NZ Labour left in trouble
New Zealand’s Labour government has been rocked after Jacinda Ardern announced her shock resignation as prime minister, triggering a quick rebuild of its leadership team 10 months out from an election that opinion polls show it is on track to lose. The Fin
WeMoney turns profitable in just 30 months
Financial wellness app WeMoney, which is backed by Perth billionaire Laurence Escalante, has hit profitability just 2 1/2 years after being launched, thanks to a boom in users following rising cost of living pressures last year. The Fin
BHP’s booming iron ore mines slowed by port bottleneck
BHP is building up big stockpiles of Australian iron ore as its Port Hedland system struggles to match the surging volumes coming out of its mines. The Fin
Alcoa output still down on gas outages
Alcoa’s West Australian operations were forced to rely on diesel generators after outages at the state’s domestic gas plants caused a power crisis earlier this month – with the global alumina giant’s Kwinana refinery still operating at only 70 per cent capacity. The Aus
MinRes turns kingmaker as it taps out of Warrego bid
Chris Ellison’s Wednesday night declaration that Mineral Resources does not intend to bid for Warrego Energy leaves it in an envious spot, even if it has left investors with more questions than answers for now. The Fin
‘Easy wins’ goal for financial advice
Hopes of bold reform to make financial advice cheaper have been dashed after Assistant Treasurer Stephen Jones said the Albanese government was looking for ‘‘obvious and easy wins’’ and would not commit to implement Treasury’s plan to deregulate the troubled sector in full. The Fin
ACCC calls for urgent action as scams spiral
A doubling in scams each year has prompted ACCC chairwoman Gina Cass-Gottlieb to call for urgent regulations to force digital platforms to proactively take down fraudsters’ sites and verify advertisers. The Fin
Indonesia ore export ban could hit prices
Indonesia is preparing to throw a grenade into the global bauxite market by banning exports of the ore used in aluminium and in electric batteries, as South-East Asia’s largest economy doubles down on protectionist policies to boost refining and advanced manufacturing at home. The Fin
Tech giants to axe 28,000 jobs
Microsoft and Amazon.com, two of the world’s biggest companies, began cutting a total of 28,000 jobs on Wednesday (Thursday AEDT) in a post-pandemic reckoning that has left almost no tech name unscathed. The Fin
The Australian Financial Review
Page 1: New Zealand’s Labour government has been rocked after Jacinda Ardern announced her shock resignation as prime minister, triggering a quick rebuild of its leadership team 10 months out from an election that opinion polls show it is on track to lose.
Page 3: Australia’s biggest coal miner, Glencore, has challenged the NSW government to explain how a cap on coal prices will flow through to household power bills, while BHP says the cost of producing coal in NSW may soon exceed the government’s $125 cap on prices.
Page 4: Hopes of bold reform to make financial advice cheaper have been dashed after Assistant Treasurer Stephen Jones said the Albanese government was looking for ‘‘obvious and easy wins’’ and would not commit to implement Treasury’s plan to deregulate the troubled sector in full.
Page 8: A doubling in scams each year has prompted ACCC chairwoman Gina Cass-Gottlieb to call for urgent regulations to force digital platforms to proactively take down fraudsters’ sites and verify advertisers.
Page 11: Indonesia is preparing to throw a grenade into the global bauxite market by banning exports of the ore used in aluminium and in electric batteries, as South-East Asia’s largest economy doubles down on protectionist policies to boost refining and advanced manufacturing at home.
Page 12: Microsoft and Amazon.com, two of the world’s biggest companies, began cutting a total of 28,000 jobs on Wednesday (Thursday AEDT) in a post-pandemic reckoning that has left almost no tech name unscathed.
Page 14: Chris Ellison’s Wednesday night declaration that Mineral Resources does not intend to bid for Warrego Energy leaves it in an envious spot, even if it has left investors with more questions than answers for now.
Page 16: Financial wellness app WeMoney, which is backed by Perth billionaire Laurence Escalante, has hit profitability just 2 1/2 years after being launched, thanks to a boom in users following rising cost of living pressures last year.
Page 17: BHP is building up big stockpiles of Australian iron ore as its Port Hedland system struggles to match the surging volumes coming out of its mines.
Page 19: Andrew Forrest says Singapore wants suppliers to give it the fuel for green energy, not the end-product electricity that originally was part of the plan for his giant Sun Cable project with fellow billionaire Mike Cannon-Brookes.
The Australian
Page 1: Schools will have to hit tough new academic and student wellbeing targets to pocket federal funding worth $26bn a year, after an alarming new report found that 90,000 Australian children are flunking baseline literacy and numeracy tests.
Page 2: Jacinda Ardern shocked her party and the country when she announced on Thursday that she was to step down as Prime Minister after 5½ years, leaving New Zealand Labour to face a looming recession and a likely election defeat without her.
Page 6: Cerebral palsy in newborn children in Australia has fallen by 40 per cent in a generation, putting us among the lowest rates in the world, new research shows.
Page 13: AGL Energy’s new chief executive Damien Nicks expects a “bumpy road” as the nation’s biggest coal generator pivots to renewables and plans to hold talks with major shareholders including Mike Cannon-Brookes to update them on how it will execute its green strategy.
Page 14: Alcoa’s West Australian operations were forced to rely on diesel generators after outages at the state’s domestic gas plants caused a power crisis earlier this month – with the global alumina giant’s Kwinana refinery still operating at only 70 per cent capacity.
The West Australian
Page 3: WA companies are among some of the nation’s biggest firms offering staff the option to work on January 26 and take a different day off as public sentiment about Australia Day shifts.
Page 4: The head of prestigious boys’ school Christ Church Grammar is calling for the abolition of unconditional early offers to university, blaming them for students slacking off in their final months of Year 12.
Page 22: A sweeping review into the McGowan Government’s handling of the COVID pandemic is expected to report publicly by the middle of the year after a trio of prominent West Australians were appointed to helm the probe.
Business: A Perth business owner is hoping a pick-up in immigration will further alleviate Australia’s chronic skills crunch, a challenge he says has been an uphill battle for two years.
Shares in embattled tech firm Nuix have rallied after it forecast an earnings upgrade for the first half of fiscal 2023.
Genesis Global Capital is laying the groundwork for a bankruptcy filing as soon as this week, according to people with knowledge of the situation.
Jewellery retailer Michael Hill had record sales over the first half of the 2023 financial year as consumers splashed out on rings, earrings and necklaces.
