21/07/2017 - 06:46

Morning Headlines

21/07/2017 - 06:46

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Retirement fees to be probed

A barrage of complaints by WA seniors who feel they are being ripped off by retirement villages will be scrutinised by State Government investigators and lawyers. The West

 

Regions to lose MPs as city grows

WA needs two extra Lower House MPs to help prevent the loss of another regionally based parliamentary seat, the WA Nationals believe. The West

 

CBA goes to war with Carnell

Commonwealth Bank of Australia has launched a blistering attack on Kate Carnell, the Coalition government’s small business ombudsman, accusing her of ignoring facts, breaching its confidentiality and denying it procedural fairness. The Fin

 

Unseasonal iron ore rally boosts budget

Surging iron ore prices are on track to add billions in extra revenue to federal coffers if an unseasonal rally in Australia’s most lucrative export commodity continues. The Fin

 

PM warns on rates, home prices

Malcolm Turnbull has warned Australians to be on guard for rising interest rates, an end to steady house price growth, and increasing global uncertainty as he vows to secure more jobs in a growing clash with Labor over economic growth. The Aus

 

Tougher test for default super funds

The prudential regulator will be given sweeping new powers to intervene in the governance of the $460 billion default superannuation sector as part of a package of reforms that will increase the scrutiny of fund trustees. The Fin

 

Telcos at ‘impasse’ with NBN on net speeds

The nation’s major telecommunications companies and the National Broadband Network are at an “impasse” over internet speeds and costs and the competition regulator has warned it will have to step in if a resolution is not found soon. The Aus

 

Carmichael top of the financial adviser tree

Scott Carmichael from Melbourne-based Escala Partners, a breakaway group from giant Swiss investment bank UBS, has emerged as the top-ranked financial adviser in Australia. The Aus

 

The Australian Financial Review

Page 1: The prudential regulator will be given sweeping new powers to intervene in the governance of the $460 billion default superannuation sector as part of a package of reforms that will increase the scrutiny of fund trustees.

Commonwealth Bank of Australia has launched a blistering attack on Kate Carnell, the Coalition government’s small business ombudsman, accusing her of ignoring facts, breaching its confidentiality and denying it procedural fairness.

Subsidies and tax increases previously considered off limits will be targeted by a Labor government in a push to address rising inequality which Opposition Leader Bill Shorten says is driving people away from mainstream politics.

Page 3: The benefits of bigger equity buffers in the banks will be eroded if the government fails to get the budget deficit under control, says the architect of the concept of ‘‘unquestionably strong’’, David Murray, chair of the government’s 2014 financial system inquiry.

Page 4: Britain’s biggest defence company could make Adelaide its southern hemisphere shipyard to chase export markets if it wins the contract to build Australia’s next fleet of frigates.

Page 7: Prime Minister Malcolm Turnbull praised ‘‘clean coal’’ power stations but declined to give any assurance that the government would fund one, saying the government’s preference was for the market to choose.

Page 9: Toll truck drivers may go on strike after negotiations over a new enterprise bargaining agreement fell apart, with the Transport Workers Union planning to lodge a protected action ballot on Friday.

Page 10: Surging iron ore prices are on track to add billions in extra revenue to federal coffers if an unseasonal rally in Australia’s most lucrative export commodity continues.

Twiggy Forrest’s Fortescue Metals Group could be liable for millions of dollars in extra royalties after the Federal Court recognised exclusive native title rights to an Indigenous group in Western Australia covering the company’s Solomon Hub mine.

Page 15: Woodside Petroleum chief executive Peter Coleman has declared the company could be interested in buying ExxonMobil out of the Scarborough gas field as part of a strategy to push ahead with lower-cost LNG investments despite the tough market.

 

The Australian

Page 1: Malcolm Turnbull has warned Australians to be on guard for rising interest rates, an end to steady house price growth, and increasing global uncertainty as he vows to secure more jobs in a growing clash with Labor over economic growth.

Greens leader Richard Di Natale is facing dire warnings of a slide in his party’s popular support with a leaked internal analysis showing it is on track to lose three of its nine Senate seats, as it reels from the loss of two of its most popular senators.

Andrew Forrest’s Fortescue Metals Group is facing the threat of an “astronomical” compensation claim after a court ruled that an indigenous group in the Pilbara had exclusive native title rights over land on which the company built a multi-billiondollar iron ore mine.

Page 4: Queensland’s corruption watchdog has put the Palaszczuk cabinet on notice and warned that ministers’ use of private email accounts is a “corruption risk,” after Energy Minister Mark Bailey was stood aside and his salary halved.

Page 5: The nation’s major telecommunications companies and the National Broadband Network are at an “impasse” over internet speeds and costs and the competition regulator has warned it will have to step in if a resolution is not found soon.

SBS is stifling commercial television competitors by driving up the cost of international programming, according to the chief executive of Nine Entertainment. Hugh Marks also called on SBS to return to its public service roots, stop chasing commercial ratings, and provide more public service programs.

Page 19: A landmark court decision could set a new template for the way the mining industry approaches native title negotiation, after Andrew Forrest’s Fortescue Metals Group lost a long-running claim over its Pilbara mining hub.

Scott Carmichael from Melbourne-based Escala Partners, a breakaway group from giant Swiss investment bank UBS, has emerged as the top-ranked financial adviser in Australia.

Page 21: Woodside Petroleum chief Peter Coleman has said a $US5 billion ($6bn) overhaul of the North West Shelf LNG plant at Karratha will be undertaken to extend its life by 20 years, if talks to toll-treat third party gas, including from the Browse joint venture come to fruition.

 

The West Australian

Page 3: A Federal Court judgment has paved the way for a group of Pilbara Aboriginals to sue Fortescue Metals Group for tens of millions of dollars in royalties from the Andrew Forrest-led miner’s Solomon Hub iron ore operation.

Page 4: Bill Shorten will today signal Labor’s support for an overhaul of the tax system, saying its failures are driving fault lines through the community and leading to inequality.

Page 5: A barrage of complaints by WA seniors who feel they are being ripped off by retirement villages will be scrutinised by State Government investigators and lawyers.

Page 11: WA’s nursing union spent more than $840,000 on its State election campaign to push for better working conditions for nurses.

Page 17: Disruptive and negligent public housing tenants have been put on notice, with the number kicked out of of government properties increasing by 37 per cent in the past financial year.

Page 20: The WA jobs market is the fastest growing in the nation with businesses, led by the health sector, putting on thousands of fulltime workers in another sign the State economy is on the mend.

Page 22: WA needs two extra Lower House MPs to help prevent the loss of another regionally based parliamentary seat, the WA Nationals believe.

Page 66: Woodside Petroleum chief executive Peter Coleman says faults that twice interrupted production at the Karratha Gas Plant are disappointing, as upgrades of the ageing North West Shelf facility continue.

Page 68: Shares in embattled infant formula maker Bellamy’s fell sharply as they resumed trading yesterday after the surprise suspension of a key Chinese regulatory licence for its newly acquired canning facility.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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