25/06/2018 - 06:25

Morning Headlines

25/06/2018 - 06:25

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Building failures hit WA for up to $654m

Morning Headlines

Building failures hit WA for up to $654m

WA is paying an astronomical price for construction industry insolvencies with a State Government discussion paper revealing that failing building companies cost the economy between $337 million and $654 million in 2016-17. The West

War over WA lithium mine heads to trial

The escalating conflict between Talison Lithium and Resource Capital Funds-backed Global Advanced Metals threatens to derail plans to double production of lithium concentrate at the Greenbushes mine in Western Australia to 1.34 million tonnes a year. The Fin

Perth house prices ‘slow to recover’

Strong growth for Perth house prices is still two years away and any recovery will be slow, according to a report. The West

Exporter ban risks 60,000 sheep

The suspension of the nation’s biggest live-sheep exporter could have a devastating impact on hundreds of West Australian farmers who are already facing soaring costs amid an unusually dry start to the season. The Aus

Tax cuts, Albanese policy foray fail to shift polls

The Turnbull government’s $144 billion income tax cuts and a leadership foray by opposition frontbencher Anthony Albanese have had no immediate effect on the political contest, with the latest poll showing Labor continuing to hold an election-winning lead over the Coalition. The Fin

ASBFEO calls on inquiry to probe bigger Bankwest picture

Commonwealth Bank’s takeover of Bankwest this week during hearings in Brisbane, small business ombudsman Kate Carnell said it needs to ‘‘more rigorously examine a range of unanswered questions’’ in order to get closure on the long-running saga. The Fin

Rio coy on big copper discovery

Rio Tinto has put its foot on more exploration ground in the sandy North Paterson province in Western Australia’s Pilbara region, as satellite photos indicate the miner may have a big copper discovery in the nearby dunes. The Aus

Libs land shock blow in WA poll

Just 15 months after being elected in a landslide, the McGowan government has been punished by voters who delivered a shock 9 per cent swing to the Liberal Party in the Darling Range by-election. The Aus

Fortescue gas terminal wins strategic status

The Andrew Forrest-backed NSW gas import terminal proposed for Port Kembla will have its regulatory approval period fast-tracked by six to eight months, after the state government declared it a critical infrastructure project because of its importance for energy security. The Fin

Childcare hopes dashed by fee hikes

Childcare centres across the country have jacked up their fees for the next financial year by as much as 10 per cent, or $12 a day, in a move that will strip away much of the affordability gain under the federal government’s new subsidy. The Aus

 

 

The Australian Financial Review

Page 1: A former board member has hit out at the Reserve Bank of Australia for talking itself into a monetary policy dead end and urged it to prepare households for a rising global interest rate environment through an official hike of at least 25 basis points.

The Turnbull government’s $144 billion income tax cuts and a leadership foray by opposition frontbencher Anthony Albanese have had no immediate effect on the political contest, with the latest poll showing Labor continuing to hold an election-winning lead over the Coalition.

Page 4: A group of senior industry and business chiefs will descend on federal parliament this week to urge sceptical Coalition backbenchers to swing behind the National Energy Guarantee.

Page 5: The federal government has ruled out any further compromise on company tax cuts, saying the Senate either must pass the entire remainder of the package this week or not at all.

Page 6: Many workers face a 26 per cent rise in the cost of insurance within superannuation because of federal budget changes, modelling by KPMG shows.

Page 7: Domain and Cricket Australia have inked a four-year naming rights sponsorship deal that will see the digital real estate classifieds and services company’s branding and content across mobile, web, social media, television and on ground.

Indian Commerce and Industry Minister Suresh Prabhu will arrive in Australian today for negotiations likely to demonstrate that it will be almost impossible to seal a comprehensive trade deal with a country many had hoped would become an important customer of Australia’s.

Page 10: Private providers and industry experts say it is time to open up the university sector which has 39 publicly funded universities but only four that are private.

Page 13: Telstra CEO Andy Penn has declared media remains an important part of his radical overhaul of the telecommunications provider, effectively ruling out selling his company’s stake in the newly merged Foxtel-Fox Sports in $2 billion worth of assets sales over the next two years.

Page 15: The Andrew Forrest-backed NSW gas import terminal proposed for Port Kembla will have its regulatory approval period fast-tracked by six to eight months, after the state government declared it a critical infrastructure project because of its importance for energy security.

