09/03/2018 - 06:32

Morning Headlines

09/03/2018 - 06:32

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Morning Headlines

China warns of response in US trade war

China says a trade war with the United States would hurt both countries, but the world’s second-biggest economy did not rule out a ‘‘necessary’’ response if the two countries could not resolve their differences. The Fin

Support for carbon farm

Agriculture Minister Alannah MacTiernan believes a WA carbon farming industry could be possible for the rangelands under existing pastoral lease legislation. The West

Minerals Council wants native title laws changed

The Minerals Council of Australia is lobbying the federal government for urgent changes to native title laws which it says will remove uncertainty over the status of mining leases and tenements following recent court cases. The Fin

Aged-care providers to refund outlawed fee

Two of the largest listed aged-care companies in Australia will repay residents or their estates millions of dollars skimmed from clients under the guise of an asset refurbishment fee that has now been declared illegal by the Federal Court. The Aus

Hope grows for US tariff exemption

The Turnbull government is optimistic Australian steel and aluminium exports will be spared Donald Trump’s tariffs after the White House flagged exemptions for some countries and following intense lobbying of the US President, including by Greg Norman. The Fin

Demand high for Jupiter IPO

Jupiter Mines is on track to easily fill its $200 million initial public offering with strong institutional investor interest in the refloat of the Brian Gilbertson-controlled company. The West

Turnbull’s NEG may be ‘dire’ for energy market

Smaller energy retailers said the Turnbull government’s National Energy Guarantee could entrench the power of big generators and retailers, warning major changes to the energy system could have ‘‘dire consequences’’ including higher prices. The Fin

Creditors claim VCS owes $9m

Insolvency specialists have recommended liquidating John Silverthorne’s failed mining contractor VCS Civil and Mining, which more than 200 unsecured creditors claim owes them $9 million. The West

Buyers clamour for CPC’s bush kingdom

The sale of one of Australia’s biggest agricultural empires has begun. The Aus

 

 

The Australian Financial Review

Page 1: The Turnbull government is optimistic Australian steel and aluminium exports will be spared Donald Trump’s tariffs after the White House flagged exemptions for some countries and following intense lobbying of the US President, including by Greg Norman.

Rio Tinto’s high-flying chief executive Jean-Sebastien Jacques believes corporate headquarters are a ‘‘concept of last century’’ and companies should want their employees to get out of the office and mix with customers and suppliers.

Page 3: The Reserve Bank of Australia and Treasury say economic growth will accelerate to 3 per cent this year from a disappointing 2017 average of 2.1 per cent. As a forecast, it sits at the outer-edge of most market economists’ estimates.                                                                                   

Page 4: The federal government should stop spending billions on outsourcing to big four consulting firms while they simultaneously advise some of Australia’s biggest companies on how to minimise tax liabilities, think tank Per Capita has warned.

Page 6: Employers have launched legal action to challenge the Fair Work Commission decision allowing the merger of the militant construction and maritime unions, potentially buying time for the government to pass legislation to block the new union.

Page 7: Frank Lowy says at 87 he is ready to retire, but admits he felt trepidation about the $32.8 billion deal to sell the 57-year-old shopping centre empire he built from the ground up.

Page 12: The Australian government is resisting calls for targeted sail-through operations in the South China Sea amid concern in the Department of Foreign Affairs and Trade (DFAT) it would unnecessarily ratchet up tensions in the region.

Smaller energy retailers said the Turnbull government’s National Energy Guarantee could entrench the power of big generators and retailers, warning major changes to the energy system could have ‘‘dire consequences’’ including higher prices.

Page 13: The Minerals Council of Australia is lobbying the federal government for urgent changes to native title laws which it says will remove uncertainty over the status of mining leases and tenements following recent court cases.

Page 14: China says a trade war with the United States would hurt both countries, but the world’s second-biggest economy did not rule out a ‘‘necessary’’ response if the two countries could not resolve their differences.

