The search is on for Australia’s fastest growing companies.
Chalmers offers deal on RBA board split
The treasurer offers to shift all RBA board members onto a new interest rate-setting board, presenting a potential breakthrough in stalled Coalition negotiations.
ASX to slip, Wall St pulls back as Powell awaited
Australian shares are set to open lower. Shares fell in New York as Fed speakers pushed back against the market’s aggressive rate cut expectations.
Card payment surcharge billions under RBA microscope
The RBA has brought forward an inquiry into card payment costs amid increased political scrutiny of the estimated $4 billion that Australians pay in fees each year.
Kim Williams’ ‘harder, faster, bolder’ ABC plan claims first casualty
Kim Williams has been outspoken about the ABC’s shortcomings and has a history of radical change. Now, MD David Anderson is giving up his $1.2 million role.
Body of Mike Lynch recovered from yacht wreckage, officials say
Divers continue to search for the final missing body. While she has not been identified, Lynch’s 18-year-old daughter is reportedly unaccounted for.
‘Significantly different’ psychiatric report on Higgins emerges
The psychiatric report that helped secure Brittany Higgins a $2.4 million settlement was one of two dated on the same day, but which did not match, a Perth court has heard.
Allan Myers’ missile letter at ‘racist’ Melbourne Club
The wealthy barrister excoriated the elite gentleman’s club nominations committee over the rejection of a member, calling out the “stench of racism”.
Get our columnists’ expert take on earnings season, direct to your inbox daily. Plus receive the weekly newsletter where they unpack the biggest stories. Exclusive to subscribers.
EARNINGS SEASON
- Opinion
- Chanticleer
‘Rivers of gold are gone’: BoQ and 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.
- Updated
- Banking products
Business model unsustainable, says BoQ, as it sacks 400 staff
The regional lender will take control of a long-standing franchise network in a $160 million bet on its survival.
Japan’s ‘urgent’ $1.6b coal deal driven by 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.
Super Retail boss ‘cautiously optimistic’ on 2024-25 rebound
The name behind Rebel Sport and Supercheap Auto posted record sales of $3.9 billion and kept investors happy with a special 50¢ dividend.
Private health cover could become unaffordable, Medibank warns
The insurer says foreign student policyholders have surged, but fewer permanent Australian residents signed up for private health insurance than expected.
REVIEW
The 47 seconds that saved Kamala Harris’ political career
A long-forgotten moment at a debate nearly 14 years ago stands out as one of the least known yet most consequential pivots in her journey.
- 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.
- Opinion
- South-East Asian economy
Thailand’s democracy is on shaky ground
Since 1932, Thailand has been through 12 successful coups (as well as many more attempted ones), and multiple constitutions.
Mark Zuckerberg’s wife statue joins bad art of the rich and famous
The sculpture is utterly arbitrary and that’s what makes it bad. It’s also what makes the vast majority of AI-generated art so bad.
The restaurant washrooms turning into selfie stations
Forget the food and the flatware – bathrooms have become the big thing in many restaurants today.
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
Companies
- Exclusive
- Big four
NAB dumps Hayne-era bonus caps
The bank emailed staff on Thursday, informing them of the change, meaning its bankers can earn bigger bonuses linked to writing new business.
Snowy Hydro adds fourth tunnel borer in bid to keep project on track
Snowy’s decision to spend $75 million on an extra tunnel boring machine signals it is prioritising start-up timing over cost pressures at the project.
WA gold miner lashes Labor’s project vetoes
Northern Star boss Stuart Tonkin says investment is at risk without a stable policy and approvals landscape.
Fried chicken margins shredded as costs bite Collins Foods
Shares tumble at the KFC and Taco Bell operator as it reels under the strain of rising staff, energy and store costs.
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 helped boost annual net profit.
Insignia shares sink after ‘disappointing’ dividend pause
Delivering his first full-year results as CEO, Scott Hartley said the dividend freeze was needed to strengthen the balance sheet amid remediation costs.
Element Zero co-founder recalls smooth flight with Fortescue top brass
Michael Masterman says Fortescue’s top brass had no concerns about his company’s green iron technology when they spent hours together on a private plane.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
Fed officials argue for gradual pace of cuts starting soon
The top Fed policymakers in Boston and Philadelphia pushed back against market bets for an aggressive pivot to rate cuts.
‘Would be a disaster’: nervous short-sellers brace for iron ore at $US100
The Asian hedge funds targeting Australia’s largest mining stocks are looking on anxiously after the steelmaking ingredient staged a rapid rebound this week.
Pengana tips this tiddler to grow into a ‘multibillion-dollar’ stock
Portfolio manager Jeremy Bendeich explains why he’s betting big on titanium, and explains the potential behind Brazilian Rare Earths.
Regal, hedge funds are sticking with Japan after the crash
Regal’s investment chief Phil King is among those shrugging off the Nikkei’s worst sell-off in almost four decades and is betting on a big rebound.
Nvidia inches closer to record as AI bonanza continues
Investors are keenly waiting for the artificial intelligence poster child to report earnings next week, which could vault the stock back into record territory.
Opinion
Plibersek’s mine block alarms whole industry
Regis Resources is cancelling its proposed gold project in NSW after the federal environment minister vetoed its site for a tailings dam.
Columnist
ASIC scrutiny of private markets must get balance right
Extending disclosure requirements into private deals could be viewed as unjustified regulatory creep. But the corporate watchdog is right to be vigilant on this issue.
