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Big four accountants could face partner limits in governance crackdown
The big four accounting firms could be forced to slash partner numbers and incorporate their consulting businesses under a crackdown on governance standards flagged as a possible response to the PwC tax leaks scandal.
- Opinion
- Chanticleer
Blood in the water: Star needs a CEO to stop sharks tearing it apart
Star’s board, beaten and bruised, has a short window to try to keep the entity together. If it misses this, sharks will move in. They’re already circling.
RBA urged to make up its mind as drums beat for more tightening
Futures indicate the benchmark S&P/ASX 200 Index is poised to rise 0.3 per cent at the start of trade on Monday, before the RBA’s May rates decider.
Sanjeev Gupta calls in rival to help Whyalla steelworks strife
Steel traders say customers of the Whyalla steelworks, which has been offline for almost two months, are ordering supplies from Asia amid uncertainty over a restart date.
- Exclusive
- Interest rates
RBA rate rise shock is being underestimated, history shows
It has raised interest rates almost every time in the last 25 years that it has faced the current high quarterly inflation figure immediately before a board meeting.
This BHP old boy thinks copper and rare earths prices will spike
Arafura Rare Earths boss Darryl Cuzzubbo says higher prices are inevitable for two commodities vital to the energy transition.
Allan flags budget handouts amid debt, inflation warnings
Premier Jacinta Allan vowed her government would not “put our heads in the sand” over a 20 per cent cost blowout in Victoria’s $80 billion project pipeline when the budget is handed down on Tuesday.
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monday media
Ad giant Dentsu’s epic losses no big deal for Japanese parent
Dentsu spends more than $1 billion every year in Australia on behalf of its clients, including Woolworths. It has lost $170 million over the past three years.
Stokes lieutenant Anthony De Ceglie wants a ‘unified voice’ at Seven
Seven West Media’s first company-wide editor-in-chief is now in charge of more than 30 news sites and 16 hours of news coverage every day.
Tax Office investigating Lachlan Murdoch’s Nova radio assets
The parent of SmoothFM revealed it is under an ATO microscope, hauling in PwC for tax compliance services.
Ten settles its Lehrmann bill, but from a shrinking purse
New accounts show Ten had almost $1 million set aside for litigation and legal bills before the Bruce Lehrmann defamation matter officially began.
Moguls circle as Telegraph, Spectator go up for sale again
Rupert Murdoch could launch a bid for the Spectator magazine, after an Abu Dhabi-backed consortium threw in the towel.
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Companies
Sanjeev Gupta calls in rival to help Whyalla steelworks strife
Steel traders say customers of the Whyalla steelworks, which has been offline for almost two months, are ordering supplies from Asia amid uncertainty over a restart date.
Star Entertainment debt investor tries offloading stake
At least one lender is feeling nervous after the list of executives leaving Star got bigger, and its shares fell 20 per cent in the past month.
Backers of takeover target Austal want Hanwha in the race
Austal shareholders say the opening shots in takeover battle for the defence ship builder have fallen well short of the mark, but granting due diligence would be a start.
McGuigan owner Australian Vintage dumps CEO over ‘conduct’ issues
The ousted CEO of Australian Vintage, Craig Garvin, is ‘considering legal options’, while the chairman says his exit won’t have an impact on merger talks with Accolade.
- Analysis
- Due diligence
Time for Rio Tinto dual-listing rethink with Anglo American in play
Trading the spread between the value of Rio Tinto’s dual-listed London and Australian shares is usually the province of specialist arbitrage funds. But BHP’s tilt at Anglo American has it back in focus.
- Opinion
- Chanticleer
Big banks hand out the treats to keep investors sweet
The banks have a few lollies for shareholders. NAB’s was capital management, Westpac is likely to follow suit.
Ten settles its Lehrmann bill, but from a shrinking purse
New accounts show Ten had almost $1 million set aside for litigation and legal bills before the Bruce Lehrmann defamation matter officially began.
Companies in the News
Search companies
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Markets
- Exclusive
- Interest rates
RBA rate rise shock is being underestimated, history shows
It has raised interest rates almost every time in the last 25 years that it has faced the current high quarterly inflation figure immediately before a board meeting.
This BHP old boy thinks copper and rare earths prices will spike
Arafura Rare Earths boss Darryl Cuzzubbo says higher prices are inevitable for two commodities vital to the energy transition.
Yellen counsels caution on currency intervention after surge in yen
The US treasury secretary said ‘we would expect these interventions to be rare and consultation to take place’.
- Opinion
- Investing
The succession wisdom of an iconic value investor
Fund manager Richard Pzena has made some tricky decisions during his career. But one he is particularly proud of is to act early on succession: his, writes Jonathan Shapiro.
Warren Buffett says AI may be better for scammers than society
The billionaire investing guru predicted scammers would seize on the technology, and may do more harm with it than all the good already realised or envisioned.
Opinion
Bullock and Lowe share blame for sticky inflation
Michele Bullock and Jim Chalmers had fair warning about the need for decisive action.
Economist
Make this the tipping point on domestic violence
A tighter judicial system, support for families forced to leave violent homes, long-term culture change, and more sophisticated use of data and prediction. Nothing can be left off the table in tackling terror at home.
Editorial
There is so much to be done on violence against women
Maintaining the momentum of this week’s announcements after decades of neglect is the biggest issue facing the anti-violence movement.
Columnist
Albanese needs to get off the fence on antisemitism
Readers’ letters on the Israel-Gaza conflict, the government’s fight with Facebook, and a knotty royal problem.
