The Fin

Washington correspondent Jessica Gardner and foreign affairs reporter Nicci Smith break down the elections in America and Israel and what the fallout means for markets, energy prices and democracy.

This podcast is sponsored by Ripple

Further reading:

Everything you should know about Trump’s midterm elections Americans go to the polls to decide the new make-up of the House of Representatives and part of the Senate. The vote serves as a check on Donald Trump’s power.

Voters are about to whack Trump. Markets could tumble a Democratic sweep would be a big risk-off moment. Stocks could tumble by as much as 10 per cent – the accepted definition of a correction.

The stakes could hardly be higher’: The election for Israel’s soul October 7 has become a lightning rod issue for Israelis in an election that is a referendum on the polarising leadership of Netanyahu and on the nation’s soul.

Israel can’t postpone its reckoning forever Intractable divides between the secular and religious sections of the population pose a bigger problem for the country than any external threat.

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This week, workplace correspondent David Marin-Guzman and legal reporter Janek Drevikovsky on how litigants are using AI to level the playing field, what it means for judges, and the business of law.

This podcast is sponsored by Ripple

Further reading:

AI wins landmark Fair Work Commission case for Macquarie academic When Macquarie University computing academic Greg Baker decided to represent himself in a legal dispute with his employer in October, his knowledge of workplace laws was close to zero, he concedes.

A tiny AI law firm beat the taxman – and may have shrunk your tax bill For a two-person law firm, going head-to-head with the taxman is a Herculean task. Four or five senior barristers said it was impossible. Michael Drummond simply consulted Rachel, his tiny firm’s homemade artificial intelligence bot.

Lawyers go to war with clients who force-feed them AI slop In her 30 years as a tax lawyer, Tania Waterhouse has never seen anything like it. The case was a straightforward ATO matter. The client – an ordinary taxpayer. Waterhouse did the work and, as a standard courtesy, sent the client a draft of her advice.

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Today, senior reporter Jonathan Shapiro and tech editor Paul Smith take us inside the spectacular undoing of Firmus: what went wrong, how it unravelled in a week, and what this sudden collapse reveals about the AI boom.

This podcast is sponsored by Ripple

Further reading:
How Firmus’ $44b IPO failure unfolded
Firmus was on a runaway train to become one of the country’s most valuable listed companies. This is the day-by-day account of how that hope evaporated.
The pain that killed Firmus’ float is spreading. Here’s a new victim
AirTrunk’s decision to delay its Singaporean property IPO is another sign that the rising cost of capital is starting to foster doubts in the global artificial intelligence trade.
AirTrunk postpones $4.4b Singapore listing as interest rates soar
AirTrunk, has delayed plans to list a real estate investment trust in Singapore due to global market volatility, including rising interest rates.

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This week, senior reporter Greg Bearup and pollster Kos Somaras on how vital migrants have become in the regions, why those towns are voting for One Nation and how new data shows that the shift doesn’t have much to do with immigration.

With additional audio: Nic Walker

This podcast is sponsored by Ripple

Further reading

‘We’ll cut your rent by up to 4k’: Hanson ups the ante on immigration One Nation leader Pauline Hanson has lifted the stakes in the immigration policy wars by releasing modelling showing her policy would save renters between $2000 and $4300 a year.

Taylor’s middle ground on migration might be the safest course The Coalition has tried to reconcile two competing interests: how to slash the number of arrivals without hurting the economy.

Voters turn on Albanese and Chalmers as economic concerns bite The latest The Australian Financial Review/RedBridge Group/Accent Research poll also shows economic management is starting to resonate with voters, jumping 7 percentage points in a month as an issue of concern to sit just outside the top five.

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This week, senior reporter Myriam Robin on the story of a mega landlord and what it tells us about the vibe in the housing market – between renters and Australia’s two million landlords.

This podcast is sponsored by Ripple

Further reading:
This 34-year-old owns over 200 properties. Now his tenants are unionising
Australia was built on the dream of owning property. But as that compact unravels, Eddie Dilleen’s clash with a militant renters union exposes a growing fault line.
Why 6.5pc is the benchmark for new residential property investors
The changes to negative gearing and capital gains tax have made rental returns more important than ever. Here are 37 suburbs that are throwing up opportunities.
Investors are still buying, as this $950,000 inner-Sydney sale shows
We speak to the team behind last week’s most intriguing property sale.

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This week, deputy economics editor Michael Read and wealth reporter Andrew Hobbs on the latest round of the super wars, whether you should be able to access your superannuation early and what is the magic number for a comfortable retirement.

This podcast is sponsored by Ripple

Further reading:
Hanson poses the super question Australia stopped asking
How much super is too much and, in the trade-off between living standards today and in retirement, do we really need to put 12 per cent away?
Support grows to tap superannuation for wages, housing
About 62 per cent of voters support using super to boost take-home pay, as some in the Coalition consider a policy allowing people to pay their mortgage out of super.
Gazumped again? Hanson announces previous Coalition super policy
One Nation’s plan to let workers access 3 percentage points of their super is the same policy the Coalition planned to announce under Sussan Ley.