Editorial
This week showed politics can still work in the national interest
The NDIS breakthrough, the CFMEU deal, and in-principle agreement on aged care reform shows it’s not all about the antics of crossbench issue poseurs or the confected conflict of question time.
Political editor
The race to define Kamala Harris is not yet won
Friday’s speech is a high-stakes opportunity for the Democratic nominee to introduce herself to voters yet to make up their minds.
Research associate
Albanese should trust Australians by answering Gaza visa questions
Does the prime minister agree with the ASIO that ‘rhetorical’ support for Hamas shouldn’t automatically disqualify anyone from coming to Australia?
Columnist
‘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
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
Aged care deal delayed amid backbench anxiety
Peter Dutton wants the approval of his MPs before confirming support for the aged care deal negotiated with the government.
- Exclusive
- Industrial relations
Union membership inflated, pay deals not done under Asmar: official
A senior official at the Health Workers Union has pushed to stand down its secretary, Diana Asmar, warning the union’s board that the branch is in a state of dysfunction.
NDIS eligibility fight looms for Labor
Bill Shorten heralded the passage of major reform legislation for the $49 billion scheme, but Labor faces tough negotiations on autism care and enrolment rates.
Taxpayers to fund $850m for long-range missile factory in NSW
Missiles with a range of up to 500 kilometres will be manufactured in Newcastle, under government plans for guided weapons production in Australia.
Veteran Qld MP to retire after being told ‘now’s the time’
Graham Perrett, one of the few Labor MPs in Queensland, will retire at the next election.
SPONSORED
World
‘They’re not Hamas’: Envoy’s plea over Gazans sheltering in Australia
As national security fight continues to roil parliament, a significant number of Gazans who have found safety in Australia are Christian, while 80 per cent possess tertiary qualifications.
Cooling US jobs market looms over central bankers at Jackson Hole
The Fed has brought down inflation but must now steer the economy away from recession. This delicate balancing act is on show in Pennsylvania’s Lehigh Valley.
Ford dumps EV plans as China competition grows
The US carmaker’s EV division is losing money, as consumer demand flags, while supply chain challenges and competition from Chinese carmakers increase.
‘Underdog’ Walz vows to fight for ordinary Americans
The Minnesota governor stepped up his attacks on Donald Trump as he introduced himself to Americans as the regular guy who would protect their freedoms.
What would a Harris White House mean for the world?
This week on The Fin podcast, US correspondent Matthew Cranston and international editor James Curran ask if Kamala Harris and Tim Walz can sustain momentum.
Property
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.
Iconic Sydney pubs on the edge amid $61m sale stoush
A fight between a high-flying pub investor and an investment bank has put two of the city’s most iconic pubs under a cloud.
- Opinion
- Chanticleer
Why this global PE giant is backing a $1b bet on Aussie housing
The $120 billion private equity giant, Warburg Pincus, will back MA Financial’s new investment vehicle, which aims to help plug the housing sector’s funding gap.
- Exclusive
- Retail property
Dexus to offload Townsville mall for more than $200m
The looming sale of the Willows Shopping Centre comes amid a noticeable pick-up in deal activity, including from ASX-listed Scentre and Vicinity.
‘The phone is ringing off the hook’: investors head to property
Deposit rate cuts and signs the rate cycle has peaked are prompting investors to look beyond cash to high-yielding opportunities, says Centuria CEO.
Wealth
The Australians who may soon pay more for aged care
Labor and the Coalition are drawing closer to an agreement on changes to aged care funding. This is what it would mean.
How to work less, help the kids and do the job you always wanted
A transition to retirement pension offers opportunities to revamp your lifestyle, pay down debt or gift a home deposit. Here’s what to do.
This trader spotted a ‘really big gap’ – and made a fortune
Stake’s Matt Leibowitz loved his job as a derivatives trader, but when his friends started asking how to invest in US stocks, he saw an opportunity.
Technology
Uber targets car rentals after Carshare failure
Uber has blamed a blow-out in operational costs for the failure of its Carshare service, which will cease business from September 12.
- 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.
Work & Careers
Meet the man fighting for our miners
Minerals Council CEO Stephen Galilee is in a unique position of running a major lobby group as a long-time former Liberal Party staffer in a Labor state.
Ex-KPMG legal team makes strong start at Mills Oakley
A team of corporate lawyers from KPMG has moved to law firm Mills Oakley, taking most of their clients with them.
Life & Luxury
- Drinks With Max Allen
- Wine & spirits
Four remarkable whiskies, all matured differently
If the cask matters to you, compare the difference in these intriguing spirits, from Australia, France and Scotland.
How to make this saucy dish from Neil Perry’s new Song Bird restaurant
Perry is set to open his next restaurant in Sydney’s Double Bay on August 30. And it’s going to be huge.
All this parenting advice is getting in the way of parenting
The plethora of tips and guidance, especially online, is leading parents to believe there is one right thing to say for every situation.
This off-grid Himalayan walk will re-boot you from $1225 a day
Crawling not running towards the end of the year? Book this six-day trek in remote north-eastern India for a reality check, and a nature-fuelled recharge.
- 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.
From the gallery
The Australian Financial Review Magazine
How to make this saucy dish from Neil Perry’s new Song Bird restaurant
- 1 hr ago
- Jill Dupleix
