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As it happened: Richard White steps down as WiseTech CEO; Lidia Thorpe stands firm as resignation calls escalate

Josefine Ganko and Gemma Grant
Updated ,first published
Pinned post from 4.56pm on Oct 24, 2024
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Richard White stands down as CEO at WiseTech

By David Swan

Richard White, the embattled chief executive of WiseTech Global, has resigned after a string of reporting by this masthead into alleged inappropriate behaviour.

White said in a statement that he would resign, effective immediately, and “transition to a new role” after a short period of leave.

“It has been a challenging time for me personally, my family and close friends, and for the company that I have built and truly love,” he told investors.

“I want to assure all those who have supported WiseTech, as customers, colleagues and shareholders, that I remain absolutely committed to seeing this incredible organisation continue to thrive and grow in the coming years.

“I strongly believe that now is the right time for me to make this transition, and the board agrees. This new role will allow me to focus on product and business growth, to create even greater value for shareholders and customers over the long term.”

White will continue to be paid $1 million a year, as per his current remuneration agreement.

More to come.

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What we covered today

By Gemma Grant

Thanks for reading the national news blog. This is where we’ll end today’s coverage.

To conclude, here’s a look back at the day’s major stories:

  • Richard White, the embattled chief executive of WiseTech Global, has resigned after a string of reporting by this masthead into alleged inappropriate behaviour.
  • Lidia Thorpe says she misspoke when she pledged allegiance to the “hairs” of Queen Elizabeth during her swearing-in to the Senate in 2022, as she continues to resist calls for her resignation.
  • Prime Minister Anthony Albanese rebuffed the issue of slavery reparations and reiterated his focus on climate change when he arrived in Samoa for the Commonwealth Heads of Government Meeting.
  • More than $14 million in funding has been committed to the fight against scammers under a new federal government policy that aims to ensure victims can seek compensation.
  • In NSW, the state government has announced a financial support package for residents and small businesses impacted by the major electrical outage in the state’s far west.
  • Also in NSW, three men have been convicted and fined after they were found guilty of performing Nazi salutes outside the Sydney Jewish Museum last year.
  • In Victoria, Premier Jacinta Allan has vowed to make it easier for Victorians to build two homes on one block under a significant planning reform.

Thanks again for joining us. This is Gemma Grant, signing off.

Switch to nuclear power could take until late 2030s, inquiry hears

By Jennifer Dudley-Nicholson

Nuclear power plants could take up to 15 years to establish in Australia and facilities to dispose of high-level nuclear waste twice as long, an inquiry has heard.

Waste produced by the power plants might have to be stored at the nuclear sites in the meantime, experts said, until “deep geological facilities” could be developed.

The forecasts were revealed at the Nuclear Power Generation inquiry in Canberra on today, which heard government agencies and departments had started to analyse and assess nuclear power proposals for Australia.

The probe comes five months after federal Liberal leader Peter Dutton announced plans to establish seven nuclear power plants across the country if his party won government at the next election.

Pinned post from 4.56pm on Oct 24, 2024

Richard White stands down as CEO at WiseTech

By David Swan

Richard White, the embattled chief executive of WiseTech Global, has resigned after a string of reporting by this masthead into alleged inappropriate behaviour.

White said in a statement that he would resign, effective immediately, and “transition to a new role” after a short period of leave.

“It has been a challenging time for me personally, my family and close friends, and for the company that I have built and truly love,” he told investors.

“I want to assure all those who have supported WiseTech, as customers, colleagues and shareholders, that I remain absolutely committed to seeing this incredible organisation continue to thrive and grow in the coming years.

“I strongly believe that now is the right time for me to make this transition, and the board agrees. This new role will allow me to focus on product and business growth, to create even greater value for shareholders and customers over the long term.”

White will continue to be paid $1 million a year, as per his current remuneration agreement.

More to come.

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Clinton weaves his magic at Harris event in Phoenix

By Michael Koziol

There is still something magical about being in the presence of Bill Clinton, the boy from Arkansas whose famous charisma propelled him to become America’s first Baby Boomer president in 1992.

That charm was on display again on Thursday (AEDT) as he addressed black supporters of vice president Kamala Harris in Phoenix, Arizona – a state he won in 1996, becoming the first Democrat presidential candidate to do so in 50 years.

Former president Bill Clinton at an event for black voters in Phoenix, Arizona.AP

President Joe Biden did it again in 2020, picking up the 11 electoral college votes from a state Clinton said he had watched “with joy” as it became more diverse and its people more empowered.

