Risk-on back with a bang in ASX trade as world holds its breath
Iran’s rhetoric rather than action over US air strikes on its nuclear facilities and a slumping oil price have given investors all they needed to jump back into buying mode.
Business
ASX soars on peace hopes; Virgin, Greatland shares take off
Strong IPO debuts build on ASX optimism over possible de-escalation of Middle East tensions. Whyalla Steelworks’ sale process begins. CBA hits record. Rio Tinto and Gina Rinehart plan a new iron ore mine.
Military millions: the huge cost of Donald Trump’s war chest
The US’s attack on Iran’s nuclear sites involved billions for high-tech weapons and assets. From sending seven B2 stealth bombers to dropping 14 bunker-busting bombs, here’s the latest costings.
‘No time like the present’ to relist on ASX, says Virgin CEO
Virgin Australia CEO Dave Emerson has broken his silence since his appointment to the top role, as the airline relists on the ASX.
NAB wants to get a slice of CBA’s ‘digital magic’
The big banks are starting to use AI tools at scale. While this speeds up things for customers, the challenge will be to leverage the tech to deliver real cost savings.
Jeanswest rescue deal floated as iconic brand fights to find buyer
The director of iconic Australian brand Jeanswest has pitched an eleventh-hour offer to creditors as administrators struggle to find a buyer and the full picture of the brand’s unravelling is revealed.
Flights resume to Middle East and Europe
Qantas is among dozens of airlines reworking schedules after the closure and reopening of Qatari airspace with passengers assured ‘safety is their top priority’.
Victoria backs down on sweeping gas bans
The Victorian government has softened changes aimed at electrifying the state and reducing the use of gas following an outcry.
Commentary
COMMENTARY
Universities need to embrace the AI revolution – quickly
The alarm bells are ringing, with PwC noting a global survey showed that employer demand for formal degrees is declining for all jobs, but more quickly for jobs exposed to AI.
COMMENTARY
Trump gambles on oil in new financial shock
Traders have so far taken the stress of geopolitics in their stride. However, Donald Trump’s bombing of Iran will jolt markets from their complacency.
WEALTH
Crisis in Middle East could threaten super returns
Just as super returns were set to deliver another bumper year, the conflict in Iran could be the catalyst for a sell-off in investment markets.
Case cooked: Wizard of Oz Greg Coffey settles suit with chef
An aversion to headlines may have been the catalyst for the settlement of a US court case between billionaire hedge fund manager Greg Coffey and his overworked private chef.
For Betr or worse? PointsBet left puzzled by marriage proposal
Scrip, buybacks and uncertainty. Is Matt Tripp’s latest tilt at PointsBet really Betr than the cash alternative?
WA Labor’s cash machine in full view on budget day
The secrets of Labor’s success in Western Australia have been revealed, with an ATM delivery truck a clever metaphor for Treasurer Rita Saffioti’s largesse on budget day.
Football crazy CBA locks in behind Socceroos
Matt Comyn’s Commonwealth Bank looks set to score a soccer sponsorship monopoly for Australia’s national teams – but will that help or hurt the bank’s brand at the next World Cup?
Gateway on hunt for assets with new fund
After a stellar first fund, the industrial property funds house sees plenty more ways of making money, even as the cycle cools after values jumped during the pandemic.
Keppel eyes university campus buy
Education assets are continuing their hot run with Singaporean group Keppel setting the pace as it eyes a $70m acquisition in North Sydney.
Investors eye $300m slice of western suburbs retail gem
The availability of a 50 per cent stake in Bankstown Central shopping centre is timely, with the property set for a major overhaul in coming years.
Spotlight
Are these the world’s best ad campaigns?
The annual Cannes Lions International Festival of Creativity aims to recognise the best advertising from around the globe.
AusSuper, Crown and Uber CEOs to join Sky News, The Australian
Appearing after the Prime Minister’s keynote on July 4 are AustralianSuper’s Paul Schroder, Crown Resorts’ David Tsai and Uber Eats ANZ’s Ed Kitchen as Australia’s Economic Outlook returns for its fourth year.
Alarm over $14.6bn plunge in mining royalty, tax revenue
The resources sector contributed $14.6bn less in royalties and taxes to the public purse, and it wants to have a conversation with re-elected Labor about ways to do business more productively.
Crows, cricket and media stars join forces in Barossa winery buy
A group of sport, media and business identities, including Crows star Izak Rankine and cricketer Alex Carey has bought a historic winery in the Barossa Valley.
