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ASX rises as Powell gives greenlight on rates, Kelsian slumps 20pc
Real estate stocks rally on Fed comments. $A reaches for US68¢. Endeavour, NIB, Bendigo Bank fall on results. Follow updates here.
Latest Posts
ASX rises as Powell gives greenlight on rates, Kelsian slumps 20pc
Endeavour Group posts record sales as liquor stores outperform
Kelsian flags 176pc profit jump
Infomedia flags another earnings jump in FY25
Last updated 18 mins ago
Bunnings faces grilling as Nats turn on ‘big-box’ retailers
Price-setting practices, land acquisitions and supplier relationships of major retail brands set to be scrutinised in a new Nationals-led Senate inquiry.
- Exclusive
- Building Bad
Financial failure, missed taxes and deadly history no barrier to CFMEU promotion
Industry insiders claim a scaffolding firm with a chequered past and links to organised crime was still able to secure promotion at the highest levels of the CFMEU.
The right to disconnect starts today. Here’s what you need to know
Contrary to what some people think, it does not mean a blanket ban on employers contacting their staff after hours.
Chris Ellison’s daughter earns millions for MinRes shipping work
Mineral Resources requires ship owners carrying the group’s iron ore exports to use a shipping agent owned by the daughter of the chief executive, says Ownership Matters.
Why a Russian tech billionaire who stood up to Putin is now a target
Pavel Durov, who founded secret, successful messaging app Telegram in 2013, has been arrested in France, sparking outrage from free speech campaigners.
- Live
- Need to Know
Big business and unions clash over right to disconnect
Jane Hume calls new rules ‘unworkable’ for some jobs; Bunnings to face senate grilling; threat of all-out war Middle East subsides; Follow updates live.
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Companies
Aussie Broadband pays first dividend, cuts jobs
Aussie Broadband declared its first-ever dividend after it connected more customers to the internet, boosting annual net profit by 21 per cent.
Virgin cedes market share to Jetstar as budget travel crunched
Qantas is adding seats and winning share from Virgin, as the domestic aviation market softens and Jetstar’s new planes drive down fares.
- Exclusive
- Healthcare
Fixed price operations could be coming to private hospitals
Tensions between hospitals and health insurers are heating up as the federal government completes its inquiry into the struggling sector.
Google wants to slash what it pays news outlets as levy calls grow
The search giant has discussed cutting the amount it spends with publishers under the News Media Bargaining Code after Meta declared it would not renew deals.
Customers won’t be compensated for flight delays
Australian consumers fed up with airline delays and cancellations will need to read the fine print in the federal government’s white paper.
- Exclusive
- PwC tax scandal
PwC moves to settle former partner’s defamation action
The firm is close to settling a case brought by a former partner incorrectly and publicly linked to the notorious tax leaks scandal.
Billionaire Laurence Escalante’s gaming empire under attack
Virtual Gaming Worlds is facing increasing competition and regulatory pressures in the United States, its main market.
Companies in the News
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Markets
Paradice’s Sam Theodore sees riches in these uranium stocks
The former Blackrock hedge fund manager’s recent trip to Paladin’s flagship Namibia mine has made him more bullish on the controversial energy source.
- Opinion
- Sharemarket
Two wrong calls: Why fundies couldn’t beat the market in FY24
There were two key calls to make in FY24 if you wanted to at least keep up with the ASX 200. Get one of those trades wrong and that’s your year’s performance gone.
ASX inches closer to record as Fed’s Powell releases the bulls
A global sharemarket rally is set to spill over to Australian stocks on Monday, lifting the ASX to within striking distance of its all-time high.
Former Nvidia bulls sell down ahead of next week’s result
The AI darling has consistently smashed analysts’ expectations, but some fund managers warn the days of massive beats could be over.
Jackson Hole gathering reveals fresh concern for central bankers
Officials from three of the world’s major central banks have signalled they are on course to lower interest rates emerging weakness in labour markets and growth become the chief threat for policymakers.
Opinion
NT wipeout should spark real ‘closing the gap’ discussion
Ideally, the prominent role Indigenous policy will play in two critical NT federal seats would prompt much-needed discussion of Noel Pearson’s responsibility agenda.
Editorial
Why saying ‘no’ at work is good for your career
Researchers who knocked back extra work put themselves under the microscope and made some important discoveries.
Columnist
Government hasn’t matched Keating’s Indonesia pact
The new defence agreement with Jakarta is a welcome development, but the government claims too much too soon about its place in history.
International editor
Health insurance shouldn’t be private hospitals’ field of dreams
Instead of protecting private hospitals from predatory insurers, an obsolete contract framework protects operators from full accountability for inefficiencies and misjudgments.
