Protests hear rogue CFMEU leaders vow ‘absolute destruction’ of Labor
Ousted CFMEU officials have vowed to campaign to turf Labor out in state and federal elections, as tens of thousands of workers stopped work around the country to protest the CFMEU administration.
- Opinion
- Chanticleer
How Coles stopped the thieves and beat the petty politics of profits
Populist politicians will probably claim Coles is price gouging. But its results tell a more nuanced story that’s resonating with investors, if not voters.
Canada tries to halt China’s EV flood with 100pc tariffs
The move replicates US and EU measures as Prime Minister Justin Trudeau says China “is not playing by the same rules” as everyone else over electric vehicles.
Households have run out of pandemic savings
The $300 billion in pandemic-era savings may have run out, encouraging households to save stage three tax cuts.
Zip nails comeback, predicts huge US transaction growth
Zip shares took a breather after a strong run driven by its pivot to profitability.
- Opinion
- Chanticleer
BHP just called the end of the iron ore boom
While the steelmaking material will deliver huge profits for decades to come, BHP chief executive Mike Henry has switched his growth focus to the next big thing.
New overseas students to be capped at 270,000
Federal Education Minister Jason Clare has released details of Labor’s plan to reduce foreign student numbers at universities and colleges from next year.
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EARNINGS SEASON
Guzman y Gomez is nearly a $4 billion company
The Mexican-themed fast-food chain is outstripping rivals in delivering strong same-store sales growth and closed at a record on Tuesday.
BHP cuts dividend to fund growth splurge
Shareholders will take a 14 per cent dividend cut as the miner funnels spending towards growth.
Zip nails comeback, predicts huge US transaction growth
Zip shares took a breather after a strong run driven by its pivot to profitability.
Coles rewards shareholders as profit and margins jump
The result pushed Coles shares to a two-year-high, as major retailers face more political heat over alleged price gouging.
- Updated
- Earnings season
Woodside reassures investors on dividends as profits slip
The company told shareholders that it could maintain “strong” payments even as it ramps up spending on low-carbon energy projects and new oil and gas fields.
TECH TUESDAY
- 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.
- 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.
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
New music booking platform raises millions to cut out middle men
Try to book big names for an event, and you’ll face a dozen sites claiming to represent them. That scourge may now end for artists such as Casey Donovan.
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Companies
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.
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.
Ciaran Carruthers to leave Crown Resorts
The departing chief executive will be replaced by David Tsai as interim CEO from September 1.
- 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.
Qantas blunder lets people buy first-class tickets for 85pc discount
Within eight hours, passengers snapped up 300 of the seats on flights between the US and Australia, getting deals of up to $29,000 for as little as $5000.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
ASX slips; Woodside, BHP shine
Shares slip; Integral Diagnostic swings to loss; Coles reports higher profit; Lovisa’s revenue jumps; BHP cuts dividend; Telix revamp. Follow updates here.
Iron ore’s spike above $US100 won’t last: strategists
The price of Australia’s key export has bounced 10 per cent in just two weeks, catching hedge funds off guard.
CBA chief economist Stephen Halmarick calls time at bank
The economics specialist is due to depart early next year after almost 16 years with the big four lender to pursue other opportunities in the field.
Gold bulls delight in Jackson Hole as Powell juices rally
Investors say the Federal Reserve chairman’s speech was a watershed moment for bullion.
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.
Opinion
How to remake the CFMEU culture of confrontation
Only deeper, durable changes will stop the law-breaking construction union’s self-reinforcing behaviour re-emerging after three years of administration.
Industrial relations expert
Beijing could do without Trump’s unpredictability on steroids
The conventional idea is that China would prefer the chaos of second Trump term. But on the ground, officials and scholars are wary of a Trump victory.
Columnist
How business can navigate ‘counterproductive’ workplace laws
The government crackdown on flexible forms of employment will require finding other ways drive innovation, productivity and growth in ways they can control.
Workplace lawyer
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
An aggressive Ukraine has crossed Washington’s red line
Volodymyr Zelensky is prepared to ignore Russia’s nuclear threats. But the Biden administration is still wary of escalating the war, writes Gideon Rachman.
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
Austal fights to keep US Navy work after $35m fraud penalty
The Australian defence contractor accepted a $US24 million fine in a plea deal to avoid criminal prosecution after a long-running American investigation.
Australia pressed to spend more climate dollars in Pacific
As he heads to the Pacific Islands Forum, Prime Minister Anthony Albanese is under pressure to boost Australia’s contribution to poorer nations’ fight against climate change.
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.
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.
- 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.
SPONSORED
World
Top US, China officials to meet on military, Taiwan, fentanyl
The two countries are at odds over the Middle East and Ukraine, Chinese territorial claims from Taiwan to the South China Sea, and trade.
Risk of broader Middle East war has eased: top US general
But Iran still poses a significant danger as it weighs a strike on Israel, says Air Force General C.Q. Brown
Canada tries to halt China’s EV flood with 100pc tariffs
The move replicates US and EU measures as Prime Minister Justin Trudeau says China “is not playing by the same rules” as everyone else over electric vehicles.
- Analysis
- China relations
‘Two bowls of poison’: China weighs Trump and Harris in White House
Beijing is wary of the mystery around a vice president with little exposure to foreign affairs. But it is equally leery of her rival’s antagonism on trade and COVID-19.
Ukraine plans payback with new weapon after ‘massive’ Russian attack
Ukraine says it has a new long-range “game changer” weapon to strike deep into Russia, and it doesn’t require asking permission from the US and other allies.
Property
London’s luxury-home market looks to rich Americans to save it
Agents looking to sell the city’s priciest homes are increasingly seeing US buyers as their best hope for reviving a market hurt by tougher taxes on the rich.
What home buyers want, according to search results
Home buyers’ priorities are shifting as cost-of-living considerations rise, making some lifestyle features less desirable.
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.
Wealth
Being an Nvidia multimillionaire isn’t as enjoyable as you may think
The tech darling’s 3776 per cent rally has enriched people, but they are too busy to bask in their wealth, as work at the company is gruelling and high-stress.
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.
Technology
- 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.
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
- Performing arts
Why Casey Donovan has 10 people claiming to be her agent
Try to book big names for an event, and you’ll face a dozen sites claiming to represent them. That scourge may now end for artists such as Casey Donovan.
Work & Careers
People think our job is boring: accountants lament image problem
Almost half of surveyed accountants and bookkeepers believe their industry has an image problem, and most say the sector is seen as boring.
Double your salary, no tax: Meet the Aussies moving to Saudi Arabia
The rulers of the country, once a pariah state, are turbocharging efforts to rehabilitate its image. And there are plenty of expats enjoying the ride.
Life & Luxury
What it’s like to eat at Jeremy Clarkson’s new pub
If you want to dine at the controversial TV presenter’s Farmer’s Dog inn, first you have to queue for hours with hundreds of people.
- Opinion
- Mental health
Want to be a more effective trader? Get in touch with your emotions
Emotions put us in the right mind-state so that we can effectively think about situations. Ignore them at your peril.
Fashion house turns up the dial on designer watches
Ralph Lauren is all about bringing a little panache to the wrist without compromising on the mechanicals.
Four core exercises that will help you stay upright as you age
Beyond aesthetics, a strong centre is crucial for overall health, especially as you get older. It could even save you from a fatal fall.
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.
