Morning Headlines
You can purchase access to this special report or subscribe to Business News.
Subscribe to Business News.
Griffin Coal’s first disclosed financial results in four years have revealed the loss-making Collie miner retains the support of its lenders for at least 12 more months, despite slashing the value of its mining leases by another $400 million. The West
Euroz Hartleys looks at acquisitions
Euroz Hartleys executive chairman Andrew McKenzie has flagged further acquisitions as the stampede of retail investors into the market during COVID-19 solidifies the wealth management group’s belief in its core stockbroking and corporate advisory businesses. The Fin
Ramelius, St Barbara holding takeover talks
West Australia-based Ramelius Resources is understood to have held takeover talks with fellow gold miner St Barbara. The Aus
Swan River link to Canning Bridge
The State Government is looking to leverage the upcoming Federal election to secure funding for an expansion of Perth’s ferry network. The West
Heavyweights lead Sun Cable capital raising
Billionaires Mike Cannon-Brookes and Andrew Forrest have increased their investment in Sun Cable’s proposed $30 billion solar power export project to Singapore, leading a $210 million capital raising that should take the venture through to financial close in late 2023. The Fin
Inflation hits food prices
The price to supermarkets of about 100 household staples including SPC baked beans and spaghetti, Ardmona canned tomatoes and Goulburn Valley fruits will rise 10 to 20 per cent as parent company SPC Global passes on what its chief executive calls the biggest cost inflation shift of his career. The Fin
Women in the box seat for RBA deputy chief
A woman is expected to be named Reserve Bank of Australia deputy governor for the first time in the bank’s 62-year history, with assistant governor Michele Bullock among the leading options. The Fin
Mid-tier firms brace for pain on wages, rates
Australia’s mid-market businesses are bracing for wage growth of up to 8 per cent over the next year, with industry leaders flagging staff retention and recruitment as their biggest challenge ahead of this month’s federal budget. The Fin
Pensioners to get biggest rise in nine years
The Age Pension and other social security benefits will next week deliver more than five million Australians their largest payment rise in almost a decade. The Aus
Neometals, Mercedes step on gas
Neometals’ battery recycling joint venture has progressed talks with Mercedes-Benz to build a 2500 tonne-a-year lithium-ion battery recycling plant in Germany, as the world’s automotive giants step up the response to soaring demand for electric vehicles. The Fin
The Australian Financial Review
Page 1: The price to supermarkets of about 100 household staples including SPC baked beans and spaghetti, Ardmona canned tomatoes and Goulburn Valley fruits will rise 10 to 20 per cent as parent company SPC Global passes on what its chief executive calls the biggest cost inflation shift of his career.
Page 3: A woman is expected to be named Reserve Bank of Australia deputy governor for the first time in the bank’s 62-year history, with assistant governor Michele Bullock among the leading options.
Page 4: Australia’s mid-market businesses are bracing for wage growth of up to 8 per cent over the next year, with industry leaders flagging staff retention and recruitment as their biggest challenge ahead of this month’s federal budget.
Page 7: An outbreak of COVID-19 cases driven by the highly contagious BA.2 omicron variant will likely peak in mid-April, possibly disrupting the federal election campaign, modelling suggests.
Page 10: Japan is looking to Australia to help make up possible future shortfalls of oil and gas cargoes from Russia as buyers scramble to find long-term alternatives to meet energy needs if there is a prolonged conflict over Ukraine.
Page 12: A regional carbon trading market will be front and centre in Singapore this week as negotiators try to leverage the city-state’s regional hub status and Australia’s emerging stock of carbon credits.
Page 13: International student numbers at universities and vocational education have bounced back to above pre-pandemic levels, with the number of students commencing studies higher than in 2019.
Page 14: Billionaires Mike Cannon-Brookes and Andrew Forrest have increased their investment in Sun Cable’s proposed $30 billion solar power export project to Singapore, leading a $210 million capital raising that should take the venture through to financial close in late 2023.
Page 17: Euroz Hartleys executive chairman Andrew McKenzie has flagged further acquisitions as the stampede of retail investors into the market during COVID-19 solidifies the wealth management group’s belief in its core stockbroking and corporate advisory businesses.
Page 19: Boral’s Australian business ‘‘hasn’t lived up to its potential’’ in recent years, according to chief executive Zlatko Todorcevski, who will ‘‘absolutely look’’ at local takeover opportunities during a rebuild of the domestic enterprise under the scrutiny of new controlling shareholders Kerry and Ryan Stokes.
Neometals’ battery recycling joint venture has progressed talks with Mercedes-Benz to build a 2500 tonne-a-year lithium-ion battery recycling plant in Germany, as the world’s automotive giants step up the response to soaring demand for electric vehicles.
The Australian
Page 1: Surging petrol prices and threats of higher interest rates have sparked demands from Liberal premiers to cut fuel excise to address cost-of-living pressures ahead of key elections.
Anthony Albanese has drawn level with Scott Morrison as preferred prime minister for the first time in more than two years as the Coalition struggles to claw back electoral territory from Labor.
Page 4: The Age Pension and other social security benefits will next week deliver more than five million Australians their largest payment rise in almost a decade.
Page 13: US fund manager Fidelity, which manages $6 trillion in global assets, is planning to step up its pressure on Australian companies to get out of coal and coal-fired power production, taking a tougher line in votes on resolutions at annual meetings.
Page 14: West Australia-based Ramelius Resources is understood to have held takeover talks with fellow gold miner St Barbara.
As Perth opens itself to the world after its pandemic restrictions, Perth prestige prices are still going backwards, having never recovered from the peak pricing in the last mining boom.
Page 15: Anti-money laundering consultancy Kroll has warned Australia is failing to question the source of funds used in major purchases.
Impossible Foods president Dennis Woodside sees the company’s plant-based burgers, sausages and other products more as by-passing the cow rather than fake meat, as well as potentially helping in the fight against inflation.
Page 19: The ABC has been urged to abandon its controversial move to require Australians to have a mandatory login to use its streaming service iview, amid wider concerns about the lack of industry consultation about the risks of the initiative.
The West Australian
Page 3: The State Government is looking to leverage the upcoming Federal election to secure funding for an expansion of Perth’s ferry network.
Page 4: Rampaging oil prices are on course to add tens — or even hundreds — of millions of dollars to the WA Budget, prompting calls from welfare groups for the McGowan Government to prioritise cost-of-living relief for families.
The cost of Metronet is in danger of blowing out even further as a result of the climbing cost of fuel.
Page 5: Half of all West Australians are considering an electric or hybrid as their next vehicle — the first time interest in green models has surpassed petrol and diesel cars.
Page 7: Scott Morrison will touch down in Perth on Tuesday for the first time in 279 days, now the State’s border has reopened.
Business: Griffin Coal’s first disclosed financial results in four years have revealed the loss-making Collie miner retains the support of its lenders for at least 12 more months, despite slashing the value of its mining leases by another $400 million.
WA’s furniture manufacturing industry fears it will struggle to survive once the State Government ends native timber logging from 2024.
In the latest example of the mining industry trying to shake off a traditionally toxic workplace culture, Brazilian iron ore mining giant Vale has sacked 157 workers after a whistleblower program.
Fertiliser prices are surging as supply upheaval from Russia’s war with Ukraine leaves governments struggling to secure vital crop nutrients, adding to concerns that record global food inflation will accelerate.