19/12/2017 - 06:27

Morning Headlines

19/12/2017 - 06:27

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Morning Headlines

Ashes win a fitting finale to an iconic sports venue

Australia’s Ashes victory at the WACA — the third time in four series that the urn has been regained in Perth — is set to provide the perfect but sad farewell to Test cricket at one of the world’s iconic grounds. The West

Carbon hiccup for Chevron

Technical problems with Chevron’s landmark effort to store carbon dioxide from the Gorgon LNG project may see more than five million tonnes of greenhouse gas released into the atmosphere over two years. The West

Resisting iron ore price upgrade leaves windfall a possibility

Treasurer Scott Morrison has resisted upgrading his iron ore price forecasts and maintained a $US55 a tonne assumption in the government’s midyear budget update, leaving room for a windfall if current prices are sustained. The Fin

Emitters to purchase foreign carbon credits

Industry will be able to buy foreign carbon credits after 2020 to meet obligations under the emissions guarantee of the proposed National Energy Guarantee, Environment and Energy Minister Josh Frydenberg says. The Fin

Welfare hit, jobs growth fire budget

Tight control over spending and booming jobs growth have helped the government slice another $9 billion from the budget deficit over the next four years as Scott Morrison hails the lowest rate of welfare dependency in 25 years. The Aus

NBN told to shape up or be slugged

The National Broadband Network faces hefty fines early next year if it fails to improve on shoddy service delivery after the competition watchdog said it would move to protect telcos and internet users as soon as possible. The Aus

Reshuffle to give WA more clout in Cabinet

WA ministers will win more influence in a reshuffle expected to be revealed by Prime Minister Malcolm Turnbull today, as Attorney-General George Brandis steps down from Cabinet to become Australia’s next high commissioner to Britain. The West

Perth council row headed for the courts

A bitter rivalry on the City of Perth council could be bound for the courtroom, with one councillor threatening legal action against a colleague over bribery claims. The West

 

The Australian Financial Review

Page 1: Malcolm Turnbull’s pre-election promise of an income tax cut may come at the expense of company tax cuts unless the government can find several billion dollars more before the end of the decade, according to the mid-year budget update.

Mike Cannon-Brookes has warned Australian fund managers to ignore local tech firms at their peril, after construction software company Aconex announced a $1.6 billion acquisition offer from Oracle yesterday and sparked a brutal rout of short sellers who had attacked the stock.

Page 3: Industry will be able to buy foreign carbon credits after 2020 to meet obligations under the emissions guarantee of the proposed National Energy Guarantee, Environment and Energy Minister Josh Frydenberg says.

Page 5: The government has capped the amount it will contribute for each student at 2017 levels for the next two years. It says this will save it $2.2 billion over the forward estimates.

Page 6: Treasurer Scott Morrison has resisted upgrading his iron ore price forecasts and maintained a $US55 a tonne assumption in the government’s midyear budget update, leaving room for a windfall if current prices are sustained.

Page 12: CME Group, the world’s largest derivatives exchange operator, yesterday (AEDT) became the second exchange to launch bitcoin futures trading, seeking to capitalise on the mania for the booming digital currency. It came a week after Chicago rival Cboe Global Markets introduced similar derivatives on the volatile cryptocurrency.

Page 16: Almost 200 jobs are set to be affected by the latest expansion of autonomous equipment in Rio Tinto’s iron ore division, but the company believes it can minimise the number of redundancies through redeployment.

 

 

The Australian

Page 1: Tight control over spending and booming jobs growth have helped the government slice another $9 billion from the budget deficit over the next four years as Scott Morrison hails the lowest rate of welfare dependency in 25 years.

Page 3: The National Broadband Network faces hefty fines early next year if it fails to improve on shoddy service delivery after the competition watchdog said it would move to protect telcos and internet users as soon as possible.

Page 15: The government is likely to step in with new laws on the superannuation and life insurance sectors after an industry-led working group failed to deliver substantial agreement on a code of conduct aimed at protecting consumers when claims fall short.
Page 17: Disruption from a rapidly expanding Amazon, the supermarket wars and trouble at Myer are expected to be key issues for the retail sector next year.

Page 18: ANZ has launched the first in what could be a series of stock buybacks, announcing it will spend $1.5 billion on its own stock after completing the sale of its 20 per cent stake in Shanghai Rural Commercial Bank.

Electricity will become the most consumed energy source in the world in the next 23 years, assuming a role oil has held for the past 25 years, amid increasing demand for cooling, electric cars and appliances, a new report predicts.

 

 

The West Australian

Page 4: Australia’s Ashes victory at the WACA — the third time in four series that the urn has been regained in Perth — is set to provide the perfect but sad farewell to Test cricket at one of the world’s iconic grounds.

Page 7: WA ministers will win more influence in a reshuffle expected to be revealed by Prime Minister Malcolm Turnbull today, as Attorney-General George Brandis steps down from Cabinet to become Australia’s next high commissioner to Britain.
Page 9: WA Treasurer Ben Wyatt has chided State-owned power provider Synergy for “relying” on a taxpayer-funded hardship scheme to claw back overdue customer bills.

Page 13: A bitter rivalry on the City of Perth council could be bound for the courtroom, with one councillor threatening legal action against a colleague over bribery claims.

Page 16: Parents from five bush schools earmarked for closure have banded together to call on the State Government to reverse its decision, warning that they will not back down without a fight.

Page 18: The WA Police Union has defended its hardline tactics during the bitter pay fight with the State Government, claiming the new pay offer formally accepted by officers yesterday was significantly better than deals done by other unions.

Business: Technical problems with Chevron’s landmark effort to store carbon dioxide from the Gorgon LNG project may see more than five million tonnes of greenhouse gas released into the atmosphere over two years.

Waste technology company AnaeCo has called in administrators after lender Monadelphous Group axed an $11.5 million rescue deal with a Chinese company.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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