Morning Headlines

NBN Co, Australia Post splurge almost $300m in bonuses

NBN Co and Australia Post have paid executives nearly $300 million in corporate bonuses during the COVID-19 pandemic, despite being put on notice by the Morrison government about lavish taxpayer-funded perks. The Fin

‘Much to be done’: Crown boss on reforms ahead

Crown chairman-elect and former Telstra boss Ziggy Switkowski has admitted he is concerned by ‘‘how much has to be done at the same time’’ for the scandal-ridden casino giant to reform to the extent required by regulators, warning doing so will be expensive. The Fin

Defence spend to reach $50b a year: Dutton

Defence Minister Peter Dutton says the landmark AUKUS agreement will push Australia’s defence spending to 2.5 per cent of GDP, helping combat China and countries with bad intentions in the Indo-Pacific region. The Fin

Future Fund on track to pass $200bn

Future Fund chairman Peter Costello says the dividend from economies reopening after Covid-19 lockdowns is beginning to “fade”, as the fund nudged up against the $200bn mark at the end of September. The Aus

NAIF reviews Thunderbird

The Northern Australian Infrastructure Facility is reviewing its $95 million loan for the Thunderbird minerals sands project in the Kimberley after scope and ownership structure changes. The West

Wine exporters hope for WTO ‘exit ramp’ from China tariffs

Australia will today force China into a formal World Trade Organisation dispute process over Beijing’s punitive wine tariffs, in a move the beleaguered wine industry hopes will offer ‘‘an exit ramp’’ from the stoush. The Fin

Bellevue aims for gold with ‘green premium’

Gold mining aspirant Bellevue has vowed to be carbon neutral by 2026 in the belief that some customers will be willing to pay a ‘‘green premium’’ for bullion and jewellery made with net zero emissions. The Fin

PM books net zero check-ups

The Productivity Commission will conduct five-year reviews assessing the economic impacts of a 2050 net-zero-emissions target on regional and rural communities under a climate change safeguard mechanism adopted by cabinet on Monday night. The Aus

Shadow attorney-general pays for Facebook attack on vaccine mandate

Shadow attorney-general Nick Goiran has questioned the lawfulness of the McGowan Government’s sweeping no jab, no job policy in a “sponsored” post on Facebook. The West

The Australian Financial Review

Page 1: Taxpayers will shoulder most of the financial risk in Telstra’s $US1.6 billion ($2.1 billion) purchase of Digicel Pacific, to ensure China does not take over the telecommunications network operating in six island countries neighbouring Australia.

Page 3: Crown chairman-elect and former Telstra boss Ziggy Switkowski has admitted he is concerned by ‘‘how much has to be done at the same time’’ for the scandal-ridden casino giant to reform to the extent required by regulators, warning doing so will be expensive.

Page 5: Defence Minister Peter Dutton says the landmark AUKUS agreement will push Australia’s defence spending to 2.5 per cent of GDP, helping combat China and countries with bad intentions in the Indo-Pacific region.

NBN Co and Australia Post have paid executives nearly $300 million in corporate bonuses during the COVID-19 pandemic, despite being put on notice by the Morrison government about lavish taxpayer-funded perks.

Page 8: The Future Fund abstained from voting to return Jane Halton as a director at Crown Resorts’ 2020 AGM and opposed key James Packer lieutenant Guy Jalland and then deputy chairman John Horvath.

Page 9: The Morrison government has announced new laws that would force social media companies such as Facebook to obtain parental consent before allowing children under the age of 16 onto their platforms, or face harsh punishment.

Page 12: Australia will today force China into a formal World Trade Organisation dispute process over Beijing’s punitive wine tariffs, in a move the beleaguered wine industry hopes will offer ‘‘an exit ramp’’ from the stoush.

Page 13: Origin Energy has cashed in on high LNG prices and pocketed $2 billion from selling down its Australia Pacific LNG stake to ‘‘lean into energy transition’’ opportunities such as battery storage, hydrogen and customer-facing technology.

Page 15: Gold mining aspirant Bellevue has vowed to be carbon neutral by 2026 in the belief that some customers will be willing to pay a ‘‘green premium’’ for bullion and jewellery made with net zero emissions.

Page 19: Brazilian meat processor JBS has been given the green light by the Foreign Investment Review Board for its $425 million takeover bid for salmon farmer Huon Aquaculture.

The Australian

Page 1: The Productivity Commission will conduct five-year reviews assessing the economic impacts of a 2050 net-zero-emissions target on regional and rural communities under a climate change safeguard mechanism adopted by cabinet on Monday night.

Page 2: Australian Federal Police Commissioner Reece Kershaw has warned that reopening international borders could trigger a wave of drug smuggling and human trafficking, after being appointed chair of the Five Eyes Law Enforcement Group.

Former attorney-general Christian Porter did not advise Scott Morrison in advance about anonymous donations he received to help pay for his now abandoned legal fight against the ABC.

Page 3: Mining magnate Clive Palmer has moved to drop “very large parts” of his defence in a defamation battle with the West Australian Premier after he lost a separate High Court case.

Page 4: Scott Morrison has established a clear election advantage over Anthony Albanese on the question of economic management, with a majority of voters backing the Coalition as the better party to lead the post-Covid recovery.

Page 5: New Australia Post chief executive Paul Graham will make his maiden appearance before a Senate estimates committee on Tuesday, armed with research underlining the crucial part the mail service played in keeping businesses running through the worst of the Covid-19 pandemic.

Page 15: Future Fund chairman Peter Costello says the dividend from economies reopening after Covid-19 lockdowns is beginning to “fade”, as the fund nudged up against the $200bn mark at the end of September.

A leading retail analyst has warned huge disruptions to global supply chains will likely continue into 2022, forcing retailers to assess whether to bear cost increases or pass them on to customers.

The West Australian

Page 8: Shadow attorney-general Nick Goiran has questioned the lawfulness of the McGowan Government’s sweeping no jab, no job policy in a “sponsored” post on Facebook.

Page 12: The former inspector of WA prisons says he supports raising the age of criminal responsibility, but believes the State Government should consider creating a standalone youth justice agency to better co-ordinate interventions for young people who offend.

Thousands of workers at a major parcel delivery service have walked off the job across the country as talks for a workplace agreement broke down.

Business: The Northern Australian Infrastructure Facility is reviewing its $95 million loan for the Thunderbird minerals sands project in the Kimberley after scope and ownership structure changes.

An inflation shock in Australia would make it even harder for people to enter the housing market if it resulted in higher interest rates, a global credit rating agency has warned.

Westgold Resources has sweetened its all-scrip bid for Gascoyne Resources as it battles for greater traction and ramps up pressure on the target’s board with its conditional takeover offer.