28/07/2017 - 06:49

Morning Headlines

28/07/2017 - 06:49

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Trump circus hits Australia

Australian households and businesses are directly suffering the consequences of growing economic policymaking dysfunction in Donald Trump’s Washington, which has pushed the dollar through US80¢ for the first time in two years, warns a former top US Federal Reserve economist. The Fin

 

$10,000 home grant hope

First-homebuyer incentives are likely to be protected from State Budget cuts amid a warning from Housing Minister Peter Tinley that WA faces a looming affordable-housing crisis. The West

 

Ord River jobs cost $6m each

The Ord River irrigation scheme has been a $2 billion waste, with each new job costing almost $6 million to create, a report to be released today reveals. The West

 

Boris promises a ‘great’ trade deal

UK Foreign Secretary Boris Johnson has vowed to complete a ‘‘great’’ free trade agreement between Australia and Britain ‘‘as soon as possible’’ after Brexit, predicting that the services sector would be the major winner. The Fin

 

MP fiasco extends to bloodlines

Malcolm Turnbull and Bill Shorten are preparing for a battle over more than 20 MPs facing questions about possible citizenship rights in foreign countries, in a widening crisis that could tip the balance of power in federal parliament. The Aus

 

Coles slams expensive suppliers

Coles managing director John Durkan has thrown down the gauntlet to large multinational suppliers over prices he says are too high. The Fin

 

Dud NBN speeds creating millions of angry voters

There could be almost two million “seriously dissatisfied” voting-age National Broadband Network customers in the lead-up to the next federal election, based on the internet network’s own figures. The Aus

 

Regulatory risk for AGL, Origin

AGL Energy and Origin Energy are facing growing regulatory risks as state and federal governments focus on surging east coast electricity prices. The Aus

 

Growers muscle up for Quintis dramas

Nervous sandalwood growers with millions of dollars invested in Quintis’ plantations are banding together to try and protect their interests in the event of a change of control or collapse. The West

 

The Australian Financial Review

Page 1: Australian households and businesses are directly suffering the consequences of growing economic policymaking dysfunction in Donald Trump’s Washington, which has pushed the dollar through US80¢ for the first time in two years, warns a former top US Federal Reserve economist.

Page 3: Cyber criminals are selling forged Commonwealth Bank of Australia and Westpac Group credit card, bank and investment statements for $6 to $24 with the promise of delivery anywhere in the world within 24 hours.

Australians are more angry about the behaviour of the banks than any other prominent issue, including terrorism, immigration and the cost of living, according to 60 Minutes reporter Ross Coulthart.

Page 4: Beleaguered Nationals senator Matt Canavan has pledged to release documents which he believes will show his registration as an Italian citizen was invalid, but he will give them to the High Court, not the media.

Page 6: UK Foreign Secretary Boris Johnson has vowed to complete a ‘‘great’’ free trade agreement between Australia and Britain ‘‘as soon as possible’’ after Brexit, predicting that the services sector would be the major winner.

Page 10: A group of key rebel members has told a review panel looking at the way CPA Australia is run that the panel’s priority should be to force the accounting body to properly deal with allegations it has overpaid directors.

Page 15: Fortescue Metals Group will chase its most ambitious cost target to date this financial year as it battles weaker prices for the iron ore it sells.

The Australian dollar appears overvalued, strategists say, and its break above US80¢ puts the Reserve Bank of Australia’s inflation target further out of reach, sapping enthusiasm for interest rate hikes.

Page 17: Coles managing director John Durkan has thrown down the gauntlet to large multinational suppliers over prices he says are too high.

 

The Australian

Page 1: Malcolm Turnbull and Bill Shorten are preparing for a battle over more than 20 MPs facing questions about possible citizenship rights in foreign countries, in a widening crisis that could tip the balance of power in federal parliament.

Helicopters using the navy’s two largest $1.5 billion ships have had limits placed on their operation to prevent potentially damaging and dangerous uncontrolled movement of their blades when wind gusts across the deck.

Page 2: The boss of Coles says families are forgoing fresh food and meat in favour of cheaper groceries as skyrocketing energy bills and stagnant wages sap their buying power, suggesting politicians still have “a way to go” to understand their predicament.

Page 3: He’s already thrown hundreds of millions of dollars towards improving the lives of Aboriginal people, ending the scourge of global slavery and finding a cure for cancer.

Page 4: Employers have criticised a Fair Work Commission ruling to reinstate a 65-year-old truckie sacked for driving a fuel tanker 28km/h above the speed limit on a noted high-risk stretch of road.

Page 6: Nationals senator Matt Canavan dug in yesterday against swirling questions over his Italian citizenship, refusing to say whether his passport or driver’s licence had been used as identification when his mother registered him as an Italian 11 years ago.

Page 7: There could be almost two million “seriously dissatisfied” voting-age National Broadband Network customers in the lead-up to the next federal election, based on the internet network’s own figures.

Page 17: Macquarie Group chairman Peter Warne has ramped up criticism of the federal government’s bank levy, warning that the investment bank could shift its headquarters offshore in light of a charge that it says hits it disproportionately.

The late billionaire Kerry Packer’s oldest grandson, 19-year-old Benjamin Barham Packer, has taken his first small steps on to the Australian corporate landscape.

Swiss miner and trader Glencore has confirmed it had struck a $US1.139 billion ($1.42bn) deal to buy 49 per cent of the Hunter Valley Operations coal mines from Yancoal Australia and Mitsubishi.

Page 19: AGL Energy and Origin Energy are facing growing regulatory risks as state and federal governments focus on surging east coast electricity prices.

Page 21: Angry investors who fear losing millions in the sharemarket slump of listed sandalwood farming company Quintis have banded together to ensure their interests are not forgotten.

 

The West Australian

Page 1: First-homebuyer incentives are likely to be protected from State Budget cuts amid a warning from Housing Minister Peter Tinley that WA faces a looming affordable-housing crisis.

Page 3: The WA Greens are in turmoil over wheelchair-bound 22-year-old Jordon Steele-John entering the Senate, as acrimony grows over his elevation not being put to a vote of the party’s membership.

Page 9: The Ord River irrigation scheme has been a $2 billion waste, with each new job costing almost $6 million to create, a report to be released today reveals.

Page 14: A fourth senator has been caught up in the dual citizenship scandal rocking Parliament after One Nation senator Malcolm Roberts revealed last night that he only confirmed he was not a British citizen six months after his election.

Page 16: The head of the National Broadband Network has cautioned WA homeowners need to do their homework to avoid frustration over the service’s speed and cost.

Page 74: A court ruling granting exclusive native title over part of Fortescue Metals Group’s Pilbara operations should not prove costly for the iron ore miner but could have far-reaching effects for all industries, chief executive Nev Power says.

Nervous sandalwood growers with millions of dollars invested in Quintis’ plantations are banding together to try and protect their interests in the event of a change of control or collapse.

Page 75: An interest rate rise or two over the next year would improve stability in the house and land market in the medium to long term, Cedar Woods’ outgoing managing director Paul Sadleir said yesterday.

 

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