Super effect ‘fuels bond revival’
The chairman of the nation’s largest superannuation fund Don Russell says the billions of dollars flowing into pension accounts are transforming the financial system underpinning the growth of a globally relevant Australian bond market. The Fin
Blackstone in talks to buy Iress for $1.9b
Iress, the provider of a highly popular stockbroking platform, could be the latest ASX-listed software play taken private as it negotiates with Blackstone over a buyout that could value the business at about $1.9 billion. The Fin
No new tax before next election: PM
Prime Minister Anthony Albanese has poured cold water on implementing any new tax changes before the next election, saying the government will stick to the handful of proposals it put to voters on May 3. The Fin
Ex-auditors in director seat face adviser heat
Institutional Shareholder Services will urge its institutional investor clients to vote against members of board audit committees if they are former partners of the company’s auditor, a move that could lead to large votes against several prominent directors. The Fin
Competition tsar’s warning on subsidies
Australia’s former competition tsar Graeme Samuel has called on Anthony Albanese and Jim Chalmers to end multibillion-dollar industry subsidies and tell companies seeking handouts or bailouts that “enough is enough”. The Aus
EBA deals after unions get $120m
Australia’s biggest unions have collectively received more than $120m in Australian Electoral Commission-declared financial payments from income insurance companies who have then been granted preferred status in dozens of enterprise bargaining arrangements negotiated by unions, raising concern around conflicts of interest in the workplace. The Aus
Australians say big tech must pay
Australians have issued an urgent call to arms demanding the government “stand firm” and resist any international pressure to ease the country’s copyright provisions in the face of the unchecked rise of artificial intelligence. The Aus
Perth CBD has second-highest office vacancy rate
Perth CBD now has the second-highest office vacancy rate nationally, with an influx of new buildings and an increase in work-from-home arrangements being blamed for empty floor spaces. The West
RPH flood adds to ED staff woes
Part of the Royal Perth Hospital emergency department was shut overnight and ambulances were prepared to be diverted to other hospitals amid a flood in the building. The West
$100m donation sees vet school riding high
A generous businessman has donated a staggering $100 million — close to his entire net worth — to fund a complete rebuild of Murdoch University’s veterinary school in the biggest grant given to a WA university. The West
The Australian Financial Review
Page 6: The prudential regulator says it is probing how private credit funds are sold to investors via so-called wealth platforms after a series of high-prefile collapses raised doubts about adequate screening of offerings.
Page 11: The Finance Department says airlines are on notice not to offer double status credit promotions to public servants, after a review found many were waiting to book travel and take advantage of the offers.
Page 15: The corporate watchdog has issued the ASX with demands to formally explain a ticker error that wiped $400 million from value of TPG Telecom occurred, even as the market operator warns investors to expect a significant hit from the cost of cooperating with regulatory inquiries.
Page 17: Jane Hrdlicka, the incoming boss of Endeavour, has hired consultant Bain & Company for a review of the struggling hospitality giant which could result in asset sales or a major restructure of the business.
Page 17: AMP chief executive Alexis George says the wealth management giant can innovate and target growth now that it has built the foundations of its turnaround after it missed forecasts for its first-half profit.
Page 18: Banks will force customers to pay higher interest rates and account fees on credit cards, while retailers will charge more for purchases if the Reserve Bank of Australia cuts wholesale payment costs and bans surcharges, international payments giant Mastercard has warned.
Page 19: The federal government is taking a $50 million stake in Liontown Resources to support the struggling lithium miner amid a downturn in the commodity’s price and as it doubled down on critical minerals.
Page 22: The Australian sharemarket traded near its record high on Thursday as investors weighed the latest tariff measures by Donald Trump and expectations of an interest rate cut from the Reserve Bank next week.
The Australian
Page 13: The Department of Finance has urged government departments to treat PwC Australia as “equitable” as any other professional services firm after ending a freeze on its presence in Canberra, marking the end of its punishment for leaking national tax secrets.
Page 13: ANZ staff are getting jumpy that the bank’s new chief executive Nuno Matos is planning to slash jobs when he articulates his vision for the lender, as analysts warn almost 2000 roles could be sacrificed to restore earnings growth.
Page 15: Rio Tinto’s chief mine builder has declared Australia the most expensive place in the world to carry out his work, and warned the nation needs to turn that around to attract global capital.
Page 15: Financial services group AMP has posted a 5 per cent slide in interim net profit as class action and business simplification costs hit its bottom line.
The West Australian
Page 16: WA Governor Chris Dawson led an executive council meeting with Resources Minister Madeleine King and Assistant Minister to the Prime Minister Patrick Gorman, on recommendations such as approving regulations and appointments.
Page 20: North Perth’s property market has hit a personal best, with a $4.1 million apartment selling recently — and a more expensive one listed for sale.
Page 39: Mineral Resources has named new board appointee Ross Carroll to replace Test cricket legend Justin Langer on the miner’s remuneration and people committee.
Page 40: The State Government’s ambitious plan to switch off coal power is facing fresh doubts after top energy analysts warned the fuel may need to stay in WA beyond 2030.
