The search is on for the 2025 Best Places to Work.
Coles and Woolworths stare down a trial by fire – and an angry public
With its bombshell allegations this week the ACCC has given the big supermarkets two options, neither particularly palatable. Do they fight or do they fold?
- Opinion
- Chanticleer
Buyout maverick Crescent Capital shakes up private equity
One of Australia’s most successful private equity firms, Crescent Capital, like its founder Michael Alscher, is happiest operating below the radar.
Australia’s 10 most powerful people in 2024
There are three new faces on the Power list – plus some big swings in the ranking.
China’s stimulus blitz ‘very very good’ for Australia: Chalmers
The treasurer, who is on a visit to Beijing, says iron ore exporters will remain under pressure amid slowing housing and infrastructure projects in China.
- Live
- Markets Live
ASX gains, Star crashes 46pc, Endeavour reels from CEO exit
Shares rise; Endeavour Group loses CEO; ACCC concerned about Olam Agri - Namoi Cotton plans; Woolies, Coles under pressure post ACCC report. Follow updates here.
Dan Murphy’s parent Endeavour rocked by CEO exit
Over three decades Steve Donohue rose from the Dan Murphy’s shop floor to the top job. On Friday, he shocked the market with his departure.
- Live
- Need to Know
Israel escalation will make civilian return more difficult: US
The US Secretary of State puts more pressure on Israel to take ceasefire deal; Treasurer Jim Chalmers concedes he asked public servants for property tax advice. Follow live updates.
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POWER LIST
The forces that shaped 2024’s list of Australia’s most powerful people
Someone wasn’t happy to be on this year’s Power list. But even Power listers have no say in the process.
How we got Australia’s most powerful to step into David Rowe’s world
We thought our Power listers might be reluctant to participate. Turns out, they loved it – more or less.
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.
review
- Opinion
- US Votes 2024
Without his father’s support, Trump would have been nothing
A new book exposes Donald Trump’s financial failures via the sheer accumulation of detail. It also raises a bigger question about the “fake it ’til you make it” ethos of modern America.
Out in the cold: Why housing is just one problem for Labor
Unless Labor can dig its way out of its parliamentary quagmire, it faces the real possibility of ending up in minority government – or worse.
- 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”.
Will AI be a bust? A Goldman Sachs sceptic rings the alarm
Jim Covello, the bank’s head of stock research, warns that building too much of what the world doesn’t need “typically ends badly”.
- 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.
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Companies
- Exclusive
- Insolvency
John Palasty jumps from Virtical’s sinking ship
The developer is trying to distance himself from Virtical’s collapsing empire, stepping down and selling his shares to a director of multiple failed companies.
- 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.
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.
Super funds withdraw climate push against BHP
BHP has committed to disclose its investments in green steel innovation and produce a five-year financial plan after brokering a truce.
AFL boss warns against reform that would eradicate local bookies
In a wide-ranging interview, the AFL boss says he is also considering other marquee events to grow the sport.
‘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.
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.
Companies in the News
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Markets
Oil falls on report OPEC+ set to lift output in December
Saudi Arabia is committed to dropping its unofficial $US100 a barrel price target to win back market share, the Financial Times also reported.
What happened overnight? Materials and tech boosted the S&P 500
Australian shares were set to open higher. The S&P 500 broke its closing record. Iron ore topped $US100. Gold and copper rallied. Oil sank on a Saudi rethink.
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.
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
Financial advice for $88: Super funds launch low-cost tools
Superannuation funds have ramped up their financial advice offerings, but the type of advice they can provide remains limited.
- Analysis
- Australian economy
Albanese and Chalmers: negative gearing’s odd couple
The prime minister and the treasurer are chalk and cheese on negative gearing. Some of the differences are generational, some look more philosophical. But how will they play out as the election looms?
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.
Deputy PM slaps down Keating over AUKUS doubts
Internal Labor squabbling over the $368 billion pact has not gone unnoticed in the UK and US, prompting a rebuke from Defence Minister Richard Marles in London.
Donald Trump a threat to Australia’s economy: McKibbin
Long-term damage to Australian fortunes could result if the Republican nominee wins the US election and implements tariff hikes on China, new research suggests.
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World
One year on from October 7, the attacks still reverberate
As it prepares to mark the first anniversary of the worst massacre of Jews since the Holocaust, Israel is risking a wider regional war, while the fate of Gaza remains unresolved.
China’s newest nuclear sub sinks in blow to modernisation
China’s newest nuclear attack submarine has sunk in a shipyard accident, in a setback to the country’s attempts to overtake the US in a naval arms race.
- Analysis
- Middle East tensions
Why Netanyahu is Harris’ election nightmare
The Israeli prime minister continues to thumb his nose at Washington, and a wider war might well be the very October surprise Kamala Harris fears.
- Updated
- Middle East tensions
Netanyahu vows 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
GDP expanded at an unrevised 3.0 per cent annualised rate in the June quarter, while it was updated higher to 1.6 per cent for the first three months of 2024.
Property
- Exclusive
- Luxury property
Bankruptcy, a diamond dealer and a $100m home: Spring in Point Piper
A Goldman Sachs partner offloads a $13 million unit, receivers put a $12 million penthouse to market, and a childcare entrepreneur lists a $100 million waterfront.
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.
Wealth
Parents’ eye-watering education bills don’t end with school
With university costs on the rise and tuition debt smashing the borrowing capacity of first-home buyers, helping kids get started in life has arguably never been more expensive. Plan and save early, experts say. We’ve also found the most generous scholarships available.
- 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
‘Gold rush mentality’: Lawyers pile into AI advice
Lawyers are taking advantage of uncertainty around the legal implications of artificial intelligence use to build out new practices in the area.
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.
Life & Luxury
The remarkable history in Heeney’s magic mark
Hard lessons learned through elite sporting administration taught these two Australian business partners invaluable lessons for navigating the corporate sector.
AFL boss warns against reform that would eradicate local bookies
In a wide-ranging interview, the AFL boss says he is also considering other marquee events to grow the sport.
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.
It’s the Kylie and Troye show as ARIAs go for the masses
After a concept album about a cockroach won in 2023, the industry voters for Album Of The Year in 2024 have picked more mainstream fare.
