29/08/2017 - 06:46

Morning Headlines

29/08/2017 - 06:46

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Property prices ‘still too high’

Housing Minister Peter Tinley will today outline how lower income earners are continuing to be priced out of the Perth property market despite a softening in values. The West

 

Morrison in hit on bank pay packets

Scott Morrison will move within weeks to tighten rules on bank executive pay despite a furious industry push to weaken the changes, as he hails an extraordinary inquiry into the Commonwealth Bank as proof of tough action without the need for a royal commission. The Aus

 

Challenge on GST share ‘hard to win’

A leading constitutional law expert says a plan by the West Australian Liberal Party to mount a High Court challenge to the federal GST carve-up is “not without merit” but would be a difficult case to win. The Aus

 

Affordability likely to stall for 40 years

Australia’s chronic demand for new homes, driven by population growth in the big cities, is unlikely to ease in coming decades, escalating the need for bold policy that recognises not everyone will own a house in future, a major report by the Committee for Economic Development of Australia finds. The Fin

 

League blockbuster for stadium

The National Rugby League will steal a march on the AFL by playing a blockbuster doubleheader at the Perth Stadium next year — two weeks before the Dockers and Eagles begin their 2018 campaigns. The West

 

Rio support for victims of violence

Rio Tinto will today become Australia’s first mining company to offer a comprehensive package of measures to address domestic violence in its workforce. The West

 

Westpac puts new squeeze on buyers

Westpac Banking Group will introduce a range of policies on Tuesday intended to tighten lending by increasing scrutiny of borrowers’ income, the second policy change in a week after revealing its exposure to higher-risk interest only property buyers. The Fin

 

Qantas executives in succession reshuffle

Qantas Airways is reshuffling its senior ranks for the first time in five years, rotating two of the most likely successors to chief executive Alan Joyce into new positions and promoting a newcomer to the executive ranks to the head of its high-profile international operations. The Fin

 

$10bn windfall as Lendlease rides city boom

Global development and construction company Lendlease is riding the global urbanisation boom, having won $10 billion worth of construction work since the end of June. The Aus

 

The Australian Financial Review

Page 1: Global credit rating agencies are on alert after the prudential regulator unveiled an inquiry into scandal ridden lender Commonwealth Bank of Australia warning that it could lead to a credit downgrades of the bank.

US studio CBS has taken advantage of the Turnbull government’s failure to pass changes to media ownership rules, swooping in and gazumping News Corp’s Lachlan Murdoch and WIN Corp’s Bruce Gordon to grab local broadcaster Network Ten.

P3: Australia’s chronic demand for new homes, driven by population growth in the big cities, is unlikely to ease in coming decades, escalating the need for bold policy that recognises not everyone will own a house in future, a major report by the Committee for Economic Development of Australia finds.

P5: Workers are denied as much as $2.8 billion in superannuation payments each year, according to Australian Taxation Office analysis that contradicts the much larger figure of $5.6 billion advanced by union-backed funds.

P6: The prudential inquiry into Commonwealth Bank of Australia’s culture should examine whether staff feel inhibited about communicating bad news to their managers and if less sales-centric remuneration policies are being implemented in practice, says a leading risk governance experts.

P7: Westpac Banking Group will introduce a range of policies on Tuesday intended to tighten lending by increasing scrutiny of borrowers’ income, the second policy change in a week after revealing its exposure to higher-risk interest only property buyers.

P11: Qantas Airways is reshuffling its senior ranks for the first time in five years, rotating two of the most likely successors to chief executive Alan Joyce into new positions and promoting a newcomer to the executive ranks to the head of its high-profile international operations.

 

The Australian

Page 1: Scott Morrison will move within weeks to tighten rules on bank executive pay despite a furious industry push to weaken the changes, as he hails an extraordinary inquiry into the Commonwealth Bank as proof of tough action without the need for a royal commission.

P3: GetUp! claims to have helped 20,000 members switch from Australia’s “dirtiest” electricity retailers to green energy by referring them to a rival company, despite the rival admitting it has no idea where its power comes from.

The union representing workers sacked by Clive Palmer’s Queensland Nickel has warned the resources magnate not to offer “false hope” to north Queenslanders by pretending to consider reopening the refinery.

P4: A leading constitutional law expert says a plan by the West Australian Liberal Party to mount a High Court challenge to the federal GST carve-up is “not without merit” but would be a difficult case to win.

P6: The ABC will seek to be the national home of the arts after a review found there was unmet audience demand and a desire for closer collaboration among major arts companies.

Health funds will be made more accountable for any efficiencies arising from federal government reforms to ensure the savings are passed on to members already struggling with high premiums.

Malcolm Turnbull has accused Bill Shorten of siding with foreign companies against Australian rivals as the two leaders escalate the fight over media reform after US giant CBS swooped in to buy the Ten Network.

West Australian Labor has become the fifth branch of the party to support recognition of a Palestinian state without conditions, caveats or qualifications.

P17: US television giant CBS Corporation is planning to own Ten Network for the longer term as part of a turnaround strategy for the free-to-air broadcaster if the $250 million deal goes ahead.

P19: Global development and construction company Lendlease is riding the global urbanisation boom, having won $10 billion worth of construction work since the end of June.

P21: Yancoal Australia’s $US2.35 billion ($3bn) equity raising has met with next to no interest from institutional and retail shareholders, leaving its underwriters and Chinese backers on the hook for almost the entire amount.

 

The West Australian

Page 1: Police are catching an average of 52 drivers a month speeding by more than 40km/h, prompting a crackdown on the “reckless” behaviour.

P3: The National Rugby League will steal a march on the AFL by playing a blockbuster doubleheader at the Perth Stadium next year — two weeks before the Dockers and Eagles begin their 2018 campaigns.

P4: Attorney-General John Quigley has produced legal advice to lampoon as “wishful thinking” the State Opposition’s pledge to crowdfund a challenge in the High Court for a better GST deal.

Labor has pledged to spend what could be hundreds of millions of dollars in extra top-up payments to WA if the State’s GST share does not recover as predicted, amid claims from the coalition that Labor’s payment forecasts are unreliable and could cause a Budget blowout.

P7: Health experts are concerned about a big fall in children’s bicycle sales, with new research showing just 10 per cent of Australian kids regularly ride a bike to school.

P9: Housing Minister Peter Tinley will today outline how lowerincome earners are continuing to be priced out of the Perth property market despite a softening in values.

P11: Selling WA’s State-owned betting agency has been put back on the agenda after the McGowan Government confirmed it was carrying out due diligence to put a price tag on the asset.

P12: Rio Tinto will today become Australia’s first mining company to offer a comprehensive package of measures to address domestic violence in its workforce.

P45: US broadcasting giant CBS is about to test Australians’ appetite for more American TV shows with the rollout of its streaming service as part of the purchase of Ten Network.

P46: The opportunities for WA and Africa to expand business links will be highlighted at a forum in Perth next month.

 

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