On the brink: Israel, Iran and the rising threat of regional conflict
Although there have been skirmishes this week, the Middle East’s two biggest antagonists remain keen to avoid a hot war. That might not be possible.
PM rushes to ramp up Beirut exodus
The federal government is ramping up efforts to bring Australians out of Lebanon, chartering Qantas to repatriate citizens in coming days as Israeli airstrikes come perilously close to shutting Beirut’s airport.
Housing investors borrow at highest level in more than two years
Home loans, like housing prices, lay bare the differences between Australia’s distinct residential markets.
Is there any rhyme or reason to credit card surcharges?
From absolutely no fee to more than four per cent, paying for a coffee can suddenly become very costly. These cafés explain why they charge what they do.
Local investment minnow snags spot in $9.6b OpenAI capital raise
The firm behind ChatGPT closed the largest private investment deal this week, giving it a valuation of $229 billion – on par with Goldman Sachs and Uber.
- Exclusive
- Property market
Richard White and girlfriend welcome baby amid stoush with ex-lover
The year-long stoush with the Double Bay wellness entrepreneur spilled into the open after the WiseTech Global founder served her with a bankruptcy notice.
- Exclusive
- Workplace
Return to work programs let talent shine, narrow gender pay gap
Jo Reardon says going back to banking after five years was daunting but a return to work scheme helped her thrive at the Commonwealth Bank.
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review
Iran is losing. That may matter more than Israel’s mistakes
During my deployment in Iraq, I learnt an important lesson about the West’s jihadi enemies: Defeat demoralises them.
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.
Vance’s mother deals with her past and his future
Trump’s running mate hid nothing in his warts-and-all memoir Hillbilly Elegy – including his mother’s addictions.
Kamala Harris’ historic run could outpace Hollywood’s Oval Offices
The lack of women of colour among actors playing presidents could prove consequential as Americans weigh voting for Harris.
The ordinary Germans turning to the far-right
It’s not disillusioned old people hankering back to Germany’s past, but overwhelmingly young people who want a future free of multiculturalism.
The hotly anticipated lists of who wields the most overt, covert and cultural clout in Australia.
Companies
Hancock scion looks to Arctic Circle for next big copper discovery
A company backed by John Hancock, grandson of Lang, has found copper grades of up to 64 per cent in far northern Canada.
Platinum lets in Phil King’s Regal in anticipation of higher bid
The three-decade old global equities firm founded by veteran stock picker Kerr Neilson has agreed to give its would-be suitor access to non-public information.
Fortescue in court win over Element Zero
The Federal Court refused a request by former Fortescue executives to invalidate a search-and-seizure mission against them.
Why just three teams keep winning the NRL title
Just three teams have won the NRL since 2018, but the AFL premiership has been shared between six clubs in that time. Here’s why.
Qatar rebalances the scales in a long game of revenge against Qantas
A decade long drama between the Gulf carrier and the national carrier ultimately led to the blockbuster Virgin Australia deal, shaking up the aviation sector.
AustralianSuper goes big in New York searching for prime investments
The country’s largest industry superannuation fund has moved two executives to the United States and made a string of high-level appointments.
- Exclusive
- Agriculture
Ed Peter’s Duxton stops investors withdrawing from flagship farm fund
The asset management house founded by the prominent South Australian businessman is already selling several of its assets out of its other portfolio companies.
Companies in the News
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Markets
Middle East worries snap ASX’s three-week winning streak
Australian shares fall as concerns rise that Israel is preparing to target Iran’s oil assets. ASX defence small-cap rallies. Energy giants gain. Follow updates here.
- Updated
- Petrol prices
Petrol price spike threat as Israel ponders hit on Iranian oil fields
The rising threat of a regional war in the Middle East also scuppered the ASX’s three-week winning streak, which had sent the local bourse to record highs.
‘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.
What happened overnight? The Dow paced Wall Street lower
Australian shares were set to open down, tracking losses in New York after crude leapt on concerns Israel was poised to hit Iranian oil assets. Gold was steady.
Why CSL is the cheapest stock this fundie owns
Brad Clibborn at BAEP says Fisher & Paykel Healthcare surprised the most in reporting season, and outlines why he is bullish about the ASX’s plasma giant.
Opinion
How faraway conflicts are turned into divisions at home
Peter Dutton has accused the Albanese government of appeasement on the Middle East. But its positions reflect the same limitations felt in Washington.
Columnist
Trading regulatory risk in the $40b hybrid sector
Investors are puzzling over what to do with their hybrids following APRA’s proposal to phase out the sector, writes Christopher Joye.
Columnist
Australia’s politics of protest is on full display
The country might be well out of target range in the Middle East but its suddenly fragile social fabric is being severely tested.
