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Australia Decides

Full election results

‘No change’ to Australia’s position on Taiwan: PM

PM said it’s “China that has changed, not Australia” when attributing blame for Chinese sanctions; Albanese also confirms Australia will host next year’s Quad talks; Labor confirms asylum seekers returned to Sri Lanka. Follow updates here.

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Tech drags shares lower; Barrenjoey says buy Liontown, Allkem

Miners, energy gain. Nasdaq futures -1.6pc on Snap downgrade. Meta shares plunge after hours. Qantas buys majority stake in TripADeal. Follow updates here.

The ASX’s new infrastructure giant is also a takeover target

History says The Lottery Corporation will be attractive to the big private capital players who love infrastructure-like businesses.  

AGL demands correction from Cannon-Brookes

AGL’s chairman has formally written to Mike Cannon-Brookes asking him to correct a false statement and to cease making misleading assertions about the demerger.

Second VGI breakaway firm to launch as Regal deal nears

Long-term VGI Partners fixture Robert Poiner is launching a new firm after leaving his former shop last year.

Labor opens up ‘stunning’ green investment opportunity

Quinbrook Infrastructure’s David Scaysbrook says there is enormous opportunity in power and industrial decarbonisation in Australia following the election.

Abandoning classical liberalism turns the heartland teal

It is time real Liberals stopped listening to those bastardising their party’s philosophy to shroud Luddite attitudes towards progress and veil naked bigotry, writes David Cross.

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Companies

Star promoted executives ‘beyond their capabilities’: O’Neill

Outgoing Star executive chairman John O’Neill says the company promoting people beyond their capability contributed to its wrongdoing and warned the clean out is not over yet.

Ask trucking firms what road tolls need to be, NSW inquiry urged

Logistics companies should be asked how much they are willing to pay to use toll roads so trucks don’t clog up free roads, a NSW parliamentary inquiry has been told.

TechnologyOne profit surges 18pc as transition completes

TechnologyOne has declared its transition to a software-as-a-service company complete, as revenue leapt 19 per cent in the first half.

Inflation pressure points to higher beer prices across industry

ASX-listed Good Drinks Australia has signed a $40 million deal with a NYSE-listed giant to distribute Millers, Coors and Molson in Australia.

How 10-minute grocery deliverer Milkrun grew so fast

There’s a lot riding on founder Dany Milham’s shoulders. But this 31-year-old has been here before.

Qantas buys stake in Byron Bay travel website

Qantas has bought a majority shareholding in Byron Bay-based online travel booking website TripADeal for an undisclosed sum, as it targets double-digit earnings growth in its frequent flyer segment this financial year.

Labor ‘must back coal, gas’: CEOs

The contribution the booming coal and gas export industries are making to help fund the energy transition must be recognised by the Labor government, CEOs say.

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Markets

Why Jamie Dimon says it’s different this time

JPMorgan chief executive Jamie Dimon says the ‘storm clouds’ over the global economy can dissipate. But don’t get too excited – he still thinks we’re in uncharted territory.   

Is the world’s financial system about to crash? This expert thinks so

It is entering dangerous waters again, warns Columbia professor and author Adam Tooze, a rising star of the Davos circuit and a guru of the Lehman crisis.

IMF head begs investors not to abandon crypto despite crash

The bank’s managing director Kristalina Georgieva said regulators across the globe were responsible for putting up guardrails around digital currencies.

Insiders put recession angst aside to binge on their own stocks

More than 1100 corporate insiders have snapped up shares of their own firms in May, poised to exceed the number of sellers for the first month since March 2020.

One mine auction draws 3448 bids in scramble for lithium

The 54.3 per cent stake in Yajiang Snowway Mining Development in China sold for about $420 million, nearly 600 times higher than the starting price.

Opinion

The Liberal Party lost by standing for nothing

Rather than pander to a loud and privileged elite in teal seats, the Liberal Party must start asking itself what it believes in and seeking support for policies that reflect those beliefs.

John Roskam

Columnist

Climate, housing, social policies will define Labor’s success

Anthony Albanese has a mandate to change the country – Australia needs more than another do-nothing government that shirks major reform.

Is the world’s financial system about to crash? This expert thinks so

It is entering dangerous waters again, warns Columbia professor and author Adam Tooze, a rising star of the Davos circuit and a guru of the Lehman crisis.

Ambrose Evans-Pritchard

Contributor

The cold call is back and worse than ever

We all had a break from nuisance calls during the pandemic. Now they seem even more intrusive.

Pilita Clark

Columnist

Albanese must put down a Quad marker in Tokyo

The new prime minister should use his debut on the global stage to explicitly signal that Australia’s support for the four-power regional grouping is entirely bipartisan.

The AFR View

Editorial

Nowhere to hide from the ravages of stagflation

Investors are now struggling to find attractive places to park their money. But the grim reality is that, in such periods, there are no safe havens.

Karen Maley

Columnist

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Politics

Albanese commits to ‘more resilient Indo-Pacific region’

Anthony Albanese has assured Indo-Pacific leaders of Australia’s commitment towards the region’s top security dialogue, and listed climate change as the main economic and security threat to the region’s island states.

