06/03/2018 - 06:16

Morning Headlines

06/03/2018 - 06:16

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Trump tariff to fire inflation

Investment managers warned yesterday that any escalation of the threat to lift tariffs (President Trump has said he will sign tariff legislation later this week) could cause a spike in inflation and interest rates. The Aus

PM’s poll survival plan

Malcolm Turnbull is preparing to argue that 30 negative successive Newspolls should not be reason enough to question his leadership because that was not the only reason he moved against Tony Abbott. The Fin

Franchisees stranded by Aussie Farmers’ crash

West Australians who paid hundreds of thousands of dollars for franchises in Aussie Farmers Direct have reacted with shock to the collapse of the national home grocery delivery business. The West

Trade war reverberates in Bunbury

Key executives at Western Australian silicon metal company Simcoa say it’s ‘‘highly frustrating’’ to be caught up in United States President Donald Trump’s trade war as protectionist trade policies reverberate at a local level, and inject long-term uncertainty at Australia’s only silicon metal producer. The Fin

Price fears if gas flows East

WA may find its gas prices linked to the turbulent international market if this State comes to the rescue of Australia’s energy-muddled Eastern States. The West

James Packer to sell $100m stake in Crown

Billionaire and Financial Review Rich Lister James Packer will offload more than $100 million in shares in his Crown Resorts casino and resorts group. The Fin

Car sales hint at revving economy

New car sales in WA, as measured by the Federal Chamber of Automotive Industries, reached almost 8300 last month, 10 per cent more than a year ago. The West

CBA traders ‘colluded on BBSW plans daily’

The corporate regulator has detailed more than 80 instances where Commonwealth Bank employees breached Chinese walls and shared information about trading plans to the benefit of the bank. The Fin

Britain weighs up joining the TPP

Trade Minister Steven Ciobo will sign the Trans-Pacific Partnership in Chile this week amid hopes the 11-nation free-trade agreement could grow to include a further five key nations. The Aus

 

 

The Australian Financial Review

Page 1: Malcolm Turnbull is preparing to argue that 30 negative successive Newspolls should not be reason enough to question his leadership because that was not the only reason he moved against Tony Abbott.

Page 3: The senior Ernst & Young partner in South Australia will leave after an investigation found he had breached aspects of the firm’s code of conduct, but a sexual harassment allegation against him was not substantiated.

Page 7: Companies’ gross operating profits rose 4.3 per cent in the December quarter from a year ago, down sharply from the 20 per cent growth reported in the September quarter, according to the Australian Bureau of Statistics’ business survey published yesterday.

Page 8: Analysis by consulting firm PwC estimates the economy would lose $2.3 billion and 20,000 jobs if Beijing ordered students and tourists to shun Australia for one year, under a ‘‘imagine the unimaginable’’ scenario in retaliation against government criticisms of China.

Page 9: Key executives at Western Australian silicon metal company Simcoa say it’s ‘‘highly frustrating’’ to be caught up in United States President Donald Trump’s trade war as protectionist trade policies reverberate at a local level, and inject long-term uncertainty at Australia’s only silicon metal producer.

Page 13: The Australian Securities Exchange has stood behind its ‘‘equity research scheme’’ after it emerged the exchange subsidised bullish broker research on Big Un Limited, the company suspended from trading after breaching listing rules.

Cloud accounting software company Xero’s sudden change of leadership may have come as a surprise to the market, but founder Rod Drury says it’s been in the works for months.

Page 15: Billionaire and Financial Review Rich Lister James Packer will offload more than $100 million in shares in his Crown Resorts casino and resorts group.

Page 16: One of the world’s top lithium producers says it remains committed to its Australian joint venture with Kidman Resources despite plans to dramatically increase production in South America.

Page 17: The corporate regulator has detailed more than 80 instances where Commonwealth Bank employees breached Chinese walls and shared information about trading plans to the benefit of the bank.

 

 

The Australian

Page 1: Australia’s $200 million kangaroo meat industry is gearing up for an all-out attack from animal welfare activists seizing on a new documentary that suggests kangaroos are a “disappearing resource” whose numbers will dwindle like “rhinos, tigers, cheetahs and whales”.

The Chinese government has announced an 8.1 per cent boost in defence spending — to $225 billion — as it promotes the People’s Liberation Army’s ambitious new global role.

Page 3: More than half of Australia’s foreign aid advisers are paid tax-free rates of between $500 and $1000 a day, leaving taxpayers with a bill of $182 million for almost 2200 advisers to regional neighbours.

Page 4: Trade Minister Steven Ciobo will sign the Trans-Pacific Partnership in Chile this week amid hopes the 11-nation free-trade agreement could grow to include a further five key nations.

Page 7: Public hospitals will be allowed to continue billing patients’ health insurers for treatment costs but the practice is likely to be restricted through political reforms and new rules imposed by insurers.

Page 17: BlueScope Steel looks to be a big winner from Donald Trump’s steel tariffs, which could boost earnings by $US150 million ($194m) a year or more at its Ohio steel mill, despite fears the US action could be the first step in a full-blown trade war.

The James Packer-controlled Crown Resorts faces disciplinary action for blacking out buttons on some poker machines at the company’s Melbourne casino.

ASX-listed rare earths company Lynas is in talks with the Turnbull government about working with the Trump administration to sell more rare earths to the US.

Page 19: Shares in franchise business Retail Food Group sank 50 per cent to a 10-year low as trade resumed yesterday, following its suspension and announcement of a first-half profit plunge last week.

Page 20: Long-serving Commonwealth Bank director Brian Long will leave the lender as chairman Catherine Livingstone overhauls its senior ranks in the wake of the money-laundering scandal.

Page 22: Investment managers warned yesterday that any escalation of the threat to lift tariffs (President Trump has said he will sign tariff legislation later this week) could cause a spike in inflation and interest rates.

Page 24: The new payments platform (NPP) is now open to the public.

 

 

The West Australian

Page 4:  Federal Opposition Leader Bill Shorten is alarmed by a looming “trade war” sparked by US tariffs on imported steel and aluminium, saying it could put Australian jobs on the line.

Premier Mark McGowan appears to have tied the State Government’s election commitment of $167 million for the Joondalup Health Campus to the election of Labor leader Bill Shorten as prime minister.

Page 5: New car sales in WA, as measured by the Federal Chamber of Automotive Industries, reached almost 8300 last month, 10 per cent more than a year ago.

Page 13: An extra $85.6 million will be spent on new support services for about 2.7 million Australians who care for someone who needs extra help because of disability, age, mental illness or long-term physical illness.

Business: West Australians who paid hundreds of thousands of dollars for franchises in Aussie Farmers Direct have reacted with shock to the collapse of the national home grocery delivery business.

Engineering firm RCR Tomlinson has added the defence industry to its repertoire, picking up $93 million in work on northern Australia’s remote radar network.

WA may find its gas prices linked to the turbulent international market if this State comes to the rescue of Australia’s energy-muddled Eastern States.

Austal says it’s yet to decide where it will construct a $68 million ferry for a Japanese buyer as commercial orders begin to pile up.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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