- Exclusive
- Class action
Business slams class action lawfare firms
Business groups warn shareholders could be hit with billions of dollars in lawsuits backed by deep pocketed hedge fund investors under the Albanese government’s free-for-all class action setting.
- Live
- Markets Live
ASX to fall; Bonds stumble on mere mention of rate rise
A strong jobs report helped further diminish the prospects for rate cuts; US Treasuries stumble; Netflix customers surge
- Exclusive
- Russia-Ukraine war
On the front line with Ukraine’s youngest commander
Kharkiv’s improbable resistance, led by General Sergei Melnik, faces growing threats from Russia and political stalemate in the US.
- Live
- Need to Know
Teen to face bedside hearing on terrorism charge
Investigators from the Joint Counter Terrorism Team Sydney interviewed the boy in hospital on Thursday; Jim Chalmers on the budget; Olyroos disaster.
Iran warns West of changes to its nuclear rules
A general from Iran’s Revolutionary Guards issued the warning as the US, UK and EU announced new sanctions against the regime.
- Updated
- Employment
Business collapses hit record, jobs market stays strong
The slowing economy pushed a record number of businesses into insolvency last month, but just 6600 people lost their job, suggesting smaller firms were hit hardest.
- Updated
- Aviation
KordaMentha runs the ruler over Bonza as its Miami PE owner wavers
Sources close to discussions said the corporate restructuring specialists had not been appointed as administrators, but to provide financial advice.
An insightful look at the week’s biggest tech stories, deals and trends delivered free to your inbox every Tuesday.
review
Why India’s confidence is growing
Narendra Modi’s reign as prime minister is producing a less liberal but more assured nation that is predicated on the idea of Hindu supremacy.
How not to be bored when you have to wait
A writer went on a quest to wait less. Then he discovered how to care less about waiting.
Russia’s spy network takes a deadly turn
The country’s intelligence services have been put on a war footing and begun operating at a level of aggressiveness reminiscent of the Stalin era.
How Amazon wasted a decade trying to reinvent the supermarket
The online shopping behemoth simply failed to make the technology cheaper than a conventional store.
- Opinion
- Wall Street
Look out graduates, Wall Street banks don’t need you any more
Accenture estimated that artificial intelligence could replace or supplement nearly three-quarters of employees’ working hours.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
$650 for RM’s? ‘People want handcrafted,’ says Nicola Forrest
Nicola Forrest says people are tiring of throwaway fast fashion as the iconic company she co-owns lifts capacity to tap into a fast-growing market for women’s boots.
Mathieson buys more Star shares as inquiry fallout spreads
The independent inquiry into the casino group heard from more current and former executives about dysfunction within the business.
Transurban’s WestConnex traffic jumps 10pc in a year
The first update from the motorway operator since the controversial Rozelle Interchange opened shows a surge in traffic in the 33-kilometre tunnel network.
Gina Rinehart goes big on copper with $186m Ecuador play
The deal for the Linderos development takes the iron ore billionaire’s outlay on mining projects in the South American nation to almost $500 million
BHP suffers new productivity hit in Queensland coal
Another downgrade means the miner spends almost seven times more money to dig a tonne of coal out of the sunshine state as it does for each tonne of iron ore in WA.
- Opinion
- Chanticleer
Why China could deliver BHP, Rio and FMG a double blow
China’s peak demand for iron ore has likely passed, and the rebalancing of steel from construction to export sector may see iron ore caught up in increasing trade tensions.
Alcoa vows to ‘listen better’ as it closes in on Alumina
Alcoa boss Bill Oplinger says permitting delays in Western Australia showed the US company needed to listen better, as he prepares to spend $4.6 billion buying more Australian assets.
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Markets
Private equity risks leaving ASX behind, RBA warns
The Australian assets of buyout funds have grown 75 per cent in four years, but the ASX 200 has shrunk by roughly $6 billion this year.
What happened overnight? Rate cut hopes faded further
US jobless figures held steady, adding to the week’s positive reports on the health of the world’s biggest economy.
Sharemarket doesn’t need rate cuts for life support
Australia’s jobless rate rose less than expected as the labour force remains tight, reinforcing the case for the Reserve Bank to stay on hold.
This fundie says Visa trumps Mastercard – and it’s cheaper
Claremont Global’s Bob Desmond thinks the market is too conservative on the global payments company, and is confident that Microsoft has AI upside.
- Updated
- Employment
Business collapses hit record, jobs market stays strong
The slowing economy pushed a record number of businesses into insolvency last month, but just 6600 people lost their job, suggesting smaller firms were hit hardest.
Opinion
Delay to environment reforms shows what WA wants, WA gets
The decision to delay reform of federal environmental laws underscores the stranglehold the resources states have on the next election.
Political editor
Australia must pay the price for defence and deterrence
A generation of politicians who grew up with a post-Cold War peace dividend are now struggling to switch from welfare to warfare.
Editorial
Musk wants $87b. Tesla’s Aussie chair is defying a court to help him
Robyn Denholm is asking investors to over-rule a judge who cancelled the biggest pay package in history for an AWOL chief executive.
