- Exclusive
- Superannuation
AustralianSuper takes billion-dollar hit on venture capital failure
The country’s largest superannuation fund had extended loans and capital to education start-up Pluralsight. But lenders have moved in, wiping its investment.
- Live
- Markets Live
ASX to rise, BHP, Coles top results agenda
Shares to inch up. Techs weigh down S&P 500, Nasdaq. Dow closes at record high. Oil lifts on Libyan export threat. Iron retakes $US100. Follow updates here.
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.
- Live
- Need to Know
Russia strikes Ukraine’s power grid in ‘massive’ attack
Russia attacked Ukraine with more than 200 missiles and drones; Five killed in Israeli strike on West Bank; Joe Biden speaks with Indian Prime Minister about recent visit to Ukraine. Follow live updates.
- Exclusive
- Federal election
Coalition to fund ‘aspirational’ tax cuts from axed Labor policies
Lifting the $135,000 tax threshold is one option being considered as the Coalition aims to help aspirational voters.
- Opinion
- Chanticleer
Paul Bassat’s biggest ever bet isn’t a start-up
The veteran entrepreneur and investor will take a leap into the world of politics and policy with the launch of his new grassroots community organisation.
- 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.
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EARNINGS SEASON
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.
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.
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.
$340m wipeout for Kangaroo Island ferry operator
Cost blowouts on construction of ferry infrastructure on Kangaroo Island, along with spending on buses in NSW and USA, cause a 25pc share price plunge at Kelsian.
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.
TECH TUESDAY
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
New platform cuts out the grifters, including Casey Donovan’s ‘agents’
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.
Why Telegram became the go-to app for troublemakers
A light-touch approach to content moderation means the software is now a prime target for governments trying to stop criminal activities and misinformation.
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.
- 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.
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
Companies
NIB says plan to fix hospital pricing ‘crazy’ as funding tensions grow
Insurers and hospitals are split on how to fix their acrimonious pricing negotiations as government reviews private health.
Pilbara Minerals loads up on debt despite bleak lithium outlook
A new line of credit was unveiled on Monday at the miner’s full-year result, where it reported the lithium price crash had dented its net profit by 89 per cent.
Ciaran Carruthers to leave Crown Resorts
The departing chief executive will be replaced by David Tsai as interim CEO from September 1.
- 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.
- 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.
ERA faces shareholder backlash as it flags $210m capital raise
The Rio Tinto controlled company needs to raise money to rehabilitate the Ranger uranium mine in the Northern Territory. Some investors are not happy.
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.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
Five reasons traders don’t believe the RBA’s rate warning
From forecasting errors to credibility issues, market pundits flag the many risks that lie ahead for the Reserve Bank on interest rates.
What happened overnight? Wall Street slipped, oil rebounded
Australian shares were set to edge higher. Results were pending from BHP and Coles, among others. Techs were mostly lower in shift to small caps in New York. Iron ore was up.
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.
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
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
There’s just no evidence that profits are pushing up prices
Consumer prices have been rising. But its costs not profits that have been doing the driving, writes Saul Eslake.
Contributor
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
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
The late Mike Lynch had big lessons for Australian business
If Australia wants to get the most out of AUKUS, then it must adopt the kind of SME-based procurement rules the controversial entrepreneur pushed for.
Technology investor
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
Venture capitalist teams up with CBA for next big project – democracy
Venture capitalist Paul Bassat is worried Australia is heading in the wrong direction and has teamed up with the Commonwealth Bank and others to get it back on track.
Chalmers rejects Keating, crossbench criticisms of super tax hike
Jim Chalmers has rejected criticism by Paul Keating and parliamentary crossbenchers over his proposal to hike taxes on high-value superannuation accounts.
Labor set to legislate on aviation this year
Long-awaited changes at Sydney Airport finally look to be closer, as Transport Minister Catherine King handed down a timeline on Harris review implementation.
Uni VC warns student caps may breach the Constitution
Western Sydney Uni vice chancellor George Williams, a law expert, says the caps bestow a “surprising” concentration of power on Education Minister Jason Clare.
UN chief demands fossil fuel ban as he meets Pacific leaders
UN Secretary-General Antonio Guterres accused G20 governments of “signing away our future” when they issue new oil and gas licences.
SPONSORED
World
China’s budget spending shrinks as land sales plummet
The property fallout on public finances is becoming increasingly evident on the balance sheets of indebted local governments.
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
- 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.
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
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.
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.
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
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
- 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.
Life & Luxury
Forget Aperol spritz, this is what’s hot on the drink list this year
Aperol Spritz is so last year. Zoncello limoncello spritz and local sparkling wine are on the summer drinks hit list.
This is where you will be treated like racing royalty
Few hotels can claim an equine concierge, but book a stay at Ireland’s Cashel Palace and you will mingle with the best in the business.
- Gadgets With John Davidson
- Digital Life
How to hide your tech in plain sight
Like Samsung’s Frame TV, the Samsung Music Frame uses the power of invisibility to get spouses to finally agree on something for once in their lives.
Sydney, beautiful but boring, relearns to party
The city is ending a shortage of bars and nightclubs, overruling inner-city residents who prefer their streets quiet.
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.
