Households coping well, says Bullock
Reserve Bank of Australia governor Michele Bullock says household finances are holding up despite the ‘‘political noise’’ around 13 interest rate rises, but warns it is ‘‘very uncertain’’ inflation will return to target in the next two years. The Fin
Brookfield floats relisting Origin after just five years
Canada’s Brookfield has told potential co-investors it could bring Origin Energy back to the stock exchange in as little as five years. The Fin
Victoria triples tax on vacant properties
The tax rate on houses left empty in Victoria will rise from 1 per cent of the capital improved value to 3 per cent, meaning the new tax bill on a median-priced home, which is now about $934,000, could increase by $9340 to more than $28,000 a year. The Fin
Minister puts DP World in dock over port cyber hack fail
Home Affairs Minister Clare O’Neil has lashed stevedore DP World for failing to patch its tech systems despite public warnings, leading to the hack that forced it to shut down of 40 per cent of the country’s port capacity. The Fin
Watchdog on notice for Japan tax attack
Western Australia’s corruption watchdog has been criticised over its failure to correct a suggestion that a controversial trade commissioner to Japan may have engaged in tax evasion. The Aus
NDIS providers lose despite $35bn taxpayer aid
More than 60 per cent of registered NDIS providers may be operating at a loss, despite $35bn in public money pumped into the scheme last financial year. The Aus
Penthouse has Cott the lot
Yet another property price record is about to be smashed in Perth with a penthouse in Cottesloe expected to sell for nearly $16 million. The West
Reports of selfie-obsessed teens out of focus
Aussies aged 20 to 40 years old take more selfies than teens and older Australians, a new study has found. The West
The Australian Financial Review
Page 4: The Albanese government has agreed to almost 100 amendments to its shakeup of workplace laws, including surprise new union powers over pay and conditions that employers attacked as ‘‘deeply concerning’’.
Page 4: Major retailers are at the forefront of a push to lift workers’ paid leave to five weeks a year in a bid to attract long-term staff, as the industry union lobbies for fewer work hours in response to rising productivity and automation.
Page 6: Under-reporting of carbon emissions is rife among the country’s largest oil, gas and coal producers, and Labor’s signature climate policy cannot be considered credible until they are measured in a way that can be relied upon, a former competition regulator says.
Page 8: Treasury’s proposal to force companies to prove planned mergers will not harm competition risks killing good deals and is ‘‘an unwarranted interference in commercial activity’’, legal experts warn.
Page 8: The Greens will fight the government attempting to use a crackdown on consultants as a Trojan horse for changes to the petroleum resources rent tax, which is designed to swell the budget bottom line by $2.4 billion.
Page 12: Flexible working from home arrangements could fray workplace connectivity and may pose a threat to productivity, says Kate Beattie, chief financial officer of pubs group and alcohol retailer Endeavour Group.
Page 18: Australia’s plan to break China’s stranglehold on global supply of rare earths could get a boost, with New York-listed miner Tronox considering investment in a Western Australian processing facility.
Page 19: One of the world’s biggest lithium mines has been unable to process ore for the past four days after a fire at an Australian processing plant run by billionaire Chris Ellison’s Mineral Resources.
Page 19: National Australia Bank will co-brand loans for electric vehicles with Plenti and refer customers wanting finance to buy solar panels and batteries for their homes to the ASX-listed fintech.
Page 22: The national medical board has fined a Wesfarmers-backed ‘‘instant’’ telehealth start-up for unlawfully advertising prescription-only medications on its popular website.
Page 28: Shares rebounded yesterday, buoyed by gains in real estate and gold miners, while the Australian dollarclimbed to a four-month high on expectations that interest rates will stay higher than in other countries.
Page 29: Lithium extended its horror price run yesterday as analysts said a flood of new supply and cooling demand for electric vehicles has turned the share-market’s biggest investment boom to dust in 2023.
Page 31: Lendlease’s European operations will increasingly shift from developing big urban projects to instead buying buildings that can get a green overhaul or be converted from office to residential, as part of the company’s global strategy overhaul.
Page 33: The Commonwealth Bank of Australia is taking on Macquarie in the growing market for rental payment services, rolling out its Smart Real Estate Payments platform to give it access to tenants and landlords in the $49 billion-a-year sector.
