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Colonial First State chief investment officer Jonathan Armitage is positioning the retirement savings fund for a world where interest rates are higher for longer.

Colonial bulks up on private credit as Iran war promises higher rates

The increase in allocation to fixed income assets is just one way that major superannuation investors are reworking portfolios to protect against volatility.

Canva co-founders Cliff Obrecht, Melanie Perkins and Cameron Adams are managing a transition to the AI era.

Canva splashes $30m on Melbourne advertising start-up

As it pushes to become more of an artificial intelligence platform, the design software giant has made Melbourne-based Doohly its third purchase of 2026.

Rio Tinto gets $2b taxpayer handout to turn Queensland smelter green

The Commonwealth and Queensland governments have agreed to a 10-year deal with the company to run its massive Boyne aluminium plant on clean energy.

This law firm is paying staff $30 a week to forgo WFH

When Cullen Macleod in Perth discovered employees were facing up to four-hour public transport commutes, it took matters into its own hands.

Private credit crunch: Ares, Apollo cap fund withdrawals

The Ares Strategic Income Fund limited withdrawals to 5pc of shares after clients sought to redeem 11.6pc, according to a letter to shareholders.

AustralianSuper claims another listed M&A kill with Pepper Money

It was far more AustralianSuper’s lack of support for the ownership change than the deal structure or the volatile markets that killed the deal, sources said.

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MIDDLE EAST CONFLICT

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Here’s what Trump’s former Iran tsar makes of the current conflict

Brian Hook once managed relations with Iran. The Cerberus vice chairman is now hunting investment opportunities in an “era of great power competition”.

Ghalibaf addresses the media at the Iranian parliament last December.

Iran taps ‘corrupt commander’ Mohammad Ghalibaf to make deal

Mohammad Ghalibaf, an enforcer close to the new supreme leader, may be the only figure who could sell a climb down to Tehran’s hardliners.

Donald Trump has said he is negotiating with Iran, something Iran has denied.

Don’t be fooled, Trump is not done with the war yet

Nervous investors are desperately seeking signs that the US president is headed for an off-ramp, but the latest events are not evidence that a ceasefire is close.

Iranian sleeper cells ‘activated’ for London Jewish ambulance bombings

A terror group with links to Iran’s hardline revolutionary guards has claimed responsibility for an attack in the UK, following the conflict in the Middle East.

Netanyahu is gambling with Israel’s future

The single biggest guarantee of Israeli security has been strong bipartisan support in the US. But the government’s actions are draining that support away.

Oliver Curtis opens up about his business career after jail and why the doubters are wrong about his AI company Firmus.

Technology reporter Amelia McGuire and Chanticleer columnist Anthony Macdonald on whether Oliver Curtis’ AI start-up Firmus can live up to the hype.

Listen to The Fin podcast now

Companies

Colonial First State chief investment officer Jonathan Armitage is positioning the retirement savings fund for a world where interest rates are higher for longer.

Colonial bulks up on private credit as Iran war promises higher rates

The increase in allocation to fixed income assets is just one way that major superannuation investors are reworking portfolios to protect against volatility.

Farmer Craig Piggot’s agricultural start-up Halter is now valued at more than $US2 billion after a $351 million capital raising led by Peter Thiel’s venture capital fund

Kiwi AI farming start-up worth $2.9b as Peter Thiel invests

A New Zealand start-up looking to eradicate farm fencing is now valued at $US2 billion after the Silicon Valley giant’s VC arm led a $351 million funding round.

Doug Ostrover, the co-founder and co-chief executive of Blue Owl Capital, in Sydney on Tuesday.

Blue Owl co-founder says private credit has itself to blame for crisis

Doug Ostrover, now the $400 billion firm’s co-chief executive, says enormous demand for big returns is still driving investors towards the sector.

Software stocks have been pummeled this year as new releases of AI tools from startups, including Anthropic, have raised concerns about the outlook for growth of software incumbents.

Atlassian tumbles 8.4pc on report Amazon is developing new AI tools

US-listed software stocks sank on news that Amazon’s cloud-computing arm is developing an AI agent to automate some sales and business development functions.

First western Sydney flights confirmed

One carrier has locked in its schedule for Sydney’s new international hub, but others are yet to reveal if their planes will take off when it opens.

$52b needed to build Asia-Pacific digital hub: Deloitte

Money from private investors and government corporations will be needed to build more data centres, clean energy supplies, sub-sea cables and water utilities, the consultant says.