Senior correspondent
The Senate’s mock outrage games shame all
Threatening corporate leaders with jail time over an accounting contrivance is part of trend where the national parliament is becoming a theatre for showboating and mock outrage, writes Tom Burton.
Government editor
Jobs numbers pose a sticky conundrum
The Albanese government can only publicly welcome the strength of the jobs market, but a receding horizon for rate cuts is always difficult for political leaders eyeing their election prospects.
Columnist
Biden’s trade action against China is just polite Trumpism
Improved relations between the two powers can’t mask age-old trade tensions. Better communication is important because the structural problem between them is insoluble.
Columnist
Politics
Taxing judges’ pensions bad for independence, women
A former Federal Court chief justice says the reforms were likely unconstitutional and would stymie efforts to improve the number of women on the bench.
China’s iron ore demand may have peaked, RBA warns
The country’s shrinking population is posing a multi-decade headwind for mining industry profits and government revenue.
PM slammed for labelling Gary Banks a flat earther
Anthony Albanese hit back at criticism of the Made in Australia policy, but economists say many share the concerns of former productivity commissioner Gary Banks.
Dutton faces Liberal pushback over ‘big stick’ supermarket powers
Opposition MPs have warned against any move that could undermine the Coalition’s free market economic credentials.
Relief in sight as anger over student debt escalates
Rising student debt is crippling a generation of recent graduates, but the Prime Minister has indicated help is on the way.
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World
12 jurors picked for Donald Trump’s hush money trial
The rapid progress on Thursday afternoon propelled the case closer to opening statements and weeks of testimony.
US House to vote on Ukraine and Israel aid, despite hardliners
Republican Speaker Mike Johnson says the long-awaited vote on aid for Ukraine, Israel and the Indo-Pacific should go ahead as soon as this weekend.
US jobless figures hold steady as labour market stays strong
US jobs have remained plentiful and the economy has forged on thanks to strong consumer spending.
Record-breaking rain floods Dubai airport and swamps desert
Experts said storm systems across the region were forecast well in advance and that UAE’s cloud seeding would not have caused such a deluge.
- Opinion
- Trade wars
Biden’s trade action against China is just polite Trumpism
Improved relations between the two powers can’t mask age-old trade tensions. Better communication is important because the structural problem between them is insoluble, writes Edward Luce.
Property
‘It’s going to take time’: Bondi mourns as retail goes into limbo
Westfield Bondi Junction was silent on Thursday as its doors opened to the public for the first time, five days after a stabbing attack that killed six people.
David Droga plans new home for Tamarama headland site
The owners and designer Luigi Rosselli aim to create a house on the landmark Sydney site that better reflects its location and the environment.
Singapore’s $192,000-a-month retreats are latest luxury for new mums
High-end post-birth care centres are booming, especially in Singapore where the super-rich from mainland China have been flocking.
Tenants race for top towers as B-grade buildings empty
The divide between prime buildings and secondary ones is most stark in Sydney. B-grade buildings will get left behind by tenants and lenders, experts say.
Hidden billions in Tokyo real estate lure activist hedge funds
There’s a $222 billion gap between how companies value their real estate on their books, versus what those same properties would fetch in the current market.
Wealth
- Opinion
- SMSFs
New superannuation tax may hit venture capital
SMSFs will shy away from investing in start-ups for fear of being slugged with big tax bills on unrealised gains.
- Opinion
- Super Q&A
How do I calculate my tax-free super pension limit?
The transfer balance cap has increased twice since its inception to reach $1.9 million. Calculating how to stay within it can be tricky.
Three ways investors can back the next Canva
Dozens of angel investing clubs are allowing sophisticated investors to buy a piece of early-stage start-ups for as little as $10,000.
Technology
How Amazon wasted a decade trying to reinvent the supermarket
The online shopping behemoth simply failed to make the technology cheaper than a conventional store.
This tiny tweak made WhatsApp users furious
People began to notice the minor alteration last week, prompting outrage from users across social media.
Apple exec’s secret to success: don’t take notes
In his first day of cross-examination, Apple Fellow Phil Schiller lays out its casual but obviously effective approach to decision-making.
Work & Careers
International student numbers slump as reforms bite
Only 46,570 students landed in Australia to begin their studies last month.
Economics professor sacked for ‘personal relationship’ with student
The University of Melbourne’s defence of its firing of an academic has pointed to claims he massaged shoulders and often asked a student to go out for a drink.
Life & Luxury
Singapore loses ‘world’s best airport’ gong, Melbourne leads Australia
Doha’s Hamad won, but in a strong showing for Asia, Seoul Incheon bagged third place, while Tokyo’s twin facilities of Haneda and Narita took fourth and fifth.
What happens when farmers and chefs partner in R&D
Mark Foletta and Stephen Nairn met over a box of foraged mushrooms in 2011. Thus began their endeavours to surprise and delight your tastebuds.
Why this exec wants to ride with Elon Musk in Western Australia
Cash Converters boss Sam Budiselik loves cycling, but only in his home state. He’s also a fan of the world’s third-richest man.
SPEND: This week’s edit of lovely little luxuries
From chic wool slides to cosy corner lamps and retro golf gear, we have inspired suggestions for you.
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Have you been paying attention this week? Test your knowledge across politics, business and world news.
