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Fed boss Jerome Powell continued to argue that policymakers must guard against the prospect that President Donald Trump’s tariffs lead to persistent inflation.

Powell says shifting risks may warrant adjusting rates

The Federal Reserve chairman opened the door to a potential rate cut next month, sparking a renewed rally in both stocks and bonds.

Wall Street was having its best day since April to end the week.

S&P 500 rallies near record high, US bond yields drop

All three US benchmarks were higher, bolstered by renewed confidence among traders that the Fed will resume cutting interest rates next month.

MPs are meant to fly in the cheap seats. Here are 6 reasons they don’t

Why does Qantas capture 80 per cent of the travel spend of politicians and public servants, when government policies mandate booking the cheapest tickets?

Retailers deploy VR, body cams against Victorian crime wave

Accent Group chief executive Daniel Agostinelli says rising crime in the state could kill the suburban shopping mall.

FBI searches home of Trump adviser turned critic John Bolton

The decision to raid John Bolton’s home is a sign that the White House is stepping up a campaign of retribution against some of its fiercest critics.

Wrecked Rolls-Royce and a mysterious driver: court case has China agog

A car crash in Sydney’s Rose Bay has half the Chinese internet wondering who is Yang Lanlan, the mysterious 23-year-old woman driving a $1 million Rolls-Royce.

ASX investors can’t rely on stalled economy. Here are 12 stock ideas

As the sharemarket broke fresh ground this week, the government was trying to revive Australian productivity. Investors need to start making their own luck.

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EDITOR'S PICKS

AI doubters are having a moment. Even Sam Altman agrees

Critics are questioning if the artificial intelligence bubble is about to pop and why on earth we are allowing it to do what it’s doing to us.

A train passes through the half-built Woollahra train station.

Train station, new homes for Woollahra all but confirmed by NSW Labor

More housing for Sydney’s east would be controversial, but that’s precisely what Premier Chris Minns says is needed to tackle the crisis

Venus Behbahani, Alex Waislitz and Rebekah Behbahani.

Waislitz’s ‘sister-in-law’ Venus in new conflict over legal fees

The former Real Housewives of Melbourne star is being pursued for costs she disputes as ‘excessive’ and ‘unreasonable’.

This investor feud has everything from Survivor to small caps

In a widely circulated post, reality star Myles Kuah alleges fund manager Michael Frazis is hiding poor returns. Frazis says people are “obsessed with me”.

The seven weeks that scared the sombreros off Guzman y Gomez investors

The Mexican-themed fast food chain’s founder, Steven Marks, insists that big plans are on track, despite slower sales growth. Investors are a lot less convinced.

SMART INVESTOR

Katie and Beau Lynch are divorced but he lives in a granny flat on the same property because it works financially.

We’re divorced but my ex lives in the backyard. Here’s why

For many couples, the hardest part of separation is not the legal process, it is the cost of running two households.

The 7 money secrets your partner is most likely to keep

A survey suggests 27 per cent of Australians in a relationship have committed financial infidelity.

Division 296 will change the way earnings from super accounts with high balances are taxed.

Is it still worth contributing to superannuation once I hit $3m?

If you’re fortunate enough to be nudging $3 million, super is no longer the only game in town.

Why division 296 does not amount to a tax wipeout

It is rubbish to suggest that Labor’s new superannuation tax will erase as much as 92 per cent from the value of an investment.

Should you tell the kids what’s in your will?

Many parents worry that revealing too much about their estate might discourage their children from building their own financial futures.

The search is on for Australia’s fastest-growing companies.

Enter now

Companies

A Qantas aircraft at Sydney Airport. Corporate Travel is a major provider of travel booking services for businesses and governments.

Corporate Travel warns financial accounts need ‘material correction’

The business and government travel services specialist, which has just changed auditors, had been accused by hedge fund VGI of inflating its earnings in 2018.

Sharon McCrohan has taken the senior media role at the AFL.

Former Sayers adviser named AFL comms chief

Sharon McCrohan will start her role in October, replacing long-time executive Brian Walsh.

Fonterra will offload its Mainland Group division to French dairy giant Lactalis.

Mainland, Western Star butter sold to France’s Lactalis in $3.4b deal

New Zealand dairy co-operative Fonterra will spin off a portfolio of well-known Australian food brands to the multinational after a months-long auction.

GYG co-CEOs Hilton Brett and Steven Marks, who attributed the financial year numbers to food quality and customer experience.

Weak growth unsettles Guzman y Gomez investors despite $1b in sales

The Mexican-themed restaurant chain has seen shares soar as it touted enormous growth prospects. Some shareholders worry whether those targets are achievable.

Ultra Violette pulls cult sunscreen amid doubts over SPF claims

The fast-growing Australian beauty brand spent months arguing that testing showing the product was not effective was wrong, before reversing its position.