Telstra lifts most mobile plan prices by double digits in a year

Australia’s biggest telco will increase the prices for most of its mobile plans across all of its subsidiaries from May 5 – two months earlier than expected.

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Markets

Donald Trump has said he is negotiating with Iran, something Iran has denied.

‘Brace for swings on every tweet’: Investors bamboozled by peace talks

Stocks were supposed to soar on Tuesday. Instead, the ASX finished up just 0.2 per cent as jittery traders await Donald Trump’s next move.

Mining companies are heavily reliant on diesel to run their machinery.

Australia’s diesel crisis plunges ASX mining stocks into bear market

Fund managers have been dumping stocks amid worries that mines are about to run out of fuel, which would lead to higher costs and could even curtail production.

The world’s largest asset manager, BlackRock, has warned that investors are ignoring the economic wreckage caused by the current oil shock.

BlackRock cuts US stocks as energy ‘wreckage’ looms

The world’s largest fund manager is preparing for prolonged market disruption from the Middle East conflict and has warned investors against undue optimism.

Markets face ‘big 36 hours’ as Iran threats wipe billions from ASX

As the conflict in the Middle East drags on, big investors are growing increasingly uncertain, sending bond and equities markets yo-yoing.

Why last year’s safe haven assets are now getting smashed

Gold and silver went gangbusters in 2025 as Donald Trump’s tariff chaos drew safe haven demand. But war in the Middle East has investors running for the exit.

Opinion

This is an energy emergency: Entire countries may run out of oil

Some 10.5 million barrels a day of production has been closed because countries have run out of storage or face drone attacks on offshore rigs.

Global economy commentator

Ambrose Evans-Pritchard

We must avoid future fuel supply disruptions by planning now

The continuing economic impact of the energy crisis is unclear, but we should develop and implement a strategy to deal with the world as it is likely to be.

Energy expert

Tony Wood

EU deal shows rules-based order isn’t dead yet

The EU deal may not be what every sector wanted, but in a world that is more contested and uncertain, it provides a valuable insurance policy for Australia.

Editorial

The AFR View

Deal overshadowed by the chaos of war

The EU-Australia agreement allowed Anthony Albanese to argue that free trade is not dead in the Trump era. But the turmoil in the Middle East is overwhelming.

Spending cuts must go hand-in-hand with tax reform to fix budget

Tightening the purse strings is great, but it won’t solve our economic problems. The scale of the challenge means a review of the tax system is critical.

Member for Wentworth

Allegra Spender

Labor embraces ‘progressive patriotism’ as One Nation surges

Labor, both state and federal, is bringing a new brand of nationalism to the table to combat the rise of an aggressive, monocultural version being pushed by the hard right.

Former Labor adviser

Lidija Ivanovski
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Politics

The town where you can buy only enough fuel to get to the next stop

A service station owner in a remote Queensland town has started imposing limits on passing customers, who are already paying $3.25 a litre for diesel.

Fewer people are driving and more are taking the train as petrol price rises bite.

Petrol price spike side effect: trains are fuller, roads are not

In Sydney, road usage is down and train and Metro trips up as commuters seek a cheaper ride. State governments are so far resisting more drastic solutions.

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Chalmers warns CEOs against premature optimism on Middle East peace

The treasurer says the degree of damage Australia sustains depends on how long the war lasts and how quickly the global economy rebounds afterwards.

This law firm is paying staff $30 a week to forgo WFH

When Cullen Macleod in Perth discovered employees were facing up to four-hour public transport commutes, it took matters into its own hands.

Consumer confidence hits historic low ahead of May budget

The worst confidence result in more than 50 years has economists concerned about Treasurer Jim Chalmers’ ability to sell an ambitious tax plan in the budget.

World

A butcher in Bordeaux, France. Farmers are unhappy with improved market access for Australian beef exporters.

Minerals over meat: EU farmers rail against trade deal with Australia

Agriculture lobby groups are unhappy with new duty-free access for Australian beef, sheep and sugar, but luxury carmakers want speedy passage of the FTA.

Angela Bacares Lynch and Mike Lynch.

Mike Lynch estate ordered to pay HP $1.7b in fraud case

The British tech tycoon was killed with his daughter when his superyacht sank. Now his estate has been denied permission to appeal a billion-dollar fraud verdict.

President Donald Trump holds up replica of a Elvis Presley guitar he had just signed, in the Jungle Room at Graceland, Elvis Presley’s historic estate.

Trump visits Graceland, muses about beating Elvis in a fight

The US President took a surprise tour of the music legend’s former estate, one of the most visited tourist sites of its type in the US, during a trip to Memphis.

