- Opinion
- Chanticleer
Anglo’s predictable rejection won’t end BHP’s ambitions
BHP won’t be put off the scent by Anglo American’s rejection of its $60 billion takeover. There’s too much at stake.
Anglo American rejects BHP’s $60b bid for copper supremacy
Anglo American investors were already cool on BHP’s offer as the race between global mining heavyweights for copper assets hots up.
Market bets the RBA will raise rates by August
Traders are ascribing a more than 50 per cent chance the Reserve Bank will lift the cash rate as early as in August to stamp out inflation.
- Opinion
- Bonds
Why US housing remains the big obstacle to rate cuts in 2024
Investors’ hopes of rate cuts are waning, as problems in the US housing market look set to keep house price and rental inflation bubbling along.
Chalmers confronts a diabolical budget conundrum
Just a few months ago, the Australian economy was shaping up perfectly for the Labor government and its treasurer. Then came this week’s inflation data.
US ban on non-competes will likely ‘embolden’ Labor
A blanket ban on non-compete clauses in the United States is likely to embolden the Albanese government to go hard on regulating post-employment restraints in Australia, some legal experts have predicted.
- Opinion
- Chanticleer
12 stock picks for a tough investing environment
Low rates and endless stimulus may have left investors unprepared for the difficult environment that lies ahead. Here are 12 stock picks to consider.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
Edition
AFR Magazine - May
See the inner workings of the Gold Dinner charity gala, find out which Australians gave away the most money last year and don’t miss out women’s watch special.
smart investor
A child won a share of her dad’s estate – despite planning to kill him
A 75 per cent success rate in contesting wills is encouraging more family members to sue for a bigger share. Here’s how to protect your final wishes.
- Opinion
- Inflation
You heard right – the RBA could raise rates again
The Reserve Bank of Australia will likely be forced to warn that it could raise rates again.
Why you’ll live longer than you think (and what it means for your wealth)
Very few people die at their age of life expectancy, giving rise to financial planning’s biggest conundrum: longevity risk.
I’m an expat with shares and property. What are my tax obligations?
One of the most common mistakes expats make is not adjusting their investment strategy to minimise tax, advisers say.
How will $3m super tax work when my balance goes all over the place?
You won’t get a refund if you’ve paid the tax and your fund later loses money. But you can carry forward the loss to offset gains in later years.
weekend reads
- Analysis
- Social media
The real reason Elon Musk is taking on Australia
Australia has become the latest battleground for the billionaire’s global war on internet censorship, Will he win?
Chalmers confronts a diabolical budget conundrum
Just a few months ago, the Australian economy was shaping up perfectly for the Labor government and its treasurer. Then came this week’s inflation data.
- Opinion
- Anzac Day
Why young people embrace the emotion of Anzac Day
It’s 109 years since Australian and New Zealand soldiers climbed the steep, craggy hills at Gallipoli, but the day still has a unique hold on the nation’s soul and imagination.
‘No silver bullet’: Ukraine has weapons but still needs the troops
The $94 billion US aid package should stop Russia in its tracks, but it won’t be nearly enough to send Putin packing.
Eric Schmidt is helping build Ukraine’s war machine
Google’s ex-chief executive is a force behind a new generation of drones that may revolutionise warfare.
Get the latest business news on the go with the AFR’s new iOS app.
Companies
Aussie Broadband to call Barrenjoey, Luminis in Superloop court battle
Investment bankers and Superloop directors and executives will be subpoenaed as witnesses in a Federal Court trial as Aussie Broadband continues to fight its rival over a forced share sale.
Super Retail CEO and former exec accused of undisclosed relationship
The board and chief executive are expected to be named in a soon-to-be-lodged legal claim by Harmers Workplace Lawyers, Super Retail said.
Scott Farquhar to step down as Atlassian co-CEO
After more than two decades at the helm, the co-founder of the Nasdaq-listed software giant departs, leaving Mike Cannon-Brookes as sole charge.
