- Exclusive
- Funding
Brisbane couple builds tech giant on the quiet
The hunt for the next Atlassian could be over after Paul and Sonia Stovell’s little-known Octopus Deploy closed a $221m funding round, making it one of the biggest Australian tech VC investments.
- Live
- Markets Live
ASX to fall 1.2pc; BHP pumps out iron ore as price soars; Netflix down
Australian shares were poised to open 1.2 per cent lower, according to the futures market, following a fall on Wall Street; BHP edges closer to beating iron ore export target; Netflix shares sink after missing subscriber target.
Former policeman Chauvin convicted of murder in Floyd case
A 12-member jury found Derek Chauvin criminally liable in George Floyd’s death after considering three weeks of testimony from 45 witnesses.
- Live
- Need to Know
Floyd verdict ‘a giant step forward’: Biden
US President Joe Biden weighs in on the conviction of the former police officer who was overnight found guilty of killing George Floyd. Labor says the government is “fudging” vaccine timelines. Follow updates here.
BHP on track to beat iron ore target as price surges again
BHP is within striking distance of beating its full year iron ore production target as prices for the commodity surged again.
- Investigation
- Big four consultants
KPMG’s catalogue of sexual harassment, bullying complaints
The consulting giant received almost 100 workplace accusations between 2014 and 2019, raising questions about what the firm is doing to address them.
Plans for European Super League crumbling
Chelsea and Manchester City began preparing documentation to withdraw from the competition, with others set to follow.
The untold story of how two university friends hatched the perfect crime only to be undone by the desire for more.
BOSS: BEST PLACES TO WORK
Why SEEK is Australia’s best place to work
Going all out in support of its staff during tough times was a winning strategy for SEEK, which seized the top spot at the AFR BOSS Best Places to Work awards.
Five of the best perks offered by Australia’s top workplaces
Australia’s best workplaces had to react quickly to the pandemic - here’s how they got creative to ensure their staff were looked after.
How we picked the best places in Australia to work
The AFR BOSS Best Places to Work list relied on 10 key factors that are critical to employees feeling motivated and engaged at work.
Professional services: PwC rewires the notion of the workplace
PwC had always constantly surveyed its people to discover levels of engagement and satisfaction before the pandemic and ramped this up over the last 12 months.
Banking, super, finance: Team power fuels ANZ
Last year the bank’s wellbeing team put in place many initiatives, such as the HealthyMe digital app that gave people levels of support.
Companies
Iron ore miners’ profits bigger than resources boom
Australia’s top five iron ore exporters collectively raised exports into bumper prices and are making better margins than at the peak of the 2011 mining boom.
Goldman Sachs bolts out of the gates in post-pandemic deals flurry
The numbers are in and it’s official. Dealmaking is back.
- Opinion
- Financial planning
AMP Capital’s woes complicate Ares deal
The beleaguered AMP board scored a coup in hiring Alexis George, but this victory risks being overshadowed by failure to resolve the future of AMP Capital’s private market business.
- Exclusive
- Crime
Police probe bond scam as HSBC, Vanguard, PIMCO are hijacked
NSW Police are investigating a fraud scheme run by British criminals that dupes prospective investors with fake high-yield bond prospectuses.
Lynas tips big jump in China’s rare earths production
The Lynas Rare Earths share price has taken a big hit as China’s biggest player looks to double production.
Canstar launches budget app, plans to use open banking to refer deals
The comparison site will launch a personal financial management app that will tap data to give customers better bank, energy and telco offers.
- Opinion
- Chanticleer
The hidden story of Rio Tinto’s crucial quarter
While strong iron ore prices keep Rio’s shares near decade highs, CEO Jakob Stausholm is quietly trying to rebuild the community’s faith in the miner.
Markets
![Chris Grisanti, chief equity strategist at MAI Capital Management: “I would use this [opportunity] to buy those reopening stocks you missed the first time.”](https://webcf.waybackmachine.org/web/20210420235053im_/https://static.ffx.io/images/$zoom_0.3531%2C$multiply_0.5666%2C$ratio_1.777778%2C$width_1059%2C$x_0%2C$y_53/t_crop_custom/e_sharpen:25%2Cq_42%2Cf_auto/00222b65a79226d18c748db9a9d2751567849fe4)
Wall Street pundits struggle to explain stocks stumble
COVID-19 cases are surging around the world. Tension is rising between the US and Russia. Already stretched technical indicators are finally giving way.
David Kingston’s ludicrously tiny VGI shareholding
Kingston had a lot to say in February 2013, when Mark Carnegie bought 0.15 per cent of Fairfax Media.
Iron ore extends rally to more than 10-year high
The spot price of iron ore surged higher, resetting at its highest in more than a decade, on strong Chinese steel mill margins and continuing supply concerns.
What happened in markets overnight
Australian shares are set to tumble near 1 per cent at the open as a renewed focus on COVID-19 infections turned global investors defensive. Iron ore extends rally.
The six companies in Plato’s sights for executive pay
New research on the thorny issue of executive remuneration shows improvements, but six ASX companies were named as ‘outliers’ due to excess remuneration.
Opinion
APRA’s daunting double challenge
APRA faces the formidable task of taming a real estate bubble, without choking off the supply of credit to first home buyers.
Columnist
Some sharpening up needed to pay for jobs and services
Higher social program spending for those in need is a worthy goal. But the political system is reluctant to sharpen the economy’s capacity to pay it back.
Editorial
Morrison picks a climate change fight he didn’t need to have
The Prime Minister’s tone has been off-key for a range of audiences beyond inner-city cafes. He needs to read the national room better.
Columnist
Two leaders, two speeches, same target audience
Scott Morrison and Anthony Albanese are targeting the workers who need to be assured tackling climate change will be good for them as well as the planet.
