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Follow updates here. * Updated * Telecommunications OPTUS’ BEREJIKLIAN HIRE THROWS DOWN GAUNTLET AT TELSTRA Optus hopes she can leverage her extensive government contacts and influence to build an institutional business big enough to fight the all-dominant Telstra. * Lunch with the AFR DAISY TURNBULL ON WHY SHE WAS WRONG ABOUT GRACE TAME * Family finance JOINT ACCOUNTS THAT MAKE COUPLES MORE MONEY * Streaming PAM AND TOMMY – THE GREATEST LOVE STORY EVER SOLD * Health SIX THINGS YOU CAN DO IN YOUR 60S TO ADD 10 YEARS TO YOUR LIFE The latest in food, wine and where to travel. In your inbox every Saturday. Sign up for the newsletter STREET TALK * FIRST SENTIER TESTS INTEREST IN GAS NETWORK FIRST GAS, BANKERS UP * BHP GROUP AND THE $24B SHORT * EQT’S ICON SMASHES $1B BARRIER FOR AUSSIE TERM LOAN B MARKET CHANTICLEER * CHRIS MACKAY’S DEFIANT RALLYING CRY LEAVES KEY QUESTIONS * ACCC BANK CARTEL CASE COLLAPSES * IT WILL BE BUSINESS AS USUAL IN PROXY STATUS QUO REAR WINDOW * JOSH FRYDENBERG SUSTAINS FULL-BODY GRAVEL RASH * ADRIAN DI MARCO MADE THE MOST OF PROXY REFORMS * MAGELLAN NEVER STOPPED LOVING CHRIS MACKAY Advertisement REVIEW * Analysis * China relations FIFTY YEARS ON, NIXON’S CHINA MOMENT HAS LOST ITS SPARKLE The anniversary has prompted introspection about how the US, and Australia, got China wrong and what to do about it. * Ukraine crisis UKRAINE GAVE UP ITS GIANT NUCLEAR ARSENAL – NOW, THERE ARE REGRETS When the Soviet Union collapsed, Ukraine turned over thousands of atomic weapons in exchange for security guarantees from Russia and the United States. * Wall Street MICHAEL LEWIS STARS IN NEW PODCAST ‘OTHER PEOPLE’S MONEY’ The famed financial author is revisiting Liar’s Poker, the groundbreaking 1989 book that launched his writing career. * Opinion * National security WHAT THE QUAD MEANS FOR AUSTRALIAN BUSINESS Technology has emerged as one of the front lines of the contest with China, and the Quad is in the thick of it. * Brexit HOW NIGEL FARAGE BECAME KING OF THE TROLLS From his Dulwich days to the EU referendum, the man who made Brexit has always been a lone provocateur. RESULTS SEASON * Earnings season IAG BUMPS UP PREMIUM GUIDANCE, TRIMS DIVIDEND IAG has lifted the amount of premiums it anticipates reaping this year, based partly on jumps in pricing on home and car insurance. * Retail KATHMANDU SALES REBOUND BUT OBOZ HIT BY VIETNAM SHUTDOWNS About half of the orders for Oboz hiking boots couldn’t be filled, but in the past three months the Kathmandu brand had a 15.1pc sales rise. * Earnings season BABY BUNTING CEO SAYS OMICRON HAS HAD MODERATE IMPACT Australia’s largest specialty retailer of maternity and baby goods has raised its half-year dividend by 13.8 per cent. * Earnings season CHILDCARE CENTRE LANDLORD LIFTS PAYOUT AS INFLATION BOOSTS RENTS The vast majority of ARENA REIT’s childcare centres are leased to tenants who are now paying CPI-indexed rent rather than lower fixed rents. * Earnings season INTERIM PROFIT SEASON CALENDAR AND RESULTS Here is a list of the results of Australian companies reporting their interim results in the February reporting season. COMPANIES * Opinion * Chanticleer ACCC BANK CARTEL CASE COLLAPSES After four years of tortuous legal argument in the courts, the ACCC’s criminal cartel charges against Citi, Deutsche and four bankers have been abandoned. * Competition WESFARMERS CLEARED TO BUY API Wesfarmers is another step closer to acquiring its target Australian Pharmaceutical Industries after the competition regulator gave it the tick of approval. * Emissions WOODSIDE, SANTOS TO FACE MORE CLIMATE RESOLUTIONS The oil and gas producers are coming under increasing pressure to explain how their production and investment plans can align with Paris climate goals. * Funding WOOLWORTHS MAKES SECOND BET ON PLANT-BASED MEAT The supermarket giant’s venture capital arm, W23, has invested in All G Foods, an alternative proteins business. * Opinion * Chanticleer IT WILL BE BUSINESS AS USUAL