$330b for new weapons to stare down China threat
Defence Minister Richard Marles says Australia faces a precarious decade, by the end of which defence spending will be about $100 billion a year.
- Opinion
- Chanticleer
Wall Street icon Lee Ainslie: it’s a historically good time to invest
The founder of Maverick Capital and former Tiger Cub says there are four reasons active managers are well-placed, including higher rates.
- Investigation
- Food & drink
Jon Adgemis’ high-wire act is coming unstuck
The former KPMG dealmaker burst onto the hospitality sector after buying up a string of venues. Huge debts and angry lenders are threatening to push it over.
‘Take a chill pill’: Graeme Samuel urges calm on environment law delay
Former competition tsar Graeme Samuel has urged conservation groups to “take a chill pill”, and for miners to stop talking “rubbish” on plans to overhaul federal environment laws.
- Opinion
- Israeli-Palestinian conflict
Why the world needs a ‘three-state solution’
There is probably no hope for any resolution of the Israeli-Palestinian or Israel-Iran conflicts without leadership change in Tehran, Jerusalem and Ramallah, writes Thomas L. Friedman.
ASX rout extends; Star chair steps aside from Bendigo & Adelaide Bank
Shares swung between losses and gains before ending in the lower; BoQ earnings not as bad as feared; Rio Tinto output slips; Gina Rinehart buys stake in Lynas. Follow here for more.
Westfield Bondi Junction to reopen with increased police presence
The shopping centre where six people died from a stabbing attack will be open on Thursday for a reflection day before normal trading resumes on Friday.
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lehrmann verdict
Ex-Seven producer demands compensation, apology from Seven
Taylor Auerbach, who helped secure Bruce Lehrmann for an exclusive Spotlight interview, says he has been proven right by the Federal Court’s decision on Monday.
A rape, a cover-up narrative and a political firestorm
“Tonight, claims of rape, roadblocks to a police investigation, and a young woman forced to choose between her career and the pursuit of justice”. That is how Ten introduced its interview with Brittany Higgins.
- Analysis
- Legal industry
Bruce Lehrmann’s lawyer, Mark O’Brien, is on a losing streak
Losses in high-profile cases have experts wondering if Sydney’s client-friendly defamation culture is changing.
- Updated
- Lehrmann trial
Higgins, Sharaz should settle with ‘vindicated’ Reynolds: Dutton
The opposition leader says Brittany Higgins and her fiancé David Sharaz should settle the senator’s defamation actions against them and issue a “full apology”.
- Opinion
- The AFR View
Forensic judgment proves rape, debunks political cover-up
Justice Lee’s factual pushback at some of the unthinking cultural warfare that has overwhelmed politics and media in recent times has performed a great service.
sydney shock
Attacks shake Sydney to the core
The NSW capital is reeling in the aftermath of the Bondi Junction massacre and a terror stabbing of a church minister in front of his congregation.
Leaders condemn terror attack, call for calm
Political and religious leaders have called for calm after a shock stabbing in a Sydney church has put some communities on edge for reprisals.
Muslims fear rise in Islamophobia as tensions run high after attack
There are fears in the Muslim community that law enforcement’s labelling of the stabbing of a bishop a terrorist attack will inflame Islamophobia.
Westfield, retailers at odds over pre-attack drills
Days after six people were fatally stabbed at a Westfield Bondi Junction, it has been revealed it did not perform drills on how to respond to such a threat.
Bondi attack shows lone-wolf threat changing: experts
Police forces need to beef up co-operation between units focused on domestic violence, hate crimes and fixated persons, criminologists say.
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Companies
Star inquiry fallout spreads to Bendigo bank board
Wednesday’s hearing was interrupted when Star’s solicitors released documents to the inquiry related to its former CFO, Christina Katsibouba.
Rio Tinto playing catch up on iron ore
Mining giant Rio Tino has maintained full-year guidance for its flagship iron ore operations despite a dip in shipments in the first three months of 2024.
