Private patients face Ramsay hospital lockout
The nation’s largest private hospital operator said it would refuse to deal with health insurers that did not agree to cover a bigger portion of surging costs.
S&P 500 rises after data confirms inflation cooling
US benchmarks were trading in a narrow range ahead of a three-day break. Oil eases on OPEC worries. Bitcoin continues to struggle.
RBA won’t copy the Fed on 2024 rate cuts: Hauser
The RBA will not follow the Fed and cut rates this year because inflation is still too sticky and the 4.35 per cent cash rate is not very high, deputy governor Andrew Hauser says.
- Opinion
- Australian economy
Why Paul Keating is furious with Jim Chalmers
For the first time, the former Labor leader is slamming the Albanese government on economics rather than AUKUS. It’s all about the politics of aspiration.
Woolworths sells out of Endeavour Group; Goldman Sachs on trade
The $383 million block trade was handled by Goldman Sachs.
Australia’s fall in disposable income is the worst in the world
Australia experienced the largest fall across the OECD over the past two years. Economists say it will take another two years to recover.
A trip to Europe tops a new fridge, says Harvey Norman chairman
Gerry Harvey says households without a mortgage would rather travel than upgrade kitchen appliances, with the retailer reporting a 35 per cent drop in profit.
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
smart investor
Where home buyers can score the biggest bargains now
House sellers are slashing their prices by hundreds of thousands of dollars as fresh listings rise before spring.
Don’t be tricked by these sneaky auction tactics
From fear of missing out to what’s known as ‘money illusion’, it’s useful to understand the psychology of real estate negotiations.
Four strategies to lower pesky lenders’ mortgage insurance
Lenders’ mortgage insurance is a costly nuisance. But if it comes down to paying a bit extra and getting into the housing market sooner, it might be worth doing.
- Opinion
- Property investment
Investing in property for yield has never looked so unattractive
Rather than dealing a fatal blow by ending negative gearing on property, governments are bringing about death by a thousand cuts.
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.
weekend reads
Going rogue: The big questions over the CFMEU clean-out
Secret meetings of a self-described “leadership in exile” are raising fears the administrator has yet to take control of the union.
Why Australia’s sick hospitals are on the brink
Australians are paying more for surgery in private hospitals than ever, and there is no cure in sight for facilities struggling with record costs and fees.
Telegram’s Durov built a haven for free speech – and child predators
The Russian-born billionaire’s indictment in France has drawn outrage from supporters. But his platform hosts some of the vilest stuff on the internet.
- Opinion
- Live music
The Oasis reunion is all about the vibe
In that sense, Oasis Live ’25 will be no different from a Taylor Swift gig - another major moment but with more bad hair and beery tears.
How Kamala Harris would rule the world
The Democratic presidential candidate has been training for 21st-century threats: cyber and space warfare, artificially intelligent weapons, and quantum computing.
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
Companies
Bank boss outraged by 10pc transaction fee for coffee
The Reserve Bank is already scrutinising the growing practice of adding a fee to the cost of a purchase to cover the cost of processing the transaction.
Post offices could be your new cash machine
Australia Post is negotiating with the big four banks to roll out smart ATMs and expanded banking services after an $88.5 million loss.
- Updated
- Casinos
Regulator has Star chair in its sights despite licence reprieve
A report authored for the NSW regulator was scathing in its assessment of the company’s former chief executive and its board, led by chairwoman Anne Ward.
We have suffered reputational damage from bond scandal: ANZ boss
Shayne Elliott says he’s prepared to face the consequences of the fallout of the bond trading and culture scandal as he defended the bank’s actions.
Maggie Beer Holdings caps disastrous year as it slumps to $28m loss
The gourmet food producer has lost its chief executive and chief financial officer in the past month, and has written down the value of several divisions.
CBA’s chief economist says farewell with a prediction about the future
Stephen Halmarick spent four years advising the country’s largest bank and its customers on what’s going to happen next. Now he’s making his own plans.
A trip to Europe tops a new fridge, says Harvey Norman chairman
Gerry Harvey says households without a mortgage would rather travel than upgrade kitchen appliances, with the retailer reporting a 35 per cent drop in profit.
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Markets
ASX investors flood back as earnings season soothes market panic
Strong dividends and signs that consumers were still spending fuelled a recovery from a shock sell-off this month, with the ASX 200 back near record highs.
Fed’s preferred inflation gauge holds steady in July
The personal consumption expenditures index showed that yearly inflation was 2.5 per cent, another sign that price pressures continue to moderate.
Hopes for 2024 cuts weaken as data signals RBA stuck on hold
Australian inflation and retail sales data are not sufficient to warrant an interest rate cut by the Reserve Bank this year, warned strategists.
ASX climbs as Downer jumps 17pc; Ramsay, Harvey Norman fall
Shares rise at the closing bell; Downer EDI swings to profit; Star given last chance to turn around Sydney casino culture; Ramsay Health Care shares slump; July retail sales flat. 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.
