Morning Headlines

AusSuper blasts ‘low-ball’ offer

AustralianSuper has blasted attempts by Brookfield to ‘‘buy more time’’ on its $18.7 billion bid for Origin Energy, describing an alternative deal as a ‘‘low ball offer’’ that would short-change investors in favour of a private equity consortium. The Fin

Labor told to fund three days of childcare for all

Anthony Albanese’s universal childcare promise could push an extra 20,700 people, mostly women, into the workforce, according to a Productivity Commission draft report, though at a cost to taxpayers of $120,000 a job. The Fin

Immigration isn’t adding to inflation, says Bullock

Record-breaking levels of immigration are not adding to inflation, says Reserve Bank governor Michele Bullock, who predicts overseas arrival numbers will soon return to normal. The Fin

Defence losing patience over Boeing drones

The army’s flagship program to buy new spy drones has blown out by tens of millions of dollars and is running two years late, fuelling the prospect the federal government will pursue US aerospace giant Boeing for damages. The Fin

Allies say it’s nuclear for take-off

Chris Bowen is facing a nuclear ambush at the UN climate change conference, with Labor’s renewables-only vision isolating Australia as an international outlier as the US and key allies charge ahead with zero-emissions nuclear reactor technologies. The Aus

Rinehart backs two-city Games

The mayors of the Gold Coast and Perth have proposed hosting a “coast-to- coast” 2026 Commonwealth Games – backed by the nation’s richest person – to “rescue Australia’s reputation” following the withdrawal of original host Victoria under Daniel Andrews. The Aus

Another Labor fail over immigration

A group of asylum seekers trekked through the treacherous Kimberley terrain for two days in 35C heat before arriving at a remote airport, after managing to land on the coast by boat — undetected by Australian authorities. The West

$400m white elephant is finally put to good use

The $400 million Bullsbrook quarantine centre — completed by the Commonwealth too late to play a role in the COVID pandemic — will finally be put to use housing West Australians forced to flee their homes in the face of the inferno raging in Perth’s north. The West

The Australian Financial Review

Page 5: The Albanese government has reached an in-principle pay deal with the major public sector union, after offering 180,000 public servants a bonus ranging from $500 to $1400.

Page 6: Australia and Indonesia have agreed to use their strengths in lithium and nickel to mutual advantage in the race to secure a share of the global electric vehicle supply chain.

Page 7: Competition chief Gina Cass-Gottlieb has warned that Treasury’s proposal to send any problematic mergersstraight to the Federal Court could result in the cost and time of deals blowing out.

Page 8: Industry and renewable energy proponents have backed the Albanese government’s expanded Capacity Investment Scheme to help Australia reach the 82 per cent renewable energy target by 2030, but questions remain on how it will work and the financial exposure for taxpayers.

Page 9: As signs emerge that more companies are preparing to lay off staff in the next 12 months, employees who spend most of their time working from home may succumb to ‘‘out of sight and out of mind’’, or be seen as less productive than those more often in the office.

Page 9: Harvey Norman will not extend its multimillion-dollar sponsorship of Super Rugby Pacific, but chief executive Katie Page brushed off suggestions the decision was related to the abrupt departure of Rugby Australia’s former chairman Hamish McLennan.

Page 11: ASX-listed shipbuilder Austal will become the federal government’s monopoly shipbuilder in Western Australia, guaranteeing it a pipeline of navy contracts for smaller warships as part of the rationalisation of Perth’s Henderson shipyard.

Page 11: PwC Australia will delay appointing new partners for the second time since the tax leaks scandal broke, from January until July next year, and candidates will have to submit a new business case to justify becoming part of the partnership.

Page 15: Optus chairman Paul O’Sullivan says the company’s next chief executive would benefit from having experience in the telecommunications industry as the country’s second-largest network searches for its next leader.

Page 15: Oroton, one of the oldest Australian luxury brands, has recorded double-digit sales growth for a second year and a doubling in profit, signalling the retailer is back on solid footing after years of turmoil.

Page 15: Major banks are secretly prying into customers’ spending – including the amount of petrol going into the family car – to identify those who are heading towards a home loan default well before they miss a repayment.

