- Opinion
- Chanticleer
Australia’s twin housing crises could hurt Bunnings
Bunnings sales are slowing as building activity stalls. That’s a problem for Wesfarmers, which is priced liked a tech growth stock.
‘Go elsewhere’: news of student caps hits Chinese social media
Fatigued by a year of migration reforms, students in China think they are being treated badly by Australia.
- Opinion
- Government Observed
A culture war is the least of the census’ problems. Let’s get rid of it
A ditched plan to include questions about the LGBTQ community in the census has raised questions about the future of the $600 million big five-yearly national survey, writes Tom Burton.
Millions of workers could soon get more WFH rights
Millions of clerical workers could soon have the right to request working-from-home arrangements under changes being considered by the Fair Work Commission.
- Updated
- Earnings season
Kmart sparkle sends Wesfarmers’ profits and dividends higher
While the conglomerate’s retail brands including Bunnings and Officeworks posted increased earnings, the mining and energy businesses went backwards.
- Results Wrap
- Chanticleer
Perpetual ready to sprinkle riches; red flags at Cettire
Wesfarmers and Qantas headlined the final Thursday of earnings season, but it was Perpetual and Cettire’s results that caught our eye.
PM’s $1.5b solar and battery plan needs review: PC
The Productivity Commission has urged Labor to assess if the subsidies are in the national interest, as energy expert Tony Wood said it was ‘nonsensical’ to compete against China.
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
Companies
- Analysis
- Bonds
What debt crisis? MinRes bondholders are relaxed (for now)
“Nervous nellies” in Australia are fretting about the company’s debt levels, but its billionaire boss reckons US bond investors would prefer to talk fishing.
Cettire auditor fails to sign off on accounts, begins ‘nuanced’ review
The luxury online retailer was a market darling. But its market capitalisation has been slashed amid weaker sales and questions about its business model.
- Updated
- Big four
Big business faces down Canberra’s ‘insidious’ populist policies
Commonwealth Bank chief Matt Comyn has warned “performative” attacks is eroding trust, highlighting the rising tensions between MPs and corporate Australia.
Seven tells court 13 women have claims about newsman Robert Ovadia
The former high-profile crime reporter was sacked by Network Seven in June amid an internal investigation. He is fighting the claims.
- Updated
- Earnings season
Qantas deflects Qatar factor, readies for more competition
The airline reported $2.1 billion in earnings last financial year, down 18 per cent from a record result in 2023.
Mortgage broker pay should attract more scrutiny: Comyn
The chief executive of the country’s largest lender says mortgage brokers who write the majority of loans “don’t have any controls” on pay at all.
Platinum profit falls as funds flee on performance
The investment manager blamed poor performance for shrinking inflows, but said “green shoots” were coming through on investment returns.
Companies in the News
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Markets
Wesfarmers, Cettire drive ASX lower
Shares fall; Nvidia’s forecast disappoints; Sandfire ups revenue; higher profit for Wesfarmers; Atlas Arteria & Qantas profit drop; Southern Cross skips dividend. Follow updates here.
These early Nvidia backers are offloading their shares – for now
Some early Australian investors of the AI darling were positioned for a sharp sell-off in the shares this week, including Munro Partners, but a re-acceleration in the chipmaker’s earnings is also in their sights.
- Analysis
- Earnings season
Nvidia’s fall shows ‘just great’ isn’t good enough any more
On the surface everything was rosy in Nvidia’s market-shifting earnings call, so why have investors headed for the door?
Warren Buffett’s Berkshire Hathaway tops $US1 trillion market cap
The conglomerate has become the first US company outside the technology sector to reach the 13-figure milestone, after its shares rose 30 per cent this year.
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.
Opinion
Time for lateral thinking on boards
Representation of pensioner members on super fund boards is an eye-catching idea. What if similar lateral thinking was applied to the future of corporate boards too?
Editorial
Business CEOs push back on political grandstanding
Big business makes mistakes as well as money, but chief executives like CBA’s Matt Comyn and Wesfarmers’ Rob Scott are pushing back against “fact-free” accusations.
Columnist
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
Why the Pilbara is not going to explode in a wave of strikes
Getting the majority of workers to back a new wave of unionism in the Pilbara might be harder than either side thinks.
Former union official.
The two words you should always treat with caution in business
Sentences which begin “Studies show...” are often followed by a description of a correlation interpreted as if it were a causal relationship - when it’s not.
Economics professor
Whole-of-government should cut across ‘legacy’ portfolios
The big and wide-ranging issues that will dominate future decades require an integrated strategy office to be established to wrestle with complex, integrated problems.
Strategic thinker
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
Labor MP breaks ranks over LGBTQ census question
Josh Burns reveals he has been lobbying internally for Labor to keep its promise to count gender and sexually diverse people in the census.
