The three headaches of Rupert Murdoch in his battle for control
A bombshell lawsuit between Rupert, Lachlan and his other children begins in Reno, Nevada, next week. Meanwhile, shareholders want change and Foxtel’s for sale.
- Live
- Markets Live
ASX to edge up; oil slumps, Rightmove knocks back REA Group’s $11b bid
Australian shares are set to rise 8 points higher. Techs paced gains in New York. ASX gets new chairman. Follow for more
- Live
- Need to Know
Public Facebook data used to train Meta’s AI
Executives from Meta have confirmed long-term data use; Anti-war activists disrupt Melbourne weapons expo; Adam Bandt unclear on whether he supports Labor’s RBA reform legislation. Follow live updates.
Harris v Trump: Five things to watch for in the presidential debate
The first face-to-face meeting could shift the dial on a very close contest, with the vice president’s lead in the polls having narrowed slightly in recent days.
Greens demand RBA keeps power over how banks lend
The minor party wants to retain laws that allow the central bank governor to tell banks how to lend money and that give the government a veto over interest rate decisions
King Charles to spotlight climate change during Australian visit
King Charles, who has undergone cancer treatment, and Queen Camilla will arrive in October.
- Opinion
- Chanticleer
The property hotspots attracting the world’s biggest investors
Higher for longer rates means the easy money is property is gone. It’s time for investors to roll up their sleeves.
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
PROPERTY SUMMIT
Angry about the lack of new home builds? Here’s what’s to blame
The state’s Productivity Commission has urged state and federal governments to stop spending so much money on public works to free up the construction industry.
Offices are back – except if they’re out in the suburbs
The country’s most experienced real estate executives and investors warn that low-grade towers are unlikely to ever recover from the COVID-19 pandemic.
Property investors lash Labor’s plan to cut international students
The federal government intends to reduce the number of overseas admissions by 30 per cent, which the real estate sector says is short-sighted.
Morgan Stanley’s Tim Church awaits real estate M&A’s ‘big thaw’
The investment bank’s veteran real estate operator says expectations of impending interest rate cuts and a desire to deploy capital is getting deals going.
Power crisis is as big as Australia’s housing crisis: Charter Hall
The lack of reliable energy is already hitting industrial property assets and will hit harder as investment ramps up in data centres, the industry warns.
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
Companies
- Exclusive
- Earnings season
Country Road goes cheaper at Mimco, Politix in brand ‘reset’
The high-profile retailer will also launch its first fragrance as part of the overhaul, part of a bid to arrest a slide in sales after a difficult year.
- Analysis
- Hybrids
Why APRA will kill off bank hybrids for good
Australian bank hybrids have been a popular and reliable source of income for investors. But APRA says their time has come.
APRA calls time on $43b bank hybrid capital era
The prudential regulator said bank hybrid securities would not work as intended during times of crisis.
MinRes slashes worker conditions as it pockets $1.1b from asset sale
FIRB approval clears way for MinRes to sell down its stake in Onslow Iron haul road as it cuts costs with big changes to worker rosters.
ATO labels Mighty Craft payout a ‘token’
The Tax Office wanted administrators of collapsed drinks group Mighty Craft to pursue a better deal than one where unsecured creditors get less than 1¢ in the dollar.
Global Lithium directors quit board averting fiery vote
Global Lithium directors Greg Lilleyman and Hayley Lawrance will resign as non-executive directors ahead of a contested shareholder vote to oust them.
- Exclusive
- Education
Richard White’s Grok Academy in disarray, sacks dozens of staff
The company was founded in 2013 and charged a subscription for its computer skills courses. It pivoted to free classes with funding from the billionaire.
Companies in the News
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View stories and data from an ASX listed company
Markets
The stocks investors are watching during the Trump-Harris debate
The showdown could also stir up bonds and currencies, especially at a time when volatility is already on the rise.
Brent oil tumbles below $US70 as oversupply fears deepen rout
The global benchmark briefly shed more than 4 per cent in New York, with US crude plunging more than 4.5 per cent.
What happened overnight? A tech rebound offset Wall Street bank woes
Australian futures reversed earlier losses. Oracle rallied on its results, lifting the Nasdaq and S&P 500. Oil plunged anew. US August CPI was pending.
JPMorgan leads bank-stock slump after tempering revenue optimism
Shares in the Wall Street giant fell after its president said analysts were being too optimistic, adding to a more pessimistic outlook for the biggest US banks.
Why Macquarie bought a million dollars of Trump’s social media stock
It becomes the first institution domiciled in Australia to publicly disclose a position in the social media company majority-owned by Donald Trump.
Opinion
Why Australia’s miners are so alarmed by Albanese
The powerhouse industry is aghast at the government’s policies on industrial relations and environmental changes and has broken diplomatic cover to say so.
Columnist
Ill-disciplined politics cruel central bank and aviation reform
Australia’s economic debate is not going well. The conversations need to be better than those of the last few weeks.
Editorial
We will all pay the price for RBA board reform failure
More expertise on the central bank’s board could help avoid an unfortunate repeat of Philip Lowe’s pandemic-era guidance that interest rates were not expected to rise until 2024.
Economics editor
Unlike the original Dr Jim C, Chalmers has no excuse
Failing to learn from past policy mistakes is far, far worse than making them in the first place.
Economist
Banning kids could give social media giants an easy out from regulation
Big tech certainly acts like big tobacco, but anti-smoking style bans to protect young people are not enough to regulate the harms associated with digital platforms.