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This week, markets reporter Alex Gluyas on what the AI threat debate means for tech stocks, why Cathie Wood is predicting a golden era and whether the bond market might spoil the party.

This podcast is sponsored by Ripple

Further reading:
Cathie Wood declares ‘golden age’ for equities after bumpy ride
The high-profile investor is betting equity markets are at the start of a decade-long bull market driven by artificial intelligence. And she’s an Elon Musk fan.
Investors see their own threats in push to slow AI development
One fund manager said tighter restrictions would be a commercial advantage to Anthropic and OpenAI, and hurt newer start-ups and microchip manufacturers.
The market’s biggest fear is no longer the AI bubble. It’s this
Investors are worried about a disorderly meltdown in bonds. Australia – now almost halfway to a correction – provides a window into how it could unfold.

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Senior reporter Jonathan Shapiro and associate editor Primrose Riordan on how Bathla built its property empire, why it all fell apart and why its effects will be felt well beyond western Sydney.

This podcast is sponsored by Elston.

Further reading:
Living in ‘half a house’: How Bathla turned cheap housing into a nightmare
The downfall of the developer has left families stranded in half-built homes and sent shockwaves through the private credit market.
This developer could be private credit's ticking time bomb
Bathla Group, a property developer has almost $3.2 billion in debt, it will be private credit investors who could lose out.
Bathla’s collapse has property insiders panicking like it’s 2007
Australia’s ever-rising property market has masked all manner of sins, particularly in private credit, which has been shown up for its lack of discipline.

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This week, editor-in-chief James Chessell and Victorian political correspondent Sumeyya Ilanbey on the project that has come to sum up Victoria’s problems, whether it is too big to cancel and how it will play into November’s state election.

This podcast is sponsored by Elston.

Further reading:
The secret tax that says everything about Victorian Labor
The revelation that Labor secretly introduced a tax on public transport users is the latest chapter in a saga in which political momentum has trumped fiscal responsibility. (edited)
Vic Labor’s secret tax exposes fiscal transparency void
The opposition and leading economists say a charter of budget honesty is needed after the Victorian government introduced a new tax without telling the public. (edited)
Carroll’s budget scalpel misses the $34b elephant in the room
Premier Ben Carroll is looking to scrape off as many costly, wasteful barnacles he can find before the November 28 state election

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Associate editor Primrose Riordan and courts correspondent Max Mason on why Jon Adgemis is struggling to keep the details of his $1.8 billion financial collapse secret and what his story tells us about the private credit market.

This podcast is sponsored by Westpac.

Further reading:
Jon Adgemis thought he was winning. Then his CFO took the stand
The failed pub baron has been trying to keep the details of his $1.8 billion financial collapse secret. But a chatty former accountant is making that difficult.
Adgemis’ right-hand man alleges tax con funded ‘exorbitant lifestyle’
The business affairs of the former KPMG deal maker-turned-bankrupt are being scrutinised, with allegations of “sham arrangements” to pay for his spending.
From playboy pub baron to bankruptcy: Inside Jon Adgemis’ $1.8b fall
From KPMG consultant to “glamour banker” with the “Midas touch” to junk-debt-laden bankrupt. It’s been a wild ride for Jon Adgemis and Public Hospitality Group.

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Political editor Phillip Coorey on the government’s bet on gambling reform, the problem with "brand Albo" and why there’s nothing funny about the melon incident.

This podcast is sponsored by Westpac.

Further reading:
PM bets on stability pitch as popularity falters
Anthony Albanese celebrated a significant milestone on Friday, but voters have learnt stability and steadiness don’t preclude poor taste.

Migration or superannuation, the spectre of Hanson hangs heavy
Pauline Hanson keeps setting the agenda, whether she means to or not. The government and Coalition are scrambling to follow.

‘Policy capture’: The week that exposed Labor’s gambling ties
An explosive week of public hearings exposed the harms of the gambling industry. So why isn’t the government following its own advice on advertising bans?

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Deputy economics editor Michael Read on what’s going on in the housing market, whether it’s the correction we had to have and why the government doesn't want to call it that.

This podcast is sponsored by Westpac

Further reading:
RBA warns house prices have further to fall
Despite the softness in the housing market, RBA governor Michele Bullock said another interest rate rise remains squarely on the table.
Labor MPs are lost in housing’s hall of mirrors
Prices are falling, but the government is reluctant to claim the credit. So its MPs have resorted to rhetoric about renewed optimism for first home buyers.
Property price slide exposes political peril for Albanese government
As the sharpest housing market correction in almost four years gathers pace, the Albanese government is discovering that voters do not necessarily welcome falling values.

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Angela Macdonald-Smith and Ryan Cropp on the reasons we all stopped freaking out about the oil price and why that was premature.