Columnist
Donald Trump’s secret sauce - he just gets very lucky
From The Apprentice to Hillary Clinton’s email scandal, something always seems to turn up for Trump. But every gambler knows his luck will run out.
US columnist
Qatar-Virgin deal finally the right result for consumers
Petrodollars underwriting a more competitive aviation sector is not new for Australia or many other countries. And it’s something that should be welcomed as ultimately giving consumers the best chance to benefit from meaningful competition.
Editorial
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
Politics
The Chandler-Mather plan to take Queensland (and beyond)
The Greens hope to claim another four seats in the Queensland parliament, before transforming the nation’s political landscape.
X wanted to avoid exploitation rules because it’s not Twitter any more
Australia’s eSafety commissioner Julie Inman Grant has won the latest court battle against Elon Musk but faces more hurdles as the tech billionaire fights her attempts to regulate the internet.
‘No tolerance for illegal behaviour’: police issue protest warning
Australian police forces issued a rare joint statement warning people planning to attend pro-Palestine rallies at the weekend there will be no tolerance for illegal behaviour.
Growth slump could fuel inflation and spending blowout: central banks
Low productivity growth could prolong inflation and lead to an economic slowdown, generating social unrest and causing a blowout in government spending, the Bank for International Settlements says.
The Middle East is fraying Australian business and political ties
Muslims, Christians and Jews in Australia have long been linked across business, politics, sports, arts and charity but this weekend’s protests are pushing relationships to the limit.
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World
Iran losing may matter more than Israel’s mistakes
During my deployment in Iraq, I learnt an important lesson about the West’s jihadi enemies: Defeat demoralises them.
- Analysis
- US election
‘No one is in charge’: Why the Middle East is heating up US election
Presidential nominee Donald Trump is jumping on foreign policy to attack rival Kamala Harris with voters to head to the polls in weeks.
Israel bombing shakes Beirut as strike zone expands
The attacks come after Israel extended its evacuation warnings to 20 more towns and villages in southern Lebanon, signalling a potential expansion of its assault.
US dockworkers agree to suspend strike
The cargo backlog from three days of port closures is likely to take 12 days to clear, according to analysts.
Singapore to charge billionaire Ong for scandal over ex-minister
Property tycoon Ong Beng Seng worked with the disgraced former minister S. Iswaran to bring the Formula 1 Grand Prix to the city state.
Property
Scott Farquhar and Kim Jackson sell Point Piper’s Elaine for $130m
Atlassian co-founder Scott Farquhar and his wife Skip Capital’s Kim Jackson sold their unused waterfront mansion Elaine in Point Piper for about $130 million.
Housing investors borrow at highest level in more than two years
Home loans, like housing prices, lay bare the differences between Australia’s distinct residential markets.
- Exclusive
- Luxury property
Byron’s designer holiday retreat Ohana set to smash North Coast record
Nestled where the forest meets the sea and next door to Chris Hemsworth, the Broken Head retreat is considered among the best parcels of land in Australia.
Why Australia is building fewer – not more – homes
Australia needs more new homes but the post-pandemic surge in costs makes development viable only when targeting downsizers and empty nesters.
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.
Wealth
Tweaking the 3pc buffer rule misses the real problem with housing
Reducing the mortgage serviceability test would allow more borrowers into the market. But the test is only one part of a much gnarlier problem.
Would your family trust survive a black sheep attack?
Trusts are the go-to structure for asset protection and inheritance planning but as more wealthy families are discovering, they’re not bulletproof. Experts weigh in on how to prevent costly showdowns.
- 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.
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
NSW appoints 26 new senior counsel, but only eight are women
The figure is still well above the overall levels in the senior ranks of the Bar, where only 16 per cent of silks are women.
CEO son crowned head of Rich List family’s $18b plumbing empire
Owners of Australia’s largest plumbing empire, the Wilsons are less known but in the same wealth echelon as the Pratts, and son Peter is about to take charge.
Life & Luxury
Sacked orchestra chief may have to pay pianist $18k
Jayson Gillham is going after the Melbourne Symphony’s former managing director, and current COO, as part of his discrimination suit against the orchestra.
Meet the farmer billionaire who wants you to do nothing about climate
Johnny Kahlbetzer knows humans won’t change anything just for the planet’s sake, so he’s obsessed with backing technology that’s not only greener, but better and cheaper.
I’m 54 with a 35-year-old body. It all changed when I gave up drinking
As Sober October begins, one personal trainer explains how and why she quit alcohol – and the rewards reaped as a result.
The perfect martini begins at the Top End
Embrace the outback spirit to become a distiller for a day, with no guarantee of success.
How the parents of Baby Boomers were enticed to cruise
A rare collection of vintage posters reflects an era when travel was a voyage into the unknown.
