The search is on for the 2025 Best Places to Work.
Super funds’ meteoric rise poses new risks to financial stability: RBA
The $3.9 trillion sector’s rapid growth and its large exposure to the banking sector could amplify shocks in the future, the central bank has warned.
Australia’s 10 most powerful people in 2024
There are three new faces on the Power list – plus some big swings in the ranking.
ASX to rise, S&P 500 boosted by materials, tech
Australian shares are set to open higher. S&P 500 resets closing record high. Iron ore tops $US100, gold, copper rally. Oil sinks on Saudi rethink.
- Live
- Need to Know
Israel strikes about 220 Hezbollah targets in 24 hours
Nearly 700 people have been killed in Lebanon since Monday as calls continue from around the world for a ceasefire. Follow live updates.
- Exclusive
- Qantas
Richard Goyder on his biggest mistake at Qantas
The recently departed Qantas chairman admits he made some mistakes but says people forget how the pandemic changed the game.
Woolworths and Coles could be ‘innocent’: Samuel
Graeme Samuel says the higher prices charged by the two major supermarkets could have been caused by suppliers, as the ACCC found the retailers have increased their earnings and operating margins over the past five years.
AFL boss warns against reform that would eradicate local bookies
In a wide-ranging interview, the AFL boss sayshe is also considering other marquee events to grow the sport.
Get our expert take on the race to the White House plus receive our weekly World View newsletter to make sense of the global impact. Exclusive to subscribers.
POWER LIST
- Edition
- Power List
AFR Magazine – Power 2024
The hotly anticipated lists of Australia’s most powerful people in 2024.
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.
Australia’s five most powerful people in education in 2024
As we hurtle to the end of the year, there are a lot of balls still up in the air for the sector. The question is, how many have landed?
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.
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.
review
A new ‘axis of evil’ is threatening the world
United by a shared hatred of the US-led order, the rulers of China, Russia, Iran and North Korea are growing worryingly close.
- Analysis
- Genocide
A genocide is under way in Sudan yet the world is silent
When an Arab militia rampaged through Maryam Suleiman’s village in the Darfur region of Sudan last year, “so many men were killed, like grains of sand”.
- Opinion
- Gender equality
Young women are leaving men behind (and not only at uni)
Females are now not only more likely than males to be caring for family members, but also to be in work or full-time education.
The West Wing is 25. Writer Aaron Sorkin explains the ‘walk-and-talk’
The show has become a cultural touchstone and, in an interview, its creator speaks about why he believes the politics were mostly beside the point.
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”.
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
Companies
‘On its knees’: Star slashes $1b off its casinos, slumps to huge loss
The gaming company has released its financial accounts almost a month after its shares were suspended.
Platinum rejects Regal’s takeover on value grounds
Regal Funds offered 0.274 of its own shares for every Platinum Asset Management share plus a special dividend. But that wasn’t enough.
BYD distributor insists no ‘kill switch’ inside its car software
The Australian face of China’s largest electric vehicle manufacturer said it cannot remotely control any EVs sold here, after the US sought a ban linked to spy fears.
Private credit creeps past 10pc of business lending, RBA says
The rapid take-off in opaque private credit lending has prompted concerns in some pockets of the financial system.
ASIC’s Longo says Macquarie execs must reflect on poor compliance
The chairman of the corporate regulator says it is clear the investment bank had a reckless disregard for following the rules, after issuing a record fine.
BlueScope sounded out as Whyalla steelworks rescuer
Sanjeev Gupta’s empire is showing further signs of distress as creditor defaults tick up against his other businesses in Australia, InfraBuild and Tahmoor coal.
Santos cleared of coercion over Narrabri land access
The result of an inquiry into an Environmental Defenders Office complaint comes as NSW extended a Santos “authority to survey” for a pipeline for Narrabri gas.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
Oil falls on report OPEC+ set to lift output in December
Saudi Arabia is committed to dropping its unofficial $US100 a barrel oil price target to win back market share, The Financial Times also reported.
China pledges more stimulus, driving asset prices higher
China’s Politburo injected fresh excitement into financial markets on Thursday, pushing for more fiscal spending to stabilise the property sector.
Guzman y Gomez IPO backers sell stake as stock joins ASX 200
The hottest IPO darling in recent memory has rallied hard since listing in June, but a few early investors have taken some money off the table.
The one bank stock to own even with rate cuts coming
Ex-Magellan stock picker Vihari Ross names a US lender with the most near-term upside, says Amazon is still good value, and Hyundai is ripe for a re-rating.
ASX rallies as China pledges more stimulus; Regal rises
Shares advance; Platinum board says Regal bid ‘undervalues’ the listed global equities fund manager; ACCC allows Lendlease projects sale to Stockland and Supalai; Soul Patts profit slides. Follow updates here.
Opinion
Labor’s smoke and mirrors on housing
Jim Chalmers and Anthony Albanese face much tougher questions about their economic agenda than the confusion about negative gearing and capital gains taxes.
Columnist
Inflation makes or breaks this year’s Power list
The power rankings reveal the splintering of traditional political power in a two-party system that is emerging alongside the economic strains.
Editorial
Why now may be the right time to invest in private credit
The Australian market for private credit is at an earlier stage of development, but attracting investment.