Foxtel faces its streaming apocalypse
Once the country’s most profitable media group, Foxtel is losing subscribers and is facing a mega-sports rights bill. Will it make it through?
Seven settles with man it wrongly named as Bondi killer
Less than a week into the job, Seven West Media’s chief executive Jeff Howard has apologised to student Ben Cohen for the error by its flagship Sunrise show.
- Investigation
- Shares
Broking bad: ASIC ‘threat’ fears about Morgans revealed
The corporate cop dealt with problems brewing at leading stockbroker Morgans for three years before a public crackdown. New documents detail the scale of its concern.
Anglo’s stumbles made it quarry for mining’s biggest predator
Anglo American once held pride of place on the sharemarket. Now its reputation is in tatters, and BHP is ready to pounce.
Companies in the News
Search companies
View stories and data from an ASX listed company
Markets
Copper hits $US10,000 as BHP’s bid releases the bulls
Copper hit $US10,000 a tonne for the first time since 2022 as traders took BHP’s takeover bid for Anglo American as a vote of confidence for the metal.
- Exclusive
- Interest rates
RBA to lift cash rate to 5.1pc, says top forecaster
Judo Bank’s Warren Hogan, who was ranked 2023’s most accurate forecaster, predicts a resurgent economy will force the RBA to lift rates to 5.1 per cent.
Resources funds bounce back as commodity rally intensifies
Fund managers are betting on a fresh batch of copper, gold and oil producers to help lift their returns following a challenging period for commodity investors.
‘Wealth effect’: the stocks that could gain from rising house prices
Jarden highlights its best bets, saying homeowners feeling good about their property appreciation turn to spending more on big-ticket retail items.
US data shows economy in unexpected slowdown
Growth in the world’s biggest economy was slower than expected, while an acceleration in inflation reinforced expectations rates won’t be cut before September.
Opinion
Chalmers’ narrow budget path is now in peril
The sudden change in the interest rate outlook this week could be political dynamite for the Albanese government and the budget.
Editorial
Tactical Woodside vote a metaphor for Australia’s low-carbon transition
Can chairman Richard Goyder and CEO Meg O’Neill crack the problem of shifting from a carbon-intensive resources company to a green one without destroying shareholder value?
Editorial
You heard right – the RBA could raise rates again
The Reserve Bank of Australia will likely be forced to warn that it could raise rates again.
Columnist
Surge of violence tests policy tolerance of social media
The Coalition in particular has to ask tricky questions of when enough is enough on social media platforms.
Columnist
Australia’s embassy should move back to Kyiv
Most other big democracies have moved their diplomats back to the Ukrainian capital. Australia is a notable laggard.
Contributor
Why US housing remains the big obstacle to rate cuts in 2024
Investors’ hopes of rate cuts are waning, as problems in the US housing market look set to keep house price and rental inflation bubbling along.
Columnist
Politics
US ban on non-competes will likely ‘embolden’ Labor
A blanket ban on non-compete clauses in the United States is likely to embolden the Albanese government to go hard on regulating post-employment restraints in Australia, some legal experts have predicted.
Start-ups, dentists drain retirement savings in ‘super scam’
The value of super withdrawn for dental treatments nationally jumped 373 per cent to $313 million from 2019 to 2023, and Labor has warned of a potential crackdown.
Chalmers cautions on calls for welfare cash splash
Releasing a new expert report, Treasurer Jim Chalmers cautions extra help for Australians doing it tough had to be weighed against other fiscal challenges.
- Exclusive
- Harassment
Legal watchdog accused of quashing sexual assault claim
A lawyer who alleges she was sexually assaulted by a high-profile Sydney solicitor has accused the industry watchdog of blocking a full investigation.
Big super splits on performance test reforms
Labor announced it was reviewing the test after several funds said the current rules stopped them investing in the “nation building” initiatives the government wanted them to bankroll.
SPONSORED
World
‘No silver bullet’: Ukraine has weapons but still needs the troops
The $94 billion US aid package should stop Russia in its tracks, but it won’t be nearly enough to send Putin packing.
