four firm.
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EARNINGS SEASON
Stockland overshoots own housing predictions as settlements jump
Just four months after taming its own settlement guidance in April, the diversified developer has reported a stronger housing picture.
Qube’s Moorebank stake on the block
The logistics group said it could sell its stake in its new Moorebank interstate rail terminal after strikes at stevedore DP World help boost annual net profit.
Foreign student policyholders surge at Medibank
The insurer says foreign student policies surged, but fewer permanent Australian residents signed up for private health insurance than expected.
Super Retail posts record sales, adds special dividend
The name behind Rebel Sport and Supercheap Auto posted record sales of $3.9 billion, but earnings fell as higher costs dented profits.
WiseTech boss $2.1b richer after shares rocket on profit outlook
Tech entrepreneur Richard White has seen his wealth soar after WiseTech delivered one of the most formidable results of the season on Wednesday.
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
Companies
BoQ to sack 400 staff and buy out branches in $160m campaign
The plan, intended to simplify the business model, includes the conversion of 114 outlets from franchises to a bank-owned structure by March 2025.
- Exclusive
- Building Bad
Builders move to take on wounded CFMEU
Building companies are showing the first signs of trying to break the shackles of the union as it heads into administration.
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.
Companies in the News
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Markets
US Fed policymakers signal willingness to cut interest rates
While several officials saw a case for reducing rates last month, the “vast majority” reckon there’s a widening window for a September pivot.
US payrolls marked down, heaping pressure on Fed to cut rates
The number of workers will likely be revised down by 818,000 for the year to March, which would be the largest downwards update 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.
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
‘Gaza’ is the word Democrats dare not whisper in Chicago
Silence is the wisest option for Kamala Harris on a divisive election issue that is harming the global image of the US.
Columnist
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.
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
- Aged care
Aged care wait list exemption granted as parties close in on deal
The major parties have agreed in-principle to a new aged care funding model.
- 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.
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.
SPONSORED
World
Divers find five bodies in superyacht, but questions remain
Among the recovered were reportedly technology entrepreneur Mike Lynch and his daughter, as questions intensified over why the vessel sank so quickly.
What I learnt at the Democratic convention
Don Farrell says the next federal election, like the US race, will be mainly fought over cost-of-living pressures and immigration.
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.
- Opinion
- Israeli-Palestinian conflict
How something positive could emerge from the Israel-Hamas war
The argument that any concessions look like weakness will only lead to more conflict. There can be no half measures this time.
- 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.
Property
- Exclusive
- Commercial real estate
The faces behind Sydney’s new $10m members’ club
For $20,000 a year, members of Australia’s new tech and funding community club can take an ice bath, or breastfeed, in a space of their own.
The suburbs where every seller pocketed $1m profit
Residential profits surged to a record high in the past financial year, boosted by strong price gains, according to Domain.
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”.
Wealth
With $3.2m super, this couple wants a transition to retirement
Where one person is already retired and the other is still working full-time, what is the best way to manage retirement savings?
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.
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
How this CEO manages his job while raising triplets
In 2012 Business NSW chief Daniel Hunter and his wife, a small business owner, had triplets.To this day, Hunter is unlikely to have watched the latest show on Netflix.
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.
Life & Luxury
- Driving With Tony Davis
- Motoring
Father’s Day is looming, so here’s how to get his motor running
From dream cars to affordable adventure motorbikes, and a cool place for tools. This list screams: Gentlemen, start your engines.
The latest trend to improve your sleep
There’s a growing buzz about a rainbow of soothing sounds and their theoretical effects on concentration and the relaxation response.
The retro game that has this company boss hooked
Easy to understand but difficult to master, Rummikub is more than just a game for Sarah Harris Gould, co-founder of Harris Tapper.
So you think you know your Panerai?
Visitors to the About Time Watch Weekend in Sydney and Melbourne are in for a surprise.
Why we are surrounded by kidults
In rich countries there has been a dramatic fall in the share of people who, by the age of 30, have attained the traditional markers of adulthood: leaving home, becoming financially independent, getting married, having a child.
