Morning Headlines

Gas giant warns against budget tax changes 

The head of one of the nation’s largest LNG companies says foreign investors are now questioning whether Australia is a safe investment destination amid a changing regulatory environment, and has urged Labor not to ramp up taxes on gas producers in the May federal budget. The Aus 

Hastie lashes out at WA’s McGowan 

Liberal MP Andrew Hastie has called populist West Australian leader Mark McGowan ‘‘a prison guard looking for work’’ after the premier was caught out bagging the federal member during an official trip to China. The Fin 

Chalmers to push broad RBA revamp 

Treasurer Jim Chalmers will impose a sweeping overhaul of the Reserve Bank of Australia including creating two RBA boards – one that sets interest rates and another that oversees the central bank’s governance. The Fin 

CBH staff under one roof 

Grain juggernaut CBH Group has unveiled plans to buy a 60-bedroom hotel in Geraldton to secure housing for staff and contractors amid one of the toughest housing markets in WA history. The West 

Scentre gets serious, issues breach notes to David Jones 

The stoush between Anchorage Capital Partners and Scentre Group, the operator of local Westfield shopping centres, appears to be escalating after the latter issued at least eight formal notices of lease breach to the private equity group’s newly acquired David Jones department store chain. The Fin 

Sole traders squeezed by high interest rates and loan refusals 

Australia is hurtling towards a consumer recession with half of the 1.5 million self-employed workers reporting a plunge in turnover over three months and 50 per cent of sole traders seeking loans being turned down by banks. The Aus 

Wesfarmers launches $167m bid for Silk Laser 

Perth-based conglomerate Wesfarmers has launched a $167m buyout proposal for Silk Laser Australia. The Aus 

GPs in for post-pandemic budget boost 

Every GP practice across WA will be able to get a grant of up to $50,000 from the Federal Government to invest in their business after the pandemic. The West 

MinRes takes to water 

Mineral Resources has launched the first of five transhippers for its $3 billion Onslow Iron project, which will allow the transfer of iron ore on to offshore capesize carriers. The West 

The Australian Financial Review 

Page 1: Treasurer Jim Chalmers will impose a sweeping overhaul of the Reserve Bank of Australia including creating two RBA boards – one that sets interest rates and another that oversees the central bank’s governance. 

Page 2: Victorian Premier Daniel Andrews says an ‘‘educational’’ Independent Broad-based Anti-corruption Commission report found no corruption in his government despite the inquiry concluding that staff pressured health department officials to award a $1.2 million contract to a union. 

Page 3: NSW risks losing its remaining AAA credit ratings unless it takes drastic action to rein in its debt and rising expenses, departmental officials have warned Daniel Mookhey as he softens the ground for a tough state budget in September. 

The cost of running a self-managed super fund will rise because of new government rules that will increase the tax paid on high-balance accounts, industry groups say, suggesting the changes are ‘‘dangerous’’ and ‘‘unfair’’. 

The National Disability Insurance Scheme watchdog is investigating housing providers for allegedly robbing participants of their right to choose their in-home care providers and loading them with extra support services they have not fully agreed to. 

Page 5: The Albanese government has modelled proposals to help single parents struggling with the cost of living, raising expectations there will be some form of increased assistance in the May 9 budget. 

Page 6: Liberal MP Andrew Hastie has called populist West Australian leader Mark McGowan ‘‘a prison guard looking for work’’ after the premier was caught out bagging the federal member during an official trip to China. 

Page 8: New advice from the Department of Finance allows for the trialling of government advertising campaigns on TikTok even after the Chinese-owned platform has been banned on government-issued devices. 

Page 9: Changes to tax laws proposed by Labor will stifle growth among start-ups seeking to obtain debt funding for growth, experts have warned. 

Page 14: One of AMP’s institutional shareholders has called for more capital to be returned and warned costs are still too high, as the troubled wealth giant reported a $2 billion increase in funds under management. 

Page 15: Woodside Energy CEO Meg O’Neill says the proposed $30 billion Browse LNG project in Western Australia has become a burning issue for Japanese customers very keen to see the huge gas resource developed but worried about mounting regulatory hurdles along the way. 

Page 16: The stoush between Anchorage Capital Partners and Scentre Group, the operator of local Westfield shopping centres, appears to be escalating after the latter issued at least eight formal notices of lease breach to the private equity group’s newly acquired David Jones department store chain. 

Page 17: Australia’s top rare earths producer, Lynas, says most ‘‘critical minerals’’ projects will be too small to sustain their own railways, ports and power generation assets, so governments should stoke the sector by building multi-user infrastructure. 

The Australian 

Page 1: Reserve Bank interest rate decisions that affect millions of mortgage holders will be handed to a second board of experts, as part of an overhaul of the central bank that recognises a lack of technical skills has contributed to a string of policy mistakes over recent years. 

Page 3 Patients using diabetes drug Ozempic for weight loss are paying up to $600 per pen, or $1800 for a three-pack, amid a global shortage which has led local suppliers to give special approvals to import limited stock from Europe at massive costs. 

Page 4: The head of one of the nation’s largest LNG companies says foreign investors are now questioning whether Australia is a safe investment destination amid a changing regulatory environment, and has urged Labor not to ramp up taxes on gas producers in the May federal budget. 

Australia is hurtling towards a consumer recession with half of the 1.5 million self-employed workers reporting a plunge in turnover over three months and 50 per cent of sole traders seeking loans being turned down by banks. 

Page 5: There is a growing expectation among welfare groups that the federal government will move in the budget to support single mothers by increasing eligibility limits for the Parenting Payment and boosting commonwealth rent assistance. 

Page 7: Scientists from around the world have joined thousands of tourists in descending on the remote WA town of Exmouth ahead of Thursday’s total solar eclipse.  

Page 14: Perth-based conglomerate Wesfarmers has launched a $167m buyout proposal for Silk Laser Australia. 

Page 15: Shoppers facing cost-of-living pressures including higher mortgage or rental bills are increasingly favouring heavily discounted groceries and promotional items, with snacking in particular trading strongly as consumers look for affordable treats, according to supermarkets boss Fred Harrison. 

Page 16: Ousted former Ten Sixty Four boss Ryan Welker plans to return for another attempt to remove the board of the troubled gold miner, as the bitter brawl over its future continues. 

The West Australian 

Page 3: Australia will adopt stricter standards for car pollution as part of a new Federal plan to boost electric vehicle sales and slash transport emissions. 

Page 6: WA taxpayers will stump up an extra $32.2 million to cover cost blowouts for the WACA ground facelift. 

Page 8: Mark McGowan has announced a high-level international meeting linked to the so-called “Asian Davos” will be coming to Perth this year, focusing on renewable energy. 

Page 9: Every GP practice across WA will be able to get a grant of up to $50,000 from the Federal Government to invest in their business after the pandemic. 

Business: Netflix has posted mixed financial results and says it is pushing back its broad rollout of its password-sharing crackdown. 

Atlassian is seeking to claim a bigger piece of the tech market by banking on artificial intelligence to boost global users of its software platforms. 

Australia’s competition regulator has granted the renewal of a key co-operation deal between Qantas and its Jetstar ventures in Japan and Asia. 

Grain juggernaut CBH Group has unveiled plans to buy a 60-bedroom hotel in Geraldton to secure housing for staff and contractors amid one of the toughest housing markets in WA history. 

Mineral Resources has launched the first of five transhippers for its $3 billion Onslow Iron project, which will allow the transfer of iron ore on to offshore capesize carriers.