The search is on for the 2025 Best Places to Work.
Australia’s IPO drought the worst since the GFC
Fund managers are frustrated about the lack of quality listings on the ASX, and who can blame them? Anyone who got Guzman y Gomez for $22 is sitting on a tidy profit.
Protesters scrap October 7 rally, argue over another
Pro-Palestinian activists withdrew an application to hold a vigil in Sydney, while arguments continued over a planned march on Sunday.
- Live
- Need to Know
Iran’s missiles shown in extraordinary video; Labor ‘at odds’ with allies, Dutton says
Iran launched dozens of missiles into Israel, an escalation in a tit-for-tat cycle that is pushing the Middle East closer to a regional war. Follow our live coverage.
‘Stretched valuation’: Dump GyG for KFC, says Goldman Sachs
It has initiated coverage on Guzman y Gomez with a “sell” rating, predicting its shares will drop 12 per over the next 12 months.
- Exclusive
- Energy
The secret plan to bring a floating LNG terminal to Melbourne
The Victorian government is examining a floating liquefied natural gas terminal in the southwest of Port Phillip Bay.
ANU cuts jobs to save $250m as overseas student cap bites
Chancellor Julie Bishop’s leadership of the Australian National University has been questioned after a major savings plan that will axe at least 50 jobs was announced.
- Live
- Markets Live
ASX flat, real estate stocks gain; Phil King still shorting CBA
Australian shares waiver in muted session. Pilbara shares shopped. Tesla slumps. Oil tempers its rally as fighting in Lebanon escalates. Follow updates here.
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The hotly anticipated lists of who wields the most overt, covert and cultural clout in Australia.
Companies
Aurizon investors impatient for Top End contracts
Aurizon is in “regular” talks with potential customers for its ambitious land bridge scheme, but scepticism abounds over whether it can pull the bold plan off.
Origin Energy abandons big hydrogen plans in blow to fuel’s future
The electricity and gas giant will not proceed with a project in the Hunter which had been shortlisted for funding as part of Labor’s $2 billion incentive scheme.
- Exclusive
- Managed funds
Ed Peter’s Duxton empire in pain as it cuts jobs, sells properties
The former bank executive has built a considerable asset management business with wealthy backers. But tough times have forced it to restructure – and shrink.
- Updated
- Executive shake-up
CBA shuffles executive team as it looks for next generation of leaders
Andrew Hinchliff will become chief risk officer and Sinead Taylor will run the institutional bank, amid other leadership changes unveiled on Wednesday.
How much is Star’s Sydney casino worth? Just $8m, says Barrenjoey
The broker has warned clients that the company will post years of losses as it struggles with falling revenues and big costs involved in developing its hotels.
- Updated
- Courts
ANZ loses appeal over botched $2.5b capital raising
The bank was attempting to have a ruling thrown out that it kept the market in the dark during a big institutional shortfall almost a decade ago.
SPC heads back to the ASX for the first time in two decades
The century-old agribusiness group which began life as a farmer co-operative is merging with listed Original Juice Co and expanding into dairy products.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
ASX cancels trades after fumbling Namoi Cotton takeover bid
The exchange operator was forced to scrap more than $800,000 in trades which were allowed despite a new takeover offer not being put to the market.
What happened overnight? The S&P 500 advanced modestly
Australian shares were set for a muted start. Tesla slumped as it missed high delivery expectations. OpenAI secured funding. Oil tempered its rally.
Tesla’s first quarterly sales gain this year comes up short
The Elon Musk-led company handed over 462,890 vehicles to customers in the past three months. Its shares tumbled, paring some of their recent rally.
- Opinion
- Chanticleer
Why investment legend Chris Mackay says ‘it’s a dangerous time’
The MFF Capital Investments boss and Magellan co-founder says the “everything rally” is likely to reverse, but calm, long-term investors can fight through the noise.
Chris Mackay buys Montaka, outlines Magellan-like vision
The Magellan Financial Group’s co-founder is roping a new manager into his $2 billion investment vehicle and his expectations are high.
Opinion
Middle ground on the Middle East is bleeding Labor
A fast end to hostilities in the Middle East would suit the Albanese government as it tries to focus on cost of living.
Foreign affairs, defence correspondent
October 7 protests would do more damage to social cohesion
Ideally, the protest organisers would rule out the rallies proceeding based on taste and sensitivity, without even waiting for the court decision in NSW.
Editorial
No more weird: Vance remakes the Trump campaign record
J.D. Vance wanted to come across as a nice guy while making Donald Trump’s policies sound sensible. The real nice guy, Tim Walz, tried to challenge that but it was too little, too late.
Columnist
Iran is playing its last few cards as its missiles strike Israel
Iran has little chance of defeating Israel in an all-out war. Tehran is in no position to dictate terms, and it knows it.
Corporate advisor
A narrow window to change the fortunes of the ASX
The cost and regulatory burden of a public listing is driving companies and investors into the arms of private capital. The ASX needs to fix itself.
RBA should spell out rules on private meetings with market movers
The holding of confidential meetings can backfire when some people think that others are getting advantaged access to the central bank’s thinking.