This podcast is sponsored by Westpac

Further reading:
Labor’s plans to source more fuel leaves shipments stranded at sea
The government has been accused of picking winners for its subsidised import plan, which has created a glut and forced vessels to wait offshore for months.
Ampol rakes it in on refining, trebling first-half profits
Bumper first-half gross profits have been driven by soaring returns on turning crude oil into petrol and diesel during the conflict in the Middle East.
Oil refiners chase sweeter support deal despite surging profits
Ampol and Viva Energy are pushing for a major overhaul of subsidies to keep their refineries running for longer, even as their own earnings are soaring.

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Legal affairs reporter Janek Drevikovsky on why Twiggy is taking on Meta, whether he can win and what happens if he does.

This podcast is sponsored by Westpac

Further reading:
Meta admits it wiped key evidence in Forrest stoush
The social media giant has accepted it should be punished for not preserving copies of Facebook scam ads featuring the mining billionaire’s likeness.
‘Dad, it’s a fraud’: Call that sparked Forrest’s $60m war on Facebook
Why is Andrew Forrest fighting one of the world’s biggest tech companies in one of California’s most storied courts – and spending his own money to do it?
Forrest pressures local ad body to penalise Meta over scam revenue
Andrew Forrest has written to IAB Australia asking for the group to consider Meta’s membership, after news the company made more than $20 billion from scams.

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James Thomson and Ronald Mizen on why CEOs are losing patience with the AI giants, what’s driving the government’s policy shift, and whether Anthony Albanese is overplaying his hand.

This podcast is sponsored by Workday

Further reading:
Could China’s AI bombshell spark a ‘Lehman Bros moment’ for markets?
A new model that threatens OpenAI and Anthropic could have huge ramifications for global indices, which have soared on the artificial-intelligence trade.
The AI pivot: inside Albanese’s plan to bring big tech to heel
Riding high on global momentum from the under-16 social media ban, the prime minister is stepping up for a high-stakes public brawl with AI tech giants.
National security concerns drove Labor’s pivot on AI
As the technology increasingly encroaches on defence capabilities, cyber experts and the opposition warn that Australia must redouble its efforts to master it.

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How I Made It is back with host Lauren Sams.

Don’t miss season six as we uncover how Australia’s top entrepreneurs built their fortunes and what they learnt along the way.

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Professional services editor Edmund Tadros on the fallout from the KPMG scandal and what the government might do to bring the big four accounting firms into line.

Further reading:
KPMG’s ‘10-hour masterclass in how not to respond to a crisis’
By repeating PwC’s crisis-management mistakes, KPMG has forced a reluctant federal government to finally pull the trigger on unprecedented structural reforms.
No timeline for big four reform despite PwC, KPMG scandals
Assistant Treasurer Daniel Mulino says reform is “real priority for the government”, but concedes there is “no particular timeline” for new rules.
Inside Project Magenta: How Allens gave KPMG a pass on leaks
The law firm cleared the company of partner misconduct without interviewing a single outsider and using a literal reading of the allegations.

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Wealth reporter Andrew Hobbs and property reporter Lucy Slade unpack our national obsession, explain why property has been such a powerhouse, and ask a previously unthinkable question: Is investing in property even worth it anymore?

This podcast is sponsored by Workday

FURTHER READING:
Should you buy an investment property after the budget changes?
New restrictions on negative gearing and capital gains tax alter the appeal of residential property.

Economists say property prices might fall 10pc. So what?
With property prices up 400 per cent since 2000, what does a 10 per cent drop actually mean? And what happened the last time governments made major changes to property taxes?

Sydney renters drowning amid record rent rises
Rental prices are at record highs nationallypushing Sydney’s median to $841 a week, due to the vast shortage of homes available

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Political editor Phillip Coorey on the government’s budget backdowns, the increasingly crowded field in Australian politics and why it will be a bumpy two years to the next election.

This podcast is sponsored by Workday

Further reading:

PM wins round one of the budget battle, at a cost
Proper process, good policy and taxpayers’ money were among the casualties of this week’s rush to legislate the budget.
Finally, the teals discover that the Senate is where it’s at
By forming a new party – Community Strong Australia – lower house independents are finally realising that true policy influence lies in the upper house.
While Hanson stumbles, Taylor’s Coalition is quietly sinking
One polling setback does not a crisis make for One Nation, but it is a reminder that major parties are subject to more questioning and scrutiny.

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Chanticleer columnist Anthony Macdonald and technology editor Paul Smith on the investment case for SpaceX, whether there’s enough money for the other AI mega floats and why Australian investors are all in.

This podcast is sponsored by Aussie Broadband.

Further reading:

SpaceX is the first of three sci-fi IPOs with truly insane maths
Elon Musk has shot for the stars with the first of three huge AI-based floats that ask investors to believe the companies can boldly go where no one has gone before.
Fears of ‘AI Strait of Hormuz’ as Trump’s Anthropic ban shocks business
Labor’s Ed Husic and some of Australia’s top tech leaders warn Donald Trump’s export ban on the latest Anthropic AI models exposes a national over-reliance.
How SpaceX turned the IPO curse into a goldmine
The real genius of the company’s historic $2 trillion public listing isn’t the valuation – it’s how it hacked the market’s ultimate gatekeepers: passive funds.

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