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AUSSIES FACE CRYPTO CONTAGION AS DIGITAL SURGE BACKFLIPS

Digital Surge has backflipped on its reassurances to worried customers that
their money was safe from the collapse of FTX after freezing withdrawals.


 * ASIC SUES BLOCK EARNER ALLEGING ITS CRYPTO PRODUCT NEEDS A LICENCE


 * BANKMAN-FRIED’S MEA CULPA IN LETTER TO FORMER FTX STAFF


 * SWYFTX-SUPERHERO MERGER ON TRACK DESPITE SURPRISE CAPITAL RAISE


 * FINDER SHUTS DOWN CRYPTO PRODUCT AMID FTX MELTDOWN

 * Mining


DEBELLE STEPS DOWN FROM FORTESCUE POST

The company says health issues related to bike crash are behind Guy Debelle’s
decision to step back from his executive post at its green energy division.

 * Opinion
 * Chanticleer


HOWARD MARKS’ 10 KEY ELEMENTS FOR INVESTING

Howard Marks says macro events, short-term performance and even volatility
shouldn’t matter to most investors. Here’s his list of what does. 

 * Shares


QANTAS, RESOURCES STOCKS POWER ASX TO SIX-MONTH HIGH

The S&P/ASX 200 rose 0.7 per cent as Qantas soared 5.3 per cent after upgrading
its profit forecasts, and energy stocks rallied on higher commodity prices.

 * White collar crime


HELEN ROSAMOND FOUND GUILTY OF NAB FRAUD

Rosamond has been found guilty of 69 fraud offences in a Sydney court on
Wednesday, with the jury set to decide on 22 more allegations.

 * Interest rates


RBNZ FORECASTS 2023 RECESSION, RAISES RATES 0.75 POINTS

The hawkish central bank now expects rates to peak at 5.5 per cent next year,
significantly above economists’ expectations.

 * Coronavirus pandemic


VIOLENT PROTESTS ERUPT AT APPLE’S IPHONE PLANT IN CHINA

Video footage showed tensions boiling over following worker lockdowns at the
factory over a COVID-19 outbreak.

 * Property market


VENDORS SLASH HOUSE PRICES BY UP TO $865K AS SELLING GETS TOUGHER

 * Opinion
 * Chanticleer


WHERE ARE ALL THE FEMALE FUNDIES?

 * Analysis
 * Air travel


WHY AIRFARES WILL KEEP RISING - IF YOU CAN GET A TICKET

 * Media & marketing


LACHLAN MURDOCH TOUCHES DOWN IN SYDNEY

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STREET TALK


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 * WA GOLD PLAY MUSGRAVE, ENERGY SOLUTIONS BIZ EP&T IN CASH CALLS
   
    * 10.35am


 * CRYPTO EXCHANGE SWYFTX HUNTS FUNDING, FLAGS BRIDGING ROUND


CHANTICLEER


 * WHERE ARE ALL THE FEMALE FUNDIES?


 * HOWARD MARKS’ 10 KEY ELEMENTS FOR INVESTING


 * HOW QANTAS DELIVERED A $1B PROFIT BOOM IN JUST SIX WEEKS


REAR WINDOW


 * PROFESSOR JOHN POLLAERS GIVES AGL LESSON IN CHUTZPAH


 * RICK DENNIS’ AF LEGAL CIRCUS COMES TO TOWN


 * SAM WALSH AO CONGRATULATES HIMSELF


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COMPANIES

 * Updated
 * Aviation


GUIDANCE UPGRADE HAS QANTAS SHAREHOLDERS EYEING BUYBACKS, DIVIDENDS

The national carrier’s board noted demand for airline seats was so strong, it
might “consider future shareholder returns in February 2023”.

 * Cryptocurrencies


ASIC SUES BLOCK EARNER ALLEGING ITS CRYPTO PRODUCT NEEDS A LICENCE

ASIC’s deputy chair Sarah Court said simply because a product hinges on being a
crypto-asset does not mean it falls outside financial services law.

 * Gas


CHINA-QATAR LNG MEGA-DEAL RAISES QUESTIONS ON SCARBOROUGH

The world’s longest-ever LNG sales contract - lasting 27 years - has highlighted
the ongoing demand in Asia for the fuel for years ahead.

 * Governance


WHY THIS BANK CHAIR BELIEVES DIRECTORS SHOULDN’T OWN SHARES

Swimming against trends, a regional bank chairwoman has argued she
philosophically believes that independent directors cannot hold shares in their
company.

