Latest news with #Cavanough
Sydney Morning Herald
2 days ago
- Sport
- Sydney Morning Herald
Cavanough takes a trio of leading chances to Dubbo
Scone trainer Brett Cavanough is hoping to strike early at Dubbo on Sunday when he sends three good chances to the track. Cavanough will start the day when the talented Xerxes lines up in the Barnson Country Boosted Maiden Handicap (1300m). He will also have Haze in the Western Plains Automative Class 2 Handicap (1400m) and Signatories in the Pink Angels Country Boosted Benchmark 58 Handicap (1100m). Mitchell Bell will ride all three of Cavanough's gallopers at Dubbo. 'Xerxes has been racing well and only just got beaten the other day,' Cavanough said. 'He's been very good in his races. He looks perfectly suited to run well. 'He raced on the speed and held on well. He should be competitive in anything he contests.' Haze has been racing well and should be hard to hold out when racing again despite the wide alley. 'He's going well leading into this run,' Cavanough said.
The Age
2 days ago
- Sport
- The Age
Cavanough takes a trio of leading chances to Dubbo
Scone trainer Brett Cavanough is hoping to strike early at Dubbo on Sunday when he sends three good chances to the track. Cavanough will start the day when the talented Xerxes lines up in the Barnson Country Boosted Maiden Handicap (1300m). He will also have Haze in the Western Plains Automative Class 2 Handicap (1400m) and Signatories in the Pink Angels Country Boosted Benchmark 58 Handicap (1100m). Mitchell Bell will ride all three of Cavanough's gallopers at Dubbo. 'Xerxes has been racing well and only just got beaten the other day,' Cavanough said. 'He's been very good in his races. He looks perfectly suited to run well. 'He raced on the speed and held on well. He should be competitive in anything he contests.' Haze has been racing well and should be hard to hold out when racing again despite the wide alley. 'He's going well leading into this run,' Cavanough said.
Sky News AU
6 days ago
- Business
- Sky News AU
Saving thousands of local jobs amongst ‘most important' parts of Whyalla Steelworks sale, McKell Institute CEO says
Preserving thousands of local jobs and skills is one of the 'most important' aspects of the Whyalla Steelworks' potential sale, a thinktank leader has declared. BlueScope on Monday announced it was partnering with Japanese, Indian and Korean steelmakers to make a bid for the Whyalla Steelworks after it was forced into administration earlier this year. The steelworks, which employs 1,100 workers directly and supports an additional 2,000 in related industries, supplies 75 per cent of the country's structural steel and remains the only domestic producer of long steel products. Whyalla received a $2.4b government bailout package in February from the federal and South Australian governments after becoming "irredeemable" under British billionaire Sanjeev Gupta's company, GFG Alliance. About $500 million was set aside for transforming Whyalla into a green steel powerhouse. The McKell Institute's chief executive Edward Cavanough said maintaining the Whyalla Steelworks and the local industry surrounding it was critical for ensuring Australia's green steel future. 'The fact is we can't get to a green steel future if we lose the Whyalla plant in the first place,' Mr Cavanough told Business Now. 'You're not going to be able to recreate that out of thin air. 'The most important thing initially is preserving what is there, recapitalising the plant so it's actually sustainable and making sure that the skills in Whyalla aren't lost. 'If we lose all of those then there's certainly no hope for a green steel future, let alone any steel future.' He also stressed the expression of interest from the consortium, which featured major international steel makers, was a 'really positive step' for the steelworks. 'It was a really big risk by the government to intervene earlier in the year,' Mr Cavanough said. 'I think the fact that we have the likes of BlueScope putting their hand up and saying there is a future here is really, really positive.' BlueScope is joined by Japan's Nippon Steel, Indian multinational JSW Steel and Korea's POSCO in its bid to snap up Whyalla and turn it into a green steel maker. BlueScope told the ASX on Monday: 'The consortium has identified Whyalla as a prospective location for future production of lower emissions iron in Australia for both domestic and export markets, with the potential to play an important role in the decarbonisation of the global steelmaking industry." KordaMentha, an Asia-Pacific advisory firm, was appointed as the steel mill's administrator after the government forced its shutdown. The plant has been plagued with issues including frequent shutdowns of its coal-fired blast furnace, delays in necessary upgrades, and a lack of stable financial backing. The company owed tens of millions of dollars in unpaid royalties to the SA government and an additional $15 million to SA Water. Mr Gupta purchased the plant for $700m in 2017 with ambitions to transform it into a green steel plant by using hydrogen. The BlueScope-led consortium revealing its interest in acquiring Whyalla about six months after its forced administration comes as a relief for many as it originally took 17 months for Mr Gupta to purchase it.
Perth Now
7 days ago
- Business
- Perth Now
Thousands of jobs at risk in industry collapse
Thousands of Australian manufacturing jobs, particularly in regional areas, face significant risk as China intensifies investments to bolster its own manufacturing industries, a new report warns. The research by the McKell Institute reveals approximately 73,000 jobs in Australian regions reliant on refining and smelting metals are vulnerable. The report highlights the town of Port Pirie in South Australia, where state ministers have called for a federal bailout to save its lead smelter, a crucial local employer. If the smelter closes, the report estimates the town's population could drop by around 2,000 people, roughly 11 per cent, as economically productive residents and their families relocate. 'South Australia simply cannot afford to lose industrial anchors such as the Port Pirie smelter – anchors that have sustained regional communities for generations,' McKell Institute chief executive Ed Cavanough said. 'Our analysis shows that if the Port Pirie smelter were to close, the town's population could drop by around 2,000 people – that's 11 per cent – in the first year alone.' The report claims the closure of Port Pirie's smelter could spark a mass exodus from the town. NewsWire / David Mariuz Credit: News Corp Australia The report claims China's 'aggressive' industrial subsidisation, now likely exceeding its defence spending, is a major driver behind the mounting pressure on Australia's refined metals sector. In 2019, China invested an estimated $407 billion in industrial subsidies, enabling it to produce refined metals at significantly lower costs and flood global markets with cheap products, the report said. 'In the short-term, China's geoeconomic strategy is designed to onshore as much global heavy industrial capacity as possible,' Mr Cavanough said. 'In the longer-term the strategic goal is limiting the viability of critical manufacturing in competitor economies, including Australia. 'This would create a huge long-term economic advantage for China, and hobble Australia's industrial capacity.' The report calls for a cohesive national strategy to safeguard the industry. NewsWire / Dan Peled Credit: News Corp Australia Mr Cavanough said other nations are actively responding to these challenges while Australia's current approach of reacting plant by plant is unsustainable. 'Currently, the government is playing industrial whack-a-mole – working with individual refiners to preserve individual plants as they come under threat,' he said. The report urges the Albanese Government to develop a cohesive national strategy to safeguard communities reliant on the industry.
Sky News AU
03-07-2025
- Business
- Sky News AU
CPA Australia claims increasing GST could decrease income taxes
The McKell Institute's Chief Executive Ed Cavanough discusses CPA Australia's recent comment concerning increases to GST, and how such increases could reduce income tax. 'The Treasurer's been pretty clear that in this new round of tax reform … the GST is effectively off the table,' Mr Cavanough told Sky News host Paul Murray. 'Eventually, we are going to have to ramp up the GST. 'We shouldn't really be starting with what taxes we should be raising, I think we should be looking at who should have less of a load on the income tax burden.'