BHP tied to gas until 2053 as power need swells on electric fleet
Decarbonisation of Australia’s biggest export industry will require almost seven times more power and BHP wants gas to play a role until at least 2053.
- Analysis
- Supermarket inquiry
What is the true measure of a grocer’s profitability?
There’s solid ground to dismiss Nick McKim’s use of return on equity. But his audience is not wonky accountants – it’s disgruntled punters facing higher bills.
- Updated
- Supermarket inquiry
Woolworths, Greens in fiery clash on profits
Outgoing Woolworths boss Brad Banducci was threatened with six months in jail for contempt of the Senate, in a fiery Senate hearing that went off the rails on Tuesday.
Jarden’s local investment bank turns profit after heavy cost cuts
Its co-chief executive, Aidan Allen, said the company had seen off deferred payments that had been a drag on profit since its inception almost four years ago.
Former Star CFO alleges the company tried to cook the books
Christina Katsibouba, who quit last month, told an NSW inquiry into the casino that her former boss did not want to be transparent about debt troubles.
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Markets
ASX stocks at risk from Ozempic – and ResMed isn’t one of them
Morgan Stanley brokers say the explosion of interest in the weight loss drugs will be far bigger than first thought. And these major companies could get hit.
Sticky inflation could cause sharemarket sell-off: IMF
The IMF’s warning came alongside new forecasts showing the Australian economy will grow at a historically slow pace this year.
- Opinion
- Global economy
Who is the ‘massive player with deep pockets’ behind gold’s surge?
A powerful force is stalking the world’s gold market and it is operating in the shadows. Whoever it is – or they are – seems insensitive to cost, writes Ambrose Evans-Pritchard.
- Opinion
- East Asia Forum
How long before the yen is again a safe-haven bet?
If inflation remains positive and interest rates continue to rise, the yen is likely to eventually strengthen, writes Shiro Armstrong.
LPE in River Capital’s cross-hairs after CEO sacking
The dismissed CEO of ASX-listed electricity company LPE supports Tuesday’s takeover bid by River Capital, which bought his shares.
Opinion
Powell worsens the carnage in bond markets
The US Federal Reserve chairman’s comments triggered a further sell-off in bonds, deepening the pain for investors who placed big bets that 2024 would see interest rate cuts, writes Karen Maley.
Columnist
Where Australia is getting it wrong on critical minerals
A new report argues that the government’s focus on domestic production and exports is failing to adequately help develop a secure network of supply chains with other countries.
Columnist
Why the world needs a ‘three-state solution’
There is probably no hope for any resolution of the Israeli-Palestinian or Israel-Iran conflicts without leadership change in Tehran, Jerusalem and Ramallah.
Contributor
Attacks shake Sydney to the core
The NSW capital is reeling in the aftermath of the Bondi Junction massacre and a terror stabbing of a church minister in front of his congregation.
Senior writer
Forensic judgment proves rape, debunks political cover-up
Justice Lee’s factual pushback at some of the unthinking cultural warfare that has overwhelmed politics and media in recent times has performed a great service.
Editorial
Sustainable aviation fuel has been a talkfest for far too long
For a government that has flagged its commitment, there is surprisingly little policy. Australia still produces no SAF – and has no fully funded projects.
Senior reporter
Politics
Aussie resources ‘under assault’ from China: US ambassador
US ambassador Caroline Kennedy has warned state-owned Chinese companies in Indonesia were destroying communities “under the guise of economic development”.
‘Risk of regulatory capture’: ASIC hits back at audit criticisms
The watchdog is facing calls to regulate financial reports, sustainability reporting and audit quality.
Environment revamp on hold after WA alarm
The Albanese government has delayed indefinitely the overhaul of laws designed to protect the environment after lobbying from WA Premier Roger Cook.
- Updated
- Lehrmann trial
Higgins, Sharaz should settle with ‘vindicated’ Reynolds: Dutton
The opposition leader says Brittany Higgins and her fiancé David Sharaz should settle the senator’s defamation actions against them and issue a “full apology”.
