PM to push US over TPP
Prime Minister Malcolm Turnbull will tell United States congressional leaders and policymakers this week that commerce and trade are as powerful as ‘‘ships and planes’’ when it comes to exerting influence in the Asia-Pacific, as he seeks to breathe life into the Trans-Pacific Partnership. The Fin
‘Skulduggery’ boosts company profits
Veteran investor Peter Morgan has warned that top companies are using accounting ‘‘skulduggery’’ to boost profits and bonuses and hide more than $26 billion in write-downs in their latest results. The Fin
Medibank’s $40m offer to customers
An exodus of policyholders which threatens to slowly undermine the long-term profits of Australia’s largest health insurer, Medibank Private, has prompted the firm to roll out the first of several new carrots to try to rebuild faith in its products and service and win back customers. The Fin
ATO’s push for data sharing stirs fears
The Australian Taxation Office is pushing for a review of confidentiality rules that restrict the sharing of personal data across government, warning some of the laws are decades old. The Aus
TV networks on brink of ad-spending revival
After several years of anaemic growth levels in the frenzied television sales period known as the up-fronts, the three main commercial broadcasters are poised for a surprisingly strong performance in the $3.4 billion market. The Aus
Cabinet disarray in battle for top job
Dean Nalder could last night count on the support of a dozen or fewer Liberal MPs in the 46-member party room for his leadership tilt at the Premier. The West
Ellendale liquidator bid fails
The Federal Court has rejected a bid by ASX-listed Kimberley Diamonds to examine the liquidators of its failed Ellendale diamond mine in the West Kimberley, slamming the move as an “abuse of process”. The West
The Australian Financial Review
Page 1: Prime Minister Malcolm Turnbull will tell United States congressional leaders and policymakers this week that commerce and trade are as powerful as ‘‘ships and planes’’ when it comes to exerting influence in the Asia-Pacific, as he seeks to breathe life into the Trans-Pacific Partnership.
High-profile fund managers Hugh Giddy and Anton Tagliaferro have taken a stand against the pursuit of ‘‘extreme’’ monetary policy by asking new Reserve Bank of Australia governor Philip Lowe to resist participating in a currency war and to end interest rate cuts.
Page 2: Coalition backbenchers, emboldened by their government’s partial back-down on superannuation, are now arguing for a sugar tax and changes to other taxes including those on tobacco and backpackers.
Page 3: Trade Minister Steve Ciobo will tell a Hong Kong audience that the government could change its guidelines on foreign investment in critical infrastructure to make it clear Australia doesn’t discriminate against Chinese investors.
Page 7: Nick Xenophon is pushing for a crackdown on money laundering in gambling venues after a Chinese-Australian businessman allegedly washed $850 million through Melbourne’s Crown Casino.
Labor has accused the government and banks of colluding to avoid scrutiny by scheduling a planned inquiry during the banks’ ‘‘blackout’’ period ahead of results announcements.
Page 8: Veteran investor Peter Morgan has warned that top companies are using accounting ‘‘skulduggery’’ to boost profits and bonuses and hide more than $26 billion in write-downs in their latest results.
Page 9: Economists on Wall Street and traders are betting the US Federal Reserve will probably keep interest rates steady this week, meaning that any September tightening of monetary policy would shock global financial markets.
Page 13: The Bank of Japan is at a crossroads, and the direction it takes this week will help determine the next phase of the era of ultra-loose monetary policies that has defined the post-GFC investment landscape and underpinned financial asset prices.
Page 15: An exodus of policyholders which threatens to slowly undermine the long-term profits of Australia’s largest health insurer, Medibank Private, has prompted the firm to roll out the first of several new carrots to try to rebuild faith in its products and service and win back customers.
The Australian operations of Mitsubishi Motors produced a strong annual profit of $73.5 million using an importer-only model, in a potential signpost for Ford as it prepares to shutter its local car making on October 7.
Page 16: Just when you thought they had been written off, resource stocks have come back into vogue with force, and fund managers are rotating back into the sector following hints China is on the growth path again.
Page 17: The head of the Superannuation Complaints Tribunal, Helen Davis, says the dispute resolution body should be given more funding and not merged with other financial services dispute bodies as is being considered by a review initiated by the federal government.
A coalition of 16 consumer groups has called for the Code of Banking Practice to be strengthened to ensure banks cannot ride roughshod over their most vulnerable customers.
Page 18: Peer-to-peer lender SocietyOne is looking for a new chief marketing officer following the departure of star recruit Mitch Harad, while co-founder Matt Symons has been shifted to nonexecutive director as the high-profile fintech upgrades its lending forecasts and attracts more institutional capital onto its internet platform.
Page 19: A period of high anxiety for investors will come to a head this week as monetary policymakers in the US and Japan meet to announce their latest rates decisions and investors are increasingly anxious that the multi-year tailwind of ultra-easy money may be nearing its end.
The Australian
Page 1: A large group of powerful health industry players met at the Hellenic Club in the Canberra suburb of Woden on March 29. It was their fourth meeting for the year, with medical experts, lobby groups, health fund executives, consultants and numerous federal health bureaucrats arguing over an estimated $800 million in savings for consumers.
Page 4: The controversial usage charge for the National Broadband Network could create a “big bottleneck” that slows download speeds and limits the benefits of the nation’s biggest infrastructure project, internet providers have warned.
Page 17: The Australian Taxation Office is pushing for a review of confidentiality rules that restrict the sharing of personal data across government, warning some of the laws are decades old.
Page 19: The world’s leading over-the-counter healthcare products manufacturer plans to tailor more of its global brands for Australian consumers and push its products through the big box chemist chains.
LNG powerhouse Qatar is pushing its massive export facilities at beyond capacity production levels as it moves to protect market share from Australia and other upstarts amid low prices, in a move analysts have described as similar to Saudi Arabia’s tactics in oil.
Page 20: Westpac institutional banking chief Lyn Cobley says she’s “comfortable” with the health of the loan book after a bumpy year, claiming many customers were successfully transforming their operations with help from a weaker currency and higher commodity prices.
Page 21: West Australia-based funds manager Australasian Property Investments is looking to expand its business with the launch of a new trust that will buy the $55.8 million Joondalup Gate retail centre in Perth’s north.
Page 23: After several years of anaemic growth levels in the frenzied television sales period known as the up-fronts, the three main commercial broadcasters are poised for a surprisingly strong performance in the $3.4 billion market.
Page 25: New Nine Entertainment chief financial officer Greg Barnes is happy the network bypassed the opportunity to broadcast the Rio de Janeiro Olympics and believes the event is no longer an effective launching pad for programming.
The West Australian
Page 1: Dean Nalder could last night count on the support of a dozen or fewer Liberal MPs in the 46-member party room for his leadership tilt at the Premier.
Page 7: There is strong public support, including from a majority of Liberal voters, for the Perth Freight Link project which has torn apart the Barnett Government’s Cabinet and threatened Federal-State relations.
Page 11: It has been talked about in various iterations for more than 30 years but yesterday was the strongest indication yet the Ocean Reef marina project could one day be more than an ambitious vision.
Page 48: The Federal Court has rejected a bid by ASX-listed Kimberley Diamonds to examine the liquidators of its failed Ellendale diamond mine in the West Kimberley, slamming the move as an “abuse of process”.
Wesfarmers chief executive Richard Goyder has warned shareholders to temper their expectations of the WA conglomerate, while issuing a reminder that there’s “no such thing as a risk-free business”.
