Morning Headlines

WA gas prices on the rise

WA gas prices have risen 10 per cent over the past year on increased production but remain among the cheapest in the world and well off the levels which have sparked a move by the Federal Government to introduce caps on the east coast. The West

Critical minerals sector takes aim at FIRB

A deep dive into the burgeoning critical minerals sector has revealed some major players want an overhaul of the way the Foreign Investment Review Board vets overseas investment. The Fin

KKR ponders selling stake in Australian Venue Co as Blackstone, BGH circle

Kohlberg Kravis Roberts could be contemplating a deal to sell only a stake of the $1bn pub operator Australian Venue Co, according to sources. The Aus

Race for hydrogen heats up

Energy giant BP’s most senior Australian executive responsible for hydrogen says the country must act now to respond to recent US measures to heavily subsidise production. The West

Longo takes aim at ASX ‘hubris’

ASX will be hit with more intense regulatory supervision to ensure it invests enough in the existing sharemarket settlement and clearing system after its plan to rebuild it collapsed last month, says ASIC chairman Joe Longo. The Fin

Ageing Millennials won’t shift right

The Liberal Party faces an ‘‘existential crisis’’ because of its failure to attract Millennial supporters, who are sticking with left-of-centre parties such as Labor and the Greens and defying expectations they will become more conservative as they age. The Fin

Gas price cap would amount to $20G/J subsidy: report

A price cap on gas would amount to a government subsidy of more than $20 a gigajoule, a report from EnergyQuest has concluded, as the federal Labor government finds itself increasingly wedged on how to deliver relief. The Fin

Metcash ‘closing price gap with rivals’

Metcash says it is focusing on closing the price gap between its stores and major competitors Coles and Woolworths as it warns of accelerating food and grocery inflation. The Aus

Record new figures reveal West Aussies happy to bet their bottom dollar

West Australians are pouring record amounts into gambling on horses, lottery tickets and scratchies in a continuation of a betting binge sparked by the COVID pandemic. The West

Critical minerals exploration soars

Mineral exploration expenditure across Australia increased by 2.6 per cent in the September quarter, up by $27.6 million to $1.08 billion in original terms, according to the latest data from the Australian Bureau of Statistics. The West

The Australian Financial Review

Page 1: ASX will be hit with more intense regulatory supervision to ensure it invests enough in the existing sharemarket settlement and clearing system after its plan to rebuild it collapsed last month, says ASIC chairman Joe Longo.

Page 2: The private sector wages bill rose 2.9 per cent in the September quarter to be 11 per cent higher through the year, partially reflecting more people in work but also a sharp acceleration in wages.

Page 4: The Liberal Party faces an ‘‘existential crisis’’ because of its failure to attract Millennial supporters, who are sticking with left-of-centre parties such as Labor and the Greens and defying expectations they will become more conservative as they age.

Page 5: Employers have warned that multi-employer agreements could drive up the cost of renewable energy projects and put at risk the Albanese government’s promise to reduce power prices.

Page 6: The federal government is unlikely to recoup the $31.9 billion injected into the National Broadband Network, even if the NBN Co is eventually privatised in the 2030s, a leading telco analyst says.

Page 8: The number of class actions lodged by aggrieved investors has risen in the past 12 months, dispelling fears that the continuous disclosure laws introduced by the Morrison government in August 2021 would make it harder for disgruntled shareholders to sue directors.

Page 12: A price cap on gas would amount to a government subsidy of more than $20 a gigajoule, a report from EnergyQuest has concluded, as the federal Labor government finds itself increasingly wedged on how to deliver relief.

Page 17: A deep dive into the burgeoning critical minerals sector has revealed some major players want an overhaul of the way the Foreign Investment Review Board vets overseas investment.

Page 20: Weeks after Meta-owned Facebook banned groups caught sending streams of private messages to potential gamblers, promising free tips in exchange for signing up to online bookmakers, they returned to the platform to seek out new customers.

The Australian

Page 2: Labor is increasingly unlikely to put out a detailed plan on how an Indigenous voice to parliament would work before next year‘s national vote to constitutionally recognise Aboriginal Australians through an advisory body.

Page 5: Australian consumers are set to break spending records on Christmas presents this year, but rises in the cost of living and inflation has forced shoppers to start purchasing earlier than usual and make the most of sales, such as Black Friday and Cyber Monday.

Page 13: West Australian contractor Clough has collapsed after a takeover by Italy’s Webuild fell through less than four weeks after a deal was initially struck.

Many large companies are positioning themselves to restart investment programs and revisit mergers and acquisitions, given they expect financial market volatility to persist for some time, ANZ executive Tammy Medard says.

Page 14: Kohlberg Kravis Roberts could be contemplating a deal to sell only a stake of the $1bn pub operator Australian Venue Co, according to sources.

Page 15: Metcash says it is focusing on closing the price gap between its stores and major competitors Coles and Woolworths as it warns of accelerating food and grocery inflation.

Page 17: Kerry Stokes-backed Beach Energy has until Monday to match a takeover proposal for Warrego Energy before the company’s board instead recommends shareholders support a rival bid from Gina Rinehart-owned Hancock Prospecting.

The West Australian

Page 4: Perth has been named as one of the top places to invest in property in a national report, with a much-maligned Armadale among the list of 10 local suburbs tipped to shine in 2023.

A guillotine is hanging over the summer holiday plans of thousands of West Australians with the McGowan Government dragging its feet over releasing details of a ban on recreational fishing for prized species such as snapper and dhufish that could come into effect within weeks.

Page 5: Residential Building WA may be set for a major restructure after parting ways with longstanding general manager Jim Ilias, with works potentially to be absorbed into Plunkett Homes.

Page 7: West Australians are pouring record amounts into gambling on horses, lottery tickets and scratchies in a continuation of a betting binge sparked by the COVID pandemic.

Page 8: Liberal MP Ian Goodenough has lost control of his Moore division in a massive internal power shift away from the prominent Clan member that likely indicates his days in Federal Parliament are numbered.

Page 9: Senior bureaucrats facing a PR crisis over robodebt instructed a government watchdog to substantially amend its report into the botched debt recovery scheme to make it less negative.

Page 14: The University of WA is calling on western suburbs residents to offer up their spare rooms to students as Perth’s accommodation crisis worsens.

Business: WA gas prices have risen 10 per cent over the past year on increased production but remain among the cheapest in the world and well off the levels which have sparked a move by the Federal Government to introduce caps on the east coast.

Energy giant BP’s most senior Australian executive responsible for hydrogen says the country must act now to respond to recent US measures to heavily subsidise production.

Mineral exploration expenditure across Australia increased by 2.6 per cent in the September quarter, up by $27.6 million to $1.08 billion in original terms, according to the latest data from the Australian Bureau of Statistics.

Extended wait times for some vehicles remain a factor for Australian car buyers despite the continuing recovery in the vehicle market, the industry’s peak body says.