Liontown Resources ready to roar with $450m raise
King of the lithium jungle Liontown Resources has enlisted some big-name investment banks for a mega $450 million capital raise, which is poised to kick off today. The Fin
Miners confident with less than 5pc unvaccinated ahead of today’s mandate deadline
Industry sources estimate less than 5 per cent of WA’s resources workforce remains unvaccinated ahead of today’s government-mandated deadline, with companies not expecting any impact on their operations. The West
Surging super could eliminate income deficit
Superannuation funds are piling into global shares and infrastructure at such a scale that Australia could soon collect more income from overseas than it pays out to foreign investors. The Fin
Morrison takes on the wharfies
The Prime Minister has threatened to intervene and break the industrial gridlock on the nation’s ports unless the Maritime Union of Australia and Patrick Terminals negotiate a resolution to their months-long dispute. The Fin
Farmers go gangbusters with grain
Australian grain growers are tipped to harvest their biggest winter crop on record despite experiencing severe flooding and mice plagues. The Aus
Big Oil Search investors baulk at $21b merger
At least two big institutional investors in Oil Search have resolved to vote their shares against the $21 billion merger deal with Santos, with one suggesting the ‘‘No’’ vote at next week’s meeting could get close to derailing the deal. The Fin
Food-truck drivers and toilet-hire staff in construction mandate
The COVID vaccination mandate for WA’s construction industry extends to anyone visiting a building site, from developers to food-van drivers and even portaloo-hire companies. The West
Stock picker Packer pockets pretty profit
James Packer’s private company has made a $500m profit thanks in part to a string of American technology stock investments, in a preview of what the billionaire may do with the funds he would earn from selling his long-held stake in Crown Resorts. The Aus
Bombshell investigation into sexual harassment crisis in our Parliament
Australia’s pinnacle of democracy — its Federal Parliament — has been exposed in a landmark report as a predatory “boys’ club” where four out of ten women have been sexually harassed because of a power imbalance, lack of accountability, gender disparity and booze-soaked work culture. The West
Aboriginal heritage conscience vote push
Former Rio Tinto boss Sam Walsh has backed calls to rework proposed Aboriginal heritage laws — saying “white people don’t really get” sacred Indigenous sites — and revealed plans to lobby the WA Government for a conscience vote. The West
The Australian Financial Review
Page 1: The Prime Minister has threatened to intervene and break the industrial gridlock on the nation’s ports unless the Maritime Union of Australia and Patrick Terminals negotiate a resolution to their months-long dispute.
Page 3: Political leaders will have to set 10-year gender equality targets to end a ‘‘boys club’’ culture and must crack down on excessive drinking as part of a workplace overhaul recommended by a review that found one in three parliamentary staffers have been sexually harassed.
Page 4: International students have coined the phrase ‘‘lollipop’’ to describe the many promises made by the federal government over the past year concerning their return, only to have their hopes quickly dashed.
Page 7: Major technology companies will be put in the dock, with the Morrison government to establish a sweeping inquiry into how they allow ‘‘toxic’’ material to be published and distributed on social media.
Page 8: Superannuation funds are piling into global shares and infrastructure at such a scale that Australia could soon collect more income from overseas than it pays out to foreign investors.
Page 13: At least two big institutional investors in Oil Search have resolved to vote their shares against the $21 billion merger deal with Santos, with one suggesting the ‘‘No’’ vote at next week’s meeting could get close to derailing the deal.
Page 14: King of the lithium jungle Liontown Resources has enlisted some big-name investment banks for a mega $450 million capital raise, which is poised to kick off today.
Page 16: Companies owned by billionaire businessman Anthony Pratt as well as waste management group Cleanaway, Coles’ liquor operations and concrete supplier Holcim still offer supply chain finance schemes and take longer than 30 days to pay suppliers, a new register has revealed.
Brazilian miner Vale says it could be 2024 before its iron ore division is producing at a long-targeted rate of 400 million tonnes per year, implying slower supply growth from the biggest rival to Australia’s biggest export industry.
Andrew Forrest’s LNG import venture in Port Kembla has urged east coast gas buyers to commit to gas from the venture to head off the shortages they have been warning about after taking another step towards starting imports in 2023.
Page 19: Netflix will begin to declare its estimated $1 billion-plus revenue it makes from an estimated 6 million Australian subscribers each year to the Australian tax authorities from the new year.
The Australian
Page 1: Taiwan has thanked Australia for bluntly telling China’s President Xi Jinping not to invade it and declared that the Morrison government’s strong comments are helping avoid conflict in the region.
James Packer’s private company has made a $500m profit thanks in part to a string of American technology stock investments, in a preview of what the billionaire may do with the funds he would earn from selling his long-held stake in Crown Resorts.
Page 2: A booming trade surplus and a surge in government spending will help offset what economists still anticipate will be the second largest economic contraction on record through a September quarter devastated by Delta lockdowns.
Australian grain growers are tipped to harvest their biggest winter crop on record despite experiencing severe flooding and mice plagues.
Page 13: Westpac chief executive Peter King has set a “fix-it” date of 2023 for the bank after it agreed to pay fines totalling $113m for a litany of compliance failures, including charging fees to deceased customers.
Page 14: AGL Energy is believed to have hired a raft of investment banks to tap the bond market in the US for about $500m.
Page 15: Collins Foods boss Drew O’Malley believes the KFC brand in Australia has never been stronger to take market share from rival fast-food chains while its burgeoning European restaurant network is providing further fuel for its growth.
The boss of Australia’s largest construction company, CIMIC, has intervened in an escalating standoff over millions of dollars of unpaid wages at its former Middle East offshoot after being targeted on LinkedIn by irate workers complaining of “deep debt” and being unable to feed their families.
Page 16: AMP will look to beef up its bank and platforms businesses and will seek out partnerships as part of its growth strategy in the coming years as it eyes the completion of the capital private markets business demerger in mid-2022.
Page 17: Some of Australia’s biggest corporations are still paying a substantial portion of their small business suppliers on controversial supplychain financing arrangements, according to the commonwealth’s new payment times register.
The West Australian
Page 4: Australia’s pinnacle of democracy — its Federal Parliament — has been exposed in a landmark report as a predatory “boys’ club” where four out of ten women have been sexually harassed because of a power imbalance, lack of accountability, gender disparity and booze-soaked work culture.
Page 7: State-of-the-art technology may have finally helped pinpoint where flight MH370 crashed into the Indian Ocean — and its final resting place.
Page 8: The COVID vaccination mandate for WA’s construction industry extends to anyone visiting a building site, from developers to food-van drivers and even portaloo-hire companies.
Page 14: Another WA Liberal Party branch has joined a growing push to expel Christian conservative politician Nick Goiran from the party over his involvement in The Clan.
Business: Former Rio Tinto boss Sam Walsh has backed calls to rework proposed Aboriginal heritage laws — saying “white people don’t really get” sacred Indigenous sites — and revealed plans to lobby the WA Government for a conscience vote.
Industry sources estimate less than 5 per cent of WA’s resources workforce remains unvaccinated ahead of today’s government-mandated deadline, with companies not expecting any impact on their operations.
Perth-based medicinal cannabis company Creso Pharma has entered a trading halt pending a “material licence upgrade”, days after revealing it had been served with a notice by the corporate regulator.
The State Government has been urged to temper a potential royalty hike on WA potash production that has angered the fledgling industry’s backers and threatens to cut expected returns.
Australia’s oldest dairy company Brownes has moved to shore up the State’s critically short milk supply and stem the exodus of dairy farmers from the industry by promising them their biggest price rise in recent history.