Zip targets Nasdaq listing to unlock US buy now, pay later growth

A presence on the technology-heavy Nasdaq would support a “significant growth opportunity” by broadening the investor base, the credit provider said.

Accent to open first Sports Direct store in November

The ASX-listed shoe retailer, which penned a deal to roll out the UK-based sporting chain giant, posted sales growth of just 1.5 per cent in FY25.

Markets

The time for another rate cut is approaching.

September rate cut expectations surge after Powell speech

The probability of a quarter point rate cut at the Federal Reserve’s mid-September meeting leapt back above 90 per cent.

Rajiv Jain of GQG Partners.

GQG’s Rajiv Jain says tech rally is ‘dotcom bubble on steroids’

The highly regarded stockpicker oversees almost $270 billion in investments, and says he doubts whether the billions being spent on AI will deliver returns.

Lithium insider trader pleads guilty, puts luxury home on market

Almost two years after ASIC pressed charges, Duncan Stewart has pleaded guilty to insider trading in Kidman Resources shares in 2019.

The eight ASX stocks that have caught short sellers out

A clutch of companies have defied bearish bets, potentially costing hedge funds more than $3 billion, thanks to strong performance and resilient spending.

ASX ends week up 0.3pc; traders dump Inghams, Guzman

Bourse posts weekly gain despite weaker session; Investors sell Inghams and Guzman after miss; Zip rockets on results beat as it mulls Nasdaq listing; Accent FY26 trading weaker than hoped. Follow live.

Opinion

Chalmers puts younger workers at heart of tax review

The treasurer hints that the government take is going to rise, but he doesn’t want working-age people to shoulder the burden.

John Kehoe

Economics editor

John Kehoe

Budget repair a goodwill gesture for higher taxes

The government has realised it would be unfair and unwise to hike taxes while doing nothing to rein in spending.

Phillip Coorey

Political editor

Phillip Coorey

Workers are sacked for homophobia at work. So should AFL players

The Rankine incident highlights the disparity between how such conduct is treated on the football field as opposed to within non-sporting organisations.

Paul O’Halloran

Workplace lawyer

Paul O’Halloran

Rio, BHP copper saga is a reality check for Trump’s mining dreams

The Resolution mine setback shows why the president is calling in the biggest companies in the world to help revive the industry in America.

Jessica Gardner

United States correspondent

Jessica Gardner

Where was government in Qantas scandal?

Readers’ letters on the Qantas fine, the reckoning for universities, diesel rebates, women running pubs, AI job losses and how to tax cars.

AFR Readers' View

Letters to the Editor

AFR Readers' View

Summit legacy can’t just be higher taxes

Three-and-a-half months into its second three-year term, the government can’t just sit on its hands when it comes to difficult reform.

The AFR View

Editorial

The AFR View

Reports

Higher Education Awards

The Financial Review Higher Education Awards recognise and celebrate excellence in the Australian higher education sector.

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Politics

Federal Opposition leader Sussan Ley speaks during the Liberal National Party Convention 2025, in Brisbane, Friday, August 22, 2025. (AAP Image/Fraser Barton) NO ARCHIVING, IMAGE TAKEN BY JOURNALIST AFR

Queensland Liberals vote to ditch net zero

Sussan Ley praised predecessor Peter Dutton’s legacy in an address to Queensland party faithful.

Anthony Albanese has stood by his decision to recognise a Palestinian state, in the face of criticism from Benjamin Netanyahu.

Netanyahu’s attack on ‘weak’ Albanese splits Australian Jews

Amid tensions between Canberra and Jerusalem, Foreign Minister Penny Wong has signed a statement criticising plans for a massive Jewish settlement.

Jason Clare says the “awful truth” of predators in childcare centres will never go away, but steps can be taken to minimise risks.

Clare seals $189m deal to curtail ‘awful truth’ in childcare centres

The nation’s education ministers have agreed to a package to keep kids safer in early childhood facilities, including a ban on the use of mobile phones.

Chalmers flags super tax raid to fix ‘unfair’ system

As the government’s economic roundtable ends, the treasurer has confirmed tax reform is on the agenda, motivated to deal with intergenerational inequity.

Retailers deploy VR, body cams against Victorian crime wave

Accent Group chief executive Daniel Agostinelli says rising crime in the state could kill the suburban shopping mall.

SPONSORED

World

Carney campaigned and won a national election by promising an aggressive approach that would inflict “maximum pain” on the US.

Canada to drop many counter-tariffs in olive branch to Trump

Prime Minister Mark Carney indicated the move is meant to prepare the ground for the review of the US-Canada-Mexico free trade agreement.

Volodymyr Zelensky, Donald Trump, and Emmanuel Macron during a family photo in the White House.