Traders made $832m in oil bets just before Trump’s post on Iran talks

Thousands of Brent and WTI contracts changed hands 15 minutes before the president’s message on Truth Social about productive talks.

Thousands have swooned over this MAGA dream girl. She’s made with AI

A slew of right-wing accounts, peddling patriotism mixed with soft-core pornography, use fake women and convincing imagery to grab viewers.

Property

The town where you can buy only enough fuel to get to the next stop

A service station owner in a remote Queensland town has started imposing limits on passing customers, who are already paying $3.25 a litre for diesel.

Getting higher: But Australia will still fall short of its 1.2-million home target by June 2029.

Victoria, WA, ACT lead national home-building race

Housing construction times have sped up, but Australia will still miss its five-year target, a new federal government report shows.

Looking to the exit: Tony Lombardo is stepping down from his role as CEO of Lendlease.

Relegation day: Lendlease dropped from ASX 100

The company that once dominated Australian construction and development has yet to recover from a decline that started more than two decades ago.

What this Sydney silk learnt behind the bar (of his own pub)

It was serendipity that a budding Sydney barrister purchased a venue called the Courthouse Hotel nearly 40 years ago. Now, Brian Dooley is calling time.

CGT changes would cut 12k new homes, lift rents: property industry

Industry groups say economic modelling shows proposed changes to the tax would undermine the government’s goal of 1.2 million new homes being built over five years.

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Wealth

Colleen O’Neill-Mullins at home with her carer, Christine.

‘Darling, I’m not going anywhere’: The rise of at-home care

From assistance with everyday tasks to $30,000-a-week clinical care, some Australians are spending whatever it takes to bypass government waitlists and age in place.

Quiet garage sale from Porteous-Hancock mansion includes iconic portrait

Lavish furniture, rugs and a giant portrait of Lang Hancock are among items quietly being offered for sale by Rose Porteous’ husband.

Gen Z puts trust in AI for financial advice. ASIC says don’t

Gen Z’s use of, and trust in, social media and AI to deliver financial advice has the corporate regulator worried.

Technology

Apple is testing a dedicated Siri app for the iPhone, iPad and Mac later this year.

Apple plans AI reboot with Siri App, new look in iOS 27

The new Siri is slated to be unveiled June 8 at the iPhone maker’s Worldwide Developers Conference as part of a broader artificial intelligence overhaul.

Sam Kroonenburg says AI is making it easier to build start-ups with fewer people, and is vibe coding Cuttable’s products.

He sold A Cloud Guru for $2b. Now his next start-up is worth $100m

Cuttable has an AI platform that makes digital ads in bulk. Founder Sam Kroonenburg says vibe coding means it is growing faster with fewer staff.

BlackRock CEO Larry Fink says there’s a kind of ‘civic miracle’ that comes from long-term investing.

Larry Fink has an answer to the risk of AI ripping society apart

The billionaire BlackRock boss says that with the old model of global capitalism breaking down, broadening long-term participation in markets can solve some big problems.

Work & Careers

The Wesfarmers CEO Rob Scott has temporarily suspended unnecessary air travel for corporate staff.

Banks rebuff work from home calls as Wesfarmers pauses business travel

Australia Post joins Qantas and Virgin in hiking prices, while the big four lenders are holding firm against union demands to allow staff to log in remotely.

Employers back 3.5pc increase in minimum wage amid inflation warning

The chamber of commerce and high-profile restaurateurs warn the ACTU’s 5 per cent claim could force the Reserve Bank to keep interest rates higher for longer.

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Life & Luxury

Makris chef Petros Dimas.

The chef behind Athens’ hottest Michelin-starred restaurant

Petros Dimas is playing it cool – despite helping to put the Greek city on the contemporary culinary map.

A smooth stay in overcrowded Europe requires a game plan.

Modern manners: 10 tips for travelling in overcrowded Europe

Travelling to the Continent this summer? Here are our golden rules of good behaviour.

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Estee Lauder in talks to combine with Jean Paul Gaultier owner Puig

The deal would create a fashion and beauty powerhouse. Between them, the two firms generated more than $28 billion in sales last year from a host of top brands.

Chalet in South Tyrol

The Australian designing one-of-a-kind homes in Italy

Carl Pickering and his husband Claudio Lazzarini are famous for creating spaces that are at one with their settings.

How to stop getting phone shamed by your kids

The tedium of parenthood is real, and so is the exhaustion of an adult who craves a moment to zone out. But it’s mortifying when your children point out your failings.

From the gallery