- Updated
- Murdoch family case
Rupert Murdoch fails in bid to cement Lachlan’s control of News
The billionaire business mogul, 93, had asked a Nevada court to change a family trust to have his eldest son oversee the media empire after his death.
- Live
- Markets Live
ASX slips; Perpetual sinks on $500m tax shock
Miners and tech play tug-of-war with ASX. RBA decision day. Iron ore, oil, gold gain. Bitcoin stumbles. Nvidia drags Nasdaq lower. Follow updates here.
- Updated
- Crime
Ivy League graduate arrested over CEO’s New York murder
Luigi Mangione was taken into custody after he was spotted eating at a McDonald’s in Pennsylvania, police said. He had a gun and a silencer in his bag.
Woolworths faces criminal charges for misleading NZ shoppers
The Commerce Commission was not satisfied that “specials really are special”, leading to legal action against the supermarket and its rival Pak’nSave.
- Live
- Need to Know
‘Unifying flag’: senators back Dutton for no Indigenous flag display
Peter Dutton says he will never address the nation with the Australian and Indigenous flags; former Australia Post boss to lead Victorian taskforce. Follow live updates.
Five ASX micro-cap stocks fund managers are buying
A miner, a telco and two technology darlings are among the micro-caps stocks fundies have named for 2025.
No dinner with Putin, but Assad will not lack for luxury in Moscow
Nothing has been seen of the murderous Syrian tyrant since he fled from Damascus, but he joins a dubious list of unseated former pro-Kremlin dictators in Moscow.
- Drinks With Max Allen
- Wine & spirits
Max Allen’s guide to stocking a bar trolley
The best of travel, fashion, cars and more, straight to your inbox every Saturday.
Companies
Hit to Woolworths sales from strike grows to $140m, expected to rise
The supermarket giant agreed to a pay deal with the union on Saturday, ending industrial action. But it will take weeks to restock stores and warehouses.
Macquarie buys up $3.7b of US Gulf energy assets
Macquarie Asset Management is buying an initial $3.7 billion stake in US Gulf Coast pipeline and related assets owned by Dow.
Shayne Elliott’s rented Corolla wasn’t enough for ANZ in the end
The career banker took the top job in 2016, unwinding a failed regional expansion and wowing shareholders. Those shareholders are a bit less wowed now.
- Updated
- Executive shake-up
ANZ investors see new chief executive Nuno Matos as a clean slate
The bank appointed the former HSBC wealth boss to succeed Shayne Elliott over internal candidates. The Portuguese banker, 57, will take up the job next year.
‘Like a star football player’: meet ANZ’s next CEO
Born in Portugal with a career spanning Peru, Brazil, Mexico and Hong Kong, Nuno Matos’ route to Australia is an unlikely one.
Omnicom to buy Interpublic in $20.6b deal
The merger of the two companies will create the world’s largest advertising company, taking that title from London-based WPP.
Westview plans $750m steel mill for Brisbane as Gupta woes worsen
The privately owned supplier of reinforced steel rods is concerned about being too reliant on Chinese imports, and wants the new plant to be operating by 2027.
Companies in the News
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Markets
- Opinion
- Interest rates
There’s a compelling case for RBA reducing interest rates on Tuesday
The board has created expectations of no rate cut at the final meeting of 2024. That’s the mirror of its 2021 error when it implied there would be no rise, writes Ross Garnaut.
Chinese premier vows to do everything possible to expand demand
The Australian dollar surged as did the US-listed shares of BHP and Rio Tinto after China’s top leaders signalled bolder economic support next year.
What happened overnight? Wall Street's Australian blue chips get China boost
Australian shares are set to open higher. BHP, Rio surge in New York. Iron ore, oil, gold gain. Bitcoin stumbles. Nvidia drags Nasdaq lower.
This US bank makes a bold call on the $A
The Australian dollar dropped below US64¢ last week, yet the investment giant says it’s time to offload the strong US dollar instead.
GQG’s assets rebound from Adani fallout
The fund manager says its assets jumped $US2 billion last week to $US161.5 billion, despite concerns about its Adani investment. It did, however, terminate its share buyback.
Opinion
Labor’s foreign policy gestures alienate both Jewish and Muslim Australians
Strong statements on the Middle East will not mitigate the potential loss of support from the once rusted on communities that now have other voting options.
Pollster
The pluses and minuses of Elliott’s ANZ legacy
How the outgoing CEO’s tenure is regarded will hinge on the long-term outcomes of his two signature projects.
Editorial
Banks, insurers must do better on silent epidemic of financial abuse
There are the men who perpetrate financial abuse, but there are also the platforms which have for too long been unprepared to confront the damage they facilitate.
Labor Senator
The case against nuclear energy is convincing
Readers’ letters on the CSIRO’s latest assessment of nuclear power, antisemitism, big business and productivity, and safeguarding essential food supplies.
Contributor
Six observations about the cultural failings in ANZ’s markets unit
Disgruntled employees are being interviewed about a problematic workplace culture at the same time as the bank is telling them about their annual bonus.
Senior reporter
Australia must be vigilant about stirring up populism
The challenge of cutting the size of government is made harder by public sector elites receiving outsized remuneration.
Editorial
Reports
Wealth - the 2025 outlook
This special report talks to top fund managers for their stock market tips and the key risks to the economic outlook, and looks at options for fixed income.
