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 * Analysis
 * Governance


WHAT THE $83B TESLA PAY DEAL SETBACK MEANS FOR MUSK AND HIS EMPIRE

The car maker’s board is under pressure after a judge ruled this week that its
billionaire CEO has to forfeit the largest ever incentive package. What happens
next?


 * WHAT STOPPED DENHOLM STANDING UP TO MUSK?


 * COURT LAYS BARE DENHOLM’S LOSING BATTLE WITH MUSK


 * THE AFR VIEW: MANAGING MUSK AND MONEY

 * National Reconstruction Fund


HOW THE NEW $15B FUND BOSS WILL REVIVE MANUFACTURING

Former Macquarie Group executive Ivan Power is the boss of the NRF, a key plank
of the Albanese government’s agenda to revive manufacturing.

 * Social media


‘BLOOD ON YOUR HANDS’: APOLOGETIC ZUCKERBERG GRILLED AT FIERY HEARING

X’s Linda Yaccarino, TikTok’s Shou Zi Chew and other social media CEOs testified
before a Congress committee examining ways to curb harms from online platforms.

 * Live
 * Need to Know


STEVEN MILES URGES RBA, BANKS TO CUT RATES NOW

The Queensland premier demands the RBA and banks lower rates to take pressure
off households; the PM challenges MPs to deny low-income earners tax cuts.
Follow updates here.

 * Opinion
 * Chanticleer


POWELL PLANTS A SEED OF DOUBT IN RATE CUT TIMING

The probability of a US March interest rate cut is poised to continue to fall
after Jerome Powell said it was too early to declare victory.

 * Live
 * Markets Live


SHARES FALL, BUILDING APPROVALS SLUMP, KELLY PARTNERS JUMPS

Shares drop 0.9pc. New York Community Bank plunges 37pc. CBA calls house prices
to rise 5pc in 2024. Powell says March rate cut “not likely”. Follow here.

 * Tax minimisation


TREASURY EYES TAX ON $60B IN FAMILY TRUSTS

Federal Treasury has ramped up scrutiny of family trusts, revealing the growing
number of people receiving income from the tax-friendly vehicles.

 * The Brief


15 STORIES YOU NEED TO KNOW TODAY

 * Federal election


MAJOR POLITICAL DONORS REVEALED

 * Legal industry


THIS AUSSIE LAWYER WORKS FOR A US FIRM, BUT WITHOUT THE BRUTAL HOURS

 * The Fin


ALBANESE’S TAX CUT GAMBLE AND WHAT IT MEANS FOR THE NEXT ELECTION

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STREET TALK


 * BCI MINERALS IN $315M EQUITY RAISE
   
    * 10.26am


 * METCASH CONFIRMS BID FOR QUADRANT’S SUPERIOR FOOD GROUP
   
    * 9.17am


 * MIRROR TRADES, TECH FOR BOOKIES: TOM WATERHOUSE’S PITCH FOR VC RAISE
   
    * 5.00am


CHANTICLEER


 * POWELL PLANTS A SEED OF DOUBT IN RATE CUT TIMING


 * RATE RELIEF SENDS ASX TO NEW PEAK, BUT BEWARE IRRATIONAL OPTIMISM


 * MINING TEARAWAY WENT ALL IN ON BATTERY METALS, NOW THERE IS NO TURNING BACK


REAR WINDOW


 * KERRY STOKES PUSHES POLITICAL PATRONAGE TO THE EDGE


 * WATERMELONS GIRDING THE SENATE CROSSBENCH


 * DENHOLM PLANS $80M TESLA WINDFALL


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COMPANIES

 * Fintech


‘PRETTY MUCH DONEZO’: AFTERPAY’S GLOBAL AMBITION FEARED IN JOB CUTS

The company’s US parent, Block, told staff on Wednesday it is beginning to enact
plans to cut more than 1000 jobs globally.

 * Hayne fallout


BANKER PAY A ‘WORK IN PROGRESS’ FIVE YEARS ON FROM HAYNE INQUIRY

On the anniversary of the banking royal commission, the prudential regulator
says there’s still work to do on remuneration, risk culture and accountability.

 * Insider trading


WESTPAC TO PAY ‘RISIBLE’ $1.8M FINE IN INSIDER TRADING SETTLEMENT

Federal Court judge Michael Lee has lamented the modest penalty Westpac will
have to pay after it struck an agreement with ASIC over insider trading charges.