Clinton had the small crowd cackling as he lampooned the supposedly “tough” Donald Trump and J.D. Vance for avoiding a second TV debate against Harris. “The one thing they decided not to do, for all their macho talk, those boys didn’t want to get anywhere near another debate,” he said.

Greens back Thorpe, Coalition continues call for challenge

By Gemma Grant

A member of Lidia Thorpe’s former party has expressed his support for the independent senator, as the Coalition continues to call for her seat in the upper house to be challenged.

Speaking on ABC’s Afternoon Briefing, Greens senator Peter Whish-Wilson said Thorpe’s position does not warrant examination.

“I think it was an appropriate response to a situation that a lot of people felt very deeply about,” said Whish-Wilson.

“It’s her right as an Indigenous woman and an Australian citizen and as a senator to raise these issues.”

Trio guilty of Nazi salutes outside Sydney Jewish Museum

By Sarah McPhee and Frances Howe

To NSW now, where three men have been convicted and fined after they were found guilty of performing Nazi salutes outside the Sydney Jewish Museum last year.

Ryan Marshall, Anthony Raymond Mitchell and Daniel Muston each pleaded not guilty to displaying a Nazi symbol in public without reasonable excuse, related to an incident in Darlinghurst on October 13, 2023.

Giving her decision in Downing Centre Local Court this afternoon, magistrate Jennifer Atkinson found all three men guilty. She said the trio knew what they were doing, but accepted it was not planned, and that they were unlikely to reoffend. The three men were convicted and fined between $500 and $1500.

Anthony Mitchell leaving Downing Centre court in 2023.Rhett Wyman

“We have to say to members of our community, ‘this behaviour is not acceptable’,” the magistrate said, noting that it was a relatively new law.

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Victorian owners to be allowed to subdivide without a building permit

By Kieran Rooney

To Victoria now, where Premier Jacinta Allan has vowed to make it easier for Victorians to build two homes on one block under a significant planning reform.

Speaking on Thursday at a lunch hosted by the Melbourne Press Club, Allan said the next announcement in her week of housing policies would be to streamline the process of subdividing lots.

Victorian Premier Jacinta Allan.Jason South

She said Victorian law once allowed property owners to subdivide without a building permit, but this was removed by the Kennett government.

The Allan government will consider three options on how to restore this right into planning laws.

Banks at odds over easing lending restrictions

By Jacob Shteyman

Australia’s biggest banks are split on whether it should be easier to get a home loan, amid warnings that changes to lending regulations could send more borrowers into financial strife.

Prospective home owners would have more buying power if rules restricting access to mortgages were more flexible, NAB and the peak banking body say.

The financial regulator, APRA, requires borrowers to show they can afford a 3 per cent interest rate rise as a buffer against monetary policy shocks or a drop in earnings.

While it was an important mechanism to protect the financial system, modest changes to the buffer for first home buyers would help boost their borrowing power, NAB executive Andy Kerr told a parliamentary inquiry examining the financial system’s impact on home ownership.

Albanese arrives in Samoa, rebuffs reparation talks

By Gemma Grant

Prime Minister Anthony Albanese has rebuffed the issue of slavery reparations and reiterated his focus on climate change as he arrives in Samoa for the Commonwealth Heads of Government Meeting (CHOGM).

When asked whether he agreed with the belief of UK Prime Minister Sir Keir Starmer that reparations should not be a focus of discussions, Albanese said that was “a matter for the UK government”.

“Certainly, the focus that I bring to the next couple of days will be engaging on climate change, also engaging on economic development,” he said.

“Climate change is, of course, an existential threat to countries like Tuvalu and Kiribati … So whenever we’re engaged in the Pacific, that is front and centre.”

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CBA, CSL help spark ASX rebound; Miners slide

By Hannah Hammoud

The Australian sharemarket has erased its early losses, led higher by financial and healthcare stocks, including index heavyweights CBA and CSL.

The S&P/ASX 200 has rebounded from a dour opening, increasing by 10.50 points, or 0.1 per cent, to 8226.50 points at 12.30pm AEDT, with seven of the bourse’s 11 industry sectors increasing.

The healthcare sector is the best performing sector, up 1 per cent, with Australia’s largest health company, CSL recording a 1.1 per cent gain. A 1.2 per cent increase from CBA has helped lift the financial sector, which is up by 0.6 per cent, as well as ANZ (1.1 per cent) and NAB (0.8 per cent).

The materials sector is among the biggest losers, down 0.8 per cent, as iron ore heavyweights BHP and Rio Tinto fell 0.7 per cent and 0.6 per cent, respectively.

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