Energy crisis lifts exports to record
Unprecedented coal and gas prices and a softer Australian dollar are set to inflate the already anticipated surge in resources and energy exports this year to a record $379 billion, but a drop-off is forecast in 2022-23. The Fin
Urgent call for burst in migration
Australia’s largest employer groups are pushing for a huge increase in migration levels in next year’s budget to counter the skilled workforce crisis and Covid-19 hit to economic growth. The Aus
CEOs look inward for talent as they build tech teams
The CEOs of Australia’s biggest companies say digital skills are now core to their operations, with many building up large in-house teams to carry out tasks such as digitising operations, developing new digital products and harnessing customer data. The Fin
Pleas for booster shots, masks amid omicron Christmas surge
Australians eligible for COVID-19 booster shots are being urged to come forward for a third jab before Christmas, as record community transmissions of the virus and pressure on testing infrastructure risks disrupting summer hospitality and tourism spending. The Fin
Iron ore could fall by 20pc
Export earnings from the nation’s biggest money spinner, iron ore, are to “decline noticeably” as Brazilian supply recovers and growth in global demand slows further. The West
Supply chain woes disrupt two out of three firms
Two out of three businesses have been hit by supply chain chaos this year and most do not expect the situation to improve until 2023, with potential ramifications for jobs, profits and prices. The Fin
Millennials drive Australian ETFs towards 2 million investors in 2022
The number of Australians invested in exchange-traded funds surged 33 per cent to 1.73 million this year, according to new research, as the booming market looks set to add another 275,000 consumers next year. The Fin
Star bid for Crown expected with rivals yet to show their hands
Star Entertainment is expected to emerge with a rival bid for Crown Resorts in February after Blackstone came forward with a $8.5bn approach for the James Packer-backed business in November. The Aus
Scott’s Woolies warning
Wesfarmers boss Rob Scott has written to the head of the Pharmacy Guild of Australia in a bid to assert the company’s offer for Australian Pharmaceutical Industries as a safer bet than Woolworths. The West
The Australian Financial Review
Page 1: Unprecedented coal and gas prices and a softer Australian dollar are set to inflate the already anticipated surge in resources and energy exports this year to a record $379 billion, but a drop-off is forecast in 2022-23.
Australians eligible for COVID-19 booster shots are being urged to come forward for a third jab before Christmas, as record community transmissions of the virus and pressure on testing infrastructure risks disrupting summer hospitality and tourism spending.
Page 3: The government says it is not obliged to disclose climate change risk to sovereign bondholders, despite imposing similar duties on private companies and admitting the national coffers could be tapped to support industries and communities hurt by rising temperatures.
Page 5: Two out of three businesses have been hit by supply chain chaos this year and most do not expect the situation to improve until 2023, with potential ramifications for jobs, profits and prices.
Page 12: The CEOs of Australia’s biggest companies say digital skills are now core to their operations, with many building up large in-house teams to carry out tasks such as digitising operations, developing new digital products and harnessing customer data.
Page 13: A new British tax regime for alcoholic drinks will increase the cost of Australian wine, making it less competitive and wiping out the gains the industry made under the free-trade deal signed last week.
Page 17: Funds from infrastructure investor IFM Investors will own 30 per cent of Sydney Airport in a $23.6 billion takeover deal, but they have structured the deal so they can claim this will not breach cross-ownership rules.
Page 18: The work-from-home trend is heavily slashing occupancy of CBD childcare centres, according to sector giant G8 Education.
Page 19: The number of Australians invested in exchange-traded funds surged 33 per cent to 1.73 million this year, according to new research, as the booming market looks set to add another 275,000 consumers next year.
Page 21: Procter & Gamble is Australia’s most prolific digital advertiser, spending just over $30 million on digital ads in 2021, according to data provided to The Australian Financial Review.
The Australian
Page 1: Australia’s largest employer groups are pushing for a huge increase in migration levels in next year’s budget to counter the skilled workforce crisis and Covid-19 hit to economic growth.
Childcare fees have jumped by as much as $46 a day as pandemic population flows fuel fee hikes in outer suburbs and regional towns.
Page 2: Australia’s top environment bureaucrat is an adviser to a Chinese Communist Party body that lauds the country’s climate credentials and promotes Xi Jinping’s “Green Belt and Road Initiative” to the world.
Foreign Minister Marise Payne‘s chief-of-staff, Justin Bassi, is set to be named the Australian Strategic Policy Institute’s new head, taking over from outgoing executive director Peter Jennings.
Page 5: Australia’s major airlines will fly into Christmas and the new year with zero tolerance for disruptive passengers after a dramatic increase in abusive behaviour towards crew partly triggered by face mask requirements.
Page 13: Cbus, the $67bn construction industry super fund, is in talks with two more smaller funds about merging as part of its bid to become a $150bn fund, which would place it among the sector’s biggest players, according to chairman Steve Bracks.
Rio Tinto is set to announce a new chairman as it looks to move on from the Juukan Gorge scandal, with Canadian Dominic Barton most likely to lead the mining giant’s board.
Page 14: Star Entertainment is expected to emerge with a rival bid for Crown Resorts in February after Blackstone came forward with a $8.5bn approach for the James Packer-backed business in November.
Page 15: An Australian sports business group has raised more than $30m from investors to fund a new global Supercross racing series, becoming the first local entity to run a racing circuit around the world.
The West Australian
Page 3: The Morrison Government does not expect States and Territories to reimpose COVID-19 lockdowns despite a worrying surge in infections fuelled by holiday festivities and travel.
Slap on the sunscreen or crank the airconditioner — it’s going to be another hot and sunny Christmas Day in WA.
Page 5: Opposition Leader Anthony Albanese has unveiled his first WA election commitment — a $150,000 lighting makeover of Roe Street Bridge in Northbridge to improve safety.
Page 18: Export earnings from the nation’s biggest money spinner, iron ore, are to “decline noticeably” as Brazilian supply recovers and growth in global demand slows further.
Business: After a bumper year of stock listings, Asian companies may find it hard to repeat the success in 2022 given the prospect of rising interest rates and China’s tightening grip on Big Tech.
Australia’s resources and energy exports are expected to reach an unprecedented high of $379 billion this financial year — up 22 per cent on the record set in 2020-21 — but iron ore earnings are tipped to be $35b lower.
KPMG insolvency accountants will stay on as administrators of Salt Lake Potash despite protests from the Australian Securities and Investments Commission.
Wesfarmers boss Rob Scott has written to the head of the Pharmacy Guild of Australia in a bid to assert the company’s offer for Australian Pharmaceutical Industries as a safer bet than Woolworths.
