Coalition turns radar on aviation
Qantas could be threatened with the forced sell-off of its low-cost Jetstar brand under a proposal from the Coalition that it says will lower airfares, but the move is also likely to increase tensions between Canberra and the business community. The Fin
Home-building outlook worsens
Labor’s hopes of building 1.2 million new homes in five years are fading, with the construction industry warning that the target put in place to address Australia’s chronic housing shortage has fallen further out of reach in the past six months. The Fin
PM to miners: You can compete globally
Prime Minister Anthony Albanese will stare down the nation’s top mining executives and tell them their companies can still compete globally without reducing wages or lowering safety standards. The Fin
APRA warned ANZ several times
The prudential regulator repeatedly warned ANZ executives that they had not dealt with major cultural issues and had no clear plan to manage risks – failures that ultimately led it to force the bank to set aside hundreds of millions of dollars as a safety net this year. The Fin
Chalmers signals more spending to come
Nearly two-thirds of the jobs created under the Albanese government are being funded by the taxpayer, with Jim Chalmers claiming there is “not any evidence” government spending is a major driver of inflation as he paves the way for putting more money into aged care, childcare, higher education and health ahead of the election. The Aus
China asset for bite of Aussie apples
The Australian can reveal behind-the-scenes- negotiations between Australian and Chinese officials that began after Prime Minister Anthony Albanese’s trip to China last November have reached an agreement for Australian apple farmers to get market access to the world’s second-biggest economy. The Aus
Foetal heart monitors ban after tragic events
Foetal heart rate monitors will be banned for home use in Australia after they were linked to three stillbirths and one early neonatal death, with health authorities saying they offer false reassurance to pregnant women. The Aus
Full-time employment more appealing to women
A new report from the Bankwest Curtin Economics Centre and Workplace Gender Equality Agency identified a decline in the share of women engaged in part-time work — down 3.2 percentage points to 29.7 per cent over the past three years. The West
Shock and ore for trade as China hits the brakes
Western Australia’s merchandise exports to the China in July were at their lowest monthly level since late 2021, with just under $9 billion shipped. The West
Fortescue’s commitment to the UN is the priority
Fortescue’s green ambitions have taken a hit in recent months but the company is sticking to a pledge to ditch carbon offsets. The West
The Australian Financial Review
Page 2: The mid-year budget update will include millions of dollars to plug blowouts in Australia’s $125 billion road and rail pipeline, as Treasurer Jim Chalmers warns of severe constraints amid falling iron ore and coal prices.
Page 3: The government push to cut $14 billion from the thriving international education sector while the three major export markets are being smashed by falling commodity prices is an almost wilful decision to push the economy into a recession, leading economists say.
Page 10: The federal government is seeking Australian Electoral Commission advice as it comes under pressure to invoke South Korean-like bans on AI fake images and videos during the election campaign.
Page 12: Western Australia won’t stop leveraging its political and economic power to lobby Canberra into watering down environmental protection reforms, as Premier Roger Cook warns the Albanese government against cutting a deal with the Greens to pass the controversial legislation.
Page 14: Supplies of crucial obstetric medicines are running short in Australia, putting the health of pregnant women at risk and highlighting systemic problems relating to access to treatment, according to a new report.
Page 22; The country’s largest companies have defied investor pressure to walk back environmental, social and governance commitments, and are increasingly talking about these issues on earnings calls in contrast with their peers in the United States.
Page 23: AGL Energy – the country’s biggest carbon emitter – has won a stellar environmental, social and governance rating from a powerful institutional investor adviser two years after it was ripped apart partly because of its performance on climate change.
Page 25: Australia’s sharemarket is set to tumble today after worse-than-expected hiring figures in the United States fanned concerns that the Federal Reserve may have not acted fast enough to avert a downturn in the world’s largest economy.
Page 31: The values of office towers across Australia’s CBDs have dropped by more than they did during the global financial crisis – down 22 per cent so far – and may yet have further to fall, according to MSCI.
The Australian
Page 4: Coalition backbenchers are raising concerns over how co-contributions for wealthy older Australians paying for aged care will be calculated under legislation Labor hopes to present in parliament this week, revealing there had been “little to no discussion” of the reforms in the partyroom.
Page 4: Australian ports are supporting $650bn in annual trade flows and 694,000 jobs with 31,102 vessels passing through the nation’s waterfront gateways each year moving more than 1.6 billion tonnes in trade volumes dominated by iron ore, coal and other resources.
Page 5: Tanya Pilbersek’s decision against the $1bn Blayney goldmine in NSW’s central west has raised hopes inside the campaign to slow or stall Woodside Energy’s multimillion-dollar gas projects on the rock-art rich Burrup using the same cultural heritage laws.
Page 7: The Australian Industry Group has broken with other peak business groups and backed Labor’s caps on international students, calling for universities to focus on education Australians to achieve “the main game” of lifting economic participation and productivity.
Page 15: Another international banking executive has emerged on the target list for Westpac’s board and its headhunting firm, as they step up a search for the bank’s next chief executive to replace Peter King.
Page 15: Major fashion brands owned by billionaire Solomon Lew have been hit by plunging sales and lower earnings due to an economic downturn, sparking a fresh challenge for new Myer boss Olivia Wirth as she weighs a buyout deal for the retail businesses.
Page 15: Two top sharemarket executives want shareholders to back a push to shake up the Australian Securities Exchange’s board, as the market operator faces regulatory court action over a $300m project to replace its ageing CHESS clearing and settlement system.
Page 17: AirTrunk boss Robin Khuda believes renewable energy projects and battery storage can power the artificial intelligence boom and electricity-hungry data centres, saying there is “significant opportunity” before advancing to nuclear energy.
Page 17: Global asset manager powerhouse UBS will look to roll out newer products into Australia as changing market conditions and demand for alternative asset classes see it pivot to being a strategic partner to clients.
Page 23: A major investor in ARN Media – the owner of FM stations including KIIS and Gold – said the company had failed to deliver decent investment returns, prompting the sale of its entire shareholdings last week.
The West Australian
Page 4: More than 44,000 Perth families have already claimed their free zoo tickets, as the Government seeks to draw a million people through the doors of the popular attraction each year.
Page 7: The share of WA homeowners falling months behind on mortgage repayments has jumped almost 50 per cent in 12 months, according to data that underscores just how badly the Reserve Bank’s 13 rate hikes have hurt households.
Page 8: Anthony Albanese will use a speech to mining leaders to warn the “world will go right past us” if the nation doesn’t seize its critical minerals opportunity, setting the stage for a parliamentary showdown on Labor’s Future Made in Australia agenda.
