24/07/2018 - 06:45

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24/07/2018 - 06:45

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Morrison backs WTO overhaul

Morrison backs WTO overhaul

Australia has backed growing calls for a revamp of global trade rules to defuse an escalating tariff war between the United States and Europe and China, with Treasurer Scott Morrison calling for a broader review ‘‘of how the system has failed’’. The Fin

Wesfarmers keeps Walmart option

Wesfarmers has not ruled out eventually selling its 15 per cent stake in Coles and has defended its decision to demerge, rather than sell or float the $20 billion food and liquor retailer. The Fin       

Top funds and regulators in the firing line

Australia’s biggest for-profit superannuation manager, AMP, and the nation’s largest fund, AustralianSuper, have been called up to face a grilling at the banking royal commission, as managers of the country’s $2.6 trillion pool of retirement savings face the most forensic examination of their conduct in two decades. The Aus

NAB to stop slugging drought-hit farmers

National Australia Bank will stop charging drought-ravaged farmers penalty interest rates and allow farmers to reduce interest bills by using funds held in the government’s farm management deposits scheme to offset their loan amounts. The Fin                                                                                                        

BT’s fee cut shocks super rivals

The wealth management industry’s days of easy money from unsuspecting customers are numbered, after Westpac arm BT Financial became the first to buckle by drastically cutting back fees on its superannuation platforms. The Aus              

Second runway ‘crucial for economy’                                    

The State’s peak industry and tourism bodies have thrown their support behind construction of a second parallel runway at Perth Airport saying it will boost WA’s economy. The West

ATO rules shake-up targets ‘rubber stamp’ absent directors

Foreign directors who ‘‘rubber stamp’’ documents could trigger Australian tax residency, and the accompanying ‘‘significant tax bills’’, under changes to decade-old tax laws. The Fin

Creasy firm seeks lease near Nova

A junior explorer backed by Mark Creasy has ratcheted up speculation he is on the verge of a new discovery in the Fraser Range, after the legendary prospector applied for a new mining lease north-east of the Nova nickel mine. The West

Perth picks up slowly as Elmo secures office deal

Perth office leasing activity continues its recovery after Elmo Software signed a three-year lease over a fifth-floor office at 167 St Georges Terrace in the Perth CBD. The Fin

 

 

The Australian Financial Review

Page 1:  Australia has backed growing calls for a revamp of global trade rules to defuse an escalating tariff war between the United States and Europe and China, with Treasurer Scott Morrison calling for a broader review ‘‘of how the system has failed’’.

National Australia Bank will stop charging drought-ravaged farmers penalty interest rates and allow farmers to reduce interest bills by using funds held in the government’s farm management deposits scheme to offset their loan amounts.

Page 4: A narrow win in the Longman byelection may not be enough to help Bill Shorten silence doubters over his leadership, with concerns a result that holds the line will not translate into gains in other Queensland marginal seats crucial to Labor winning government.

Page 5: Foreign directors who ‘‘rubber stamp’’ documents could trigger Australian tax residency, and the accompanying ‘‘significant tax bills’’, under changes to decade-old tax laws.

Page 6: Five more small and medium-sized lenders have buckled to rising funding costs, pressure on profits and dividends by raising rates by up to 20 basis points, increasing pressure on other lenders to follow.

Page 13: Wesfarmers has not ruled out eventually selling its 15 per cent stake in Coles and has defended its decision to demerge, rather than sell or float the $20 billion food and liquor retailer.

Investors in AGL Energy and Origin Energy are right to be worried about the prospects for their electricity retailing businesses, according to competition tsar Rod Sims, who is leading the regulator’s crackdown on the way the big three players treat their most loyal – and profitable – customers.

Page 15: Changing dynamics in the iron ore market will ensure Fortescue Metals becomes ‘‘the next Atlas’’, according to the outspoken boss of US miner Cliffs, putting him at odds with analysts who believe Fortescue will report earnings in excess of $US1 billion for years to come.

Australia’s entire agricultural supply chain is feeling the heat from extremely dry conditions affecting crop and livestock production, according to Nufarm chief executive Greg Hunt.

Page 16: Mortgage brokers say the additional costs created by the industry are more than offset by the competitive tension they inject into the home loan market, as they look to defend their turf against multiple critics.

Page 25: Australian Ethical increased funds under management (FUM) by 6 per cent to $2.82 billion in the quarter ended June 30, up from $2.66 billion.

Page 33: Frasers Property Australia is developing about $700 million worth of new shopping centres in Australia at a time when shopping centres are facing unprecedented cyclical and structural challenges.

Page 34: Perth office leasing activity continues its recovery after Elmo Software signed a three-year lease over a fifth-floor office at 167 St Georges Terrace in the Perth CBD.

 

 

The Australian                                                                                                                          

Page 1: The nation’s infrastructure tsar has warned that population growth will cripple Australia’s capital cities and consign them to a future of congestion unless federal and state governments radically improve the way they plan and deliver major road and rail projects.

Page 5: The final design of Malcolm Turnbull’s proposed national energy guarantee has been delivered to the states and territories as the negotiations over the contentious policy enter their final phase.                                                                                                                              

Page 17: Australia’s biggest for-profit superannuation manager, AMP, and the nation’s largest fund, AustralianSuper, have been called up to face a grilling at the banking royal commission, as managers of the country’s $2.6 trillion pool of retirement savings face the most forensic examination of their conduct in two decades.                                                                 

The wealth management industry’s days of easy money from unsuspecting customers are numbered, after Westpac arm BT Financial became the first to buckle by drastically cutting back fees on its superannuation platforms.                                                                                           

Page 19: Healthy eating chain Sumo Salad Group will be put on the block by administrators Ferrier Hodgson, which quietly took over the bulk of its 85-store network last week.

 


The West Australian

Page 4: The State’s peak industry and tourism bodies have thrown their support behind construction of a second parallel runway at Perth Airport saying it will boost WA’s economy.

Education chief Sharyn O’Neill will become the most senior public servant in WA when she takes over as public sector commissioner next week.

Page 9: Australian broadband providers could face fines of up to $10 million if they leave customers without working internet connections for more than six days under new rules unveiled by the Australian Communications and Media Authority yesterday.

Business: Nickel miner Western Areas is hopeful its new Odysseus development in the northern Goldfields will have the scale to prosper through the cycle, after Australia’s only pure-play nickel miner again made production guidance from its Forrestania mines.

Vocus Group’s effort to bolster internet capacity between Perth and Singapore via a $US170 million ($230 million) subsea cable has almost reached the Lion City.

The Sandalwood Growers Cooperative, backed by former Quintis boss Mr Wilson, said growers in the 2003 managed investment scheme had backed its strategy by voting for Huntley Management to replace Quintis as the responsible entity of the northern WA project.

A junior explorer backed by Mark Creasy has ratcheted up speculation he is on the verge of a new discovery in the Fraser Range, after the legendary prospector applied for a new mining lease north-east of the Nova nickel mine.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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