First shot to rein in housing risk
The nation’s banking regulator has moved to rein in the booming property market by telling banks to apply a higher interest rate buffer when assessing home loans in a bid to reduce risky lending. The Aus
WA poised for submarine win
Finance Minister Simon Birmingham has confirmed a nuclear-powered submarine will likely be stationed in Perth for training and use in Australia — before the acquisition of eight subs announced as part of the controversial AUKUS deal. The West
ADCO moves on Jaxon site
Sydney-based builder Adco has taken over the landmark Forrest Hall project in Crawley that stopped early in the August implosion of Jaxon Construction. The West
Austal signs $200m deal with US Navy
Shipbuilder Austal has signed a deal with the US Navy to build two steel vessels, a contract worth almost $200 million. The West
Coal, gas surge amid China energy crisis
Thermal coal and LNG prices have both hit fresh peaks as the global energy crisis bites ahead of the northern winter, but Australian coal and natural gas producers may struggle to lift supply to take advantage of surging prices. The Aus
Chemical giant in WA border challenge
Coogee Chemicals, one of WA’s biggest privately owned industrial groups, could support a potential new High Court challenge against the State’s hard borders, describing them as “an abuse of parliamentary power”. The West
Another China property firm defaults
Fantasia Holdings, a developer of luxury apartments in China, says it didn’t make a $US206m ($284m) US dollar bond payment that was due on October 4, adding to the malaise surrounding the country’s highly indebted property companies. The Aus
Demand for electricity hits new low
Demand for electricity from the central power grid hit fresh lows last long weekend, highlighting the pressures being placed on ageing, inflexible baseload coal plants by the transforming market and, some say, bolstering the case for reforms. The Fin
NSW reopening on track as 70pc are jabbed
NSW will begin to ease its COVID-19 lockdown next week as the state becomes the first in the nation to hit the reopening goal of 70 per cent of over-15s fully vaccinated as early as today. The Fin
Facebook’s libel escape to face rejig
Attorney-General Michaelia Cash is pushing the states to make urgent reforms to the nation’s defamation laws to reverse a High Court ruling that has exposed governments and publishers to legal action over the offensive social media comments of third parties. The Aus
Jet lessors to sue Deloitte partner over Virgin claims
Aircraft lessors at home and abroad are suing Deloitte restructuring lead Sal Algeri, seeking a better return on their claims against the now-restructured Virgin Australia than the administrators allowed. The Fin
The Australian Financial Review
Page 1: NSW will begin to ease its COVID-19 lockdown next week as the state becomes the first in the nation to hit the reopening goal of 70 per cent of over-15s fully vaccinated as early as today.
The federal government should become a financier of last resort for the mining sector via the creation of a $250 billion loan facility, if it wants the Nationals’ support for net zero emissions by 2050, Resources Minister and senior Nationals MP Keith Pitt says.
Page 2: The Tax Office has frozen more than $80 million in assets linked to Gold Coast developer Jim Raptis and associated companies that The Australian Financial Review detailed in the Pandora Papers leak this week.
Page 6: Samoa’s new Prime Minister has called on Australia to do more to address the march of climate change through the Pacific, warning of unliveable conditions if regional powers fail to wind back their carbon emissions.
Page 8: The wharfies union has lifted its month of rolling strike action at the Port of Melbourne after a coronavirus outbreak took out a third of the workforce of a major stevedore, putting critical pressure on the state’s supply chain.
Page 12: Japanese power giant JERA has begun a trial to substitute hydrogen-rich ammonia for coal in a large thermal power station, as a global insurer urges investors to flex their muscles in boardrooms to force more rapid decarbonisation.
Demand for electricity from the central power grid hit fresh lows last long weekend, highlighting the pressures being placed on ageing, inflexible baseload coal plants by the transforming market and, some say, bolstering the case for reforms.
Page 17: Former Fortescue Metals and Rio Tinto executive Greg Lilleyman has returned to the iron ore sector at a time when soaring shipping costs and big grade discounts are making life hard for the fleet of juniors that have surfed the recent price boom.
