19/07/2017 - 06:48

Morning Headlines

19/07/2017 - 06:48

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RBA signals cash rate rise to 3.5pc

The Reserve Bank of Australia looks to be shifting tentatively towards ending more than four years of emergency monetary policy support, putting households on notice it has pegged 3.5 per cent as the new normal for the cash rate, equivalent to eight rate hikes above today’s level. The Fin

 

Regulator hits out at power monopoly

The Australian Energy Regulator chair Paula Conboy says high wholesale electricity prices will persist in Queensland while the two state owned power generators continue to control two-thirds of market share in Australia’s third largest state.The Fin

 

Senate hopeful a GST rebel

Former WA Lower House speaker Michael Sutherland has vowed to cross the floor as a senator to get a better GST deal for WA in a veiled swipe at the State’s Liberals in Canberra. The West

 

Rio Tinto dip a blip before bumper prize

Analysts have brushed off a rare dip in Rio Tinto’s iron ore exports and anticipate that strong prices for the commodity will deliver bumper first-half profits and dividends next month. The Fin

 

Union bid to penalise builders for IR deals

A key union is demanding “financial penalties” be paid by employers, including extra cash for casuals and double time for employees working rostered days off, in exchange for the union agreeing to make workplace deals compliant with the Turnbull government’s new construction code. The Aus

 

Ex-Democrat a born-again Green

Former Australian Democrats leader Andrew Bartlett is set to return to federal parliament for the Greens, stepping into the shoes of Queensland senator and co-deputy leader Larissa Waters after she quit over the party’s second dual-citizenship bungle. The Aus

 

How Ten planned for its own downfall

It was late summer, as Ten basked in the afterglow of ratings victory delivered the previous month by its broadcasts of the Big Bash League, the high-octane cricket competition, when the TV network’s chairman David Gordon and his board started seriously considering putting the company into administration. The Aus

 

Property tycoon arrested over $10m blaze

High-flying Perth property developer Hossean Pourzand has been charged with arson as part of a police investigation of a Welshpool property that caused $10 million damage. The West

 

Nightingale on song for sustainable housing

Potential buyers are lining up for a slice of WA’s first Nightingale housing project, a sustainable apartment complex flagged for Fremantle. The West

 

The Australian Financial Review

Page 1: The Reserve Bank of Australia looks to be shifting tentatively towards ending more than four years of emergency monetary policy support, putting households on notice it has pegged 3.5 per cent as the new normal for the cash rate, equivalent to eight rate hikes above today’s level.

Page 3: Foreign-born MPs of all political persuasions were rushing to reaffirm their citizenship status after the Australian Greens lost a second senator in less than a week upon discovering she, too, was a dual citizen.

Page 4: Malcolm Turnbull’s overhaul of national security agencies has received a mixed reaction from experts while Labor has branded it a cynical exercise aimed more at the Prime Minister’s job security than that of the nation.

Page 5: The exodus of senior talent from troubled law firm Slater & Gordon is threatening to turn into a flood, with the firm’s head of general law James Higgins and its national union relationship manager Emma Walters quitting the firm.

Page 6: The Australian Energy Regulator chair Paula Conboy says high wholesale electricity prices will persist in Queensland while the two state owned power generators continue to control two-thirds of market share in Australia’s third largest state.

Origin Energy chief executive Frank Calabria has backed the full set of Finkel review of energy recommendations – including the Clean Energy Target – as Nationals leader Barnaby Joyce said the junior Coalition party would only back the CET if it included coal power.

Page 7: Former Seven Network employee Amber Harrison has vowed to move on with her life and backed herself to get work in the corporate world after her three-year fight with Seven Network finally ended on Monday.

Page 13: Analysts have brushed off a rare dip in Rio Tinto’s iron ore exports and anticipate that strong prices for the commodity will deliver bumper first-half profits and dividends next month.