 * Opinion
 * Chanticleer


HOW QANTAS DELIVERED A $1B PROFIT BOOM IN JUST SIX WEEKS

Just six weeks after shocking the market with a massive profit upgrade, Qantas
has again lifted guidance amid surging demand. 

 * Energy


US LAW WILL CRUSH AUSTRALIA’S HYDROGEN SUPERPOWER DREAMS

Australia should double down as a green energy miner instead, says Quinbrook
Infrastructure Partners.

 * Retail


UNIQLO OPENS FIVE NEW STORES

The Japanese clothing retailer says value and simplicity, along with Roger
Federer’s glow, are helping the brand as it opens five new stores.


COMPANIES IN THE NEWS

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MARKETS

 * Cryptocurrencies


BANKMAN-FRIED’S MEA CULPA IN LETTER TO FORMER FTX STAFF

In a letter to former employees, the FTX founder wrote that he ‘did not realise
the full extent of the margin position’, nor the magnitude of the risk.

 * Sharemarket


CHINA TIGHTENS COVID-19 RESTRICTIONS IN BIG CITIES AS CASES CLIMB

There were 28,183 new infections recorded nationwide for Tuesday, up from 27,307
on Monday.

 * Interest rates


RBNZ FORECASTS 2023 RECESSION, RAISES RATES 0.75 POINTS

The hawkish central bank now expects rates to peak at 5.5 per cent next year,
significantly above economists’ expectations.

 * Investing


SWYFTX-SUPERHERO MERGER ON TRACK DESPITE SURPRISE CAPITAL RAISE

Brisbane-based crypto exchange Swyftx has rejected concerns its capital
injection is in response to the dramatic collapse of FTX, insisting the cash is
for global expansion plans, as its $1.5 billion merger of budget stockbroker
Superhero remains on track.

 * Markets Live


QANTAS, CHALICE LIFT ASX TO HIGHEST IN SIX MONTHS, ENDS 0.7PC STRONGER

ASX rallies; RBNZ upgrades inflation, jobless rate; Qantas in big profit
upgrade; Serko, Abacus Property, HMC Capital affirm guidance; Mesoblast cuts
losses; PolyNovo with $30m placement.


OPINION

 * Aviation


IT’S A WONDERFUL TIME TO BE AN AIRLINE, PITY ABOUT THE PASSENGERS

Qantas passengers may resent the high prices they have to pay for flights, but
they have little choice given the combination of surging demand and limited
capacity.

Jennifer Hewett

Columnist

 * Inflation


FALLOUT FROM GLOBAL SHOCKS WILL PUSH PRICES HIGHER FOR LONGER

We are in a different place from the ‘great moderation’ when globalisation,
demographics, and technology combined to deliver more supply and less
volatility.

John Kehoe

Economics editor

 * Industrial relations


WHY MULTI-EMPLOYER BARGAINING GETS BETTER RESULTS FOR EVERYONE

Businesses should not reject multi-employer bargaining out of hand. It is better
than a status quo that no-one is happy with.

Chris F Wright

Industrial relations academic

 * Climate policy


THE MARKET CAN DELIVER THE GREEN TRANSITION – JUST NOT FAST ENOUGH

Policymakers and governments need to work out how to accelerate the process.

Martin Wolf

Columnist

 * Victorian election


LABOR HAS DELIVERED FOR ALL VICTORIANS: TREASURER

Jobs are surging in the state because the Andrews government developed and stuck
to a recovery plan through the pandemic.

Tim Pallas

Victorian Treasurer

 * Media & marketing


IS THIS THE MAN TO SAVE DISNEY?

Woke wars, film flops, political enemies - Mickey Mouse is in need of a saviour.
Can returning boss Bob Iger bring the magic back to crisis-hit Disney?

Robbie Collin

Contributor


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POLITICS

 * Super wars


‘NO CARVE-OUTS’: SUPER PERFORMANCE TEST OVERHAUL IN DOUBT

Labor’s proposal to soften the performance requirements for faith-based super
funds lacks support from both the crossbench and the Coalition.

 * Victorian election


RETIRED STARS IN BATTLE FOR SWANKY MORNINGTON PENINSULA

Sam Groth and Paul Mercurio need to win on the Mornington Peninsula for their
respective political sides to do well in Saturday’s state election.

 * Carbon challenge


TAX BREAK FOR EVS TO SAVE DRIVERS ABOUT $30,000

A Senate crossbench deal that guarantees fringe benefit tax changes will make it
cheaper to lease electric vehicles and will stoke “ballistic” demand for the
cars.

