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Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statement * Today's Paper * Markets Data * Events * Lists * Subscribe * Log in THE AUSTRALIAN FINANCIAL REVIEW MenuSearch Newsfeed Newsfeed * Log in * Home * Companies * Financial Services * Mining * Professional Services * Retail * Telecommunications * Energy * Healthcare & Fitness * Infrastructure * Transport * Media & Marketing * Gaming & Wagering * Manufacturing * Agriculture * Sport * Tourism * Markets * Equity markets * Commodities * Currencies * Debt markets * Markets Live * Markets Data * Street Talk * Politics * Federal * Canberra Observed * Federal Election * NSW Election * Policy * Carbon Challenge * Economy * Energy & Climate * Foreign Affairs & Security * Tax & Super * Health & Education * Public Service * World * North America * Asia * Europe * Middle East * Pacific * South America * Central America * Africa * Property * Residential * Commercial * Technology * Fintech * Start-ups * Social Media * Enterprise IT * Technology Reviews * Opinion * The AFR View * Chanticleer * Rear Window * Letters to the Editor * Wealth * Investing * Personal Finance * Superannuation & SMSFs * Tax * People * Rich List * Young Rich * Wealth Generation * Work & Careers * Careers * Workplace * Management * Education * Executive Education * Leaders * BOSS * Women of Influence * Power List * Life & Luxury * Travel * Cars, Bikes & Boats * Health & Wellness * Food & Wine * Fashion & Style * Arts & Culture * Design * AFR Magazine * Fin! Magazine * Life & Leisure Close menu Search Search * Home * CompaniesExpand * MarketsExpand * Street Talk * PoliticsExpand * PolicyExpand * WorldExpand * PropertyExpand * TechnologyExpand * OpinionExpand * WealthExpand * Work & CareersExpand * Life & LuxuryExpand MORE * Today's Paper * Markets Data * Events * Lists Advertisement AUDUSD0.6461 0.0009 (0.14%)0.14%Toggle market snapshot SPI 2007,277.00 -19.00 (-0.26%)-0.26% S&P/ASX 2007,318.80 40.50 (0.56%)0.56% All Ords7,525.70 35.80 (0.48%)0.48% NZX 504,498.83 -4.29 (-0.10%)-0.10% Hang Seng18,844.16 462.10 (2.51%)2.51% Nikkei32,939.18 228.56 (0.70%)0.70% View all * Executive shake-up ALAN JOYCE TO DEPART QANTAS EARLY The divisive chief executive has advised the airline’s board he is not sticking around as regulatory scrutiny grows. * PM DEFIANT ON QANTAS AS WA JOINS LABOR SPLIT * JOYCE ALWAYS PUT QANTAS ‘FRONT AND CENTRE’: GOYDER * WHY QANTAS NEEDS A NEW FLIGHT PLAN * I WAS A LOYAL QANTAS CUSTOMER FOR 30 YEARS. NOT ANY MORE * QANTAS BOARD MICRODOSING REALITY, FREEBASING DELUSION * Live * Need to Know JOYCE ALWAYS PUT QANTAS ‘FRONT AND CENTRE’: GOYDER Qantas chairman Richard Goyder “sincerely” thanks Alan Joyce for his leadership and forward-thinking; Adam Bandt calls on Labor to share the advice it received about Qatar Airways’ flight request. Follow updates here. * Industrial relations UNIONS TO LAUNCH ROLLING 24-HOUR STRIKES AT CHEVRON’S WA PLANTS Unions are preparing to ramp up industrial action, giving notice of full-blown strikes at Gorgon and Wheatstone LNG facilities from next week. * Live * Markets Live ASX TO FALL AS RBA RATE DECISION LOOMS Australian shares are set to open lower. Alan Joyce to depart Qantas tomorrow. Follow updates here. * Industrial relations BURKE TO ENTRENCH FAIR WORK POWERS OVER BUSINESS The Albanese government’s next wave of workplace changes will put the onus on business to prove they’re not caught by the tough wide-ranging laws. * Electric cars EUROPE’S PETROL CAR BAN WILL HELP CHINESE RIVALS, SAYS BMW BOSS But the CEO of fellow German auto giant VW says his company is ready to take on its cheaper Asian competitors – partly by joining forces with one of them. * Mergers & acquisitions LIONTOWN, BALD HILL LITHIUM DEALS CEMENT US CRITICAL MINERALS ALLIANCE Albemarle’s improved Liontown offer and Mineral Resources’ bid to snatch the Bald Hill lithium mine from a Chinese-linked suitor could entrench the US alliance. * Opinion * Property market BUYING OR SELLING? TIPS FOR RISING – AND FALLING – MARKETS * Leadership lessons WANT TO START YOUR OWN FIRM? QUIT YOUR DAY JOB, SAYS THIS CEO * Exclusive * Venture capital HOW CANVA HELPED THESE FUNDS MAKE A MEGA FORTUNE * Opinion * Letters to the Editor WHY DOES QANTAS GET AWAY WITH THIS? Breaking news on companies, politics and economics, in your inbox as it happens. Sign up for the newsletter STREET TALK * JUDO BANK PITCHES FIRST SECURITISATION DEAL; MANDATES FIVE BANKS * ORORA TO RAISE $1.35B TO BUY CARLYLE’S SAVERGLASS * MELBOURNE CLIMATE RISK CONSULTANCY ENERGETICS UP FOR SALE; PWC HIRED CHANTICLEER * QANTAS FURORE COULD BOOST ACCC’S M&A REFORM PUSH * WHY WEBJET IS USING REVENGE TRAVEL CASH TO BUY BACK PANDEMIC-ERA FUNDS * WHY THIS PRIVATE EQUITY PARTNER IS WATCHING THE HOUSING MARKET REAR WINDOW * TABCORP ENTERS ITS LATE-TOBACCO ERA * TWIGGY AND THE BAD APPLES * QANTAS BOARD MICRODOSING REALITY, FREEBASING DELUSION Video Player 00:00 00:00 Use Up/Down Arrow keys to increase or decrease volume. Advertisement QANTAS SCANDAL * Exclusive * Aviation ACCC URGES LABOR TO MOVE ON SYDNEY AIRPORT OVERHAUL In an interview the chairwoman of the competition watchdog, Gina Cass-Gottlieb, said it was “a key time” for the chance to expand and provide competitive constraint. * Exclusive * WA Parliament ‘SO-CALLED NATIONAL CARRIER’: COOK SLAMS QANTAS, BACKS COMPETITION WA Premier Roger Cook has launched an extraordinary attack on the airline, questioning whether it deserves the title of Australia’s “national carrier”. * Competition PM DEFIANT ON QANTAS AS WA JOINS LABOR SPLIT Anthony Albanese declared Australia had the most competitive airline market in the world and shrugged off a growing split in Labor over blocked Qatar Air flights. * Opinion * Chanticleer QANTAS FURORE COULD BOOST ACCC’S M&A REFORM PUSH The Qantas mess has put competition policy in the spotlight. That’s good news for ACCC boss Gina Cass-Gottlieb and her campaign for merger reform. * Competition LABOR SPLITS ON QANTAS AS QUEENSLAND BACKS VIRGIN-QATAR If it were up to Queensland, the additional Qatar Airways flights into Australia, including Brisbane, “would be approved”, acting Premier Steven Miles said. Get the latest business news on the go with the AFR app. Now available for Android and iOS. Find out more COMPANIES * Casinos SKYCITY SHARES DIVE ON NEW ZEALAND CASINO LICENCE SUSPENSION THREAT The temporary loss of its gaming licence at Auckland, Hamilton and Queenstown could deliver a major earnings hit to the ASX-listed wagering group. * Regulation ASIC SUES WESTPAC FOR IGNORING 229 HARDSHIP REQUESTS The regulator alleges the bank breached the National Credit Code and Corporations Act for ignoring hundreds of pleas for help from struggling customers. * Energy transition NEW WIND FARMS FACE STUMBLING BLOCK IN ‘BASKET CASE’ NSW No wind farms have been approved in NSW since May 2021, meaning a big catch-up is required to put the state back on track for 2030 targets. * Payments TYRO SUES CANADIAN COMPETITOR FOR ATTEMPTING TO STEAL ITS CUSTOMERS Tyro has launched a NSW Supreme Court action against Kounta, a subsidiary of Canadian-based Lightspeed, for allegedly soliciting its hospitality clients. * Investing AUSTRALIAN COUPLE DEFRAUDED WEALTHY AMERICANS, SEC CLAIMS Andrew and Helen Waters targeted the parents of their children’s friends in California and Aspen to pay for a “lavish” lifestyle, the US regulator alleges. * Energy transition WEBUILD’S AUSTRALIAN BUSINESS SAVED BY SNOWY 2.0 RESTRUCTURE Italian engineering group Webuild was facing losses of $4 billion to $5 billion on Snowy 2.0 before the contract was restructured. * Mergers & acquisitions PEPPER GOES AGAINST THE GRAIN, BUYS HSBC’S NEW ZEALAND HOME LOAN BOOK CEO Mario Rehayem said the acquisition will give Pepper the appropriate scale to capitalise on future market opportunities, including a probe into bank profitability. 