Morning Headlines

Nation losing innovation race

Australia is falling behind Singapore, Israel, South Korea, China and other trade competitors in the race to lead the fourth industrial revolution, the government’s chief innovation adviser Bill Ferris will tell The Australian Financial Review Innovation Summit today. The Fin

China shuts down bitcoin industry

China has stepped up its regulatory onslaught against cryptocurrencies, forcing bitcoin exchanges operating on the mainland to shut down and banning their executives from travelling outside the country. The Fin

AGL set to dodge a second strike at AGM

The under-pressure board of AGL Energy looks set to avoid an embarrassing ‘‘second strike’’ at next week’s annual meeting after two powerful proxy advisers recommended investors back the remuneration report. The Fin

Saudi solar tycoon wins $300m handouts boost

Australians are set to pay $300 million in subsidies to an outback solar farm owned by a Saudi Arabian billionaire in a new test of the federal government’s looming energy reforms, escalating a dispute over whether to cut the handouts to keep coal-fired power stations alive. The Aus

$53m a year but gap widens in troubled town

Aboriginal residents in the troubled town of Roebourne are falling behind the rest of Australia, and particularly behind other Aboriginal Australians, at a rate that defies huge spending programs by state and commonwealth governments, an unpublished study of the 52 Closing the Gap measures has found. The Aus

Signs of stress with $26bn of loans overdue

Signs of rising mortgage stress have emerged as the rate of missed home loan payments across Australia hits a five-year high and more than $26 billion worth of mortgages have fallen behind. The Aus

Tax cuts won’t go to ‘bucket’ companies

Financial Services Minister Kelly O’Dwyer is headed for a fresh clash with the Coalition’s wealthy base after releasing plans to ban so-called bucket companies that warehouse wealth from accessing the Coalition’s marquee company tax cuts. The Fin

Minimum-wage sting in Coles penalties deal

Coles will increase below-award penalty rates paid to permanent weekend and late-night employees but its Monday-to-Friday workers will receive only small pay rises equal to half the annual minimum wage increase, under a proposed deal between the supermarket giant and the shop assistants union. The Aus

The Australian Financial Review

Page 1: Australia is falling behind Singapore, Israel, South Korea, China and other trade competitors in the race to lead the fourth industrial revolution, the government’s chief innovation adviser Bill Ferris will tell The Australian Financial Review Innovation Summit today.

P3: Financial Services Minister Kelly O’Dwyer is headed for a fresh clash with the Coalition’s wealthy base after releasing plans to ban so-called bucket companies that warehouse wealth from accessing the Coalition’s marquee company tax cuts.

P4: The disparity of Australia’s regional economies has been highlighted in a report by credit rating agency Moody’s that shows mortgage arrears have reached a five-yearhigh. The disparity of Australia’s regional economies has been highlighted in a report by credit rating agency Moody’s that shows mortgage arrears have reached a five-year high.

P6: Chief Scientist Alan Finkel says he is still confident the Turnbull government will introduce a version of the Clean Energy Target, but warns delays could make the problem worse by leaving room for bad decisions by governments and investors.

P11: China has stepped up its regulatory onslaught against cryptocurrencies, forcing bitcoin exchanges operating on the mainland to shut down and banning their executives from travelling outside the country.

P13: Queensland’s exports of LNG are being kept at near-record levels while domestic prices remained among the highest in the world in August despite intense political pressure on producers to free up more gas for the east coast market.
P15: US studio giant CBS is in the box seat to have its proposal to take over Network Ten voted through by the free-to-air broadcaster’s creditors on Tuesday.

P16: Western Australia’s peak mining body has launched a campaign against the state government’s proposed royalty hike, launching a social media blitz as more than 1000 mining industry employees marched through the gold mining town of Kalgoorlie in protest.

The under-pressure board of AGL Energy looks set to avoid an embarrassing ‘‘second strike’’ at next week’s annual meeting after two powerful proxy advisers recommended investors back the remuneration report.

The Australian

Page 1: Australians are set to pay $300 million in subsidies to an outback solar farm owned by a Saudi Arabian billionaire in a new test of the federal government’s looming energy reforms, escalating a dispute over whether to cut the handouts to keep coal-fired power stations alive.

EnergyAustralia managing director Catherine Tanna told a Turnbull government MP that the company would not expand its Mount Piper coal station in central NSW because of Australia’s carbon reduction targets and the energy giant’s commitment to invest in renewables.

P4: A key business leader who advised John Howard for more than a decade has rebuked the former prime minister over same-sex marriage, warning of a “misleading” campaign to confuse the issue with religious freedom.

Coles will increase below-award penalty rates paid to permanent weekend and late-night employees but its Monday-to-Friday workers will receive only small pay rises equal to half the annual minimum wage increase, under a proposed deal between the supermarket giant and the shop assistants union.

P6: Aboriginal residents in the troubled town of Roebourne are falling behind the rest of Australia, and particularly behind other Aboriginal Australians, at a rate that defies huge spending programs by state and commonwealth governments, an unpublished study of the 52 Closing the Gap measures has found.

P7: Union ALP affiliation fees will be exempt from an Andrews government overhaul of Victoria’s political donations laws, leaving the party with an untouched election war chest to hammer the cashstrapped Liberal Party.
P17: Signs of rising mortgage stress have emerged as the rate of missed home loan payments across Australia hits a five-year high and more than $26 billion worth of mortgages have fallen behind.

P19: Australia Post has joined air express parcel delivery companies in opposing a fresh push by internet giant Amazon to overhaul the way GST would be collected on lowvalue internet purchases.

Kerry Stokes’s Seven West Media has downplayed a report claiming the media company could join forces with Fairfax Media following talks about potential corporate deals.

The West Australian

We apologise, The West Australian was performing site maintenance this morning and was unavailable.