Page 15: CIMIC has warned that arbitration over a $1.1 billion dispute with Chevron for work completed on Western Australia’s Gorgon LNG jetty will not start until 2019 after reporting a 22 per cent increase in interim net profit to $322.9 million.

Page 16: Kerry Stokes-backed Saracen Mineral Holdings has finally achieved its longheld ambition to produce gold at a rate of 300,000 ounces a year, a milestone which marks an ‘‘inflection point’’ for the mid-tier gold producer, managing director Raleigh Finlayson says.

 

The Australian

Page 1: Foreign-born Australian politicians have rushed to reaffirm their right to sit in federal parliament after an unprecedented political fiasco saw Larissa Waters become the latest Greens co-deputy leader forced to resign for failing to observe a basic requirement in the Constitution.

A key union is demanding “financial penalties” be paid by employers, including extra cash for casuals and double time for employees working rostered days off, in exchange for the union agreeing to make workplace deals compliant with the Turnbull government’s new construction code.

Page 2: The Reserve Bank has sent the Australian dollar soaring close to US80c with a positive assessment of the economy and spelling out its goal for returning interest rates to a more normal level.

Page 5: Former Australian Democrats leader Andrew Bartlett is set to return to federal parliament for the Greens, stepping into the shoes of Queensland senator and codeputy leader Larissa Waters after she quit over the party’s second dual-citizenship bungle.

Page 7: Annastacia Palaszczuk’s bureaucracy ballooned by an extra 3288 full-time equivalent workers in just the first three months of this year, pushing the total size of the Queensland public-sector workforce to 215,926.

Page 17: The Reserve Bank may have laid the foundation for higher interest rates by revealing its thoughts on how high rates will need to go when it starts to unwind its GFClinked stimulus.

It was late summer, as Ten basked in the afterglow of ratings victory delivered the previous month by its broadcasts of the Big Bash League, the high-octane cricket competition, when the TV network’s chairman David Gordon and his board started seriously considering putting the company into administration.

Page 19: Rio Tinto remains in the box seat to deliver a solid increase in dividends at its upcoming results, despite being forced to downgrade production guidance for its single biggest earner.

 

The West Australian

Page 1: High-flying Perth property developer Hossean Pourzand has been charged with arson as part of a police investigation of a Welshpool property that caused $10 million damage.

Page 3: The growing number of West Australians in de facto relationships would split their accumulated super nest egg in the event of a break-up under changes to family law being pushed by the superannuation industry.

Page 4: Immigration Minister Peter Dutton will be elevated to a powerful role at the heart of Australia’s national security apparatus after Prime Minister Malcolm Turnbull yesterday confirmed he would create a Home Affairs ministry.

Page 6: The Australian Greens were plunged into crisis yesterday after another avoidable dual citizenship bungle forced the resignation of their second co-deputy leader.

Page 16: WA Labor is poised to become the next branch of the party to formally recognise a Palestinian state, with the powerful Left faction signalling it will bring on a vote at the coming State conference.

Page 22: Former WA Lower House speaker Michael Sutherland has vowed to cross the floor as a senator to get a better GST deal for WA in a veiled swipe at the State’s Liberals in Canberra.

Page 29: Paul Holmes a Court and other investors who pumped $52 million into Wellard’s recapitalisation in May are already under water on the investment after yet another depressing update put the live export trader’s shares under renewed pressure.

Page 30: Rio Tinto says it is on track to complete the transition to driverless trains across its Pilbara iron ore network by the end of next year.

Page 65: Potential buyers are lining up for a slice of WA’s first Nightingale housing project, a sustainable apartment complex flagged for Fremantle.

The exponential growth in property values around Beaufort Street has been reflected in the $3.25 million sale of Must Winebar.

Page 66: Real estate giant Centuria’s $92 million investment into Perth reflects a growing confidence in the city’s office market, property analysts say.

Page 68: The Shoalwater Shopping Centre is up for sale via an expressions-of-interest campaign.

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