The surprising home of Indigenous art in Europe
Indigenous art curator Tina Baum is riding a wave of popularity and curiosity in Aboriginal and Torres Strait Islander culture
King says cash rate will settle in low 3pc range
Peter King says banker pay is a ‘live issue’ for Westpac; CBA boss Matt Comyn says term deposit rate accusations are incorrect after he was quizzed on coffee prices. How the day unfolded.
Keep building ambition, says key architect behind Sydney Metro
UK-based John McAslan says Sydney Metro was a smoother ride than London’s recent Elizabeth Line.
CFMEU directors depart in Cbus board cleanout
The lawbreaking construction union’s three directors have left the board of Cbus, but it is unclear who the CFMEU administrator will replace them with.
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World
US, Chinese officials to wrap up talks on Taiwan, military
US National Security Adviser says the meeting is a “rare” event, and that both countries have a responsibility to prevent competition from veering into conflict.
Chinese officials struggle to build ties with Trump’s campaign
The frustrated overtures come amid rising bipartisan hostility towards China and a realisation in Beijing that US policy is unlikely to become less hawkish.
Republicans fear Trump’s campaign strategy is failing
Republicans are anxious about Trump’s failure to mount effective attacks on the vice president and his embrace of fringe politicians.
‘Obscenely greedy’ oil execs jailed over vast 1MDB fraud
A Swiss court found the former PetroSaudi executives responsible for embezzling $2.6 billion in what the court heard was the “fraud of the century”.
Telegram boss charged, blocked from leaving France
Pavel Durov faces preliminary charges over the alleged failure to address criminality on the messaging app, including the distribution of sexual abuse content.
Property
- Exclusive
- Industrial
Rich Listers double down on industrial with $800m logistics plans
Brothers Andrew and Michael Buxton have spent almost $150m buying adjoining sites in south-east Melbourne where they are planning an $800m logistics estate.
Guggenheim rises in the desert as Abu Dhabi morphs into expat hub
All around, there are growing signs of a big construction boom that’s changing the face of this once sleepy, oil-rich emirate.
Dreaming of a tree change? You might be too late
Housing approval numbers in many regional areas went backwards in the past financial year, while capital cities fared a lot better, official data shows.
- Exclusive
- Building Bad
How construction failures push up costs for builders – and consumers
Union officials with unchecked power on construction sites force builders to cover costs of insolvent subcontractors, which in turn pushes up costs for home buyers.
- 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.
Wealth
Yachts, fine art and investment properties targeted by ATO
The ATO will use data from insurance and property management companies to cross-check taxpayer claims.
- Opinion
- SMSFs
Beware – DIY repairs and renovations are a minefield for SMSFs
Doing work on a property owned by your SMSF is fraught with danger because of strict tax and superannuation laws. Here’s what you need to know.
My short-term memory is a worry – should I close my DIY super fund?
Many retirees with SMSFs worry about diminished capacity as they get older – this is what to do.
Technology
Ray Dalio to beta test an AI version of himself
Billionaire Ray Dalio created the world’s biggest hedge fund, now he’s recreating himself with AI to share his principles.
No sweetener for NextDC in AirTrunk’s $20b auction
The CEO of data centre group NextDC, Craig Scroggie, doesn’t expect AirTrunk’s sale to influence the way his company is valued by the sharemarket.
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.
Work & Careers
This Australian creative is taking the top job at global firm Droga5
Mark Green co-founded The Monkeys 18 years ago, selling it in 2017. Now he’s moving to New York to take over as chief executive of the advertising giant.
Five times you shouldn’t trust your gut as a leader
Gayle Dickerson says relying on intuition can be useful when you’re dealing with imperfect information.
Life & Luxury
Save the date for a feast of shows in September
From Spiderbait to Sweeney Todd, Oscar Wilde to David Williamson, our pick of the best shows around the country will put a spring in your step.
The year’s top watches are from brands you’ve probably never heard of
The ‘Oscars of watchmaking’ takes place in Geneva later this year – and there are some unexpected names among the nominees.
- Exclusive
- Art
How the Melbourne Symphony Orchestra is tearing itself apart
War erupted on the board of one of Australia’s most prestigious arts institutions long before the public upheavals over a pianist’s remarks about Gaza.
Why everyone should play this game of integrity
Actuarial recruiter Jas Singh only became serious about mastering golf in the past few years and believes the fairway is a great place for personal growth.
‘Kneecap’ and ‘Touch’: edgy Irish hip-hop and an Icelandic romance
The fictionalised biopic of a loud, incomprehensible band has a rough and ready quality, while a heart-warming drama somehow manages to keep the lid on the treacle jar