 * Indigenous culture


WOODSIDE SPENT DECADES ON INDIGENOUS RELATIONS. THEN A WHALE ARRIVED

Aboriginal fables are being given the power by courts to disrupt nationally
significant energy projects.

 * Mining


MORE NICKEL JOB LOSSES AS IGO FLAGS NEAR WIPEOUT ON $1.3B BUY

IGO boss Ivan Vella opted to shelve his nickel project as the fallout continues
from a disastrous $1.3 billion Western Areas acquisition.

 * Greensill Capital


GUPTA’S GFG MISSES CREDIT SUISSE PAYMENT AFTER LEVERAGING AUSTRALIAN ARM

The steelmaking group missed an upfront cash payment, raising questions around a
restructuring agreement penned in June between the company and its creditors.

 * Home loans


CBA SLOWS MORTGAGE LOSSES AS MARKET STABILISES

The plateau in losses will ease pressure on CBA chief Matt Comyn and his retail
bank boss Angus Sullivan ahead of the lender’s half-year results on February 14.


COMPANIES IN THE NEWS

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MARKETS

 * Lithium


BANK OF AMERICA MORE THAN HALVES LITHIUM PRICE FORECASTS FOR THIS YEAR

The bank’s commodities strategists say competition between Australia and China
is keeping supply growing even when there is limited demand.

 * Monetary policy


FED DAMPENS MARCH RATES CUT HOPES

The US central bank took a major step towards lowering interest rates in coming
months in a statement that tempered inflation concerns with other economic
risks.

 * Before the Bell


WHAT HAPPENED OVERNIGHT? POWELL DASHES EARLY RATE CUT HOPES, US STOCKS TUMBLE

The Fed boss made clear that aggressive rate cut bets were just that, even
though he also made clear rate cuts are pending this year.

 * Bonds


BOND TRADERS RAMP UP EARLY RATE CUT BETS AS INFLATION COOLS

The latest CPI data cemented expectations of an RBA policy hold next week, but
the central bank may reiterate it is ready to lift rates again if necessary.

 * Carbon challenge


AUSTRALIA, A HYDROGEN SUPERPOWER? ONLY IF SOLAR COSTS PLUMMET

Australian Renewable Energy Agency boss Darren Miller has a stark warning for
the government’s ambitious strategy. But he also has a plan.


OPINION

 * Federal Reserve


THE MARKET’S GUESSING GAME OVER INTEREST RATES CONTINUES

US stocks tumbled after Fed boss Jerome Powell poured cold water on the market’s
hopes for a March rate cut, but some investors still think the Fed will ease,
writes Karen Maley.

Karen Maley

Columnist

 * Tesla


MANAGING MUSK AND MONEY

Australian Tesla chairwoman Robyn Denholm has to renegotiate the world’s biggest
pay packet while keeping the creative sparks that fly off Tesla’s founding
genius.

The AFR View

Editorial

 * Inflation


FALLING INFLATION BOOSTS LABOR’S CONFIDENCE

The drop in inflation is bolstering Labor’s belief that the economic narrative
is turning in its favour and there will be no more interest rate rises.

Jennifer Hewett

Columnist

 * Tax cuts


TAX CHANGES ARE ‘BAND-AIDS AND STICKY TAPE’ ON A BROKEN SYSTEM

Australia is too reliant on slugging workers for income tax – sapping work
incentives, deterring international talent and penalising working-age people.

John Kehoe

Economics editor

 * Inflation


RBA CAN’T LET UP AS INFLATION RETREATS

The fall in headline inflation is encouraging. But the final rounds of the war
on sticky services inflation will be the hardest.

The AFR View

Editorial

 * Air travel


I HAVE TRIED JET LAG FIX CALCULATORS. HERE IS WHAT I LEARNT.

Science now understands how to fend off debilitating jet leg. It’s just that
airlines and employers have not caught up.

Pilita Clark

Columnist


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POLITICS

 * Tax reform


CEOS ‘BACK TAX SUMMIT 100PC’ BUT CHALMERS UNMOVED

Wesfarmers boss Rob Scott, retailer Gerry Harvey and Virgin chairman Graham
Bradley have backed a national summit to jumpstart debate on tax reform.

 * Income tax


GREENS FACE CLEAR CHOICE ON TAX CUTS: GOVERNMENT

The Albanese government will listen “respectfully” to demands by the Greens to
further pull apart the stage three tax cuts, and then most likely ignore them.

 * National Reconstruction Fund


HOW THE NEW $15B FUND BOSS WILL REVIVE MANUFACTURING

Former Macquarie Group executive Ivan Power is the boss of the NRF, a key plank
of the Albanese government’s agenda to revive manufacturing.

