The search is on for Australia’s fastest growing companies.
For Kamala Harris, just being ‘presidential’ might be enough
The fight for voters is less about a revolution than the vice president presenting herself as a viable alternative to Trump and as a safe pair of hands for the country.
- Updated
- Interest rates
CBA cuts interest rates for new borrowers
The country’s largest lender lowered variable rates for new owner-occupiers by 0.25 of a percentage point, and up to 0.35 for some investment loans.
Hundreds ousted, perks gone as trigger pulled on CFMEU administration
The Albanese government put the entire construction division in the hands of an administrator on Friday, ousting union officials across the country.
Why Australian bonds are flashing red for more job losses
Traders are betting the Australian economy may have bigger hurdles ahead than the Reserve Bank of Australia has forecast.
- Live
- Markets Live
Shares slip; Elanor Investors suspended, GYG hits record high
Shares fall 0.2pc. APRA hits ANZ with $250m penalty. Accent Group, Inghams sink on earnings. Telix swings to profit. Latitude’s profit climbs 140pc. Wall St falls. Follow here.
- Opinion
- Chanticleer
Why fundies are starting to hate these 10 ASX darlings
It’s always a battle to beat the index and passive flows, but the market has crowded into a narrow group of winners that now look expensive.
- Opinion
- Chanticleer
APRA’s brutal hit to ANZ’s CEO and chairman’s credibility
Forget the money. APRA’s fresh capital imposition on ANZ appears designed to embarrass CEO Shayne Elliott and chairman Paul O’Sullivan.
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REVIEW
- Analysis
- Diversity
Is this the end of the line for diversity policies?
One of the most important management trends of the past decade may no longer be equal to the occasion.
How medical research is failing women
For years, the process for developing and testing new drugs has focused disproportionately on male bodies — to the detriment of female patients.
- 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.
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Companies
APRA slaps ANZ with tougher capital charge, board warning
The regulator has forced an extra $250 million capital charge on the bank as the bond trading and workplace culture scandals take a toll on the company.
Forrest scores win in US Facebook scam ads case
Mining billionaire Andrew Forrest will now get chance to examine internal Meta documents and its AI software in his bid to prove Facebook helps scammers create fake ads featuring him.
Blundy’s Accent Group misses lofty expectations
After a tough 2023-24 when sales rose just 2.4 per cent and earnings fell, the new year began slower than investors expected, pushing shares down 16 per cent.
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.
- 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.
Companies in the News
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Markets
Why Australian bonds are flashing red for more job losses
Traders are betting the Australian economy may have bigger hurdles ahead than the Reserve Bank of Australia has forecast.
US Fed officials argue for gradual interest rate cuts to start soon
Top policymakers in Boston and Philadelphia pushed back against market bets for an aggressive pivot, instead calling for a slow and steady approach.
What happened overnight? Wall Street pulled back as Powell awaited
Australian shares were set to open lower. Shares fell in New York as Fed speakers pushed back against the market’s aggressive rate cut expectations.
‘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.
Opinion
Democrats put Donald Trump on notice
Vice President Kamala Harris has been miraculously reborn as the candidate of change, of a new generation, of hope and light against the old, dark, divisive past.
Columnist
An enormous error has overstated the US boom
Markets have been caught off guard by a drastic revision of non-farm payrolls, the worst miss since the Lehman crisis, writes Ambrose Evans-Pritchard.
Global economy commentator
After the convention, Harris has to turn the vibe into votes
The more the vice president has to campaign on policy rather than personality, the harder it is to keep the Democrats’ fractious voter base together.
US political commentator
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
Lower inflation could pressure RBA to cut rates
Very low inflation readings in the coming months will change the interest rate debate.
Columnist
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
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
RBA’s separate rate-setting board to start next year: Chalmers
Jim Chalmers says shadow treasurer Angus Taylor should support the new interest rate decision panel after Labor made multiple concessions to the Coalition.
‘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.
- Exclusive
- Environmental protection
‘Circular economy’ to be examined by Productivity Commission
The government has asked its economic adviser to explore ways to cut waste going to landfill and encourage the more efficient use of raw materials.
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.
SPONSORED
World
Harris pledges ‘new way forward’ as she accepts Democratic nomination
Kamala Harris tells crowd how she grew up, before saying the US would not go back to a Donald Trump presidency; former Republican calls Trump a “weak man”. How the day unfolded.
Mike Lynch died just as he was planning his ‘second life’
The billionaire British tech tycoon loved to appear ruthless but was quick to help those in need.
Bodies recovered from superyacht wreckage include Morgan Stanley exec
Divers continue to search for the final missing person, thought to be the technology entrepreneur’s 18-year-old daughter, who may have been swept out to sea.
Putin tells Russians get over it, as anxiety grows over Ukraine
The Kremlin’s messaging suggests it expects Ukraine’s surprise occupation of Russian territory to last for months, so people should get used to it.
‘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.
Property
- Exclusive
- Luxury property
MaxCap boss relists landmark Prahran mansion with $1m discount
The non-bank lender’s co-founder Wayne Lasky and his wife Tam have listed their landmark Melbourne estate for the second time.
- Exclusive
- Luxury property
Woollahra’s landmark $19.5m mansion heads up spring trophy listings
One of the suburb’s prettiest homes, Roslyndale, is up for sale as a handful of hefty listings are set to test the spring market.
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.
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.
- 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.
Wealth
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 how to take advantage.
The tools showing retirees they have more to spend than they thought
Retirement income modelling is advancing rapidly, giving people an unprecedented ability to plan their own financial futures.
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.
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.
Right to disconnect is ‘silly’ and will cost businesses extra
The new workplace entitlement gives most employees the right to ignore contact from their bosses outside normal working hours, unless doing so is unreasonable.
Life & Luxury
Sharing a $6.40 birthday cake with star Sarah Brightman
The world-famous performer is not too grand to enjoy a treat from Woolies as she promotes her role in Sunset Boulevard.
When you go to work are you demure and mindful?
A viral video of advice on how to dress for the office has sparked a social media storm and turned its creator into a hot property.
- 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.
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.
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.