Albanese adds $585m to Australia-made drive
The prime minister is travelling to Queensland to announce two critical minerals projects as part of his Made in Australia push.
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World
New Yorkers’ unvarnished views of Donald Trump aired in ‘hush money’ trial
Hundreds of potential jurors are being sifted through as the court faces a huge challenge selecting more than a dozen people from heavily Democratic Manhattan.
- Opinion
- Manufacturing
Manufacturers must face up to new wave of Chinese competition
The US and Europe have focused heavily on the need to “de-risk” supply chains away from China. But it’s hard for international industrial players to leave.
Horror fire engulfs Copenhagen’s historic stock exchange
Shocked passers-by raced to save artwork and treasures from the 400-year-old stock exchange building as its spire collapsed in flames.
- Analysis
- Israeli-Palestinian conflict
A US diplomatic victory of uncertain staying power
Joe Biden hoped the successful defence against Iran’s attack on Israel could give the major actors enough to claim victory and walk away. But Israel does not work that way.
China GDP grows faster than expected on fresh stimulus
The Chinese government is drawing on infrastructure work - a well-used playbook - to help lift the economy, as consumers remain wary of spending and businesses lack confidence to expand.
Property
Westfield, retailers at odds over pre-attack drills
Days after six people were fatally stabbed at a Westfield Bondi Junction, it has been revealed it did not perform drills on how to respond to such a threat.
Toplace creditors vote to defer liquidation in hope of better return
Creditors of the collapsed developer founded by wanted fugitive Jean Nassif have voted for a scheme that may get them a better payout.
AI boom drives $174m data centre deal on 3.6pc yield
Macquarie Technology Group will acquire the Intellicentre Campus at Macquarie Park from Singapore’s Keppel DC REIT as it looks to lift data storage capacity.
- Exclusive
- Hotels
Gold Coast chicken farmers spend $45m on Brisbane hotel
The Singh family has bought the 179-room former Pacific Hotel in Spring Hill and converted it to a Mercure hotel to be operated by Accor.
Warehouse construction to surge again, but no oversupply fears
Warehouse completions fell by almost 1 million square metres last year, but the stabilisation of debt and construction costs will fuel a strong rebound.
Wealth
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.
Mark escaped mortgage prison. Thousands more remain trapped
Brokers say “lowball” valuations are on the rise as home owners struggle to refinance.
Nine of the best games to play to supercharge your investing
What if you could learn everything you need to know about investing by playing a few board games? Here are nine that will give you a head start.
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.
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.
- Opinion
- Digital Life
A router that will (eventually) make your home Wi-Fi fly
Can you save money and improve download speeds, both at the same time? With WiFi 7, we think you can.
Work & Careers
Great work: Gen Z’s anti-hustle ethos may hurt their careers
A new survey shows the number of anti-hustle job ads has risen 30 per cent since the pandemic as employers emphasise work-life balance to entice young workers.
‘Two way street’: Umpire rules WFH push ignores face-to-face benefits
The Fair Work Commission has backed staff returning to the office for collaboration after dismissing a bank employee’s bid to work from home to care for his family.
Life & Luxury
The godfather of Australian beer, Chuck Hahn, is not done yet
Anyone who has ever tried a Hahn, James Squire, Kosciuszko, Malt Shovel or Lord Howe Island-branded beer has directly sampled the brewmaster’s handiwork.
Salman Rushdie’s memoir is horrific, upsetting – and a masterpiece
In “Knife”, the author recounts his wounds and recovery in graphic detail, a documentary record which he leavens with humour.
A luxurious weekend in Singapore – yet off the beaten track
It’s easy to stick to hectic Orchard Road or Marina Bay on a fleeting visit to the city state. But a quieter, more authentic enclave awaits you, too.
The Joe Biden guide to dressing younger
When Donald Trump derides his rival as doddering Uncle Joe, he is missing a point any tailor would point out – there is getting old, and there is looking old.
Surfing’s GOAT, Kelly Slater, hangs up his wetsuit
While the 11-time world champion did not officially announce his retirement, Slater said he was heading into a new chapter of his life.