Business
Companies
WeWork tumbles after raising ‘substantial doubt’ about future
A few years ago, WeWork was one of America’s most valuable start-ups. Then came its IPO disaster, followed by the pandemic, which dealt another blow.
- by Ellen Huet
Latest
High-end art and car prices drop as the ultra-rich tighten belts
High-end art work and upmarket jewellery are the most sought after collectables for the ultra-rich investor, but with recession concerns and rising interest rates, even those with cash are scaling back on over spending.
- by Carolyn Cummins
Analysis
Commercial real estate
‘Recovery fragile’ but land sales show first green shoots
Land sales for new housing at greenfields estates across Melbourne and Geelong rose 13 per cent in the second quarter, ending a run of six straight quarterly declines. The median lot price also jumped 1.3 per cent to a record $385,000.
- by Stephen Miles
Shepparton Dan Murphy’s changes hands for $13 million
A Dan Murphy’s outlet supported by an Aldi supermarket and five speciality retailers in Shepparton has been sold for $13 million.
Amazon’s robot army is headed to Melbourne
The retail giant has revealed plans for Australia’s largest warehouse as it banks on the continued growth of online shopping despite the cost-of-living crunch.
- by Emma Koehn
Exclusive
Commercial real estate
Backpackers to flashpackers: The new global travellers
The return of backpackers and budget travellers has sparked a renewed demand for hostel-style accommodation, but ones that offer a higher standard of technology and amenities that will cater for a new wave of travellers.
- by Carolyn Cummins
Woodside wins Japanese support for Scarborough gas
The oil and gas major has found two investors for its $16.5 billion gas export project, with Japanese companies Sumitomo and Sojitz buying a 10 per cent stake.
- by Peter Milne
ABC defamation bill hits $1.9 million over four years
The national broadcaster has spent more than $700,000 in defamation settlements alone over the past three years, documents filed by the ABC have revealed.Â
- by Calum Jaspan
Lynas catches overseas buyer’s eye in critical minerals race
The rare-earth metals miner has been approached by North American and Asian companies looking to buy it as the push intensifies for critical minerals needed to power the world’s energy transition.
- by Simon Johanson
Opinion
Retail
Why taking the top job at Myer could be a career killer
Myer’s largest shareholder, Solomon Lew, is now the company’s kingmaker. And in this case, (John) King replacer.
- by Elizabeth Knight
Myer shares dive as customers shut their wallets
Australia’s biggest department store Myer says its sales growth has almost ground to a halt over the past six months as consumers feel the cost-of-living crunch.
- by Emma Koehn