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FACEBOOK HIT WITH ITS MOST SERIOUS CRISIS YET

The social network is feeling the cold hand of mortality on its shoulder as it
sees a decline in user numbers and advertising growth, writes Ben Marlow.

 * Energy transition


LITHIUM PRICE ROCKETS 45PC WITH NO END IN SIGHT

The most relevant commodity price for Australian lithium exporters rose by more
than 45 per cent in January alone and experts reckon it will keep rising.

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FACEBOOK SUFFERS BIGGEST WIPEOUT IN MARKET HISTORY

Meta has suffered a $320 billion blow to its market value in one day as
investors rethink their love of the stock.

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HOSPITAL ADMISSIONS FALL IN NSW

Another 67 people have died with COVID-19 in Victoria and NSW, where cases and
hospitalisations continue to drop; Police move on anti-vaccine mandate
protesters in ACT. NSW to provide an update at 10:30am Watch here.

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SCHOOLS ARE NOW ENGLAND’S OMICRON HOT-HOUSE

Battle-weary parents are becoming blasé about the constant presence of COVID-19
in the classroom.

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GOLDMAN SACHS NAMES CONSUMER AND RETAIL HEAD

Goldman Sachs has called in its TMT head Adrian Lee to lead consumer and retail
coverage, after Will Broughton left for Sayers Group.

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WHY VEGAN MEAT IS THE WORST JUNK FOOD OF ALL

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SIX BIOHACKS THE SUPER RICH ARE USING TO LIVE TO 100

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ZUCKERBERG’S WEALTH PLUNGES BY $43B AFTER META SHOCK

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THIS PORTABLE MONITOR IS THE ANSWER TO WFH

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 * GOLDMAN SACHS NAMES CONSUMER AND RETAIL HEAD
   
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CHANTICLEER


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REAR WINDOW


 * LABOR PAINS FOR ARNOLD BLOCH LEIBLER


 * SLATTERY REBUFFED TWICE ON DIRECTOR OPTIONS GRANT


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REVIEW

 * Investing


HOW A MAN WHO WASHED HIS OWN UNDERWEAR BUILT INVESTMENT COLOSSUS GIC

Singapore’s decision 40 years ago to put its currency reserves to work in the
Government of Singapore Investment Corporation has paid off big time.

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A YEAR ON FROM THE COUP, MYANMAR IS ‘A COMPLETE BASKET CASE’

Around 1500 civilians have been killed, Myanmar’s economy is in shreds, and half
the population – among those who haven’t fled – lives in extreme poverty.

 * Opinion
 * UK leadership


BORIS JOHNSON’S REAL PROBLEM IS NOT CAKE AND PROSECCO

A lack of personal integrity could be the undoing of the British Prime Minister.

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WHY SPOTIFY’S JOE ROGAN PROBLEM ISN’T GOING AWAY

The risk for the streaming platform, which has aggressively promoted Rogan’s
podcast, is that music’s biggest stars will join the protest.

 * Billionaires


CHINA’S AGEING TYCOONS PREPARE TO HAND OVER $1.5 TRN TO HEIRS

The real succession drama is happening right now as moguls who built the
country’s biggest business empires kick-start an era of massive wealth
transfers.


LIFE & LEISURE

 * Travel


READY TO RETURN TO PARIS? A BEVY OF GRAND NEW HOTELS AWAITS

Whether you are looking for a traditional French getaway, or something with a
touch of modern chic, this is what the city’s newest hotels have to offer.

 * Opinion
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A LUXURY LANDCRUISER WITH A HUGE WAITING LIST

Toyota’s luxurious 2.6-tonne monster beats the vehicle it replaces on almost
every score – which may help explain the long, long waiting list.

 * Opinion
 * Wine & spirits


WINEMAKERS FIRE UP THEIR WHISKY STILLS

Demand for craft spirits has inspired several heritage Australian wine companies
to dust off long-mothballed equipment and get on the whisky bandwagon.

 * Travel


CHOOSE YOUR ARCHITECTURAL ADVENTURE AT HOBART’S NEWEST LUXURY HOTEL

After pandemic delays and great anticipation, The Tasman is finally open.

 * Time Out Q&A


HOW THIS UBER EXECUTIVE FINDS CLARITY ON THE RUN

There is no form of exercise that requires less planning and less investment
than running, says Dom Taylor, who grabs any moment he can to hit the road.


