Dutton doubles down on ‘price gouging’ by big-box retailers
Brands including IKEA, Petbarn and Officeworks are expected to front the looming Senate inquiry into the business practices of big-box retailers.
- Opinion
- Chanticleer
AustralianSuper’s $1.1b hit a warning about perils of private capital
The country’s biggest super fund has had an expensive front-row seat to a story that should send shivers up the spine of investors piling into the sector.
The 6-minute mortgage: lender unveils new weapon in home loan wars
The lender reported a decline in profit for the past 12 months. And rivals are threatening to re-heat the intense battle for borrowers that cut into margins.
Sacked CFMEU leaders ‘go rogue’, prepare for mass walkouts
Sacked CFMEU NSW leaders held a mass meeting of delegates on Monday that called for nationwide walkouts, despite the union going into administration.
- Opinion
- Chanticleer
Why we’ll all end up taking Ozempic
Retiring NIB chief Mark Fitzgibbon on the two biggest issues facing the private health sector: the brawl between hospitals and insurers, and the future of care.
- Opinion
- Chanticleer
The ASX’s uranium stocks are on a bull run – except this one
You could not pick a better day to launch a uranium play’s equity raising. Stocks are flying. But investors see one company as nothing but a giant hole.
Australia has a ‘thousand levers’ to pull to increase new home supply
Governments must create an environment that makes it easier to add more housing, including bringing in more skilled tradies, says Mirvac’s development head.
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EARNINGS SEASON
Viva CEO Scott Wyatt rolling out EV chargers at his own pace
Mr Wyatt said Viva’s charger rollout matches the faltering uptake of electric vehicles, which works in the petrol station group’s favour.
Dan Murphy’s owner Endeavour fumbles early 2024-25 trading
The group, which also runs hotels and wineries, started the new financial year with weaker than expected turnover.
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.
85-inch TVs are taking over Australia’s lounge rooms
A big screen is no longer an extravagance as Kogan shoppers upgrade their home set-up, even if they are cutting back elsewhere.
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.
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Companies
Perpetual takes ‘embarrassing’ $547m write-down on Pendal funds
The firm, which is in the midst of selling a large part of itself to KKR, disclosed the write-down just four days before it delivers a full-year financial update.
Ciaran Carruthers to leave Crown Resorts
The departing chief executive will be replaced by David Tsai as interim CEO from September 1.
Private equity circles Grant Thornton’s UK business
Carlyle, Blackstone, Permira, CVC Capital Partners and Bridgepoint are among buyout firms that could result in a $2.9 billion valuation for the business.
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.
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.
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.
Companies in the News
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Markets
Traders pile into $A, commodities ahead of Fed cuts
Investors have started targeting the US dollar, adding further momentum to its decline and sparking a rally across foreign-exchange and commodity markets.
Lithium mine closures just ‘tip of the iceberg’
UBS is the latest broker to slash its lithium forecasts, warning that more projects need to close or pause production to end the collapse in prices.
US rate hopes push ASX near record; Endeavour, NIB, Kelsian sink
Real estate and banking stocks rally on Fed comments. $A reaches for US68¢. Uranium stocks rally. Oil gains on Middle East escalation.
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.
Opinion
Dutton’s populist politics trashes Liberal principles
The Coalition’s junior National Party partner is running a populist anti-business agenda, trashing the pro-business principles the Liberals purport to stand for.
Editorial
Why flight delays remain a ‘regrettable reality’ for many Australians
Transport Minister Catherine King promises fixes for airline customers failed by delays, cancellations and sky-high fares – just not quickly.
Columnist
Plan for aviation ‘ombuds’ misses the real problem with air travel
An expanded bureaucracy will likely deliver the opposite of what Australians want and deserve: lower airfares.
Senior correspondent
Why you should hear out Andrew Hauser
The recessionistas out there should be listening to the RBA deputy governor’s warnings against overconfidence in predicting the economy.
Former Labor minister and economist
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
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
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
- Analysis
- Monetary policy
Jackson Hole bankers pivot to cuts as soft landing comes into view
Global rate-setters have left the Wyoming symposium cautiously optimistic, but acutely aware of the risks of either cutting rates too soon or leaving it too late.
Women supercharge Harris’ campaign coffers to $795m
The vice president’s fundraising has benefited from Democratic National Convention enthusiasm and “unprecedented grassroots donations”, mainly from women.
- Analysis
- US election
‘Mind-boggling’: Why Trump is still in the presidential race
Anthony Scaramucci was fired by Donald Trump after just 11 days; he has launched a blistering attack on his former boss – and also the Americans who support him.
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.
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.
Property
Couple buys $1.8m home – and still ends up sharing with parents
Many multi-generational families want to live close to each other. But worsening affordability has reduced spending power – and that’s changing housing design.
Dubai booms with an influx of anxious wealth
The desert sheikdom’s economy is buzzing with tourism and construction as it positions itself as a safe haven in a region that’s resting on a knife’s edge.
Developers turn to micro apartments to fix housing crisis
Well-designed apartments smaller than 32 square metres can be rented out to singles and couples at rates below the market.
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.
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
Why this start-up thinks it can succeed where Uber failed
Drive Mate says it has had a 39 per cent increase in vehicles listed to rent on its platform since news broke of Uber’s plan to close its car sharing service.
The Pixel 9 Pro features we won’t forget about
Smartphone makers, including Google, are throwing dozens of new artificial intelligence features at us right now. How many of them will stick?
- Exclusive
- Performing arts
Why Casey Donovan has 10 people claiming to be her agent
Try to book big names for an event, and you’ll be confronted with a dozen sites claiming to represent them. A new industry-funded platform seeks to cut out the middle-men.
Work & Careers
- Opinion
- Workplace culture
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.
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.
Life & Luxury
- Breaking
- Workplace
Melbourne Symphony sacks chief, taps Peter Garrett for review
The besieged orchestra has let go its managing director, and hopes the Midnight Oil singer’s independent review can help restore public confidence.
Why women over 50 go off sex – and what to do about it
Hormones, physical changes and stress all play a role – but, happily, there’s positive action to take.
Once a side hustle, this brand has just doubled its revenue in a year
When Anna McLaren launched A.Emery, she simply designed what she wanted to wear.
- 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 make 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.
