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The Australian Business Review
 

Good morning,

Western Australia’s powerful resources industry has issued a massive rebuke of the Albanese government’s green agenda and industrial relations policies in the countdown to the federal election.

Meanwhile, the federal government’s proposed tax on super funds over $3m could cost the Labor the next election, influential fund manager Geoff Wilson believes.

And young female staff at costume jewellery chain Lovisa faced a hostile work environment , worked hours outside their paid shifts, undertook training in their own time and were forced to adhere to “unrealistic and unsafe dress standards” such as wearing open-toe and high-heel shoes in the store, a class-action lawsuit claims.

Perry Williams
Business editor
The markets


Making news this morning
1
Super fund expenses outpacing asset growth
The prudential regulator says super funds’ operating expenses rose sharply to $12.7bn in 2024, driven by a sharp increase in the volume spent on advice.
2
Race sponsor hit with huge debt claim in Supreme Court
The Adelaide 500’s major sponsor, Vailo, faces an enormous claim for allegedly outstanding lease payments, in what is tech founder Aaron Hickmann’s latest stoush with creditors.
Editor's picks
MARGIN CALL
Wesfarmers’ Catch killed off as boss swans in Switzerland
Rob Scott was conspicuous by his absence as yet another of Wesfarmers’ dud investments was put to the sword but why he was schmoozing at the Davos world forum is a head scratcher.
By YONI BASHAN, NICK EVANS
Commentary
Different this time: Stocks to buy as interest rates fall
By DAVID ROGERS
Markets Editor
Stocks are soaring as rate cuts loom but value is far from universal. That’s why the nation’s oldest value fund has cast its gaze beyond the big banks and iron ore miners.
Government must focus on serious productivity growth
By REBECCA TOMKINSON
How does a nation as rich in minerals, energy and skills as Australia lose its standing as a global resources hotspot?
DataRoom
Coal price not right as Kestrel mine owners seek $4.8bn pay dirt
The owners of the Kestrel coal mine will have to convince buyers to pay about $4.8bn for the mine, but the coal price has fallen about 20 per cent since it was first set to hit the market.
St John of God in discussions over Healthscope leases
The not-for-profit St John of God Health Care has discussed with Healthco Healthcare and Wellness REIT taking over some real estate leases from tenant Healthscope.
Last roll of lenders’ dice coming for Star Entertainment
Star Entertainment could be in voluntary administration for just weeks while tax negotiations with government play out.

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