Morning Headlines

Why Liontown’s Aussie lithium is hot property 

Liontown Resources has highlighted its status as owner of one of the biggest lithium assets in Australia, unencumbered by the Chinese baggage it expects will cruel the ability of some producers to capture the full benefits of US and European incentive schemes. The Fin 

Woodside sees upside in giant Browse project 

Woodside Energy chief executive Meg O’Neill remains “cautiously optimistic” a deal can be struck to allow gas from the giant Browse project to be processed through the North West Shelf LNG plant amid a broader shake-up of the joint venture controlling the offshore field.  

Euroz Hartleys look to WA targets for growth 

Nearly three years after buying its major Perth rival, Euroz Hartleys is casting around for other opportunities in wealth management and stockbroking to broaden its exposure to WA’s resources economy. The West 

PEP checks out Alinta’s Pilbara power auction 

Less than three years after it took remote power business Zenith Energy private in a consortium bid, Pacific Equity Partners has joined the line of tyre-kickers at Alinta Energy’s up-for-sale Pilbara power business. The Fin 

Pay rises bust aged care budget 

The 15 per cent wage rise granted to aged care workers will cost the federal budget $11.3 billion over the four-year forward estimates, taking the total increase for the industry to at least $30 billion over the same period. The Fin 

True inflation hit on families 

Working families are being squeezed by a near double-digit jump in living costs, well above official inflation, with a spike in mortgage charges, insurance premiums and food prices leading to the biggest plunge in household purchasing power this century. The Aus 

Directors oppose ban on cyber ransom payments 

Leading company directors have rejected the Labor government’s proposal to impose a ban on cyber ransom payments, saying that in the case of life or death, or faced with the threat of catastrophic damage to infrastructure, such outlays may be justified. The Fin 

Qantas faces narrow path on jets, returns 

Qantas faces a narrow path to fund the purchase of hundreds of new planes without cutting into shareholder returns unless earnings remain well above their pre-pandemic levels, analysts and shareholders say. The Fin 

South32 eyeing $3bn copper buy 

Australian listed copper miner South32 is believed to be lining up to take a look at the $US2bn ($3bn) Khoemacau copper mine in Botswana, as investment bank Credit Suisse fires the starting gun on the asset’s sale process. The Aus 

The Australian Financial Review 

Page 1: The 15 per cent wage rise granted to aged care workers will cost the federal budget $11.3 billion over the four-year forward estimates, taking the total increase for the industry to at least $30 billion over the same period. 

Page 3: A McDonald’s franchisee has agreed to pay $275,000 to the fast-food union for conducting an unlawful five-year campaign to de-unionise its workforce in admissions that could represent a world first for the fast-food giant. 

Leading company directors have rejected the Labor government’s proposal to impose a ban on cyber ransom payments, saying that in the case of life or death, or faced with the threat of catastrophic damage to infrastructure, such outlays may be justified. 

Page 4: Pay rises in private sector agreements recorded their biggest jump in 15 years at the end of last year, with the average wage increase accelerating to 3.5 per cent, just as the Reserve Bank warns that ‘‘briskly’’ rising labour costs pose an inflation risk that might prompt it to lift interest rates further. 

Page 13: Qantas faces a narrow path to fund the purchase of hundreds of new planes without cutting into shareholder returns unless earnings remain well above their pre-pandemic levels, analysts and shareholders say. 

Page 14: Less than three years after it took remote power business Zenith Energy private in a consortium bid, Pacific Equity Partners has joined the line of tyre-kickers at Alinta Energy’s up-for-sale Pilbara power business. 

Page 16: Battery chemicals giant Albemarle will double the size of its existing Western Australia lithium hydroxide plant as it aims to push its downstream processing investment in the state’s southwest corner to more than $4 billion. 

Page 17: Liontown Resources has highlighted its status as owner of one of the biggest lithium assets in Australia, unencumbered by the Chinese baggage it expects will cruel the ability of some producers to capture the full benefits of US and European incentive schemes. 

Page 19: A trader who used stock forum HotCopper to pump and dump about 20 penny stocks using 13 trading accounts has been sentenced to 21/2 years jail, but released immediately on a five-year good behaviour bond. 

