Investors brace for bruising earnings season as stocks teeter
Investors are treading carefully this reporting season as overly optimistic earnings expectations baked into the sharemarket could come unstuck.
- Analysis
- Food & drink
How the Domino’s Japanese dream died
The pizza business failed to recognise that Japan’s explosive growth in lockdown was due to its convenient delivery service rather than a shift in consumer taste.
- Opinion
- Chanticleer
Car yards are full and dealers worry they are racing to the bottom
There’s been little economic data to offset expectations that the RBA needs to raise interest rates. A review of conditions at car dealerships caught our eye.
Meet the secretive US billionaires bidding for Fletcher’s Tradelink
The final bidder turnout shows Tradelink has emerged as a trade play, albeit one that has attracted an interesting cast of characters.
The price rises creating a dilemma for the RBA
High inflation for items that interest rates have little control over, such as education, healthcare and insurance, will force the RBA to consider squashing harder on the prices of other items.
Big Glencore shareholders want to keep coal
An influential group of Glencore shareholders want the company to abandon a plan to spin-off its coal division, and allocate those earnings to new avenues of growth.
- Opinion
- Chanticleer
CBA isn’t the only valuation puzzle for Australia’s biggest LIC
AFIC has almost $1 billion tied up in CBA stock, and is watching its eye-watering valuation closely. But it’s not CEO Mark Freeman’s only worry.
Wealth Generation: News and views to help aspirational investors grow their wealth. In your inbox every Wednesday.
paris 2024
How the early gold rush is spurring the Aussies on
A gold that has been 12 years in the making for kayaker Jess Fox, and celebrity spotting at the gymnastics. Here’s what you missed overnight.
Why Jess Fox’s long-coveted gold came at just the right time and place
The talismanic Aussie kayaker was buoyed by the huge support from the green-and-gold fans. But the French cheered her on too – she’s almost one of their own.
French swimming sensation rises as star of the games
Leon Marchand has drawn comparisons to American champion Michael Phelps and has lived up to those staggering expectations with his first gold medal on day two.
Aussie women set up golden freestyle showdown
The women’s 200m freestyle final is shaping up as the mother of all club meets between training partners Ariarne Titmus and Molly O’Callaghan.
Biles outshines star-studded audience in Olympic return
Lada Gaga, Ariane Grande, Anna Wintour and even Baz Luhrmann were among the celebrities on hand to see Simone Biles Olympic return.
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Companies
APRA holds banks’ mortgage rate buffer at 3pc
APRA said an uncertain economy, geopolitical instability, high household debt and inflation remain key risks for banks, compelling it to keep the loan buffer intact.
Inside the stoush between private hospitals and health insurers
As finances deteriorate, insurers and providers are slugging it out over how to overhaul a healthcare system which has not seen serious reform in decades.
Adore Beauty hires ex-General Pants CEO to lead recovery
After selling General Pants to Richard Facioni’s Alquemie Group, Sacha Laing has jumped ship to run the online beauty company.
Genesis Capital ups bid in private equity battle for Pacific Smiles
The kingmaker in the battle for Pacific Smiles and its 136 dental centres is co-founder Alex Abrahams, who expects more “twists and turns” to come.
ASX to expand into carbon, gas futures trading in transition payday
The market operator expects to list a gas futures contract in August, and is working with the clean energy regulator on a market for carbon credits.
- Opinion
- Big four
It’s the bond trader that’s overvalued, say Buffett and Gorman
As ANZ’s board battles to contain an escalating bond trading scandal, it must decide whether it could have been avoided and whether it was worth the trouble.
ATO ready to send companies broke rather than wait for tax
Black Brewing Co stopped paying the tax office for almost a year and ultimately joined the dozens of craft brewers who have gone bust. The ATO will not budge.
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Markets
ASX climbs amid broad rally; Fletcher slumps after profit hit
Shares advance; Adore Beauty names Sacha Laing as chief executive; Fletcher expects $NZ30m hit to earnings; Kogan sees ‘positive trend’ in sales; Bitcoin hits six-week high. Follow here for more.
Fund suspended from accepting new money after NDIS closures
Property investment platform Domacom has been blocked from raising new funds following a Financial Review probe into aggressively marketed NDIS investments.
Australians welcome Trump’s pro-crypto stand
Crypto traders say Donald Trump’s pledges to end the “persecution” of the industry and sack SEC chairman Gary Gensler are a good start.
The biggest risk in a Trump-Harris race for the White House
New York-based Australian fund manager Matthew McLennan from First Eagle argues that the lack of a fiscal hawk in the presidential race works in gold’s favour.
Perennial prepares to unleash war chest on small caps
After a bruising few years for the money manager’s smaller companies fund, Andrew Smith is readying his team for the next big buy: the August reporting season.
Opinion
Will Albanese’s ‘no losers’ reshuffle be enough?
The former workplace relations minister who let the law-breaking CFMEU off the leash by abolishing the Australian Building and Construction Commission has been put in charge of policing the nation’s borders.
Editorial
‘Humaning’ and other nonsense: why we put up with corporate twaddle
Office jargon will always be unstoppable because it makes us feel more secure, more of an insider and more able to tell someone something pronto.
Columnist
How to burst the CFMEU’s balloon for good
Press the construction union, and it simply bulges up somewhere else. More tools are needed if the union’s long-term culture is to change.
Industrial relations expert
Uranium mining bans belong to a previous era
Labor’s efforts to keep Australia’s energy transition uranium mining-free amount to a self-defeating hobbling of the nation’s green superpower hopes.
Editorial
Why the case for an August rate rise has been overdone
The RBA missed its chance to lift rates at the end of last year. Raising them now will be much harder to explain.