Tech executive
Labor’s derailing the mining engine of Australia’s economic growth
The McPhillamys gold mine cancellation highlights the disconnect between the government’s agenda and the real world confronting the Australian resources sector.
Corporate advisor
Reports
Clean Energy - the bumpy transition
This special report looks at how Australia is tracking to meet net zero goals, and the new technology that can help us get there.
Politics
Greens demand RBA keeps power over how banks lend
The minor party wants to retain laws that allow the central bank governor to tell banks how to lend money and that give the government a veto over interest rate decisions
King Charles to spotlight climate change during Australian visit
King Charles, who has undergone cancer treatment, and Queen Camilla will arrive in October.
‘Best friend’ Dutton promises miners he’ll target IR, green tape
Peter Dutton will promise to be the best friend that the mining and resources sector in Australia will ever have.
King to foreigners: start digging for critical minerals
Industrialised countries including Australia will be more interventionist in directing investment to strategic resources projects to break China’s stranglehold.
Labor questions Dutton’s goodwill as aged care impasse drags on
Frustrations within the federal government are starting to boil over after the Coalition again delayed finalising the agreement on reforms.
SPONSORED
World
Who are the biggest donors to Trump and Harris?
In presidential politics, campaigns are powered by billionaires. Here is a look at the most influential givers.
Harris under poll pressure ahead of crucial debate
The debate will subject Kamala Harris, who has sat for only a single formal interview in the past six weeks, to a rare moment of sustained questioning.
Google and Apple face billions in penalties after losing EU appeals
The decisions, handed down by the Court of Justice of the European Union, were seen as an important test of efforts to clamp down on the world’s largest technology companies.
Massive Ukrainian drone strike on Russia kills one and closes airports
Russia said it destroyed at least 20 drones over the Moscow region, which has a population of over 21 million, and 124 over eight other regions.
PwC to parachute in UK partner to run scandal-hit China business
The accounting firm’s global leaders have tapped Hemione Hudson, a runner-up in the race to lead PwC UK earlier this year, to lead the China operation.
Property
- Updated
- Construction
Developers warn creeping costs making all but luxury homes difficult
Some of the country’s largest builders say they are pivoting towards properties for older downsizers and wealthy baby boomers to make the margins they need.
Morgan Stanley’s Tim Church awaits real estate M&A’s ‘big thaw’
The investment bank’s veteran real estate operator says expectations of impending interest rate cuts and a desire to deploy capital is getting deals going.
- Exclusive
- Housing crisis
NSW declares it is not done on reforms to ease housing shortage
The state has already made significant changes allowing more dense developments. Now it wants to cut out complicated and often conflicting approvals processes.
Union redundancy fund war heats up
A major NSW fund has blocked members from transferring their money to the John Setka-backed Incolink fund in a fight to control billions of dollars in the unregulated sector.
What does a ‘higher-for-longer’ world mean for the property sector?
The Property Summit gathers the industry’s most influential leaders, investors, commentators and disruptors to discuss the trends, threats and opportunities in commercial and residential sectors.
Wealth
- Opinion
- Trusts
The blueprint for Aussie wealth creation may no longer apply
For the past 30 years, creating and preserving wealth has followed a predictable pattern. But things have shifted, perhaps irrevocably.
- Opinion
- ETFs
As term deposit rates fall, there’s another option for savers
Cash and money market ETFs allow investors to generate comparable returns to term deposits, but with greater access to ready liquidity.
- Opinion
- Investing
Why humans make terrible investors
Cashing out during a period of volatility is usually harmful to your wealth.
Technology
iPhone 16 faces challenge from Huawei’s $4220 triple fold phone
The Chinese company unveiled its world-first innovation, which fits a 10-inch tablet in a pocket, just hours after Apple revealed its latest handset.
Meet the iPhone 16 – and all its new features
Apple’s latest mobile will also be getting a camera button that lets you take photos without ever touching the screen.
NextDC raises $750m for Asia land grab, racing AirTrunk
NextDC is cashing in on investors’ exuberance for data centres, raising $750 million to ride the euphoric mood set by its rival AirTrunk’s $24 billion deal.
Work & Careers
Why doubling down on KPIs could hurt your bottom line
Many employers are trying to drive performance to boost the bottom line by doubling down on KPIs and bonuses. There is a better way.
How a CEO undermined his chosen successor and returned to power
When Disney’s Bob Iger stepped down as CEO, he stayed on as “creative director” and executive chair – to the ultimate dismay and downfall of his successor, Bob Chapek.
Life & Luxury
- Driving With Tony Davis
- Motoring
This $500k-plus supercar is built to be driven off-road
The Sterrato is an oddball but rugged variant of a Lamborghini famous for being so low-slung you need to hit a “nose-lifter” button to clear even a modest driveway.
Swans high means SCG members struggle to get tickets
Sydney Swans’ performance and the growing popularity of AFL in the northern states had thousands flocking to the SCG’s famous stands. The success comes with a catch.
Why bite-sized snacks are the ultimate restaurant experience
Full of exciting flavours, the smallest items on the menu are packing the biggest punch.
- Drinks With Max Allen
- Wine & spirits
There’s a track winding back to new beers outback
You’d never say no to a refreshing brew in the heat of the Australian bush, especially when it’s a new premium lager from Australia’s top-selling brand.
Man with the most recognisable voice in movies dies
James Earl Jones gave life to characters such as Darth Vader in “Star Wars” and Mufasa in “The Lion King”. He went on to earn Emmys and an honorary Oscar.
