- Opinion
- Chanticleer
How this private equity pioneer won over Australia’s rich
In a few short years, Pacific Equity Partners’ funds under management from private wealth has surged to $2 billion. Co-founder Tim Sims sees plenty more coming.
- Exclusive
- Interest rates
Surprise spending blowout hits $70b
Treasury may have underestimated a state and federal government budget spending splurge by $70 billion that a string of economists warn will add to inflation.
- Opinion
- Australian economy
Chalmers dumps his fiscal profligacy onto the RBA
The government has its foot on the spending pedal while the Reserve Bank tries standing on the brakes. There is no sign of the co-ordination that has been called for, writes Michael Stutchbury.
Top bureaucrat breached code of conduct 12 times during robo-debt
A review has found 12 public servants, including department secretary Kathryn Campbell, breached the public service code of conduct 97 times during the notorious debt recovery scheme.
- Live
- Markets Live
ASX rises as gold resets record high; Namoi Cotton jumps
Shares lift; Olam Agri lifts Namoi bid to 75¢; Atlas fights over French tax; gold hits record high; oil rebounds; bitcoin retakes $US58,000. Follow updates here.
- Live
- Need to Know
Melbourne Airport boss promises third runway ‘noise sharing’ plan
Lori Argus says the third runway is critical for performance; Iconic brand retains top spot as Australia’s most trusted; Official appointed to clean up Setka’s CFMEU branch quits abruptly. Follow live updates.
- Opinion
- Chanticleer
Housing is eating the economy in countless ways
Australia’s housing woes are causing policymakers, investors and households to make decisions they might not ordinarily make. But to fix it, we need to escape a vicious cycle.
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
review
- Opinion
- US Votes 2024
Five reasons Trump could still win (and Harris blows it)
It’s always misleading to follow election news day to day. Elections are driven by a few core realities and if Donald Trump wins in November, it will be due to these five drivers of support for Trumpism.
‘Snake oil’: Don’t believe the artificial intelligence hype
Misleading claims about the capabilities of AI are rampant, and the technology is already causing serious harm from hiring to education, medicine and hiring, write two computer scientists in this extract of their new book, AI Snake Oil.
- Opinion
- Australian economy
Economists have lost their power. Here’s how to fix it
Economists can be a necessary “pain in the arse” in public debates. But policymakers have stopped listening, and the influence of the profession depends on providing practical advice.
- Opinion
- Gender equality
As the Taliban silences Afghan women, we must raise our voices
Since 2021, the world has stood by and watched as the basic rights of women in Afghanistan have been dismantled.
How Shein’s shadowy CEO staged a staggering takeover of retail
A Chinese-founded company selling questionably sourced clothes can thrive thanks to the perpetually unsated consumer.
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
Companies
- Investigation
- Insolvency
The Beverly Hills wannabes and the betrayal of Ballarat
The collapse of a small-town gold mine has revealed how millions of dollars flowed to a network of Chinese businessmen. Now liquidators want the money back.
Corporate Australia mourns former BT boss Rob Ferguson
His Bankers Trust colleague Chris Corrigan remembered him as “an individual thinker with an inquiring mind, who never lost his curiosity about how the world works”.
- Exclusive
- Bonds
ANZ boss dismisses trading floor scandal as ‘conspiracy theory’
Shayne Elliott told staff issues within the trading team were unrelated, blaming the media for conflating them.
Nine farewells Mike Sneesby after three years and $3b share price slide
His legacy is likely to be remembered in two parts: what he did do at Stan, and what he didn’t do when he took charge of the publishing and broadcasting giant.
Renewables record tumbles but may be close to pause
Renewables’ share of generation hit a fresh record on Monday, but with coal plants having to run at minimum levels it may be near a temporary limit.
- Exclusive
- Insolvency
Rex accused of stealing planes from Arizona aircraft graveyard
The lawsuit, filed by American leasing company Jet Midwest, adds a twist to the regional carrier’s tortured demise. Rex entered administration in July.
