ASX tops 8000 in global market rally
Australia’s sharemarket has made history, closing above 8000 points for the first time, buoyed by hopes that the United States is on the cusp of cutting interest rates – but fund managers warn the bull market is at risk if the Reserve Bank returns to tightening. The Fin
Democracy may be backsliding, says O’Neil
Australia should play a key role in reversing the global decline of democratic systems and structures, Home Affairs Minister Clare O’Neil said in a speech at Old Parliament House in Canberra. The Fin
Aussie Broadband’s budget Buddy chases lost customers
Aussie Broadband hopes to win back some of the customers lost to rival telecommunications group Superloop with a new, cheap internet brand, Buddy Telco, but is warning future earnings will be lower than expected. The Fin
‘We need to boost MPs’ security’
Former Home Affairs secretary Mike Pezzullo has called for a review into protective security arrangements amid growing concerns about political violence and threats to MPs in Australia, as the Albanese government warned democracy was under attack. The Aus
Bandt plan to usurp ALP on left
Adam Bandt says the Greens have replaced Labor as the authentic party of the centre-left and will win over voters by taking a “Robin Hood platform to the election”, soaking major corporations to fund better outcomes in areas of traditional ALP strength. The Aus
Tame to quit foundation
Grace Tame will step down as CEO of her charitable foundation amid a donor backlash over its questionable governance and a half-hearted leadership style that bore few tangible results for sexual abuse survivors. The Aus
Upheaval continues as Fortescue loses another energy exec
Andrew Forrest’s Fortescue has lost yet another senior executive, with Asia Pacific boss Eva Hanly understood to have parted ways with the company. The Aus
Mutiny over green tape debacle
Almost half of businesses don’t believe Canberra bureaucrats can handle an environmental approvals system and could ditch major projects if time lines drag out any longer, a major survey has found. The West
Miners ride wave of higher prices amid economic uncertainty
There’s been a silver lining from implosion of the local nickel mining industry for WA’s gold producers needing all hands on deck to capitalise on the precious metal’s record price. The West
WA key to new $8b medtech blueprint
The $8 billion potential of the nation’s RNA sector is set to be unleashed with a new blueprint drawn up to seize the golden medical science opportunity. The West
The Australian Financial Review
Page 5: The Albanese government is poised to move against the CFMEU later this week, with options ranging from appointing external administrators to deregistering the union.
Page 7: Australian pharmaceutical giant CSL has won contracts to supply avian flu vaccinations to Europe and the United States, as countries including Australia ramp up preparations for the dangerous H5N1 avian flu virus.
Page 17: Scott Farquhar’s Skip Capital will back J-Power’s $380 million takeover bid for Genex Power, significantly enhancing the Japanese utility giant’s chances of buying the ASX-listed renewable energy developer.
Page 17: Proposed rules on green hydrogen would prove ‘‘catastrophic’’ for the country’s clean energy export ambitions and may result in taxpayers rewarding producers for making the gas using fossil fuels, clean hydrogen advocates say.
Page 19: Liontown Resources will sell lithium to a Chinese customer for the first time, ending its hardline stance on only dealing with Western partners.
Page 19: Morrow Sodali, the communications and investor relations advisory roll-up owned by private equity group TPG Capital, is rebranding as it consolidates 10 acquisitions in 18 months.
Page 21: Australian construction industry software maker HammerTech has sealed a $105 million investment from Californian private equity firm Riverwood Capital, as it looks to expand its US and European operations.
Page 21: Woolworths’ venture capital firm W23, the co-founders of supermarket chain Harris Farm, the family office of Tesla chairwoman Robyn Denholm and Australian venture capital fund Salus Ventures are among backers of an Australian start-up that plans to build cybersecurity style protection in the biosecurity realm.
Page 21: The ASX’s technology boss says it will reduce reliance on technology contractors and consultants in favour of full-time employees, as company insiders blew the whistle on overpaid temporary staff and consultants being employed for years on end.
Page 29: A rush of money into clean energy mining companies and junior healthcare pioneers helped propel the Australian bourse past 8000 points yesterday for the first time.
Page 29: Investment bankers are hopeful yesterday’s sharemarket rally will encourage ASX-listed companies to tap the equity capital markets for mergers and acquisitions or to finance capital expenditure plans to drive growth.
The Australian
Page 8: Australia’s soaring tax take, fuelled by a still-tight labour market and elevated commodity prices, likely puts Labor on a path to breaching the former Coalition government’s 23.9 per cent tax-to-GDP cap, economists say.
Page 8: Farmers are concerned there will be severe worker shortfalls and a drop-off in the number of visitors to rural communities if the federal government cuts a long-established visa scheme to incentivise backpackers to head into the regions for work.
Page 15: The corporate regulator has begun a key phase of its investigation into alleged market manipulation by ANZ, informally interviewing staff from the bank’s institutional division over unusual trading activity in government bonds and futures.
Page 16: The largest shareholder of Coronado Global Resources, Energy and Minerals Group, is understood to have received inbound offers for its 51 per cent stake in the Australian listed company after a deal with Sev.en Global Investments collapsed.
Page 16: Australia’s big four banks have loaned more than $61bn to fossil fuels projects and companies, nearly a decade after the Paris Agreement was adopted globally, according to new research.
Page 17: Myer boss Olivia Wirth, who already enjoys unprecedented power at the department store owner in her role of executive chairman, has further strengthened her oversight of the retailer’s operations after being made a director of its wholly owned fashion brands.
Page 17: UBS has re-hired analyst Kieren Chidgey to co-head its Australia and New Zealand research efforts alongside Marcus Curley, as it seeks to boost its coverage of financial stocks and domestic market.
Page 18: Deloitte Australia has purchased a minority stake in PwC Indigenous Consulting as it looks to beef-up its presence in designing and delivering policies, programs and services to improve outcomes for Aboriginal and Torres Strait Islander Australians.
Page 19: Qantas CEO Vanessa Hudson says history proved three airlines struggle to survive in Australia and government regulation of the industry should focus on the sustainability of existing operators.
The West Australian
Page 14; Bank customers on low incomes, including First Nations people, will be refunded more than $28 million after a first-of-its-kind ASIC review revealed four Australian banks systemically charged high fees to those customers who could least afford it.
Page 20: Leonoil – a petrol station owner controlled by a Sierra Leonean businessmen – has sprung up in the heated contest to take control of a West African mineral sands miner based in Perth.
Page 34: Newmont and environmental regulators are still working to fix two troubled tailings dams at the Telfer gold mine, months after production was switched off.
Page 34: KPMG has added six new partners to its Perth office with three to make the most of WA’s growing mid-market segment.
Page 34: Embattled human services group APM is thinking beyond protracted takeover talks with major private equity backer Madison Dearborn Capital Partners, with a debt deal that will secure financing until 2030.
