06/09/2017 - 06:46

Morning Headlines

06/09/2017 - 06:46

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Morning Headlines

Key policy pay shake-up is ‘ludicrous and not fair’

Top bureaucrats want the McGowan Government to break its election promise to hold them accountable to shared goals, arguing it is ludicrous to dock the pay of a mining official for failing to reduce type-2 diabetes. The West

 

Labor mocks Liberals for ‘ludicrous’ WAxit push

WA Federal Labor MPs have savaged the State Liberal Party for pursuing a “ludicrous” motion on financial independence, or WAxit, while not doing enough to fix the GST disparity facing WA. The West

 

Nickel, copper recovery boosts resource sector

The resurgence in nickel and copper prices to their highest levels in years has become the latest boon for Australia’s resources sector, boosting profit margins for miners and prompting others to consider dusting off old mines and forgotten exploration projects. The Aus

 

Western suburbs sales soar

LandCorp’s residential infill program has allowed the western suburbs to sprint past the city as the top-performing precinct for new apartment sales. The West

 

Joyce will run the country: PM

Malcolm Turnbull has underscored his faith in legal advice by the Commonwealth Solicitor-General by confirming Barnaby Joyce will be running the country at the end of this week. The Fin

 

US-China trade war risks recession

US President Donald Trump’s threat to unleash a trade war with China over its failure to rein in North Korea’s nuclear ambitions would plunge the world into recession, the Turnbull government and trade experts have warned. The Fin

 

Bank-owned financial advice model is ‘broken’, says Quadrant

High net worth wealth and advice company Fitzpatricks Financial Group has made its first acquisition since securing a ‘‘sizeable’’ investment from two private equity firms, picking up a $1.5 billion financial advice business from ANZ. The Fin

 

Unions build $1.5bn war chest

The nation’s largest trade unions have amassed a political war machine totalling more than $1.5 billion in assets and a combined income stream estimated at $900 million a year, despite a continuing decline in their membership base. The Aus

 

BIS warns of digital finance dangers

The central banks’ club has warned that digital finance intensifies the risk of money laundering and terrorism financing, with new areas of vulnerability arising from the adoption of cryptocurrencies and digital technologies. The Aus

 

The Australian Financial Review

Page 1: The Turnbull government has secured an in-principle agreement from AGL to sell its Liddell coal-fired power station in NSW to another operator who would be willing to keep it operating for at least five years beyond its scheduled closure in 2022.

Reserve Bank of Australia governor Philip Lowe is expressing growing confidence that a strengthening economy will deliver widespread wage gains to households but warned the process was likely to take some time before it stoked inflation and higher official interest rates.

P3: Andrew Forrest could join with Chinese billionaire Jack Ma to bankroll the Australian mining magnate’s ‘‘Indo-Pacific’’ rugby union competition, which he will launch after the Western Force lost its NSW Supreme Court appeal to stay in Super Rugby.

Andrew Forrest’s push to protect his Minderoo pastoral station has forced Fortescue Metals Group to reapply for key mining leases, which might no longer be legally valid.

P4: Malcolm Turnbull has underscored his faith in legal advice by the Commonwealth Solicitor-General by confirming Barnaby Joyce will be running the country at the end of this week.

P7: US President Donald Trump’s threat to unleash a trade war with China over its failure to rein in North Korea’s nuclear ambitions would plunge the world into recession, the Turnbull government and trade experts have warned.

P11: The leadership at BDO Australia continue to insist they are driving a planned move to become a national firm and deny the shift is being forced upon the local group by BDO International.

P15: Introducing a tougher regulatory regime for proxy advisers is not the answer to dealing with individual instances of poor engagement between advisers and companies, superannuation funds have warned.
P18: High net worth wealth and advice company Fitzpatricks Financial Group has made its firstacquisition since securinga ‘‘sizeable’’ investment from two private equity firms, picking up a $1.5 billion financial advice business from ANZ.

