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CONTRACTORS AT ‘BREAKING POINT’, SEEK RELIEF AS COSTS SPIRAL

Civil contractors say they are hugely stretched due to soaring prices and have
called on governments to follow Queensland’s lead and bear more of the costs of
core building materials.


 * TECH SECTOR URGES IMMIGRATION POLICY CHANGES


 * WE’LL HAVE TO THINK BIG ON BUDGET REPAIR

 * Opinion
 * Chanticleer


CASINOS ARE IN THE DOGHOUSE. BUT REGULATORS NEED A SHAKE-UP

Australia’s two casino companies are under fire thanks to damning revelations
about their lax approach, but the evidence also shows regulators have been
asleep at the wheel.

 * Australia's China challenge


ALARM BELLS OVER MOOTED CHINESE BASE IN SOLOMON ISLANDS

The Morrison government was scrambling on Thursday after revelations of a draft
security agreement between Beijing and the Solomon Islands which paved the way
for a Chinese military presence on the Pacific Island nation.

 * Carbon challenge


BANKS CITE EMISSIONS DATA PROBLEMS IN REACHING NET ZERO PLEDGES

Australian banks are moving towards disclosing financed emissions but want
customers to provide good data first.

 * Russia-Ukraine war


BLACKROCK’S FINK SAYS UKRAINE WAR MARKS END OF GLOBALISATION

Russia’s invasion will reshape the world economy and further drive up inflation
by prompting companies to pull back from their global supply chains, he says.

 * Opinion
 * Canberra Observed


SANCTIMONY IS A DANGEROUS CARD TO PLAY IN POLITICS

Those who warned that the weaponisation of the term “bullying” for political
purposes was an exercise in mutually assured destruction have been vindicated.

 * Federal budget


POLICY BACKFLIP TO REMOVE ALL REFUGEES FROM NAURU

The Morrison government has removed a pre-election impediment and agreed after
nine years to a resettlement deal with New Zealand.

 * International students


STUDENTS LOOK ELSEWHERE FOR ‘QUALITY’ EDUCATION

 * Super wars


LUCKY BOOMERS POST RECORD YEAR OF INVESTMENT GAINS

 * Australian Open


ASH BARTY WANTED TO RETIRE AFTER 2019 FRENCH OPEN

 * Exclusive
 * Property development


MELBOURNE UNI SITE TO BECOME $400M APARTMENT PROJECT

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STREET TALK


 * REECE MULLS TRIP TO THE US FOR WATER DISTRIBUTION BOLT-ON DEAL


 * BIG KIWI WASTE AUCTION IN FINAL STRETCH; BINDING BIDS FLY IN


 * SPHERE DRONES BUYS RISE ABOVE DRONES & ROBOTICS


CHANTICLEER


 * CASINOS ARE IN THE DOGHOUSE. BUT REGULATORS NEED A SHAKE-UP


 * CROWN STILL TOO BIG TO FAIL, BUT PROFIT PAIN IS COMING


 * WHY THE FED WON’T MIND HURTING HOUSE PRICES AND SHAREMARKETS


REAR WINDOW


 * WHY WE’LL REMEMBER PENNY WONG


 * BEVAN SLATTERY’S MEGAPORT SHARE SALES NOT FORCED BY BANKERS


 * BRYCKI BROTHERS HAVE SOCIAL MEDIA FAME COVERED


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COMPANIES

 * Gambling


CROWN PERTH ‘UNFIT’ TO HOLD LICENCE BUT ALLOWED TO STAY OPEN

The WA royal commission recommends the casino be subject to heavy oversight by
an independent monitor, similar to that in place for Crown Melbourne.

 * Hearsay


HOW CAN LAW FIRMS PAY GRADUATES $300,000 A YEAR?

Yep, that’s the going rate at elite US law firms, a number that has law firm
chief executives in Australia shaking their heads as they do the maths.

 * Gas


DON’T RUSH THE ENERGY TRANSITION, WOODSIDE URGES

Woodside’s CEO Meg O’Neill urged critics to see the progress made by the fossil
fuel industry in reducing emissions.

 * Updated
 * Mergers & acquisitions


BROOKFIELD JOINS MORRISON IN RACE FOR UNITI

Uniti signs a new exclusivity arrangement with the Brookfield/Morrison & Co
consortium with a $5 million break-fee.