IN PROXY STATUS QUO Such advisers were never as influential as the government’s reforms made out. But they play an important role for those ignored in this battle: investors. * Earnings season IT’S THE RIGHT TIME TO BOW OUT, SAYS ASX CEO DOMINIC STEVENS ASX CEO Dominic Stevens says the job of developing a new five-year plan sits best with his successor. * Managed funds MAGELLAN’S GLOBAL FUNDS RATINGS CUT BY ZENITH Zenith Investment Partners says Hamish Douglass’ indefinite leave was a “material loss” for the group as it cut ratings on Magellan’s global funds. COMPANIES IN THE NEWS All Companies SEARCH COMPANIES View stories and data from an ASX listed company Search company by ASX code or name Search MARKETS * Managed funds MAGELLAN FUNDS UNDER MANAGEMENT SLUMP FURTHER Magellan Financial Group’s fund under management have been hurt by outflows and market moves between January 31 and February 9. * Inflation US INFLATION JUMPS TO 40-YEAR HIGH, SIGNALLING 0.5PC RISE IN MARCH The consumer price index climbed 7.5 per cent well ahead of expectations, setting the scene for a double rate increase by the Federal Reserve next month. * Inflation AFTER HOT CPI NUMBERS, TRADERS PRICE IN HALF-POINT FED RATE HIKE The spectre of increasing price pressures drove money markets to price in a full percentage point of rate increases through July. * Before the Bell WHAT HAPPENED IN MARKETS OVERNIGHT Australian shares are set to open lower as Wall Street went on a downward spiral after inflation jumped to a 40-year high and the St Louis Fed president supported rate rises. * Fundie Q&A INVESTORS COULD BE IN FOR AN EARNINGS SEASON DIVIDEND SHOCK Wilsons’ John Lockton on how ARK matters to reading the tech sell-off, and why Santos could be the source of a dividend surprise. OPINION * China relations THIS IS A TURNING POINT IN COLD WAR 2.0 In 1972, Henry Kissinger triangulated Beijing against Moscow. Now Vladimir Putin and Xi Jinping are playing the same manoeuvre against the US. Stephen Roach Contributor * Property market THE WIDE-RANGING EFFECTS OF US INFLATION Markets are still pricing in interest rate increases that are way below where the US Fed thinks it is going in the next couple of years. Christopher Joye Columnist * Canberra Observed RELIGIOUS FREEDOM WEDGE BECAME THE PM’S EXPLODING CIGAR The government certainly did not intend to wedge itself but that’s what happened. And Percy Punter has no idea what’s going on other than there was more chaos and ill-discipline inside the government. Phillip Coorey Political editor * Super wars FRYDENBERG OUTSMARTED HIMSELF IN PROXY BATTLE Josh Frydenberg’s embarrassing defeat on proxy advice is the corporate equivalent of the government’s humiliation over its religious discrimination bill. Jennifer Hewett Columnist * Industrial relations HIGH COURT MOVE ON WORKPLACE REGULATION SHOWS UP POLITICAL INERTIA If employers do jump at the opening offered by the High Court, it’s too easy to see why. The industrial relations system they have now is inefficient, and frequently unworkable. The AFR View Editorial * Super wars INVESTORS DELIVER FRYDENBERG A PROXY LESSON The overturning of proxy changes is an embarrassing loss for the Treasurer, who must accept that investors are an important part of the capitalist economy. John Kehoe Economics editor Advertisement POLITICS * Exclusive * Jobs DELOITTE HIRES HUNDREDS FROM OVERSEAS AS FIRM SEEKS TO FILL 1500 ROLES Major consulting firms Deloitte, EY, KPMG and PwC say they have hired hundreds of foreigners and are planning to hire more in the coming months as they scramble to alleviate an ongoing staff shortfall that has blown out into the thousands. * Australia's China challenge REGION FACES ‘SEVERE SECURITY ENVIRONMENT’ AS QUAD MINISTERS GATHER IN MELBOURNE US Secretary of State Antony Blinken insists the US remains invested in the Indo-Pacific, as Japan’s foreign minister gives a blunt assessment of security risk. * Exclusive * Climate policy TAYLOR LAYS OUT PLAN TO STOP BUSINESSES’ CARBON ‘SHORTCUTS’ The Morrison