04/07/2018 - 06:45

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04/07/2018 - 06:45

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ASIC calls for crackdown on card sharks

ASIC calls for crackdown on card sharks

The financial regulator is planning a crackdown in the $50 billion-plus credit card industry, in a move that could force banks to limit debt to what customers could repay within three years. The Aus

Primewest’s $367m US push

Primewest has unveiled a $US500 million ($367 million) plan to benefit from a resurgent US property market. The West

ACCC takes aim at tech giants

Competition regulator Rod Sims has promised to scrutinise the tech giants’ competitive impact to protect quality journalism, as an ACCC inquiry examining the market power of Google and Facebook gathers steam. The Aus

Loan reps prey on Aboriginals

Indigenous Australians have been preyed on by unscrupulous financial companies, leaving some of the poorest people in the nation paying interest rates of up to 884 per cent on some goods, the banking royal commission has been told. The West

China moves to dampen market pain

Beijing has ramped up efforts to curb panic selling after China’s stockmarket hit new two-year lows on growing concern about US trade tariffs, a slowing economy, a weaker currency and the risk of the country’s unregulated debt spiralling out of control. The Fin

RAC venture eyes new buys

The RAC’s home care and allied health joint venture with private equity giant Quadrant is targeting more businesses after rolling up more than $30 million of acquisitions in its first year. The West

RBA dumps strong $A warning

The Reserve Bank of Australia has for the first time in two years dumped warnings about the strong dollar but raised its alert-level on rising wholesale bank funding pressures that could retard its ability to hike the official cash rate as a buffer against the next downturn. The Fin

Terraces for Claremont

Iris Residential has unveiled its $120 million, 142-apartment Claremont on the Park development — The Terraces at Claremont — incorporating ground floor retail and commercial space, cutting edge sustainability elements and landscaped podium gardens in a design by Hassell architects. The West

Great white hope

An electronic barrier of almost 180 non-lethal drum lines would protect WA’s most popular stretches of coast from sharks under a comprehensive strategy put forward by the Federal Government. The West

 

 

The Australian Financial Review

Page 1: Beijing has ramped up efforts to curb panic selling after China’s stockmarket hit new two-year lows on growing concern about US trade tariffs, a slowing economy, a weaker currency and the risk of the country’s unregulated debt spiralling out of control.

Resources industry leader Tony Haggarty has blasted anti-coal sentiment and energy policy in Australia as evidence emerges that opposition to new mines has forced countries such as Japan to burn significantly more lower-quality coal.

Page 2: Solar and wind farms went ahead at a blistering pace in the first half of 2018, reshaping the grid even as the Turnbull government debated its National Energy Guarantee.

Page 6: Labor’s changes to negative gearing may be a ‘‘harder political sell’’ amid falling property prices, tax experts say, while adding their rationale is broader.

Page 8: The Reserve Bank of Australia has for the first time in two years dumped warnings about the strong dollar but raised its alert-level on rising wholesale bank funding pressures that could retard its ability to hike the official cash rate as a buffer against the next downturn.

Page 9: The Turnbull government is being lobbied to increase its appointments to the Fair Work Commission before the next election and bring in 10-year term limits to ensure the workplace tribunal does not become disconnected from modern business.

Page 18: Domain chairman Nick Falloon said the company’s new chief executive, Google Australia boss Jason Pellegrino, has a strong track record that should see him drive growth at the digital real estate classifieds and services business.

Page 27: A downturn in commodity prices since the middle of June has split fund managers on whether metals will continue to slide on fears about the health of the Chinese economy and trade wars, or if supply trends will help trigger a price recovery.

Wagering group Tabcorp has exercised its option with Jumbo Interactive to acquire 3.5 million shares at $2.37 each.

Sonic Healthcare has acquired German pathology practice Pathologie Trier.

Page 29: Nearly half of Australians are choosing to rent by choice and more than half will still be renting in three years’ time, making the build-to-rent sector more viable than it has ever been, according to new research by Knight Frank.

Page 31: New dwelling approvals were down 3.2 per cent in May, providing a worse outlook than expected, the latest data from the Australian Bureau of Statistics show.

Page 33: The level of e-commerce in Australia is set to follow the boom it has experienced in the US and that means demand for new industrial property here is set to surge, according to analysts.

 

 

The Australian

Page 1: Former Malaysian prime minister Najib Razak has been arrested by the country’s powerful anticorruption agency over his alleged role in the $US4.5 billion looting of sovereign wealth fund 1MDB.

The Nationals are demanding the construction of “a minimum of three” baseload power stations as the price of their support for Malcolm Turnbull’s national energy guarantee, as Tony Abbott last night called on the government to abandon the Paris climate agreement.

Page 4: Many of the nation’s biggest super funds will be forced to restructure their holdings as it can be revealed they collectively hold billions of dollars that are promoted as cash investments, but are held in riskier products.

Big businesses in Australia and other rich countries are exerting more market power than ever before, according to a new global study that finds mark-ups on goods and services have risen almost 50 per cent since the 1980s.

Page 19: The financial regulator is planning a crackdown in the $50 billion-plus credit card industry, in a move that could force banks to limit debt to what customers could repay within three years.

Competition regulator Rod Sims has promised to scrutinise the tech giants’ competitive impact to protect quality journalism, as an ACCC inquiry examining the market power of Google and Facebook gathers steam.

Page 20: Macquarie is close to finalising an investment of about $US800 million ($1.09 billion) to buy an 80 per cent stake in T5 Data Centres in the US.

Page 22: Macquarie Group’s banking arm has stepped up its aggressive lending to property investors in a move that will be seen as a sign of risk-taking and not viewed positively by the market, UBS has warned.

 

 

The West Australian

Page 1: An electronic barrier of almost 180 non-lethal drum lines would protect WA’s most popular stretches of coast from sharks under a comprehensive strategy put forward by the Federal Government.

Page 9: Indigenous Australians have been preyed on by unscrupulous financial companies, leaving some of the poorest people in the nation paying interest rates of up to 884 per cent on some goods, the banking royal commission has been told.

Page 16: Premier Mark McGowan has described as “unfortunate” the amount of money the State Government has spent on consultants after revelations that one company was paid $440,000 for a report on the sale of the TAB.

Business: WA’s uber prospector Mark Creasy has struck another multimillion-dollar deal with miner Independence Group over his landholdings in the Fraser Range east of Norseman.

WA energy provider Synergy is casting its eye to the Pilbara to store gas in an effort to help rein in rising energy costs.

The RAC’s home care and allied health joint venture with private equity giant Quadrant is targeting more businesses after rolling up more than $30 million of acquisitions in its first year.

Property: Primewest has unveiled a $US500 million ($367 million) plan to benefit from a resurgent US property market.

Subcontractors WA’s Louise Stewart has revealed she plans to step down from her role as chairwoman of the advocacy group to pursue a tech-based solution to the non-payment of subcontractors.

Warrington Property has unveiled the fruits of its $50 million, 18-month labour of love, the substantial upgrade and overhaul of William Square in Northbridge.

Iris Residential has unveiled its $120 million, 142-apartment Claremont on the Park development — The Terraces at Claremont — incorporating ground floor retail and commercial space, cutting edge sustainability elements and landscaped podium gardens in a design by Hassell architects.

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