RBA’s grim growth warning
The Reserve Bank of Australia has downgraded its long-term outlook for productivity growth and warned the economy is incapable of sustainably growing faster than 2 per cent per year, in a grim reality check just one week before Treasurer Jim Chalmers’ economic reform roundtable. The Fin
Howes to quit KPMG for Sayers’ rebrand
KPMG leader Paul Howes is expected to become the head of the rebranded Sayers Group from February in a shock move part-way through his overhaul of his firm’s consulting arm. The Fin
Tough work cultures are toxic: CEO
Rio Tinto chief executive Jakob Stausholm says tough workplace cultures create risk-averse staff who are incapable of high performance, and on the contrary, workers must feel psychologically safe before they can achieve their full potential. The Fin
States united on EV tax
State treasurers will aim to present a united front at the economic reform roundtable next week on land use planning, electric vehicle road user charges and the need for upfront payments from the federal government for the transition costs of economic reform. The Fin
Unions, bosses clash on training
Unions and employers have clashed over the Productivity Commission proposal for training incentives and easing of entry requirements for certain occupations, with the ACTU urging the Albanese government to reject the “corporate welfare” push. The Aus
Trustees on hook for land council losses
Financial firms paid to manage Indigenous funds across Australia are reeling from a landmark report to the West Australian parliament claiming professional trustees are ultimately responsible for an Indigenous land council’s disastrous real estate deals and must pay restitution. The Aus
Senators turn up heat on Future Fund
Independent senator David Pocock will seek his colleagues’ support to order the $307bn Future Fund disclose its staff travel costs, after the publicly funded agency refused to reveal its full bill. The Aus
Minister insists SCG is safe
Roger Cook has rejected calls to apologise for the state of disrepair at Sir Charles Gairdner Hospital as a nurse revealed the ageing facility had mould with mushrooms growing out of the ceiling. The West
Penny pinching blamed for short-changing polling booths
Budget cuts have been blamed for “completely inadequate” staffing of polling booths following a sweeping inquiry into the March 8 State election. The West
WA’s mining tech event shows off resources sector
The latest tech from the State’s biggest mining and energy companies, as well as the businesses which service them, will be on display at the Resources Technology Showcase. The West
The Australian Financial Review
Page 6: Some of Australia’s most influential green groups have warned Labor that any attempt to use the slow renewables rollout as an excuse to water down nature protections under revamped environmental laws will fail, and undermine support for the energy transition.
Page 14: An almost decade-long decline in revenue from free-to-air television may soon be over as streaming advertising offsets losses from traditional broadcasting, says the chief executive of Seven West Media.
Page 15: The country’s largest superannuation funds face greater scrutiny over the size of the currency hedge risk needed to protect the growing pile of retirement savings being invested in offshore markets, amid concerns the current safeguards are inadequate.
Page 15: The new chief executive of family tracking app Life360 says rising anxiety among parents about their children’s safety is driving record revenue growth, as families now view the ability to keep tabs on loved ones’ whereabouts similarly to an essential service.
Page 16: Street Talk understands the family-owned AvidSys has been selected as the preferred bidder to acquire a controlling stake in an established Formula One team, just months after it bought Chennai Bulls, who have since own the inaugural event of India’s freshly minted Rugby Premier League.
Page 17: New NBN Co head Ellie Sweeney is confident most Australians will upgrade their internet plans over the next few years as the broadband network prepares to make one of its plans five times faster from September.
Page 17: Three of the big four consulting firms – KPMG, Deloitte and PwC – have exited 35 staff for misconduct, including sexual harassment and data breaches.
Page 26: The Australian sharemarket smashed its record on Tuesday after the unanimous decision by the Reserve Bank to cut interest rates for the third time this year fuelled broad gains.
The Australian
Page 5: Midnight Oil frontman and former Labor front bencher Peter Garrett has described a proposed plan to change copyright law in favour of big tech companies and AI developers as an “existential threat to artists”, while calling for community action to ensure that it does not come to pass.
Page 13: It has been a whirlwind near five years in charge of one of the world’s biggest miners, and Jakob Stausholm believes he has mostly done what he set out to do: repair broken trust, rebuild culture and give Rio the confidence to grow again.
Page 14: Healthscope’s plan to bid for itself and transform into a not-for-profit entity owned by its lenders could be shaping up as the most promising option for the private hospital operator, after sources say bidders have put forward lacklustre offers.
Page 15: Qantas and Virgin Australia’s loyalty programs are so influential, members pay on average 8 per cent more for flights if they are within reach of a new status tier, it has been revealed.
Page 21: Universities have blamed rising compliance costs for cuts to teaching and research, as the Fair Work Ombudsman revealed 110,000 academics and professional staff have been robbed of $218m in stolen wages.
The West Australian
Page 16: Murray Watt is “going flat out” to overhaul Australia’s creaky environmental laws, backed by Premier Roger Cook’s promise to help fast-track reforms.
Page 19: A sharp rebound in Mineral Resources’ share price has seen the company’s top shareholder other than Chris Ellison cash out over the past week to the tune of $71 million.
Page 19: Iron ore rose for a second day, as traders focused on expectations that the Chinese Government will enforce steel production cuts ahead of next month’s military parade in Beijing.
Page 20: A Yallingup resort led by one of the State’s most prominent developers has been held up as an example of a “broken planning system” that would be scrutinised under a probe pushed by the Liberals and Greens.
Page 20: BHP’s Tim Day has succeeded London-bound Simon Trott as the new president of the Chamber of Minerals and Energy WA.
Page 22: Shares in family-controlled manufacturing firm Veem have surged after landing another six years’ worth of work with Australian submarine builder ASC.
Page 31: US demand for Australian beef looks set to rocket as drought, disease and hefty tariffs hit other top cattle-producing countries.
Page 33: A new survey has revealed a staggering number of reported apartment defects in new or near-new complexes, prompting calls for a 10-year repair guarantee.
Page 34: Peak building bodies have called for WA’s ambiguous building legislation to be tightened as customers turn to strangers on social media to figure out their rights amid the mass confusion.
