Chevron Deadlock: Australia Briefing

Chevron Deadlock: Australia Briefing

Hello, it’s Matt here basking in a lovely Melbourne spring morning. Apple is revealing a new iPhone later today, but first…

Today’s must-reads:
• Chevron’s labor dispute gets messier
• Ramsay shortlists bidders for hospital unit
• UBS is cutting jobs

Two key unions will oppose Chevron’s attempt to resolve a wage dispute at a hearing with Australia’s labor regulator today, in a bid to continue strikes until an agreement is made. Industrial action at Chevron’s operations — which supplied about 7% of the world’s LNG last year — started Friday, sending benchmark prices soaring.

UBS is cutting Asia wealth-management jobs in the low hundreds, mostly in Hong Kong and Singapore, just months after completing its takeover of rival Credit Suisse. The lender plans to keep the majority of private bankers in Australia and India for now.

Australia’s biggest private hospital operator, Ramsay Health Care, and Malaysian conglomerate Sime Darby Bhd. have shortlisted candidates for the sale of their Southeast Asian hospital unit, which could fetch about $1.5 billion in a deal, according to people with knowledge of the matter.

Australia’s government finally secured support for its A$10 billion housing investment fund that aims to build 30,000 new homes over the next five years. The deal came as voters grow more dissatisfied with Prime Minister Anthony Albanese amid a cost of living crisis. Across the pond, voters are also fed up with New Zealand’s .

If you think getting your caffeine fix in plastic pouches rather than a cup is saving the planet, think again, writes Bloomberg Opinion’s David Fickling.

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Chevron Deadlock: Australia Briefing

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