12/03/2018 - 06:06

Morning Headlines

12/03/2018 - 06:06

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Morning Headlines

TPP-11 deal tipped to accelerate nation’s GDP by $18 billion a year

The Trans-Pacific trade deal signed by Australia and 10 other countries last week could boost Australian exports by $30 billion and increase real GDP by $18 billion by 2030, according to economic modelling released by industry groups endorsing the deal. The Fin

BlueScope, Rio winners in trade deal

Rio Tinto and BlueScope Steel are expected to emerge as the big winners from Australia’s exemption from US steel and aluminium tariffs set to come into force in a matter of weeks. The Aus

Wyatt cools on power choices

WA households will be denied indefinitely the right to choose where they buy their electricity as the McGowan Government backs away from plans to end Synergy’s longstanding monopoly. The West

Big four slash rates in mortgage ‘war’

Australia and New Zealand Banking Group and National Australia Bank have followed Commonwealth Bank of Australia and Westpac Group by cutting key property rates by up to 50 basis points. The Fin

$1.3bn hit as solar subsidies surge

Energy consumers will be forced to pay more than $1 billion for rooftop solar installation subsidies this year, increasing power costs by up to $100 per household, according to an industry analysis. The Aus

Derby, we have a plan: spaceport

Rockets could be blasting into orbit from Derby within five years if the State and Federal governments get behind an ambitious proposal from the Ukrainian Government. The West

BGC slapped with $2m lawsuit over dismissal

One of the mining industry’s largest contractors, BGC Contracting, is facing a $2 million lawsuit from an executive who claims he was fired for accusing the chief operating officer of ‘‘indecisiveness’’. The Fin

Banks face card cost claims

Banks are about to face class actions from more than 100,000 customers duped into paying $40 million-plus for “worthless” credit-card insurance. The West

 

 

The Australian Financial Review

Page 1: Australia will upgrade diplomatic ties with Vietnam this week as Canberra looks to expand its influence in the region and set up a network of security agreements to hedge against a more assertive China.

Page 2: A fierce Left-Right battle over power structures in the Labor Party is set to unfold at the ALP’s national conference in July after former treasurer Wayne Swan announced he would be running against frontbencher Mark Butler for the position of national president.

Page 3: The Australian Securities and Investments Commission (ASIC) rarely punishes financial services wrongdoing through the courts, raising questions about whether the regulator sent strong enough deterrence messages in the years leading up to the royal commission, University of Melbourne economics professor Ian Ramsay says.

Page 4: The Turnbull government will consider supporting a European Union move against the United States’ steel and aluminium tariffs at the World Trade Organisation despite winning an exemption from the tariff hike over the weekend.

The Trans-Pacific trade deal signed by Australia and 10 other countries last week could boost Australian exports by $30 billion and increase real GDP by $18 billion by 2030, according to economic modelling released by industry groups endorsing the deal.

Page 5: Goldman Sachs says it can find no electronic record of the Prime Minister’s son, Alex Turnbull (pictured) raising concerns about a Malaysian deal which he said had made him a whistleblower, nor of any action taken against him as a result.

Page 6: Australia and New Zealand Banking Group and National Australia Bank have followed Commonwealth Bank of Australia and Westpac Group by cutting key property rates by up to 50 basis points.

New York-listed Chinese high-net worth wealth manager Noah Holdings launched its first Australian office in Melbourne on Friday, with plans to invest up to $2 billion in Australian private equity deals over the next four years.

One of the mining industry’s largest contractors, BGC Contracting, is facing a $2 million lawsuit from an executive who claims he was fired for accusing the chief operating officer of ‘‘indecisiveness’’.

Page 8: Shocking new estimates of gas reserves have slashed the volume of gas expected to be recovered from coal seams in Queensland just as a supply deficit looms in the south with the decline of Bass Strait fields.

Page 11: China’s legislators were last night poised to approve controversial constitutional changes which would technically allow Xi Jinping to remain president for the rest of his life, confirming his status as the country’s strongest leader since Mao Zedong.