 * Industrial relations


RIGHT TO DISCONNECT, CASUAL CARVE-OUTS PART OF IR TALKS

Workplace Relations Minister Tony Burke has circulated a draft “right to
disconnect” to key crossbenchers to pass into law next week, but business has
complained about the lack of scrutiny.

 * Australia's China challenge


US URGES PACIFIC TO KEEP CHINESE TECH OUT OF UNDERSEA CABLES

America’s cybersecurity envoy said Pacific countries could be cut off from
cables if they use “untrusted” suppliers, as Nauru offered assurances to
Canberra over its China flip.


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WORLD

 * Exclusive
 * Iron ore


IRON ORE DEMAND WILL SURVIVE EVERGRANDE WIND-UP, SAYS KING

The Australian Resources Minister says the liquidation of the Chinese property
giant will have consequences, but iron ore demand looks healthy for now.

 * Analysis
 * Governance


WHAT THE $83B TESLA PAY DEAL SETBACK MEANS FOR MUSK AND HIS EMPIRE

The car maker’s board is under pressure after a judge ruled this week that its
billionaire CEO has to forfeit the largest ever incentive package. What happens
next?

 * Monetary policy


FED DAMPENS MARCH RATES CUT HOPES

The US central bank took a major step towards lowering interest rates in coming
months in a statement that tempered inflation concerns with other economic
risks.

 * Israeli-Palestinian conflict


BIDEN DECIDED ON RESPONSE TO DEADLY DRONE STRIKE IN JORDAN

The US President could opt to attack the Iranian suppliers of drones and
missiles, perhaps including inside Iranian territory.

 * Governance


MUSK RISKS LOSING WORLD’S RICHEST TITLE AFTER COURT VOIDS $83B PAY

More than five years after the electric car maker’s co-founder was granted the
largest compensation plan in history, Tesla’s board will have to come up with a
new proposal.


PROPERTY

 * Property market


SYDNEY HOUSE PRICES EDGE UP AS OUTLOOK LOOKS ‘LESS NEGATIVE’

Lower-than-expected CPI, alongside a growing expectation of rate cuts later this
year could provide further stimulus to the housing market.

 * Exclusive
 * Luxury property


BYRON BAY’S NEW ‘BOHO LUXE’ HINTERLAND ESCAPE UP FOR GRABS

Just five months after its doors opened to glowing reviews, the ‘for sale’ sign
is about to go up for one of the region’s biggest prestige offerings of 2024.

 * Opinion
 * Property Observed


LANG WALKER: BUILDER OF SKYSCRAPERS WITH FEET FIRMLY ON THE GROUND

In an age of spreadsheets and internal rates of return, the billionaire
developer’s common touch gave him an understanding for what business, or home
buyers, wanted.

 * Property prices


THE SUBURBS WHERE UNITS TRIPLED IN VALUE OVER 20 YEARS

Melbourne unit market outperformed Sydney and Brisbane in the past 20 years, but
may not keep the leading position over the next decade amid oversupply of
apartments in the past five years.

 * Commercial real estate


CONSTRUCTION DELAYS GIVE HOTEL VENDOR AN EDGE IN SCARCE MARKET

A NSW hotel forced to halt construction by the building regulator is starting up
again – and its new owner hopes to benefit from the 14-month delay.


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WEALTH

 * Super Q&A


WE CAN’T AFFORD NEW TAX ON $3M SUPER – SHOULD WE TRANSFER PROPERTY?

Sometimes it’s worth accepting “the devil you know” when it comes to Division
296 tax management strategies.

 * Superannuation


HOW TO GET AN EXTRA $1.7M INTO SUPER IF YOU’RE SELLING A BUSINESS

Once owners of a small business decide it’s time to sell, knowing the rules
around capital gains tax may mean no tax on the sale and getting more into
super.

 * Penny Wise


WE FIGHT OVER WHETHER TO SEND OUR KIDS TO PUBLIC OR PRIVATE SCHOOLS

Private schooling can cost nearly $400,000, so it’s important to make sure you
and your partner are on the same page.


TECHNOLOGY

 * Social media


‘BLOOD ON YOUR HANDS’: APOLOGETIC ZUCKERBERG GRILLED AT FIERY HEARING

X’s Linda Yaccarino, TikTok’s Shou Zi Chew and other social media CEOs testified
before a Congress committee examining ways to curb harms from online platforms.

