01/02/2018 - 05:58

Morning Headlines

01/02/2018 - 05:58

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Morning Headlines

Rival MinRES contradicts FMG on iron discounts

Fortescue Metals Group’s belief that it has weathered the worst of the iron ore price discounts has not been shared by rival exporter Mineral Resources, which declared yesterday that it was still seeing substantial discounts applied to lower grade iron ore. The Fin

WA families feeling childcare cost pinch

WA families are increasingly being squeezed by childcare costs, with a new report revealing out-of-pocket fees for full-time care have soared to $452 a week. The West

Nickel mine set to shut despite nickel price rise

The commodities rally that put a rocket under mid-tier miner Independence Group has come too late for the company’s Long nickel mine near Kambalda, 60km from Kalgoorlie. The Aus

PM enlists business to the rescue

Malcolm Turnbull will anoint business as Australia’s economic saviour in a pre-election speech in which he warns a return to Labor will jeopardise economic recovery, hard-won employment growth and, further down the road, tax cuts. The Fin

Visa laws to exempt 457 applications already in pipeline

The Turnbull government has walked back its hard-line position on 457 visas, announcing visa applications in the pipeline will not to be subject to new restrictions on permanent residency set to come into effect in March. The Fin

Beach watchful amid AWE takeover war

Beach Energy chief executive Matt Kay says the oil and gas producer is ‘‘making sure our interests are protected’’ as the $600 million-plus takeover tussle plays out over AWE, its partner in the prized Waitsia onshore gas field in Western Australia. The Fin

US Treasury opens file on CBA breaches

US anti-money-laundering agency FinCEN has in the past two years received hundreds of pages of reports about Commonwealth Bank under laws designed in part to protect against international terrorism, The Australian can reveal. The Aus

 

 

The Australian Financial Review

Page 1: Malcolm Turnbull will anoint business as Australia’s economic saviour in a pre-election speech in which he warns a return to Labor will jeopardise economic recovery, hard-won employment growth and, further down the road, tax cuts.

US President Donald Trump has put the resurgent economy at the forefront of an appeal to divided Republicans and Democrats to work together to invest $US1.5 trillion ($1.9 trillion) in the country’s crumbling infrastructure and to overhaul a broken immigration system to build a ‘‘safe, strong and proud’’ America.

Page 4: The small business sector has urged Labor to reconsider plans to significantly boost the minimum wage if elected, warning such a move would be a ‘‘devastating blow’’.

Page 6: The Turnbull government has walked back its hard-line position on 457 visas, announcing visa applications in the pipeline will not to be subject to new restrictions on permanent residency set to come into effect in March.

Page 8: Only half of senior Australians have made financial plans that take into account longer life expectancy, suggesting the need for some form of guaranteed income stream in retirement, the author of a new report says.

Page 11: Claire Peters, the new managing director of Woolworths supermarkets, admits to feeling performance pressure, not because she’s the first woman to run an Australian grocery chain but because she wants to make sure Woolworths keeps beating Coles.

Page 13: Beach Energy chief executive Matt Kay says the oil and gas producer is ‘‘making sure our interests are protected’’ as the $600 million-plus takeover tussle plays out over AWE, its partner in the prized Waitsia onshore gas field in Western Australia.

Page 14: Fortescue Metals Group’s belief that it has weathered the worst of the iron ore price discounts has not been shared by rival exporter Mineral Resources, which declared yesterday that it was still seeing substantial discounts applied to lower grade iron ore.

Page 21: Amazon is one step closer to becoming the world’s first trillion-dollar company, and it has beaten Apple and Google to be named the world’s most valuable brand, while locally telcos, banks and the grocery giants continued their dominance.

 

 

The Australian

Page 1: Federal Labor will consider legislating significant increases in the minimum wage, under a proposal that employers warned last night would threaten the viability of small businesses and create a generation of young unemployed.

Page 2: Electric vehicles will sound the death knell for half of all car dealerships as they lose vital revenue from servicing internal combustion engines, an industry survey by KPMGsays.

Open market schemes to reinvigorate vocational training have backfired disastrously, with governments spending billions of dollars to train fewer students.

Page 17: US anti-money-laundering agency FinCEN has in the past two years received hundreds of pages of reports about Commonwealth Bank under laws designed in part to protect against international terrorism, The Australian can reveal.

Page 19: Foxtel’s new chief executive, Patrick Delany, has outlined his vision for the subscription broadcaster, flagging plans to aggressively pursue millennial viewers with new streaming products aimed at fending off rivals such as Netflix.

Page 20: The commodities rally that put a rocket under mid-tier miner Independence Group has come too late for the company’s Long nickel mine near Kambalda, 60km from Kalgoorlie.

 

 

The West Australian

Page 1: Public health officials warned Education Minister Sue Ellery that handing out bottled water at schools may spread undue alarm but she insisted it was the right decision yesterday “because we’re talking about children”.

Page 3: Hundreds of violent thugs and sex perverts were among the almost 1200 foreign-born criminals stripped of their Australian visas last year.

Page 6: Prime Minister Malcolm Turnbull has returned fire after Bill Shorten’s pitch to middle Australia, arguing that a strong economy is the only way to deliver more and better paid jobs, while supporting Australia’s “quality” social services.

Page 7: WA families are increasingly being squeezed by childcare costs, with a new report revealing out-of-pocket fees for full-time care have soared to $452 a week.

Page 12: Optus Stadium will go into today’s blockbuster Perth Scorchers semi-final without one of its key executives after its chief operating officer lost his job a day after Sunday’s inaugural event.

Page 16: Perth’s real estate has turned into a two-speed market, with the more exclusive suburbs leading the way on price growth as the cheaper end lags.

Business: Civmec got a timely boost ahead of a mooted push for an Australian listing, tapped yesterday to supply all of the steel in the Federal Government’s $4 billion offshore patrol vessel contract.

Brierty may have been insolvent nearly four months before it went under in early September, according to a disputed assessment by administrators.

Perth’s stubbornly high CBD office vacancy rate fell to 19.8 per cent last month, but Perth retains the dubious distinction of being the most vacant capital city behind Darwin.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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