08/03/2018 - 06:13

Morning Headlines

08/03/2018 - 06:13

Bookmark

Upgrade your subscription to use this feature.
Morning Headlines

GDP slows but spending surges

Driven by a surge in employment last year that lifted the nation’s wages pool by almost 5 per cent, spending rose by the most in a fourth quarter since 2010 and accounted for the lion’s share of growth. The Fin

Brazilian ore is greater threat than US tariffs: Rio

The rising competition to Australian producers from higher-grade, lower-taxed Brazilian iron ore should bolster the case for corporate tax cuts, says the head of Rio Tinto’s iron ore division. The Aus

Egg farmers might demand compo

The State Government would be asked cough up at least $50 million in compensation if it enforced tougher poultry welfare standards than the rest of Australia, industry body Egg Farmers Australia has warned. The West

Be confident inflation will return: Lowe

Reserve Bank of Australia governor Philip Lowe says businesses, investors and workers should feel confident inflation will accelerate in Australia in coming years, particularly as an investment boom gathers strength, but again warned it was still too soon to consider official interest rate hikes. The Fin

PM’s son: I was sidelined for blowing whistle on bank scandal

Alex Turnbull, the Prime Minister’s son, claims he was sidelined from his executive position at a global investment bank after blowing the whistle on billions of dollars of allegedly dodgy deals done with scandal-ridden Malaysian sovereign wealth fund 1MDB. The Aus

Civil works firms in trouble

Administrators have been put into two more civil contractors, including one owed money by failed builder Cooper & Oxley. The West

Floating LNG not an option for Sunrise

The signing of a landmark sea boundary treaty between Australia and Timor-Leste is set to revive stalled discussions over the lucrative Sunrise gas project, but operator Woodside Petroleum immediately signalled that the tough work on agreeing how to develop the resource is still to come. The Fin

Treasurer likely to extend asset write-off for small businesses

Small businesses are poised to get a boost in the Federal Budget, with Treasurer Scott Morrison expected to extend the Government’s instant asset write-off. The West

Cohn exit triggers shockwaves

Global financial markets were roiled yesterday by the resignation of Donald Trump’s chief economic adviser Gary Cohn as the President pressed ahead with his “America First” policy. The Aus

 

 

The Australian Financial Review

AFR Business Summit Review: Reserve Bank of Australia governor Philip Lowe says businesses, investors and workers should feel confident inflation will accelerate in Australia in coming years, particularly as an investment boom gathers strength, but again warned it was still too soon to consider official interest rate hikes.

The Turnbull government should exercise its freedom of navigation rights in the South China Sea, says Dennis Richardson who has urged Canberra to sail within 12 nautical miles of China’s man-made islands in the disputed territory.

Page 1: Driven by a surge in employment last year that lifted the nation’s wages pool by almost 5 per cent, spending rose by the most in a fourth quarter since 2010 and accounted for the lion’s share of growth.

Page 3: The resources industry is lobbying the Turnbull government to change its proposed union merger laws in a last ditch bid to block the militant construction and maritime super-union before it is formally established at the end of the month.

Page 4: A Shorten Labor government will consider changes to industrial relations laws to correct the undervaluation of women’s work and close the pay gap, deputy leader Tanya Plibersek said yesterday.

Page 6: The Turnbull government has stressed the importance of free trade by releasing more details on the benefits of the Trans-Pacific Partnership deal, with farmers, manufacturers and e-commerce businesses among the winners.

Page 10: Australia’s effort to build a world beating quantum computer has achieved a ‘‘significant milestone’’, with scientists announcing that they have finally been able to get the most basic elements of the next generation computer to ‘‘talk’’ to each other.

Page 15: BHP is eyeing a range of new opportunities in Mexico’s oil sector, including joining national oil operator Pemex in the country’s highest-quality, deepwater exploration acreage.

Page 17: The signing of a landmark sea boundary treaty between Australia and Timor-Leste is set to revive stalled discussions over the lucrative Sunrise gas project, but operator Woodside Petroleum immediately signalled that the tough work on agreeing how to develop the resource is still to come.

Toronto-listed The Stars Group has spent more than $550 million in about a week on Australian gambling assets, shaking up the rapidly consolidating bookmaking sector in a series of deals that could eventually cost it up to $785 million.

Page 18: The treasurer of the Commonwealth Bank says criticism that hybrid securities are complex products sold to misinformed investors is misplaced, as the bank launched an offer that is expected to raise up to $1.25 billion from yield seeking investors.

 

 

The Australian

Page 1: Reserve Bank governor Philip Lowe has forecast a “very big shock” to the world economy if US President Donald Trump proceeds with tariff increases on steel and aluminium, his warning coming hours after the top economic adviser in the White House quit over the policy.

Alex Turnbull, the Prime Minister’s son, claims he was sidelined from his executive position at a global investment bank after blowing the whistle on billions of dollars of allegedly dodgy deals done with scandal-ridden Malaysian sovereign wealth fund 1MDB.

Page 3: A listed aged-care provider that raked in almost $5 million in a dubious “capital refurbishment” fee from vulnerable residents has left the door open to reimposing the charge — despite a Federal Court ruling banning such deductions — because it says it is levied in a different way.

Page 5: Australia’s assistance to East Timor is one of the nation’s more poorly delivered Pacific nation projects with almost half of all current aid objectives not being properly met, according to the government's own report card.

Page 6: The charities regulator has been asked to investigate Bill Shorten’s $17,000 tour of the Great Barrier Reef and Adani coalmine site funded by the Australian Conservation Foundation to determine if the lobby group broke laws governing payments to third parties.

Page 17: Global financial markets were roiled yesterday by the resignation of Donald Trump’s chief economic adviser Gary Cohn as the President pressed ahead with his “America First” policy.

Page 20: The rising competition to Australian producers from higher-grade, lower-taxed Brazilian iron ore should bolster the case for corporate tax cuts, says the head of Rio Tinto’s iron ore division.

Page 21: The corporate watchdog is turning the screws on the insurance sector over its use of private investigators in home and motor policy claims.

 

 

The West Australian

Page 3: From March 31, all customers holding active Woolworths Group gift cards will be able to use them at any time, replacing the previous one-year expiration date.

Page 4: Small businesses are poised to get a boost in the Federal Budget, with Treasurer Scott Morrison expected to extend the Government’s instant asset write-off.

The Federal Government is ramping up demands for Labor and Senate crossbenchers to “get out of the way” of its push for company tax cuts, as new figures show the economy growing at its slowest rate in 15 months.

Page 5: The Commonwealth Bank will pay up to $16 million to almost 140,000 customers stung by insurance products they were unlikely to use.

Page 8: A prominent WA businessman wept in court yesterday during his first appearance on two charges of armed robbery.

Page 11: Labor’s deputy leader Tanya Plibersek has called for an end to the “tampon tax” but has stopped short of committing the Opposition to scrapping the charge on sanitary products if it forms government.

Page 16: Perth’s high-frequency bus services have emerged as the shining light amid the gloom of falling public transport usage.

Business: The State Government would be asked cough up at least $50 million in compensation if it enforced tougher poultry welfare standards than the rest of Australia, industry body Egg Farmers Australia has warned.

The corporate regulator has won court approval to use email and postal services to serve legal documents on the former chief of failed Antares Energy after trying unsuccessfully to hand them to him personally.

Administrators have been put into two more civil contractors, including one owed money by failed builder Cooper & Oxley.

Mining magnate Gina Rinehart’s four children have joined her on the list of the world’s wealthiest people for the first time after revenue from the family trust helped make them billionaires.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options