20/07/2017 - 06:46

Morning Headlines

20/07/2017 - 06:46

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Origin gas find to feed east coast

Origin Energy could be sitting on a multi-billion dollar gas resource in the Northern Territory that is several times the size of the North West Shelf and with the potential to keep the energy-short eastern states well supplied for years. All it needs now is the green light to get gas flowing. The Fin

 

WA economy poised to shake off gloom

The domestic side of the WA economy is poised to start growing again after almost four years of being buffeted by the end of the mining boom, with businesses predicted to start investing. The West

 

Wray makes way as CMG plots expansion

Craig Mostyn Group chief executive Mark Wray has resigned after 18 months in the role as the company considers the acquisition of another major WA agribusiness player. The West

 

ACCC declares war over slow NBN

The competition watchdog is preparing legal action against telecommunications companies that sell high-speed National Broadband Network packages that they fail to deliver. The Aus

 

Trade war ‘to cost 100,000 jobs here’

Failure by politicians to resist a Donald Trump-inspired global trade war would help unleash a populist wave of protectionism that would end up costing Australia 100,000 jobs and wipe $1500 a year from average incomes, the Productivity Commission warns. The Fin

 

Skilled workers turned away by 457 visa changes

The Turnbull government’s citizenship and 457 visa program overhaul is deterring skilled foreign workers from choosing Australia, prompting the world’s largest job-search site to warn of negative consequences. The Aus

 

Economy on the rise: Morrison

Scott Morrison will today launch a strident defence of the government’s fiscal strategy, warning that an earlier than planned return to budget surplus risks dampening an economy that is gathering momentum for the first time in almost a decade. The Aus

 

Dollar delight for travellers

Motorists, tourists heading overseas and online shoppers looking for cheap deals are likely to be winners from a strengthening Australian dollar. The West

 

Central Petroleum fends off spill effort

Central Petroleum has fended off a spirited attempt to spill the board, securing the ongoing leadership of chief executive Richard Cottee, who is now considering a rights issue to raise funds for drilling after shareholders blocked a proposed $87 million takeover by Macquarie Group last month. The Fin

 

The Australian Financial Review

Page 1: The market capitalisation of the major banks surged by $14 billion after investors realised they would not have to raise additional equity through dilutive capital raisings to be considered ‘‘unquestionably strong’’ and the prudential regulator said its new capital target could be built through retained earnings.

Origin Energy could be sitting on a multi-billion dollar gas resource in the Northern Territory that is several times the size of the North West Shelf and with the potential to keep the energyshort eastern states well supplied for years. All it needs now is the green light to get gas flowing.

Page 3: Hostplus and AustralianSuper were the top performing superannuation schemes last year, sitting at the top of the league ladder dominated by industry retirement schemes.

Page 4: Treasurer Scott Morrison has rejected criticisms levelled by Tony Abbott and others that the government’s policy agenda is not conservative enough, saying ‘‘it is our job to govern for every single Australian’’.

Tony Abbott has returned from a holiday abroad and resumed his campaign to destabilise Malcolm Turnbull’s leadership, this time by criticising Tuesday’s national security upheaval as ‘‘a massive bureaucratic change’’.

Page 5: Failure by politicians to resist a Donald Trump-inspired global trade war would help unleash a populist wave of protectionism that would end up costing Australia 100,000 jobs and wipe $1500 a year from average incomes, the Productivity Commission warns.

Page 6: The Australian Competition and Consumer Commission has confirmed it will investigate allegations of pricegouging by state-owned power companies in Queensland as part of its wider review into high power prices across the country.

Page 15: BHP Billiton is set to grow production of its most important products over the next year as its Escondida mine leads the charge with its biggest copper haul in a decade.

Experts are divided over whether the Reserve Bank of Australia is paving the way for higher interest rates by disclosing that the economy’s neutral rate is 3.5 per cent.

Page 17: Central Petroleum has fended off a spirited attempt to spill the board, securing the ongoing leadership of chief executive Richard Cottee, who is now considering a rights issue to raise funds for drilling after shareholders blocked a proposed $87 million takeover by Macquarie Group last month.

 

The Australian

Page 1: Scott Morrison will today launch a strident defence of the government’s fiscal strategy, warning that an earlier than planned return to budget surplus risks dampening an economy that is gathering momentum for the first time in almost a decade.

Greens leader Richard Di Natale is scrambling to produce documents showing he correctly renounced his Italian citizenship before entering parliament after his two codeputy leaders were forced to resign after failing to conduct proper checks.

The competition watchdog is preparing legal action against telecommunications companies that sell high-speed National Broadband Network packages that they fail to deliver.

Page 3: Queensland Energy Minister Mark Bailey has been stood down after an investigation found “reasonable suspicion of corrupt conduct’’ over his deletion of a private email account that contained public records.

Page 4: Australians will be urged to embrace a new direction in fighting poverty as the federal government warns that another boost to the nation’s $160 billion welfare bill will not fix the problem, clearing the ground for tougher social security policies instead.

Page 5: The Turnbull government’s citizenship and 457 visa program overhaul is deterring skilled foreign workers from choosing Australia, prompting the world’s largest job-search site to warn of negative consequences.

Page 17: Australian banks were warned not to hit borrowers and depositors with changes in interest rates to maintain returns on capital, which they may have to raise to meet new standards required by the prudential regulator’s “unquestionably strong” test.

Off the outback Stuart Highway in the frack-free Northern Territory, it is looking increasingly likely that Origin Energy has discovered a world-class shale gas resource, comparable to those in the US, just east of Daly Waters.

 

The West Australian

Page 3: The domestic side of the WA economy is poised to start growing again after almost four years of being buffeted by the end of the mining boom, with businesses predicted to start investing.

Page 6: Prime Minister Malcolm Turnbull has sarcastically lambasted WA’s “heroic” Federal Labor MPs for failing to offer any solutions to the Productivity Commission’s inquiry into the GST carve-up.

A Labor insider who survived in government through the Liberal-Nationals years has been appointed director-general of the Department of the Premier and Cabinet.

Treasurer Scott Morrison has warned banks against lifting mortgage interest rates or slicing rates on deposits after they were told they will have to hold extra assets worth billions of dollars to protect themselves in case of economic troubles.

Page 8: Perth jazz identity Graham Wood has died after a four-year battle with cancer.

Page 9: AFL players and other sports stars have won lucrative tax breaks for their “fame”, which will be worth tens of thousands of dollars a year to the biggest names.

Page 12: Motorists, tourists heading overseas and online shoppers looking for cheap deals are likely to be winners from a strengthening Australian dollar.

Page 13: The State Government will hold a crisis meeting with farmers’ groups and rural businesses amid growing complaints the National Broadband Network in country areas is overloaded and sluggish.

Page 16: WA hospitals should publish individual safety and quality data and their boards should hold some of their meetings in public, according to a report.

Page 41: BHP may be forced to wind back its 2018 full-year iron ore guidance unless it can secure government approval to ship more tonnes through Port Hedland.

Enigmatic prospector Bill Richmond has gazumped part of Sandfire Resources’ efforts to expand its exploration footprint at Doolgunna.

Page 42: Craig Mostyn Group chief executive Mark Wray has resigned after 18 months in the role as the company considers the acquisition of another major WA agribusiness player.

A specialised Perth lender co-seeded by Tony Brennan and backed by a US financier is giving cash-poor companies quicker access to the Federal Government’s research and development rebate.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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