- Exclusive
- Health insurance
Healthscope forces big insurers to cough up to repair its profits
Medibank Private, NIB and HCF have agreed to out-of-cycle funding payments in the “tens of millions of dollars” for the Brookfield-owned hospital group.
Companies in the News
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Markets
Putin’s ‘jawboning’ of the West with uranium threat unleashes rally
Commodity markets have been rocked after the Russian president suggested limiting metal exports, but pundits are divided on whether he will follow through.
What happened overnight? Nvidia helped extend a tech rebound
Australian shares were set to open higher. Nasdaq paced an advance in all three US benchmarks. Oil rebounded. Bitcoin retook $US58,000.
ECB cuts rates again as economy stumbles
The ECB is getting more confident that consumer-price growth is returning to target following its historic spike.
Here’s a stock that’s doubled in value and has further to run
Tura Capital’s Oliver Attwater says there are huge returns to be made in global small and mid-cap stocks – if you know where to look. Like in appliances and commercial kitchens.
Fundies ring the bell on lithium prices after protracted rout
The rebound in ASX lithium stocks extended into Thursday’s session, with traders scrambling to reposition for further gains in prices for producers.
Opinion
Why is APRA trying to blow up the hybrid market?
The prudential watchdog wants to boost bank leverage and raise the risks depositors and taxpayers face in the name of ameliorating its regulatory complexity.
Columnist
Dutton’s strategic reset targets treasurer and the teals
The latest moves are emblematic of a broader offensive buoyed by polls that suggest a very slim possibility of winning enough seats to negotiate minority government.
Political editor
The EPA is a dead end for Labor
The Coalition will almost certainly not agree to pass the bill next week, even if there are further negotiations and minor concessions from Labor.
Columnist
Finally, politicians reach a reform deal worthy of the title
Bipartisanship and reform, two rarities these days, have combined in the shape of the age care funding changes.
Political editor
Stop taking our mining good fortune for granted
There is a danger of not only bashing the mining industry, but in treating new minerals as the “next big thing” while overlooking legacy conventional mining.
Editorial
Record weeks for renewables blow up Dutton’s nuclear con
The record high of low-cost wind and solar in the grid comes as we are still waiting for the costing on the Coalition’s plan to nationalise the eye-watering cost of seven nuclear plants.
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
Dutton prevails in NSW Liberal Party takeover bid
Former state MP Peta Seaton will join a three-member panel charged with cleaning up the dysfunctional division, in a win for the federal opposition leader.
Aged care overhaul to push more cost onto self-funded retirees
A “user pays” overhaul of aged care funding will come into effect from July 1 next year, after agreement between the government and opposition.
- Explainer
- Aged care
All your questions about the aged care overhaul answered
The first thing to know is that how aged care is funded remains very complex. We’ll do our best to break it down.
Official appointed to clean up Setka’s CFMEU branch quits abruptly
Grahame McCulloch, the founding general secretary of the tertiary education union, has quit his role in cleaning up the Victorian CFMEU.
Melbourne Airport cleared for third runway, sparking noise debates
Airport noise has become a growing concern in most major capitals, and the southern capital is tipped to be no exception.
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World
Trump rules out another debate as Harris hauls in the cash
The former president also defended his defensive performance in this week’s televised face-off with his Democratic rival that polled viewers said he lost.
Russia launches major counteroffensive in Kursk
Moscow said its forces had recaptured 10 settlements in the area where Ukraine had launched a daring incursion on August 6.
Billionaire goes from poverty to world’s first private spacewalk
Jared Isaacman planted the seeds of payments company Shift4 in his parents’ basement and used to scrounge for pizza dollars. But at 41, he’s just made history.
US hints at allowing Ukraine to strike deeper into Russia
Top US and UK officials announce nearly $2.2 billion in aid to Ukraine, as Secretary of State Antony Blinken says long-range missiles would soon be on the agenda.
