WA economy ‘out of the woods’, says economic forecaster
WA economy ‘out of the woods’, says economic forecaster
Amid warnings the Turnbull Government was making the same mistake as the Howard government by spending a temporary revenue bump on expensive personal income tax cuts, Deloitte Access Economics said the outlook for WA was definitely brightening. The West
Coalition closing gap with Labor
Bill Shorten has claimed underdog status ahead of Saturday’s crucial Longman byelection, while a new national poll shows Labor clinging to a slim lead over the Coalition and Malcolm Turnbull’s personal approval ratings surging. The Fin
Mechatronics drives boom in engineer jobs
Western Australia’s Curtin University is fast-tracking a new double degree combining mechatronics and mechanical engineering, as the resources market rebounds and alarm bells ring over a looming shortage of engineering graduates. The Fin
APRA research ignored on banks’ high charges
The regulator responsible for the nation’s $2.6 trillion superannuation nest egg was warned by its analysts eight years ago that the major banks and finance companies were charging members more than 2½ times the market rates for services, delivering them billions of dollars a year in extra profits. The Aus
Pilbara looks to sun for new jobs
The Yamatji Marlpa Aboriginal Corporation, representing 25 native title claim groups, briefed federal Indigenous Affairs Minister Nigel Scullion at a meeting this month about its decision to take equity in a solar company bidding to supply solar power in the ore-rich Pilbara. The Aus
Exporter rejects legal threat
Live exporter Wellard has vowed it will not be bullied by animal activists after being threatened with legal action should it help Emanuel Exports ship tens of thousands of sheep stranded in a Baldivis feedlot. The West
Rising trade tension risks currency war
Investors are bracing for rocky money markets as rising trade tension between the US, China and Europe risks turning into a currency war between the economic giants, threatening to hurt global growth. The Aus
The Australian Financial Review
Page 1: Bill Shorten has claimed underdog status ahead of Saturday’s crucial Longman byelection, while a new national poll shows Labor clinging to a slim lead over the Coalition and Malcolm Turnbull’s personal approval ratings surging.
The corporate regulator is considering substantially lifting its minimum recommended asset threshold for self-managed superannuation funds.
Page 3: Western Australia’s Curtin University is fast-tracking a new double degree combining mechatronics and mechanical engineering, as the resources market rebounds and alarm bells ring over a looming shortage of engineering graduates.
Chinese lender Aoyin claims it wasted $5 million trying to establish a locally incorporated bank in Australia because of flawed advice from PwC.
Page 6: Esso is preparing to reactivate a bid to axe the workplace agreement for its Bass Strait offshore oil and gas operations, wiping out decades-old union conditions in a push to introduce new rosters.
Page 9: Deloitte Access Economics’ June Business Outlook argues the revenue surge from a buoyant economy has government budgets ‘‘the healthiest they’ve been in a decade’’ but a slowdown in China and a property crunch could choke the boom.
Page 16: Sydney-based private equity firm Quadrant is seeking to recapitalise its gyms roll-up, Fitness & Lifestyle Group, in a deal that will see the gym’s owner piled with new debt and its shareholders take a big dividend.
Page 17: The threat of an Australian class action over BHP Billiton’s involvement in the Samarco dam disaster has turned to action: the law firm leading the action says it has more than 3000 investors signed up to pursue the miner for losses.
Woodside Petroleum chief executive Peter Coleman has called for a fresh start on deliberations around the commercial development of the valuable Sunrise gas field in the Timor Sea, although is still ruling out an investment in an onshore LNG plant in Timor-Leste.
Page 19: Banking regulator APRA warned specialist agribusiness lender Rabobank in November 2017 that it was writing too many lower quality loans after one third of new business was found to be outside the bank’s own guidelines.
Page 32: Housing commencements will fall by almost a quarter over the next few years in the sharpest slump since the global financial crisis hit in 2008, offsetting growth in non-residential construction and pushing more builders over the edge, BIS Oxford Economics says.
The Australian
Page 1: The regulator responsible for the nation’s $2.6 trillion superannuation nest egg was warned by its analysts eight years ago that the major banks and finance companies were charging members more than 2½ times the market rates for services, delivering them billions of dollars a year in extra profits.
Page 2: Federal government departments are hiring consultants to draft their innocuous responses to parliamentary inquiries amid claims of a heavy workload.
Page 3: Widespread exploitation of overseas students is threatening Australia’s $32 billion international education sector, with the head of a high-level government inquiry estimating up to 145,000 students on working visas are being underpaid by employers.
Page 6: The Yamatji Marlpa Aboriginal Corporation, representing 25 native title claim groups, briefed federal Indigenous Affairs Minister Nigel Scullion at a meeting this month about its decision to take equity in a solar company bidding to supply solar power in the ore-rich Pilbara.
Page 19: The banking royal commission has probed AMP and the big four banks for hundreds of thousands of documents, board minutes and fee and return structures as it prepares to grill executives over misconduct in the $2.6 trillion superannuation sector. Investors are bracing for rocky money markets as rising trade tension between the US, China and Europe risks turning into a currency war between the economic giants, threatening to hurt global growth.
Page 21: Borrowers holding up to $240 billion in mortgage debt have been hit with higher interest rates, as banks push through rate rises on owner-occupiers and investors.
The West Australian
Page 1: Amid warnings the Turnbull Government was making the same mistake as the Howard government by spending a temporary revenue bump on expensive personal income tax cuts, Deloitte Access Economics said the outlook for WA was definitely brightening. Page 6: Grants made through a scheme to help needy households struggling to pay power and water bills have plunged more than 95 per cent after the State Government cracked down on suspected dodgy claims.
Page 11: WA’s environment watchdog has urged the State Government not to walk away from long-running efforts to overhaul Perth’s planning laws, warning it would be disastrous for the city’s ecology.
Business: Live exporter Wellard has vowed it will not be bullied by animal activists after being threatened with legal action should it help Emanuel Exports ship tens of thousands of sheep stranded in a Baldivis feedlot.
WA soccer is using a spike in visits by international teams led by English Premier League powerhouse Chelsea to support its push for a $30 million-plus new home for the code.