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 * Sharemarket OIL PRICE RALLY REIGNITES HEADLINE INFLATION RISKS Oil led commodity prices higher as Russia and Saudi Arabia signalled more supply cuts, potentially complicating the West’s inflation battle. * Before the Bell HERE’S WHAT HAPPENED IN MARKETS OVERNIGHT Australian shares were set to fall as Philip Lowe was poised to host his final board meeting as governor. Wall Street was closed. Bitcoin slipped. * Wall Street STRATEGISTS SAY WALL STREET SET FOR A STRONG END TO THE YEAR September is usually a bad month for markets, but the charts are telling Bank of America it could be different this time. * Sharemarket CHINA HOPES LIFT ASX AS IRON ORE GIANTS RALLY The benchmark S&P/ASX 200 ended the session 40.5 points, or 0.6 per cent, higher at 7318.8. The All Ordinaries closed up 0.5 per cent. * Investing RBA TO LEAVE RATES ON HOLD AHEAD OF ECONOMIC GROWTH DATA THIS WEEK Shares will have an upbeat start on Monday ahead of a busy week with the RBA policy meeting, national accounts data and a final speech by governor Philip Lowe. OPINION * Industrial relations LABOR’S WAGE THEFT BILL IS A TROJAN HORSE FOR TRICKIER IR ISSUES Some measures in Labor’s omnibus bill are eminently defensible. But business plans an ad campaign against “the most extreme interventionist workplace changes proposed in Australia”. Phillip Coorey Political editor IS ASEAN NEUTRALITY A RECIPE FOR STRATEGIC IRRELEVANCE IN ASIA? Given the hard power realities of great power competition between the US and China, it’s hard to see how ASEAN neutrality fits with “ASEAN centrality” and the idea that South East Asia should play a meaningful role in determining Asia’s future. The AFR View Editorial * Energy transition IT’S TIME FOR NSW TO CLOSE ERARING The AEMO has shown that unreliable and risky coal-fired generators can be replaced by renewables, batteries, and gas peaking power. Tim Buckley Clean energy advocate * China’s Great Slowdown CHINA LEARNS NOTHING FROM THE FINANCIAL CRISES OF OTHERS Beijing’s reluctance to bite the bullet on bad assets looks like an error that the whole global economy may pay for. Adrian Blundell-Wignall Economist * Foreign relations WHY TAIWAN SHOULD BE RECOGNISED BY THE UN Allowing Taiwan to meaningfully participate in the UN system would benefit the world’s efforts to address pressing global issues. Joseph Wu Contributor * Mining LABOR’S IR LAWS AT ODDS WITH CASHING IN ON NEXT MINING BOOM Mining leaders are warning Australia risks losing the benefits of another resources boom in critical minerals. Jennifer Hewett Columnist Reports TECHNOLOGY - SIGNS OF SPRING This story is part of an AFR special report on the nascent recovery in the tech sector. View all 5 stories ‘SOME TURMOIL’ BUT TECH CROWD GREETS SPRING AFTER FUNDING WINTER WOMEN ON THE FRONT LINES OF CYBER BATTLE View all 5 stories Advertisement POLITICS * Mining PM AND MINING SECTOR AT ODDS OVER ‘EXTREMIST’ IR LAWS Anthony Albanese’s olive branch to business has been rejected by the mining sector. * Gig economy LABOR LAWS RISK DOUBLE STANDARD FOR GIG WORKERS: EXPERTS Gig economy workers who use platforms such as Uber eats could be treated differently to those who use traditional notice boards to pick up work under