Australia News Today: Construction Contracts Unworkable; Defense Costs Blow-Out – Bloomberg

Bloomberg Law speaks with prominent attorneys and legal scholars, analyzing major legal issues and cases in the news. The show examines all aspects of the legal profession, from intellectual property to criminal law, from bankruptcy to securities law, drawing on the deep research tools of BloombergLaw.com and BloombergBNA.com. Reporters from Bloomberg’s Washington, D.C. bureau are prominently featured as they offer analysis of policy and legal issues.
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Hello, it’s Ainsley here with a roundup of the morning’s news to kick your day off.  

Today’s must-reads:
Unusable. Infrastructure construction contracts signed before the pandemic have become widely unworkable because of the surging cost of labor and materials, supply-chain blockages and difficulties in securing manpower, according to builder Webuild. The firm is wrestling with a 2019 agreement with the Australian government to construct the country’s largest hydroelectric power station for A$5.1 billion. The Snowy 2.0 project has come to highlight the challenges of completing large-scale projects on terms that were struck before Covid-19, and before Russia invaded Ukraine.


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