AI threatens emissions cut targets
Sky-high levels of energy required to power AI technologies and data centres will put pressure on the renewables rollout, according to the Climate Change Authority, which warns the growing industry will limit Australia’s emissions reduction ambitions. The Fin
Optus probe looms as call failures rise
The telecommunications regulator will scrutinise whether Optus’ Singapore parent company has invested enough in mobile phone networks after last week’s fatal Triple Zero outage, as the telco revealed more people who were unable to get through. The Fin
Canva accounts raise questions over profits
Newly released accounts for design software juggernaut Canva call into question its claims about long-term profitability, with the company admitting it has based public statements on alternative reporting metrics favoured by other tech companies, including Atlassian. The Fin
ASIC denies ordering La Trobe to halt access
The corporate regulator says it did not tell La Trobe Financial to shut its online customer portal, despite the firm saying the move was necessary to comply with an order from the Australian Securities and Investments Commission to freeze inflow into three funds. The Fin
Critical checks Optus ignored
Optus failed to follow a basic list of checks that other telcos perform – including dialling triple-o themselves – during routine upgrades to ensure Australians can continue to call emergency services, sparking a fatal outage. The Aus
RBA has inequity concerns for young
Reserve Bank of Australia governor Michele Bullock has concerns about the intergenerational inequity in regards to bracket creep in taxation, but says that there is nothing the central bank can do about it. The Aus
Telco ‘doesn’t deserve stadium name’
Calls are growing for Optus to have its name stripped from Perth’s landmark stadium, in what some experts believe could be the start of the complete disappearance of the damaged brand from Australia. The Aus
Premier assures China WA can be relied upon
Roger Cook has arrived in Shanghai to reassure industry leaders that China is WA’s biggest trading partner “by a very wide margin” and promise a “reliable” product in return. The West
No live sheep exports booked for rest of year
WA’s live sheep export trade may have ground to a premature halt, with not a single shipment booked to depart for the rest of the year amid unprecedented market conditions. The West
Minister’s veiled swipe at graduates over teacher resignations
Sabine Winton has laid some of the blame for WA’s record number of teacher resignations on younger graduates who are “particular” about working arrangements. The West
The Australian Financial Review
Page 3: Australians who want to work in the US could benefit from the more than $150,000 fee Donald Trump has slapped on visas because it will not apply to the pathway most local workers take to enter America, but could drive up demand for the Aussie-only E-3 visa.
Page 7: A former manager of the construction industry’s biggest redundancy fund has warned that they risk being used to pay operating costs of their union and employer group founders rather than to benefit workers, and need to be banned from doing so.
Page 8: Members of Virgin Australia’s Velocity frequent flyer program will be able to use their points to pay for purchases at Myer, the department store chain run by former Qantas Loyalty chief executive Olivia Wirth.
Page 14: A new war in the $4.1 trillion superannuation sector is heating up as fast-growing wealth platforms such as Netwealth and Hub24 grab a greater share of retirement assets from industry superannuation funds.
Page 15: Banks would be harming themselves if they carried out their threat to cut investment in fraud protection in response to the central bank’s plan to lower credit card fees, says Reserve Bank governor Michele Bullock.
Page 17: The head of Viva Energy’s convenience business has resigned, adding to investor concerns about the outlook for the struggling division and triggering a major sell-off in its shares.
Page 18: Healthscope chief executive Tino La Spina is urging unions to drop their opposition to a controversial salary packaging proposal to the group’s 19,000 staff, which he says is the only way to keep the company whole and stave off job cuts amid a lack of buyer interest.
Page 22: The Australian sharemarket rose for the second consecutive session on Monday, led by a rally in mining stocks amid a broad lift in commodity prices on optimism about rate cuts and global growth.
The Australian
Page 6: Employers and unions will work with the federal government to develop an industry-first charter for the construction sector that will seek to lift behavioural standards and reduce disputes.
Page 7: The nation’s peak body for convenience stores the Australian Association of Convenience Stores has declared a $2bn collapse in legal tobacco sales, saying the Albanese government’s reforms have handed the market to criminals and left the legacy of Health Minister Mark Butler in ashes.
Page 13: AGL Energy has urged regulators to reject Ausgrid’s $180m bid to install and operate large-scale batteries and rooftop solar, warning the move would drive up household bills, undermine competition and set a dangerous precedent by allowing a monopoly network to stray into competitive markets.
Page 15: The soaring popularity of airlines’ premium economy cabins has delivered an unwelcome boost to airfares with prices climbing faster than in any other part of the plane.
Page 15: Surging total and permanent disability claims for mental illnesses are pushing up premiums and threatening to make the cover unaffordable for many people.
The West Australian
Page 14: Proposed boundaries for a massive new Defence site at Henderson to support AUKUS have not been finalised despite the expected deployment of US nuclear submarines to WA in two years.
Page 32: Forrest and Forrest Pty Ltd, a pastoral business owned by the separated couple, was denied access to documents regarding royalties paid by MinRes to the Buurabalayji Thalanyji Aboriginal Corporation.
Page 32: PYC Therapeutics’ newly reappointed chief Rohan Hockings has assured nervous investors a new-look board is now “very aligned” on the company’s direction after his shock return less than a week after quitting abruptly.
Page 32: Shares in Perth 3D modelling and extended reality firm Vection Technologies gained nearly 30 per cent after locking in a substantial suite of work with a NATO-approved customer.
Page 33: WA’s P&N Group is back in merger talks, this time signing a preliminary agreement to explore a $30 billion tie-up with Great Southern Bank that would create the country’s biggest mutual bank.
Page 34: Australia’s biggest health insurer is expanding its landmark deal with WA biotech Emyria by announcing it will fund the use of psilocybin to treat treatment-resistant depression.
