Morning Headlines

Risk aversion ‘crimps growth’: bank bosses

The chief executives of the country’s largest banks have warned that onerous responsible lending rules introduced after the global financial crisis are forcing customers to more expensive and riskier lenders. The Fin

Comyn calls for $120b ‘blunter’ overhaul of taxes

Commonwealth Bank of Australia chief executive Matt Comyn says income tax for workers earning less than $300,000 should be cut to 30 per cent, the GST increased and tech giants slapped with a levy as a key reform to revive economic growth. The Fin

Tough visa rules to ban countries

Foreigners would be banned from coming to Australia even as tourists if their home country refused to accept the return of failed asylum seekers, under sweeping new powers aimed at circumventing another High Court ruling curtailing immigration detention. The Fin

Dutton kills Nats-Greens grocery deal

Peter Dutton has committed the Coalition to develop laws that could extend to forcibly breaking up Coles and Wool-worths, after he stepped in to stop the Nationals working with the Greens to rein in supermarket power. The Fin

Soft Left’s rush to hard love

Non-citizens who exhaust all avenues to stay in Australia face a mandatory one-year term in jail if they fail to go home and thousands of people from Iran, Iraq and South Sudan could be banned from entering the country amid a snap Labor bid to help regain control of migration law. The Aus

Party veterans launch Woodside rebellion

Labor great Kim Beazley, two former Labor premiers and two former Labor ministers have urged Environment Minister Tanya Plibersek to block Woodside Energy’s plans to extend its North West Shelf project. The Aus

It’s ‘oh, what a backflip’ for Albo

The nation’s top-selling car brand is backing Prime Minister Anthony Albanese’s contentious clean car plan after his Labor Government softened targets for utes and delayed the start of a new penalties system. The West

Unknown number of cancelled visa crims

The Federal Government is under fire for being unable to say how many hardened foreign criminals with cancelled visas are locked up in Australian jails. The West

The Australian Financial Review

Page 3: Universities will be banned from offering places to Year 12 students before September, over concerns that competition to lock in early enrolments is causing kids to not try as hard and get worse results than they otherwise would.

Page 4: Climate Change Minister Chris Bowen has challenged the Greens to back a revised vehicle efficiency scheme that would give car makers more flexibility on models of heavy SUVs and 4x4s.

Page 5: The federal government has brushed aside calls by the states and territories to delay changes to disability funding and will forge ahead with legislation to try to bring the runaway National Disability Insurance Scheme under control.

Page 7: Unions’ push for a 5 per cent increase in minimum rates for 2.9 million workers will ensure interest rates remain higher for longer and restrict hiring, businesses warned.

Page 12: Westpac will spend billions of dollars over the next four years to cure more than a decade of underinvestment in its bloated and slow technology stack, bringing its brands onto a single platform and decommissioning 120 individual systems under its new Unite strategy.

Page 12: Canva has made its largest acquisition to date, likely spending more than $1 billion to buy professional design software company Serif to compete directly with Adobe as its prepares a long run at going public.

Page 15: Exploration spending in the resources sector in the last three months of 2023 was the best December quarter in 10 years, as prospecting for clean energy metals remained robust despite market jitters over lower EV demand from China.

Page 16: The two most powerful proxy advisers have backed the re-election of Santos chairman Keith Spence in the face of a campaign by an activist shareholder group to have investors vote against him on the grounds of ‘‘poor performance and strategic failings”.

Page 17: Six months after launching its retail media business, upmarket department store David Jones is attracting new advertising customers such as Jaguar Land Rover, Destination Canada and Regent Cruises as it aims to boost revenue by at least $35 million per year.

The Australian

Page 5: The Greens say they’re willing to horse-trade over religious discrimination laws but concede their only interest is in protecting queer and transgender students, after Anthony Albanese left open the option of renegotiating a deal with the minor party.

Page 6: Almost 900,000 Australian children under 15, one in six, are being socially and economically isolated due to poverty and other factors, a Canberra University study finds.

Page 13: BlackRock’s Larry Fink, one of the world’s most influential investors, has said the switch is on to “energy pragmatism”, which recognises that energy security is just as important in the move to net zero.

Page 13: Billionaire Andrew Forrest says Jim Chalmers is “completely correct” in urging Australia to have more ambition about its long-term growth targets.

Page 16: Australian companies are facing “significant challenges” meeting climate change targets, with many behind their Asia-Pacific counterparts, according to a study by consulting firm Kearney.

Page 17: Adam Neumann, the former chief executive and co-founder of WeWork, submitted an offer to buy the bankrupt co-working company for more than $763 million, sources say.

The West Australian

Page 9: A petition launched by former Shire of Broome president and Kimberley businessman Harold Tracey on March 20 against the closure of Horizontal Falls to adventure boating has already received about 5000 signatures.

Page 16: Ricky Hirsch employed a bunch of new staff late last year for a new venture to raise more funds, using a property development that Fulfil The Dream investors had already sunk their money into.

Page 20: Aspiring home buyers are potentially being locked out of the housing market by regulations introduced in response to the damning financial services royal commission, banking leaders have warned.

Page 21: Large employers will have to make concrete progress on gender equality targets if they want to stay in the running for future government work, Workplace Gender Equality Agency boss says.

Page 22: A former senior WA police officer has been appointed to head the State’s Gaming and Wagering Commission.

Page 23: Chris Ellison’s Mineral Resources has won the battle for control of lithium miner Alita Resources but now has to fight a $200 million war with the Australian Taxation Office.

Page 24: Boeing chief executive Dave Calhoun will step down at the end of 2024 in part of a broad management shake-up for the embattled aerospace giant.

Page 24: Plans to extend the life of Kalgoorlie’s Super Pit have been opened for comment ahead of a decision by the State’s environmental regulator.