The search is on for the 2025 Best Places to Work.
ASX set for fresh record as investors bank on China and rate cuts
Futures indicate the S&P/ASX 200 Index is poised to advance 0.3 per cent at the opening bell, enough to reset Friday’s record high.
Payments for rooftop solar slashed as energy grid overloads
Households with rooftop solar will get up to a third less for supplying their energy to the grid as retailers cut rates in response to an oversupply.
Ozempic alternatives flood the Australian market
The number of Australians taking weight-loss drugs is growing as new medicines hit the market. MPs warn the influx must be managed carefully.
Weak auction markets point to falling house prices
Auction clearance rates have fallen to their lowest level this year, suggesting buyers are worried there is little relief in sight from high interest rates.
There’s a ‘very real’ chance of two rate cuts by Christmas
Momentum is critical and right now, Australia’s economy is at genuine risk of stalling. It’s no surprise then that the bond market has already priced in rate cuts.
Billionaire Bruce Gordon retires from WIN as succession questions loom
The future of billionaire Bruce Gordon’s expansive estate – regional broadcaster WIN, 25 per cent of Nine Entertainment, and countless properties – is anyone’s guess.
The hot topic poised to swing a dozen Labor seats in Queensland
The opposition Liberal National Party has committed to its path to winning the coming state election using one burning issue.
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Edition
AFR Magazine – Power 2024
The hotly anticipated lists of Australia’s most powerful people in 2024.
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
Companies
‘At tipping point’: Inside one of Australia’s busiest hospitals
Doctors and nurses in Australia’s busiest emergency ward say the system is under unprecedented pressure amid a surge in mental illness and geriatric patients with nowhere else to go.
Big super says cutting bank investments will hurt members
“Without funding from super funds, banks would be much more dependent on volatile foreign capital,” AustralianSuper chief strategy officer Paula Benson says.
The two months that almost unravelled Star’s casino empire
Steve McCann knew his new job at the struggling gaming giant would be tough. Nothing prepared him for the first two months.
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.
- Opinion
- Chanticleer
Endeavour Group CEO’s last drinks a chance to reset
Steve Donohue knows booze and retail as well as anyone, but shareholder diplomacy was a challenge. Good luck to whoever takes over.
Optus communications ‘manifestly inadequate’ in 2023 phone outage
Senators want new rules to force telco groups to keep the public updated when phone and internet connections fail.
New gas projects approved, but supply buffer shrinks
Labor has approved two small gas projects in Victoria, hot on the heels of a new warning that gas supplies are shrinking.
Companies in the News
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Markets
Dow resets record high, S&P 500 drifts lower
The S&P 500 ended the final trading session of the week modestly lower. Iron ore extends rebound, for now. Bitcoin holds above $US65,000.
Iron ore’s ‘fundamentals’ still point to lower price: Goldman
The steelmaking material surged more than 10pc on news of China’s latest efforts to stoke its flailing economy. But Goldman says the advance will prove fleeting.
Bullishness persists in what BofA calls a ‘bubble dream’
US equities traded sideways to end the week, however, optimism about the outlook has the S&P 500 on a path to more record highs this year.
Binance founder CZ is released from US custody
Changpeng Zhao was released from a correctional facility in California after serving a four-month sentence.
UniSuper faces uprising from scientists over its support of gas
More than 1000 members of the $140 billion industry super fund have signed a letter to its board demanding it leverage its influence over APA Group or risk greenwashing.
Opinion
Want to stop an Israel-Hezbollah war? Look to Tehran
If the US and the West want calm on the Lebanese border, it needs to find the will to make Iran pay the price for its proxy warfare.
Middle East expert
Why competition laws could increase the risk of blue screen attacks
We should beware of one-size-fits-all technology policies that could open smart devices to the third-party vulnerabilities that caused the CrowdStrike outage.
What J.D. Vance and Tim Walz need to do to get Trump or Harris elected
In the vice presidential debate on Wednesday, the Democrat’s message needs to be about the economy. The Republican needs to just repair his image.
Research associate
Keeping vigilance over our big super risks
Australians now have a mountain of capital saved in their super system. But size brings its own challenges.
Editorial
RBA’s Bullock now has a bigger megaphone. But what should she say?