Opinion
At CFMEU protests, the most important group didn’t turn up
The average trade union member these days is not a big beefy bloke in a hard hat and black T-shirt, but a 46-year-old female nurse.
Political editor
Business must speak up and push back on populism
Matt Comyn was right to challenge the fact-free rhetoric that is debasing Australia’s politics.
Editorial
Why Paul Keating is furious with Jim Chalmers
For the first time, the former Labor leader is slamming the Albanese government on economics rather than AUKUS. It’s all about the politics of aspiration.
Editor-at-large
Greens, Coalition set the pace on a hapless government
Anthony Albanese’s Labor has been left as piggy-in-the-middle, trying to catch a ball being thrown by the opposition parties.
Columnist
Beware the threat of reaccelerating inflation in 2025
It is awfully hard beating inflation out of the system without a real recession. Most soft landings have ended up triggering even higher interest rates.
Columnist
Labor should invest in demonising Bandt as well as Dutton
The government wants us to believe Peter Dutton is dangerous and divisive. It might need to focus on the leader of the Greens as well.
Political 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
- Exclusive
- CFMEU
Setka’s wild rant at unions, the ACTU, Albanese and more
Former CFMEU boss John Setka has hit out at Prime Minister Anthony Albanese, Labor ministers, the ACTU and others in an expletive-laden rant.
- Exclusive
- Federal election
Cost of living concerns start to moderate, but it’s still number one
Concerns have moderated for the first time in almost three years, but it leaves no room for complacency for the Albanese government as the federal election approaches.
How a plumbing time bomb is costing insurers and pushing up premiums
Insurers have warned that a rising number of claims stemming from flexible pipes bursting will lead to a rise in general insurance premiums.
Albanese backflips on sexuality census question
Prime Minister Anthony Albanese has agreed to reinstate a census question on sexual orientation, but remains under pressure to survey all gender identities.
- Exclusive
- International students
‘Irrational’: caps cut best overseas students from mix
The government’s attempt to cap new overseas students is a “train wreck” as universities struggle to understand their numbers and colleges don’t have theirs.
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World
- Opinion
- US election
Trump can still showboat his way to the White House
No modern politician knows how to make an entrance like Donald Trump, but his uncommon talent for working crowds has to overcome his ability to alienate half the electorate.
Italy considers hefty tax on visitors after over-tourism backlash
The government proposes a levy of up €25 a night for the most expensive hotel rooms to help cash-strapped cities.
Telegram’s Durov built a haven for free speech – and child predators
The Russian-born billionaire’s indictment in France has drawn outrage from supporters. But his platform hosts some of the vilest stuff on the internet.
J.D. Vance urges billionaire Peter Thiel to bankroll Trump bid
The Republican vice-presidential nominee also said big technology companies like Google ought to be broken up to promote innovation.
- Opinion
- Russia-Ukraine war
Forget Putin’s red line. It’s time to unleash the big guns
Volodymyr Zelensky this week begged the US to lift restrictions on firing precision-guided ballistic missiles deep into Russia. Washington fears a nuclear war.
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.
Bleak outlook for commercial property: NAB
Sentiment and confidence waned in all states bar Western Australia with Victoria the clear under-performer in all sectors, according to an industry survey.
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.
Weekender dreaming: It’s a great time to buy a holiday home
Listings for popular getaway destinations are at their highest in five years, while demand has fallen, making now a good time to look for a holiday home.
- 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.
Wealth
The super funds failing to perform
For the first time, all default MySuper options passed the APRA performance test, but big retail funds continue to underperform.
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.
Technology
- Analysis
- The Breakdown
Why Nvidia, Apple and OpenAI need to strike a big deal
Microsoft has long been a major investor in the ChatGPT maker, now the two biggest companies in the world look like jumping on board, and OpenAI needs them.
Apple, Nvidia in talks to invest in OpenAI valuing it at $147b
The technology giants would join a multibillion-dollar funding round alongside Microsoft and Thrive Capital that would value the start-up at $147 billion.
- 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?
Work & Careers
The directors under 50 making their mark on top ASX boards
BOSS talks to five directors under the age of 50 about their careers and the experience they bring to the boards on which they serve.
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.
Life & Luxury
Comeback kid wins swimming gold on day one
Swimmer Tom Gallagher has delivered the first gold medal of his career and Australia’s first of the 2024 Paris Paralympics.
Opera Australia artistic director gone amid rift with boss
Australia’s largest performing arts company is in turmoil, with Jo Davies resigning after just nine months in the role amid a split with CEO Fiona Allan.
11 things that are making you old before your time
You can avoid the pitfalls of ageing by befriending the young, tackling stairs, cutting back on your pill intake – and more.
Up your negroni game with these essential new vermouths
The last time vermouth was trendy, it was the 1970s and Cinzano was all the rage. But now it’s back and it’s come a long way.
Rodd & Gunn’s winning formula: Make him a little younger, still rugged
Having successfully expanded in the US, the Queenstown-based menswear brand expects to double revenues in a year.