Sydney’s power shift: New airport sparks major business surge
The new Western Sydney airport is behind an enormous growth spurt for the region with a major bank revealing a stampede of new business investment away from the traditional hotspots.
The 15 highest paying tech jobs right now
These 15 tech specialist roles are nabbing six-figures salaries meanwhile entry-level roles now command an average of $80,000.
Five ways a new US war can hit your finances
From petrol prices to interest rates, if the new Middle East conflict spreads it could impact Australians’ investments and nest eggs.
The four traits of successful investors
Why do some investors make more than others? It isn’t better analysis or even experience. Nope. It’s all about your character traits. Have you got what it takes?
These 15 stocks are booming amid a ballooning of defence budgets
Defence companies have doubled in value in a year, and experts say the outlook suggests more growth ahead for investors. Here are 15 stocks on the rise.
The curious CFO: CT Johnson on listening and learning
CT Johnson’s career took him to technology startups in the US, a family office in Russia and a stint in China. His career trajectory was guided by the type of work he was most drawn to.
How CFOs can build value from tech-centered transformations
Technology alone is not a panacea for a CFO’s challenges and objectives. But it can spark the CFO’s thinking about the people, process, policy, and data changes needed for transformation.
Why CFOs need a capital allocation framework
CFOs are the linchpin of any good capital allocation strategy and will have the most influence over its design. But how do they help ensure the development of a strategy that’s fit-for-purpose?
Chief transformation officer survey: six ways to keep up with rapid change
As the influence and intensity of global disruptions increase, meaningful change calls for carefully managed transformation, surveyed executives say.
Tech Journal
Power of visualisation: good data storytelling will boost businesses
AI is making design more accessible and available. It’s up to businesses to prioritise training and make sure people have access to the right tools they can actually use.
Australia’s opportunity to lead the AI infrastructure race
Australia’s global edge in AI will rely heavily on capitalising on our abundant clean energy resources to power the data centres needed to support AI-ready data centres.
Scrap YouTube exemption to social media ban: eSafety Commissioner
Julie Inman Grant has warned that YouTube poses similar risks to most platforms, as she confirms search engines will face new rules to prevent children accessing adult content.
Pope Leo is taking on AI as a potential threat to humanity
The new pope is making artificial intelligence a signature issue —but the world’s big tech firms are already trying to win him over.
Inside Tesla chair’s slam dunk strategy
When not chairing Tesla and overseeing Elon Musk, Robyn Denholm turns to basketball, a sport which she says can teach leaders valuable lessons.
IDA ‘to fast track $50bn investment’
The new Investment Delivery Authority will accelerate approvals for projects valued at more than $1bn, including advanced technologies and energy.
Omnicom-IPG merger approved but FTC adds no boycott clause
Omnicom’s acquisition of rival global advertising company IPG has received approval from the US Federal Trade Commission but it comes with a unique clause to stop political ad boycotts.
Robert Thomson to lead News Corp until 2030
Chair Lachlan Murdoch praised the CEO’s transformational leadership and role in evolving the company to meet the demands of the modern digital age. The 64-year-old has been at the helm of News Corp since 2013.
Telstra nets film prize as impact and humour dominate Cannes
Leggett: Clemenger ready to lead the market
Up tackles split-bill stigma to lift growth
Meet the team
Vesna Poljak
Vesna Poljak is The Australian’s Business editor, based in Sydney. She was previously Companies and Markets editor at The Australian Financial Review.
Louise Brannelly
Louise has over 20 years of experience as a national content editor and business journalist. Louise is skilled in identifying and analysing audience trends with keen insight to deliver compelling journalism.
Emmaline Stigwood
As the Digital Editor of The Australian’s Business Network, Emmaline brings top-tier business journalism from across the country for News Corp’s digital mastheads, including The Australian Business Review, The Daily Telegraph, The Herald Sun, and The Courier-Mail.
The million ounce gold club
Are these the next million ounce gold explorers? Nordic Resources is on track to join the club in months if not weeks at its projects in Finland.
SQG fields strong support for Araxá
Engagement with local stakeholders in Minas Gerais, Brazil, is ramping up as St George Mining advances the Araxá REE and niobium project.
US-Iran crisis reveals US dollar’s waning safe haven status
The idea that safety only comes in one shade is no longer credible. We’re entering an era of multi-polar safe havens, writes Nigel Green.
Clock ticking on Sweden’s uranium ban
The nuclear revival sweeping Europe is bringing Sweden’s uranium mining ban back into focus, creating opportunities for Aura Energy and Basin Energy.
Original URL: https://www.theaustralian.com.au/business