 * Retail


JB HI-FI A RETAIL POWER WHATEVER COVID-19 THROWS AT IT

New sales figures show that big TVs, appliances and home office computers and
equipment are still in strong demand.

 * Legal industry


DANNY GILBERT STEPPING DOWN AS MANAGING PARTNER

Leading law firm Gilbert & Tobin will look for a new managing partner after
co-founder Danny Gilbert said he was moving to a “more strategic” role.

 * Courts


EX-ANZ EXEC SAYS HE WAS SACKED FOR REPORTING ALLEGED SEXUAL HARASSMENT

A former ANZ employee is claiming he was victimised after blowing the whistle on
an alleged incident at a conference in 2013.


COMPANIES IN THE NEWS

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MARKETS

 * Markets Live


ASX UP; CROWN SHARES RALLY AS CASINO LICENCE RETAINED

Firefinch up 3pc on J Cap research; JB Hi-Fi reports strong sales growth in Q3;
Janus Henderson hires new chief executive; Australian dollar touches four-month
high.

 * Fundie Q&A


NAVIGATING A COMMODITY BOOM WITHOUT BUYING MINERS

Prime Value’s Richard Ivers explains how the fund has outperformed the Small
Ords despite avoiding resources and buy now, pay later stocks.

 * Opinion
 * Chanticleer


WHY THE FED WON’T MIND HURTING HOUSE PRICES AND SHAREMARKETS

Credit Suisse’s global head of equities says markets are underestimating what
the Fed needs to do on inflation, including hitting household wealth. 

 * Bonds


US RECESSION IN SIGHT FOR BOND TRADERS

Bond investors are worried the US is heading for a recession, casting doubt on
the Federal Reserve’s soft landing with its ambitious monetary tightening.

 * Cryptocurrencies


ANZ THE FIRST BANK TO MINT AN AUSTRALIAN DOLLAR STABLECOIN, THE A$DC

ANZ says creating a new digital asset linked to the AUD will reduce settlement
risk costs and facilitate access to crypto more broadly.


OPINION

 * Federal budget


WE’LL HAVE TO THINK BIG ON BUDGET REPAIR

Australia will need to improve its fiscal position by $40 billion a year. There
are good solutions but they have to be radical.

Richard Holden

Economics professor

 * Russia-Ukraine war


BIDEN NEEDS REALPOLITIK, NOT IDEALS TO WIN UKRAINE WAR

The US President must come clean and admit the Ukraine war is not about
democracy versus autocracy.

Janan Ganesh

Contributor


THE PERMANENT CASE AGAINST POINTLESS FUEL EXCISE CHANGES

What the Financial Review editorialised in 2001 against John Howard’s fuel
excise election bribe stands today as the permanent case against what the
Morrison government might do in next week’s budget.

The AFR View

Editorial

 * Monetary policy


WILL SANCTIONING RUSSIA UPEND THE GLOBAL MONETARY SYSTEM?

Few moves have raised the stakes in the global money system more than the West’s
action to freeze Russia’s foreign currency reserves.

Jim O'Neill

Columnist

 * Federal budget


COULD FRYDENBERG OR CHALMERS CUT LIKE KEATING AND WALSH?

Tens of billions of dollars are being added each year to the national credit
card for future generations to be burdened with.

John Kehoe

Economics editor

 * Fairfax Media


MAX WALSH WROTE THE STORY OF AUSTRALIA’S REFORM ERA

Without Max Walsh’s commitment to informing Australians about the big-picture
nexus between politics and the economy, modern Australia would have remained a
smaller and less prosperous country.

The AFR View

Editorial


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POLITICS

 * Exclusive
 * Federal election


MCKINSEY PARTNER WHO ADVISED ON JOBKEEPER WINS LIBERAL ENDORSEMENT

Simon Kennedy was chosen as the candidate for the safe seat of Bennelong after
telling party members how he helped the government with the wage subsidy during
the pandemic.

 * Australia's China challenge


ALARM BELLS OVER MOOTED CHINESE BASE IN SOLOMON ISLANDS

The Morrison government was scrambling on Thursday after revelations of a draft
security agreement between Beijing and the Solomon Islands which paved the way
for a Chinese military presence on the Pacific Island nation.

