More large retailers to face grilling
Chief executives of large retailers, including Bunnings, are set to be grilled about their treatment of customers and suppliers by a new parliamentary inquiry that is causing unease within the Coalition for being too populist, and underscores how big business is being pulled into the politics of the cost-of-living debate. The Fin
Private hospitals could get fixed prices
The federal government is considering introducing fixed prices for operations and other services in the country’s 650 private hospitals under a raft of proposals designed to fix the sector, and has told key players it is willing to let more hospitals close rather than prop up inefficient operations. The Fin
No passenger compo from late airlines
The Labor government will not introduce a European Union-style scheme to compensate airline passengers for disruptions and delays despite public outcry and calls from the competition regulator after chronic poor performance by Qantas last year. The Fin
‘No NDIS’: Shorten defends disability cost savings
Disability Minister Bill Shorten says critics of Labor’s move to shore up sustainability of the NDIS are badly misguided, describing changes passed by parliament as returning the $49 billion scheme to its original intent. The Fin
Mandatory scam code
The Albanese government is preparing to force social media platforms to obey mandatory codes of conduct after warning its voluntary approach to combating scams may be falling short of expectations. The Aus
Corporate leaders warn of sticky inflation, higher rates
Top business leaders have warned the Albanese government faces a difficult task taming inflation with persistent price pressures pointing to interest rates staying high for longer. The Aus
Executives remuneration soaring
Chief executives at some of Australia’s biggest companies have landed a financial windfall, with remuneration packages jumping nearly 20 per cent in the past fiscal year after a strong rise in bonuses and other incentives, according to annual reports. The Aus
New laws to ‘crush’ small businesses
Nervous bosses warn Labor’s latest workplace laws — including the contentious right to disconnect — will “crush productivity” and create a lawyers’ picnic as they brace for the start of the new regime. The West
Pilbara to gain from De Grey’t gold rush
The Federal Government’s Northern Australia Infrastructure Facility will lend $150 million to help bankroll a massive new Pilbara gold mine in an attempt to diversify a region dominated by iron ore. The West
Nod to Law Society linchpin
WA’s top legal group, the Law Society of Western Australia, is on the hunt for a new leader after CEO David Price called time after 18 years. The West
The Australian Financial Review
Page 3: Record low vacancy rates, a cost-of-living crunch and demand for more flexible living options from digital nomads and Millennials are driving plans by developers and fund managers to build thousands of micro apartments in big Australian cities.
Page 5: Boosting dynamism in the economy and lowering barriers to labour mobility are key priorities for reform of Australia’s competition policy settings, Treasurer Jim Chalmers says.
Page 8: PwC Australia is close to settling a defamation action brought by a former partner who was incorrectly and publicly linked to the big four firm’s notorious tax leaks scandal.
Page 10: Major miners have been forced into the first multi-employer bargaining for the industry after a key union won approval to negotiate a pay deal for critical supervisors across three different coal mines, raising the prospect of mass shutdowns.
Page 14: Google is trying to reduce what it spends on commercial deals with some smaller digital news publishers, amid growing calls for a levy on technology giants to fund journalism after Meta walked away from the News Media Bargaining Code.
Page 14: Perth billionaire Laurence Escalante’s online casino company, Virtual Gaming Worlds, has rejected assertions it is breaking American laws as rivals, lobbyists and state regulators attempt to undermine its business model.
Page 15: Mineral Resources’ flagship iron ore mine made around $US8 ($11) for every tonne of red ore sold into the spot market on Friday, making it one of the least profitable iron ore mines in the Pilbara.
Page 15: Qantas is gaining market share from its main rival, Virgin Australia, new analysis shows, as low-cost subsidiary Jetstar takes delivery of bigger aircraft and adds cheaper seats to a softening domestic aviation market.
Page 15: Unions seeking to assert themselves as a force in the iron ore industry have told BHP they want guaranteed annual pay rises for workers, one of several union priorities put to BHP executives at a meeting in Perth last week.
Page 17: The assault on Commonwealth Bank’s position in business banking from Macquarie and other challengers is falling flat, according to CBA executive Michael Vacy-Lyle, who says he has stabilised declining profit margins at the country’s No. 2 business lender.
Page 19: Wesfarmers’ Bunnings, Officeworks and Priceline chains plan to launch their own retail media businesses to help diversify revenue and improve profits.
Page 29: Swedish pension fund Forsta AP-fonden is downsizing its Australian farmland holdings after listing about $50 million of cropping properties in Western Australia’s Great Southern region.
The Australian
Page 5: The early release of super during the Covid pandemic was less effective than the JobSeeker Payment at stimulating spending, reducing financial stress and improving individual wellbeing, a new study has found.
Page 5: The National Children’s Commissioner has warned that teenage illiteracy is fuelling youth crime, as education departments drag their feet on mandating the use of phonics to teach children to read and write.
Page 6: The fluffy red dots swirling in vials and giant tubes in Tom Puddy’s Fremantle production facility represent the great hope for the global livestock industry as the native seaweed could reduce methane emissions from sheep and cattle by up to 90 per cent.
Page 13: Airlines and airports will be made to pay for unreasonable flight delays and cancellations under sweeping changes outlined in the federal government’s long-awaited aviation white paper, to be released on Monday.
Page 13: Former Australian Competition & Consumer Commission chair Rod Sims says the Productivity Commission has the power and skillset to deliver much needed reform to the National Electricity Market for the first time in three decades.
Page 14: Australia’s sharemarket will join the global rally after US Federal Reserve chief Jerome Powell made it clear that the central bank was ready to cut interest rates.
Page 15: The Albanese government’s proposed merger reforms have alarmed the shopping centre industry, with major players warning that they were “poorly targeted” and had the potential to kill off the recovery in the still fragile sector.
Page 15: Advisory and restructuring firm McGrathNicol Advisory says businesses are under-prepared and vulnerable to global risk and security issues as new cyber security obligations kick in next month.
Page 15: Almost 1.6 million households are now facing insurance stress, with a rising number of families experiencing “extreme” cost pressures as insurers raise premiums in response to inflation and catastrophic weather trends.
Page 16: Coles has agreed to alter its payment terms with its thousands of food and grocery suppliers in a move that will deliver a major boost to supplier cashflow following the bruising senate inquiry that put a spotlight on their treatment by the big supermarkets.
The West Australian
Page 14: More than 1000 CFMEU WA members are expected to converge on Forrest Place on Tuesday, protesting against a takeover of its construction division and telling Labor: “We built this city.”
Page 18: Investors chasing high interest rates on bank term deposits have been urged to shop around, as Australia’s big four slashed term deposit rates last week.