 * Industrial relations


PORTS LOCKOUT ‘ENGINEERED’ TO ROB UNIONS OF BARGAINING RIGHTS: FWC

The Fair Work Commission has declared tug boat giant Svitzer’s lockout, which
would have shut down ports around Australia, was not a legitimate way to end
bargaining with unions.

 * Exclusive
 * Investing


FUTURE FUND UNDER PRESSURE OVER FOSSIL FUEL INVESTMENTS

The government is seeking to “better align” the Future Fund’s investment
strategy with the legislated goal of achieving net zero emissions by 2050.


SPONSORED




WORLD

 * Coronavirus pandemic


VIOLENT PROTESTS ERUPT AT APPLE’S IPHONE PLANT IN CHINA

Video footage showed tensions boiling over following worker lockdowns at the
factory over a COVID-19 outbreak.

 * Ethical investing


GOLDMAN TO PAY $6M PENALTY OVER ESG FUND CLAIMS

US regulator says bank staff completed company screenings after they were
already picked for portfolios.

 * EPL


MANCHESTER UNITED OWNERS CONSIDER SELLING, RONALDO EXITS

The American Glazer family confirms it is looking for outside investors or a
potential disposal of the club after 17 contentious years.

 * FIFA World Cup


HERE’S WHAT HAPPENED IN THE WORLD CUP OVERNIGHT

The Socceroos took on reigning champions France, Mexico battled Poland, Denmark
fought Tunisia – and worst-ranked Saudi Arabia shocked favourites Argentina.

 * Income tax


ACCOUNTANT SAYS TRUMP CLAIMED DECADE OF HUGE TAX LOSSES

The accountant’s testimony is just one of a string of legal cases against the
former president as he embarks on another White House run.


PROPERTY

 * Luxury property


MOSMAN MANSION OF METIGY BOSS SOLD AS LIQUIDATORS HUNT FOR CASH

The trophy home of David Fairfull, the boss of the collapsed AI start-up, has
sold over the $9.75 million price guide.

 * Exclusive
 * Commercial real estate


BRISBANE AIRPORT RAMPS UP PROPERTY TO OFFSET FALLING AIRLINE REVENUE

The operator of the country’s third-busiest hub plans to develop 190 hectares of
space it owns over the next five years.

 * Exclusive
 * Hotels


HOLIDAY PARKS ON TRACK FOR SUMMER BLOCKBUSTER

Bookings at holiday and caravan parks for the December and January holidays are
up 37 per cent on last year, according to figures from BDO.

 * Retail


SOLAR SPLURGE PUTS REBRANDED MALL GIANT ON TRACK FOR NET ZERO BY 2026

SCA Property Group, which has rebranded to Region, will look at adding shading
structures above its open air carparks that can hold malleable solar panels.

 * Property market


HOUSING AFFORDABILITY SET TO WORSEN DESPITE FALLING HOUSE PRICES

Rapid rises in interest rates has pushed up the portion of income needed to
repay a new mortgage by 4.4 percentage points to 43.3 per cent nationwide.


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WEALTH

 * Opinion
 * Investing


HAS INFLATION BROKEN THE RELATIONSHIP BETWEEN STOCKS AND BONDS?

Dismissing the value of bonds in a balanced and diversified portfolio based on
an event that has historically occurred 13 per cent of the time doesn’t make
sense.

 * Opinion
 * Inflation


WHY ‘STICKY’ INFLATION MAY KEEP RATES HIGHER

Markets appear to be underestimating how difficult it will be to fully squeeze
inflation out of the system.

 * Ageing


RETIRING INTO A DOWNTURN? WHY YOU SHOULD CONSIDER DELAYING

Putting off retirement or seeking flexible work can reduce withdrawals and boost
savings as asset values fall.


TECHNOLOGY

 * Cybersecurity


REWARD ETHICAL HACKERS WITH ‘BUG BOUNTY’, COMPANIES URGED

Australia’s top cyber spies want companies to reward ethical hackers who find
flaws in their web defences under a “bug bounty”.

 * Exclusive
 * E-commerce


KOALA ADOPTS CO-CEO MODEL BEFORE POSSIBLE LISTING

The mattress and furniture ecommerce company is bolstering its executive ranks
ahead of a big 2023.

