22/09/2017 - 06:48

Morning Headlines

22/09/2017 - 06:48

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Warning for WA as economy rebounds

The WA economy has turned for the better, according to Reserve Bank boss Philip Lowe, but he has cautioned that the State cannot ride on the coat-tails of the mining sector for ever. The West

 

CFMEU ‘coerced Gorgon workers’

The Construction, Forestry, Mining and Energy Union made ‘‘unconscionable’’ threats to non-union members at Chevron’s Gorgon LNG project by promising to abuse and alienate them if they did not sign up to the union, the Federal Court has found. The Fin

 

Lendlease code deal averts ban

Property giant Lendlease has averted a ban on tendering for lucrative government work after striking new agreements with the construction union that deliver penalty rates as high as 300 per cent and casual loadings of up to 80 per cent after six weeks. The Aus

 

Carpark bill now $700k each month

Taxpayers are now forking out a staggering $700,000 a month as part of a controversial parking deal for the delayed Perth Children’s Hospital. The West

 

PM to pull trigger on gas giants

Malcolm Turnbull has indicated the government will pull the trigger to enforce limits on east coast gas exports and try to direct more to domestic supply, prompting howls of protest from the LNG giants and warnings about sovereign risk. The Fin

 

Trial of peer-to-peer energy trading

Perth-based Power Ledger will trial its peer-to-peer energy trading system using data from 200 Origin Energy customers in another step forward for the blockchain-based company’s technology. The Fin

 

Fairfax reveals slowing growth as it prepares for Domain IPO

The pace of revenue growth at Fairfax Media’s star asset Domain has slowed as it prepares to offload its $1.5bn-plus online property business in a partial stockmarket listing. The Aus

 

$9m payout for Crown’s ex-chief

James Packer’s Crown Resorts will ask shareholders to approve $9.3 million in pay and benefits to former chief executive Rowen Craigie at its upcoming annual general meeting, but has slashed the benefits payable to other executives in the group. The Aus

 

Bankwest safeguards flagged

The State Government has warned it would consider new legislative safeguards if Commonwealth Bank moved to significantly scale back Bankwest. The West

 

The Australian Financial Review

Page 1: Malcolm Turnbull has indicated the government will pull the trigger to enforce limits on east coast gas exports and try to direct more to domestic supply, prompting howls of protest from the LNG giants and warnings about sovereign risk.

Reserve Bank of Australia governor Philip Lowe has set the scene for higher official interest rates as he warned Australia’s next economic ‘‘chapter’’ cannot rely on ultra-cheap money.

P3: One Nation senator Malcolm Roberts’ attempt to renounce his British citizenship failed last year because he sent emails to incorrect addresses, the High Court heard on Thursday.

P5: Leading businesswoman Diane Smith-Gander has joined Jennifer Westacott in repudiating former Woolworths boss Roger Corbett, saying business had a role to play in the same-sex marriage debate.

P6: Perth-based Power Ledger will trial its peer-to-peer energy trading system using data from 200 Origin Energy customers in another step forward for the blockchain-based company’s technology.

P9: The Construction, Forestry, Mining and Energy Union made ‘‘unconscionable’’ threats to non-union members at Chevron’s Gorgon LNG project by promising to abuse and alienate them if they did not sign up to the union, the Federal Court has found.

P17: Commonwealth Bank’s proposed float of Colonial First State Global Asset Management could raise as much as $4 billion, but how much of that it gets to keep will depend on the way the bank resolves the AUSTRAC case.

P19: The managing director of Australia’s biggest brick-making business says if a company were ever run as badly as Australia has been in the past 10 years by its politicians, the entire board would step down.

 

The Australian

Page 1: The Reserve Bank will attempt to avoid raising interest rates quickly amid fears the impact of higher mortgage repayments on heavily indebted Australian households could choke economic growth.

The Clean Energy Finance Corporation has written $4.3 billion in loans for projects such as producing carbon-fibre car wheels and building energy-efficient social housing — but the investments will fail to fill the void in the electricity market left by one closed coal-fired power station.

Property giant Lendlease has averted a ban on tendering for lucrative government work after striking new agreements with the construction union that deliver penalty rates as high as 300 per cent and casual loadings of up to 80 per cent after six weeks.

P2: As the political fairytale of an epic upset in the New Zealand election ebbed away, Labour leader Jacinda Ardern said she had only one regret: that Kiwi voters didn’t have more time to get to know her.

P5: Over past weeks, more than 90 women have pulled on their boots, socks and rugby jerseys and played five fast-paced games viewable from anywhere in the country, in a competition that did not exist one year ago.

P19: The pace of revenue growth at Fairfax Media’s star asset Domain has slowed as it prepares to offload its $1.5bn-plus online property business in a partial stockmarket listing.

Brickworks managing director Lindsay Partridge has slammed the government for failing to address Australia’s energy crisis, suggesting it might be too late to do anything meaningful to avert looming shortages and widespread blackouts.

P21: James Packer’s Crown Resorts will ask shareholders to approve $9.3 million in pay and benefits to former chief executive Rowen Craigie at its upcoming annual general meeting, but has slashed the benefits payable to other executives in the group.

 

The West Australian

Page 3: The WA economy has turned for the better, according to Reserve Bank boss Philip Lowe, but he has cautioned that the State cannot ride on the coat-tails of the mining sector for ever.

P4: Losing the State election in a landslide has provided windfall payouts totalling more than $5.6 million to staff employed by the dumped Liberal-National government.

P13: Taxpayers are now forking out a staggering $700,000 a month as part of a controversial parking deal for the delayed Perth Children’s Hospital.

P68: The State Government has warned it would consider new legislative safeguards if Commonwealth Bank moved to significantly scale back Bankwest.

WA homes are now being built with imported Spanish roof tiles after savage cutbacks by Australia’s biggest brick and tile maker that have cost nearly 130 jobs.

On a day of seismic shifts for global monetary policy, Reserve Bank governor Philip Lowe said the central bank’s policies had little influence over economic growth.

P69: WA Treasurer Ben Wyatt has lashed the Chamber of Minerals and Energy WA for its behaviour in the battle over the McGowan Government’s gold royalty hike, saying the lobby group has consistently failed to produce evidence the tax would damage the industry and needs to put up or shut up.

Outgoing Commonwealth Bank chief Ian Narev has ridiculed as “false” the view that an internal candidate cannot succeed him.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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