Today
Power rebates hide inflation threat, with no rate cuts in sight
Headline inflation fell to 3.5 per cent in July thanks in part to state and federal energy rebates that will have only temporary effects, meaning the RBA is likely to keep interest rates where they are.
- 30 mins ago
- Michael Read
Albanese seals Pacific policing pact despite pushback
The diplomatic coup comes after Vanuatu’s pro-Beijing PM warned the Australian-backed police deal could be used for “geostrategic denial”.
- 32 mins ago
- Andrew Tillett
- Opinion
- Inflation
Why the RBA will ignore lower inflation
While Treasurer Jim Chalmers will welcome Wednesday’s lower inflation number, the RBA won’t be fooled by the temporary and artificial effect of energy subsidies.
- 53 mins ago
- John Kehoe
Inflation slows; Tabcorp’s $1.4b write-down; $2.2b for Forrests
Read everything that’s happened in the news so far today.
- 54 mins ago
Two-speed economy exposes the great Australian divide
The gap has widened between younger and older Australians, small and large businesses, and resources-rich Western Australia and the east.
- 59 mins ago
- John Kehoe, Michael Read, Carrie LaFrenz, Tom Rabe, Ayesha de Kretser, Lucas Baird and Sam Buckingham-Jones
Woolworths supermarkets lose ground to Coles after tumultuous year
The major retailer recorded a slight rise in underlying profits, which were all but wiped out by a big write-down in its New Zealand business.
- 1 hr ago
- Carrie LaFrenz
- Opinion
- Chanticleer
Banducci’s last Woolies profit is his worst misstep and finest moment
CEO Brad Banducci leaves the retail giant in a difficult spot. But the strategic decisions he’s made can drive the group’s turnaround.
- 1 hr ago
- James Thomson
Zelensky says incursion into Russia part of plan to end war
Volodymyr Zelensky says he is not intending to permanently annex the region; PM announces endorsement for Pacific police; Victorian education minister slams student caps. Follow live updates.
- 1 hr ago
ASX investors paying ‘eye-watering’ prices despite weak earnings
Investors in Australia’s sharemarket are increasingly getting less bang for their buck for some of the biggest names on the ASX, but they are paying it anyway.
- 1 hr ago
- Joshua Peach
- Opinion
- World politics
Biden was good at managing America’s decline
Between the peak of something and its ultimate demise, a vast amount can be achieved. Perhaps it took a man who became president at 78 to see the point.
- Janan Ganesh
Gill McLachlan hits the Tabcorp reset button with $1.4b write-down
The wagering giant has struggled to best its larger overseas rivals, and its new chief executive said it was obvious it would not meet cost reduction targets.
- Zoe Samios
Billionaire Blundy offloads big Accent stake to British retailer
Brett Blundy has sold his shareholding in ASX-listed Accent, which is behind the Hype DC and Platypus chains, to London’s Frasers Group.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Fortescue dividend worth $2.2b for Forrest family
Andrew and Nicola Forrest will receive the windfall after Fortescue raised its dividend payout ratio at a time when it is cutting 700 jobs.
- Peter Ker
UK tones down ‘right to switch off’ rules
Rather than seeking legislation to enact the new after-hours employee contact protocols, ministers instead will push for a code of practice for businesses.
- Updated
- Irina Anghel and Ailbhe Rea
Greens demand $500b in ‘Robin Hood’ taxes on miners, corporates
The Greens’ “Robin Hood” reforms would levy an extra $514 billion in taxes over 10 years.
- Phillip Coorey
NFL ushers in new era, allows private equity ownership
League owners loosened some of the strictest rules in US professional sports to allow PE to own as much as 10 per cent of a team.
- Randall Williams
Chip challengers try to break Nvidia’s grip on AI
Cerebras, d-Matrix and Groq are among a group of smaller companies aiming to take a slice of the multibillion-dollar artificial intelligence hardware market.
- Michael Acton and George Hammond
- Live
- Markets Live
ASX falls; Woolworths and Kelsian climb; Tabcorp sinks
Shares lower; $A rises as July CPI cools; Tabcorp dumps turnaround strategy; Woolworths flags special dividend; Kelsian bounces after sell-off; APA profits increase. Follow updates here.
- Timothy Moore, Joanne Tran, Joshua Peach, Cecile Lefort, Alex Gluyas and Sarah Jones
Revealed: the two key ages when your body has a ‘mid-life crisis’
Scientists who assessed more than 135,000 molecules in people aged 25 to 75 expected to see linear changes with age, but instead they discovered “cliff edges”.
- Sarah Knapton
