Join influential industry leaders as they challenge the status quo.
KPMG general counsel, HR chief quit before Senate inquiry
General counsel Louise Capon and human resources boss Dorothy Hisgrove finalised a lengthy negotiating process of their exits with the firm’s board on Tuesday.
Senate unites to pressure Labor to axe widow tax
The non-Labor parties have stepped up pressure on the government to fast-track the abolition of the widow tax by joining forces to pass a bill of their own.
CBA re-enters deposit wars as housing slump makes mortgages harder
The bank has joined other players in offering cashback offers to customers who open a new account, as lenders fight harder for deposit funds and accounts.
ASX rises; SGH, Life360 plunge; Austal jumps 16pc
Shares open higher with RBA decision ahead, ANZ warns of steeper housing downturn, Life360 craters 13pc, SGH falls; energy stocks climb on oil spike. Follow live.
ANZ forecasts Sydney housing prices to fall up to 14.5pc
The latest economics team to revise its outlook for dwelling values also predicts a “structural” decline in investor borrowing.
Carroll delays start of Victoria's WFH laws
Victorian Premier Ben Carroll has delayed the start of the state’s contentious work-from-home laws until after the state election and shelved debate on the bill for at least two weeks.
Meta wiped key scam evidence in Andrew Forrest suit, US judge rules
The social media giant let its systems wipe crucial evidence of scam ads, a Californian judge has ruled, in a major boost to the billionaire’s legal case.
PM’s melon gaffe is matter of ‘diplomatic propriety’: former ambassador
Japan’s former diplomat Shingo Yamagami says the debate is about decorum; Don Farrell lobbies the US over 12.5pc tariff hit. Follow live updates.
Audio up, TV down as Southern Cross Media’s new CEO resets costs
Southern Cross Media’s Seven Network lost $125 million in advertising revenue over the past year, but clawed some of it back by increasing its audience.
$1b billboard bet stretches infrastructure definition to the max
Is oOh!media a gamble on cyclical advertising or bulletproof infrastructure play? Private equity just spent $1 billion to find out.
Property prices
SMSF ‘ban’ is shaking up housing – and commercial property, too
Federal government restrictions on self-managed super funds borrowing have started and will hit new home builds. But their effects will go far beyond housing.
Mosman to Toorak: The 50 biggest suburb house price falls revealed
North Curl Curl on Sydney’s northern beaches has led the nation’s price declines, with median values tumbling 19.4 per cent from their peak of $4.1 million.
Vendors ‘catch market’ with $1.88m sale after three rate hikes
The owners of this family home needed to sell and upsize. But the campaign they started in January came at one of the worst parts of the cycle.
SMSF loan applications double in weeks before borrowing ban
With residential gearing prohibited from Monday, self-managed funds must now buy outright or switch to commercial real estate.
Real estate industry prepares for agent ‘shake-out’ as prices decline
Sector leaders are predicting some agents may lower their fees to attract sellers in the current market, and expect redundancies across some agencies.
EARNINGS SEASON
Stokes says $100b data centre boom to bring SGH’s next leg of growth
Boral remained the stand-out performer at the billionaire family’s industrial conglomerate, but investors have been warned that growth will slow this year.
Westpac mortgage applications plunge 20pc after budget, rate hikes
The bank, which reported a $1.8 billion quarterly profit, expects growth in investor demand for housing credit to more than halve over the next two years.
Westpac’s plunge shows banking’s great mortgage shock just started
The lender says there are reasons to be cheerful amid the headwinds facing the property market, but bank watchers say margin pressure is likely to increase.
Treasury Wine Estates’ US write-downs soar above $1.2b
The Penfolds owner’s ill-fated US expansion has taken another hit, as the company wrote down the value of the operation by a further $558 million.
Gold-plated underperformance: The five-year pay audit boards can’t spin
Forget headline earnings – the remuneration report is where you’ll discover whether your board is rewarding performance or handing millions to underperforming CEOs.
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Companies
ASIC warns opaque car insurers slugging customers ‘for loyalty’
The regulator’s warnings, ahead of earnings updates from major providers QBE, IAG and Suncorp, comes amid increased scrutiny and a surge in premiums.