Putin’s propaganda queen admits covertly working to get Trump elected
While the Kremlin has denied US claims of meddling in the election, Margarita Simonyan proudly admits her work is at the behest of the Russian government.
Property
- Exclusive
- Property investment
Melbourne is ‘dead’, says property mogul
Nigel Satterley, Australia’s biggest private residential land developer, dismissed fears the good times are over for Perth’s property market.
- Exclusive
- Construction
Up to 10,500 homes in NSW being built by ‘risky players’
Former NSW building commissioner David Chandler says the regulator, which initially focused on apartments, is only now getting to grips with detached home building.
- Exclusive
- Luxury property
Sydney suburb breaks $6m record with Palm Springs-inspired house
The record sum in the Sydney inner west suburb was paid for an old-meets-new designer home. The price was good news for the prime minister, who has just listed his nearby investment townhouse.
Does anyone want a park in the middle of Park Avenue?
More green space is generally welcomed in New York – but not everyone is convinced a park in the middle of a busy street is a good idea.
Deloitte monitors staff logging in from overseas
Businesses that offered flexible “work from anywhere” perks after the pandemic now struggle to keep a lid on workers who relocate around the globe.
Wealth
An Australian billionaire paid $45,000 for these sneakers
Sneakers, handbags, watches, number plates, sports cars. If you like nice things, and to signal your success to the world, there are clever ways to invest to ensure your assets keep gaining value.
Where to invest as bank hybrids disappear
Investors have enjoyed juicy yields on bank hybrids but will need to find alternatives after APRA announced the securities would be phased out by 2032.
- Opinion
- SMSFs
What happens to your super after you die comes down to this choice
Your money can go to your beneficiary either as a regular pension payment or as a lump sum death benefit.
Technology
OpenAI in fundraising talks that would value it at $225b
The ChatGPT maker is in talks with investors including Apple, Microsoft and Nvidia to raise $US6.5 billion, as the artificial intelligence race continues.
Inside the AirTrunk deal: how to build a $24b business in nine years
This week on The Fin podcast, Paul Smith and Anthony Macdonald on whether Robin Khuda can grow a $100 billion business and what might get in his way.
- Analysis
- Tech crackdown
‘Daylight robbery:’ Canberra needs EU muscle to land big tech blow
The government wants to work cooperatively with tech moguls such as Meta’s Mark Zuckerberg, but that seems like wishful thinking, and tougher laws are coming.
Work & Careers
Degree-free accountants risk undermining profession, unis warn
A proposal to let school-leavers with no degree become chartered accountants risks tarnishing the profession’s reputation, warn leading accounting professors.
Meet the lithium high-climber taking on the short sellers
Pilbara Minerals CEO Dale Henderson thrives on a challenge and hard work, and is willing to tackle everything from Chinese lithium buyers to Himalayan mountains.
Life & Luxury
Spring to it with a beaded butterfly bag and other fresh treats
Splash out or spend wisely – but whatever you do, it’s time to embrace the new season with style upgrades for your wardrobe, your home, and your wrist.
Interior design maestro pays tribute to his famous colour muse
David Flack was inspired by abstract painter Sydney Ball as a schoolboy; now he is curating an exhibition of the late artist’s work.
Happy lawyers are better ones: Firm provides unique ways to decompress
Attwood Marshall’s location next to Snapper Rocks means lawyers can catch waves to decompress from the stresses of legal work.
The beauty of a road trip through the vast American southwest
World-changing history, ancient culture and spectacular landscapes are all part of the New Mexico and Arizona experience. Pull on your hiking boots.
A devilishly perfect place to get away from it all
Bury the hatchet or try your hand at outdoor pursuits like horse riding, fly fishing or cross-country skiing at this luxurious Rocky Mountains ranch in Colorado.
