Morning Headlines

Perenti Global again pushing for deal with Macmahon

West Australia-based mining services provider Perenti Global is understood to have revived attempts to embark on a deal with Macmahon Holdings in the past three months. The Aus

IGO still Western Areas no-go

Questions are surfacing in the market about IGO’s intentions for Western Areas with it yet to come forward with a binding proposal for its takeover target. The Aus

Skills crisis bites deep as delays accumulate

More WA resources projects will inevitably be delayed as the skills shortage drags on and the State feels the pinch of reduced migration, industry groups warn. The West

Farmers fret over $25 minimum wage for fruit pickers

Farmers have warned of soaring labour costs from a decision guaranteeing casual fruit and vegetable pickers at least $25 an hour in response to widespread underpayments in the sector. The Fin

Investors start to fear cost crunch

The spectre of rising inflation arriving much faster than expected and uncertainty about how the at-home consumption boom will unwind has rattled investors in pizza maker Domino’s and chicken processor Inghams. The Fin

Iron ore slump ends record surpluses

Strong coal and gas exports in September failed to offset a large slump in the iron ore price that drove overall export values lower and ended Australia’s four back-to-back record trade surpluses. The Fin

Push for $1000 sign-on bonuses to lure workers

The hospitality sector is backing a novel proposal for state governments to provide up to $1000 in sign-on bonuses for staff to help tackle chronic shortages in the hospitality and accommodation sectors as the country reopens. The Fin

Ringing endorsement for Afterpay deal

Shareholders of US payments giant Square have unequivocally approved the issuance of shares to acquire Afterpay, bringing Australia’s largest ever merger deal a solid step closer to finalisation. The Fin

Workers abscond amid ‘slave labour’ claims

Australia’s Seasonal Worker Program is in crisis, with at least 1200 Pacific Island workers absconding from their employers over the past year, more than five times the number the previous year, as key sectors of the agriculture industry face catastrophic labour shortages. The Aus

Business in ‘arms race’ for workers

Businesses are in an arms race to attract the best talent as labour shortages plague most industries, sparking a crisis that threatens to turbocharge inflation and trigger earlier interest rate increases. The Aus

The Australian Financial Review

Page 1: The spectre of rising inflation arriving much faster than expected and uncertainty about how the at-home consumption boom will unwind has rattled investors in pizza maker Domino’s and chicken processor Inghams.

Thousands of local investors have gained exposure to the wild cryptocurrency market for the first time, tipping money into the record-breaking $40 million float of an Australian Securities Exchange-listed fund made up of global bitcoin mining, blockchain infrastructure and digital asset trading stocks.

Page 2: Farmers have warned of soaring labour costs from a decision guaranteeing casual fruit and vegetable pickers at least $25 an hour in response to widespread underpayments in the sector.

Page 3: One of the country’s largest industry superannuation funds, Aware Super, has written down the value of its blockbuster $1.1 billion takeover of financial planning business StatePlus to little more than $100 million after just five years.

Page 5: Australia failed in a bid to stop the Asian Development Bank from enacting a ban on investing in new coal-fired generation, a stance adopted despite its role representing Pacific Island nations that face an existential threat from climate change.

Page 6: Strong coal and gas exports in September failed to offset a large slump in the iron ore price that drove overall export values lower and ended Australia’s four back-to-back record trade surpluses.

Page 7: Australians complacent about COVID-19 vaccination risk being locked out of key Christmas travel destinations including NSW, Victoria and Queensland if they do not book a jab within days, rollout boss John Frewen says.

Page 8: The hospitality sector is backing a novel proposal for state governments to provide up to $1000 in sign-on bonuses for staff to help tackle chronic shortages in the hospitality and accommodation sectors as the country reopens.

The nations’ biggest companies are trying to fill at least 5500 vacancies amid expectations the economy will roar back to life once COVID-19 restrictions completely ease.

Page 13: French anger at what they call Prime Minister Scott Morrison’s ‘‘lies’’ over the axed $90 billion submarine project is being fuelled by the belief that despite the rocky relationship, shipbuilder Naval Group had made key concessions to Defence Department demands.

Page 17: Shareholders of US payments giant Square have unequivocally approved the issuance of shares to acquire Afterpay, bringing Australia’s largest ever merger deal a solid step closer to finalisation.

Page 20: The wild swings in cryptocurrency markets might be too severe for most investors, but research from trading platform eToro suggests Millennial and Gen Z market participants are unfazed.

Page 23: Gold giant Newcrest Mining says the Papua New Guinea government would need to show that gold refining in the nation can be secure and commercially competitive before forcing mining companies to refine their gold in PNG.

The Australian

Page 2: Energy Minister Angus Taylor has warned the renewables industry that it won’t be receiving “endless subsidies for the next century” and “you can’t sacrifice your economy for ambition”.

Page 4: Australia’s Seasonal Worker Program is in crisis, with at least 1200 Pacific Island workers absconding from their employers over the past year, more than five times the number the previous year, as key sectors of the agriculture industry face catastrophic labour shortages.

Page 8: Life expectancy in Australia has never been higher, with men slowly but surely catching up to women in the longevity stakes.

Page 15: Australia has the expertise to crack the code in the biggest challenge facing the Covid-19 vaccination rollout: extreme temperature control. But the nation’s top researchers do not have the funding to make it happen.

Page 16: West Australia-based mining services provider Perenti Global is understood to have revived attempts to embark on a deal with Macmahon Holdings in the past three months.

Questions are surfacing in the market about IGO’s intentions for Western Areas with it yet to come forward with a binding proposal for its takeover target.

Page 17: Labour shortages and supply chain issues are blowing out home construction completion times, but CSR boss Julie Coates says the construction materials giant is set to benefit from the disruption with delays set to extend demand for its products right through 2022.

The West Australian

Page 15: New modelling by the WA Health Department shows almost 200 fewer West Australians would die of COVID-19 if the border reopens at 90 per cent vaccination instead of 80 per cent.

Page 24: Defence Minister Peter Dutton has urged France to “move on” from the spat with Australia over the cancelled submarine deal, hinting the country’s reaction has been politically motivated.

Page 28: Long-suffering Baldivis tops the list of suburbs expected to have the biggest price growth in 2022.

Page 56: Nearly $16 million will be spent in WA to support 12 projects including new insights for reducing Aboriginal stillbirths, research to boost the reliability of cochlear implants, and adaptive diagnostics for emerging pandemic threats in regional areas of the State.

Business: More WA resources projects will inevitably be delayed as the skills shortage drags on and the State feels the pinch of reduced migration, industry groups warn.

Self-made billionaire Kerry Stokes has been celebrated for his extraordinary leadership journey after being crowned WA Pinnacle Awards’ Business Leader of the Year.

Malaga-based Steel Blue Boots has become the first safety boot manufacturer in the country to receive Climate Active certification to be Scope 3 carbon neutral.

The official opening of Australia’s biggest hybrid renewable microgrid system was marked at Gold Fields Agnew goldmine near Leinster on Thursday.