Morning Headlines

No scrutiny of workplace laws

The Albanese government failed to consult its top productivity adviser over the effect of controversial workplace laws, including the right to disconnect, which businesses from Airtasker to Woodside warn unnecessarily complicate how people work. The Fin

WA’s GST deal to blow out to $50b

The cost blowout from a GST deal negotiated by the Turnbull government to shore up votes in Western Australia could rise from $39 billion over a decade to at least $50 billion, economists say, putting further pressure on the Productivity Commission to recommend the deal’s abolition. The Fin

FSC: Lift investor risk test to $5m

The Albanese government should restrict access to lucrative wholesale investments to individuals worth more than $5 million, the Financial Services Council says, slashing the share of the population able to access risky products like private equity. The Fin

Albanese slaps down Greens over ‘juvenile’ negative gearing demand

Anthony Albanese has shot down demands by the Greens that he pare back negative gearing and capital gains tax deductions in return for supporting a signature housing policy, saying the minor party is being juvenile and there will be no negotiation. The Fin

Businesses flee soaring energy prices

The increased cost of doing business in Victoria is leading to an exodus, with the state the only jurisdiction in the nation to experience a net loss of businesses last financial year, as industry figures warn unintended consequences of the Allan government’s gas policy could make the problem even worse in years to come. The Aus

BHP’s train drivers to strike

Train drivers at BHP’s iron ore division in Western Australia are threatening the sector’s first 24- hour strike in the Pilbara for 15 years. The Aus

‘Hammerbarn’ sparks dog eat dog approach

Australians have gone barking mad for Bunnings’ Bluey-themed makeover — with sold-out merchandise now fetching exorbitant prices online. The West

Judds caught up in a financial blue

West Coast Eagles and Carlton great Chris Judd is set to have his wings clipped to the tune of hundreds of thousands of dollars after a Belmont-based mining minnow Elmore Limited went belly up. The West

The Australian Financial Review

Page 4: The Environmental Defenders Office faces a federal government review after claims it coached witnesses and confected evidence in its case against Santos’ Barossa gas project.

Page 4: Federal Labor will tear up an Abbott-era Indigenous employment program and introduce a remote work scheme it says will create 3000 jobs over three years.

Page 9: Medibank’s landmark four-day work week trial has so far resulted in less stress for workers while maintaining the same productivity levels, senior HR executive Kylie Bishop has revealed.

Page 9: Australia’s business executives are lagging other rich countries in adopting technologies such as artificial intelligence and data analytics, and this is contributing to the economy’s productivity slowdown, Productivity Commission chairwoman Danielle Wood says.

Page 12: Domestic travel in China bounced back to pre-pandemic levels in the days leading up to the Lunar New Year holiday, according to government data, but the country’s economic slowdown is overshadowing celebrations as consumers spend less than before.

Page 12: Russian forces in occupied Ukraine are using Starlink terminals produced by Elon Musk’s SpaceX for satellite internet in what is beginning to look like their ‘‘systemic’’ application, Kyiv’s main military intelligence agency says.

Page 15: Beach Energy’s new chief executive, Brett Woods, has put exploration drilling in the Cooper Basin on ice and dropped a carbon capture project in a precursor to a big strategic review he expects will turn around performance at the underperforming oil and gas producer.

Page 16: Mortgage brokers have been a big disrupter to major banks for many years by encouraging home loan customers to find a better deal and switch. Now, a new breed of online broker is emerging, looking to flip established wisdom on its head.

Page 17: Australia’s importers of petrol and diesel should consider forging long-term supply deals with exporting countries, reflecting growing risks that consumers will be hit by price shocks as OPEC and its allies start to wield more control over the market for oil products.

Page 20: Liontown Resources chief executive Tony Ottaviano says the time for talk on a government bailout of the lithium and nickel sectors is over and tangible action is needed to save jobs and prevent more mine closures.

Page 27: Tech companies have axed 34,000 jobs this year as they rejig their workforces to invest in new areas such as generative artificial intelligence to power their next phase of growth.

Page 29: Bitcoin is flirting with the longest winning run since a year ago, amid steady inflows aided by the record-breaking debut of US exchange-traded funds linked to the largest cryptocurrency.

Page 29: The Australian dollar tumbled to its lowest level since May against the kiwi yesterday after ANZ economists tipped that the Reserve Bank of New Zealand would resume lifting rates this month due to persistent inflationary pressures.

The Australian

Page 6: West Australian Liberal senator Linda Reynolds has announced her retirement, saying there is “no perfect time to leave politics” but it’s “the right time for me”.

Page 15: ANZ has warned it needs up to $35bn to cover its funding costs this year as the banking major faces a demand for cash amid a hot mortgage market and the roll-off of billions of dollars of ultra-cheap pandemic funding.

Page 16: Aurizon’s bid to diversify its business through hauling retail goods across the country is off to a slow start, hit by the slowdown in consumer retail spending, but the company’s core coal business helped the company to a substantial boost in first-half earnings.

Page 16: Construction-related travel grew almost 90 per cent in 2023, driven by major transport, renewable energy and water infrastructure projects.

Page 17: Rivals Diamondback Energy and Endeavor Energy Resources are finalising a merger that would create an oil and gas behemoth worth more than $US50bn ($76.7bn), as higher oil prices and a rush to grab prime acreage fuel consolidation in the energy sector.

Page 17: China’s massive rollout of renewable energy is accelerating, its investments in the sector growing so large that international climate watchdogs now expect the country’s greenhouse gas emissions to peak years earlier than anticipated – possibly even this year.

Page 18: Creditors of the Australian arms of collapsed cryptocurrency exchange FTX are set to get all the money back by June, it can be revealed.

Page 18: Salaries in the Australian cybersecurity industry have risen 35 per cent on the back of major data breaches that have left tens of millions of people exposed online.

Page 18: Vietnam is increasingly rising up to meet the demand of Australian tech companies with hiring having grown 126 per cent over the past 12 months.

The West Australian

Page 3: Shoppers who assault retail workers will face tougher penalties, including up to seven years in jail, as part of new laws set to be introduced to State Parliament this week.

Page 4: Almost a quarter of people released from immigration detention after last year’s High Court ruling aren’t being monitored with ankle bracelets — and the Government is refusing to say why.

Page 11: More than 100 million people in the US watch the Super Bowl every year, with many as eager to see the half-time advertisements as the action on the field.

Page 35: Companies of all sizes are preparing for potentially difficult conversations with their staff about the most sensitive of topics — pay — ahead of the imminent release of gender pay gap data later this month.

Page 35: Thirty-eight days after 16,000 sheep and cattle left Australia, the livestock are finally being unloaded.

Page 36: West Africa-focused gold producer Perseus Mining has thrown another spanner in the works of OreCorp’s scrip and cash takeover deal with Canadian suitor Silvercorp.

Page 36: Glencore will sell its stake in nickel mines and a processing plant on the islands of New Caledonia following a dramatic slump in prices.