Political editor
With Biden’s backing, bet on a dramatic rewrite of global tax rules
Joe Biden’s global tax minimum plan is in sync with the OECD’s long-running ‘inclusive framework’. It means that a wide-ranging international tax agreement is likely to be struck by the middle of the year.
Contributor
A carbon target would be a boost for the bush
If the PM refuses to commit to net zero by 2050, it’s not inner city types who will miss out but Australian farmers denied the carbon storage business opportunities of the lower-emissions global economy.
Columnist
Politics
- Analysis
- Paris Agreement
We lead way on climate change, says Scott Morrison
The PM’s argument that he is already doing the work on emissions will be a big test for Australian diplomacy as Joe Biden presses for greater global action.
- Opinion
- Chanticleer
Morrison is well behind in the climate game
As the Prime Minister heads to US President Joe Biden’s summit on climate change this week, he lacks credibility on carbon reductions.
Climate inaction will leave regional jobs stranded: PM
Scott Morrison has pledged more than half a billion dollars more towards developing hydrogen and carbon capture and storage technologies.
Aged care should be on par with manufacturing, construction: Labor
Aged care should be seen as a job creator in the same way as male-dominated employment strongholds are, federal Labor says.
Early phases of vaccine rollout won’t be finished until July: analysis
Health Department secretary Brendan Murphy and the government’s new rollout logistics boss Commodore Eric Young say new vaccination timetables aren’t possible.
SPONSORED
World
- Exclusive
- Trade
WTO enters make-or-break period, Tehan warns
Trade Minister Dan Tehan said there is a window of six to 12 months to show that the World Trade Organisation can work.
The David Cameron scandal: just how sleazy is British politics?
The former UK prime minister’s reputation has been savaged in recent weeks over his involvement with Greensill, but it’s not certain any rules were broken.
Regional reset: why Indonesia and Australia are tight
The bilateral relationship is at a turning point, says Gary Quinlan, the DFAT veteran who has just finished his three-year term as ambassador in Jakarta.
Chad’s president killed ‘on battlefield’
Idriss Deby Itno, who ruled the central African nation for more than three decades, was killed on the battlefield in a fight against rebels, according to the military.
Lawyers sound alarm over Australia-Indonesia partnership
The new free trade deal between the two countries has insulated the Indonesian government from international arbitration, according to lawyers acting in Indonesia.
Property
Homes top shopping list as Australia plans spending splurge
Australia’s post-pandemic rebound continues to accelerate thanks to low interest rates and economic growth leading to record levels of home buyer desire.
Aqualand markets CSIRO site with $250 million sales target
Developer Aqualand has shelved redevelopment plans and is selling the sprawling CSIRO site at North Ryde it bought seven years ago.
Charter Hall snaps up Patties Foods factories in $141m deal
It’s the latest deal in the industrial and logistics real estate sector, which has won increasing attention from investors as the pandemic disrupts other business models.
Centuria to merge with Primewest in $600m deal
Listed investment platform Centuria Capital has struck a $600 million deal to merge with Perth-based Primewest, to create a $15.5 billion property fund management platform.
Stockland sees investor inquiries double from last year
The country’s largest property developer says demand for new dwellings is more widespread than that spurred by government stimulus policies.
Wealth
- Opinion
- SMSFs
SMSFs with collectables need to read the fine print
Got art, jewellery or cars in your collection? Watch out for how they’re insured, where you store them and who uses them.
Unlisted infrastructure gaining traction
Long-term investors looking for lower volatility over long periods and greater income stability are benefiting from a wider choice of investment funds.
Super funds on track for double-digit year
Superannuation funds are on track for a stellar year of double-digit growth just a year after taking a $208 billion hit due to the COVID-19 pandemic.
Technology
Netflix misses expectations for paid subscriber additions
The US streaming company added 3.98 million paid subscribers in the quarter ended March 31. Analysts had expected it to add 6.25 million. Its shares plunged.
Mighty Kingdom heads to ASX after $18m raise
Former ABC boss Michelle Guthrie is chairman of the group and says she road-tests the games being developed in an industry growing strongly.
NASA’s Mars helicopter takes flight in ‘Wright Brothers moment’
Experimental chopper Ingenuity rose into the thin air above the dusty red surface, achieving the first powered flight by an aircraft on another planet.
Work & Careers
Judges, barristers accused of ‘alarming’, widespread sexual harassment
Judges in South Australia face compulsory annual sexual harassment training after a report detailed extraordinary examples of junior members of the profession bombarded with explicit sexual suggestions and unwanted groping.
Students still want to call Australia home but fret over borders
The lure of an on-campus education is driving international students to enrol for online study as they bank on borders reopening.
Life & Luxury
- Exclusive
- Horse racing
Billionaire racehorse owner learnt of prizemoney freeze from AFR
Tony Fung wasn’t told money laundering allegations meant his horse-racing partner, Phoenix Thoroughbreds, wouldn’t be able to collect prizemoney in NSW and Victoria.
Health harm greater for women as alcohol consumption rises
Alcohol use has been up during the pandemic, with one study showing a greater increase in misuse among women than among men.
Rediscover the legacy of the Anzacs
From Darwin to Canberra and Phillip Island south of Melbourne, Australia has plenty of places to immerse in our military history.
- Opinion
- Review
The unadulterated excess of a $739,000 Lamborghini
Driving the Aventador SVJ Roadster is as pure a Lambo experience as you can get. This undomesticated monster doesn’t give a fig about your environmentalism.
Finnish ‘anti-fashion’ brand celebrates 70 years in fine style
With a new CEO and a youthful approach, the Finnish brand is approaching its eighth decade with grand plans to lead the transformation of the fashion industry.
