The search is on for the 2025 Best Places to Work.
ASX has best September quarter since 2013 amid worries it has peaked
More certainty of interest rate cuts and big economic stimulus sent the local sharemarket 6.5 per cent higher. But lower earnings growth is worrying investors.
- Updated
- Mergers & acquisitions
REA abandons $12b pursuit of Britain’s Rightmove
REA Group chairman Hamish McLennan’s personal touch was not enough to get the deal, which Rightmove rejected on Monday, over the line.
- Exclusive
- Workplace disputes
Brookfield fired manager on maternity leave, kept replacement: lawsuit
Kelly Dyball, who the property giant featured in the media to boost its women-in-leadership profile, was made redundant while on maternity leave and replaced by the man hired to act in her job, a lawsuit alleges.
Income tax hits 25-year high in Chalmers’ surplus
The treasurer’s second budget in the black has been underwritten by the highest share of wages taxation since before the GST was introduced in 2000.
Why Queensland is a nightmare for political strategists
Queensland’s population surged by about 260,000 in the two years to the end of March, with more than 150,000 arriving from overseas and over 60,000 flocking from other states.
Misinformation laws could stymie public health debates: Coatsworth
The nation’s deputy chief medical officer during the COVID-19 pandemic says Labor’s proposed crackdown on misinformation and disinformation goes too far.
SoftBank to invest $721m in OpenAI: reports
The move is part of a funding round that would value the artificial intelligence start-up at an eye-watering $US150 billion.
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The hotly anticipated lists of who wields the most overt, covert and cultural clout in Australia.
Companies
Macquarie leads the pack in end-of-year mortgage scramble
Official figures show the financial services giant’s loan book rose at four times the pace of its big bank rivals in August.
Perpetual faces investor backlash over bonuses with ‘no justification’
Proxy advisory firm Institutional Shareholder Services, which had previously been supportive of the fund manager, is urging a vote against executive pay and board members.
Sumitomo Forestry to pay $115m for majority stake in Metricon
The home-builder deal is the latest by a Japanese property company looking to offset the effects of a shrinking population at home.
Fonterra targets South-East Asia, keeps Aussie dairy arm for now
The burgeoning cafe and bakery scene across South-East Asia has boosted the milk giant’s appetite for the region.
Drifting former telco turned Austrian miner gets unstuck in Mongolia
Jade Gas has bounced around for three decades, and is trying its luck with coal seam gas in the ex-communist country. Could this be the ASX’s next gas giant?
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.
Minister was told ERA wouldn’t fight Jabiluka decision before it sued
Advisors to Resources Minister Madeleine King thought it “doubtful” Energy Resources of Australia would pursue legal action if she decided to cancel its mining permit.
Companies in the News
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Markets
Iron ore rockets 10pc as ASX, China records tumble
The price of Australia’s key export soared above $US110 a tonne on Monday, extending a rally in mining stocks and lifting the sharemarket to a record.
- Opinion
- Chanticleer
The ‘everything bubble’ is back. Here are five dangers to watch
Thanks to the Fed and China, markets are back at the levels reached during the 2021 frenzy. But it might not take much for investors to let a little air out.
- Opinion
- Sharemarket
Markets are on their best behaviour as the bulls take charge
The Fed is cutting interest rates and China’s policymakers are pumping its economy with money. Is there anything standing in the way of global sharemarkets?
ASX closes at all-time top, ends the quarter 6.5 higher
Shares reset record high; Synlait posts giant loss; Pacific Smiles rejects Genesis bid; AGL nabs new deal with Portland smelter; iron ore prices leap 7pc. Follow updates here.
Missed out on Nvidia and Ozempic? This fundie says it’s never too late
Northcape Capital’s Fleur Wright may have missed out in the early AI and GLP-1 investor frenzy, but she made other good calls that were perfectly timed.
Opinion
Why budget surplus is up, up, up
Jim Chalmers is claiming credit for delivering two budget surpluses in a row. He’s less keen to explain how much the high level of income tax helped.
Contributor
Our fiscal strategy strikes the right balance
We are repairing the budget without hurting an already weak economy, putting people under more pressure or ignoring urgent and unavoidable spending.
Federal treasurer
Chalmers isn’t a fair dinkum fiscal repairer like Keating and Walsh
It’s not unfair to look through Dr Chalmers’ two vanishing surpluses to the bigger budget picture: not enough has been done to tackle Australia’s long-term spending.
Editorial
Spending pressures make third surplus unlikely
The treasurer has delivered a solid second budget surplus of $15.8 billion on the back of booming income tax receipts, but future spending pressures are emerging.
