No let-up in Labor’s splurge
Government subsidies for childcare, aged care and disability care have surged more than 20 per cent in the past year, but Labor has left the door open to more public spending before the next election despite economists warning that this is unsustainable. The Fin
Departing Shorten confident about NDIS
Bill Shorten has insisted the runaway National Disability Insurance Scheme will be on a financially sustainable trajectory by February, when he will retire from politics to take up the role of vice chancellor of the University of Canberra. The Fin
Farmers push back on climate report
Australia might need to convert an area the size of Belgium into forest to achieve net zero emissions by 2050, according to a Climate Change Authority report that has sparked fierce criticism from farmers, who say it would harm food production. The Fin
Major blue-collar union splits from the ACTU
The Communications, Electrical and Plumbing Union national council voted yesterday to break from the ACTU over anger at its leadership for not fighting the Albanese government’s legislation to force the CFMEU into administration, which it argues opens a path for governments to take over other unions. The Fin
RBA defends rate hikes
Reserve Bank governor Michele Bullock has kept rate hikes on the agenda, despite Jim Chalmers’s claim that they were “smashing the economy”, saying a failure to get on top of inflation would plunge the nation into recession. The Aus
Innovate or decline, hospitals warned
Private hospitals are facing becoming “legacy institutions” unless they are able to overcome significant barriers to innovation as the sector faces a viability crisis that threatens to further overwhelm the public system. The Aus
Howard: Greens must be last for all
Former prime minister John Howard is demanding both sides of politics put the Greens last and has vowed to denounce personally any Liberal division that cuts deals with Green candidates for local electoral gain. The Aus
Police admit they know too much about us
The sheer volume of data being collected by WA Police has become so overwhelming that the force is creating an independent ethics committee to govern its use. The West
Why Premier says he is ruling out retail changes
A push to extend Perth’s shopping hours is “anti-small business”, Roger Cook has declared. The West
Lithium price crash claims first WA victim
WA’s mining sector will be hit with more job losses as Arcadium Lithium reveals it will mothball its Mt Cattlin mine — the first WA domino to fall amid the battery metal’s price downturn — by the middle of next year. The West
The Australian Financial Review
Page 13: Australians will have a greater choice of mobile phone plans and faster data downloads after the competition regulator said TPG Telecom could share networks with Optus in regional areas.
Page 15: AirTrunk founder Robin Khuda has predicted his data centre business could become a $100 billion company under new owners Blackstone and Canadian pension giant CPP Investments after the business formally changed hands for $24 billion.
Page 15: Concerns over the future of Challenger’s relationship with Wall Street asset manager Apollo are behind a sharemarket rout that wiped more than $530 million from the Australian financial services company’s value, analysts say.
Page 16: Santos has hired former Newcrest and Woodside senior executive Sherry Duhe as its new chief financial officer, extending a period of turnover in its upper management as questions are asked about how long chief executive Kevin Gallagher will remain.
Page 17: Two weeks after it shocked Australian car share operators by pulling the pin on the product that let people rent out their cars, Uber has signed a partnership with US-based operator Turo, which will begin offering its cars through Uber’s app next year.
Page 17: Shares in Energy Resources of Australia collapsed yesterday after the Takeovers Panel confirmed two of the uranium miner’s shareholders are trying to delay an $880 million capital raise backed by major shareholder Rio Tinto.
Page 20: The Australian sharemarket edged higher yesterday as traders tentatively bid up stocks following a sharp sell-off in the previous session.
Page 21: Investors are slashing their copper forecasts and unwinding bullish bets as fears of short-term oversupply and dwindling Chinese demand force traders to walk back predictions the metal would be this decade’s breakout commodity success.
Page 21: Dealmaking lawyers are back in business, and law firms are raising rates to take advantage of seemingly unbending demand.
Page 25: The $10 billion Housing Australia Future Fund will offer investors social infrastructure-like returns – at a net 8 per cent to 12 per cent rate – according to Conscious Investment Management chief investment officer Matthew Tominc, who set up a $200 million fund last year to tap the nascent sector.
The Australian
Page 7: The Coalition is accusing Anthony Albanese of inappropriately interfering with the next census and undermining public confidence in the national survey, revealing it will pursue the government during the next parliamentary sitting over its mishandling of the issue.
Page 13: As negotiations drag on between US private equity giant Bain Capital and Qatar Airways over the proposed purchase of a stake of about 19 per cent in Virgin Australia, it can be revealed the condemned “Project Doubles” isn’t the only tennis-styles deal on the court.
Page 13: Macquarie Group’s stellar $24bn divestment of AirTrunk may deliver it hefty performance fees as high as $1.3bn and stoke further demand for digital infrastructure assets, if lofty valuations don’t put them out of reach.
Page 13: ANZ’s lawyers are warning contentious court action against the bank by a former employee, including the discovery of key documents, risks becoming a “roving commission” into the ANZ’s culture and conduct.
Page 16: The appointment by Santos of a new chief financial officer has stirred speculation the oil and gas company is positioning a potential successor in place should chief executive Kevin Gallagher decide to leave next year.
Page 20: Hong Kong’s financial secretary, Paul Chan, has urged Australian companies doing business in China to consider listing on the Hong Kong Stock Exchange.
The West Australian
Page 7: The Federal Government has ruled out any review of oil and gas projects in the Browse Basin off the Kimberley coast after the reclassification of a rare sea snake sparked a call for action.
Page 9: Public health workers could strike after the union rejected the latest pay and conditions offer from the State Government.
Page 43: A troubled garnet mine near Kalbarri — run by a Mineral Resources subsidiary led by Chris Ellison’s brother — is racking up a hefty debt owed to its cash-starved parent company.
