Morning Headlines

Bruised Labor back to basics

The government has ruled out any further pursuit of the Uluru Statement from the Heart and will switch its full focus back to the cost of living and national security, after the comprehensive defeat of the referendum for an Indigenous Voice to parliament. The Fin

Australians in Israel, Lebanon told to leave

The Albanese government has urged Australians in Lebanon to leave the country, and has also started using military and charter flights to evacuate citizens from Tel Aviv, as the inevitable showdown between Hamas and Israel makes the operation too risky for Qantas and other commercial carriers. The Fin

Uber warns of 85pc price rise under gig laws

Uber has warned it may have to increase average prices for rideshare and food delivery by up to 85 per cent, resulting in 140 million fewer trips for drivers and potentially forcing it to shut down the app in regional areas, if parliament passes the Albanese government’s laws to set minimum pay for the gig economy. The Fin

New regime to license digital asset exchanges

The federal government will require crypto exchanges to hold a financial services licence, issued by the corporate regulator, under a new regime bolstered with specific obligations to reduce risks for investors while also supporting the growth of the digital asset sector. The Fin

Cultural convention that breaks with convention

One of the biggest media conventions in the US, South By Southwest, is coming to Australia for the first time this week – it is designed to bring together leaders in the tech, music, screen, games and cultural industries to collaborate and talk in one space, with music performances and film premieres taking place between speeches from professionals in their fields. The Aus

Gas code endorsed despite market revolt

The federal Labor government’s centrepiece of gas intervention will have the desired effect of lowering prices, a Senate committee has concluded – rejecting opposition from industry giants such as Woodside Energy. The Aus

Gun limits are locked and loaded

Gun owners would be banned from possessing more than 10 firearms under proposed laws that would make WA the first jurisdiction in the country to impose a cap. The West

‘Heritage fail’ behind huge NO

A handful of WA regional towns polled as high as 90 per cent opposition to the Voice, with No campaigners linking the rejection to the State’s repealed Aboriginal Cultural Heritage Act. The West

The Australian Financial Review

Page 18: Australia’s online safety regulator is taking a tougher stance against global tech giants’ handling of child sexual exploitation material on their platforms, issuing Google with an official warning and fining Elon Musk’s X (formerly Twitter) $610,500.

Page 18: AFL chairman Richard Goyder will convene the AFL Commission today for the first time since flagging his intention to retire as Qantas chairman, and will reiterate his intention to stay on in the role for another two years.

Page 18: Australian companies are overwhelmingly failing to consider geopolitical, cybersecurity and regulatory risks in their supply chains, despite two big global conflicts and a slew of high-profile cyberattacks.

Page 19: Incoming New Zealand prime minister Christopher Luxon says he will draw from his corporate experience as he negotiates with the right-wing, libertarian party he will rely on to form government, after his National Party won nearly 40 per cent of the primary vote to end Labour’s run in Saturday’s general election.

Page 21: Ozempic, the wonder drug used to treat diabetes that has become a global phenomenon as a weight-loss treatment, is challenging the blue-chip status of some of the ASX’s best known companies as short sellers bet the blockbuster drug and its equivalents will wreak further havoc on market valuations.

Page 20: BHP directors have been accused of going soft on top executives over the ‘‘underpayment’’ of staff, with proxy adviser CGI Glass Lewis telling the board it expects more ‘‘consequences’’ for the error to be felt in next year’s pay.

Page 23: Fast-growing small and medium businesses requiring more capital to grow should consider partnering with a $540 million private equity-style fund backed by banks and the federal government, Australian Business Growth Fund chief executive Anthony Healy says.

Page 25: Fortescue billionaire Andrew Forrest’s US hydrogen project is on track to receive up to $US150 million ($240 million) in subsidies after the collective it belongs to progressed to a final round of funding negotiations with the Biden administration at the weekend.

Page 26: Equity markets were rattled by the escalating tension in the Middle East, with Israel’s anticipated ground invasion of Gaza and accompanying warnings from Iranian diplomats setting the stage for the ASX to slide and follow global shares into the red at the return of trading today.

Page 39: Rich Lister Hui Wing Mau, founder and majority owner of debt-laden Chinese property developer Shimao Group Holdings, has put a WA cattle station portfolio almost as big as Belgium on the market with an asking price of about $250 million.

The Australian

Page 19: Stuart Parry went from big ships to big batteries. The former naval officer, who founded Brisbane- based Energy Storage Industries five years ago, is now preparing to roll out shipping container-size iron-flow batteries for Queensland’s state-owned power giant Stanwell Corp to strengthen a power grid increasingly fuelled by renewables such as solar and wind.

Page 20: Lacklustre inflation and declining trade numbers in China have stoked concerns that the world’s second-largest economy is still on shaky footing, despite recent signs of stabilisation.

Page 24: Australia should incentivise the modernisation of the nation’s trucking fleet in order to support decarbonisation, while also boosting safety and productivity, peak bodies have urged.

Page 25: Autonomous trucks are being trialled on roads in Australia, as experts warn policy must keep pace with technology.

Page 27: Nine Entertainment’s radio arm has stripped 13 lucrative commercial deals held by hosts across its network in the past week as it continues to deal with the fallout engulfing its major stations.

The West Australian

Page 8: Corporate leaders including Wesfarmers chief executive Rob Scott, NAB boss Ross McEwan and BHP’s Australian president, Geraldine Slattery, said they would continue to advocate for better Indigenous outcomes.

Page 37: WA’s cash-strapped millennials have pumped the brakes on spending for another month as higher cost of living pressures weighs heavily on household savings.

Page 39: WA and Queensland are tipped to be the only States to splash more cash on presents this year than last, while those in NSW, South Australia and Victoria will trim their Christmas spending by between $38 and $56.

Page 39: The caravan retailing industry has already been on the Australian Competition and Consumer Commission’s watchlist after a report last year revealed long wait times for new builds and a range of inaccurate product depictions.

Page 40: Anyone tempted by online shopping at overseas and smaller retailers offering bargains heading into Christmas is at risk, says Australian Information Security Association chair Damien Manuel.