 

The Australian

Page 1: The nation’s largest trade unions have amassed a political war machine totalling more than $1.5 billion in assets and a combined income stream estimated at $900 million a year, despite a continuing decline in their membership base.

Annastacia Palaszczuk’s minority government is in a winning position ahead of the looming Queensland election but may still rely on the preference flows of One Nation voters to cling to power.

P2: The new Labor government in Western Australia has imposed a state-wide moratorium on fracking for unconventional gas, raising industry fears it could eventually follow the Victorian government in banning the practice.

P3: Australia has punched above its weight, with eight universities in a global top 200 ranking but funding cuts could make the sector fall behind rapidly rising Chinese institutions.

P4: The Turnbull government has suspended the benefits of 1300 young jobless people for not taking part in its $750 million internship program.

P5: Tony Burke, Labor’s chief attack dog targeting Barnaby Joyce, has conceded he will not challenge the Deputy Prime Minister’s ministerial decisions in court, despite insisting for weeks they were in doubt and could be overturned.
P6: Builders and developers are offering to audit their own buildings for potentially dangerous polyethylene cladding products, as state-based taskforces examining the scale of the fire hazard in Australia predict their own investigation could take years.

P19: The Australian Energy Market Operator has called for the development of 1000 megawatts of strategic reserves of electricity for South Australia and Victoria, warning that the national electricity market remains vulnerable to blackouts because of extreme weather and the shutdown of generators.

Andrew Forrest’s legal efforts to block mining on his Minderoo cattle station inadvertently left his $17.8 billion iron ore heavyweight Fortescue Metals Group sitting on a number of potentially invalid mining leases.

P22: The central banks’ club has warned that digital finance intensifies the risk of money laundering and terrorism financing, with new areas of vulnerability arising from the adoption of cryptocurrencies and digital technologies.

P24: The resurgence in nickel and copper prices to their highest levels in years has become the latest boon for Australia’s resources sector, boosting profit margins for miners and prompting others to consider dusting off old mines and forgotten exploration projects.

 

The West Australian

Page 3: Top bureaucrats want the McGowan Government to break its election promise to hold them accountable to shared goals, arguing it is ludicrous to dock the pay of a mining official for failing to reduce type-2 diabetes.

P6: US President Donald Trump and Prime Minister Malcolm Turnbull will today discuss measures to counter North Korea’s increasing nuclear aggression.

P7: Former Western Force captain Matt Hodgson has blasted the Australian Rugby Union, claiming players and staff were the forgotten victims of the Super Rugby legal battle.

WA taxpayers will be on the hook for at least $4.5 million over the next three years because of the Australian Rugby Union’s decision to axe Western Force.

P9: A trendy British curry house that used to operate in Leederville has been accused of underpaying a cook by almost $40,000.

P11: WA businessman and major wine producer Peter Fogarty has acquired control of leading wine brand Evans & Tate from the McWilliam’s Wine Group.

P12: Government infrastructure spending and exporters have delivered the Australian economy a much-needed boost that is about to flow into WA Treasurer Ben Wyatt’s Budget.

P14: Immigration Minister Peter Dutton’s plans to make it harder to become an Australian citizen appear doomed, with even Government senators criticising elements of the crackdown and Nick Xenophon’s crossbench group opposed to the changes.

P17: WA Federal Labor MPs have savaged the State Liberal Party for pursuing a “ludicrous” motion on financial independence, or WAxit, while not doing enough to fix the GST disparity facing WA.

P29: A former Federal resources minister has labelled an investigation into WA’s fracking industry as “yet another inquiry” that was motivated more by politics than policy.

The State Government would be breaking a pre-election commitment if it decided to increase gold royalties in tomorrow’s State Budget.

P30: A major five-year project to restore salt-affected land in the Wheatbelt could get under way soon, with farmers hoping the State Government will help seed the initiative.

P71: LandCorp’s residential infill program has allowed the western suburbs to sprint past the city as the top-performing precinct for new apartment sales.

P72: Investment trends in WA are out of alignment with those on the east coast, with less than onetenth of WA’s first-half property transactions by foreigners.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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