Chalmers sees no quick fix to economic challenges

‘No government can click their fingers and all of a sudden, make a trillion dollars of debt disappear,’ says the new treasurer.

Pressure on Labor to boost pensions and paid parental leave on super

The superannuation guarantee will almost certainly increase to 12 per cent, but Labor is facing calls to pay superannuation on government parental leave.

China’s premier congratulates PM, ending years-long freeze

Beijing has urged Anthony Albanese to reflect on Labor’s past successes as the two countries forge a fresh start in bilateral relations.

Expelled anti-abortion MP declares Liberal values ‘dead’

Expelled Victorian Liberal MP Bernie Finn has declared Liberal values “dead” after being kicked out over his controversial comments including that he was “praying” for abortion to be banned in Australia.

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World

The refinery standing between Germany and a Russian oil embargo

A Russian-owned refinery, linked to a Soviet-era pipeline, is a reminder of Germany’s past and a stumbling block to efforts to cut off Russian oil.

Globalised Asia is uneasy with trade sanctions

Asian states are generally loath to alienate a major power, especially a major commodity exporter. Those that depend on Russian imports worry about the effects of shortages and price increases at home.

Are we heading for stagflation?

When people hear “stagflation”, most think of the late 1970s and early ’80s, but there’s no evidence that we’re facing anything comparable now.

Ukraine war to unleash world food crisis

Worries about the worldwide social and economic impact of the Russia-Ukraine war dominate the first day at Davos.

Goldman’s CEO calls NYC shooting of employee ‘senseless’

A gunman killed Daniel Enriquez, who joined the company’s global investment research division in 2013, on a Q train headed into Manhattan from Brooklyn.

Property

He used to work for the Pratts. Now he’s a fellow billionaire

It took patience, a passion for property and a lot of petrol-pumping for Melbourne entrepreneur Nick Andrianakos to rise to the Financial Review Rich List.

Labor’s housing policies to insulate affordable markets

Labor’s housing policies could help insulate the affordable end of the market from the housing downturn and may even trigger price increases in some areas with low supply, experts say.

MAB Corp adds $75m site to Melbourne industrial pipeline

The Cranbourne East site will support more than $400 million of industrial and logistics facilities when fully developed.

Endeavour takes charge of Darwin’s Beachfront Hotel

Hotel and liquor giant Endeavour has grown its presence in Darwin to five venues after acquiring the leasehold to the Beachfront Hotel.

Apartments in these suburbs are defying the housing slump

Apartment values rose faster than houses in 489 suburbs nationwide in the past three months, buoyed by demand in inner suburbs such as Newtown, Port Melbourne.

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Wealth

When it comes to risk of a global recession, ‘3’ is the magic number

Just as 3 per cent is a critical growth threshold, there are also three critical risks on the horizon in the US, Europe and China.

Dangerous to buy the dip on growth stocks

Over the last decade growth stocks have quickly bounced back after a setback. But what might be different this time is the outlook for inflation.

Market uncertainty a good prompt to review your investment strategy

Selling can lock in losses, particularly if the money is not reinvested until the market has recovered and confidence returns.

Technology

Airbnb gives up on China in shift to outbound travel

The San Francisco-based company will stop offering rental homes and experiences in the country which is continuing its aggressive COVID-zero approach.

Farquhar’s Skip Capital leads $20m start-up raise

The Atlassian co-founder’s investment fund has backed critical infrastructure digital twin Neara as demand surges after a number of worsening natural disasters.

Tech valuation crunch hits start-up angel deals

Angel investment deals are still getting done, but individuals are tipping in less cash, valuations have slipped and only the best companies are getting funding.

Work & Careers

Don’t know how to delegate well? Follow this four-step plan

The most common mistake is to start by handing off a task, leaving it with the person you’ve given it to and waiting to see the results.

New laws would require employers to actively prevent sex harassment

The change to laws, known as a positive duty, stem out of Labor’s pre-election commitment to fully implement all 55 recommendations from the [email protected] report.

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Life & Luxury

What drives up your cholesterol really?

Researchers say you should avoid boiled or plunger coffee because it raises your levels more than other kinds. But should blame the biscuit instead?

Can Citroën win you over with this ‘mash-up’ car?

It’s not too dear, it has nice design touches, and promises a magic carpet ride. So, what’s not to like about the Citroen C4 Shine?

ACO Underground returns with rock, pop and shock at posh venue

The Australian Chamber Orchestra’s creative wild child will be let loose once more on June 4, this time at the band’s sleek new digs in Walsh Bay.

Can this woman’s prestige perfume really change your energy?

Australian stylist Yasmin Sewell built her career in London, discovering new designers and redefining what it is to be cool. Now she’s turning to scents.

Why this CEO wants to go running with Elon Musk

Bondi Sands chief executive Shaun Wilson is a disciple of “mindful running”. He thinks it would benefit Tesla’s boss, too.

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