Albanese backs in Chalmers over RBA rates stoush
Dr Chalmers said at the weekend that global uncertainty and rate rises were “smashing the economy”. The opposition has accused Labor of trying to blame others for its failures.
Wild winds blow up solar farm profits
Almost 80 per cent of NSW solar farm output was turned off on Sunday to avoid losses as prices plunged due to oversupply amid plentiful rooftop solar and wind power.
Macquarie’s $1.9b mortgage assault pushes big four
The nation’s largest lenders are ready to ramp up competition for home borrowers.
Here’s why REIT valuations may have finally bottomed
Morgan Stanley says cap rates for industrial and retail properties have peaked, signalling a buying opportunity for investors. Office towers may have further to lose.
- Updated
- Gaming & wagering
Sceptical NSW poised to reject Star’s pleas for tax relief
But the Queensland government appears open to allowing the embattled casino operator to push back the tax debt that it owes, to give it breathing room.
- Opinion
- Chanticleer
History says REA’s $9b UK bet is a risk. But here’s why it can work
Local investors have been repeatedly burnt by big Australian companies trying to go offshore. But there are sound strategic reasons why REA can defy history.
CBA mandates Gresham to sell ultra-high-net-worth advice business
Sources say the advisory firm has begun mailing out marketing materials to prospective buyers.
- Driving With Tony Davis
- Motoring
Carmakers mine their archives to bring missing models to life
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
REA eyes global transformation with $9b Rightmove purchase
The News Corp-backed real estate platform confirmed it was interested in buying the largest property portal in the United Kingdom. Investors are unconvinced.
- Opinion
- Chanticleer
History says REA’s $9b UK bet is a risk. But here’s why it can work
Local investors have been repeatedly burnt by big Australian companies trying to go offshore. But there are sound strategic reasons why REA can defy history.
Canva triples prices citing the need to pay for new AI design tools
The increase in the cost of its popular software ahead of an IPO may lead some smaller customers to abandon the company for cheaper rivals, analysts warn.
Autobarn owner’s new chief winds down McKinsey plan
The Better Than Before program resulted in an “unacceptable” profit decline, as analysts suggested any new bid needed to be above $6 per share.
- Exclusive
- Casinos
Star asks lenders for relief and money to secure financial future
The struggling casino giant has also asked for temporary tax relief from the NSW and Queensland governments as it prepares to resume trading on Monday.
- Exclusive
- Healthcare
Health Department review finds private hospitals ‘uninvestable’
The preliminary findings, which have not been made public, come as Labor MPs grow concerned that the government is failing to fix a crisis in the system.
Vegan chain collapses amid lack of appetite, Rich Lister dispute
Flave, started by Stuart and Samantha Cook in 2020, wanted to bring plant-based meat to the masses with a chain of vegan restaurants, but it struggled to attract customers.
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Markets
Consumer slowdown hits profits and GDP growth
Growth in profits and wages is slowing sharply across consumer-facing sectors such as retail and construction, raising expectations for sluggish June GDP figures.
Hybrids make stealthy return in Scentre vision
A $750 million hybrid security issue entertained by Scentre may encourage more corporations to turn to the Australian debt market to bolster their balance sheets.
When bigger is not better: meet the fundies going it alone
As the investment giants grapple with rising costs and dwindling assets, there’s a band of ultra boutique firms that have sprung up and are making waves.
‘Winner takes all’ cycle dashes hopes of ASX small-cap revival
Blue-chip stocks asserted their dominance throughout the August reporting period, but analysts warn that has left valuations stretched.
- Exclusive
- Interest rates
Inflation could become entrenched, ex-RBA research boss warns
The central bank’s former top researcher, John Simon, says the decision not to raise rates further has not been adequately scrutinised by the board.
Opinion
Is Anthony Albanese fated to lead the last majority government?
Labor may not hold off the Greens, and the Coalition may not recapture the seats it lost to the teals. Another marriage of convenience may beckon.
Former Labor adviser
Why has a long-term understanding with Asia eluded us?
Even as Australia has become more multicultural, the best we can manage is a pragmatic relationship punctuated with fits of enthusiasm.
International editor
Why Albanese is talking big in WA
The Albanese cabinet is trying to prop up its electoral standing in Western Australia with the promise of new jobs and economic opportunities. The resources sector is highly sceptical of Labor’s agenda.
Columnist
Raising the bar against mergers will rob everyone of benefits
Why clamp down on mergers with less than maximum benefits when the public would still gain from seeing them go through?
BCA chief executive
Genuine bipartisanship is needed on the RBA dual board plan
The question now is what Labor and the Coalition are prepared to do to ensure those best qualified are in the room when monetary policy is being set.
Editorial
The case for making childcare costs tax deductable
Government contributions will again increase demand without boosting supply. No wonder fees keep rising.
