Labor to force states to pay for bigger share of projects
Labor will push states to pay for at least half of new road and rail projects and will only back work where its contribution is at least $250 million under an overhaul of how the federal government funds major infrastructure. The Fin
Investors ‘taking a breather’ from dealmaking
Rising interest rates are damaging investment sentiment, curtailing the number of infrastructure assets auctions, leading some investors to say that they are ‘‘taking a breather’’ from dealmaking. The Fin
AusSuper digs in over Origin deal
An eleventh-hour effort by Origin Energy’s two North American suitors to overcome the stubborn opposition of Origin’s biggest shareholder, AustralianSuper, to their $20 billion takeover by bringing it into the bid consortium has foundered just hours after the offer was made. The Fin
Wharfies to strike despite cyberattack
The wharfies union has pledged to go ahead with rolling stoppages at DP World docks this week and a 24-hour strike on Friday even as the port operator struggles to come back online after a cyberattack left 30,000 shipping containers stranded across the country. The Fin
Home loans ‘now only for the rich’
The head of one of the major banks has warned the dream of home ownership “has become the preserve of the rich”, as former treasurer Peter Costello said runaway migration had worsened the housing affordability crisis and was driving rents higher. The Aus
Civil action on table for Lib MPs
Bill Shorten says former Coalition ministers who oversaw the illegal Robodebt scheme could face a civil case against them, as Labor said it had agreed in principle to all 56 recommendations made by its royal commission into the automated debt recovery program. The Aus
Nurses get public vote of approval
An audacious plan to parachute nurses into State Parliament has the backing of more than 40 per cent of West Australians, according to a new poll. The West
Gas legislation clears hurdle after stalling
Major gas companies — including Santos — are breathing a sigh of relief after the Coalition finally agreed to back the Albanese Government’s legislation enabling captured carbon to be shipped across international maritime borders. The West
The Australian Financial Review
Page 3: Australian Securities and Investments Commission chairman Joe Longo has warned businesses must close ‘‘alarming’’ gaps in their cybersecurity defences, while experts said it would be ‘‘very costly’’ for telcos to comply with new cyber laws foisted on them after Optus’ network outage last week.
Page 3: More than half of major Australian businesses have been hit with ransom demands by cybercriminals, who are trading off their reputations for deleting stolen data and even providing tips on how to avoid future attacks.
Page 4: Labor has voted against motions to immediately consider spun-off ‘‘urgent’’ parts of its industrial relationsshake-up, with Workplace Relations Minister Tony Burke slamming the move as a stunt and a Coalition plan to delay its main bill.
Page 6: Optus’ network crashed last Wednesday because its routers received incorrect settings from overseas as part of a software upgrade, causing a cascading failure.
Page 6: The Transport Workers Union has ratcheted up pressure on Virgin Australia over pay agreements as the airline resumes plans to re-list, with another group of workers raising the prospect of strikes before Christmas.
Page 8: The Reserve Bank of Australia has warned of a prolonged and ‘‘bumpy’’ campaign to reduce inflation, as it grapples with strong domestic price pressures in services and petrol price shocks.
Page 11: Hotel operator Hilton Australasia is asking job applicants to ditch their CVs in favour of video applications on social media app TikTok, as the rise of artificial intelligence tools such as ChatGPT raises questions about the value of traditional applications.
Page 12: Danish giant Orsted has warned of a ‘‘boom and bust’’ cycle of wind energy projects in Australia due to high inflation, rising interest rates and soaring global supply costs, as the Albanese government seeks to boost offshore wind generation capacity.
Page 17: Battery technology play Neometals is in a trading halt after spruiking a lithium discovery it says has geological characteristics similar to world-class West Australian projects Mount Marion, Kathleen Valley and Mount Ida.
Page 18: ANZ’s new digital bank, known as ANZ Plus, began offering home loans last week to a very limited number of customers, but CEO Shayne Elliott says in a few years the platform could be the dominant distribution channel for its mortgages and result in lower costs.
Page 20: Professional services giant Deloitte stands accused of double-dealing by angry Honda car dealers, who say it used confidential information gleaned from auditing their franchises to help the Japanese carmaker reduce payments to them following a major restructure to online car sales.
Page 25: The worst may be over for Australian cattle and sheep producers as meat prices bounce after welcomed rain in part of the country to the great relief of farmers who saw prices plummet this year due to a supply glut.
Page 2: Two-thirds of voters polled across 15 marginal seats believe big business has too much power, and support employees and labour hire workers being paid the same if doing the same job, new ACTU- commissioned polling has found.
Page 2: Consultation has been opened on policy options to address carbon leakage, including the prospect of an Australian carbon border tariff to help protect heavy industries, such as steel and cement.
Page 9: Award-winning West Australian tourism operator Troy Thomas used a crowded industrial property in the Kimberley as a helicopter landing site – without council permission or anyone noticing – for at least four years before it became the scene of a fatal crash that killed him and a 12-year-old girl.
Page 17: Mining stocks are poised to rise amid tight supply for key commodities such as copper, nickel and uranium that will be needed for the decarbonisation of the global economy.
Page 17: The painful increase in interest rates that is hurting homeowners has pushed banks’ cash profits to a record high of $32.5bn, leading to higher dividends for investors.
Page 17: The Kerry Stokes-chaired Seven West Media will probably be entitled to install a director from its camp on the ARN Media board after raiding the stock at the weekend and amassing a stake of up to 19.9 per cent.
Page 18: Andrew Forrest’s Fortescue Energy plans to spend $US5bn ($7.8bn) on building a green hydrogen plant in Brazil, according to Brazilian President Luiz Inacio Lula da Silva.
Page 21: Mining firms will need to dig up gigantic amounts of new copper over the next several years to supply the transition to renewables. But demand is slumping right now from manufacturers and builders who use the metal in everything from electrical wire to roofing.
Page 24: Australians paid $32bn in superannuation fees over the past year, according to research from Rain- maker Information’s Superannuation Benchmarking Report.
The West Australian
Page 7: A major economic report revealed that Perth recorded an equal second-worst fall in rental affordability for a major Australian city — plunging 10 per cent — while the State’s regional areas fell 8 per cent.
Page 34: New traditional owner opponents against Santos’ $5.8 billion Barossa offshore gas project in the Northern Territory have joined the legal battle, as a Federal Court proceeding started that could be a key test case over underwater Aboriginal cultural heritage approvals.
Page 35: A container terminal at Fremantle Port disrupted by a cyberattack recommenced “limited operations” on Monday as operator DP World Australia warned the fallout from the malicious incident could “continue for some time”.
Page 36: Delta Lithium is raising $70.2 million in fresh equity but will hold back on a development decision at its flagship Mt Ida project in the Goldfields until late 2024.