Page 17: AMP will fork out $100 million to exiting financial planners as part of a proposed settlement over its controversial adviser payout policy, after it lost a class action over the scheme in July.

Page 26: Oil and gas producers should be spending about half of their annual investment on clean energy projects by 2030 to be aligned with global climate goals, the International Energy Agency has said.

The Australian

Page 3: At least 10 homes have been lost as the first major destructive bushfire of the summer closed in on Perth’s northern suburban fringe.

Page 3: Climate activists accused the ABC of betraying them after Four Corners footage handed to police by the national broadcaster led to the arrest of three more protesters.

Page 4: Workplace law expert Andrew Stewart has endorsed a deal between Tony Burke and resource sector employersto exclude service contractors from Labor’s industrial relations bill, as West Australian Premier Roger Cook praised the federal government’s approach.

Page 5: The Albanese government is set to fall 200,000 short of its target to build 1.2 million homes by 2029, with analysis from the Housing Industry Association underlining an urgent need to 160,000 ease regulatory and tax burdens to drive more supply.

Page 5: Australia’s population will be nudging 40 million by 2071 based on mid-range estimates of the nation’s fertility and net overseas migration, the Australian Bu- reau of Statistics says.

Page 5: Labor’s key investment into readying the workforce for the clean energy transition will fall short unless it also increases the wages of apprentices, according to a powerful union.

Page 6: China says Australia’s live lobster trade is poised to resume in what appears to be an attempt by Beijing to focus on good news after being widely condemned for aggressive behaviour by the People’s Liberation Army Navy towards Australian personnel.

Page 19: New Qantas CEO Vanessa Hud- son has been accused of failing to live up to her promise to eliminate poor customer service, as flight cancellations continue on Australia’s most important business routes.

Page 19: Shares in furniture retailer Nick Scali fell 10 per cent on Thursday after it was disclosed its chief executive and major shareholder Anthony Scali had sold down more than $50m worth of shares he held in the business.

Page 20: Emerging gold play De Grey Mining says it is about to enter the superheated Pilbara lithium sector, with the company considering a spin-out of tenements in the heart of the region’s lithium belt. 

Page 20: British battery storage developer Pacific Green has unveiled plans for its first grid-scale battery in Australia as it looks to roll out a “multi-gigawatt” pipeline of stor- age facilities across the country.

Page 21: Australia’s banks have inked an alliance to crush scams, announcing an accord on Friday to share technology, introduce industry-wide changes to payments, and invest $100m to stop fast flowing financial crime.

Page 21: Santos has delayed its final investment decision on its Narrabri gas project until at least 2025.

Page 23: Ford is moving forward on construction of a battery plant in Michigan but at a reduced size, citing a weaker outlook for future electric-vehicle demand.

Page 25: Seniors seeking part-time work to help combat the cost-of-living crisis will be able to earn more and keep more of the age pension following changes to legislation.

The West Australian

Page 24: Luc Longley and wife, celebrity chef Anna Gare, are among a group of a dozen investors, mostly from WA, who bought the Denmark Hotel this month for $3.7 million.

Page 58: The upgraded Fitzroy River Bridge will open to all traffic on December 10 — less than a year after the previous structure was destroyed by a one-in-100-year flood triggered by ex-tropical cyclone Ellie in January.

Page 61: Wesfarmers boss Rob Scott has been recognised for his “sustained excellence” in leadership after being named WA Pinnacle Awards’ Business Leader of the Year.

Page 61: Unions have paused plans for industrial action on BHP’s Pilbara iron ore railways, suggesting that a peace deal could be close.

Page 62: Federal regulator AUSTRAC revealed yesterday that it had secured an enforceable undertaking from the State Government-owned business giving the Gold Corporation until April 2025 to sort out major compliance issues.

Page 62: Investors have been left waiting for the official outcome of the annual general meeting for onetime market darling AVZ Minerals after a trio of hopeful directors failed in their ousting campaign.

Page 62: The boss of the ASX’s most shorted company — Pilbara Minerals — says the volatile lithium price marketwill continue, while labelling those betting against the company as “very brave”.

Page 63: Chalice Mining’s managing director Alex Dorsch says market expectations were “clearly” not met, as the Tim Goyder backed explorer endures a near 80 per cent share price collapse this year.