Industry News

The Albanese Government is delivering $250 million to accelerate the pace of Australia’s growing domestic Low Carbon Liquid Fuels (LCLF) industry. This funding is part of the $1.7 billion Future Made in Australia Innovation Fund and will be provided as grants to support pre-commercial innovation, demonstration and deployment. Low carbon liquid fuels can be produced sustainably from waste, biomass such as agricultural feedstocks, or renewable hydrogen. Australia’s domestic LCLF industry will focus on supplying sustainable aviation fuel and renewable diesel in liquid fuel-reliant sectors, including transport (aviation, heavy vehicle, rail and maritime), mining, agriculture and construction. The development of low carbon fuels will drive economic growth and jobs in regional areas, including supporting diversification in agriculture, making good use of excess feedstock from crops, sugarcane and waste products such as tallow. CSIRO projects that a LCLF industry could contribute between AUD $6 billion to $12 billion annually in direct economic…

Latest crime statistics show South Australia has recorded a 20 per cent drop in Robbery and Related Offences, with reported crimes down in every category. The rolling yearly data to January reveals the incidence of shop theft has dropped for the third time in a row, down a further five per cent, with almost 1000 less offences reported. It follows the expansion of anti-shoplifting initiative Operation Measure last month, with an additional eight officers added to its ranks. The boost to frontline resources was made possible through the Malinauskas Labor Government’s $82 million investment in 189 Police Security Officers, who are replacing sworn officers in frontline roles, such as custody management. The number of house break-ins has dropped for a seventh time, down five percent in the rolling year to January. Reported car theft has also decreased by 12 per cent, while theft from a vehicle is down by 20…

Seven & i is also planning an IPO for its U.S. convenience business. Seven & i Holdings Co., Ltd. today announced that Stephen Hayes Dacus, currently chairman of the board as the lead independent outside director, will succeed Ryuichi Isaka as president & representative director and CEO, according to a press release. The appointment will be effective after the group’s Annual General Meeting. Isaka will continue to serve as a senior advisor to the group. Dacus has been a member of the board since May 2022 and was appointed chairman and lead independent outside director in April 2024. During his tenure he has had an integral role in overseeing the group’s value creation strategy as chairman of the strategy committee and chairman of the special committee. Dacus is a “fluent Japanese speaker with significant executive, financial and operational experience working with consumer and retail companies in Japan and globally,” said Seven…

The P&C community celebrated International Women’s Day (IWD) at an IWD event hosted by Business Chicks Australia in Melbourne. The event, which was well-represented by the Australian Association of Convenience Stores (AACS) with around 30 members attending, brought together industry professionals to hear from inspiring speakers who shared their experiences and insights on supporting women in business. The event featured a powerful lineup of speakers, including Sarah Grynberg, Rachel Griffiths, Azure Antoinette, and Brihony Dawson. Corinne Barclay, Director at CMA, who hosted the AACS contingent alongside Camilla Warnock, said she believes IWD is a day to reflect on how far women have come in their quest for equality, and at the same time, it shows how much more there is to do. “The theme for this year, ‘Accelerate action,’ was a key message and is a perfect way to highlight that we need to keep moving along and driving change,…

Seven & i told its shareholders the search will mitigate U.S. antitrust risk. After announcing yesterday that Seven & i Holdings and Alimentation Couche-Tard (ACT) were searching for potential buyers for some stores to mitigate U.S. antitrust risk if the Canadian owner of Circle K were to take over the Japanese retailer, ACT said today “it is confident there is a ‘clear path’ to overcome U.S. regulatory hurdles in its proposed $47 billion acquisition of Japan’s Seven & i and expressed frustration at the 7-Eleven owner’s ‘limited engagement,’” reported Reuters.  “We have reiterated several times over the past few months that we intend to be friendly and persistent in pursuing a transaction,” Couche-Tard said in a statement, rejecting the Japanese firm’s position that the “potentially transformational deal faces major regulatory hurdles.”  “We have done that in the face of significant frustration and distraction,” it added.  Couche-Tard said it had been working with Seven & i…

Illegal tobacco stores are popping up around the country in what is fast becoming multi-billion dollar market for organised crime which appears to be serviced by multiple banks and fintechs for payments. A PayDay News special investigation The trade has already been linked to numerous firebombing incidents and one death. An investigation by Payday News last week revealed that a large number of illegal tobacco outlets are using card payments terminals provided by banks and fintechs to sell their illegal products which, according to experts, could have serious legal implications. While PayDay News won’t be naming these institutions in this story, we did want to point out the legal and commercial obligations on acquiring banks, fintechs and aggregators supporting illegal trade and potential money laundering in many hundreds of towns around the country. Three shops visited by Payday News last week were taking electronic payments from customers buying illegal cigarettes on…