Coal to reclaim mantle as nation’s top export earner
Coal to reclaim mantle as nation’s top export earner
Coal is set to regain its spot as the nation’s biggest export earner amid higher prices and surging demand from Asia, sparking fresh calls from the Turnbull government for Labor to end its “war on coal”. The Aus
Big four banks to lift mortgage rates
The big four banks, which account for more than eight in 10 of the nation’s mortgages, are expected to raise rates because of soaring funding costs, according to Citi. The Fin
No RBA rate hikes for a year
Market economists have sharply pushed out the expected timing of the next Reserve Bank interest rate rise, amid warnings that Australia’s central bank is running out of ‘‘policy space’’ to deal with the next economic downturn. The Fin
Shorten promises to reinstate penalty rates
Federal Opposition Leader Bill Shorten has vowed to reverse cuts to penalty rates if Labor wins government, as new polling reveals majority support for his position in key Liberal-held seats in WA. The West
China flights bid to boost WA tourism
The State Government is negotiating with some of the world’s biggest airlines to secure direct flights from India, Japan and China in a bid to boost WA’s ailing tourism sector. The West
Energy grid ‘gaming’ cost consumers $3.4b
Energy Minister Josh Frydenberg will ask regulators to investigate ‘‘gaming’’ of the National Electricity Market after a new report found it cost consumers $3.4 billion and the worst culprits were Queensland government-owned generators Stanwell and CS Energy. The Fin
Big trade war pushes steel to six-year high
The price of steel in Australia is nearing a six-year high, pushing up the cost of new housing and infrastructure projects, as the Turnbull government continues to impose tough anti-dumping measures on imported steel. The Aus
Telstra merger supercharges ventures fund
Telstra will ramp up its investments in cutting edge technology after committing another $US125 million in a merger of its venture business with private equity powerhouse HarbourVest Partners to create a new fund valued at $675 million. The Fin
Staff cut risk to rates update
The State Government agency responsible for WA’s property valuation system has lost a third of its valuers, sparking concerns about the accuracy of the coming gross rental valuation, which underpins local council rates notices. The West
Saudis to up oil output by 2m barrels: Trump
Donald Trump said yesterday that he had received assurances from King Salman of Saudi Arabia that the kingdom would increase oil production, “maybe up to 2,000,000 barrels” in response to turmoil in Iran and Venezuela. The Aus
The Australian Financial Review
Page 1: Market economists have sharply pushed out the expected timing of the next Reserve Bank interest rate rise, amid warnings that Australia’s central bank is running out of ‘‘policy space’’ to deal with the next economic downturn.
The Australian Securities and Investments Commission served Blue Sky Alternative Investments with a demand to produce more than two years of its internal ledgers, three weeks ago.
Jailed former Rio Tinto executive Stern Hu will be a free man this week as China prepares to release the Australian citizen from a Shanghai prison where he has served a nine-year sentence for bribery and industrial espionage.
Page 3: Parents are considering whether it’s worth returning to work as childcare centres across the country increase their fees after swallowing the federal subsidy, which starts on Monday.
The big four banks, which account for more than eight in 10 of the nation’s mortgages, are expected to raise rates because of soaring funding costs, according to Citi.
Page 4: Energy Minister Josh Frydenberg will ask regulators to investigate ‘‘gaming’’ of the National Electricity Market after a new report found it cost consumers $3.4 billion and the worst culprits were Queensland government-owned generators Stanwell and CS Energy.
Page 7: KPMG staff accused of rigging a $600,000 review of the statistic bureau’s IT systems ahead of the 2021 census may be called to appear before a parliamentary inquiry into contractor spending.
Page 8: The price of steel in Australia is nearing a six-year high, pushing up the cost of new housing and infrastructure projects, as the Turnbull government continues to impose tough anti-dumping measures on imported steel.
Page 13: Telstra will ramp up its investments in cutting edge technology after committing another $US125 million in a merger of its venture business with private equity powerhouse HarbourVest Partners to create a new fund valued at $675 million.
Embattled financial services group AMP is preparing to overhaul a core technology system in its banking division, and is understood to have signed a preliminary agreement with global giant Temenos.
