Each morning we post a selection of our favourite news stories from the day’s news. These posts also give you a chance to see how we can summarise news for you.
Compo run for foreign criminals
Original article by Paul Garvey
The Australian – Page: 1 & 6 : 11-Jun-26
The High Court has rejected the federal government’s argument that it should not be liable to pay compensation to people who were held in indefinite detention. The government had contended that it should have immunity from compensation claims arising from the court’s landmark 2023 ruling in the ‘NZYQ’ case that indefinite detention is unlawful. More than 300 foreign-born criminals were released into the community as a result of that ruling. Legal experts warn that in addition to this cohort, asylum-seekers and refugees who were held in detention could also be entitled to compensation.
CORPORATES
HIGH COURT OF AUSTRALIA
One Nation’s incredibly sloppy financial reports reveal more than $1m in missing or worthless assets
Original article by Sarah Martin
The Guardian Australia – Page: Online : 11-Jun-26
Professor Matthew Pinnuck from the University of Melbourne says the quality of One Nation’s financial statements is "very poor and unprofessional", and raises questions about the party’s fitness for government. Professor Pinnuck’s comments are based on his assessment of the financial returns that One Nation lodged with Queensland’s Office of Fair Trading from 2016 to 2022; he says the financial statements show that One Nation had been bought and sold substantial assets over this period, but they had not been recorded on the party’s balance sheet. One Nation has not filed annual returns with the Office of Fair Trading since 2022.
CORPORATES
ONE NATION PARTY, QUEENSLAND. OFFICE OF FAIR TRADING, UNIVERSITY OF MELBOURNE
Non-compete clause: Taylor confidant’s shock call on One Nation
Original article by Rosie Lewis, Greg Brown, Paul Garvey
The Australian – Page: 1 & 5 : 11-Jun-26
Liberal MP Tony Pasin says the Coalition should work with One Nation to ensure that Labor is defeated at the next federal election. Pasin contends that the Liberals and One Nation should identify electorates where each party has the best chance of winning, and focus their campaigning on these seats rather than competing with each other in all electorates. Pasin says he is concerned that the Liberals and One Nation will spend the next two electoral cycles fighting each other, resulting in a "very bad Labor government" retaining office. Meanwhile, opinion is divided within the Liberals as to whether the party should direct preferences to One Nation at the next election.
CORPORATES
LIBERAL PARTY OF AUSTRALIA, ONE NATION PARTY, AUSTRALIAN LABOR PARTY
Roy Morgan Business Confidence hits a new record low of only 76.1 in May after Reserve Bank raises interest rates
Original article by Roy Morgan
Market Research Update – Page: Online : 11-Jun-26
In May 2026 Roy Morgan Business Confidence hit a new record low of 76.1 and has now fallen by 28.9pts so far during 2026. This result is 0.4pts below the previous record low reached a month ago, and 0.8 points below the pandemic low of 76.9 in April 2020. Business Confidence is also down 23.5 points from a year ago. Now 25.2% (up 1.2ppts) of respondents say their business is ‘better off’ financially than a year ago, while 44.9% (up 0.9ppts), say the business is ‘worse off’ (the highest figure for this indicator since December 2023). Just 29% (down 3.6ppts) of respondents expect the business will be ‘better off’ financially this time next year (the lowest figure for this indicator since August 2015), while 34.1% (up 4.5ppts) expect the business will be ‘worse off’ (a record high figure for this indicator). Meanwhile, just 28.8% (up 0.5ppts) of respondents say the next 12 months will be a ‘good time to invest’ in growing the business, while 50% (unchanged) say the next 12 months will be a ‘bad time to invest’. The latest Roy Morgan Business Confidence results for May are based on 1,181 detailed interviews with a cross-section of Australian businesses from each State and Territory.
CORPORATES
ROY MORGAN LIMITED
ANZ-Roy Morgan Consumer Confidence increased 2 points to 70.8 in early June – first time above 70 since early March
Original article by Roy Morgan
Market Research Update – Page: Online : 11-Jun-26
ANZ-Roy Morgan Consumer Confidence rose 2 points to 70.8 in the week to 7 June; this is the first time the index has been above the mark of 70 for over two months. However, Consumer Confidence is 15.9pts lower than a year ago (86.7), and just 0.4pts below the 2026 weekly average of 71.2. Analysis by State shows that Consumer Confidence increased in New South Wales, and Queensland, but was down slightly in Victoria, Western Australia and South Australia. Now just 15% of Australians (up 1ppt) say their families are ‘better off’ financially than this time last year, while 55% (up 1ppt) say their families are ‘worse off’. Looking forward, 22% (up 4ppts) of respondents expect their family to be ‘better off’ financially this time next year, while 43% (unchanged) expect to be ‘worse off’. Only 6% (unchanged) of respondents expect ‘good times’ for the Australian economy over the next 12 months, while 45% (up 1ppt) expect ‘bad times’. Meanwhile, just 19% (up 3ppts) of Australians say now is a ‘good time to buy’ major household items, while 45% (unchanged) say now is a ‘bad time to buy’.
