26/07/2018 - 06:41

Morning Headlines

26/07/2018 - 06:41

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ATO clamps down on company car use

Morning Headlines

ATO clamps down on company car use

Employers could be set for a ‘‘rude awakening’’ on company cars being used for private travel, with increased compliance checks expected after fringe benefit tax rule changes. The Fin

Iron ore heads for price crash: RBC

Iron ore is set for a second-half price crash to below $US50 a tonne as Chinese steel demand slows, wiping up to $US5 billion ($6.75bn) from the profits of the nation’s three biggest miners in coming years, according to RBC analysts who have downgraded Rio Tinto to underperform. The Aus      

NBN write-down inevitable, says S&P

In a damning assessment of the national broadband network, credit ratings agency S&P Global Ratings says a politically damaging government write-down is now ‘‘inevitable’’. The Fin

Coles steady, Woolworths peaking: UBS

After a mixed reaction to its $20 billion demerger plan, Coles has received encouraging news from UBS, which believes Coles is stabilising while Woolworths is peaking as sales growth accelerates across the broader food and grocery market. The Fin                                                                                                                    

South Flank jobs going offshore: AMWU

A union is ramping up its local content campaign against BHP, claiming the mining giant plans to send work and jobs offshore under the South Flank project. The West           

Australian spooks ‘spied’ on Rio during debt crisis

Australian intelligence agents were among those from six countries named as having access to Rio Tinto’s high-level communications during its 2008 debt crisis, when the mining giant was negotiating a bailout with one of China’s largest state-owned enterprises. The Fin

Mincor pours first gold

Kambalda nickel play Mincor Resources has reclaimed its status as a producer, this time as a gold miner, after pouring first bullion from its $2.2 million Widgiemooltha project in the Goldfields. The West

Super gouging convinces PC to revisit the sector

The Productivity Commission is overhauling its May bombshell report into superannuation and will publish a substantially improved version “hopefully by Christmas” given the extent of the revelations that have emerged regarding fee-gouging and resulting poor super fund performance. The Aus

 

 

The Australian Financial Review

Page 1:  Australian intelligence agents were among those from six countries named as having access to Rio Tinto’s high-level communications during its 2008 debt crisis, when the mining giant was negotiating a bailout with one of China’s largest state-owned enterprises.

Australia remains mired in a low inflation trap that shows little sign of abating, making it harder for the Reserve Bank to shift its record low interest rate setting even amid solid economic and job growth.

Page 5: Federal Labor claims the decision to hold a nine-week campaign for the super Saturday byelections has given it a fighting chance of holding the seats of Longman and Braddon because its internal research shows that it would have lost had the elections been held earlier.

Page 6: Nationals MPs have started to swing their support behind the National Energy Guarantee while Energy Minister Josh Frydenberg has offered a key concession in a bid to win the support of the Labor states and federal opposition.

Page 8: In a damning assessment of the national broadband network, credit ratings agency S&P Global Ratings says a politically damaging government write-down is now ‘‘inevitable’’.

Page 11: Employers could be set for a ‘‘rude awakening’’ on company cars being used for private travel, with increased compliance checks expected after fringe benefit tax rule changes.

Page 15: BHP’s head of Australian mining, Mike Henry, made a symbolic start on regaining ground on Wednesday when he turned the first shovel of dirt at the $US3.6 billion ($4.8 billion) project about 130 kilometres north-west of Newman in Western Australia.

Page 17: After a mixed reaction to its $20 billion demerger plan, Coles has received encouraging news from UBS, which believes Coles is stabilising while Woolworths is peaking as sales growth accelerates across the broader food and grocery market.

Page 18: An erosion of trust in banks driven by the royal commission is making customers wary about sharing data, which could slash the effectiveness of changes designed to lift competition.

Page 25: Altura Mining has produced the first batch of lithium concentrate from its Altura lithium project.

Page 37: The Clean Energy Finance Corporation has taken a cornerstone stake in a new $1 billion green infrastructure fund to invest in assets such as data centres, hospitals and seniors living.

 

 

The Australian                                                                                                                          

Page 1: Federal Labor has rejected Malcolm Turnbull’s national energy guarantee, declaring its “pathetic’’ emissions cuts will stifle renewable energy investment, threatening to extend a decade-long policy deadlock that has sent electricity prices soaring.                                           

Page 5: The head of the Australian Medical Association has received assurances from Health Minister Greg Hunt and officials that the My Health Record will not make it easier for police to obtain sensitive documents.                                                                                                                        

Page 6: The Productivity Commission is overhauling its May bombshell report into superannuation and will publish a substantially improved version “hopefully by Christmas” given the extent of the revelations that have emerged regarding fee-gouging and resulting poor super fund performance.                             

Page 18: CSR’s glass business Viridian is on the radar of international buyers who have approached the company with the aim of picking up a pressured asset.                                     

Page 20: Iron ore is set for a second-half price crash to below $US50 a tonne as Chinese steel demand slows, wiping up to $US5 billion ($6.75bn) from the profits of the nation’s three biggest miners in coming years, according to RBC analysts who have downgraded Rio Tinto to underperform.

 

 

The West Australian

Page 10: Perth Lord Mayor Lisa Scaffidi could resume her mayoral duties next year after being suspended for seven months over a long-running travel and gifts saga.

Page 12: An assessment of Perth’s declining public transport use has identified the need to make the city’s bus network more efficient, including introducing more bus-only and queue-jump lanes.

Business: A union is ramping up its local content campaign against BHP, claiming the mining giant plans to send work and jobs offshore under the South Flank project.

Australia’s peak small business lobby group claims owners have been bullied and threatened by superannuation funds for years.

Kambalda nickel play Mincor Resources has reclaimed its status as a producer, this time as a gold miner, after pouring first bullion from its $2.2 million Widgiemooltha project in the Goldfields.

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