 * Explainer
 * Federal election


WHY THE FEDERAL ELECTION WILL LIKELY BE MAY 21

The federal election will be held on either May 14 or May 21. Here’s everything
you need to know while we wait for an election date.

 * Exclusive
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WA SITTING LIBERAL’S CAMPAIGN UNDER FINANCE PRESSURE FROM INDEPENDENT

The WA Liberal Party’s Curtin division agreed to dole out $40,000 to federal
election campaigns before Kate Chaney ramped up her push to topple Celia
Hammond.

 * Federal election


REX PATRICK RECONSIDERS PLANS AFTER XENOPHON FLAGS COMEBACK

Former South Australian independent Senator Nick Xenophon has declared he will
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WORLD

 * Russia-Ukraine war


RUSSIA SAYS IT WILL UNDERCUT AUSTRALIAN WHEAT

Indonesia has voted in favour of UN resolutions calling on Russia to withdraw
from Ukraine, but has not signed on to sanctions.

 * Air accident


CHINA FINDS BLACK BOX FROM PLANE CRASH

Search efforts have been under way since the plane plummeted into a rural
mountainside on Monday.

 * Russia-Ukraine war


PUTIN ADVISER QUITS OVER UKRAINE WAR AND LEAVES RUSSIA

Anatoly Chubais is the highest-ranking government figure to resign since
Russia’s invasion of Ukraine.

 * Russia-Ukraine war


BIDEN EXPECTED TO ANNOUNCE GAS AID TO EUROPE

US President Joe Biden flies in as NATO weighs up how to help Ukraine resist
cyber, chemical and nuclear attacks. But Germany’s leader vents sanctions
fatigue.

 * Global economy


BRITAIN CUTS PETROL TAX AS INFLATION SOARS, ECONOMY SLOWS

In his mini-budget, UK Chancellor Rishi Sunak sought to help the middle class
through the sharpest one-year drop in living standards ever recorded.


PROPERTY

 * Property development


SEKISUI HOUSE IN $100M NORWEST BUY, REVEALS COASTAL EXPANSION PLANS

The Japanese-owned developer and builder is stepping up its expansion plans with
Sydney the focus.

 * Hotels


LABOUR SHORTAGES WEIGH ON HOTEL RECOVERY: MARRIOTT

Marriott expects to hit a 60 per cent occupancy rate across its 27 Australian
hotels next month, but says staffing shortages hamper an even stronger recovery.

 * Construction


GOLD COAST, PERTH, TOWNSVILLE FACE SHARPEST BUILDING COST RISES

Disrupted supply chains, labour shortages, floods and geopolitical uncertainty
are making project pricing in the construction sector more volatile than normal.

 * Property market


THE UNTAPPED NET ZERO POTENTIAL OF THE $1.3 TRILLION STRATA SECTOR

The strata sector could help achieve net zero targets, lower the cost of living
and improve housing affordability, the peak industry body says.

 * Office


DEXUS CEMENTS ATLASSIAN TOWER DEAL

The 40-level tower that will become Atlassian’s new headquarters has a hybrid
concrete and timber design and is set to become a landmark.


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WEALTH

 * Income tax


TAX CUTS MEAN BRACKET CREEP IS ‘MUCH LESS CREEPY’: DELOITTE

Personal income tax payments will blow past a record $250 billion in the federal
budget, but tax cuts are more than offsetting wage inflation.

 * Carbon pricing


HOW RETAIL INVESTORS CAN OFFSET THEIR CARBON FOOTPRINTS

Carbon credits are one tool large emitters use to offset emissions. But can
retail investors get in on the action – and speed the transition to net zero?

 * Rich List


RICH LISTER TERRY SNOW BACKS FOUNDERS WHO’VE LIVED THEIR PROBLEMS

A new grants program has backed social entrepreneurs motivated by their own
adversity and hardships.


TECHNOLOGY

 * Skills shortage


TECH SECTOR URGES IMMIGRATION POLICY CHANGES

Labor’s pledge to install 1.2 million Australians in tech jobs by 2030 is a
“good start” but more skilled migration is necessary, fintech companies say.

 * Motoring


LAMBORGHINI REVEALS WHEN YOU CAN EXPECT ITS FIRST EV (AND WHAT IT WON’T SOUND
LIKE)

The CEO of the Italian luxury car brand says it is absorbing sharp jumps in raw
material costs and energy prices, and won’t hike price tags.