Contributor
Labor’s workplace laws make work harder for business
The new maze of regulations adding to an already cumbersome system will act as dead weight for many businesses keeping their heads above water.
Business representative
The astonishing metamorphosis of Kamala Harris
Her shift from indifferent vice president to source of Obama-scale enthusiasm has caught many unaware. Yet Democratic talk of victory is dangerously premature.
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
Aviation white paper arrives late, and lacks action on competition
More delayed than a flight from Sydney to Melbourne, the white paper lets the airlines off the hook.
Hunter earthquakes would have ‘no effect’ on nuclear reactors
The epicentres of the earthquakes were near one of the Coalition’s proposed sites for a nuclear power plant. Should residents be concerned?
Non-compete clauses under scrutiny in competition reform
Jim Chalmers says boosting dynamism in the economy and lowering barriers to labour mobility are key priorities for a national policy reset.
Shorten defends disability cost savings
The federal government has pushed back on critics of reform plans passed by parliament, warning the future of the scheme is on the line.
Policing deal to squeeze out China on agenda for Pacific Islands talks
Anthony Albanese, UN chief Antonio Guterres and other regional leaders will gather in Tonga this week, where security and climate will dominate.
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World
Israel and Hezbollah signal end of heavy fire
Tel Aviv’s battle with the Iran-backed Lebanese militant group is the biggest since their war in 2006, sparking fears of a regional conflict.
- Updated
- Israeli-Palestinian conflict
Israel strikes Lebanon as Hezbollah launches rockets, drones
The heavy exchange of fire threatened to trigger an all-out war that could draw in the United States, Iran and militant groups across the region.
Attack on oil tanker in Red Sea threatens ‘severe ecological disaster’
The EU gave the warning at the weekend after the Houthis posted a video of what they said was an explosion on the 274-metre-long ship set off by its fighters.
Manslaughter, negligence investigation in Lynch yacht sinking
Authorities in Sicily have opened a manslaughter and negligent shipwreck probe into the August 19 sinking of British tech tycoon Mike Lynch’s yacht.
‘Phoning it in’: Trump allies try to energise struggling candidate
After weeks of complaining as Kamala Harris dominated the news, campaign events last week showed Donald Trump resisting all attempts to focus his message.
Property
Auction clearances hold steady ahead of spring flood
As the volume of auctions rises through spring, clearance rates are expected to fall in Sydney and Melbourne, putting pressure on prices.
The great divide: top tenants retreat to CBD cores
Weaker demand for office space and the rise of remote work are creating a race for high-amenity workplaces in CBD cores. Older, fringe buildings are losing out.
- Exclusive
- Luxury property
Paul Holmes à Court sells two Perth homes for $24m
Winemaker and cattle baron Paul Holmes à Court and wife Zara have sold their second home in Perth’s salubrious Peppermint Grove for $14.5m.
Swedish pension fund looking to offload $50m of WA farms
Forsta AP-fonden, which manages $68 billion of assets, is downsizing its Australian farmland holdings by selling its WA cropping farms.
- Exclusive
- Off-the-plan market
NRL superstar tackles developer over off-the-plan homes letdown
Tom Trbojevic, known as Tommy Turbo, said he was devastated that his parents were now priced out of their dream home because of a loophole in conveyancing laws.
Wealth
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?
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.
Technology
- Exclusive
- Venture capital
How this research institute turned cancer success into a $66m VC fund
After banking $US325m from co-developing a blockbuster cancer drug, WEHI has begun making start-up investments seeking scientific breakthroughs from a new $66m fund.
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.
Credit and payments fintech Shift raises $35m
The Funded blog is the home for news on the tech deals that are done in Australia, as soon as we hear about them.
Work & Careers
Setka accuses Labor of betrayal in secret deal not to take over CFMEU
The union’s former boss said the ALP betrayed a deal that it would not appoint an administrator in return for his resignation amid claims of bikie infiltration.
Miners forced to the table for industry’s first multi-employer deal
The Fair Work Commission has sided with mining unions in a precedent ruling for Labor’s multi-employer bargaining laws, raising the prospect of mass mine shutdowns.
Life & Luxury
- Driving With Tony Davis
- Motoring
It may be porkier than Lotuses past, but the Emira i4 is all class
Powered by an AMG engine, the i4 handles beautifully, with super-sharp steering and agility that makes for a thoroughly visceral driving experience.
In this watch arms race, it can never be too rich or too thin
Discover the secrets of the in-house movements at the heart of Piaget’s super-slim Polo Skeleton.
Love that celebrity’s style? Now you can buy their whole wardrobe
Selling your used clothes once came with a side serving of stigma. Now, even Kate Moss is clearing out her closet.
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.
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.