 * Funding


ENERGY START-UP PLANS TO TAKE ON THE WORLD AFTER $29M INVESTMENT

The Funded blog is the home for news on the tech deals that are done in
Australia, as soon as we hear about them.

 * AI


SPECIAL AI LAWS NEEDED FOR FINANCIAL SERVICES: LONGO

ASIC chairman Joe Longo has laid out a case for special AI rules for financial
services, arguing general rules will not be adequate to stop harms.


WORK & CAREERS

 * Accounting


YOUNG ACCOUNTANTS LAND BIGGEST PAY RISES BUT STILL UNHAPPY

CA ANZ’s annual pay survey finds that 45 per cent of members with experience of
five years or less secured a pay rise of 7.6 per cent or above in the past year.

 * Meet the CEO


THE BEST PIECE OF ADVICE THE CEO OF THIS $1.5B COMPANY WAS GIVEN

Drew O’Malley, chief executive of Collins Foods, operator of KFC fast food
outlets, answers our CEO Q&A.


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LIFE & LUXURY

 * Fine dining


MAX ALLEN REVIEWS THE CULT WINE CREATED BY FORMER BANKERS

Yoshiaki and Kyoko Sato turned their backs on international careers and started
making wine as naturally as possible in Central Otago.

 * Fashion Week


HOW FASHION HOUSES LURE THE 0.003PC

Couture week is often labelled out of touch and irrelevant. For luxury
customers, that’s the entire point.

 * Crime


HITMEN ARE EASY TO FIND IN THE MOVIES. REAL LIFE IS ANOTHER STORY

Murders-for-hire are notoriously difficult to successfully arrange, let alone
get away with.

 * Opinion
 * Fitness


HOW TO CUT THROUGH THE MENTAL BLOCKS TO EXERCISE

Reframe the reasons you aren’t exercising as genuine obstacles and devise a plan
to overcome them.

 * Travel


WHEN THE HEAVENS OPEN, IT’S TIME TO CELEBRATE LIFE ON THE MASAI MARA

The wet season has nourished the Kenyan plains, baby animals gambol at every
turn, and a new luxury camp has sprouted amid verdant acacias.


MOST VIEWED

 1.  * Live
    
    
    SHARES FALL, BUILDING APPROVALS SLUMP, KELLY PARTNERS JUMPS


 2. TREASURY EYES TAX ON $60B IN FAMILY TRUSTS


 3. ‘LIFE-CHANGING WEALTH’ STOPPED DENHOLM STANDING UP TO MUSK: JUDGE


 4. ASX SOARS TO ALL-TIME HIGH; NICKEL INDUSTRIES JUMPS 10PC


 5. RATE CUT BETS SPARK ASX RALLY AS INFLATION COOLS


 6. UKRAINE TO AUSTRALIA: ‘WE DON’T WANT YOUR FLYING TRASH’


FROM THE GALLERY


DAVID ROWE CARTOONS FOR FEBRUARY 2024

Jan 31, 2024View more editorial cartoons


THE AUSTRALIAN FINANCIAL REVIEW MAGAZINE


MAX ALLEN REVIEWS THE CULT WINE CREATED BY FORMER BANKERS

 * Max Allen


 * INSIDE THE MAKE-OR-BREAK BUSINESS OF ART GALLERIES’ BLACK-TIE BALLS


 * THE APPLE INSIGHT THAT EVERY WATCHMAKER MISSED


BOSS FINANCIAL REVIEW


THE BEST PIECE OF ADVICE THE CEO OF THIS $1.5B COMPANY WAS GIVEN

 * Sally Patten


 * NINE CEOS REVEAL THEIR FAVOURITE PRODUCTIVITY HACKS


 * WALKING, RIDING, SAILING TO CEOS’ FAVOURITE HOLIDAY SPOTS


LIFE & LEISURE


HOW FASHION HOUSES LURE THE 0.003PC

 * Lauren Sams


 * WHEN THE HEAVENS OPEN, IT’S TIME TO CELEBRATE LIFE ON THE MASAI MARA


 * RICH LISTER ADDS LUXURY TOWNSVILLE HOTEL TO HIS TRAVEL PORTFOLIO


RICH LIST


HOLIDAY LIKE A RICH LISTER ON YOUR OWN PRIVATE ISLAND

 * Tess Bennett


 * SENIOR EXECS STEP UP TO STEER LANG WALKER’S LEGACY


 * LANG WALKER, THE DEVELOPER WITH A TOUCH FOR TIMING

The Australian Financial Review

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