How investors should play the first rate cut
Australian market participants are all-in on the immaculate soft landing narrative. But history says they need to tread carefully as interest rates come down.
Impatient Myer investors dump shares with questions over strategy
The mid-market department store was expected to outline its growth plans next month. That has been delayed as it considers buying up well-known fashion brands.
- Opinion
- Chanticleer
The great ‘unbossing’? Economic reality collides with WFH and AI
A slowing economy and shift in technological advancements are set to change the battle over the future of work again.
- Opinion
- Monetary policy
Rate cuts herald risky new regime
Financial markets have entered a dangerous new economic environment defined by unusually elevated uncertainty after the US Federal Reserve’s pivot, writes Christopher Joye.
How CrowdStrike’s outage became Australia’s big cyberattack rehearsal
Qantas chairman John Mullen got the “blue screen of death” while Telstra’s cyber chief Narelle Devine was in the pool sipping cocktails when she got the call that something was seriously wrong.
- Opinion
- Childcare
Why ‘free’ childcare is bad for working parents
Further subsidies will likely require an explicit new tax rise to fund it. Billions of dollars of more debt can’t be added to the national credit card, writes John Kehoe.
Albanese to press Modi on Indian ‘nest of spies’ at Quad summit
The prime minister will hold talks with outgoing US President Joe Biden and the leaders of Japan and India during the weekend’s Quad summit.
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
review
The sad and lonely lives of the world’s richest kids
There’s a darker side to being super-wealthy, from Vladimir Putin’s two secret sons who “live in isolation” to $180,000-a-week clinics for depressed kids.
- Analysis
- Israeli-Palestinian conflict
Israel’s pager attack was months in the making
The apparent attack on Hezbollah required Israel to sabotage thousands of pagers, probably before they were even shipped to Lebanon.
How Australia crushed the COVID curve and lost the race
This country had one of the best-designed economic responses in the world, and one of the worst vaccine procurement processes.
How Hamas uses brutality to maintain power
The group has abused hostages and Palestinians in its efforts to maintain control of Gaza and wage an insurgent war.
- Opinion
- Alcohol
I took a pill to fix my drinking problem
It’s the magic drug for hard drinkers that has an 80 per cent success rate, so why is this treatment so under-prescribed?
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
Companies
- Updated
- Mining
ASX-listed lithium giant Arcadium turns its back on Australia
The company had flagged aggressively expanding domestically. Now it says it may sell its Mt Cattlin operation and will prioritise its Canadian and Argentine assets.
- Analysis
- Murdoch family case
Akin to Orwellian genius: Inside Murdochs’ Project Harmony
After a quarter-century of increasingly public bickering, today the only thing that can bring Rupert Murdoch’s family together is a court case.
Cashback promos quietly return as battle for home loans intensifies
Some of Australia’s biggest banks are once again offering upfront cash incentives to lure and retain borrowers.
- Exclusive
- Hotels
Embattled pubs owner hasn’t paid super to staff all year
Property developer Virtical, facing an investigation over $100 million in GST refunds, is now subject to complaints it has not paid superannuation to hospitality staff.
Can Olivia Wirth right the three-decade drift at Myer?
The former Qantas executive has inherited the start of a turnaround at retail’s grand dame. But there is plenty more to do, starting with finding profit growth.
WA opens narrow window for onshore gas exports
The Cook government’s revised policy may not be enough to achieve the aims of encouraging more gas exploration and development, some commentators say.
SEC accuses Macquarie of inflating asset values, issues $117m fine
The US markets regulator said Macquarie’s asset management business had “no reasonable basis” to believe it could sell at the valuations it quoted.
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Markets
The market’s most ‘contrarian play’ is high-risk, high-reward
With fund managers’ allocation to commodities at a multi-year low, traders are weighing the chance to front-run a rebound, but that involves a big bet on China.
ASX closes at all-time high, Life360 leaps
Shares scale all-time high; UBS lifts NAB, Westpac price targets; Myer cuts dividend; Regis Healthcare and Kelsian nab contracts; Namoi Cotton backs Olam Agri bid; Follow updates here.
Bank of England holds fire on rate cuts after Fed’s bazooka round
Facing less pressure from its economy or jobs market, the BoE is expected to wait until November to unleash a second interest rate cut.
What happened overnight? The S&P 500 and Dow closed at record highs
US shares leapt after the Fed rate cut bolstered hopes that the central bank had stepped forward to keep the economy on a growth path. Techs paced the rally.
Traders temper bets the RBA will follow the Fed’s rate cut
The Aussie dollar briefly topped US68¢ after the US Federal Reserve’s jumbo rate cut, but hopes of a similar move in Australia are starting to wane.
Opinion
Rate cuts herald risky new regime
Financial markets have entered a dangerous new economic environment defined by unusually elevated uncertainty after the US Federal Reserve’s pivot this week.
Columnist
Senate standoff shows politics and policy are a long way from perfect
The complexity of the housing challenge requires a level of cooperation between governments and politicians that feels a long way from the debate we are having.
Columnist
Why ‘free’ childcare is bad for working parents
Further childcare subsidies will likely require an explicit new tax rise to fund it. Billions of dollars of more debt can’t be added to the national credit card.
Economics editor
Australian rugby’s problems only look to be getting worse
The problems with Australian rugby extend far beyond the coaching box or those who wear the jersey.
International editor
Corporate Australia can’t let Albanese brush reform under the carpet
Business needs to get more on the front foot in calling out the policy and political class failure that most media coverage has normalised.
