ACCC challenge to Coles’ status quo
The Australian Competition and Consumer Commission alleged “Down, Down” wasn’t actually lower and the promotion entirely misleading. The ACCC faces off against the retailer in the Federal Court on Monday. The Fin
KPMG partner used AI to cheat on AI test
More than two dozen KPMG Australia personnel have used artificial intelligence to cheat on internal exams since July, including a partner who will be fined more than $10,000 for using the technology in an AI training course. The Fin
Home sells $1.4m above reserve as auction jumps
Buyers are so far keeping pace with the national auction market, with strong clearance rates posted across the capital cities, even as listings rose by almost 30 per cent and despite the month’s interest rate hike. The Fin
Taylor demands Labor spending audit
New Opposition Leader Angus Taylor has urged Prime Minister Anthony Albanese to set up a bipartisan taskforce to tackle high government spending as he tries to pressure Labor on rising inflation and higher interest rates. The Fin
The Medi-Corporate model
A national network of Medicare urgent care centres underpinned by substantial taxpayer grants to investor-backed medical centre giants is beginning to substantially reduce the pressure on public hospitals. The Aus
Skills trap in AUKUS race
Taxpayers will fork out more than $55bn for AUKUS-related infrastructure amid fresh warnings that skills shortages will pose extreme challenges to rolling out the nuclear submarine project. The Aus
Workplace trauma handbook ‘woke rubbish’
Senior bureaucrats and union chiefs have endorsed a “psychosocial hazards” playbook to manage mental and social trauma in government departments, with a federal public service watchdog swamped with demands to probe complaints of alleged assaults, bullying and conflicts of interest. The Aus
Cook’s new laws to stop black market tobacco
Roger Cook has vowed to shut shops for up to 90 days to stop tobacco “thugs” and will introduce legislation on Tuesday, after being repeatedly accused of inaction over Perth’s growing black market trade. The West
Regional MPs lose in Zempilas reshuffle
Basil Zempilas made home ownership the focus of a new-look Opposition attack, appointing shadow treasurer Sandra Brewer to the housing portfolio. The West
Loophole costing young workers $36 million
WA teenagers will miss out on about $36 million in superannuation contributions this year because of an outdated law, prompting fresh calls to scrap the legal carve out for under-18s. The West
The Australian Financial Review
Page 14: Cbus and Rest Super are calling on the Albanese government to urgently push through its long-promised financial advice reforms and crack down on dodgy operators, as they attempt to stem the flow of members switching to rival providers.
Page 16: The Horse, the buzzy Australian accessories designer best known for a line of social media-friendly leather bags, has secured outside investment for the first time in a deal that values the business at around $50 million.
Page 16: Affinity Equity Partners has agreed terms with lenders to upsize the debt facilities for Lumus Imaging, after delivering 40 per cent EBITDA growth in the nine months since it carved the radiology business out of ASX-listed Healius for $965 million.
Page 20: Australia’s sharemarket could hit a record high this week but investors are preparing for a potentially volatile Monday as the reporting season peaks with 80 companies set to release their results over the week.
The Australian
Page 13: Long-time gold prospector Matt Cook is at the vanguard of a new wave of gold rush prospectors, benefiting from the boom in gold prices led by global instability, including the conflicts in Ukraine and the Middle East, and US President Donald Trump’s unpredictable forays into foreign policy. An ounce of gold is worth $7000, having risen by more than 70 per cent over the past year.
Page 14: Koala Furniture’s float prospects took a heavy hit last week, with Temple & Webster’s weak result followed by Nick Scali’s slump seen as the nail in the coffin.
Page 15: Dig Howitt, who heads the $13bn bionic-ear maker Cochlear, says increased R&D spending is one sure-fire way to boost productivity, but Australia’s tax settings around investment are anchored in another era.
Page 15: At $2.27bn and counting, Commonwealth Bank’s business lending arm is bringing in the cash after ruling off an interim earnings update built on the back of Australia’s thriving commercial scene.
The West Australian
Page 17: Roger Cook is officially asking industry to name its price to develop green steel, three months after he promised to make it a requirement for major infrastructure projects.
Page 17: Sam Fischer, the new boss of Treasury Wine Estates, wants to convince bruised investors that less is more.
Page 17: The Reserve Bank of Australia will shine new light on why it decided to hike interest rates, while fresh data should offer insight into whether a further increase is on the cards.
