The search is on for the 2025 Best Places to Work.
PM yet to be convinced housing tax changes won’t hurt supply
The prime minister says Treasury is looking at ways to curb the use of negative gearing and capital gains tax, but it wasn’t his idea.
- Live
- Markets Live
ASX to rise, Dow drags Wall Street lower
Shares are set to open higher. US stocks were mostly lower. Micron results bolster AI outlook. Iron ore rises, oil eases. Follow updates here.
The 10 most covertly powerful people in Australia in 2024
Those who wield the most clout behind the scenes in the nation’s business and politics.
- Live
- Need to Know
Netanyahu says Israel will continue ‘inflicting blows on Hezbollah’
Israel says it will continue fighting until displaced citizens “can return home”; PM has “no plans” to introduce negative gearing policy before election. Follow live updates.
Raising property taxes would reduce home prices but increase rents
Curtailing negative gearing and the capital gains tax discount would slightly reduce home prices, but put upward pressure on rents, housing economists say.
KKR, Kim Jackson’s Skip Capital win $3b Queensland Airports race
Queensland Airports Limited is KKR’s first airports deal around the world.
- Opinion
- Chanticleer
Star funding deal done, now to prevent a white elephant
Star Entertainment’s directors will get over one hurdle, only to face the next. Such is the life of a casino operator in 2024.
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
POWER LIST
Why Australia’s think tanks are a growing source of covert power
These research and advocacy institutes are a growing source of covert power. But to get the funding, they need to be seen.
Australia’s 10 most powerful business leaders in 2024
The strongest voices for corporate Australia in a year when cost-of-living pressures have ripped through the most vulnerable parts of the economy.
Australia’s top five powerbrokers in the law for 2024
It was a momentous year for the High Court, the competition regulator and outspoken judges. Here are the people setting the agenda in legal circles.
The 10 most culturally powerful people in Australia
What does it mean to be Australian right now? These 10 people made the biggest mark on our national culture this year.
Power list reveals diminished influence of Australia’s corporate sector
This year’s list reflects the fading voice of CEOs and the growing size, scale and power of the superannuation sector.
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
Companies
Investors blame supermarket ‘arrogance’ for dodgy discount lawsuit
But some fund managers say a slump in Woolworths and Coles shares is a buying opportunity, betting the ACCC’s claims will be hard to stand up in court.
- Updated
- Gaming & wagering
Star Entertainment set to sign financial accounts as bailout finalised
The company – which operates casinos in Sydney, Brisbane, and the Gold Coast – has been in turmoil after it failed to lodge its accounts with the ASX.
Star’s Queen’s Wharf comes to life – unless you want to shop or eat
It’s been dubbed a “multistaged opening” or, in other words, a work in progress. But the sight of hi-vis and faint smell of sawdust haven’t deterred visitors.
RBA issues scathing assessment of ASX’s derivatives upgrade
In a lengthy review, the central bank has said the sharemarket operator was too slow in disclosing problems and suggests it was keeping regulators in the dark.
Pro Medicus’ billionaire boss says simplicity secret of success
Pro Medicus’ stranglehold on cloud-imaging healthcare tech means its growth trajectory has a long way to go.
Google to test its AI-powered search in Australia
Known as AI Overviews, the change is the biggest to the platform in years. But news publishers and e-commerce sites fear it could leave them out in the cold.
Record $12.9m greenwashing penalty puts fund managers on notice: ASIC
Federal Court fined Vanguard $12.9 million for failing to exclude certain investments against ESG criteria and instead relying on third parties.
Companies in the News
Search companies
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Markets
Ex-RBA governor Lowe joins Barrenjoey board
In February 2023 Philip Lowe found himself in hot water after accepting a lunch invite from Barrenjoey. This week he joined the start-up investment bank’s board.
What happened overnight? The Dow dragged Wall Street lower
Australian shares were set to open higher. US stocks were mostly lower. Goldman said bullish equity positioning reflected enduring US exceptionalism.
China kills ASX bank rally as money piles into miners
Traders are scrambling after China’s latest effort to boost its economy prompted investors to rapidly pull money from the big four banks and pile into the mining sector.
Bond markets too punchy on RBA rate cuts, say investors
Fund managers say traders have overblown the comments from governor Michele Bullock and are siding with the central bank on the rate outlook.
Meta stock bulls look for next rally catalyst
Meta’s annual Connect conference kicks off this week, with industry buzz around the latest technology reveal and updated by chief executive Mark Zuckerberg.
Opinion
Why Labor seems to be flirting with housing tax breaks again
The real story is that the government is desperately looking for a way out of the political dead end that has stalled any momentum in its drive to an election.
Columnist
Real tax reform could help fix the housing crisis
The political system lacks the maturity to even discuss using tax policy as a serious instrument to help solve the housing shortage.
Editorial
Beware the hidden cost of Dutton’s nuclear plan
The Coalition’s timeline will need major expansion of gas to replace sidelined renewable energy projects, which will be a huge and needless expense.
Minister for Climate Change and Energy
The answer to our housing crisis is three letters: EBA
For all the focus on the illegal activities of the CFMEU, it’s their legal activities that have played a starring role in our housing affordability crisis.
Economics professor
Government spending blowout is the size of the mining boom
Like the mining investment boom of the early 2000s, the economic shock from higher government spending will have implications for inflation, productivity and interest rates.
Economics editor
Why is Australia stuck in the slow lane on driverless cars?
Australian regulations put a far higher bar on robot drivers than human ones. That makes little sense when it’s likely that the tech is already safer.
Infrastructure and transport expert
Reports
Technology - Valuation shift
This special report looks at shifting valuations for tech companies in public and private markets, plus how AI will change work.