CORPORATES
ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ
ETF giants rush to cash in on SpaceX hype
Original article by Alex Gluyas
The Australian Financial Review – Page: 21 : 11-Jun-26
Data from Reuters shows that investors have sought to buy $US250bn worth of shares in SpaceX via its highly-anticipated IPO. In constrast, the Elon Musk-backed space technology group is seeking to raise just $US75bn from investors. Meanwhile, a growing number of companies that offer exchange-traded funds are seeking to capitalise in the SpaceX float. Global X has launched its Space Tech ETF in Australia ahead of SpaceX’s sharemarket debut this week, while Betashares established its Space Industry ETF in May. However, VanEck and ETF Shares have both ruled out launching a similar product in Australia.
CORPORATES
SPACE EXPLORATION TECHNOLOGIES CORPORATION, GLOBAL X ETFS AUSTRALIA, GLOBAL X SPACE TECH ETF – ASX MOON, BETASHARES CAPITAL LIMITED, BETASHARES SPACE INDUSTRY ETF – ASX RCKT
Southern Cross Media to cut at least 200 jobs
Original article by Angelica Snowden, John Stensholt
The Australian – Page: 2 : 11-Jun-26
Sources have indicated that proposd job cuts at Southern Cross Media Group could generate cost savings of about $25m. The media company is believed to have commenced a consultation process with its staff, and the Seven West Media division – which includes the Seven Network and The West Australian – is expected to bear the brunt of the job losses. Cassie Derrick from the Media, Entertainment & Arts Alliance says the mooted loss of about 200 jobs highlights the growing instability facing workers in Australia’s media sector. Southern Cross CEO Rohan Lund recently identified investment in news and sport as a priority for the group.
CORPORATES
SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SEVEN WEST MEDIA LIMITED, SEVEN NETWORK LIMITED, WEST AUSTRALIAN NEWSPAPERS HOLDINGS LIMITED, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE
Unions putting squeeze on BHP
Original article by Brad Thompson
The Australian – Page: 13 & 14 : 11-Jun-26
The leaders of the Electrical Trades Union and the Australian Manufacturing Workers’ Union expect their members to vote in favour of industrial action at BHP’s port operations in Western Australia. The outcome of the ballot will be known later today, and halting iron ore shipments from Port Hedland for up to 24 hours would cost BHP about $126m. The Australian Workers’ Union and the Mining & Energy Union are also threatening to join the strike action, while BHP is facing separate industrial action by high-voltage electrical workers at its Pilbara operations.
CORPORATES
BHP GROUP LIMITED – ASX BHP, ELECTRICAL TRADES UNION, AUSTRALIAN MANUFACTURING WORKERS’ UNION, AUSTRALIAN WORKERS’ UNION, MINING AND ENERGY UNION
Northern Star slump sparked takeover offers
Original article by Mark Wembridge
The Australian Financial Review – Page: 17 : 11-Jun-26
Northern Star Resources’ share price has fallen by about 25 per cent so far in 2026, despite the rising price of gold. Chairman Michael Chaney has revealed that Northern Star’s underperformance has resulted in it being approached by several potential suitors during the last year, but such discussions did not proceed because they were not seemed to be in the best interests of shareholders. Chaney has also responded to a push by activist investor Elliott Investment Management to sell assets or the entire company; he says Northern Star’s board is of the view that it is not the right time to consider the latter option. He has also acknowledged that Northern Star has itself considered selling some mines, but decided against this; however, Chaney says all assets will be subject to regular review.
CORPORATES
NORTHERN STAR RESOURCES LIMITED – ASX NST, ELLIOTT INVESTMENT MANAGEMENT LP
ANZ chief urges back to future for banks
Original article by Angira Bharadwaj, Jonathan Shapiro
The Australian Financial Review – Page: 15 : 11-Jun-26
Australia’s major banks largely withdrew from sectors such as wealth management and insurance in the wake of the Hayne royal commission. However, the ANZ Bank’s CEO Nuno Matos contends that they should re-enter these sectors in order to boost profitability and address the sharp decline in their return on capital over the last decade or so. Meanwhile, Matos expects the federal government’s budget changes to the capital gains tax discount and negative gearing to result in lower growth in demand for both home loans and lending to property investors
CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY
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