Morning Headlines

$250m project to build 130 new electric buses 

Mark McGowan has unveiled new plans to turn WA’s public transport system green by expanding the electric bus fleet — at a cost of almost $2 million a vehicle. The West 

Another record as WA resources deliver $246b 

WA’s booming resources sector shows no signs of slowing, with new figures revealing sales hit a record $246 billion in 2022 as demand for gas and battery metals offset lower iron ore prices. The West 

Billions for local missile production 

The Albanese government will spend billions of dollars to urgently build factories for the local production of American-designed missiles, as part of the Defence Force’s biggest shake-up in decades, to deter conflict with a rapidly militarising China. The Fin 

Reject Shop accused of wage theft 

The Reject Shop is facing a class action for allegedly shortchanging staff millions of dollars in what is the first in a wave of litigation against ASX-listed retailers over underpayments. The Fin 

Passport renewal through myGov on the way 

Australians will soon be able to renew their passports online through myGov as the government prepares legislation to enable statutory declarations and deeds to be executed digitally in a uniform manner across the country. The Fin 

Albanese spending ‘drives up inflation’ 

Anthony Albanese’s spending on election promises and other key programs has soared above $100bn, Coalition analysis says in blaming Labor for “driving higher inflation and increasing mortgage costs around Australia”. The Aus 

Gas giants on edge as price limits loom 

Energy producers are on edge over fears Labor may lock in a long-term price intervention to ensure adequate supplies of affordable domestic gas, with the Albanese government confirming its controversial action will address a lack of competition and power imbalances in the market. The Aus 

IPO future is positive but fears will persist 

The global market for initial public offerings is showing signs of life as a rebound in the stock market has emboldened companies to test investor appetite for new listings, particularly in Asia. But a full-fledged recovery looks distant. The West 

New survey to tackle sexual harassment 

The McGowan Government is rolling out a new survey to better understand the experiences of mining workers as part of its response to stamp out sexual misconduct in the industry. The West 
 

The Australian Financial Review 

Page 1: The Albanese government will spend billions of dollars to urgently build factories for the local production of American-designed missiles, as part of the Defence Force’s biggest shake-up in decades, to deter conflict with a rapidly militarising China. 

Labor wants to extend its controversial price cap on east coast gas producers but faces pressure to dilute its heavy-handed ‘‘reasonable pricing’’ rules, amid warnings of a deteriorating investment climate that will freeze new supply. 

Page 6: The Reject Shop is facing a class action for allegedly shortchanging staff millions of dollars in what is the first in a wave of litigation against ASX-listed retailers over underpayments. 

Page 9: Australians will soon be able to renew their passports online through myGov as the government prepares legislation to enable statutory declarations and deeds to be executed digitally in a uniform manner across the country. 

Page 11: The architect of Australia’s news bargaining code, which has moved more than $200 million from Google and Facebook to publishers of journalism, says artificial intelligence models such as ChatGPT should similarly be forced to pay for access to content. 

Page 12: Car makers are making major investments in Indonesia in the global race to secure supplies of key minerals used in EV batteries, as South-East Asia’s largest economy steps up protectionist measures to lock in manufacturers. 

Page 14: Tradies and people with postgraduate degrees are the most satisfied with their jobs at the age of 25, and also earn the most money, new research has found. 

Page 15: Former chairman of the corporate watchdog, Greg Medcraft, is pushing for the introduction of a Canadian-style mortgage bond market that he says will boost lending competition in Australia, resuming his long-running war against the big banks which enjoy a funding advantage over smaller lenders. 

Page 16: TPG Capital has formally pulled its takeover offer for InvoCare almost a month after the country’s largest listed funeral company said the private equity group’s $1.8 billion buyout proposal was too low. 

The Australian 

Page 1: Peter Dutton has warned corporate Australia to stop “being played for fools by the Labor Party” and accused business leaders of chasing popularity by signing up to social causes even if they don’t believe in them. 

Page 4: Anthony Albanese’s spending on election promises and other key programs has soared above $100bn, Coalition analysis says in blaming Labor for “driving higher inflation and increasing mortgage costs around Australia”. 

WA Premier Mark McGowan says he never called for a national cabinet meeting to be held in China, instead clarifying that he wanted a repeat of Tony Abbott’s 2014 delegation to the nation. 

Page 5: A “world-first” app to help shift workers get more and better sleep has been developed by Monash University researchers, with an initial trial finding workers slept an average 29 minutes longer each night. 

Page 6: The Albanese government is worse than the Morrison government in withholding information from parliament, with ministers regularly using bogus “public interest immunity” claims to keep documents secret, new research reveals. 

Page 13: Energy producers are on edge over fears Labor may lock in a long-term price intervention to ensure adequate supplies of affordable domestic gas, with the Albanese government confirming its controversial action will address a lack of competition and power imbalances in the market. 

Page 16: Global food giant Nestle has returned to sales growth in Australia thanks to price hikes and the end of pandemic lockdowns, which helped lift consumption of its products. 

The West Australian 

Page 3: The State Opposition is calling for a moratorium on power disconnections, with new figures showing thousands of West Australians are having their power turned off. 

Page 8: Mark McGowan has unveiled new plans to turn WA’s public transport system green by expanding the electric bus fleet — at a cost of almost $2 million a vehicle. 

Page 9: Finance Minister Katy Gallagher has given the strongest indication yet that taxes on gas companies will go up this year as the Government looks to deal with mounting pressures on the Budget. 

Business: The global market for initial public offerings is showing signs of life as a rebound in the stock market has emboldened companies to test investor appetite for new listings, particularly in Asia. But a full-fledged recovery looks distant. 

WA’s booming resources sector shows no signs of slowing, with new figures revealing sales hit a record $246 billion in 2022 as demand for gas and battery metals offset lower iron ore prices. 

Borrowers will be nervously watching the results this week of some of the most anticipated economic data in years in the hope that inflation is losing pace, as widely predicted. 

The Chilean Government’s announcement of a new lithium model is giving the nation’s biggest producer some hard choices and its shareholders a reason to sell. 

The McGowan Government is rolling out a new survey to better understand the experiences of mining workers as part of its response to stamp out sexual misconduct in the industry.