Labor, Teals turn on Greens over CFMEU embrace
Zoe Daniel and Allegra Spender have joined the Albanese government in castigating the Greens for cosying up to the CFMEU.
Rio Tinto poised to take control of uranium project clean-up
Rio Tinto is attempting to end decades of disputes with minority investors, traditional owners and governments over the project in the Northern Territory.
- Opinion
- Chanticleer
Rio Tinto takes bazooka to uranium fight
Rio Tinto used its price setting power to blow minority shareholders out of the water, writes Anthony Macdonald.
Home building goes backwards as infrastructure booms
Developers and economists say conditions might improve soon for detached homes, but there’s no sign of any change that would get apartments going up again.
Nine reveals how much it paid to air Paris Olympics
The rights to the Paris 2024 Olympic Games through to Brisbane 2032 cost Nine $305 million.
- Opinion
- Chanticleer
Australia’s iron ore future is different, not dead
There’s plenty of red dirt in Fortescue’s results – which makes it a bit different to its two big rivals. Andrew Forrest is in China trying to work it out.
Markets legend Steve Maartensz dies
The former equities markets operator was also among the most liked in the market, his friends said, well-known for his generosity and the love of a good lunch.
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Companies
- Updated
- Earnings season
Woolworths loses ground to Coles after tumultuous year
The major retailer recorded a slight fall in underlying profit, which were all but wiped out by a big write-down in its New Zealand business.
- Opinion
- Chanticleer
Four big private credit questions regulators should be asking
APRA is right to pay more attention to private credit risks. But it may need help.
Flight Centre reveals who is travelling (and who isn’t)
The travel booking company has streamlined and boosted efficiency and says the corporate travel segment is still weak but it’s still winning market share.
- Results Wrap
- Chanticleer
McLachlan just reset Tabcorp’s strategy. It’s smart, but painful
Tabcorp resets investors expectations yet again, Flight Centre’s Graham Turner provides his verdict on airfares, and APA braces for regulatory change.
APA Group says customers to pay if pipeline regulated
The gas operator’s chief executive Adam Watson says a decision to subject a key Queensland pipeline to full price regulation will hit customers with higher bills.
Fortescue aims to split the bill on hydrogen build
A plan to build an ammonia project in the Norwegian fjords will cost in the “low $US1 billion” range.
- Updated
- Earnings season
McLachlan hits the Tabcorp reset button with $1.4b write-down
The wagering giant struggles to best its larger overseas rivals, and its new chief executive says it was obvious it would not meet cost reduction targets.
Companies in the News
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Markets
ASX flat; Tabcorp plunges 15pc; Woolworths rallies
Shares finish flat; $A rises as July CPI cools; Tabcorp dumps turnaround strategy; Woolworths flags special dividend; Kelsian bounces after sell-off. Follow updates here.
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.
Gold bulls delight in Jackson Hole as Powell juices rally
Investors say the Federal Reserve chairman’s speech was a watershed moment for bullion.
What happened overnight? Wall Street churned as it awaited Nvidia
Australian shares were set to open down. US stocks traded in a narrow range as the AI darling’s quarterly results loomed. Iron ore advanced, oil pulled back.
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.
Opinion
Labor losing ground on left and right
Labor’s fury at Greens MP Max Chandler-Mather over his CFMEU support is a convenient political distraction.
Columnist
Have universities brought Clare’s hard cap on themselves?
It’s a populist political fix for cutting immigration. But a failure of university self-regulation has also led to government intervention.
Editorial
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.
Economics editor
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.
Contributor
China’s EVs good for Aussie drivers, bad for global trade war
Inside Australia’s national security and economic agencies, a new vexing issue about China is being discussed.
Economics editor
Why haven’t the police investigated the doxxing of Jewish creatives?
We now know who leaked the names and comments in the WhatsApp group. But what about holding accountable those who used carriage services to menace and harass?
Australian Jewish Creatives and Academics WhatsApp group
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
Power rebates hide inflation threat, with no rate cuts in sight
Headline inflation fell to 3.5 per cent in July partly thanks to temporary energy rebates, meaning the RBA is likely to keep interest rates where they are.
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.
Albanese seals Pacific policing pact despite pushback
Despite Australia committing $400 million to new police deal, Pacific countries will still be able to work with Beijing on law enforcement.
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.
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 stopped work to protest the CFMEU administration.
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World
US military eyes escorting Philippine ships in South China Sea
The head of the US Indo-Pacific command said he was open to discussions about escorting Philippine ships amid growing clashes with China in the disputed waters.
Even Temu is crashing, in red flag for China’s economy
PDD Holdings, owner of market darling Temu, has surprised investors with an unusually gloomy outlook, as the nation’s economic malaise takes a toll on demand.
Trump hit with new US criminal charges before election
Prosecutors are attempting to tailor the fresh charges against Donald Trump to reflect the Supreme Court decision on presidential immunity.
Israel rescues first living hostage from Gaza tunnel
The 52-year-old Israeli father of 11 was taken to a hospital, where members of his large Bedouin Arab family gathered around his bedside in a joyful reunion.
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.
Property
- Exclusive
- Luxury property
Late Foxtel boss’ luxury weekender sets Central Coast record
The luxury weekender owned by one of Australia’s most influential entertainment pioneers, the late Brian Walsh, sold for an undisclosed price understood to be between $9.5 million and $10 million.
Hydrogen-powered skyscraper set for Egypt’s new desert capital
The 50-storey skyscraper will rise in a new capital being built from scratch in the desert east of Cairo.
Airbnb boom hits a wall as landlords slash prices to lure tourists
A broad backlash from residents and resurgent interest in hotels has made life more difficult for property owners, forcing rates down in many popular areas.
Number of homes for sale soar ahead of spring
Fresh listings are surging in some of the more expensive housing markets in Sydney and Melbourne as sellers rush to beat the competition.
Villawood secures $400m, 800-home project in SA wine region
The new Aldinga community is part of a plan to boost the population of an area that has grown more slowly than central Adelaide.
Wealth
The window to make decent money on term deposits is fast closing
Banks have already started cutting interest rates anticipating the Reserve Bank’s next move, but there are still reasonable deals to be found.
The hunt for truly diverse investments – from alligators to concrete
With regular asset classes increasingly correlated, wealthy investors are looking to some esoteric choices.
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.
Technology
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.
- 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.
- Exclusive
- Performing arts
New talent 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.
Work & Careers
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.
Anthony Pratt a witness to father’s love for half-sister: court claim
Billionaire Anthony Pratt and his sisters were witness to the “bonds of love and affection” between their late father and his “love child” Paula Hitchcock, claim new court documents.
Life & Luxury
Private investigator’s weapons fetch a fortune
Warren Mallard penchant’s for “edged” weapons has paid off, while James Wolfensohn’s modern Australian classics get a mixed reception.
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”.
- Drinks With Max Allen
- Wine & spirits
How a dinner conversation led to a vineyard purchase
Novice owners are writing the next chapter at a top Mornington Peninsula estate.
Hermès for your home? See what the luxury brand has in store
These covetable products may be new, but they include plenty of retro nods.
The robochef revolution poised to take over restaurants
Robot-driven kitchens are delivering profit margins that traditional restaurateurs can only dream of, and their spruikers argue that human chefs will benefit too.