Labor’s new workplace laws. * South China Sea ALBANESE EMBARKS ON A THREE-NATION REGIONAL BALANCING ACT Anthony Albanese will spend the next six days trying to stabilise the relationship with Beijing, while strengthening ties with those who are threatened by China. * Exclusive * WA Parliament ‘SO-CALLED NATIONAL CARRIER’: COOK SLAMS QANTAS, BACKS COMPETITION WA Premier Roger Cook has launched an extraordinary attack on the airline, questioning whether it deserves the title of Australia’s “national carrier”. * Exclusive * Aviation ACCC URGES LABOR TO MOVE ON SYDNEY AIRPORT OVERHAUL In an interview the chairwoman of the competition watchdog, Gina Cass-Gottlieb, said it was “a key time” for the chance to expand and provide competitive constraint. SPONSORED WORLD * Russia-Ukraine war NORTH KOREAN LEADER KIM JONG-UN TO MEET PUTIN IN RUSSIA: REPORT The two leaders are expected to discuss the possibility of North Korea supplying weapons for the war in Ukraine, the New York Times reported. * Music festivals TENS OF THOUSANDS STILL STRANDED BY BURNING MAN FLOODING Event organisers said it was still too wet for a safe mass departure of RVs and other vehicles, but hoped traffic could begin flowing later in the day. * Russia-Ukraine war CHINESE LENDERS EXTEND BILLIONS OF DOLLARS TO RUSSIAN BANKS The moves by four of China’s biggest banks are part of Beijing’s efforts to promote the renminbi as an alternative global currency to the dollar. * Russia-Ukraine war ZELENSKY REPLACES WARTIME DEFENCE MINISTER The move sets the stage for the biggest shake-up of Ukraine’s defence establishment since Russia launched its full-scale invasion in February 2022. * G20 summit INDIA SWEEPS NEW DELHI’S POOR UNDER THE RUG FOR G20 SUMMIT For many street vendors and those crammed into New Delhi’s shantytowns, the makeover has meant displacement and loss of livelihood. PROPERTY * Property development RICH LISTER BACKED COMPANIES IN LIQUIDATION OVER DEFECTS DISPUTE Tony Denny says it was necessary to appoint liquidators after an owners corporation made an “eight figure claim” against his construction company. * Property development NEW YIMBY HOUSING GROUP TO PUSH FOR APARTMENTS NEAR TRAIN LINES Housing Now! will push NSW to speed up approvals of new homes and support more apartment buildings near train stations. * Commercial real estate MAJOR PROPERTY DEALS ON HOLD AS BUYERS, SELLERS FACE OFF ON PRICES Deal flow in office towers, malls and warehouses has slumped to half or less of what it was a year ago. Sellers and buyers are still miles apart. * Shopping centres BIG MALLS LANGUISHING ON THE MARKET – FOR YEARS A mismatch between the value expectations of sellers and buyers has left $2.5 billion worth of shopping centres unsold. The dry season may be ending. * Auctions SPRING AUCTION START YIELDS STRONGER-THAN-EXPECTED DEMAND For an empty Northbridge block, bidding stalled at $5.75 million before it eventually sold for $7.7 million. Advertisement WEALTH * Opinion * Property market BUYING OR SELLING? THE BEST TIPS FOR RISING – AND FALLING – MARKETS Here are some tried and true strategies for investors navigating market shifts in both directions. * Home loans TWO RATE INCREASES FROM CRISIS BUT UNABLE TO AFFORD FINANCIAL ADVICE Higher mortgage payments and surprise twins have pushed the Mohamad family to financial breaking point, but they cannot afford financial advice. * Investing AUSTRALIAN COUPLE DEFRAUDED WEALTHY AMERICANS, SEC CLAIMS Andrew and Helen Waters targeted the parents of their children’s friends in California and Aspen to pay for a “lavish” lifestyle, the US regulator alleges. TECHNOLOGY * Cybersecurity INSIDE OPTUS’ SECRET CYBERATTACK BRIEFINGS The victims of last year’s massive cyberattacks