Morning Headlines

$2.4b gas tax rise must be last: APPEA 

The oil and gas sector has accepted the $2.4 billion increase to the petroleum resources rent tax over the next four years on the proviso it ends the pursuit of the industry for more revenue. The Fin 

Jim’s $14bn dose of relief 

Jim Chalmers says his centrepiece $14.6bn cost-of-living budget package will lower inflation, drive down price pressures and provide immediate relief, amid rising expectations the Albanese government will deliver a modest increase to JobSeeker payments for hundreds of thousands of unemployed Australians. The Aus 

Mineral Resources rules out work from home 

Mineral Resources chief executive Chris Ellison has “shut down” ideas of his staff working from home as he becomes the latest corporate heavyweight to declare an end to pandemic-era practices. The Aus 

Small businesses feel the heat in tight jobs market 

Small business is set to be included in electricity bill relief measures in tomorrow’s federal budget, as new research shows Australia’s tight jobs market has kept pressure on bosses to retain the best staff. 

Moneybags McGowan set to trigger GST brawl 

Western Australia’s latest multibillion-dollar budget surplus is expected to result in power bill relief for the state’s taxpayers and a reignition of the national debate around its share of the GST. The Aus  

Treasury Wine jobs at risk in restructure 

Treasury Wine Estates is stepping up a cost-cutting and restructuring push, centred mainly on its division selling commercial wines under $10 per bottle, as it braces for tougher economic times and repositions further towards the luxury segment. The Fin 

$1b gets UniSuper Vantage point in Europe 

Australian buyout firm Pacific Equity Partners should pop up in more core-plus infrastructure auctions this year, as it locks in $1.4 billion for its second secure assets fund with help from green-thumbed institutional investor CEFC. The Fin 

Extra guards in PCH wards 

Perth Children’s Hospital is seeking to bolster its security workforce by hiring on-call external guards, with an advertisement stating the aim was to “decrease violence and increase staff morale and retention”. The West 

China goes on a gold run 

China added to its gold reserves for a sixth straight month, extending a flurry of purchases as central banks expand their holdings of bullion amid escalating geopolitical and economic risks. The West 

The Australian Financial Review 

Page 1: The oil and gas sector has accepted the $2.4 billion increase to the petroleum resources rent tax over the next four years on the proviso it ends the pursuit of the industry for more revenue. 

Page 2: The Labor senator who helped expose PwC’s tax leaks scandal has called for a clean-out of all partners and staff ‘‘actively or passively’’ involved, and says until then the firm cannot be trusted by the government or corporate clients to keep confidential material secret. 

Page 7: Small business is set to be included in electricity bill relief measures in tomorrow’s federal budget, as new research shows Australia’s tight jobs market has kept pressure on bosses to retain the best staff. 

Page 8: The chief of Indonesia’s sovereign wealth fund says the US’ contentious Inflation Reduction Act is giving countries opportunities to feed into its supply chains in ways not possible before. 

Page 9: A lack of choice drove auction clearance rates to the highest level in more than a year at the weekend as the Reserve Bank’s unexpected move to lift interest rates to 3.85 per cent on Tuesday failed to dampen the recovery in the housing market. 

Page 14: Japanese-based multinational technology company NTT has been named Australia’s best university intern program for the second year in a row. 

Page 15: Treasury Wine Estates is stepping up a cost-cutting and restructuring push, centred mainly on its division selling commercial wines under $10 per bottle, as it braces for tougher economic times and repositions further towards the luxury segment. 

A suspended timeline for a final decision by the competition regulator on Woolworths’ acquisition of Petspiration Group has invited speculation that the supermarket giant may be running into trouble on its purchase, and forced to sell stores to win approval. 

Page 17: UniSuper hopes to capitalise on soaring demand for digital data after spending $1 billion to take a 5 per cent stake in Dusseldorf-headquartered telecommunications infrastructure group Vantage Towers. 

Page 18: Andrew Forrest says there’s a graveyard somewhere full of failed magnetite projects, but his will be different. 

The Australian 

Page 1: Jim Chalmers says his centrepiece $14.6bn cost-of-living budget package will lower inflation, drive down price pressures and provide immediate relief, amid rising expectations the Albanese government will deliver a modest increase to JobSeeker payments for hundreds of thousands of unemployed Australians. 

Page3: The UN is refusing to change a key document that claims Tasmania’s Aborigines are “extinct”, sparking a rebuke from the Australian and Tasmanian governments and outrage from Indigenous leaders. 

Page 6: Jim Chalmers is set to announce Australia’s first surplus in 15 years or a balanced budget on  

Tuesday night, with economists predicting the combination of more migrants, conservative commodity price estimates and higher employment has put the nation’s books back in black. 

Page 7: Western Australia’s latest multibillion-dollar budget surplus is expected to result in power bill relief for the state’s taxpayers and a reignition of the national debate around its share of the GST. 

Page 13: The Australian ethical and responsible exchange-traded fund sector is primed to swell fivefold to $50bn by late 2028 and may hit $100bn by the decade’s end, underpinned by broader adoption even as regulators clamp down on greenwashing. 

Mineral Resources chief executive Chris Ellison has “shut down” ideas of his staff working from home as he becomes the latest corporate heavyweight to declare an end to pandemic-era practices. 

Page 15: The most recent round of mining mergers and acquisitions is just the tip of the iceberg, according to former Sprott chief executive Peter Grosskopf, who says the sector will be reshaped over the next few years amid a potentially record-breaking spree of corporate activity. 

Page 20: Southern Cross Media Group chief executive Grant Blackley has led media companies for nearly two decades but he says his career is far from over, after announcing his exit last week. 

The West Australian 

Page 1: One of Australia’s leading energy analysts has described the Federal Government’s increase to offshore LNG taxes as an impost on WA “in order to fund the Eastern States”. 

Page 3: The amount of lost or forgotten money languishing in State Government coffers over the past five years has more than doubled to a staggering $150 million. 

Page 4: Finance Minister Katy Gallagher has vowed spending audits will continue, after announcing the Federal Government has found a further $17.8 billion of savings and money which can be re-prioritised in this week’s Budget. 

Page 7: Perth Children’s Hospital is seeking to bolster its security workforce by hiring on-call external guards, with an advertisement stating the aim was to “decrease violence and increase staff morale and retention”. 

Business: The Reserve Bank’s task of returning persistently high inflation back to target is about to become harder as government spending continues at a high level, economists say. 

China added to its gold reserves for a sixth straight month, extending a flurry of purchases as central banks expand their holdings of bullion amid escalating geopolitical and economic risks.