Politics
Dutton blocked show of political unity on antisemitism, says Labor MP
Josh Burns says the Liberal leader stopped shadow minister James Paterson reading a statement on his behalf condemning the Melbourne synagogue attack.
- Opinion
- Interest rates
There’s a compelling case for RBA reducing interest rates on Tuesday
The board has created expectations of no rate cut at the final meeting of 2024. That’s the mirror of its 2021 error when it implied there would be no rise, writes Ross Garnaut.
These new missiles give the Navy its most lethal fleet yet
Warships are now capable of firing missiles with a range 20 times greater than before, after destroyers test fired a Tomahawk missile last week.
New police, ASIO squad to keep Jews safe
Amid a deepening political row, a special flying squad of officers will be created to tackle antisemitism as Friday’s synagogue fire is declared an act of terrorism.
- Analysis
- Antisemitism
Taskforce better late than never, but the damage has been done
It feels like the government has again underestimated the import of a serious event and is playing catch-up, which doesn’t help a prime minister fighting a perception of weakness.
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World
- Opinion
- Syrian conflict
Assad’s fall is an embarrassing blow to Putin
Lots could still go wrong in Syria, but the fall of a brutal regime aligned to other brutal regimes is a good thing.
Horrors of Assad’s ‘slaughterhouse’ prison emerge
Thousands of prisoners have been freed from notorious Saydnaya outside Damascus, but the fate of thousands more who disappeared inside the jail are unknown.
Rebels vow reforms in race to stabilise Syria
The government is trying to get the state functioning again, while Russia frets over its bases, and Israel and Turkey look to increase their leverage.
Stubborn Assad’s fall was unexpected. But the signs were always there
Bashar al-Assad missed numerous opportunities to recast himself both at home and abroad.
The urbane, well-educated jihadist who overthrew Syria’s regime
Abu Mohammad al-Jolani is the son of an economist who came back from fighting Western forces in Iraq with bags of cash and a mission to bring down the president.
Property
Older, ‘cheaper’ houses hide costs that bite owners
More than 80 per cent of Australia’s houses have half the energy efficiency of the latest standards – and that’s going to make them less valuable.
- Exclusive
- Shopping centres
Dexus appeals forced sale of $830m Macquarie Centre stake
Dexus is disputing a court decision that requires one of its managed funds to sell a half stake in the Sydney shopping mall to its co-investors.
‘Shoebox’ apartment sells for $850,000 in less than a day
With supply crunched, this 41-square-metre unit sold at a rate similar to those on nearby Millionaires’ Row.
The best beachside suburbs to grab a bargain before the year ends
As buyer demand dries out, sellers in these sought-after coastal suburbs are becoming more motivated to sell.
- Exclusive
- Commercial real estate
Why Victoria will struggle to sell Mount Baw Baw alpine resort
More than one-third of the resort’s commercial sites are vacant and it doesn’t have enough power to use them all, business owners say.
Wealth
- Opinion
- Holiday homes
Why now is the time to bag a holiday home bargain
New types of buyers will stoke demand for properties in holiday hotspots but until then, prices will probably remain subdued.
- Opinion
- Investing
Why retirees should be wary about investing in private markets
Private market assets are being positioned as mainstream investments suitable for just about anybody, and that should ring alarm bells.
So, you want to retire to Tuscany?
The idea of moving to Italy is alluring for retirees – la dolce vita, the food, the wine, the beauty, the prices. Just check these practicalities first.
Technology
- Gadgets With John Davidson
- Opinion
A scooter is all fun and games until someone falls off a cliff
Segway’s new ZT3 Pro electric scooter handles almost all terrains very nicely. Just don’t ride it along on sandy tracks where dog walkers lurk.
TikTok owner ByteDance takes early lead in race to capitalise on AI
The company has purchased enough cutting-edge Nvidia graphics processing units to build advanced AI models, according to numerous sources.
‘No taxi driver likes Uber much’: Uneasy truce in cabs trial
Uber users in Sydney and Melbourne can now get regular taxis on the app. Cabbies see the benefit, but it is an uneasy truce between the transport arch enemies.
Work & Careers
How new Melbourne Symphony boss wants to move on from Gaza furore
Richard Wigley, who came to the MSO’s top job via Belfast, cited Barack Obama’s “don’t do stupid stuff” motto as a phrase for how he will rebuild the organisation.
Melbourne Uni’s $72m deal to settle backpay case sets precedent
The University of Melbourne has agreed to overhaul its compliance systems in an underpayment settlement that the regulator says sets the bar for large employers.
Life & Luxury
Christmas recipes from some of Melbourne’s best restaurants
Capture the festive spirit with a spectacular celebratory Christmas menu from Lucas Restaurants’ top chefs, who know what people want to eat.
- Exclusive
- Fashion retail
Fashion Week might be over, but Australian designers have a new show
Growing a brand internationally is expensive and time-consuming, but Jenny Nakkan has a solution for that.
- Opinion
- Trends
Fashion should focus on its best customers – and they’re not 20-year-olds
Aussies over 40 are spending more on discretionary goods, so why aren’t more smart designers and retailers looking to leverage their older clientele?
A $4000 apres-ski sweater for him and a $1100 pantsuit for her
Prepare for the big events coming up, from tableware to tasteful treats.
How Sydney’s landmark Wentworth hotel rates after a $70m refurb
Adding four top-quality bars and restaurants to the mix will ensure the mid-century venue has a steady flow of patrons – guests and locals.