Page 12: The race to build a quantum computer will create a global industry worth $37 billion by 2021, Goldman Sachs predicts, but universities concede Australia has a chronic shortage of the talent required to take its share.

Page 13: Macquarie’s plans to wind up its underperforming Russian investment fund have hit a snag as questions are asked about a deal made with an alleged US fraudster with links to a Georgian businessman once wanted by Interpol.

Page 14: Indonesian coal giant PT Adaro Energy Tbk is a latecomer to the auction for Rio Tinto’s $2.5 billion-plus Queensland coal portfolio.

Page 15: Melbourne radio sports network SEN is set to be rolled out nationally after its merger with prominent media identity Craig Hutchison’s private Crocmedia media and content syndication business is ratified at an extraordinary general meeting for shareholders of listed minnow Pacific Star Network on Thursday.

Page 17: The government faces a blow-out in the age pension bill if it fails to come up with policies that counter the growth of the gig economy, superannuation industry executives say.

 

 

The Australian

Page 1: World-first testing in Australia on recalled VW cars shows they use up to 14 per cent more fuel after an enforced pollution fix, and still emit four times the allowable level of noxious gases.

Energy consumers will be forced to pay more than $1 billion for rooftop solar installation subsidies this year, increasing power costs by up to $100 per household, according to an industry analysis.

Page 2: Government-influenced services are soaring in price at many times the overall inflation rate, with electricity prices having more than tripled over the past two decades.

Page 4: The $2 billion spirits industry is lobbying the federal government to reform an excise it claims is strangling the booming boutique sector and has called for a US style tax cut to bring local regulations in line with the rest of the world.

Page 6: Steven Worrall, chief executive of Microsoft Australia, said claims that about 45 per cent of jobs would be lost or severely disrupted as technology developed were about double the likely level, stressing change so far had occurred alongside strong jobs growth.

Page 8: Consumption of cigarettes has risen for the first time in more than a decade, adding to concerns about the effectiveness of measures to reduce smoking.

Page 18: Rio Tinto and BlueScope Steel are expected to emerge as the big winners from Australia’s exemption from US steel and aluminium tariffs set to come into force in a matter of weeks.

Australia is likely to miss out on the next multi-billion-dollar wave of new liquefied natural gas developments, senior Royal Dutch Shell executive Steve Hill has warned, with the nation’s potential growth projects set to struggle to compete against rival proposals in the Middle East, Russia and Africa.

Page 21: Despite a raft of store closures the major retail landlords are still keeping occupancy levels high and seeing turnover lift, according to new research.

Page 22: Commonwealth Bank will raise up to $1.25 billion in its latest hybrid securities issue as the bank works towards maintaining the higher capital levels put in place by the domestic regulator.

 

 

The West Australian

Page 1: Rockets could be blasting into orbit from Derby within five years if the State and Federal governments get behind an ambitious proposal from the Ukrainian Government.

Page 3: Perth mums who want to go back to work are being turned off by rocketing childcare fees that are leaving them financially worse off despite an extra wage coming through the door.

Page 5: WA households will be denied indefinitely the right to choose where they buy their electricity as the McGowan Government backs away from plans to end Synergy’s longstanding monopoly.

Page 6: A Westpac-Melbourne Institute measure of the small business sector shows growing confidence nationally, but especially in WA, over the past three months.

Page 9: Fremantle’s ageing passenger terminal will get a $3 million facelift in a bid to entice more cruise ships to the port city.

Page 12: The building industry believes that if State governments ease zoning restrictions 20,000 extra homes could be built over the next five years.

Page 15: A generation of young Australians will not know what it is like to have a sick day or a paid holiday, ACTU boss Sally McManus has warned, as unions seek to overhaul the nation’s workplace laws.

Business: Banks are about to face class actions from more than 100,000 customers duped into paying $40 million-plus for “worthless” credit-card insurance.

WA nickel hopeful St George Mining has banked $4 million after tapping institutional and sophisticated investors for funding of its promising but rain-disrupted nickel-copper sulphide project near Leonora.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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