Page 16: Announced inbound and domestic mergers and acquisitions amount to almost $US56 billion ($75.3 billion) as at June 22, reflecting an 85 per cent surge on the same time last year, according to Dealogic.

The owner of Australia’s biggest privately-owned waste management business, Dial A Dump, expects consolidation in the waste industry to accelerate as his two big ASX-listed rivals expand in an industry where scale is becoming increasingly important.

Page 16: With the Hayne royal commission set to reopen its examination into Commonwealth Bank’s takeover of Bankwest this week during hearings in Brisbane, small business ombudsman Kate Carnell said it needs to ‘‘more rigorously examine a range of unanswered questions’’ in order to get closure on the long-running saga.

Page 18: Language data and search services provider Appen is proving to be one of the best-performing technology stocks of the year; its share price has jumped almost 28 per cent in the past three weeks alone.

The escalating conflict between Talison Lithium and Resource Capital Funds-backed Global Advanced Metals threatens to derail plans to double production of lithium concentrate at the Greenbushes mine in Western Australia to 1.34 million tonnes a year.

 

 

The Australian

Page 1: Conservative crossbenchers have lashed Pauline Hanson for vowing to side with Labor and the Greens to block Malcolm Turnbull’s business tax cuts, as the government today intensifies its tax war with Bill Shorten by moving to force Senate debate on the final stage of its $65 billion plan.

Childcare centres across the country have jacked up their fees for the next financial year by as much as 10 per cent, or $12 a day, in a move that will strip away much of the affordability gain under the federal government’s new subsidy.

Page 3: The suspension of the nation’s biggest live-sheep exporter could have a devastating impact on hundreds of West Australian farmers who are already facing soaring costs amid an unusually dry start to the season.

Page 4: The Australian economy will need to produce 13 million extra jobs in the next half century just to accommodate population growth, according to Liberal senator Dean Smith, who has urged Malcolm Turnbull to put further curbs on immigration levels to protect the nation’s standard of living.

Page 5: The total pay of taxpayer-funded political staff in Malcolm Turnbull’s and Bill Shorten’s offices has surged 32 per cent over two years to $21 million, almost seven times private-sector wage growth over the same period.

Facebook groups have always been free but the social network’s chief executive, Mark Zuckerberg, is attempting to make money from them by letting administrators charge subscription fees from $4.99 to $29.99 a month to join premium subgroups containing exclusive posts.

Page 6: According to new data from financial services group ING, Australians are spending an average of $493 each a year on goods from international online retailers, with the nation spending $6.6 billion with digital overseas retailers in the past 12 months.

Just 15 months after being elected in a landslide, the McGowan government has been punished by voters who delivered a shock 9 per cent swing to the Liberal Party in the Darling Range by-election.

Page 18: Australian shares look set for a positive start to the week following Friday’s gains by markets in the US, Canada and Europe.

Page 19: Rising global trade tensions, including a return to protectionist measures, are among the biggest risks to an otherwise robust outlook for the global economy, the Swiss-based Bank of International Settlements has warned.

Rio Tinto has put its foot on more exploration ground in the sandy North Paterson province in Western Australia’s Pilbara region, as satellite photos indicate the miner may have a big copper discovery in the nearby dunes.

West African on Friday released the results of an updated feasibility study into its Sanbrado gold deposit in Burkina Faso, finding that the project could support more than 200,000 ounces a year of gold production for five years at an initial cash cost of just $US551 an ounce.

Page 21: The Costa Asset Management family office is advancing plans to float an agricultural property vehicle worth nearly $300 million.

 

 

The West Australian

Page 7: The Town of Cambridge has shed two of its six-member executive management team.

Page 11: Five per cent of all marriages in WA have been between same-sex couples in the six months since it became legal.

Page 13: Encouraging shops to extend their evening trading hours could help increase the amount of money Chinese tourists spend in Perth, a report suggests.

Page 14: Strong growth for Perth house prices is still two years away and any recovery will be slow, according to a report.

Business: WA is paying an astronomical price for construction industry insolvencies with a State Government discussion paper revealing that failing building companies cost the economy between $337 million and $654 million in 2016-17.

WA businesses are putting their money behind a bid for WA to be the $50 million centre of Australian research into the battery minerals industry as the sector grows to meet surging demand for batteries to support renewable 

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