Morning Headlines
Pressure on Bullock as inflation lifts
A spike in fuel prices and cost pressures in labour-intensive services will press new Reserve Bank governor Michele Bullock to consider raising interest rates early in her term and hold borrowing costs higher for longer. The Fin
Goyder defies calls to quit Qantas
Qantas chairman Richard Goyder has pushed back against calls from politicians and the airline’s pilots for him to resign, and insists he has the backing of shareholders and is the ‘‘right person’’ for the job. The Fin
How confidential tax information was shared at PwC
At least six former PwC Australia partners including international tax chief Peter Collins were involved in leaking confidential information from Treasury, the Tax Office and Board of Taxation to colleagues and clients, legal reports prepared for the big four firm have concluded. The Fin
Childcare sector pay rise order a bargaining first
Early childhood educators have won the right to bargain for pay rises of up to 25 per cent across multiple employers in the first order of its kind delivered under Labor’s new laws, triggering a path to force the government to the negotiating table. The Fin
Albanese took our advice, says Qantas
Qantas has revealed that the Albanese government followed its advice to stop the competition watchdog’s regular airline monitoring reports, as new airline chief executive Vanessa Hudson admitted executives did consider paying back more than $1bn in Jobkeeper. The Aus
Big privacy hit for small business
The biggest privacy law shake-up in decades will consider removing exemptions for up to 2.5 million small businesses and giving individuals powers to demand the deletion of personal records and internet search results. The Aus
Freo give heave-ho to gas critics
The Fremantle Dockers have signed Woodside Energy to a new multimillion-dollar sponsorship deal, defying climate activists who had campaigned for the AFL club to ditch the oil and gas giant. The West
Dan’s tourism blitz for WA
Homegrown Formula One superstar Daniel Ricciardo is the face of a new global tourism campaign selling WA to the world. The West
The Australian Financial Review
Page 5: Anthony Albanese has defended his decision to exempt state government decisions from the inquiry into the nation’s handling of the COVID-19 pandemic, saying it was up to each jurisdiction whether they wanted to review their respective actions.
Page 8: It cost veteran truck driver Frank Black close to $2500 to fill three-quarters of his tank this week, saying the cost of running a truck was almost completely outweighing any profit as petrol prices surged by 9.1 per cent in August, with many in the industry weighing up their future as they struggle to pass on costs.
Page 13: The chairman of Crown Resorts says US investment giant Blackstone underestimated the amount of work that would be required to transform the casino giant’s culture and systems following years of scandal, but is confident it is on track to regain its licences early next year.
Page 18: A court hearing in Perth has cleared the way for Chris Ellison’s Mineral Resources to acquire the Bald Hill lithium mine from administrators as part of consolidation in the sector in Western Australia.
Page 23: Bond traders’ conviction that the Reserve Bank will have to lift the cash rate again remains intact after the first uptick in Australia’s headline inflation figures in four months.
Page 25: Developers say the record amount of crane activity is likely short-lived, as strong demand from state-backed infrastructure projects takes resources away from apartment building.
Page 32: Fund manager and accommodation developer Pro-invest Group is planning a big move into build-to-rent apartments as it looks to further diversify its business, which owns and manages one of the largest hotel portfolios in the country.
The Australian
Page 3: A Generation Z attitude of “working to live, not living to work” is causing legal firms to haemorrhage junior lawyers who decide they are not cut out for the pro- fession, a leading legal researcher says, as low pay, long hours and scarce benefits contribute to pushing them out the door.
Page 3: Workers at Australia’s largest poultry producer, Inghams, have secured pay rises totalling 13.1 per cent over three years under a compromise agreement that guarantees chicken supplies and delivers wage increases of about $100 a week for some of the country’s lowest-paid employees.
Page 3: Covid-19 was the third-leading cause of death in Australia in 2022, the first time an infectious disease was one of the top five leading causes in more than 50 years.
Page 17: Wealth manager AMP has appealed a class action ruling that invalidates controversial cuts to the valuation of the businesses of its financial advisers under changes to its Buyer of Last Resort policy in 2019.
Page 17: Unpaid care work, such as caring for children or the elderly, can have a significant negative impact on those who provide it, particularly women, who may miss out on extra income, savings, and experience mental health costs, according to new research.
Page 20: An Australian start-up which can predict the lifespan of an energy network by running it through digital simulations including natural disasters has raised another $15.25m.
The West Australian
Page 5: The first stab-proof vests and body-worn cameras are being rolled out to ambulance crews across WA to protect frontline workers from “disgraceful” acts of violence and aggression while trying to save lives.
Page 19: The massive looming investment into WA’s power grids has sparked an east coast business into buying a Cockburn contractor.
Page 19: Copper in London traded at the widest contango since at least 1994 as inventories expand and demand concerns persist amid a slowdown in global manufacturing.
Page 20: Fortescue has cut several Northern Territory-based staff working on its proposed green hydrogen hub south of Darwin but argues it’s not a signal of changes to its ambitious clean energy plans.
Page 45: Taxpayers are facing a near wipeout on the more than $80 million lent by the Federal Government to the now-collapsed WA potash play Kalium Lakes.
Page 46: The retail and hospitality sectors will carry a $1.9 billion load from the State Government’s bans on plastics, new data shows.