COMPANIES

 * Earnings season


REA GROUP DEFIES COVID-19 TO DECLARE RECORD DIVIDEND

REA Group benefited from a resilient Australian residential property market with
national listings up 17 per cent for the half.

 * Opinion
 * Chanticleer


MAGELLAN AND PLATINUM BOTH CAN’T BE RIGHT

Magellan and Platinum have very different responses to the current market
volatility, with one avoiding the stocks that the other loves. 

 * Opinion
 * Chanticleer


WESTPAC LANGUISHES AT HALF THE VALUE OF CBA AFTER LOST DECADE

Australia’s oldest bank was once the country’s biggest and best performing. Now,
it trades at the largest discount to its big four peers in history.

 * Earnings season


NEWS CORP DELIVERS PROFIT AS FOXTEL’S REVENUES DROP

News Corp is focused on pitching Foxtel as a success story as revenues for the
pay TV group drop by 3 per cent in the second quarter of fiscal 2022.

 * Earnings season


WESTPAC SAYS A HIGHER CASH RATE WILL POINT TO ECONOMY’S STRENGTHS

Bank margins are under pressure from competition in mortgages and the withdrawal
of support from regulators. But rising interest rates signal a recovery.

 * Exclusive
 * Funding


CBA BACKS ‘LIVE NOW, BUY LATER’ START-UP THAT WILL DITCH HOME DEPOSITS

CBA and Square Peg are backing a $31 million investment in OwnHome, a fintech
start-up that claims to offer first home buyers an affordable way into the
market.

 * 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.


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MARKETS

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BUFFETT STRIKES GOLD AS JAPAN TRADING HOUSES RAKE IN RECORD PROFITS

Warren Buffett shocked the world in 2020 when Berkshire Hathaway bought stakes
in five of the country’s biggest trading companies. Now he’s cashing in.

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BANK OF ENGLAND LIFTS KEY RATE BY 25 BASIS POINTS

UK policymakers met expectations though they were just one vote short of
approving a 50-basis-point increase.

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AMAZON REPORTS STRONG QUARTERLY RESULTS DESPITE SUPPLY CHAIN SNAGS

Shares in Amazon rebounded in after-hours trading even though it forecast weaker
than expected sales in the current quarter.

 * Before the Bell


ASX TO FALL, META DRIVES US DROP, GLOBAL RATE HAWKS TAKE FLIGHT

Australian shares are set to open lower as Meta’s shock weakness triggered a
global sell-off and central bankers pivot ever more hawkish.

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LAGARDE PIVOTS AS 2022 ECB RATE RISE NO LONGER RULED OUT

Investors brought forward bets on European Central Bank action after the
monetary chief’s unexpectedly hawkish comments.


OPINION

 * Canberra Observed


THE PANDEMIC IS DRAINING THE POWER OF INCUMBENCY

Once upon a time, solidarity in facing COVID-19 got governments re-elected.
That’s now turned into voter irritation that might toss them out.

Phillip Coorey

Political editor

 * Big four


WESTPAC LIKES WHAT IT SEES ABOUT THE ECONOMY

It is the first of the big banks to update its quarterly results and says the
level of stress felt by business and mortgage borrowers is lower than it was
before the pandemic.

Jennifer Hewett

Columnist

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PM’S PRESS CLUB GRILLING WAS A SORRY BUSINESS

The 2022 federal election should be a genuine, policy-focused contest of ideas,
not simply the referendum on the Prime Minister that some in the media want it
to be.

The AFR View

Editorial

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HOW THE LIBERALS HAVE FOUND THEIR INNER KEVIN

The Liberals are now besotted with the grandiose language of planning, straight
from the Kevin Rudd School of Management.

John Roskam

Columnist

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RBA OPENS DOOR TO WINDING BACK DIRT CHEAP MONEY

After putting some monetary policy flexibility back on the table, Australia’s
well-respected central bank has the chance to come through this extraordinary
period with its policy credibility intact.

The AFR View

Editorial

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THE BIGGEST LESSON FROM 50 YEARS OF TRADING ON THE JSE

As the son of a fund manager, my entire inheritance is invested in the
stockmarket. Now I finally understand why.

Jonathan Shapiro

Senior reporter


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POLITICS

 * Federal election


PM BACKS MCGOWAN ON SHUT BORDER BUT TELLS HIM TO GET HOSPITALS READY

Scott Morrison has backed Mark McGowan delaying indefinitely the reopening of
Western Australia’s borders - with some free advice.