Page 16: A loophole in the Corporations Act that allows some funeral insurers to avoid complying with product disclosure rules will be examined when the banking royal commission moves to Darwin this week.
Page 19: Down about 70 per cent from its December high after sliding for a fourth straight day on Friday, Bitcoin is getting ever-closer to matching the Nasdaq Composite Index’s 78 per cent peak-to-trough plunge after the US dotcom bubble burst.
Page 21: Economists have lowered their estimates of where the Australian dollar will trade by the end of this year, crystallising a more bearish turn over the past couple of months in light of a stronger greenback.
Page 31: Over the last two months REITS globally have returned around 5.5 per cent while world equities have given up around 2 per cent, the global analyst team, including Ben Brayshaw in Australia, noted.
The Australian
Page 1: With Mr Shorten’s leadership under pressure leading into five critical by-elections, now less than four weeks away, the Coalition has again closed the gap to within two points to trail Labor 51-49 on a two-party-preferred basis.
The corporate regulator is acting against its own charter by charging the public and every registered business in the nation fees that are hundreds or even thousands of times more than what the services cost to deliver.
Page 2: Coal is set to regain its spot as the nation’s biggest export earner amid higher prices and surging demand from Asia, sparking fresh calls from the Turnbull government for Labor to end its “war on coal”.
Trade Minister Steven Ciobo has distanced Australia from an EU push to favour climate-friendly goods and the promotion of “EU standards on animal welfare” in the new European trade deal.
Resources Minister Matt Canavan said he expected Treasurer Scott Morrison would “strongly defend the national interest” in deciding whether to block a Hong Kong bid for majority control of Australia’s gas pipelines.
Page 3: Attorney-General Christian Porter has seized control of a legal aid scheme that granted $525,000 of taxpayers’ money to defend notorious paedophile Peter Scully as he faced trial in The Philippines, tightening eligibility rules and requiring ministerial approval of all funding decisions.
Page 4: One Nation supporters have broken with party leader Pauline Hanson’s position on company tax cuts, with almost three-quarters backing them for all businesses and a majority wanting them done immediately.
Page 8: Donald Trump said yesterday that he had received assurances from King Salman of Saudi Arabia that the kingdom would increase oil production, “maybe up to 2,000,000 barrels” in response to turmoil in Iran and Venezuela.
Page 18: As Deutsche Bank scales back its global operations due to challenges closer to its German head office, some are now wondering whether the pain that the bank is facing could lead to a sale of its stake in Craigs Investment Partners.
A minority shareholder in Tyme-Digital, Commonwealth Bank’s digital banking business in South Africa, is the most likely buyer of the business.
Page 20: The under-pressure owner of some of Australia’s biggest furniture retailers has written off the value of its global assets by $US12.4 billion ($16.7bn) as it seeks to recover from a devastating accounting scandal.
Page 21: New partnerships of developers and community housing providers are expected to line up to tap the federal government’s $1 billion infrastructure fund and new bond aggregator after legislation aimed at boosting affordable housing was passed last week.
The West Australian
Page 1: Extra supplies of the flu vaccine are on the way to WA after health authorities sent out more than half a million of the shots so far this year — more than for all of last year.
Page 3: The State Government is negotiating with some of the world’s biggest airlines to secure direct flights from India, Japan and China in a bid to boost WA’s ailing tourism sector.
Page 4: Federal Opposition Leader Bill Shorten has vowed to reverse cuts to penalty rates if Labor wins government, as new polling reveals majority support for his position in key Liberal-held seats in WA.
Pauline Hanson’s One Nation is set to preference the Liberal National Party ahead of Labor in the key Longman by-election, tipping the scales in the coalition’s favour.
Page 6: Environment Minister Stephen Dawson said among the initiatives he was working on were a container deposit scheme and examining potential alternatives to plastic straws.
Page 18: Many borrowers face a home loan disaster as they are forced to switch from interest-only deals to principal-and-interest repayments, figures show.
Business: The State Government agency responsible for WA’s property valuation system has lost a third of its valuers, sparking concerns about the accuracy of the coming gross rental valuation, which underpins local council rates notices.