 * Funding


MACQUARIE CAPITAL, WOOLIES VC BACK LOCAL HR TECH START-UP

Sapia.ai, previously called PredictiveHire, has raised $17 million to crack the
US software market.


WORK & CAREERS

 * Graduate jobs


ATLASSIAN WORKFORCE GETS YOUNGER AMID GRADUATE HIRING BOOM

The tech giant has experienced a surge in the number of younger workers on its
staff as part of a wider bump in graduate employment linked to continuing skills
shortages.

 * Opinion
 * Chanticleer


ASX FIRM SHOWS BOB IGER’S DISNEY RETURN COULD WORK

Bob Iger’s return to the CEO role at Disney has brought scepticism and praise.
But overseas and local examples suggest the comeback kid can work.


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LIFE & LUXURY

 * Saleroom


ART SALE RECORDS KEEP TUMBLING AS COLLECTORS SPEND UP

The year-end sales have delivered new highs for Del Kathryn Barton and Albert
Namatjira, among others, with rare works from Brett Whiteley and Howard Arkley
up next.

 * Fashion retail


HOW THIS CEO GETS HIS TEAM TO DO TRIATHLONS WITH HIM

Lululemon CEO Calvin McDonald trains twice a day. “If it matters, you get it
done.”

 * FIFA World Cup


SOCCEROOS FLOORED BY FRANCE AT WORLD CUP

Australia landed an early blow before being floored by a power-packed France in
a 4-1 loss to the reigning World Cup titleholders in Qatar.

 * Motoring


MEET VW’S NEW TESLA RIVAL – JUST DON’T HOLD YOUR BREATH FOR ONE

It won’t hit Australian showrooms for quite some time, but Volkswagen’s first
fully electric car, an SUV known as the ID.4, should be on your radar.

 * Retail


WATCH A $900 BAG BEING MADE: HOW RETAIL STORES ARE WINNING YOU BACK

Just browsing? Take a look at what these creative shopkeepers have inside, and
why they think bricks are better than clicks.


MOST VIEWED


 1. QANTAS, CHALICE LIFT ASX TO HIGHEST IN SIX MONTHS, ENDS 0.7PC STRONGER


 2. US LAW WILL CRUSH AUSTRALIA’S HYDROGEN SUPERPOWER DREAMS


 3. AUSSIES FACE CRYPTO CONTAGION AS DIGITAL SURGE BACKFLIPS ON CUSTOMERS


 4. THE BRAVE WOMAN BEHIND VICINITY’S CEO SCANDAL


 5. TAX BREAK FOR EVS TO SAVE DRIVERS ABOUT $30,000


 6. WORKERS TOLD TO STAY HOME AS COVID-19 ‘VARIANT SOUP’ DRIVES WAVE


FROM THE GALLERY


DAVID ROWE CARTOONS FOR NOVEMBER 2022

Nov 22, 2022View more editorial cartoons


THE AUSTRALIAN FINANCIAL REVIEW MAGAZINE


WATCH A $900 BAG BEING MADE: HOW RETAIL STORES ARE WINNING YOU BACK

 * Lauren Sams


 * WHY TIFFANY ‘AUDITIONS’ EVERY GEM FOR ITS MOST EXPENSIVE JEWELLERY


 * FAST-GROWING AUSTRALIAN JEWELLERY BRAND EYES OVERSEAS MARKETS


BOSS FINANCIAL REVIEW


HOW THIS CEO GETS HIS TEAM TO DO TRIATHLONS WITH HIM

 * Lauren Sams


 * THIS CEO LEARNT IT WAS OK TO BE AN INTROVERT


 * THIS CEO FOUND HIMSELF IN THE NT WITH A BILLIONAIRE’S SON. IT DIDN’T GO SO
   WELL


LIFE & LEISURE


UNLOCKING SOUTH AND CENTRAL AMERICA AT SEA

 * Kate Armstrong


 * LIVING AMONG LEOPARDS: HOW THIS VILLAGE THRIVES WITH THE BIG CATS


 * MEET VW’S NEW TESLA RIVAL – JUST DON’T HOLD YOUR BREATH FOR ONE


RICH LIST


THE GLOBAL SCRAMBLE FOR ELECTRICITY CABLES TO UNLOCK CLEAN ENERGY

 * Simon Evans


 * MCGOWAN TAPS MINING GIANTS FOR $1B ‘COMMUNITY FUND’


 * CETTIRE SHARES TUMBLE AS FOUNDER POCKETS NEARLY $60M IN SELL-DOWN

The Australian Financial Review

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