Editor-at-large
Electric vehicles hit consumer speed bumps
Energy minister Chris Bowen doesn’t think hybrids offer a real advance in the transition to electric cars. Drivers disagree, and the road to a pure EV market is bumpy.
Columnist
Reports
Executive Education - lifelong learning
This special report looks at lifelong learning, focusing on the impact and efficacy of leadership courses designed for top-tier managers and business leaders.
Politics
- Exclusive
- Workplace
‘I would not recommend ASIC’: scathing assessment by staff
The results of a confidential cultural survey make for embarrassing reading on staff motivation, satisfaction and the regulator’s leadership team.
- Exclusive
- International students
Clare tells VCs: shut up on caps or suffer the consequences
The only thing vice chancellors hate more than caps on overseas students is ministerial direction 107. Jason Clare has now handed them a tough ultimatum.
‘I failed them’: VC apologises to Jewish students
Sydney University vice chancellor Mark Scott says it should have consulted Jewish groups; PwC International took control of Australian firm’s tax leaks response. Follow live updates.
Arnold resigns as Socceroos coach, saying it’s ‘best for the nation’
Graham Arnold, Australia’s football coach, stepped down after a poor start to Asia’s third phase of World Cup qualifying.
‘Propping up a failed system’: Labor looks beyond PC on childcare
The Productivity Commission’s childcare proposal has raised questions of affordability, the removal of the activity test, and adding more subsidies onto a failed model.
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World
Biden backs Australian critical minerals miner Ioneer in Nevada
Approving the new project will significantly increase domestic lithium supply amid a push toward greater self-reliance in the critical minerals supply chain.
Has the Fed overreacted to the US economy?
The Fed’s decision meets the theoretical economic rules but there is an intuitive question about whether such a large cut was needed right now given the state of the economy.
Fresh Israel-Hezbollah strikes raise fears of regional war
Hezbollah leader Hassan Nasrallah warns that Israel has “crossed all red lines”, as sonic booms from Israeli warplanes shake buildings in Beirut.
- Exclusive
- Israeli-Palestinian conflict
Egypt envoy backs rigour of security checks for Gazan refugees
Egypt’s ambassador says his country conducts thorough security checks on Palestinians crossing from Gaza.
Harris and Oprah host star-studded rally as race tightens
Vice President Kamala Harris tried to convince less-motivated voters during a livestream with TV legend Oprah Winfrey.
Property
James Packer’s former right-hand man snaps up Fairfax family retreat
Matthew “Ched” Csidei purchases another grand Southern Highlands mansion, and northern Victorian country estate Noorilim joins the prestige market.
- Exclusive
- Property market
NSW house prices to flatline this year, valuer general says
A strong first half has pushed values up in the NSW capital, but those gains are unlikely to be repeated.
- Exclusive
- Commercial real estate
The new high-tech Australian CBD shaping up to rival Singapore
3D printing, semiconductors and advanced packaging are all part of a high-tech mix envisaged for Bradfield city planned for Sydney’s west.
London’s mansions are struggling to sell
Rich buyers have been spooked by unanswered questions around higher tax regimes and plans to do away with preferential tax treatment for wealthy foreigners.
- Opinion
- Workplace culture
Amazon unwinding WFH won’t cure productivity blues
Dropping the hammer on remote work is probably more about making life easier for managers than it is about helping workers be more productive.
Wealth
Three ways the ASX has changed and what investors can do next
Finding yield, good value and diversification on the ASX is getting harder. We asked experts what investors can do to overcome the challenges.
Can I access my super to save my business?
Using your superannuation for anything other than its intended purpose – your retirement – can be a legal minefield.
Want to invest like Warren Buffett? This chatbot promises to help
A chatbot-powered ETF promises to harness the brainpower of the investment world’s most illustrious minds.
Technology
Microsoft’s climate hypocrisy on AI
The tech giant has marketed AI technology to ExxonMobil and Chevron as a powerful tool for finding and developing new oil and gas reserves.
Cyberspies phone businesses to warn of danger but half don’t respond
The Australian Signals Directorate’s new director-general Abigail Bradshaw says there is a stigma to being attacked, but it is costly for companies.
Why John Mullen wishes he’d paid a cyber ransom
When hackers targeted Qantas chairman John Mullen’s private maritime museum, he didn’t pay the ransom out of principle.
Work & Careers
AFL more important to Khuda than data centres, Swans chairman suspects
Andrew Pridham is vice chairman of asset manager MA Financial and chairman of Sydney Swans. AirTrunk founder Robin Khuda texts him before games.
- Exclusive
- Disney
Disney chief goes retro for AFL finals to reel in streaming rivals
Disney’s Australian boss Kylie Watson-Wheeler is bringing her AFL obsession into her day job as the US giant takes on the dominant players in the local streaming wars.
Life & Luxury
How Donna Hay climbed the ladder to world stardom
Watching the cook perform her signature pasta twirl up close, one appreciates the elegantly simple approach to cooking which made her a household name.
How a law firm shaped an award-winning poet’s style
Amy Crutchfield last week won the Prime Minister’s Literary Award for Poetry, and credits her time at Mallesons for shaping her poetic style and philosophy.
This summer is going to be hot, but in a good way
Our weekly edit of beautiful things to buy ranges from the purely practical to the YOLO. In other words, there’s something for everyone.
Downton Abbey but with NDAs: how to be a butler to the super-rich
At an elite academy in the Netherlands, the archaic art of buttling is being reinvented for the 21st century.
Demi Moore gives performance of her life in shocking ‘The Substance’
There’s a self-referential note to the ’90s superstar’s role in Coralie Fargeat’s fable about ageism, making it doubly compelling.
