08/08/2017 - 06:46

Morning Headlines

08/08/2017 - 06:46

Bookmark

Upgrade your subscription to use this feature.

Battery makers may buy into mines

A desire to secure supply of raw battery materials, such as lithium, will encourage electric vehicle and lithium-ion battery manufacturers to directly invest in mines, Pilbara Minerals managing director Ken Brinsden says. The Fin

 

Roy Hill within reach of nameplate export goal

The Roy Hill iron ore mine has climbed to within reach of its 55 million tonne-a-year nameplate export rate, 19 months after shipping its first load of ore from Port Hedland. The West

 

ACCC’s approach to deals lashed

Legal experts have warned that the competition watchdog’s move to toughen up its approach to contentious mergers is likely to fail to deliver its desired result. The Aus

 

Police ramp up pay demand

WA police officers are seeking pay increases of more than double what they were promised under the previous government’s wages policy. The West

 

Ferguson leads IR reform push

Former ACTU boss Martin Ferguson has called on the Turnbull government to enact a ‘‘new round’’ of workplace relations reform, backing a resource industry push for new employee rights to opt out of collective agreements and move to individual agreements, restrictions on legal strikes, and a higher bar to prove unlawful employer actions. The Fin

 

AUSTRAC’s civil route to bigger fine

AUSTRAC may have chosen to take civil rather than criminal action against the Commonwealth Bank of Australia because it’s quicker and the fines are larger, legal experts say. The Fin

 

Concerns for NBN critic’s authority

The nation’s most vocal “internet user” advocacy group, which claims to be a politically neutral critic of the National Broadband Network, has received tens of thousands of dollars from telco Optus and internet giant Google, while its executive director remains a member of the Labor Party. The Aus

 

Trump protectionism may fuel China downturn, says Zoellick

The unpredictability of Donald Trump could exacerbate the wider impact of any future economic downturn in China, the former president of the World Bank has warned. The Aus

 

Bank guru worries about debt

Former World Bank chief Robert Zoellick has warned Aussie householders the good times can’t last forever, saying it is inevitable that interest rates will rise across the globe. The West

 

The Australian Financial Review

P1: Commonwealth Bank of Australia is expected to unveil a cash profit of close to $10 billion tomorrow as it continues its battle against financial transactions regulator AUSTRAC, which is prosecuting it over money laundering breaches.

Former ACTU boss Martin Ferguson has called on the Turnbull government to enact a ‘‘new round’’ of workplace relations reform, backing a resource industry push for new employee rights to opt out of collective agreements and move to individual agreements, restrictions on legal strikes, and a higher bar to prove unlawful employer actions.

P3: Woolworths is calling for an overhaul of enterprise bargaining after warning the current system is now so uncertain it is ‘‘unworkable’’ and ‘‘a significant risk to the economy’’.

P5: Retirees looking to downsize the family home and inject the proceeds into superannuation could be left in a worse financial position and will require sound financial advice before deciding to proceed with the sale, super industry experts say.

P8: AUSTRAC may have chosen to take civil rather than criminal action against the Commonwealth Bank of Australia because it’s quicker and the fines are larger, legal experts say.

P10: China’s Dalian Wanda Group, under pressure to crimp its offshore expansion and facing a freeze on bank lending at home, is fielding offers for its two giant development projects in Australia, the $1 billion apartment and hotel tower in Sydney and its $900 million Jewel resort on the Gold Coast.

P13: Retail superannuation funds, fund managers and insurers have stood up to significant pressure from the major banks’ wealth arms, which wanted them to stay silent rather than object to the banks’ call for new rules over executive behaviour to be extended to most of the financial services sector.

P18: A desire to secure supply of raw battery materials, such as lithium, will encourage electric vehicle and lithium-ion battery manufacturers to directly invest in mines, Pilbara Minerals managing director Ken Brinsden says.

 

The Australian

P1: Australians want more incentives to work harder and increase their take-home pay, in a significant finding that backs the case for tax reform, amid fears of the growing burden that is hurting families.

Two Pakistani brothers with suspected links to radical terror figures were so brazen in their execution of a multi-million dollar money-laundering scheme, which they washed through Commonwealth Bank of Australia accounts, that they did so in plain sight of bank employees.

P2: Former ACTU president Martin Ferguson has joined the mining industry to pressure the federal government to back new restrictions on unions taking industrial action and entering workplaces, and called for high-income earners to be given more ability to move on to individual contracts.

P3: The nation’s most vocal “internet user” advocacy group, which claims to be a politically neutral critic of the National Broadband Network, has received tens of thousands of dollars from telco Optus and internet giant Google, while its executive director remains a member of the Labor Party.

P6: Teams of “collaborative conversationalists” will be hired and trained by the Weatherill government to encourage “greener travel” by South Australians.

P17: The money-laundering crisis engulfing Commonwealth Bank could disrupt planning for chief executive Ian Narev’s succession, with the reporting and other breaches identified by Austrac taking place in the retail banking division of the leading internal CEO candidate Matt Comyn.

Corporate Australia has secured another high-profile political name, with former federal health minister Nicola Roxon’s appointment to the board of Dexus Funds Management.

The unpredictability of Donald Trump could exacerbate the wider impact of any future economic downturn in China, the former president of the World Bank has warned.

P19: Legal experts have warned that the competition watchdog’s move to toughen up its approach to contentious mergers is likely to fail to deliver its desired result.

 

The West Australian

P3: Tiredness is killing Australians, with more than 3000 deaths a year linked to lack of sleep.

P9: WA police officers are seeking pay increases of more than double what they were promised under the previous government’s wages policy.

P16: Former World Bank chief Robert Zoellick has warned Aussie householders the good times can’t last forever, saying it is inevitable that interest rates will rise across the globe.

P48: The Roy Hill iron ore mine has climbed to within reach of its 55 million tonne-a-year nameplate export rate, 19 months after shipping its first load of ore from Port Hedland.

Australia’s second biggest gold miner Evolution Mining is mulling the underground potential of a second deposit at its Mungari operations near Kalgoorlie-Boulder as it aims to match its mine life with its portfolio’s star Eastern States assets.

A buyers’ strike on traditional internal combustion vehicles will push existing car manufacturers to rapidly change their production to electric vehicles, according to lithium miner Pilbara Minerals.

P49: The Commonwealth Bank board met yesterday as pressure mounted on the lender to quash this year’s executive bonuses amid fears it could be dealt a controversial “second strike” on pay from shareholders.

P50: The Australian sharemarket bounced towards the upper end of its two-month trading range yesterday as commodities rallied after improved US jobs data on Friday.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options