Economist
Why east coast energy woes won’t hurt green industry plans
Many projects in the new industries can be located where they are welcomed, and away from the current grid.
Former ACCC chair
Reports
Cybersecurity and AI
The federal government lays out plans to help boost the nation’s cyber defences, while experts outline steps to stay safe.
Politics
New ministers target CFMEU, people smugglers and Greens
Murray Watt cited a CFMEU clean-out as his number one priority, Clare O’Neil refused to yield to the Greens on housing, and Tony Burke headed to Indonesia to talk tough on people smuggling.
Joyce’s talk of bullets and ballot boxes enrages PM
Anthony Albanese called on Peter Dutton to dump Barnaby Joyce for using “completely unacceptable” language at an anti-offshore wind rally.
Revolving door of PMs embarrassed Australia: Albanese
Anthony Albanese has acknowledged Labor’s contribution to the chaos that blighted Australian politics for almost two decades.
The grassroots campaign targeting a Labor weak spot
Keep The Sheep has raised close to $450,000 since it was founded earlier this year, and is promising to target federal Labor seats in Perth.
- Opinion
- Federal election
O’Neil jumps from the frying pan to the fire in deft reshuffle
Anthony Albanese’s reshuffle is a deft piece of people management. No-one can really argue they’ve been demoted, and it plugs holes that needed to be plugged.
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World
Israel hits Hezbollah for Golan carnage, but eyes Gaza truce talks
PM Benjamin Netanyahu has vowed to exact a ‘heavy price’ from Hezbollah, which has been trading fire with Israel across the Lebanese border in solidarity with Hamas.
Meet J.D. Vance’s ‘cool’, ‘woke’ wife
Usha Chilukuri is a daughter of Indian immigrants, a vegetarian, an accomplished Yale-educated lawyer who has “never gotten a B her entire life”, and who friends say leans liberal.
- Analysis
- US election
Kamalanomics: Harris’ economic vision for America’s middle class
The Democratic campaign will challenge Donald Trump’s claims to represent working people and secure Joe Biden’s legacy.
Quad expands maritime coverage to combat China aggression
Quad member countries will expand their maritime data sharing program as China’s aggression in critical waterways ramps up.
Harris raises more cash in a week than Trump, Biden in a month
Michael Tyler, the Harris campaign’s communications director, called the $305 million raised a “record-shattering haul”.
Property
Thai family targets distressed sellers for luxury hotel growth plans
Earp Siriphatrawan, whose family owns the 415-room Amora Jamison Sydney Hotel, says distressed vendors have created a buyer’s market.
Vendors need to rein in price expectations says Ray White boss
While auction clearance rate are holding up well and standout results on some properties are being achieved,
Costa family puts Victoria’s biggest tomato farm on the market
goFARM, a joint venture between the Costa family and Liam Lenaghan, is selling 4,855ha Winlaton Farms which grows field tomatoes sold to Kagome.
- Opinion
- NSW residential property
Considering buying a rental property in NSW? Think again
NSW Premier Chris Minns plans to ban at-will evictions of tenants. The policy is unfair on owners.
QIC loses real estate chief, recruits ex-Dexus executive
QIC Real Estate managing director Michael O’Brien resigned from his role earlier this week.
Wealth
Ten books that could help you become a better investor
We asked money managers, financial advisers and a self-made multimillionaire to nominate the books that taught them the most about creating wealth.
- Opinion
- Super Q&A
Why the beach house might be cramping your retirement style
Holiday homes are great, but they don’t produce retirement income and might limit your age pension payments.
Six questions to ask your adult kids before writing a will
Not everybody has the financial literacy and emotional intelligence to handle a significant inheritance.
Technology
- Exclusive
- Funding
How Melbourne start-up’s gamble created a $34m business
A risky plan to cut off a $4 million revenue stream and rebuild their software company has paid off handsomely for two Melbourne-based tech entrepreneurs.
- Exclusive
- Mergers & acquisitions
Melbourne start-up buys out AI compliance software firm in first deal
IntelligenceBank has used the funds raised from its US-based private equity backer to splash out on Sydney-founded Red Marker, from global education giant Kaplan.
Workers are using AI in the office - but where are the rules?
Companies are starting to measure gains from generative AI. But research shows over half of Australian workers are using the technology without rules or guidance.
Work & Careers
‘I’m going to get a margarita, and I’ll be back’: why CEOs work on holidays
With remote work now the norm for large numbers of professionals and connectivity at near constant levels, for many senior people in business, switching off completely is unrealistic.
Martin Indyk, Australian diplomat who pursued Middle East peace, dies at 73
Raised in Sydney’s Castlecrag, the diplomat who helped steer Middle East policy under two US presidents, has died. “He’ll be remembered for his commitment to the cause of Israeli-Palestinian peace, which in the end broke his heart.”
Life & Luxury
- Analysis
- US election
‘Um, so what is brat?’
The British pop star is providing the soundtrack to Kamala Harris’ presidential campaign.
Cartier goes in new direction with a watch that goes anticlockwise
One of this year’s most buzzed-about releases, the limited-edition Cartier Santos-Dumont Rewind, is heading to Australia.
The Cybertruck is a culture war on wheels
Elon Musk’s Cybertruck is inspiring a lot of strong feelings.
Is this the craziest sneaker you have ever seen?
Swiss sneaker maker On is hoping the Cloudboom Strike LS will have the same disruptive effect on the sneaker market that Elon Musk’s innovation had on the car world.
What it’s really like when you write a bestseller
Bonnie Garmus’ late literary success has been welcome but not as she imagined.