It’s possible the inflation problem is not about overheated demand, but rather the supply bottlenecks caused by lagging productivity.
Editor-at-large
Supermarket pile-on is going to cause real harm
If the supermarkets are guilty, then throw the book at them. But it’s populist politics that is really at work here.
Business professor and former regulator
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
‘The kingmaker seat’: The former Uber exec tasked with taking on the teals
Returning to Australia after almost a decade as an executive with Uber in Asia, Liberal candidate for Curtin Tom White says the ride-share giant helped shape his free market approach to politics.
Keep Bunnings and Chemist Warehouse out of supermarket wars: industry
As Labor considers tough powers for retailers abusing market share or mistreating suppliers, the food sector has warned against expansion of a key code of conduct.
ACCC supermarket case won’t hurt view of big business: AFR readers
Allegations Coles and Woolworths misled consumers with fake discounts have not significantly undermined confidence in big business generally, according to a new poll.
Negative gearing explodes | Coles’ and Woolies’ dodgy discounts | The corporate Power list
This week on the Chanticleer podcast, James and Anthony look at how the supermarket giants were accused of dodgy discounting, ask who will win the brawl over negative gearing, and examine the corporate Power list.
Labor won’t pursue negative gearing changes, Shorten predicts
The former Labor leader says he is sure the government won’t take changes to property investor tax breaks to the next election.
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World
Hurricane Helene kills 64 in US, leaves $37b damage bill
Hurricane Helene has killed dozens of people and knocked out power to millions across several US states, as the threat of flooding and dam bursts continues.
- Analysis
- Israeli-Palestinian conflict
Israel delivers spectacular blow, but it’s far from over
After failing badly on October 7, Israel’s military and intelligence agencies have turned things around, sending a strong message of deterrence to their enemies.
- Updated
- Israeli-Palestinian conflict
How Netanyahu crippled his enemy and put region on the brink
The assassination of the long-standing Hezbollah leader is the latest step in a plan that has sparked panic and mayhem.
Trump steps up personal attacks on ‘mentally disabled’ Harris
The Republican presidential candidate also blasted illegal immigrants as “vile monsters” as he increases his harsh rhetoric in an increasingly tight election.
- Updated
- Israeli-Palestinian conflict
Shaken Iran left vulnerable after Hezbollah chief’s killing
Leaders in Tehran suggested it would be the Lebanese militia, not Iran itself, that would strike back at Israel after Hassan Nasrallah’s assassination.
Property
Swimming ponds are status symbols for UK’s wealthy families
Wild swimming has become the trend du jour with wellness junkies. Now there’s a safer way to do it.
Treasury sells Karadoc winery near Mildura to wool brokers
The Karadoc winery, which made brands like Wolf Blass and Yellowglen, has been sold to the managing director and chief financial officer of Quality Wool Group.
Developers head to the regions to deliver housing
Many developers are seeing opportunities to build much-needed housing in regional areas experiencing strong population and economic growth.
- 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.
- 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.
Wealth
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.
Parents’ eye-watering education bills don’t end with school
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.
Technology
Fast-growing OpenAI is burning through truck loads of cash
As the company looks for more outside investors, documents reveal consumer fascination with ChatGPT and a serious need for more money.
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.
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.
Work & Careers
Qantas engineers strike goes national, targets peak-hour flights
Qantas engineers critical to aircraft maintenance will stop work at major airports around the country next week, threatening to disrupt peak-hour flights at the start of school holidays.
‘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.
Life & Luxury
Christopher Esber steals the show at Paris Fashion Week
On a drizzly day in Paris, the Australian designer delivered bright new ideas for dressing.
Women-only gallery’s court win: ‘30 seconds to squash the patriarchy’
Hobart’s Museum of Old and New Art will be allowed to reopen its Ladies Lounge and exclude men after Tasmania’s Supreme Court found it didn’t breach anti-discrimination law.
Everything you want to know about Fashion Week
The whole soiree is actually a month, taking in four big events in New York, London, Milan and Paris. Here’s a rundown of what’s been happening on the runways.
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.
‘Ambulance chaser of the art world’ to hang up his retouch brush
After 40 years as one of Australia’s leading art conservators, David Stein is calling time.