Managing Director at UBS Global Wealth Management Australia
Resorting to riddles on negative gearing treats voters as mugs
This week showed the government’s performance remains far from polished when events wander off script.
Political editor
Australia is on the map but not on the minds of South-East Asia
Greater economic engagement with South-East Asia is needed not only for Australia’s sustained prosperity but also for its political clout as a bona fide Asian power.
CEO of Asia Society
Three ideas to sharpen up the Business Council of Australia’s act
Curiously, given business bangs on about innovation all the time, the BCA has failed to get the memo.
Policy 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
Deputy PM slaps down Keating over AUKUS doubts
The internecine Labor squabbling over the $368 billion subs pact has not gone unnoticed in the UK and US, prompting a rebuke from Defence Minister Marles in London.
NDIS cost blowout adds to inflation and rates pressure
A blowout in government spending on the $49 billion National Disability Insurance Scheme is adding to inflation pressures, economists say.
Broken promises show ALP can’t be trusted on negative gearing: Dutton
Labor’s broken promises on tax cuts and super mean it could still curb tax breaks for housing investors after the election, Opposition Leader Peter Dutton says.
- Exclusive
- Negative gearing
These Australians are most likely to negatively gear their properties
With an average total income of $480,000, surgeons are Australia’s highest-paid professionals and the most likely workers to use negative gearing.
Rate cuts may trigger unsustainable property price boom: RBA
Falling interest rates could lead to a rising market that encourages households to take on too much debt, raising the risk of a damaging downturn, the bank warns.
SPONSORED
World
Netanyahu vows to continue to strike Hezbollah with ‘full force’
The Israeli leader’s comments, as he arrived in New York for the UN General Assembly, dimmed hopes for a ceasefire.
US economy proving still more resilient than expected
The economy expanded at an unrevised 3.0 per cent annualised rate last quarter. Growth was revised higher to 1.6 per cent for the first three months of 2024.
- Updated
- Middle East tensions
Fighting continues as US, France push for ceasefire
The US and its allies proposed a three-week truce between Israel and Hezbollah in Lebanon in a bid to head off an all-out war.
- Opinion
- World politics
Why even good politicians are unpopular these days
It’s not just Keir Starmer – political leaders are on the nose around the world, and it’s not all their fault. Decades of peace and affluence have raised expectations.
- Analysis
- Israeli-Palestinian conflict
Calmness in Jerusalem belies the fact Israel is preparing for war
While an invasion of southern Lebanon is seemingly inevitable, there is a sense of calm in the Israeli capital.
Property
ACCC green light for $1.3b Lendlease, Stockland estates deal
The divestment is one of a number of major initiatives that Lendlease boss Tony Lombardo is pursuing in a radical overhaul of the global developer.
- Exclusive
- Commercial real estate
Adrenaline rush, light and sound show planned for Mornington cable car
Plans by Rich Lister Peter Gunn and NAB director Simon McKeon for Arthur Seat Eagle on the Mornington Peninsula include a thrilling luge ride.
- 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.
Goldman Sachs’ old headquarters turned into $5850-a-month apartments
Both city and state are seeking ways to encourage more conversions to help alleviate New York City’s housing shortage.
- 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
Wealth
The best and worst retirement calculators revealed
Wildly different answers emerged when the same scenario was plugged into dozens of super funds’ retirement calculators. Now a consumer group is demanding higher standards.
- Exclusive
- Rich families
Rich Lister wealth secrets revealed after 30-year loophole ends
Two years after removing an exemption that allowed Australia’s richest families to keep details of their private companies secret, their financials are filtering through.
- Exclusive
- Rich families
How the daughters of Westfield’s John Saunders invest
Previously unreported filings for Terrace Tower, owned by the late businessman’s family, reveal assets worth $1.85 billion. But it has been a bumpy two years.
Technology
Cannon-Brookes-backed Spaceship acquired in $80m deal
The superannuation fintech, backed by Airtree and Grok Ventures, has been bought by eToro in an all-scrip deal.
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.
Work & Careers
Legal privilege an ‘attraction’ in law firm’s consulting play
HPX Group chief executive Nick Humphrey says rolling consulting services into a legal practice means clients have a better chance of taking advantage of legal privilege.
Why becoming a chief of staff is good for your career
Three top executives who took on the role early in their careers say the position was a springboard to far bigger jobs.
Life & Luxury
How this Sydney chef has won a cult following – without a restaurant
Eilish Maloney’s two regional cafes, her masterclasses and occasional pop-up diner reflect her adventurous approach to food, and people are lapping it up.
Even $10,000-a-week rehab is no guarantee of getting clean
A luxury industry has grown around helping wealthy drug addicts kick their habit, but patients say recovery takes more than money.
Meet the AC/DC-loving chief doctor who eats by example
Outgoing Australian Medical Association president Steve Robson says prevention is the only cure for Australia’s sick health system.
Luxury cars among Plutus Payroll tax fraud spoils up for grabs
A Porsche Cayenne GTS, a Porsche 911 GT3 and two Wolf GB08 Tornado racing cars are among 30 vehicles confiscated from instigators of the fraud that will be auctioned off.
Are capri pants really back?
A reader is curious – and concerned – about the supposed return of the cropped style.
