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.
Revealed: Which super fund directors earn the most
Payments to directors at one fund outstripped those of comparable size by more than half a million dollars, despite delivering worse returns than most of their rivals, analysis by AFR Weekend shows.
US jobs growth blows past estimates, unemployment falls to 4.1pc
Nonfarm payrolls increased 254,000 in September, the most in six months, leading traders to pare bets on a half-percentage point rate cut in November.
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
- 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.
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.
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.
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weekend reads
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.
The storm chasers trying to save the world from drought
Everyone agrees the planet needs more water. So why is cloud-seeding so controversial?
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.
The hotly anticipated lists of who wields the most overt, covert and cultural clout in Australia.
Companies
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.
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.
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.
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.
- 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.
The media storm behind the NRL’s next billion-dollar play
Peter V’landys and his chief executive Andrew Abdo want a mammoth broadcast deal to shore up the code’s future. Will they bring an NFL-style model to Australia?
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
- 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.
- Opinion
- Hybrids
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.
- Opinion
- Chanticleer
The death of IPOs is just the start. The whole world’s going private
A world where ordinary investors hold private equity alongside their share portfolio? Wall Street giant Marc Rowan thinks it’s coming as the world goes private.
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.
‘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.
Opinion
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
Housing is starting to shape our future politics
Politicians have a big incentive to start fixing structural blockages to property ownership – their own future might swing on it.
Editorial
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
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
Politics
‘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.
Voice architect says Labor should have delayed referendum
Megan Davis, who helped draft the landmark 2017 Uluru Statement, says Indigenous Australians lost out to misinformation and lies.
Dutton’s awkward moment selling nuclear to ‘no thanks’ Queensland
On Peter Dutton’s first appearance on the Queensland election campaign, he says he plans to work on changing Crisafulli’s mind on nuclear energy.
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.
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World
Jobs report, strike resolution offer Harris lift on economy
The September jobs report, which exceeded all expectations, is the latest in a drumbeat of good economic news for the Democratic presidential candidate.
‘Economic cold war’: EU pings tariffs on Chinese-made electric cars
Germany and its car makers opposed Brussels’ move, fearing it will further stifle European demand for EVs and also prompt painful retaliation from Beijing.
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.
- 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.
- Asia
- World politics
UK deal on Chagos Islands secures ‘indispensable’ US military base
As part of the deal, the UK will retain sovereignty of Diego Garcia, home to the American base, for an initial period of 99 years.
Property
- 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.
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.
- 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
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.
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.
Technology
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.
- 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.
Work & Careers
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.
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.
Life & Luxury
All the fabulous looks and fantasy of Paris Fashion Week
From bubble hems and beaded blouses to the return of the bumster, The Australian Financial Review’s fashion editor shares the highlights from the shows.
No wonder Coppola had to pay for Megalopolis with his own money
This Roman orgy of a film, 40 years in the making, warns of end of days for America – but more likely just means the end of the director’s career.
Liked The Sopranos? You’ll love this doco about it
Twenty-five years after The Sopranos first aired, this two-part series on Binge explores the way the show’s art mirrors the life of its creator.
Mary Shelley would approve of this Frankenstein show
The monster loses his Hollywood green skin and goes back to his roots in a new production from Shake & Stir Theatre.
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.