The Australian 

Page 1: More than 250,000 frontline aged care staff – including nurses, carers, cooks and home care workers – will receive 15 per cent pay rises from July 1 under a mammoth $11.3bn package in next Tuesday’s federal budget. 

Working families are being squeezed by a near double-digit jump in living costs, well above official inflation, with a spike in mortgage charges, insurance premiums and food prices leading to the biggest plunge in household purchasing power this century. 

Page 2: Cyber criminals are increasingly targeting cloud environments and vulnerabilities in commonly used software to inflict maximum damage on companies with minimal effort, with almost two-thirds of cyber attacks driven by financial motivations, a report has found. 

Page 4: Governments have been warned landlords facing the prospect of reforms aimed at strengthening renters’ rights are not “property barons” and that just over 70 per cent of investment property owners only had a single rental and most were middle income earners. 

A quarter of small businesses owners are not confident they can endure another rate hike after being hit by growing costs and a reduction in foot traffic and consumer spending, with the government facing new calls to assist the sector in the May 9 budget. 

Page 5: The consumer watchdog has received a “steady increase” in complaints from participants of the nation’s flagship disability scheme, as mark-ups on “NDIS approved” equipment push prices more than 10 times what the products are worth on the open market. 

Page 7: Short-staffed schools are offering $50,000 cash bonuses and recruitment kickbacks to hire teachers, as they fend off poaching from rivals interstate and overseas. 

Page 8: As Tasmanians celebrated achieving a decades-long goal – a team in the AFL – their Premier pleaded with those angry at the likely $1bn price tag to consider the long-term economic benefits. 

Page 16: Australian listed copper miner South32 is believed to be lining up to take a look at the $US2bn ($3bn) Khoemacau copper mine in Botswana, as investment bank Credit Suisse fires the starting gun on the asset’s sale process. 

Mineral Resources boss Chris Ellison has ruled out a potential buyout attempt on lithium miner Liontown Resources or a spin-off of its own lithium operation. 

Quadrant Private Equity is believed to be cooling on the prospect of buying cinema chain Hoyts after it was initially understood to have bid for the business. 

Page 19: Woodside Energy chief executive Meg O’Neill remains “cautiously optimistic” a deal can be struck to allow gas from the giant Browse project to be processed through the North West Shelf LNG plant amid a broader shake-up of the joint venture controlling the offshore field. 

Page 24: Tech billionaire Mike CannonBrookes is using his philanthropic venture to recruit and upskill 300 workers into climate tech start-ups over the next 18 months, partnering with accelerator Startmate to launch a Climate Tech Fellowship program. 

The West Australian 

Page 4: The Reserve Bank is refusing to reveal the cost of its ritzy Perth dinner for local business and political leaders held just hours after it inflicted more mortgage rate pain on already struggling borrowers. 

Western Power wants to hike street lighting charges an astronomical 44 per cent from the middle of the year in a move that has blindsided councils, who warn they will have little choice but to pass on the cost to ratepayers. 

Page 10: The Albanese Government has hosed down the prospect of setting up a new civilian agency to respond to natural disasters and free up the Australian Defence Force to focus on its main job of protecting the nation. 

Page 19: Whether they are keeping up with family photos on Instagram or wishing a friend happy birthday on Facebook, a new study suggests staying active online can help seniors stave off dementia. 

Business: South West plant capacity to double US chemicals giant Albemarle will claim the mantle of the largest lithium producer in Australia with an investment of up to $US1.5 billion ($2.25b) to double the capacity of its Kemerton plant in the State’s South West. 

JB Hi-Fi says supply chain bottlenecks have eased from pandemic levels and claims domestic suppliers now have too much stock. 

Nearly three years after buying its major Perth rival, Euroz Hartleys is casting around for other opportunities in wealth management and stockbroking to broaden its exposure to WA’s resources economy. 

WA tractor sales surged nearly 50 per cent above the five-year average to reach an eye-watering $343 million in the 2021-22 financial year, with positive indications strong demand for agricultural machinery could continue. 

Increased migration could have “unanticipated” and “pervasive” effects on the nation’s housing market, the Reserve Bank of Australia’s head of economic analysis says.