Top US judges sympathetic to Trump in historic immunity case
Conservative Supreme Court judges signalled support for the former president on his claims of protection from prosecution in a case likely to impact the US election.
Scotland in minority government after Green coalition collapses
The Scottish National Party will run the country as a minority government after its coalition with the Green party fell through over climate policy.
#MeToo setback: NY court overturns Harvey Weinstein rape conviction
The New York ruling reopens a painful chapter in America’s reckoning with sexual misconduct by powerful figures.
US secretly shipped new long-range missiles to Ukraine
Ukraine for the first time has used a longer-range version of weapons known as ATACMS, striking an airfield in Crimea and Russian troops in southeastern Ukraine.
Property
Over-50s lifestyle boss asking $27m for Byron retreat
GemLife CEO Adrian Puljich and wife Jessica list Byron estate for $27m, while mental health advocate Hugh van Cuylenburg and Penny Moody buy in Bangalow.
The apartment supply conundrum behind Perth’s housing price surge
There’s plenty of demand and many projects approved, but sky-high construction costs have left developers asking for more government money.
‘Get out now’: empty stores haunt iconic Sydney shopping streets
Retailers on Paddington’s Oxford Street and Newtown’s King Street are feeling the pinch of high operating costs and declining consumer confidence.
- Exclusive
- Luxury property
Gutted penthouse in coveted Sydney block goes on sale for $10m
The unrenovated property in Potts Point’s landmark Manar building has DA-approved plans, while a lavish Paddington home inspired by Versailles is on sale again.
Shadow of Bob Day clouds building sector as Collier Homes fails again
The former Family First senator’s WA building company, acquired out of liquidation in 2016, has once again gone under.
Wealth
Why more Australians are choosing semi-retirement
Fusing the parts of work you still enjoy with hobbies, travel and passion projects is the dream for many. Here’s how to make a go of it
Why you’ll live longer than you think (and what it means for your wealth)
Very few people die at their age of life expectancy, giving rise to financial planning’s biggest conundrum: longevity risk.
A child won a share of her dad’s estate – despite planning to kill him
A 75 per cent success rate in contesting wills is encouraging more family members to sue for a bigger share. Here’s how to protect your final wishes.
Technology
Alphabet surges past $3 trillion, announces first-ever dividend
Google’s parent company rose nearly 16 per cent after first-quarter earnings beat expectations and a $US70 billion stock buyback was approved.
- Exclusive
- Social media
TikTok Australia makes its first stand after US ban laws pass
The US congress passed a bill on Wednesday requiring TikTok to be sold within a year or be banned in the country.
‘Safe room for terrorists’: ASIO warns big tech on encryption
Federal spy and crime chiefs will demand access to social messaging systems that allow terrorists, violent extremists and child abusers to operate with impunity.
Work & Careers
Executive sues over HR gossip and surveillance
A senior executive is seeking damages over claims his employer’s human resources chief spread false gossip about him in the workplace and charged his direct report to spy on him.
Mass lay-offs at regional uni as international enrolments slump 90pc
Federation University in Victoria could be the canary in the coal mine as its international student enrolments dive.
Life & Luxury
Streeton stuns at $10m art auction
Arthur Streeton’s historic scene took top honours, but works by Bronwyn Oliver and Nicholas Harding were the big surprises.
Why Ita Buttrose used to spy on ABC hosts’ Twitter posts
The former ABC chairwoman has strong views on lots of topics, but social media use by journalists is a particular bugbear.
How to train for a marathon no matter how fit you are
It might take you a year to prepare for, but even the complete novice can work their way up to do it. Here are some tips for where to start.
This new play shows how oligarchs helped Putin – but ended up losing
Peter Morgan’s new work follows Vladimir Putin’s rise to the presidency and the Russian high-fliers who mistakenly thought he’d be their puppet.
A simple recipe for baba ghanoush with a twist
A desire to dig deeper into Lebanese cuisine is redefining Gerard’s Bistro in Brisbane.
