Forrest ducks investment fund
Andrew Forrest has defended the absence of his company Fortescue Metals Group from the West Australian mining industry’s new $750m community investment fund, flagging that his company will be willing to invest if the government backs his idea for a new green technology research centre. The Aus
More exemptions to salvage IR bill
The Albanese government is poised to exempt more small businesses from exposure to multi-employer bargaining, in a bid to win the support of independent senator David Pocock and secure the passage of its industrial relations legislation. The Fin
Retail super funds forced to reveal owner dividends
Retail super funds will be forced to publish details of the dividends paid to their owners after Labor and the Greens struck a deal on new rules requiring the sector to provide information about profits. The Fin
Gina Rinehart tips into IPO hopeful Brazilian Rare Earths
Mining billionaire Gina Rinehart’s Hancock Prospecting is understood to have written a cheque for IPO hopeful Brazilian Rare Earths’ $21 million private round. The Fin
Lost overtime at $8k a year
Australians are working six weeks of unpaid overtime on average every year and missing out on more than $8000 in pay as a result, new research has found. The Aus
Rio Tinto: Albo’s plan a handbrake on wages & economy
Rio Tinto’s iron ore boss Simon Trott fears an industrial relations shake-up will be a handbrake on mining and the wider economy and wants the resources sector carved out. The West
Spending spree lifts confidence
The persistently strong labour market and Black Friday sales are likely leading to a rise in consumer confidence, which has improved for a second week running. The West
New high for MinRes on lithium forecast
Shares in Chris Ellison’s Mineral Resources shot to a record high on the back of upgraded price forecasts for lithium and electric vehicle demand. The West
Brickworks banks on gas and automation
Building supplies giant Brickworks is banking on a major WA investment to automise brickmaking which would relieve the company from crippling labour shortages. The West
The Australian Financial Review
Page 1: A raft of high-profile Australian investors are caught up in a $333 million investment wipeout after the near collapse of Nasdaq-listed Australian bitcoin miner Iris Energy as a US creditor demanded it repay debts due immediately.
Page 3: Retail super funds will be forced to publish details of the dividends paid to their owners after Labor and the Greens struck a deal on new rules requiring the sector to provide information about profits.
Page 4: The Albanese government is poised to exempt more small businesses from exposure to multi-employer bargaining, in a bid to win the support of independent senator David Pocock and secure the passage of its industrial relations legislation.
Page 6: FTX Australia administrators have unearthed $42 million in bank accounts linked to the local FTX operations, but warn ‘‘very significant’’ sums are still outstanding for the customers reeling from the dramatic collapse of global crypto exchange FTX.
Page 9: Companies involved in renewable energy transmission projects in Australia are in a race against time to secure enough cables and other equipment used in building out connections and infrastructure because global demand for cables could be twice as high as available supply by 2030.
Page 13: Electric vehicle fleet and lease companies are bracing for an explosion in demand after the government clinched a crossbench Senate deal to exempt low-and zero emission cars from fringe benefits tax, potentially saving buyers more than $30,000.
Page 16: Origin Energy chief executive Frank Calabria has called for honesty about the likely increase in power bills from the ‘‘truly staggering’’ scale of transformation required for the energy transition this decade, warning that community support for the task ahead could be lost.
Page 18: Mining billionaire Gina Rinehart’s Hancock Prospecting is understood to have written a cheque for IPO hopeful Brazilian Rare Earths’ $21 million private round.
Page 22: The clean energy incentives in US President Joe Biden’s Inflation Reduction Act will be ‘‘devastating’’ for Australia’s global hydrogen superpower ambitions, warns a major renewable energy investor.
The Australian
Page 1: Reserve Bank governor Philip Lowe has challenged the Albanese government to make workplaces more flexible and productive and to get the budget under control in order to secure the country’s prosperity in a more dangerous post-Covid world.
Page 2: Andrew Forrest has defended the absence of his company Fortescue Metals Group from the West Australian mining industry’s new $750m community investment fund, flagging that his company will be willing to invest if the government backs his idea for a new green technology research centre.
Australians are working six weeks of unpaid overtime on average every year and missing out on more than $8000 in pay as a result, new research has found.
Page 4: Shipbuilding unions have warned the Albanese government there won’t be enough skilled Australian workers to build the nation’s promised nuclear submarines unless it orders the construction of up to six diesel-electric boats first.
The global decline in fossil fuel consumption during the Covid-19 pandemic will have a “negligible” impact on climate change, with Australians facing a future of hotter summers, longer bushfire seasons, less rain and more droughts.
Page 13: Fortescue Metals executive chairman Andrew Forrest has signalled the company hopes to open up a business mining and refining rare earths, as the iron ore giant looks to reshape its mining portfolio around metals needed for a global energy transition.
Pendal shareholders will vote on whether to approve the takeover of the fund manager by its larger rival Perpetual just two days before Christmas, with an independent report finding the deal was “fair and reasonable”.
Page 21: The Australian Catholic University will cut jobs, travel and consultancies to save $30m next year as it suffers the financial impact of losing domestic students who have abandoned higher education to take jobs or enjoy post-Covid travel opportunities.
The West Australian
Page 8: Small businesses striking pay deals under proposed new multi-employer bargaining rules could face costs of more than $14,600 each, government data reveals, as the size of a “small” employer proves a sticking point in negotiations over the legislation.
Mark McGowan has unequivocally backed the Albanese Government’s industrial relations Bill while criticising “scaremongering” about the potential for the changes to result in widespread strikes.
Rio Tinto’s iron ore boss Simon Trott fears an industrial relations shake-up will be a handbrake on mining and the wider economy and wants the resources sector carved out.
Page 9: A southern suburbs primary school is the latest casualty from the fallout of embattled builder Firm Construction, with parents told Wellard Village Primary School will not be built in time for the start of the 2023 school year.
Page 11: Labor MP electorate officers are spending a good chunk of their time adding to a campaign database that contains private information on thousands of West Australians.
Page 16: WA’s nurses’ union will continue to defy Industrial Relations Commission orders and launch a Statewide strike on Friday as its leadership keeps up its shambolic bargaining over the latest Government pay offer.
Page 20: One in six youth custodial officers at Banksia Hill Detention Centre have quit in the past year with the crisis-plagued facility barely managing to have half the required staff on deck most days.
Business: The persistently strong labour market and Black Friday sales are likely leading to a rise in consumer confidence, which has improved for a second week running.
Fortescue Metals Group isn’t backward in having a crack at other big companies, but perhaps it’s time it followed their lead in running an annual general meeting.
Shares in Chris Ellison’s Mineral Resources shot to a record high on the back of upgraded price forecasts for lithium and electric vehicle demand.
Lendlease, one of Australia’s biggest property groups, will stop piping gas into kitchens of new properties around the world by 2030 as it pushes to take fossil fuels out of its buildings by 2040.
Building supplies giant Brickworks is banking on a major WA investment to automise brickmaking which would relieve the company from crippling labour shortages.