government has tasked the Climate Change Authority with a review of how offshore carbon credits are approved by Australian regulators. * Federal election DEFEATED PM SHELVES RELIGIOUS FREEDOMS UNTIL AFTER THE ELECTION The government will prosecute its controversial laws following the campaign at the polls after five Liberals sided with Labor to scuttle the signature policy. * Super wars FRYDENBERG ROLLED ON PROXY ADVICE CHANGES The Senate has overturned Treasurer Josh Frydenberg’s controversial proxy advice regulations just three days after they came into force. SPONSORED WORLD * Analysis * Inflation RISING US RENTS WILL KEEP PRESSURE ON INFLATION AT 40-YEAR HIGH Rents in America are rising, helping push inflation to a 40-year-high. Goldman Sachs expects further rises as leases renew and the market has new demand. * Opinion * Cars YOU DIDN’T BUY AN ELECTRIC CAR. BUT YOU’RE PAYING FOR ONE. Manufacturers need to invest billions of dollars into new production facilities for green vehicles – and that money has to come from somewhere. * International affairs BORIS JOHNSON CITES ‘THE MOST DANGEROUS MOMENT’ IN UKRAINE CRISIS Russian forces held sweeping military manoeuvres north of Ukraine in Belarus – part of a build-up of over 100,000 troops that has stoked Western fears of an invasion. * Royal family WHAT HAPPENS IF THE QUEEN IS INCAPACITATED A reading of the rules of royal succession reveal that if the Queen becomes incapacitated, Australia will be without a monarch, and Camilla will never be Queen of Australia. * Cars ELON MUSK’S TESLA SUED IN CALIFORNIA OVER ALLEGED ANTI-BLACK RACISM The lawsuit alleges CEO Elon Musk told employees to be “thick-skinned” about abuse as some black workers were called “porch monkeys” and told to return to Africa. PROPERTY * Shopping centres UNIBAIL-RODAMCO-WESTFIELD PREPARES TO DISMANTLE FRANK LOWY’S US EMPIRE Leases, rents and sales are all on the way up, URW says, as it sees the light at the end of the COVID-19 tunnel. * Home loans ‘IRRATIONAL’ BORROWERS SWITCHING TO MORE EXPENSIVE PROPERTY LOANS Fears about rising rates are causing many to rush into new fixed mortgages without considering the best loan for their finances. * Earnings season MIRVAC SAYS HOUSING PRICES RISING FASTER THAN COSTS Even as retail takes longer than expected to recover, the country’s biggest diversified developer says residential and commercial projects will hold up earnings. * Office HONG KONG REIT’S $1.1B DEAL REFLECTS CBD RESILIENCE Link REIT has finalised a deal with Canada’s Oxford Properties to invest in five office towers in Sydney and Melbourne – a portfolio worth about $2.3 billion. * Shopping centres EG FUNDS BUYS INTO GRAND PLAZA MALL Shopping centre transactions hit a record $12.8 billion last year, but the deal-making shows no sign of slowing with $1 billion worth of retail real estate hitting the market this week alone. Advertisement WEALTH * Superannuation HOW TO SURVIVE A MARKET CRASH Think you can time getting in and out of equities to stay ahead? Here’s why the experts say you’re wrong. * Opinion * Energy transition HOW AUSTRALIANS CAN CUT EMISSIONS – AND SAVE $5000 A YEAR The electrification of households, powered by renewables, can halve energy use, fire up the economy and cut our living costs. * Family finance JOINT ACCOUNTS THAT MAKE COUPLES MORE MONEY Tempted to tie the financial knot on Valentine’s Day? While accountability and an investment plan can boost savings and security, read these tips first. TECHNOLOGY * Gaming & wagering HOW AI IS TEACHING CARD SHARKS NEW TRICKS A handful of artificial intelligence-based tools has radically remade the way poker is played, especially at the highest levels of the game. * Cryptocurrencies HOW WASH TRADING IS DISTORTING THE PRICE OF NFTS Many sellers ‘wash trading’ their assets are learning that gaming the market is ‘seriously unprofitable’. * Earnings season IRIS ENERGY MINES 364 BITCOIN IN Q2, UP 51PC Nasdaq-listed Aussie bitcoin miner Iris Energy mined 364 bitcoin over the second quarter, a 51 