 * Diversity


RELIGIOUS SCHOOLS TO LOSE POWER TO EXPEL GAY STUDENTS

Scott Morrison says amendments to existing discrimination legislation will
protect same-sex attracted children

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UNIONS WARN OF ‘NEW BATTLEGROUND’ AS OLD AGREEMENTS FUEL WAGE INERTIA

Unions say this will be a “year of reckoning” as workers see wages go backwards
through locked-in pay rises that are being quickly surpassed by rising
inflation.

 * Media & marketing


GOVERNMENTS SPENT BIG ON VACCINATION ADVERTISING

State and federal governments doubled their advertising spend in 2021, turning
to TV and radio to convince Australians to get vaccinated.

 * Legal industry


SENATE COMMITTEE SIGNS OFF ON LITIGATION FUNDING REFORM, WITH CAVEATS

The approval was despite the committee recommending amendments to the bill,
questioning its constitutionality, and admitting it was ‘not possible’ to know
whether the bill would achieve its aims.


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WORLD

 * UK leadership


FOUR AIDES QUIT AS BORIS JOHNSON ATTEMPTS RESET

Boris Johnson’s premiership is facing a growing crisis amid anger over a series
of alcohol-fuelled parties held at his office and residence during coronavirus
lockdowns.

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HOW BONE-DRY BEIJING CREATED SNOW FOR THE WINTER OLYMPICS

The host city of this year’s Winter Games has had to make millions of cubic
metres of the white stuff, helped by a Finn who is the world’s top snowmaker.

 * Courts


HE SPIKED HIS DAD’S TEA TO ACCESS $561K IN CRYPTO. HIS DAD SURVIVED.

Liam Ghershony, 24, gave his father benzodiazepine powder, so he could transfer
his bitcoin to his own account. Two days later his father was still unconscious.

 * World politics


LITHUANIA CALLS FOR MORE GERMAN TROOPS TO FACE RUSSIA ‘THREAT’

President Gitanas Nauseda says the Baltic countries face their biggest danger
since regaining independence.

 * Coronavirus pandemic


NEW ZEALAND TO REOPEN BORDERS AS FRUSTRATION MOUNTS

New Zealand’s closed border has cut the supply of migrant labor and created a
worker shortage.


PROPERTY

 * Property market


EARLY RATE HIKE TO TRIGGER HOUSE PRICE FALLS THIS YEAR

An early interest rate increase would accelerate the slowdown in the housing
market and trigger house price declines by the end of the year, experts say.

 * Accommodation


RICH LISTER MAGID CHECKS OUT OF BOUTIQUE HOTELS

Robert Magid has timed his exit from two hotels in Melbourne and Sydney as
expectations build for a rebound in the hospitality sector, with travel resuming
and the omicron wave passing.

 * Office


BIGGER TENANTS BOUNCING BACK, READY TO COMMIT SAYS CENTURIA OFFICE

Smaller, emerging businesses have been behind office leasing demand through
COVID-19, but now the bigger operators are set to play a more decisive role.

 * Property development


RESURGENT APARTMENT DEMAND ADDS TO CONSTRUCTION COST PRESSURES

With the pipeline soaring, the difficulty for many businesses comes from knowing
how long the omicron strain of COVID-19 will worsen already tight pricing of
materials and labour.

 * Opinion
 * Office


IF FLEXIBLE WORK IS THE FUTURE, WHY IS OFFICE SPACE STILL IN DEMAND?

Even as the workforce shifts towards flexibility, business and government is
holding on to space – and leasing more.


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WEALTH

 * Property investment


TRAPS OF SELLING IN A HOT MARKET AND BUYING THE DIP

The key risks are selling quality properties in areas still on the up and total
transaction costs of roughly 8 per cent.

 * Super wars


‘INEQUITABLE’ AND ‘UNSUSTAINABLE’: CALL TO CAP SUPER BALANCES AT $5M

A person with a superannuation balance of $5 million can achieve annual tax
concessions of around $70,000.

 * Capital raising


HOW TO BECOME AN ANGEL INVESTOR

The stakes are high but getting in on the ground floor can be the difference
between buying an Atlassian at current prices or backing a winner from the
start.


TECHNOLOGY

 * Disruption


META PLUNGES AS FACEBOOK USERS STALL, FORECAST FALLS SHORT

The dour outlook and stalled user momentum sent shares down as much as 24 per
cent in extended trading, a striking decline for a stock that has posted gains
in every year but one since its 2012 IPO.