AusSuper fights retirement flight with expansion into financial advice
The country’s largest retirement fund is gearing up for a push into wealth planning and has drafted in Quality of Advice Review chairwoman Michelle Levy.
Macquarie, GIC to power Anthropic expansion with data centre rollout
The heavyweight investors have established Theseus Infrastructure, a developer, operator and lessor of data centre infrastructure anchored by the AI giant.
South Korea’s Hanwha makes $1.7b bid for Austal’s US unit
Australia’s biggest shipbuilder will consider the offer, while warning of a $175 million hit from its contract with the US Navy.
Fortescue brings in MinterEllison to probe executive harassment claim
The iron ore giant is already facing a broader lawsuit claiming sexism and bullying at its remote sites. The new probe is focused on the company’s head office.
David Jones loses CFO as suppliers fume over late payments
The upmarket department store giant, now owned by private equity, has hired former Myer executive Nigel Chadwick to take over as it negotiates with brands.
KPMG’s half-hearted disclosures skewed Ashurst review of misconduct
Reports made public by a parliamentary inquiry into the auditing giant’s misuse of client documents show it withheld crucial information about warnings.
SPONSORED
Markets
Hedge funds circle hyped-up ASX stocks that make ‘SpaceX look cheap’
Short sellers are targeting 4DMedical and DroneShield just as retail traders have begun to sell down their stakes.
Minotaur shorts Tesla, SpaceX as Hyperion bets $1b on Musk
The hedge fund offset its heavy chip losses in July by betting against SpaceX and Tesla, while Hyperion is on the other side of that trade.
Bullock must keep door open to rate hikes: economists
Economists say there remains a nagging case for the Reserve Bank to raise the cash rate again, even as it is widely expected to leave it unchanged on Tuesday.
Data centres are on a tear, but property fund warns all is not well
Real estate veteran Chris Bedingfield of Quay Global likes senior housing and self storage, but is steering well clear of AI-driven data centres. Here’s why.
Beware the hidden market crash beneath Wall Street’s calm surface
The S&P 500 ended slightly below its record in July, but beneath the surface momentum suffered one of its most violent episodes on record.
Opinion
Trump’s Middle East ceasefire won’t bring down long-term interest rates
A settlement in the Gulf will remove an acute energy premium and will lower the oil price, but will do much less to lower the cost of money.
Former prime minister
I fought for an antisemitism royal commission. It cannot spare Labor
To understand the drivers of antisemitism in this country, it’s necessary to grapple with the way governments have contributed to the rising temperature of hatred.
Campaigner
Victoria’s energy trilemma is the elephant in the election
Looming coal plant retirements and sluggish green infrastructure rollouts leave energy reliability hanging in the balance before polls open in November.
Editorial
Don’t believe horror stories: New York is having a summer for the ages
It started with the Knicks winning the NBA title for the first time in 50 years, with a disarmingly blue-collar roster. Then came the best-attended World Cup ever.
Writer and investor
Why the census is to economists what World Cup is to soccer
Beyond the ABS’s TikTok gimmicks, counting every Australian gives policymakers and business the data needed to plan the future.
Economist
Closer look at the economy says RBA will need to raise rates after all
Three key elements of domestic inflation pressure all showing persistence. The choice to hold on Tuesday is a longer, harder road to low and stable inflation.
Economist
Politics
Farrell lobbies US counterpart over 12.5pc tariff hit
The trade minister challenged Jamieson Greer’s claim that the new rate was warranted because Australia was not doing enough to combat forced labour.
‘Bomb us back to Stone Age’: Business warns Victoria on WFH bill
The Victorian government will shed 100,000 square metres of CBD office space as remote work deepens Melbourne’s vacancy crisis and fuels a business backlash.
Airservices admits it was too slow to hire air traffic controllers
The crucial staff are in short supply at the country’s busiest airport, causing major delays. But Airservices Australia says there is no risk to safety.
Chalmers faces wrangle with states over budget hit to business
The Queensland government says it is not its job to fix up the unintended consequences of the May federal budget.
Government green bank in talks to fund renewables-powered data centres
Clean Energy Finance Corporation chief executive Ian Learmonth says funding deals are in the pipeline that will support data centre projects using clean power.
