New recruit widens Qantas CEO field
Qantas has appointed former Air New Zealand executive Cam Wallace to lead its international business, adding a wild card to the race to replace chief executive Alan Joyce after his expected retirement this year. The Fin
‘Solving the wrong problem’: experts reject cyber strategy
Cybersecurity experts say a government plan to let national security agencies commandeer companies’ IT systems following a cyberattack would harm organisations’ ability to recover quickly and do nothing to stop the rising problems posed by hackers. The Fin
Super switch to class war
The head of Industry Super Australia, Greg Combet, says billions of dollars in revenue from clamping down on superannuation tax concessions for wealthy Australians could be reinvested in the system to help people with far less retirement savings, including women and those on low incomes. The Aus
Fitch upbeat on MinRes
A restructure of the joint venture between Chris Ellison’s Mineral Resources and US group Albemarle, plus investment in Chinese lithium assets, will help cut the WA company’s risk, according to global ratings agency Fitch. The West
Lending buffer likely to stay at 3pc: APRA
The prudential regulator has cited the likelihood of the Reserve Bank continuing to raise interest rates – and risks from high household debt – as two reasons why it will not loosen lending rules, rebuffing suggestions from some lenders to make it easier for them to write loans. The Fin
Carbon offsets ‘billions’ warning
Anthony Albanese’s key climate policy could punch a multi-billion dollar hole in the federal budget, as lower and upper house crossbenchers prepare to hijack Labor’s proposed safeguard mechanism reforms when parliament returns next week. The Aus
Bunnings eyes chunk of $10b pet sales
In its largest category expansion since introducing kitchens nearly two decades ago, Wesfarmers-owned hardware giant Bunnings will launch a specialty pet-care department offering items ranging from food to toys and bowls for cats, dogs and birds. The Fin
Businesses dive into ChatGPT
Australian CEOs have revealed programs under way to incorporate generative artificial intelligence, through ChatGPT, into working practices, with marketing work, computer coding and snappy last-minute presentations already passing the test at some big-name companies. The Fin
No need for a windfall tax: Woodside boss
Woodside Energy CEO Meg O’Neill has hit out at suggestions Australia should introduce a windfall resources tax to curb super profits at oil and gas companies, saying the existing tax system is working as it should. The Aus
Investor backlash has APM stunned
APM has been stunned by an investor backlash against its first-half profit that sent the employment and disability service provider’s shares plunging 14.5 per cent to record lows. The West
The Australian Financial Review
Page 1: Former energy tsar Kerry Schott has criticised state governments for ‘‘demonising’’ gas, especially Victoria, saying the fuel will be crucial to shift the electricity grid from coal to renewable energy, as part of the net zero transition.
Qantas has appointed former Air New Zealand executive Cam Wallace to lead its international business, adding a wild card to the race to replace chief executive Alan Joyce after his expected retirement this year.
Page 3: The Albanese government wants to implement a tax cap on high-value superannuation funds before the next election, believing that the need for revenue outweighs the risk of being accused of breaking promises.
Page 7: The private sector wages bill is growing at its fastest rate since 2007, and economists say the latest set of business indicators show the Australian economy remains overheated despite nine consecutive interest rate rises.
Page 8: Cybersecurity experts say a government plan to let national security agencies commandeer companies’ IT systems following a cyberattack would harm organisations’ ability to recover quickly and do nothing to stop the rising problems posed by hackers.
Page 11: The prudential regulator has cited the likelihood of the Reserve Bank continuing to raise interest rates – and risks from high household debt – as two reasons why it will not loosen lending rules, rebuffing suggestions from some lenders to make it easier for them to write loans.
Page 13: Lynas Rare Earths has ruled out turning to China for relief if Malaysia sticks to a processing ban that threatens to disrupt supply of the strategically important critical minerals and has put the South-East Asian nation at odds with near neighbour Australia.
Page 14: In its largest category expansion since introducing kitchens nearly two decades ago, Wesfarmers-owned hardware giant Bunnings will launch a specialty pet-care department offering items ranging from food to toys and bowls for cats, dogs and birds.
Page 17: Downer EDI has been blasted by Allan Gray, one of its biggest investors, for being ‘‘inept’’ and not rolling more heads after the services group issued another profit warning that caused its stock to plunge 24 per cent yesterday.
Page 18: Australian CEOs have revealed programs under way to incorporate generative artificial intelligence, through ChatGPT, into working practices, with marketing work, computer coding and snappy last-minute presentations already passing the test at some big-name companies.
The Australian
Page 1: The head of Industry Super Australia, Greg Combet, says billions of dollars in revenue from clamping down on superannuation tax concessions for wealthy Australians could be reinvested in the system to help people with far less retirement savings, including women and those on low incomes.
Australia’s Chief of Air Force has flagged an urgent push to acquire large numbers of low-cost killer drones to give the RAAF greater “mass” to take on well-armed adversaries, warning the nation may have to fight a war in coming years “with what we’ve got”.
Page 2: The US Energy Department has concluded the Covid pandemic most likely arose from a laboratory leak, according to a classified intelligence report recently provided to the White House and key members of congress.
Page 4: Anthony Albanese’s key climate policy could punch a multi-billion-dollar hole in the federal budget, as lower and upper house crossbenchers prepare to hijack Labor’s proposed safeguard mechanism reforms when parliament returns next week.
Page 15: Woodside Energy CEO Meg O’Neill has hit out at suggestions Australia should introduce a windfall resources tax to curb super profits at oil and gas companies, saying the existing tax system is working as it should.
Page 16: Shares in telco TPG have climbed as the company lifted revenue and earnings for the 2022 financial year, buoyed by a return of international visitors to Australia and a $950m sale of its passive mobile tower and rooftop infrastructure.
The West Australian
Page 4: Alterations to King Edward Memorial Hospital over the course of decades have left parts of the ageing building dangerously vulnerable to fire - including the neonatal intensive care unit that looks after some of WA's most fragile patients.
Page 7: The State Government is set to announce new transport safety laws aimed at stopping young children being forgotten on daycare buses.
Page 8: One of Australia’s most powerful intelligence agencies would be given Big Brother powers to take over the IT systems of companies targeted by hackers under reforms proposed after the Optus and Medibank data breaches.
A proposed $600 million fund to support big industrial polluters through the Albanese Government’s signature climate action plan might not be enough to keep them competitive, the peak oil and gas lobby has warned.
Business: APM has been stunned by an investor backlash against its first-half profit that sent the employment and disability service provider’s shares plunging 14.5 per cent to record lows.
A doubling in complaints led to a dozen workers being sacked from Woodside Energy sites last year for misconduct, including sexual harassment and bullying.
The chief executive of BWX has stepped down as the Andrew Forrest-backed skincare retailer revealed a $100 million loss for the first half of financial year 2023.
A restructure of the joint venture between Chris Ellison’s Mineral Resources and US group Albemarle, plus investment in Chinese lithium assets, will help cut the WA company’s risk, according to global ratings agency Fitch.