Politics
- Exclusive
- Energy
Bowen uses gas to fire up offensive on Coalition’s nuclear plans
Energy Minister Chris Bowen claims the Coalition’s energy plans will require spending tens of billions of dollars to build and service new gas power plants.
Electricity bills to surge 47pc next year as government support ends
The Albanese government has hinted it could extend the federal government’s $300 electricity bill rebate to avoid a sharp rise in out-of-pocket energy costs.
A quick guide to the politics of housing tax breaks
Anthony Albanese won’t be the last political leader to mull changes to negative gearing and the capital gains tax discount, and he certainly is not the first.
ADF prepares land and air capability for possible Lebanon evacuation
Foreign Minister Penny Wong has warned evacuation operations will not be able to accommodate all of the up to 30,000 Australians in the region.
Fire service chiefs’ email hacked to help union boss, inquiry finds
Union boss Peter Marshall asked staff at the Metropolitan Fire Brigade to gather sensitive information, a report by Victoria’s anti-corruption watchdog has found.
SPONSORED
World
- Analysis
- UK politics
Why Britain’s PM faces political firefights on all fronts
A combination of bad politics and unpopular policy has left Keir Starmer on the back foot. And he hasn’t even yet got a Tory opponent who can lead the attack.
- Updated
- Middle East tensions
Israel ‘preparing for ground invasion’ against Hezbollah
Army chief told troops that it is gearing up for a land incursion of Lebanon, as diplomats race to secure a ceasefire between the two sides.
Lebanon says 51 killed in latest round of Israeli strikes
The attacks are the deadliest in the country since the bruising month-long war between the Jewish state and Hezbollah in 2006.
- Exclusive
- Asia-Pacific
Japan’s new ambassador has high hopes for closer ties
In an interview, Kazuhiro Suzuki says the two countries are “indispensable” to achieving peace and prosperity in a region where the shadow of China looms large.
- Updated
- Israeli-Palestinian conflict
Hezbollah fires missile at Mossad HQ as tensions rise
The military said Hezbollah fired the missile from Lebanon, in what appeared to be the first attempted attack by the group on a target as far south as central Israel.
Property
Suburbs with million-dollar houses on the rise
More suburbs are poised to cross the million dollar median milestone in the coming months as prices continue to rise.
- Exclusive
- Office
Brookfield to sell $480m stake in tower that Cartier calls home
Singaporean property giant UOL will buy Brookfield’s half stake of 388 George Street, which will be managed by Investa once the deal is completed.
- Exclusive
- Commercial real estate
BlackRock seeds $1.5b laboratory real estate fund
BlackRock is partnering with local private equity firm Wentworth Capital on a “pure play” laboratory fund that has already secured a number of seed assets
Jose was priced out of his inner-city home. So were 16,000 others
KPMG data shows rising costs are squeezing out much-needed workers from Sydney and Melbourne’s most sought-after suburbs.
‘Paying whatever it takes’: Prestige home prices jump 20pc a year in this city
International and east coast buyers are helping fuel a price boom in Perth’s most sought after luxury coastal and riverside properties.
Wealth
The $52b side hustle economy offers a shot at getting rich
The ATO estimates there are around 1 million side hustlers, including a fast-growing group of white-collar workers who dream of going into business for themselves.
- Opinion
- SMSFs
How to get your kids more tax-free super when you die
Re-contribution strategies allow you to withdraw money from super and put it back again to minimise tax for whoever inherits it. Such strategies are making a come-back, particularly in SMSFs
- Opinion
- Cybersecurity
SMSFs are a $1 trillion honeypot for hackers
The success of the retirement savings system has become an irresistible target for global cybercriminals.
Technology
Meet the ‘actionable futurist’ who demystifies tech for the C-suite
Futurist Andrew Grill reckons execs will struggle to make good decisions about deploying tech in their businesses if they’re not actively using it themselves.
How a Caramello Koala helped catch Coles and Woolies out
As consumers’ belts tightened, price-sensitive shoppers vented their frustrations online on Reddit, TikTok and X. The ACCC, it seems, was listening.
Will AI be a bust? A Wall Street sceptic rings the alarm
Jim Covello, Goldman Sachs’ head of stock research, warns that building too much of what the world doesn’t need “typically ends badly”.
Work & Careers
How Angella went from healthcare to coder in nine months
Holberton’s course is an example of the practical training programs employers are using to fill stubborn vacancies in the face of persistent skills shortages.
Dentons CEO to fight anti-vax, antisemitism claims
Dentons chief executive Doug Stipanicev has stepped down after he was accused of ignoring bullying allegations and sending a conspiratorial report.
Life & Luxury
People don’t want ‘challenging’ music, says Peaceful Piano king
Chad Lawson writes music to improve your mental health – which has meant this stalwart of Spotify’s Peaceful Piano playlist repressing some of his own creative impulses.
Seven must-see shows this October
From a Bette Davis cabaret, to Celine Dion on the Titanic and a takeover in the Adelaide Botanic Garden, there are plenty of reasons to leave the house this month.
The perfect autumn weekend in London
It’s not called the UK’s capital of cool for nothing. Here’s in insider’s guide to how to spend 48 fun hours.
Heading to Melbourne for the footy? It might pay to book a stop-over
Brisbane fans might choose a less-than-ideal path to save a few dollars in the pilgrimage to the MCG this weekend – booking a flight via Sydney or Canberra.
$300 still life flowers into a 70-bagger
A forgotten work by a forgotten Australian artist was one of several to do well as the great financial reappreciation of women artists continued at Leonard Joel.