have refused to tell the public what happened, but behind closed doors they are helping others avoid the same fate. * Exclusive * Working from home WORK FROM HOME ERA PUSHES MORE TECH JOBS OFFSHORE High salaries, a skills shortage and more staff looking to work permanently from home has pushed bosses to look overseas to find professionals for IT roles. * Opinion * Review BRINGING SOME ORDER TO THE INTERNET OF THINGS CHAOS A new sensor from the low-cost Chinese IoT maker Aqara shows a way forward out of the home automation mess. WORK & CAREERS * Trucking MINISTER GETS BROAD POWERS TO SET CONDITIONS IN TRUCKIE SUPPLY CHAIN The Albanese government will resurrect a federal system to set minimum pay for owner-drivers, claiming its opponents now support it. * Wage scandal SPOTLESS FACES CRIMINAL CHARGES OVER $17K IN LEAVE UNDERPAYMENTS Victoria’s wage theft agency filed the charges, saying the amount of underpayment “never tells the full story”. Advertisement LIFE & LUXURY * About Time Watch Fair BREITLING TO LAUNCH AUSTRALIAN LIMITED-EDITION WATCH At the About Time watch fair on September 22-23, enthusiasts can see the new Chronomat and get the lowdown on how to wear the brand’s latest colourful models. * Travel $780 FOR A ROUND OF GOLF? YOU’LL CERTAINLY NEVER FORGET IT New Zealand has so many fabulous golf courses, it could be referred to as the land of the long white bunker. And in fact not all of them are pricey. Here are eight of the best. * Time Out Q&A ENTREPRENEUR KEEPS SHOOTING FOR SUCCESS Hayley Clarke, a co-founder of CandleXchange, has had a burning passion for netball since she was a child. Now she’s added coaching to her skill set. * Floods ONE DEAD, 70,000 STRANDED AS BURNING MAN FESTIVAL FLOODS Revellers have been urged to conserve supplies of food and water while stuck in foot-deep mud with no working toilets in the northern Nevada desert. * Travel AN INSIDER’S GUIDE TO TRAVELLING IN GREECE Athens born and bred orchestral conductor Zoe Zeniodi goes home whenever her schedule allows. Here are her personal favourite places to dine and explore. MOST VIEWED 1. PM DEFIANT ON QANTAS AS WA JOINS LABOR SPLIT 2. ‘SAME JOB SAME PAY’ LEGISLATION INTRODUCED TO PARLIAMENT 3. LIONTOWN LIFTS THE ASX, SKYCITY TUMBLES 15PC 4. ONE DEAD, 70,000 STRANDED IN BURNING MAN FESTIVAL FLOOD 5. NON-STOP RUDD KNOCKS ON A CLOSED AMERICAN DOOR 6. QANTAS BOARD MICRODOSING REALITY, FREEBASING DELUSION FROM THE GALLERY DAVID ROWE CARTOONS FOR SEPTEMBER 2023 Sep 3, 2023View more editorial cartoons THE AUSTRALIAN FINANCIAL REVIEW MAGAZINE FROM RICHES TO RAGS TO RICHES AGAIN: TAMARA RALPH’S COUTURE COMEBACK * Glynis Traill-Nash * THE FASHION BUSINESS THAT ‘DESERVES TO BE ON THE ASX’ * HOW TO MAKE A CHEF’S EASY POTATO BAKE THAT DOUBLES DOWN ON THE CRUNCH BOSS FINANCIAL REVIEW WANT TO SET UP YOUR OWN COMPANY? QUIT YOUR DAY JOB, SAYS THIS CEO * Sally Patten * THIS CEO KNOWS WHAT IT IS LIKE TO LOSE EVERYTHING * WANT TO GET AHEAD? SAY NO TO GOOD OPPORTUNITIES LIFE & LEISURE BREITLING TO LAUNCH AUSTRALIAN LIMITED-EDITION WATCH * Bani McSpedden * ENTREPRENEUR KEEPS SHOOTING FOR SUCCESS * $780 FOR A ROUND OF GOLF? YOU’LL CERTAINLY NEVER FORGET IT RICH LIST RICH LISTER BACKED COMPANIES IN LIQUIDATION OVER DEFECTS DISPUTE * Larry Schlesinger * THOSE SUMMER NIGHTS: WHO WENT WHERE IN EUROPE ’23 * SYDNEY’S SOHO HOUSE BACK TO THE DRAWING BOARD AS NEIGHBOURS BAULK 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 * Charter of Editorial Independence * History * Careers * Announcements * Corrections * Platinum Year CONTACT CONTACT * Support * Letters to the editor * Submit a story * Advertise * Delivery Status MAGAZINES MAGAZINES * AFR Magazine * Fin! 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