 * Venture capital


UNISUPER MAKES FIRST VENTURE CAPITAL FORAY WITH $75M FUNDING

UniSuper will tip $75 million into UniSeed – the shared investment arm of the
nation’s research agency, CSIRO, and four major Australian universities.


WORK & CAREERS

 * International students


STUDENTS LOOK ELSEWHERE FOR ‘QUALITY’ EDUCATION

The Australian government’s overtures to woo back international students have
failed to revive the tertiary education industry.

 * Autism


MEET THE CEO WITH A PHOTOGRAPHIC MEMORY

Raiz Invest’s George Lucas opens up about living with high-functioning autism.


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LIFE & LUXURY

 * Australian Open


ASH BARTY WANTED TO RETIRE AFTER 2019 FRENCH OPEN

Coach Craig Tyzzer knew tennis champion Ash Barty’s retirement was coming after
her Wimbledon victory. He says the 25-year-old has achieved what she needed to
and there’s nothing left in her tank.

 * Opinion
 * Opinion


WHY WE ARE EXCITED ABOUT THIS APPLE MONITOR

Apple’s $2499 Studio Display could change the way you upgrade your computer.

 * Health


STEROID INJECTIONS DO NOT MAKE YOU WEAKER AT THE KNEES: STUDY

Judicious use of steroid injections to relieve symptoms of osteoarthritis in the
knees does not hasten knee replacement surgery, according to a new study.

 * Style


LUXURY FASHION INSIDERS LOVE EMAIL AGAIN – HERE’S WHY

If there’s something worth knowing these days, newsletters delivered to your
inbox are the hottest ticket in town.

 * Motoring


LAMBORGHINI REVEALS  WHEN YOU CAN EXPECT ITS FIRST EV AND (WHAT IT WON’T SOUND
LIKE)

The CEO of the Italian luxury car brand says it is absorbing sharp jumps in raw
material costs and energy prices, and won’t hike price tags.


MOST VIEWED


 1. MORE THAN HALF OF UKRAINE’S CHILDREN DISPLACED BY WAR


 2. WHY WE’LL REMEMBER PENNY WONG


 3. ASX UP; CROWN SHARES RALLY AS CASINO LICENCE RETAINED


 4. ROTHSCHILD HEAD OF M&A FOR AUSTRALIA CHRIS FORMAN DIES, 48


 5. HOW CAN LAW FIRMS PAY GRADUATES $300,000 A YEAR?


 6. ANZ THE FIRST BANK TO MINT AN AUSTRALIAN DOLLAR STABLECOIN, THE A$DC


FROM THE GALLERY


DAVID ROWE CARTOONS FOR MARCH 2022

Mar 24, 2022View more editorial cartoons


THE AUSTRALIAN FINANCIAL REVIEW MAGAZINE


WHAT THE SCIENCE SAYS ABOUT MICRODOSING

 * Yolanda Redrup


 * WHY MICRODOSING IS GAINING MOMENTUM IN AUSTRALIA


 * LUXURY FASHION INSIDERS LOVE EMAIL AGAIN – HERE’S WHY


BOSS FINANCIAL REVIEW


MEET THE CEO WITH A PHOTOGRAPHIC MEMORY

 * Sally Patten


 * THE BEST ADVICE I EVER RECEIVED: ‘YOU CAN ONLY DO THREE THINGS WELL’


 * BLACKMORES SETS OUT TO REACH 1 BILLION CONSUMERS


LIFE & LEISURE


WHY WE ARE EXCITED ABOUT THIS APPLE MONITOR

 * John Davidson


 * WELCOME TO KOSKELA’S NEW HARBOURFRONT HQ


 * LYNDAL OATLEY’S GERMAN FAIRYTALE


RICH LIST


WHY RICH LISTER TIM GURNER TACKLES HIS JOB LIKE A PROFESSIONAL ATHLETE

 * Patrick Durkin


 * RICH LISTER TERRY SNOW BACKS FOUNDERS WHO’VE LIVED THEIR PROBLEMS


 * PORT MACQUARIE HOTEL ‘TOO GOOD TO REFUSE’: LAUNDY

The Australian Financial Review

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