Page 34: Chartered Accountants ANZ has ruled that PwC Australia will have to pay almost $100,000 and provide regular reports on its reform process over the tax leaks scandal.
Page 34: KPMG has frozen the salaries of 12,000 workers across the UK as big four consultancy firms continue to grapple with the sharp slowdown in the deals market.
Page 8: An Australian start-up company is poised to revolutionise the minerals exploration industry with a small device for precisely measuring gravity that is so sensitive it can detect even small ore bodies at greater depths than any other instruments in use.
Page 13: New and “extreme” Foreign Investment Review Board requirements targeting tax leaks by overseas investors are adding material friction to an already sluggish M&A environment, according to a top corporate lawyer.
Page 13: One of Australia’s largest LNG export sites faces backlogs after a loaded vessel lost power and became stuck at the Australia Pacific LNG facility on Curtis Island in Queensland, Origin Energy has warned.
Page 13: Australians have raced for Black Friday deals, powering a likely record of $6.36bn in sales for the relatively new but increasingly important retail event, with retailers offering bigger discounts than last year to encourage shoppers to fill their baskets.
Page 13: Just two large-scale renewable energy generation projects secured final investment commitments during the three months to September 30, data from the Clean Energy Council shows.
Page 15: Call centres are set for a shakeup as AI and chat bots replace lower-level staff, according to visiting British executive Kate Field.
Page 15: Qantas has faced little competition since Virgin Australia entered voluntary administration in 2020, according to Assistant Treasurer Andrew Leigh, who says revamped competition laws will see lower prices and cost of living relief for households across a range of industries.
Page 16: Australia’s largest telco has been fined $306,360 for failing to provide details correctly to a public database used by emergency services to locate people in the event of a natural disaster.
Page 19: Surging electricity prices have helped push the annual cost of a comfortable retirement towards $72,000 for a couple and $51,000 for a single, new figures show.
Page 19: Rival law firm seeking to lead class actions against Qantas over its handling of Covid-19 travel credits will argue in the Federal Court next month why the other should be knocked out of the race.
The West Australian
Page 22: Gas giant Santos made multiple representations to the Government claiming a bolder safeguards mechanism to reduce emissions threatened the viability of its multibillion-dollar Barossa gas project, now in legal limbo.
Page 22: NRW Holdings has lost a director on the eve of its annual general meeting, with the abrupt resignation of Peter Johnston amid pushback from some shareholders.
Page 22: Shares in Murchison precious metal miner Westgold Resources have leapt after its board signed off on a growth project that will extend the life its Big Bell mine to 16 years.
Page 23: Further industrial action could be on the cards after 72 electricians were locked out of BAE Systems’ Henderson operations on Tuesday following six months of unsuccessful negotiations lobbying for higher pay.
Page 24: Fremantle Port workers have potentially been compromised by the theft of personal information during a cyberattack on stevedore DP World that curtailed Australia’s maritime trade.
Page 24: Sports tourism, as it’s called, is one of the fastest-growing sectors in the travel industry, according to the United Nations World Tourism Organisation.
Page 24: Gina Rinehart’s Atlas Iron has been recognised for its commitment to prioritising the health and safety of its people after being awarded the WELL Health-Safety rating.
Page 33: The oil and gas industry is being unjustly vilified ahead of a pivotal United Nations conference on the climate crisis later this week, the Organisation of Petroleum Exporting Countries has said, pushing back against accusations that the industry is not doing enough to reduce carbon emissions.
Page 34: Perth-based explorer Equinox Resources has fortuitously staked its claim to a vast tract of rare earths-rich ground in Brazil, amid a rush for the elements in the South American country involving West Australian mining big wigs Gina Rinehart and Tolga Kumova.
Page 36: Nicheliving founder Ronnie Michel-Elhaj has hit back at rumours the company is in financial trouble, following recent revelations Perth’s biggest medium-density developer is under investigation by the Fair Work Ombudsman.
Page 37: One of Scarborough’s most recognisable apartment buildings may need to be retrospectively fitted with fire safety features after two building surveyors were fined over a height assessment at Norup + Wilson’s Beach Shack.