Morning Headlines

Costly switch from coal

The rising cost of batteries looms as a potential downside risk for the McGowan Government’s $3.8 billion green energy infrastructure push, according to an analyst with global research firm Wood Mackenzie. The West

Immigration cases swamp tribunal

Australia’s troubled visa system is overwhelming the Administrative Appeals Tribunal, where the number of immigration complaints has tripled as it readies for a $25 million budget cut. The Fin

Charities face off in court over $1.3m will

Two of Western Australia’s most beloved charities will face off in the Supreme Court in a fight over a $1.3m fortune. The Aus

Red-hot jobs market to push RBA harder on rates

Money markets are betting the Reserve Bank of Australia will increase its cash rate by another percentage point over the next two months after the labour market defied expectations in May to deliver strong job gains and record levels of workplace participation. The Fin

Health juggling act for Albanese

Anthony Albanese is considering a compromise at his first national cabinet meeting by extending Covid healthcare funding to the states while rejecting demands to inject an extra $5bn annually into public hospitals. The Aus

Labor faces carbon fight on all fronts

Anthony Albanese faces a parliamentary defeat over his plan to legislate a 43 per cent emissions reduction target by 2030, as the Greens, the Coalition and teal  independents line up to block the bill. The Aus

Pay growth tipped to exceed 4pc off back of wage ruling

The Fair Work Commission’s historic minimum wage increases could quickly flow on to the bulk of the workforce on enterprise agreements due to more deals up for negotiation, economists say, fuelling expectations wage growth could surpass 4 per cent. The Fin

Deloitte set to topple PwC with 19pc income jump

Deloitte is challenging PwC’s place as the largest consultancy by revenue in Australia as the firm posts a 19 per cent jump in income to $2.5 billion in the year to May. The Fin

FDA rejects Artrya bid

Perth-based medtech company Artrya says the US Food and Drug Administration did not clear its application for commercial use of its Salix Coronary Anatomy product. The West

The Australian Financial Review

Page 1: Money markets are betting the Reserve Bank of Australia will increase its cash rate by another percentage point over the next two months after the labour market defied expectations in May to deliver strong job gains and record levels of workplace participation.

Page 3: A major repair job to fix the nation’s complex and cluttered visa system must make Australia an internationally competitive destination for skilled workers and could include streamlining application rules, Immigration Minister Andrew Giles says.

Page 9: The Fair Work Commission’s historic minimum wage increases could quickly flow on to the bulk of the workforce on enterprise agreements due to more deals up for negotiation, economists say, fuelling expectations wage growth could surpass 4 per cent.

Page 10: Australia’s troubled visa system is overwhelming the Administrative Appeals Tribunal, where the number of immigration complaints has tripled as it readies for a $25 million budget cut.

Page 11: Deloitte is challenging PwC’s place as the largest consultancy by revenue in Australia as the firm posts a 19 per cent jump in income to $2.5 billion in the year to May.

Page 15: BHP Group will hold on to its Mt Arthur thermal coal mine in the NSW Hunter Valley and close it 15 years before schedule after failing to find a buyer.

The local boss of US foods giant General Mills says the manufacturer has had to increase prices by up to 17 per cent for some of its well-known brands like Nature Valley bars and warned that more price rises are likely to come.

Canadian group Dye & Durham’s $2.9 billion takeover bid for Link Group has hit a big hurdle after the competition watchdog said it had ‘‘significant preliminary competition concerns’’, triggering a hefty sell-off that sent Link shares to a two-year low.

Page 21: Phil Bishop, the new chief executive of discount retailer The Reject Shop, wants to expand the store network from its 367 outlets, and become closer to its customers.

The Australian

Page 1: Anthony Albanese faces a parliamentary defeat over his plan to legislate a 43 per cent emissions reduction target by 2030, as the Greens, the Coalition and teal independents line up to block the bill.

Page 3: Physical fitness in childhood is associated with better brain performance in midlife and may protect against dementia.

Qantas has copped a barrage of abuse on social media after leaving a planeload of passengers stranded at Dallas Fort Worth airport in the US after their aircraft had an engineering issue.

Page 4: Anthony Albanese is considering a compromise at his first national cabinet meeting by extending Covid healthcare funding to the states while rejecting demands to inject an extra $5bn annually into public hospitals.

Complaints about the conduct of energy companies almost doubled to 761 in May as the energy crisis-wracked the eastern seaboard and fears grew there would be a “rolling tsunami of business closures” in regional Australia.

Page 5: The tightest labour market in 40 years will add to the upward pressure on wages growth in the month ahead, after employment increased by 61,000 in May and left the jobless rate at 3.9 per cent.

Industry and Science Minister Ed Husic plans to visit cities across the world that have attracted workers from Australia, in an effort to “regain” the talent lost to overseas markets.

Multicultural Affairs Minister Andrew Giles says there needs to be a “greater distinction” in the national security debate between the Communist Party of China and Chinese-Australians.

Page 7: Two of Western Australia’s most beloved charities will face off in the Supreme Court in a fight over a $1.3m fortune.

Page 17: Origin Energy has conceded the nation’s electricity system is in “uncharted territory” after the operator seized control of the market in a bid to stabilise the grid and cut the risk of blackouts.

Page 18: Speculation is mounting that listed non-bank lender Latitude Financial is now keen to walk away from its deal to buy Humm’s consumer finance business due to its deteriorating performance.

Page 19: Bubs Australia has struck a deal with one of North America’s largest retailers, Walmart, to stock its products in about 800 stores.

Page 22: Superannuation funds are going “back to basics” and embracing portfolio diversification as the heat comes out of equity markets, with other asset classes, including fixed income, now much more attractive as rates rise.

The West Australian

Page 6: Former attorney-general Christian Porter has hosted a dinner in Perth to introduce his “good friend” Peter Dutton, the new Opposition Leader, to some of the State’s most influential figures.

A marketing campaign is about to be launched in Europe by the McGowan Government to lure Irish and Polish tradies to help solve WA’s people drought.

Page 7: Shoppers shouldn’t expect relief at the check-out any time soon, with food producers warning they have no choice but to pass on their higher costs.

Page 11: St John WA chair Shayne Leslie has thrown his support behind embattled chief executive Michelle Fyfe as it was revealed police have been forced to respond to 23 calls for ambulances in the past month.

Page 18: Chinese developer 3 Oceans — which was behind failed plans for a 43-storey development on the Scarborough beachfront — is seeking development approval for a proposed apartment block between McCabe and Coventry streets.

Business: The rising cost of batteries looms as a potential downside risk for the McGowan Government’s $3.8 billion green energy infrastructure push, according to an analyst with global research firm Wood Mackenzie.

With the ongoing war for tech talent, businesses must prioritise transferable skills over long histories of work experience when hiring, Perth experts say.

Perth-based medtech company Artrya says the US Food and Drug Administration did not clear its application for commercial use of its Salix Coronary Anatomy product.

Exports of dairy breeding stock soar Australian live cattle exports to China soared in the first quarter of the year, with the industry bucking the trend as others fall victim to the ongoing trade war.

Veteran insolvency accountant Bryan Hughes approached high-profile Perth business figures to invest in his brother’s long-battling technology play Titan Interactive.