The Fin

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 unionisingAustralia 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 showsWe 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 askingHow 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, housingAbout 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 policyOne 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 rideThe 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 developmentOne 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 thisInvestors 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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