02/05/2018 - 06:12

Morning Headlines

02/05/2018 - 06:12

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US extends tariff exemptions

Morning Headlines

US extends tariff exemptions

The Turnbull government has welcomed Donald Trump’s move to confirm exemptions from steel and aluminium tariffs, assuring the US Australia won’t be a back door for dumping of cheap Chinese products. The Fin

Giving away $36.4m

During a heart-warming event to distribute $36.4 million to 43 beneficiaries yesterday, Mr Stokes revealed Mr Goyder would take over as Telethon chairman. The West

Live exporters agree to slash stock density in summer

Live exporters have agreed to cut stocking densities of sheep aboard vessels during summer months by 17.5 per cent as part of a series of measures aimed at avoiding further animal cruelty scandals. The West

CBA stung: pay cuts for executives

The Australian Prudential Regulation Authority imposed a $1 billion capital penalty and a court-enforceable agreement to implement 35 changes recommended by a high-powered panel that found CBA’s long record of huge profits led to a “dulling of the senses within the board” to growing non-financial risks. The Aus

China warns tourists of security risk in Australia

China has highlighted security risks for its citizens visiting Australia, the United States and nine other countries, in a travel warning that will worry tourism operators becoming increasingly dependent on booming Chinese visitor numbers. The Fin

Taxpayers pay contractors double as outsourcing explodes

Taxpayers are paying up to twice as much for contractors as permanent employees, amid an explosion in the use of labour-hire staff by the federal government. The Aus

Acquisition to boost Austal’s US presence

Listed shipbuilder Austal’s expansion ambitions in America have received a boost, with the Perth-based company acquiring an aluminium technology company whose biggest client is the US Navy. The Fin

US uni buys into energy blockchain

Blockchain energy trading pioneer Power Ledger has struck a deal to deploy its technology platform commercially at Northwestern University, a prestigious private research school near Chicago. The Fin

Treasurer to backflip on pension cut

Treasurer Scott Morrison will use next week’s Budget to reverse an unpopular decision to scrap the energy supplement as the Federal Government moves to clear away “zombie” measures and put the coalition on an election war-footing. The West

 

 

The Australian Financial Review

Page 3: The Tax Office began contacting 106 Australian private clients of Credit Suisse yesterday over $900 million in suspicious transactions linked to secret numbered accounts.

KPMG and Ernst & Young have engaged in the long-standing and widespread practice of retiring partners as young as 58 years old in what legal experts have warned is a clear case of unlawful age discrimination.

Reserve Bank of Australia governor Philip Lowe says strong government infrastructure investment, rising exports and solid business conditions will boost economic growth and drive down unemployment.

Page 4: Blockchain energy trading pioneer Power Ledger has struck a deal to deploy its technology platform commercially at Northwestern University, a prestigious private research school near Chicago.

Page 14: China has highlighted security risks for its citizens visiting Australia, the United States and nine other countries, in a travel warning that will worry tourism operators becoming increasingly dependent on booming Chinese visitor numbers.

Page 15: The Turnbull government has welcomed Donald Trump’s move to confirm exemptions from steel and aluminium tariffs, assuring the US Australia won’t be a back door for dumping of cheap Chinese products.

Page 16: Almost 40 per cent of senior executives in Australia and New Zealand believe bribery and corrupt business practices are common in industry, almost double the proportion holding that view in other developed countries but behind the percentage with this view in developing countries, according to the latest EY Global Fraud Survey.

Page 17: ANZ Banking Group chief executive Shayne Elliott says the Hayne royal commission marks a ‘‘watershed moment’’ for the banking sector but warned shareholders it would result in slower loan growth.

Australia’s corporate regulator has expanded its legal proceedings against Rio Tinto over its Mozambique coal debacle, in a move that one institutional shareholder said reinforced concerns about the company’s handling of governance, sustainability and environmental issues.

Page 19: Mineral Resources is looking for equity partners with deep pockets as it steps up development of its world-class Wodgina lithium project close to the Port Hedland export hub in Western Australia.

Page 20: Oil Search chief executive Peter Botten has put a figure of $US11 billion ($14.6 billion) to $US12 billion on the initial cost of the next phase of LNG expansion in Papua New Guinea, with further investment in gas field development deferred until later to ease funding, including for the PNG government.

Page 22: Walmart, the world’s largest retailer, could turn its sights to the $100 billion Australian grocery market after selling control of British supermarket chain Asda to Sainsbury’s.

Page 30: Listed shipbuilder Austal’s expansion ambitions in America have received a boost, with the Perth-based company acquiring an aluminium technology company whose biggest client is the US Navy.

Page 37: Consumer protection watchdogs across the country are looking into the activities of fixed fee real estate agency Purplebricks, following its prosecution by Queensland authorities last month.

 

 

The Australian

Page 1: The Australian Prudential Regulation Authority imposed a $1 billion capital penalty and a court-enforceable agreement to implement 35 changes recommended by a high-powered panel that found CBA’s long record of huge profits led to a “dulling of the senses within the board” to growing non-financial risks.

Page 4: Taxpayers are paying up to twice as much for contractors as permanent employees, amid an explosion in the use of labour-hire staff by the federal government.

Page 5: AMP and the nation’s big banks were at least 12 times more likely than any other of the nation’s biggest 200 listed companies to donate or make other payments to the federal Liberal Party or the ALP last financial year, and their donations were more than double that donated by their peers after adjusting for their size.

Page 21: Lottoland has stepped up its fight for survival in Australia with claims the industry association that led the charge to ban it is broke and lied about its membership numbers.

Optus is holding on to its exclusive broadcast rights for the English Premier League for another three years, with the telco’s boss Allen Lew confident that its ongoing investment in the code will translate into new customers.

Page 22: Cooper Energy and Japan’s Mitsui have agreed to buy BHP’s Minerva gas plant near Port Campbell in Victoria for a low, undisclosed price, in a move that will reap the pair big benefits if an offshore exploration push starting next year is successful.

Page 26: The federal government expects to shave $100 million off its office leasing costs over the next four years as it moves to cram more public servants into empty desks across its near 600 tenancies, according to a government report to be released today.

 

 

The West Australian

Telethon Wrap Page 2: During a heart-warming event to distribute $36.4 million to 43 beneficiaries yesterday, Mr Stokes revealed Mr Goyder would take over as Telethon chairman.

Page 8: Treasurer Scott Morrison will use next week’s Budget to reverse an unpopular decision to scrap the energy supplement as the Federal Government moves to clear away “zombie” measures and put the coalition on an election war-footing.

Bulk-billing rates are up 1.7 per cent in the State compared with the same period a year ago, with the Government’s gradual thawing of the Medicare rebate freeze from July 1 last year reflected in the figures.

Business: Live exporters have agreed to cut stocking densities of sheep aboard vessels during summer months by 17.5 per cent as part of a series of measures aimed at avoiding further animal cruelty scandals.

Australian manufacturers are calling on the McGowan Government to roll back payroll tax and stamp duty in favour of a general property tax.

More than $600,000 is owed to suppliers and tradies caught up in the liquidation of rich-list renovator Sasha de Bretton’s Million Dollar Makeovers.

ANZ is counting on its new slim profile to help it squeeze through tough times as lending standards tighten after banking royal commission revelations of lax background checks and poor record keeping

Nicheliving has to address a number of conditions before the Australian Securities Exchange will revisit its decision to reject the residential property developer’s listing.

Property: Undercover parking at Northam Boulevard now doubles as a solar array which generates 40 per cent of the shopping centre’s energy needs.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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