Economics editor
A cure for disinformation that’s as bad as the disease
Well-meaning legislation to protect Australians from online lies could end up silencing legitimate public health questions as well.
Former deputy chief health officer
Bringing COP31 Down Under will be an unprecedented opportunity
Australia could co-host the global climate meeting in 2026 well on the way to emissions targets, and ready to drive fresh momentum.
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
Pro-Hezbollah protesters could evade punishment
The Albanese government is under pressure to take a hard line on supporters of Hezbollah following protest rallies at the weekend.
Lending laws locking out home buyers: Bendigo bank
Treasurer Jim Chalmers has rebuffed calls to ease mortgage lending laws after Coalition MPs and ANZ warned prospective home buyers were struggling to get finance.
Competition watchdog gets $30m boost for supermarket probe
The Australian Competition and Consumer Commission will receive a $30 million funding boost to investigate misleading and deceptive pricing practices.
Why Queensland is a nightmare for political strategists
Queensland’s population surged by about 260,000 in the two years to the end of March, with more than 150,000 arriving from overseas and over 60,000 flocking from other states.
Palmer-proof election donations reform plan looms
Labor is close to finalising plans to overhaul Australia’s electoral laws, including new rules for real-time political donation disclosures.
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World
Israel widens war as Iran vows to punish ‘criminal acts’
Dozens of Israeli planes hit targets in Houthi-controlled Yemen while also continuing to kill militant commanders in Lebanon.
Nasrallah’s funeral could coincide with IDF invasion
The Hezbollah leader’s funeral – like his speeches – is likely to garner considerable attention across the region and may be exploited by anti-Israeli forces.
SoftBank to invest $721m in OpenAI: reports
The move is part of a funding round that would value the artificial intelligence start-up at an eye-watering $US150 billion.
- Analysis
- Manufacturing
Are Chinese cars spying on you?
Security experts say there is a genuine growing fear that the West is becoming exposed to Chinese components under the hood as vehicles become more connected.
- Analysis
- Middle East tensions
Who will replace Hezbollah’s Hassan Nasrallah?
With Israel eliminating the Iran-backed group’s senior leaders seemingly at will, whoever takes the helm will have few illusions about their life expectancy.
Property
Sumitomo Forestry to pay $115m for majority stake in Metricon
The home-builder deal is the latest by a Japanese property company looking to offset the effects of a shrinking population at home.
Buyers pay $9.3m for home that needs $1m reno
In a time of high construction costs, property hunters competed for a house that needed a lot of work – but it was still cheaper than the alternative option.
Riskiest real estate bonds are beating Nvidia’s returns
It’s a turnaround few could have predicted when landlords around the world were creaking under the weight of higher interest rates and changing work habits.
An old London bridge? No – it’s a new housing development
In Camden borough, a row of tall brick arches gives the impression of a Victorian viaduct. But they’re something else altogether.
Di Pilla’s $50b funds dream inches closer with major mall deal
If it is finalised, the deal for a stake in the Sydney mall will be a fresh expansion of the rapidly evolving funds platform that went public five years ago.
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
- Exclusive
- Start-ups
Cannon-Brookes’ Startmate cybersecurity bet pays dividends
Startmate’s $35,000 stake in cybersecurity company Bugcrowd is now worth $2.1 million, delivering eye-popping returns for its billionaire backers.
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.
- Opinion
- Cybersecurity
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.
Work & Careers
- Exclusive
- CFMEU
CFMEU delegates investigated over ‘steeling’ claims
One of the union delegates under investigation for allegedly selling steel from a major government site is a former member of the infamous Bra Boys surf gang.
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.
Life & Luxury
Melbourne dining powerhouse wins award for country’s best wine list
Gimlet’s head sommelier says the key to success is paying the same level of attention to someone drinking by the glass as to a high-roller ordering a $12,000 bottle.
Unlimited ice baths and saunas: LA-style wellness lands here
Super Young’s most expensive membership package includes unlimited access to red light therapy, hyperbaric chambers and cryotherapy. All for $15,000 a year.
AFL grand final audience climbs to 4m
The clash between the Brisbane Lions and Sydney Swans was the most watched for the AFL since 2021.
This really was a discovery expedition
Helicopter flights from a ship exploring the Chilean Fjords revealed glaciers not previously charted.
Small ship, big adventures: Island-hopping in Portugal and Spain
This voyage aboard Windstar Star Pride included plenty of time ashore to explore volcanoes, deserts and tucked-away beaches.