Trump ‘flying blind’ on Ukraine peace push after firing experts

Optimism over ending the Ukraine war is starting to fade after this week’s White House talks, and the US president has few professionals left to turn to.

French President Emmanuel Macron announces a multi-year overhaul to modernise the Louvre.

Burst pipes and long queues: Macron plans $1.4b Louvre makeover

Leonardo da Vinci’s Mona Lisa is to be housed in a new underground gallery and require separate tickets. Also, non-EU visitors will pay more.

UK takes over Sanjeev Gupta’s key steel business

The government’s move follows a High Court ruling that a major part of his UK steel operation was insolvent and should be placed in compulsory liquidation.

Powell urged to remove Cook as Justice Department threatens probe

The US Justice Department has signalled plans to investigate Federal Reserve governor Lisa Cook.

Property

Former premier wants $10m for home he bought for $900k

Former Victorian premier Ted Baillieu and his wife Robyn are selling their long-time Hawthorn base after 27 years at the property, as a new chapter calls.

From Noosa to Mosman, Aussie fashion queens list designer homes

Lifted straight out of a magazine, two homes designed by Australian fashion designers have hit the luxury market on the Sunshine Coast and Sydney’s lower north shore.

Blackbird co-founder splashes $19m on Vaucluse mansion

The co-founder of VC giant Blackbird, Niki Scevak, and his wife Sarah have upgraded to a Vaucluse mansion with harbour views.

Harvest Hospitality reaps reward with $50m in pub sales

The fund manager is an active trader in the sector, identifying pubs with potential, upgrading them, taking profit from its exits and seeding new funds.

This commercial property giant has a $4b housing plan

Charter Hall chief executive David Harrison says 2025 was an inflection year, and he’s tipping 10.6 per cent earnings growth.

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Wealth

Division 296 will change the way earnings from super accounts with high balances are taxed.

Is it still worth contributing to superannuation once I hit $3m?

If you’re fortunate enough to be nudging $3 million, super is no longer the only game in town.

We’re divorced but my ex lives in the backyard. Here’s why

For many couples, the hardest part of separation is not the legal process, it is the cost of running two households.

7 rules for a healthy retirement from the professors who study it

Ageing is a normal biological process that should not cause many problems until your 90s.

Technology

Commonwealth Bank chief executive Matt Comyn said the banks’ data showed younger generations had lifted their spending and saving.

Big Four banks’ AI use under microscope, warn union and APRA

Banks are raring to go on artificial intelligence but the Finance Sector Union and the prudential regulator warn they will be watching closely.

ACTU president Sally McManus and Tech Council chief Scott Farquhar at the economic rountable.

The five-minute sideline chat that produced a roundtable breakthrough

An informal conversation between billionaire Scott Farquhar and union boss Sally McManus defused a bomb of an issue: regulation of AI.

Google claims AI superiority over Apple’s iPhone with new device

Google has unveiled its new Pixel 10 handsets featuring an artificial intelligence “camera coach” to help users improve their photos as they’re being taken.

Work & Careers

The Excel Files: The secret lives of spreadsheet superfans

The unlikeliest hobby? People are using spreadsheets for fun, and winning world championships along the way. Here’s how I got into the quirky world of data.

‘We can’t force people to wisdom’: Why no one is studying arts

As universities become more like vocational colleges than places of higher learning, the humanities are in steep decline. They can and should be saved.

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Life & Luxury

Scientists in fields such as epigenetic reprogramming are working on a series of potentially world-changing breakthroughs in extending the human lifespan.

The 2 existing drugs that could become anti-ageing pills

The world’s wealthiest are betting billions on an almost unbelievable idea: that getting older can be slowed or reversed. Here is the science behind it.

A handful of other brands might come close with individual models, but it’s Rolex that collectors covet right across the range.

The watch brand rising in value faster than Sydney houses

While there’s no guarantee of making money in the world of watches, the numbers reveal Rolex is beating the fast-paced Australian property market.

Alec Luhn

Urine and grass: How this hiker survived falling off a Norwegian cliff

Alec Luhn broke his femur and fractured his pelvis and about half a dozen vertebrae after tumbling down a steep mountain. But that wasn’t the worst part.

Fran Austin and Shane Holloway of Delamere,

This boutique hotel in Tasmania is a wine enthusiast’s dream

Stillwater is marking 25 years of food, wine and life-affirming relationships with a series of intimate dinners.

“If I hadn’t been just a little bit lucky with my parents, lucky with my education, I might have been that”: Joanna Murray-Smith says Tom Ripley has a relatability that makes him indelible.

Narcissist, conman: Tom Ripley is more relevant than ever

Playwright Joanna Murray-Smith got inside Patricia Highsmith’s head and had a global hit. Now she’s back with an adaptation of the author’s most famous novel.

From the gallery