Economics professor
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
Student caps about education quality, not houses: Labor
Assistant Immigration Minister Matt Thistlethwaite said the changes were not about easing housing pressures, but instead about maintaining quality in higher education.
WA calls for urgent action on private health funding crisis
The WA government says the nation’s private healthcare system needs immediate reforms, with the state’s health minister lamenting fundamental problems in the sector.
Dozens of flights cancelled as 100,000 residents without power
At least 26 domestic flights departing from Sydney Airport have been cancelled as residents in three states battle major power outages.
Reynolds picked wrong target in Higgins defamation suit
Brittany Higgins’ barrister said she spoke out about her alleged rape in parliament to ensure nobody experienced a similar ordeal, not to traumatise her former boss.
AUKUS jobs and Korean carbon planned for Labor’s big week in WA
Anthony Albanese’s bid to woo Western Australia includes a cabinet meeting and a swathe of events and announcements throughout the week.
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World
US to present Israel-Gaza ceasefire ultimatum soon
The US has been talking to Egypt and Qatar about the contours of a final “take it or leave it” deal that it plans to present to the parties in the coming weeks.
China’s sputtering growth engines raise urgency for stimulus
Factory activity contracted for a fourth straight month in August, according to an official poll of manufacturers.
Israel braced for industrial action as ceasefire pressure grows
Hundreds of thousands of Israelis demonstrated in cities around the nation on Sunday, in what appeared to be the largest protests since the October 7 attacks.
Scholz alliance humbled as populists surge in regional votes
With a year to go until Germany’s national election, the results are punishing for Olaf Scholz’s federal coalition.
Israel finds bodies of six more ‘brutally murdered’ hostages
Israel’s military says the hostages were executed just before soldiers arrived in a tunnel under Rafah. President Joe Biden said Hamas will “pay for these crimes”.
Property
The ultrarich are buying up big, and using shell companies to hide it
Across the country, the wealthy are increasingly creating schemes to shield real estate transactions from view. And with it, creating a whole new industry.
Adelaide, Perth overtake Melbourne home values
The shift in ranking was partly compositional, but it also reflected Melbourne’s deepening downturn.
- Exclusive
- Housing crisis
Lose ‘wedding cake’ look and build more flats: architects
Top architects including Nightingale boss Dan McKenna, Kerstin Thompson and Andrew Maynard say Victoria’s housing crisis means planning priorities must change.
One-bathroom house beats reserve by $1m
Analysts say mortgage stress is one of the likely reasons more houses are being offered for auction, and warn it could lead to prices stalling or even falling in some places.
- Exclusive
- Construction
Pay deals keep tradies in line with Big Mac index, but teachers lag
Annual wage growth close to 5 per cent for the past two decades has put CFMEU construction workers ahead of other employees, new earnings analysis shows.
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
Why ex-Google chief Eric Schmidt warns we may have to pull plug on AI
The former Google chief executive and chairman said Western democracies had to regain lost ground in industrial policy to counter China.
Farquhar’s Atlassian era passes without a grand farewell
Co-founders Scott Farquhar and Mike Cannon-Brookes spent their final day of as co-CEOs working from home. Venture capitalists say Farquhar’s influence goes beyond Atlassian.
The streaming service reeling in Netflix in Australia
Amazon Prime Video is closing the gap on the nation’s most popular entertainment platform, all while more Australians are downgrading to ad-supported plans.
Work & Careers
How to sue your boss for getting fired, even if you earn $175,000-plus
If you’re paid more than that amount a year and aren’t covered by an award, you can’t bring an unfair dismissal claim. But that doesn’t mean you can’t act.
- Opinion
- Pay
The allure of the loud know-nothing
Do huge entry-level salaries encourage the selection of assertive, confident, forceful people rather than quieter, shyer rivals who are more competent?
Life & Luxury
An edgy Hollywood hotel brand makes its Australian debut
It may have its origins in Los Angeles, but The StandardX has embraced the gritty hipness of its new location in Fitzroy, Melbourne.
Running a marathon with the big five. At least that was the plan
Riots ended the promise of an extraordinary experience in a Kenyan game reserve. And while some thrilling safaris made up for any disappointment, there’s always next year.
Ozempic reduces risk of heart failure by 27pc: study
Scientists don’t yet know why. But the findings are important given that heart disease is the leading cause of death globally and in Australia.
Need to get away? From pyramids to private islands, try these offers
Jump on these deals for spontaneous getaways this month and holidays on the horizon. You’ll be glad you did.
- Driving With Tony Davis
- Motoring
Carmakers mine their archives to bring missing models to life
There might seem no reason to build a 1930s streetcar that never made it into production. But these extraordinary cars are not for your average driver.
