Bailouts pose ‘ransom risk’
Two former Productivity Commission bosses say there is a significant risk of federal and state governments being held to ransom by uneconomic energy intensive manufacturers that goad them into expensive taxpayer bailouts. The Fin
Big super tilts from CBA towards miners
The country’s largest superannuation fund is moving retirement savings out of Commonwealth Bank and into resources, in a sign the market is rotating back towards an underperforming commodities sector. The Fin
Federal borrowing on track to eclipse the states
The federal government will borrow more money than the states for the first time since the pandemic this financial year, according to new projections by Westpac, adding pressure on Treasurer Jim Chalmers to plug the budget deficits at the upcoming economic reform roundtable. The Fin
High rises aren’t the enemy: Greens leader
West Australian Greens leader Brad Pettitt has a simple message for his party colleagues on the east coast: quit the inner-city NIMBYism because high-rises are not the enemy. The Fin
Albanese’s reform call for productivity
Anthony Albanese will declare it is time for big employers and small business owners to resume their rightful place as primary drivers of the economy and acknowledge government “doing less” would unleash the private sector, as he lays the ground for Labor’s economic reform roundtable. The Aus
Scam alert for online shoppers
Ghost stores are the latest scam luring consumers to buy heavily discounted products online from websites that masquerade as local businesses but are really based overseas and ship inferior items to what was advertised. The Aus
Qantas weighing data-breach compo
Qantas is yet to decide whether any form of compensation will be offered to six million customers caught up in a massive cyber-attack on a call centre database, resulting in the theft of sensitive personal information. The Aus
Staff enjoy Premier salaries
Roger Cook insists he needs extra staff to help run his ambitious agenda after Opposition Leader Basil Zempilas grilled him on his “excessive” wages bill. The West
Minister orders review after horrific revelations
A snap review of Western Australia’s childcare system has been ordered to ensure safety protocols are up to scratch in the wake of horrific abuse allegations in Melbourne. The West
No decision on canning poll debacle company
A decision whether to break a $86 million contract with a private firm controversially hired to staff elections is on hold until after local government elections in October. The West
The Australian Financial Review
Page 10: The Federal Court has ruled that stockbrokers and wealth advisers are not covered by the finance award, overruling a decision that could have exposed investment firms to millions of dollars in back-pay claims.
Page 10: EY has won the right to see a trove of documents in a court case over the defection of partners from the big-four consultancy to an upstart rival after a judge agreed to a request he likened to Oliver Twist’s plea.
Page 13: Graduates who enter some of the highest-paid professions, such as medicine, dentistry and law, stand to be the biggest beneficiaries of the Albanese government’s 20 per cent cut to student loans.
Page 19: With investors thinking Commonwealth Bank shares are overpriced, analysts are unanimously recommending that their clients sell.
Page 20: Western Australian mineral explorer Antipa Minerals was in the market on Thursday morning seeking $30 million from investors to boost its Minyari Dome project.
Page 26: A surge of more than 5 per cent in mining giant BHP helped the Australian sharemarket to recoup much of the earlier session’s losses from a heavy sell-off in Commonwealth Bank and its lending rivals.
Page 29: Consultancy Urbis has acquired Echelon Planning, headed by Mark Woodland and Sarah McQuillen, in a move that strengthens Urbis’ government advisory, greenfield and urban renewal expertise and lifts its national planning practice to 350 people.
Page 27: Strong demand for corporate dispute, energy transition and infrastructure advice has created a two-speed legal market with smaller firms growing partner ranks while larger firms become more cautious about expansion.
The Australian
Page 5: Industry leaders are urging Anthony Albanese to stay the course in trade negotiations with the US and defend Australia’s national interest, as the looming expiry of Donald Trump’s 90-day freeze on his “Liberation Day” tariffs draws closer.
Page 5: Union officials are exerting greater influence over the ballooning Australian public service, with the Albanese government instructing agency chiefs to empower union delegates and hold regular forums with union leaders through a powerful new committee.
Page 13: AustralianSuper, the nation’s biggest super fund, has posted the lowest annual returns of the mega funds as its unlisted holdings dragged on its performance over the past financial year.
Page 13: Domino’s executive chair and billionaire Jack Cowin has blamed a rift between his outgoing chief executive and the board over the pace of change required to restore the pizza maker’s fortunes for the shock resignation of its new boss after just seven months in the job.
The West Australian
Page 16: The State Government’s commitment to its own Made in WA policy has taken a hit, with Premier Roger Cook labelling a decision to outsource production of a tourism commercial to an east coast company “pretty disappointing”.
Page 17: Penny Wong has sold the importance of WA to US counterpart Marco Rubio, highlighting the State’s geography as a major benefit of the AUKUS deal.
Page 43: One of the flagship campaigns to re-unionise the Pilbara’s iron ore mines has hit a roadblock after the unions had to make an embarrassing admission.
Page 43: A tally ranking miners on criteria including environmental impact, executive bonuses and mine site deaths has put Fortescue and Sandfire Resources on top, while Rio Tinto sits among the cellar dwellers.
Page 44: WA fund manager Willy Packer has reweighted his $2.1 billion Investigator Trust closer to Asia after selling down in the US because of persistent concerns about overvalued stocks and a “precarious economic outlook”.
Page 44: Belmont-based NRW has added another Rio Tinto contract to the books, this time worth $167 million at the mining giant’s Brockman Syncline 1 development.
Page 46: The financial crimes watchdog has ordered an external audit of Western Union over unresolved concerns about the money transfer company’s compliance with anti-money laundering laws.