Page 17: Traders at Commonwealth Bank, Deutsche Bank and bond fund giant PIMCO discussed how they could move a key financial benchmark by coordinating the accumulation and then the dumping of bank bills worth billions of dollars into the market.

Page 19: Australia’s largest premium department store chain appears poised to fall out of the benchmark S&P/ASX 200 Index – a move that would force index funds to sell their stock. It comes after a 60 per cent fall in Myer’s share price in the past 12 months.

Page 21: ConocoPhillips and Santos are pushing ahead with their $500 million plan to develop the Barossa gas field off Australia’s north coast to replace declining supplies for Darwin LNG, with Santos declaring that Sunrise gas has ‘‘virtually no chance’’ of being processed there despite this week’s milestone treaty with Timor-Leste.

 

 

The Australian

Page 1: Bill Shorten has ignited a Catholic education funding war with the Coalition by formally offering the faith’s schools more than $250 million extra in the first two years of office and billions of dollars over 10 years.

Donald Trump’s threat to impose tariffs on steel and aluminium products has sparked a warning from Trade Minister Steve Ciobo that the fusing of protectionism and patriotism could lead to “economic ruin”.

Page 2: The president of the crisis-hit West Australian Nationals has written to members to complain about media leaks and divisions that have engulfed the party in the fallout from the sexual harassment complaint that helped bring down Barnaby Joyce.

Page 3: A Greens-led delegation to Belgium to promote a controversial documentary about the Australian kangaroo-meat industry discussed a strategy to dismantle and cripple exports to Europe, the industry’s largest market.

Page 6: Queensland cattleman Alex Stubbs will target Japan’s lucrative “Jap Ox” market under the revamped Trans-Pacific Partnership that will open new trade opportunities for Australian farmers.

Page 10: Two of the largest listed aged-care companies in Australia will repay residents or their estates millions of dollars skimmed from clients under the guise of an asset refurbishment fee that has now been declared illegal by the Federal Court.

Page 19: Australian biotech giant CSL could lose its long-term role of preparing the country for flu pandemics and supplying other speciality vaccines for locals, with the government calling for advice on a new manufacturing facility.

Page 21: The sale of one of Australia’s biggest agricultural empires has begun.

 

 

The West Australian

Page 1: Almost 80,000 West Australians are waiting to see a public hospital specialist to find out if they need surgery, with an average waiting time of more than a year at Fiona Stanley Hospital.

Page 5: The Department of Local Government is believed to be investigating the City of Perth’s decision to trigger a crisis management plan hours before a meeting at which acting chief executive Robert Mianich was expected to be ousted.

Page 9: Cafe-loving Leederville has become the go-to suburb in WA as properties are snapped up by buyers at the fastest rate in the State.

Page 12: Subcontractors from a Subiaco building site will protest next week after being told they will not get paid for about $5 million in work after builder Cooper & Oxley went into administration.

Page 15: Prime Minister Malcolm Turnbull is urging WA to join the Commonwealth’s landmark redress scheme for victims of child sex abuse as NSW and Victoria reveal they will be the first States to sign up.

Page 24: Regional cabbies could be shielded from a proposed industry levy that is central to the State Government’s plans to buy back taxi plates.

Business: Northern Star Resources is poised to clear a major obstacle to its production goal after striking a deal to buy Westgold Resources’ South Kalgoorlie operations for $80 million.

Insolvency specialists have recommended liquidating John Silverthorne’s failed mining contractor VCS Civil and Mining, which more than 200 unsecured creditors claim owes them $9 million.

Lumiere developers Edge Visionary Living will again appeal the latest knockback to a 34-level mixed-use tower in South Perth.

Jupiter Mines is on track to easily fill its $200 million initial public offering with strong institutional investor interest in the refloat of the Brian Gilbertson-controlled company.

Agriculture Minister Alannah MacTiernan believes a WA carbon farming industry could be possible for the rangelands under existing pastoral lease legislation.

Gina Rinehart is boosting her Australian cattle herd to serve up more premium steak to discerning customers in China.

 

 

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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