08/02/2018 - 06:15

Morning Headlines

08/02/2018 - 06:15

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Morning Headlines

Premier to pitch for more US ships

Premier Mark McGowan will meet a senior US Navy official on a whirlwind trip to Washington this month in a bid to bring more American ships to Perth. The West

Rio tips pay inflation as profits surge

Rio Tinto is gearing itself up for rising wage pressure in Australia and its other host nations after reporting a 69 per cent rise in full year profits and paying out record dividends to shareholders. The Fin

Energy regulators at odds on ‘strategic reserve’ approach

The Australian Energy Markets Commission and the Australian Energy Market Operator – the national grid’s rule maker and operator – are at loggerheads over the need for a ‘‘strategic reserve’’ to prevent blackouts after this summer. The Fin

Nats lobby for water funds

A Nationals WA delegation is in Canberra today to push for Federal funding to support two transformational irrigation projects in the South West. The West

CBA’s half-year profit misses expectations

Commonwealth Bank has undershot first-half profit expectations after making $575 million worth of provisions relating to the AUSTRAC allegations, the royal commission and rising compliance costs at Australia’s biggest bank. The Fin

Lew puts Myer’s board in crosshairs

Solomon Lew could be back in control of Myer by June, following 16 years in the wilderness triggered by his exile from the old Coles Myer board, after renewing his attack on the department store owner and declaring he will call a shareholders’ meeting to clean out the entire Myer board. The Aus

Wellard casts off bad years

Live export trader Wellard may finally be over the worst after more than halving its half-year loss but is hoping lower cattle prices over the next few months will help ease it back to profit. The West

 

 

The Australian Financial Review

Page 1: Rio Tinto is gearing itself up for rising wage pressure in Australia and its other host nations after reporting a 69 per cent rise in full year profits and paying out record dividends to shareholders.

Page 2: Communications Minister Mitch Fifield faces pressure to stop pay TV giant Foxtel from sidestepping a ban on gambling advertisements during live sports broadcasts with the Greens and Nick Xenophon Team demanding an exemption for little-watched sports channels be scrapped.

Page 4: The prudential regulator said private health insurer profitability was not driving ballooning premiums, contrary to a claim made last week by Opposition Leader Bill Shorten.

Commonwealth Bank boss Ian Narev insists there is healthy rivalry in the mortgage market as the competition regulator prepares to rule on whether banks are gouging on home loan interest rates.

Page 9: The Australian Energy Markets Commission and the Australian Energy Market Operator – the national grid’s rule maker and operator – are at loggerheads over the need for a ‘‘strategic reserve’’ to prevent blackouts after this summer.

Page 10: National Australia Bank says it will no longer look at the university score of incoming graduate employees – as the bank continues a revolution in hiring practices.

Page 13: Commonwealth Bank has undershot first-half profit expectations after making $575 million worth of provisions relating to the AUSTRAC allegations, the royal commission and rising compliance costs at Australia’s biggest bank.

 

 

The Australian

Page 2: Australia’s $40 billion tourism industry is in danger, with visitors likely to face more bad weather, deadly jellyfish and damaged beaches due to climate change, the Climate Council has warned.

Page 4: The former head of the peak business lobby has backed calls for Australia’s largest companies to consider a social contract with their workers and shareholders to share dividends of the government’s broader company tax cuts yet to be passed by the parliament.

Page 6: A fifth of Perth residents who want to change their commute to avoid traffic would consider driverless vehicles, new research has found, with increasing congestion in capital cities leading to dramatic shifts in the way commuters are travelling to work.

Page 8: The federal government’s much vaunted Closing the Gap campaign has failed because it abandoned the principles it was founded on a decade ago, indigenous advocate June Oscar will tell Malcolm Turnbull today.

Page 17: Shaky global financial markets yesterday signalled the meltdown in shares has further to go.

Page 19: Solomon Lew could be back in control of Myer by June, following 16 years in the wilderness triggered by his exile from the old Coles Myer board, after renewing his attack on the department store owner and declaring he will call a shareholders’ meeting to clean out the entire Myer board.

Carsales has unveiled an artificial intelligence capability it hopes will safeguard its business against the competitive threat from tech companies such as Amazon, which has launched an offensive on the US motor industry.

 

 

The West Australian

Page 1: A fresh political fight over the GST has erupted as the issue is dragged through the South Australian election campaign, with Labor accusing the Federal Government of backing away from an overhaul of the system.

Page 3: Troubled builder Cooper & Oxley is suing developer Sirona Capital for more than $6 million and unspecified damages over a Fremantle development, a move that could provide the builder a lifeline.

A sea of blue will sweep over Optus Stadium this year when English Premier League champions Chelsea play Perth Glory in a friendly soccer match on July 23.

Page 6: The Federal Government has ruled out overhauling a key part of the banking sector as calls grow for major changes to deliver lower costs to the nation’s bank customers.

Page 7: Two of the nation’s biggest banks — Westpac and ANZ — have been forced to refund thousands of credit card customers more than $21 million.

Page 1: The Labor Party has issued an edict to candidates for the Federal election to expunge themselves from the internet, ordering would-be MPs to delete Twitter and Facebook accounts to avoid being caught out by past views.

Page 13: Premier Mark McGowan will meet a senior US Navy official on a whirlwind trip to Washington this month in a bid to bring more American ships to Perth.

Page 18: SpaceX’s big new rocket blasted off on its first test flight yesterday, carrying a red electric sports car aiming for an endless road trip past Mars.

Business: Another rise in problem home loans at Commonwealth Bank suggests stress on WA households is still growing, potentially threatening the State’s fragile economic recovery.

A Nationals WA delegation is in Canberra today to push for Federal funding to support two transformational irrigation projects in the South West.
An injection of $171,000 as a result of a realignment of a number of project accounts has helped WAFarmers stay in the black in 2016-17.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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