Economics editor
Politics
Australia pursuing ‘appeasement’ with ceasefire call: Dutton
Opposition Leader Peter Dutton on Thursday said Australia’s stance on the Middle East conflict would “diminish” relations with Israel and other allies.
Victoria slumps for business, as execs warn: ‘It’s really struggling’
CSL chairman Brian McNamee and former NAB CEO Ross McEwan warn that the state is in financial peril, as new business starts fell behind the rest of the country.
Labor targets supermarket ‘shrinkflation’
Changes to unit pricing rules have been designed to help consumers avoid a hidden form of inflation.
- Exclusive
- Energy
Boost domestic gas supply or risk the Greens, King tells producers
Resources Minister Madeleine King has warned the gas sector it risks damaging its social licence if it does not boost supply and lower prices.
- Exclusive
- Freedom of speech
CCTV and sleepover bans: universities clamp down on protests
Universities are in a balancing act trying to protect the right to protest while also keeping students and staff safe in the wake of pro-Palestinian protests and antisemitism.
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World
- Analysis
- Israeli-Palestinian conflict
In Beirut’s once-bustling suburbs, smoking rubble and eerie quiet
Most of the residents of the Dahiya – the collection of neighbourhoods on the southern outskirts of Beirut where Hezbollah is the dominant power – have fled this week.
- Analysis
- Israeli-Palestinian conflict
How Israel could retaliate against Iran
Officials say Israel’s options include attacks in Iran, such as on missile launchers or oil infrastructure, some have even called for strikes against its nuclear facilities.
Biden slams ‘incredible’ 800pc profits as port strike threatens brands
The stoppage, which also risks reigniting inflation and pushing up unemployment just a month before the US election, is heaping pressure on President Joe Biden.
British PM stumps up for Taylor Swift tickets after donations furore
With his popularity in freefall, Keir Starmer has tried to make amends for his freebie frenzy by paying back $12,000 worth of gifts out of his own pocket.
Trump not immune from crimes in election case, prosecutors argue
The government says the former president was acting as a private citizen when he allegedly pressured his VP to intervene to stop the certification of Joe Biden’s win.
Property
Sydney doesn’t have enough three-bedroom apartments for Boomers
Many empty-nesters are staying put in their large houses or competing with young families and professionals for modern three-bedders with lifts.
Hong Kong arts hub selling land to stay afloat
The redevelopment of a reclaimed area on Victoria Harbour is important as Hong Kong struggles to restore its reputation.
QIC to set record $900m mall deal as it embarks on more sell-downs
Queensland Investment Corporation wants to follow up what will be the biggest retail asset sale in Australian history in Blacktown’s Westpoint mall by selling Woodgrove Shopping Centre in Melbourne’s west.
Why rents and vacancy rates are both falling
Tight rental vacancies typically fuel strong rental increases, but not in the current market.
- Opinion
- Property market
We’re more nuanced on negative gearing than five years ago
Disadvantages for investors – and gains for aspiring owners – would be more modest than many expect, if Australia’s property tax regime changed.
Wealth
- Opinion
- Property downsizing
Four tips for upsizing super with downsizer contributions
If you’re 55 or over, you may be able to make a downsizer superannuation contribution to boost your retirement savings by up to $300,000.
- Opinion
- Super Q&A
At last, Labor has a plan for legacy pension exits
After years of delay, the federal government has produced regulations that will release retirees from restrictive legacy pensions.
How the ATO caught taxpayers cheating on ‘lifestyle’ assets
The Tax Office has provided The Australian Financial Review with exclusive details about some recent investigations.
Technology
- Updated
- Courts
Billionaire Richard White attempts to bankrupt alleged former lover
Lawyers acting for Double Bay wellness entrepreneur Linda Rogan say WiseTech Global founder’s legal claim against her is an “abuse of process”.
AI can do only 5pc of jobs, says MIT economist who fears crash
Daron Acemoglu doesn’t see how artificial intelligence lives up to all the hype. “You’re not going to get an economic revolution,” he says.
OpenAI raises $9.6b in funding at $228b valuation
The size of the investment underscores the tech industry’s belief in the power of AI, and its appetite for the extremely costly research powering its advancement.
Work & Careers
‘Uniquely broad’ sanctions regime too harsh on business: Allens
Major corporate law firm Allens says the extraterritorial application of local sanctions does little to advance Australia’s foreign policy objectives.
MinterEllison nabs KWM’s former disputes head
Litigator Peter Pether says “the calibre and structure” of Minter’s partnership enticed him to leave KWM.
Life & Luxury
Can a Millennial overcome a mortal dread of cruising?
After 15 years of saying no to cruises, the time finally came to walk the gangway to meet those towel animals and other weird traditions.
Would you eat barramundi sashimi?
This Brisbane restaurant hopes its new menu item will become a national trendsetter.
Like it or not, you’re already being cloned
We’re not all as photogenic as Demi Moore, but genetic data-doubles are becoming par for the course.
Travel far, travel light. Leave room for a $500,000 quokka
A skimpy but special swimsuit, tiny skin creams, a petite board game. Plus the tidy travel bags to squeeze them into.
A trip to Greenland isn’t complete without doing this
Of all the activities on this Arctic voyage, nothing beats flying across the ice on a dog sled.