 * Courts


ANDREW FORREST SUES FACEBOOK OVER SCAM ADS

Iron ore magnate Andrew Forrest is launching criminal proceedings against
Facebook alleging it breached anti-money laundering laws and its platform is
used to scam Australians.

 * Opinion
 * Chanticleer


ZUCKERBERG IS IN A RACE TO EVOLVE

The plunge of Meta Platforms (formerly Facebook) isn’t just about tech stocks
being on the nose. The great disrupter is facing disruption from TikTok. 


WORK & CAREERS

 * Energy transition


HOW THIS LITHIUM CEO JUGGLES A BIG FAMILY WITH A BIG JOB

Charged with merging lithium producers Orocobre and Galaxy Resources into a
unified company, Allkem’s Martin Perez De Solay has plenty of experience
managing a growing family.

 * International students


DATA SHOWS CRASH IN EXPORT INCOME FROM OVERSEAS STUDENTS

The once-vibrant overseas student sector is struggling, with income for 2021
down to just $22 billion compared with $40 billion in 2019.


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LIFE & LUXURY

 * Vale


GLENN WHEATLEY’S LAST BIG DEAL

In his final media interview, Glenn Wheatley was confident he had another hit on
his hands.

 * The Buzz


FINALLY, MELBOURNE GETS TO ENJOY ‘FUN HOME’

A musical based on Alison Bechdel’s comic novel about her unconventional
upbringing makes riveting theatre.

 * History


DISCOVERY OF CAPTAIN COOK’S ENDEAVOUR ‘PREMATURE’

The lead US investigator in the search for the ship has labelled an announcement
by the Australian National Maritime Museum a ‘breach of contract’.

 * Travel


READY TO RETURN TO PARIS? A BEVY OF GRAND NEW HOTELS AWAITS

Whether you are looking for a traditional French getaway, or something with a
touch of modern chic, this is what the city’s newest hotels have to offer.

 * Diet


THE PROS AND CONS OF WEIGHING YOURSELF DAILY

If checking your weight ruins your day, or if you have a history of disordered
eating, it’s probably best to avoid daily weigh-ins. But others will benefit.


MOST VIEWED

 1.  * Live
    
    
    ASX BOUNCES BACK; REA POSTS RECORD HIGH DIVIDEND


 2. WESTPAC LANGUISHES AT HALF THE VALUE OF CBA AFTER LOST DECADE


 3. CBA BACKS ‘LIVE NOW, BUY LATER’ START-UP THAT WILL DITCH HOME DEPOSITS


 4. WESTPAC CUTS HEAD OFFICE STAFF AND SHAKES UP TOP RANKS


 5. WAR FOR TALENT: ‘PEOPLE HAVE GONE FROM $150,000 TO $250,000 PER YEAR’


 6. DAME EDNA WAS WISE TO THE RISKS OF BORIS’ MAVERICK WAYS YEARS AGO


FROM THE GALLERY


DAVID ROWE CARTOONS FOR FEBRUARY 2022

Feb 3, 2022View more editorial cartoons


THE AUSTRALIAN FINANCIAL REVIEW MAGAZINE


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BOSS FINANCIAL REVIEW


HOW THIS LITHIUM MINER CEO JUGGLES A BIG FAMILY WITH A BIG JOB

 * Peter Ker


 * HOW THESE EXECUTIVES SLASHED MEETINGS


 * MAKING NEGRONIS, MOWING THE LAWN: SKILLS CEOS LEARNT IN LOCKDOWN


LIFE & LEISURE


THIS PORTABLE MONITOR IS THE ANSWER TO WORKING FROM HOME

 * John Davidson


 * FEATS OF CLAY: MAMMOTH EXHIBITION PUTS POTTERS ON A PEDESTAL


 * THIS 118-YEAR-OLD RACE CAR COULD BE YOURS FOR JUST $2.2M


RICH LIST


CETTIRE SHARES DIVE AS LUXURY ONLINE RETAILER SWINGS TO A LOSS

 * Carrie LaFrenz


 * YOUNG RICH LISTER DANY MILHAM SCORES $75M FOR MILKRUN FROM TIGER


 * BROKE RICH LISTER OWES $10M TO HK BILLIONAIRE ‘FRIEND’

The Australian Financial Review

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