Page 18: Aircraft lessors at home and abroad are suing Deloitte restructuring lead Sal Algeri, seeking a better return on their claims against the now-restructured Virgin Australia than the administrators allowed.
Page 23: China’s steel industry has hit its zero-growth production allowance for this year and no further capacity cuts are required from last month’s production levels to achieve compliance on a full-year basis, Macquarie says.
The Australian
Page 1: Attorney-General Michaelia Cash is pushing the states to make urgent reforms to the nation’s defamation laws to reverse a High Court ruling that has exposed governments and publishers to legal action over the offensive social media comments of third parties.
The nation’s banking regulator has moved to rein in the booming property market by telling banks to apply a higher interest rate buffer when assessing home loans in a bid to reduce risky lending.
Page 3: The High Court has sent a protracted 15-year legal dispute between a Perth real estate agent and his wife back to the Family Court for retrial, finding it “particularly troubling” that secret communications between the trial judge and the wife’s barrister were not disclosed.
Page 4: Australian Chamber of Commerce and Industry chief executive Andrew McKellar has slammed the Morrison government’s closure of international borders to returning Australians as “one of the greatest public policy failures in this country’s history”.
Page 7: NSW Premier Dominic Perrottet will increase the role of the state’s chief economist in a remodelled crisis cabinet that will be rebranded to emphasise the state’s economic recovery and planned reopening, rather than emergency Covid-19 management.
Australian Industry Group chief executive Innes Willox hopes the elevation of Dominic Perrottet as NSW Premier will provide the “much-needed impetus” to reopen the national debate over tax reform and intergovernmental financial arrangements.
Page 13: Thermal coal and LNG prices have both hit fresh peaks as the global energy crisis bites ahead of the northern winter, but Australian coal and natural gas producers may struggle to lift supply to take advantage of surging prices.
Page 17: Australia’s biggest insurer has warned the country risks a catastrophically expensive future, with natural disasters set to cost the country $73bn a year by 2060.
Page 18: Fantasia Holdings, a developer of luxury apartments in China, says it didn’t make a $US206m ($284m) US dollar bond payment that was due on October 4, adding to the malaise surrounding the country’s highly indebted property companies
The West Australian
Page 1: A trial involving an Aboriginal woman allegedly racially abused at a BHP mine site could see WA mining companies held to account for inappropriate behaviour by employees.
Finance Minister Simon Birmingham has confirmed a nuclear-powered submarine will likely be stationed in Perth for training and use in Australia — before the acquisition of eight subs announced as part of the controversial AUKUS deal.
Page 3: Vaccine Commander Chris Dawson has been set a “deadline” of the end of the year to immunise 80 per cent of WA’s eligible population against COVID-19 — but wants to “achieve much higher than that”.
Page 11: Finance Minister Simon Birmingham has conceded the national economy is better off with WA’s hard border in place.
Page 20: Coogee Chemicals, one of WA’s biggest privately owned industrial groups, could support a potential new High Court challenge against the State’s hard borders, describing them as “an abuse of parliamentary power”.
WA truckies have warned of delays in hauling mining and farm equipment back to WA, after three ships were diverted east because picket lines at Fremantle prevented them from being unloaded.
Chevron has dismissed criticism from the likes of Andrew Forrest, insisting that its carbon capture and storage system at the huge Gorgon gas project on Barrow Island has an important role to play in cutting emissions.
Page 53: Shipbuilder Austal has signed a deal with the US Navy to build two steel vessels, a contract worth almost $200 million.
Page 54: Sydney-based builder Adco has taken over the landmark Forrest Hall project in Crawley that stopped early in the August implosion of Jaxon Construction.
Lithium prices extended their yearlong rally as surging demand spurs a shortfall of the key battery material.
Page 54: A2 Milk’s shares fell on the ASX after Slater & Gordon filed a class action against the company.