Contributor
Look to South America to see Made in Australia in practice
The Albanese government’s Peronist-like policies won’t add to growth and investment, despite the prime minister and treasurer’s rhetoric.
Columnist
Europe should brace itself for a Trump victory
The difference between 2024 and 2016, when Trump last won the presidency, is that this time he has a plan. From Europe’s perspective, it would look like Fortress America.
Columnist
Reports
BOSS Best Places to Work
The awards celebrate the achievements of the best small, medium and large organisations and nine sector winners.
Politics
Labor to wipe $3b from students’ HECS debt
The government will cut the student debt of around 3 million students as cost-of-living pressures continue to create pain.
Allan flags budget handouts amid debt, inflation warnings
Premier Jacinta Allan vowed her government would not “put our heads in the sand” over a 20 per cent cost blowout in Victoria’s $80 billion project pipeline when the budget is handed down on Tuesday.
‘Made in Australia’ won’t trigger subsidy arms race, minister says
Industry subsidies used to be taboo in the trade world. But Tim Ayres, spruiking the government’s new industrial policy in Europe, says things have changed.
More congestion, more profit: ex-CEO slams Sydney interchange plan
Ex-NSW roads executives say the controversial Rozelle Interchange was designed to have more congestion to increase the value of WestConnex before it was sold.
- Exclusive
- Tax avoidance
Tax office moves on administrators in ‘$180m tax fraud’
The administrators of a formwork company involved in what could be the country’s biggest tax fraud are facing court action for reducing an $11 million payroll tax debt to just $1.
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World
Macron set to press visiting Xi on trade, Ukraine
France is backing a European Union probe into Chinese electric vehicle exports and in January Beijing opened an investigation into imports of brandy.
Russia using WW1 chemical weapons in Ukraine: US
The US made the accusation as the French president stepped up calls for Europe to consider sending troops to Ukraine in the future.
Fake videos of Modi aides trigger political showdown in India election
Indian police arrested at least nine people, including six members of Congress’ social media teams, in the states of Assam, Gujarat, Telangana and New Delhi.
- Opinion
- East Asia Forum
Japan’s outdated policies keep too many women out of workforce
Japan has few options to prevent the labour supply from diminishing to a disastrous level. The underutilised potential of women offers room to lift productivity.
Tories suffer historic losses in UK local elections as voters revolt
The Conservative have lost dozens of seats on local councils - a result that suggests the party faces one of its biggest-ever defeats in the upcoming general election.
Property
- Exclusive
- Luxury property
Toorak power couple buy Nick and Camilla Speer’s $25m Portsea pad
Private equity executive Nick Speer and wife Camilla have sold their Portsea holiday compound Rovina to Toorak’s Sophie Oh and Grant Rule.
‘Tired’ deceased estate sells for $1m more than guide
Auction clearance rates rose at the weekend despite a 10pc increase in listings. Buyer’s agent David Morrell says good properties are “flying out the door”.
- Exclusive
- Property development
Red tape puts Labor’s $10b HAFF housing plan at risk
The federal government, set to fall 300,000 homes short of its 1.2 million target, faces another hurdle over workplace health and safety certification.
Centuria lifts glasshouse portfolio to $450m with big Vic acquisition
Centuria has paid about $100m to buy the Katunga Fresh glasshouse facility in a sale-and-leaseback deal with the Van den Goor family.
Why city boltholes are the next must-have for Baby Boomers
A new wave of apartment buyers could fuel stiffer competition, experts say.
Wealth
Boomers direct spending to kids and grandkids
Financial advisors report many over-65s are helping family members rather than splurging – though travel is a thing.
‘Larger than life’: packed memorial farewells Lang Walker
Friday’s two-hour public service for the property developer and Rich Lister, who died in January, was attended by a who’s who of Australian business and politics.
Inside Australia’s most luxurious retirement pads
Rooftop pools, plush libraries and temperature-controlled wine cellars – welcome to deluxe retirement living.
Technology
615,000 customers locked out of super accounts by Google fail
The super fund has blamed Google’s cloud computing services for the prolonged outage.
- Opinion
- Digital Life
Why Apple’s earnings call gives us hope for more exciting new devices
iPad and iPhone sales have dropped. But Tim Cook said something that could make us all want to upgrade, writes John Davidson.
‘Country mile ahead’: How PsiQuantum won a $1b investment
Chief scientist Cathy Foley said US-based PsiQuantum showed it was a “country mile” ahead of other Aussie companies in trying to build a world-first quantum computer.
Work & Careers
Pioneering CEO reveals the truth about four-day work weeks
Workplace consultancy Inventium was the first company in Australia to adopt a shorter schedule, but three years later it is not on track to hit its targets.
How this musician landed a job in AI that didn’t exist a year ago
Welcome to our fortnightly AFR series featuring professionals who have made a big career leap into the unknown.
Life & Luxury
Luxury price increases leave gap for Australian brands
Luxury goods are more expensive than ever. Customers are still buying – but they’re also looking for alternatives.
- Opinion
- Style
Fashion is a way to stand out. But sometimes camouflage is better
I was diagnosed with stage one hormone receptor-positive breast cancer in December. It’s the good kind, as these things go.
This week’s edit of lovely luxuries for Mother’s Day
From active mums to working mums and even sleep-deprived mums, we have inspired gift ideas for the maternal figure in your life right here.
‘I loved’ my old accounting job – surprise confession from opera star
Baritone Teddy Tahu Rhodes is nostalgic about his days working with spreadsheets before he quit the world of finance to fulfil his musical ambitions.
The nine things every man needs to know about prostate cancer now
Experts at the cutting edge of new research into the causes and treatments answer the questions you might be afraid to ask.
