Morning Headlines

PM unveils $5b big tech spend

Anthony Albanese will announce a $5 billion investment from Microsoft to bolster Australian cyber-security, cloud computing and artificial intelligence capabilities as the prime minister uses a trip to the US to get the AUKUS nuclear submarine pact back on track. The Fin

Biden calls on Israel to delay Gaza ground war

President Joe Biden has asked Israel to delay its invasion of Gaza to buy more time for hostage releases and as the US moved to secure its own military personnel in the region amid further signs of a widening conflict. The Fin

Virgin ground crews set to strike over pay deal

Virgin Australia ground staff could walk off the job as talks over pay and conditions stall and the Transport Workers Union accuses the airline of leaving baggage handlers in ‘‘pay poverty’’. The Fin

Contractors to be excluded from core public service work

Federal agencies must set targets to reduce reliance on contractors and consultants under changes that formally ban the use of external hires for core work and leadership. The Fin

High price of premiers’ debt wishes

Big-spending premiers are damaging efforts to curb inflation, with new research from EY revealing that the states for the first time are set to borrow more than the commonwealth at nearly $100bn this financial year. The Aus

Watchdog warns super funds over conflict of interest

The financial services watchdog has warned super funds they face serious penalties for breaching conflict-of-interest regulations after Wayne Swan’s Cbus committed $500m to the government’s housing policy despite holding concerns about its design. The Aus

Djokovic set to return to Perth for the United Cup in December

Novak Djokovic will make his long-awaited return to Perth after more than a decade when he leads Serbia in the United Cup at RAC Arena in December. The West

The Australian Financial Review

Page 6: An 18-year-old diary entry from a former Wright Prospecting executive has cast doubt over a billionaire family’s claim to the ownership and lucrative royalties flowing from one of Gina Rinehart’s Pilbara mines.

Page 8: Australia’s biggest super funds are tightening the screws on companies with poor track records on issues such as decent work conditions, secure contracts and sexual harassment, warning they will vote with their feet at annual meetings if boards and executives fail to respond to their engagement.

Page 8: Charitable giving could increase by as much as $22 billion a year by 2060 if Australians could leave part of their super to charity in the same way they make bequests to children and spouses, new analysis published today shows.

Page 10: Households and businesses are unlikely to receive any relief from high electricity prices until July, despite a big fall in wholesale power prices in the past 12 months.

Page 12: US Secretary of State Antony Blinken and Defence Secretary Lloyd Austin said on Sunday (Monday AEDT) that the United States expected the Israel-Hamas war to escalate, and the Washington was prepared to respond if American personnel or armed forces were targeted.

Page 13: Deal fever swept the Australian lithium sector yesterday, with Chilean giant Socieded Quimica Y Minera set to play a central role in two deals.

Page 17: Australian fuel giant Viva Energy’s operating and shipping costs will be higher thanks to challenges linked to prolonged maintenance at its troubled flagship Victorian refiner.

Page 18: Australian graphite stocks surged after China announced export controls restricting supply of one of the key battery minerals required for electric vehicles, opening a new frontier in a trade war with the US and its allied nations.

Page 27: The Australian dollar gold price set a record high of $3150 an ounce yesterday as investors bought the precious metal to hedge against the risk of an expanding war in the Middle East.

Page 27: Mining stocks are on track for the third consecutive month of losses, the longest losing streak since 2021 as persistent worries about China’s economy weigh on the performance of iron ore, copper and coal producers.

Page 29: Big construction companies, fighting a federal government commitment to protect payments for subcontractors, say their industry suffers relatively fewer insolvencies than others, and should be treated no differently from other sectors of the economy.

The Australian

Page 4: Australia is developing plans to mitigate the threat of a cyber attack on the country’s rooftop solar network, amid fears an assault could cripple the country’s energy system.

Page 4: Retailers have warned Labor’s proposed industrial relations changes could result in higher grocery prices and job losses through the closure of businesses unable to cope with the cost and complexity of complying with the new laws.

Page 5: An Australian study has discov-red a method for harvesting trace uranium from seawater, providing a path to renewable nuclear fuel with a lessened environmental impact.

Page 15: An overwhelming majority of Australians are now seeking out cheaper brands as the cost-of-living crunch sees many also walking away from values such as sustainability.

Page 15: Qantas is making changes to its frequent flyer program, adding 6000 reward seats for the European summer peak, with new business and economy re- wards seats available on every Qantas flight to London and Rome from June to August 2024.

Page 16: Adelaide-based Economical Energy is developing its Vertically Integrated Potential Energy Reservoir(VIPER), which stores energy by hauling weight.

Page 20: Australia’s biggest health insurer, Medibank, will trial a four-day working week with no loss of pay for the next six months, igniting one of the biggest changes to office work.

The West Australian

Page 18: Ramsay Health Care has cut staff at three key WA hospitals as workers claim the redundancies will lead to a litany of issues.

Page 34: Market darling Azure Minerals has gone into a trading halt on the back of a potential takeover, less than two weeks after major shareholder Mark Creasy topped up his stake.

Page 34: Wildcat Resources shares have surged on high-grade drill results and Chris Ellison buy-in speculation, with the company’s boss aiming to be a kingmaker in the lithium-rich Pilbara.

Page 35: Chevron has agreed to buy Hess in a deal worth $US53 billion ($84b), the latest major consolidation in the US oil sector.

Page 36: Diversified miner South32 admits macroeconomic conditions continue to create headwinds for many of its commodities but says it is sticking to full-year production guidance as it focuses on cost controls.