Print articleSep 23, 2020 – 8.38amLog in or  to save articleNew York | Carvana has yet to post a quarterly profit since going public in 2017, but it's made Ernest Garcia II and his son Ernest Garcia III two of the richest people in America.The elder Garcia is the largest shareholder of Phoenix-based Carvana, the online retailer that sells cars out of massive vending machines. His son, Garcia III, is the company's chief executive officer. Together they're worth $US21.4 billion ($30 billion), according to the Bloomberg Billionaires Index.Shares of the company surged 31 per cent...…Print articleSep 23, 2020 – 8.38amLog in or  to save articleNew York | Carvana has yet to post a quarterly profit since going public in 2017, but it's made Ernest Garcia II and his son Ernest Garcia III two of the richest people in America.The elder Garcia is the largest shareholder of Phoenix-based Carvana, the online retailer that sells cars out of massive vending machines. His son, Garcia III, is the company's chief executive officer. Together they're worth $US21.4 billion ($30 billion), according to the Bloomberg Billionaires Index.Shares of the company surged 31 per cent...WW…

Print articleJun 24, 2020 – 3.15pmLog in or  to save articleWhen the Labour Party under Jeremy Corbyn swiftly revealed itself to be the most anti-Semitic major political party in Britain in decades – one vile outpouring and grotesque comment after the next – I marvelled at people’s endless surprise.They had been fooled by the hard Left’s self-identification as “anti-racist”.How, they kept wondering, could the anti-racist party have so many anti-Semites in its midst?Easily. Anti-racism movements often foster anti-Semitism.This is because the most committed anti-racists see...…Print articleJun 24, 2020 – 3.15pmLog in or  to save articleWhen the Labour Party under Jeremy Corbyn swiftly revealed itself to be the most anti-Semitic major political party in Britain in decades – one vile outpouring and grotesque comment after the next – I marvelled at people’s endless surprise.They had been fooled by the hard Left’s self-identification as “anti-racist”.How, they kept wondering, could the anti-racist party have so many anti-Semites in its midst?Easily. Anti-racism movements often foster anti-Semitism.This is because the most committed anti-racists see...WW…

Print articleJul 8, 2020 – 2.52pmLog in or  to save articleRome | International investors bought bonds backed by the crime proceeds of Italy’s most powerful mafia, according to financial and legal documents seen by the Financial Times.In one case, the bonds – backed in part by front companies charged with working for the mafia group – were purchased by one of Europe’s largest private banks, Banca Generali, in a transaction where consulting services were provided by accountancy group EY.About €1 billion ($1.6 billion) of these private bonds were sold to international investors...…Print articleJul 8, 2020 – 2.52pmLog in or  to save articleRome | International investors bought bonds backed by the crime proceeds of Italy’s most powerful mafia, according to financial and legal documents seen by the Financial Times.In one case, the bonds – backed in part by front companies charged with working for the mafia group – were purchased by one of Europe’s largest private banks, Banca Generali, in a transaction where consulting services were provided by accountancy group EY.About €1 billion ($1.6 billion) of these private bonds were sold to international investors...WW…

Print articleJul 2, 2020 – 10.25amLog in or  to save articleThis week, a turbulent to an end.And for asset managers it marks the time when they calculate just how much clients will pay them in performance fees for the wealth they created, or did not destroy, relative to benchmark.This has been a particularly crazy year as the pandemic-induced market volatility proved too hot to handle for some.And the suits of the investment management industry have been under siege from a that .That has triggered a fierce debate about who actually is the so-called smart money.Such is the...…Print articleJul 2, 2020 – 10.25amLog in or  to save articleThis week, a turbulent to an end.And for asset managers it marks the time when they calculate just how much clients will pay them in performance fees for the wealth they created, or did not destroy, relative to benchmark.This has been a particularly crazy year as the pandemic-induced market volatility proved too hot to handle for some.And the suits of the investment management industry have been under siege from a that .That has triggered a fierce debate about who actually is the so-called smart money.Such is the...WW…

Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statementThe Financial Review daily paper covers all things business and markets, as well as national and world news. It also includes our popular columns Street Talk, Chanticleer and Rear Window. Readers can enjoy our magazine lift-outs with the Friday paper.AFR Weekend delivers insightful commentary, news and analysis of the week’s events. It also ventures further to reflect the wider interests and passions of our readers and includes Perspective, Smart Investor and Weekend Fin.Our glossy magazines...…Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statementThe Financial Review daily paper covers all things business and markets, as well as national and world news. It also includes our popular columns Street Talk, Chanticleer and Rear Window. Readers can enjoy our magazine lift-outs with the Friday paper.AFR Weekend delivers insightful commentary, news and analysis of the week’s events. It also ventures further to reflect the wider interests and passions of our readers and includes Perspective, Smart Investor and Weekend Fin.Our glossy magazines...WW…

Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statementNSW and Queensland officials are worried that CT Group can’t help the party woo younger voters, women and some ethnic groups.He’s the congenial politico who has spent his career building consensus behind closed doors. And now he’ll represent big business to government. Is he ready?An otherwise highly capable premier, who led both NSW and Australia out of pandemic lockdowns, has fallen to an all-too-human lapse of judgment.The NSW corruption watchdog will be forced to stick to “time standards”...…Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statementNSW and Queensland officials are worried that CT Group can’t help the party woo younger voters, women and some ethnic groups.He’s the congenial politico who has spent his career building consensus behind closed doors. And now he’ll represent big business to government. Is he ready?An otherwise highly capable premier, who led both NSW and Australia out of pandemic lockdowns, has fallen to an all-too-human lapse of judgment.The NSW corruption watchdog will be forced to stick to “time standards”...WW…

Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statementOct 2, 2023 – 3.01pm or Subscribe to save articleAfter a tough end to a difficult September quarter, history says investors around the world will be hoping to charge into the final three months of the year with a bit of a spring in their step.Nigel Tupper, quant strategist at Bank of America in Sydney, has analysed global sharemarket returns stretching back to 1988 to confirm that August and September have indeed been the weakest two months for the MSCI World Index.But the good...…Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statementOct 2, 2023 – 3.01pm or Subscribe to save articleAfter a tough end to a difficult September quarter, history says investors around the world will be hoping to charge into the final three months of the year with a bit of a spring in their step.Nigel Tupper, quant strategist at Bank of America in Sydney, has analysed global sharemarket returns stretching back to 1988 to confirm that August and September have indeed been the weakest two months for the MSCI World Index.But the good...WW…

Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statement or Subscribe to save articleAdvertisementGo to latest–Joshua PeachThe Australian sharemarket is extending to fresh six-month lows this afternoon, tracking losses on Wall Street after stronger-than-expected jobs data heaped more interest rate worries on equity markets.At midday, the S&P/ASX 200 is 42.6 points or 0.6 per cent, lower after tumbling below 7000 on Tuesday for the first time since March. The benchmark is now hovering around 6900.10 of the 11 sectors are lower, with...…Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statement or Subscribe to save articleAdvertisementGo to latest–Joshua PeachThe Australian sharemarket is extending to fresh six-month lows this afternoon, tracking losses on Wall Street after stronger-than-expected jobs data heaped more interest rate worries on equity markets.At midday, the S&P/ASX 200 is 42.6 points or 0.6 per cent, lower after tumbling below 7000 on Tuesday for the first time since March. The benchmark is now hovering around 6900.10 of the 11 sectors are lower, with...WW…

Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statementOct 3, 2023 – 11.14am or Subscribe to save articleThe 1.3 per cent drop on the ASX 200 on Tuesday after another torrid night for bonds could be a sign that bad news on global markets is finally catching up with Australian equities.The yield on US 10-year Treasuries hit 4.7 per cent on Monday night on Wall Street, the highest since 2007, while the yield on 30-year US Treasuries topped 4.81 per cent, the highest level since 2010, and 5-year Treasuries similarly rose about 10 basis...…Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statementOct 3, 2023 – 11.14am or Subscribe to save articleThe 1.3 per cent drop on the ASX 200 on Tuesday after another torrid night for bonds could be a sign that bad news on global markets is finally catching up with Australian equities.The yield on US 10-year Treasuries hit 4.7 per cent on Monday night on Wall Street, the highest since 2007, while the yield on 30-year US Treasuries topped 4.81 per cent, the highest level since 2010, and 5-year Treasuries similarly rose about 10 basis...WW…

Print articleJul 3, 2020 – 3.42pmLog in or  to save articleOn the day Scott Morrison outlined plans to build up , Chinese President Xi Jinping further cemented his grip on China's military apparatus, bringing the reserve forces directly under the control of the Communist Party's all-powerful Central Committee and Central Military Commission.Previously, command of the reservists was shared with local party committees. Now they are under the "absolute leadership" of the ruling party.Publicly, Defence Minister Linda Reynolds maintains Defence's strategic update and force...…Print articleJul 3, 2020 – 3.42pmLog in or  to save articleOn the day Scott Morrison outlined plans to build up , Chinese President Xi Jinping further cemented his grip on China's military apparatus, bringing the reserve forces directly under the control of the Communist Party's all-powerful Central Committee and Central Military Commission.Previously, command of the reservists was shared with local party committees. Now they are under the "absolute leadership" of the ruling party.Publicly, Defence Minister Linda Reynolds maintains Defence's strategic update and force...WW…