per cent jump from the prior period. WORK & CAREERS * Jobs THE ONE THING YOU HAVE TO KNOW BEFORE YOU CHANGE JOBS The strength of the current jobs market means it is an ideal time to try something new and aim for a role for which you might not be an exact fit. * Gender pay gap PROMOTIONS HELP WOMEN MAKE INROADS TO MANAGEMENT Women scored half the promotions on offer last year, bolstering the number of female managers working in Australian businesses. Advertisement LIFE & LUXURY * Jewellery IF IT’S RIGHT, YOU KNOW IT IN YOUR BONES, SAYS FETED JEWELLER London-based Jacqueline Rabun is the master of unadorned silver – and in her latest, unisex collection for Georg Jensen, she proves her mettle again. * Gadgets MEET THE CEOS WHO CAN’T LIVE WITHOUT THEIR GARMINS Asked what their favourite gadgets were in 2021, here is what our panel of CEOs said. * Opinion * Style WHY IS JEFF BEZOS SUCH A TERRIBLE DRESSER? Jeff Bezos, with more treasure than Scrooge McDuck, looks like hell. What gives? * Motoring THIS VOLVO MIGHT BE THE ELECTRIC SUV YOU’VE BEEN AWAITING The energetic performance of the XC40 is one of its many winning attributes. The bad news is you will have to hang in there to get your hands on one. * Phones OLD FAVOURITES COME BACK WITH SAMSUNG’S GALAXY S22 The company that was the first to introduce curved screens on mobile phones has all but abandoned them for its Galaxy S22 line-up of phones. MOST VIEWED 1. * Live ASX SKIDS; TECH STOCKS LEAD LOSSES; MINERS ADVANCE 2. * Live ALBANESE SAYS NO SECURITY CONCERNS OVER LABOR CANDIDATES AMID SPY CLAIMS 3. ACCC BANK CARTEL CASE COLLAPSES 4. BHP GROUP AND THE $24B SHORT 5. JOSH FRYDENBERG SUSTAINS FULL-BODY GRAVEL RASH 6. NAB’S PROFIT BEAT SHOWS BIG FOUR ARE SPLITTING IN TWO FROM THE GALLERY DAVID ROWE CARTOONS FOR FEBRUARY 2022 Feb 10, 2022View more editorial cartoons THE AUSTRALIAN FINANCIAL REVIEW MAGAZINE NOW YOU CAN COOK NOMAD SYDNEY’S MOST POPULAR DISH * Jill Dupleix * INSIDE THE NEW HOME OF THE AUSTRALIAN CHAMBER ORCHESTRA * NEW TO NET-A-PORTER: LIMITED-EDITION ART DELIVERED TO YOUR DOOR BOSS FINANCIAL REVIEW THE ONE THING YOU HAVE TO KNOW BEFORE YOU CHANGE JOBS * Sally Patten * MAGELLAN SHOWS THE DANGERS OF KEY-PERSON RISK * HOW THIS LITHIUM MINER CEO JUGGLES A BIG FAMILY WITH A BIG JOB LIFE & LEISURE IF IT’S RIGHT, YOU KNOW IT IN YOUR BONES, SAYS FETED JEWELLER * Lauren Sams * NEED A LIE-DOWN? THIS PROJECTOR SITS UP SO YOU DON’T HAVE TO * THIS VOLVO MIGHT BE THE ELECTRIC SUV YOU’VE BEEN WAITING FOR RICH LIST YOUNG RICH LISTERS WATCH WEALTH PLUMMET AFTER HACK, CRYPTO SELL-OFF * Jessica Sier * INVESTORS WAIT FOR MINTZ’S NEXT MOVE AS CETTIRE SHARES SLIDE AGAIN * CETTIRE SHARES DIVE AS LUXURY ONLINE RETAILER SWINGS TO A LOSS The Australian Financial Review The Daily Habit of Successful People * Twitter * Instagram * LinkedIn * Facebook MY ACCOUNT MY ACCOUNT * Login SUBSCRIBE SUBSCRIBE * Subscribe * Corporate subscriptions * Student subscriptions ABOUT US ABOUT US * Products & services * Editorial team * History * Careers * Announcements * Platinum Year CONTACT CONTACT * Support * Letters to the editor * Submit a story * Advertise * FAQs MAGAZINES MAGAZINES * AFR Magazine * BOSS * LUXURY * Life & Leisure * Sophisticated Traveller COLUMNS COLUMNS * Chanticleer * Street Talk * Rear Window * The AFR View MARKETS DATA MARKETS DATA * Australian Indices * World Indices * Commodities * Bonds & Currencies * Companies index * Markets Data FAQs LISTS LISTS * Rich List * Power List * Young Rich * Women of Influence EVENTS EVENTS * Business Summit * Property Summit * Retail Summit * CFO Live * AFR Inside Markets * Banking Summit * National Infrastructure Summit * Super & Wealth Summit * Energy and Climate Summit * Higher Education Summit OUR NETWORK OUR NETWORK * The Sydney Morning Herald * The Age * Brisbane Times * WAtoday * Domain * Drive TERMS AND CONDITIONS TERMS AND CONDITIONS * Accessibility * Subscription Terms * Privacy Policy * Terms of Use * Reprints & Permissions * © Copyright 2022 The Australian Financial Review * Site Map