The most entrenched battle in Australian newspapers, The Australian versus The Australian Financial Review, is back on in earnest this morning with the launch of its new daily business section, rebranded as the Australian Business Review.

The budget is secret, but there is no doubt the ABR marks a considerable investment for The Australian, which recently celebrated its 50th anniversary but loses millions each year -- though editor-in-chief Chris Mitchell has said publicly the losses halved in 2013-14.