Big business acts to shake award rules
Employers want staff who work from home to forgo penalty rates and other allowances, arguing that the flexibility they have makes these entitlements unnecessary, in a major test case that could have sweeping effects on the rest of the economy. The Fin
Rio chief backs lithium push, dividend slashed
Departing Rio Tinto chief executive Jakob Stausholm says his $12 billion push into lithium is looking solid, as lower iron ore revenues forced the miner to pay the smallest interim dividend in seven years. The Fin
Lower inflation sets stage for RBA rate cut
Lower fuel prices and easing home building costs have helped the Reserve Bank’s preferred measure of underlying inflation moderate to a 3 and a half year low of 2.7 per cent, setting up a near certain interest rate cut in less than two weeks and potentially more relief before Christmas. The Fin
Labor to amend penalty rates bill days after tabling
The Albanese government is backtracking on a bill it introduced to parliament just days ago, concerned its proposed changes to penalty rate protections laws will threaten decades-old award conditions. The Fin
US beef decision made in haste
Australia’s peak beef industry alleges there was a haste in the final part of the biosecurity process to broaden US beef imports and reissued a call for an independent assessment. The Aus
Case builds for cheaper Chinese wind turbines
Australia needs to embrace cheaper Chinese-made wind turbines if it is to get anywhere near meeting the Albanese government’s renewable energy targets, a leading analyst says, as Liberal MP Andrew Hastie warns of risks to national security if Chinese entities expand their presence in the grid. The Aus
Hastie disappointed with Zempilas over climate policy
The two great hopes of the West Australian Liberal Party have fallen out publicly over net zero, with Federal MP Andrew Hastie expressing his disappointment over the decision by WA Opposition leader Basil Zempilas to ignore a member-led motion opposing the climate policy. The Aus
Housing critics are BANANAS says Carey
In the WA Planning and Housing Minister’s battle against local councils John Carey used a speech at the Sydney Institute on Wednesday to also take aim at the Greens for blocking development. The West
Marco witness made $1.6m but was unaware of ‘fraudulent’ scheme
The first witness in the trial of an alleged mega-fraudster pocketed a handsome profit from the scheme, but insisted he was misled about how the funds were being used. The West
Christien de Garis returns to Perth as 7NEWS news director
Award-winning journalist Christien de Garis has been appointed as the news director of 7NEWS Perth. The West
The Australian Financial Review
Page 6: Legislation for the proposed new 30 per cent tax on superannuation balances above $3 million has been pushed beyond next month’s productivity roundtable, enabling a broader push for higher taxes at that summit to soften hostility towards the controversial proposal.
Page 8: The chief executives of two of the country’s biggest electricity and gas suppliers have warned the easy part of the energy transition is over, and public support risks being lost in the difficult and expensive task of rolling out the wind and solar farms needed to replace coal.
Page 8: Australia may become the beneficiary of Donald Trump’s war on renewables, says a former senior Biden administration energy official, but will need to do more to promote itself as a destination for renewables-based investment.
Page 9: Westpac chief executive Anthony Miller has backed the concerns of prominent businessmen Ryan Stokes over the sharp rise in mental health claims, but said more could be done by employers before legislation needed to be changed.
Page 16: Corinthian Energy Resources, a Perth-based technology player that turns municipal waste into energy, is hoping to help the Northern Mindanao region of the Philippines tackle its overflowing landfills.
Page 20: Lithium producer IGO has fully impaired its stake in the Kwinana lithium hydroxide refinery, with managing director Ivan Vella saying there is little hope the asset will ever thrive.
Page 20: Mineral Resources has shrugged off high capital expenditure and looming impairments to offer a rosy view of its strained balance sheet, rounding off a rough year for the iron ore and lithium miner.
Page 24: Australian shares came up just short of a record close on Wednesday after a quarterly inflation report all but sealed expectations of an interest rate cut from the Reserve Bank next month, fuelling a rally in property stocks.
The Australian
Page 13: Rio Tinto’s Jakob Stausholm has delivered Labor a brutal parting warning that Australia’s energy prices are incompatible with its goal of manufacturing at home, and warned the economy risks being undercut by more competitive markets in the battle for Rio’s capital.
Page 13: The boss of Andrew Forrest’s renewables company has urged the Albanese government to legislate a 75 per cent cut in emissions by 2035, heaping pressure on Labor to adopt a more ambitious climate target.
Page 13: BP has revealed that its decision to walk away from the $55bn Australian Renewable Energy Hub megaproject was sealed by the reluctance of future customers to back up their support for green power with financial commitments.
The West Australian
Page 18: The boss of Australia’s largest lithium miner Dale Henderson thinks the Albanese Government should not prioritise buying lithium for its $1.2 billion critical minerals stockpile.
Page 36: WA has plunged down a global list of the world’s best mining destinations, with survey respondents citing approval delays and policy uncertainty.
Page 37: Morgan Stanley analysts will look for signs of a broader consumer recovery during the August earnings season, noting rate cuts have helped ease cost-of-living pressures but the impact on spending has so far been moderate.