World
Dozens killed and more trapped in powerful Colombia quake
Buildings collapsed in western Colombia, trapping residents under debris and forcing others to evacuate their homes as far as the capital of Bogotá.
Trump targets Aussie lamb, sparking fight to protect $1.4b market
Sheep producer Roger Fletcher says the meat would disappear from US restaurants without imports from Australia, which make up three-quarters of supply.
Jeff Bezos on verge of deal to buy stake in Liverpool
A consortium led by the son-in-law of steel billionaire Lakshmi Mittal is nearing a deal that could value the Premier League club at more than $8.5 billion.
‘Smart bomb’: Thatcher planned to destroy Peru’s cocaine with moths
Newly released papers reveal that military scientists at the UK government’s chemical defence base were planning to breed and weaponise thousands of insects.
Netanyahu rejects Hamas disarmament proposal touted by Trump
The Israeli prime minister told cabinet that his defence forces would not withdraw from Gaza until Hamas had “genuinely disarmed”.
Property
Lendlease to wind up malls fund after $1.3b deal with Cbus Property
The deal ends a long period turmoil over the flagship fund, which Lendlease fought successfully to retain before investors sought redemptions.
ASX listed childcare landlord plunges 20pc after rents missed
Arena REIT, the $1.3 billion landlord of childcare operators, has served a default notice on key tenant Edge Early Learning after it fell behind on its rent.
Auction clearance rates hit 11-week high, but prices track south
While capital city house prices continue their decline, Melbourne’s clearance rate revealed green shoots as buyers are drawn to improved yields and affordability
Reserve disclosure rules will hit weak market: real estate agents
At a time of already weak prices and low confidence, the bid to boost transparency around prices could further cut buyer activity, industry figures warn.
Secret $28m mansion ‘with swagger’ hits Sydney trophy market
A little-known property in Sydney’s inner east has hit the market, offering the first glimpse inside in almost 40 years.
Wealth
Sick children, ruined careers: The heavy price of medical emergencies
Half of families surveyed five years after a child cancer diagnosis report household income has failed to return to pre-illness levels.
Worried about a tech bubble? Your portfolio is safer than you think
The tech boom – and particularly AI – has the ability to lift boats across the market, spreading the gains and the risk.
How to protect your property gains from the CGT overhaul
As the 50 per cent discount ends, property investors should get a professional valuation to lock in a higher cost base and cut their tax bill.
Technology
This folding phone is the best yet (except for the price)
Samsung’s Galaxy Z Fold8 has to be the most charming mobile that’s been released in years. If it were cheaper, it would be the most compelling, too.
A computer in a keyboard? HP’s EliteBoard is a neat idea
There’s a fully fledged Windows computer inside this keyboard. You would be forgiven for wondering why.
Meta releases scaled-down AI model consumers can use at home
The new Muse Glimmer, a distilled version of Meta’s Muse Spark 1.2 model, is “small enough” to need only one graphics card to power its work.
Work & Careers
‘Just do it, Mum’: Melissa Donnelly the youngest ACTU boss in 20 years
CPSU head Melissa Donnelly highlights the changing face of unions where the average member is now a 44-year-old working mother.
Jodie Haydon’s candid talk wins over crowd at wellness event
The prime minister’s wife has spoken about her experience with perimenopause and fluctuations in her weight, and also why she shuns social media.
Life & Luxury
The Yahoo Boys: The true story of four Nigerian scammers
A quest to expose fraudsters in Lagos led author Carlos Barragán to a criminal racket fuelled by poverty – and by Western loneliness.
India Hicks’ 13-step guide to a great dinner party
Entertaining is an art for King Charles’ god-daughter and one-time flowergirl to Princess Diana – so it needn’t be perfect.
The neighbours fought this Palm Beach luxury hotel. Now they love it
On the same stretch as Mar-a-Lago and Gina Rinehart’s Florida address, The Vineta provides an “in” to a certain kind of elite.
Why ‘super movers’ have healthier brains – and how to be one
New research suggests matching the walking pace of a 50-year-old in later life could help you ward off dementia.
Peptide fans blame big pharma for a lack of data. Here’s the truth
The injectables’ supporters say there’s no clinical trial figures to back them because large drug firms can’t patent the compounds. The reality’s more complex.
