Morning Headlines

Wednesday, 8 August, 2018 - 06:48

Low appetite for office builds

Mr Pinkerton, speaking at the Property Council WA’s mid-year office market review where there was broad agreement that relatively low prime-grade supply in the short term was fertile ground for modest rent gains, said decisions to build depended on a range of factors. The West

Super hit: banks face $850m bill

The compensation that the banks are preparing to pay for fees they charged customers for services never provided is racing towards $1 billion, as the financial services royal commission yesterday exposed new details of fee gouging. The Aus

PM hits reset on China

Malcolm Turnbull has moved to reset the troubled relationship with China by recognising Beijing’s desire to assert itself in the region, and lauding the ‘‘vital’’ contribution to regional stability that will come from the 125,000 Chinese students in Australia. The Fin      

Subbies ‘will be paid’ for bridge work

The financial woes of a company working on the new stadium footbridge have prompted the State Government to guarantee that subcontractors will not be out of pocket. The West

Aged care assets a drawcard

CBRE’s new Retirement & Healthcare research shows private hospitals offered returns of more than 25 per cent in 2017, outperforming office, retail and industrial. The West

WA unis offer discounts after overseas slump

Universities in Western Australia have been forced to offer international students steep tuition fee discounts branded as “scholarships” and other inducements in an attempt to offset an alarming slump in enrolments. The Aus

Northbridge strip a heritage gem

The Metropolitan Redevelopment Authority is selling the last suite of award-winning heritage buildings on William Street that form part of its now completed $6 million Perth Cultural Centre revitalisation project. The West

More Centrelink call-centre jobs in Perth

Human Services Minister Michael Keenan says the Federal Government will create more than 600 jobs in a new Centrelink call centre in West Perth to help ease frustration for pensioners and welfare recipients faced with busy signals and long wait times when contacting the under-pressure agency. The West

Strong enrolments lift Navitas as market shrugs off full-year loss

Shares in education services provider Navitas rose firmly yesterday as investors eyed solid full-year enrolment growth and brushed off its swing to a full-year loss. The Aus           

 

 

The Australian Financial Review

Page 1: Malcolm Turnbull has moved to reset the troubled relationship with China by recognising Beijing’s desire to assert itself in the region, and lauding the ‘‘vital’’ contribution to regional stability that will come from the 125,000 Chinese students in Australia.

ASIC opted to take a softer approach to NAB after being lobbied by the bank over systemic overcharging of superannuation customers, the Hayne royal commission has heard.

Australian Securities and Investments Commission chairman James Shipton plans to embed teams of up to 20 agents for weeks at a time to sit with bank staff, drop into meetings and trail the CEO, executives and directors to identify misconduct before it arises.

Page 3: The federal government is prepared to compromise on how often or early the emissions reduction target associated with the National Energy Guarantee is reviewed, but it will not budge on its insistence that the target be enshrined by legislation, rather than regulation.

Page 4: The Turnbull government has rebuffed calls by Australian-Iranian business leaders to follow Europe’s lead and protect Australia’s growing trade with Iran after US President Donald Trump unilaterally reinstated economic sanctions against Tehran.

Page 10: NBN will begin deploying new technology to increase the capacity of its struggling hybrid fibre-coaxial (HFC) network, as it seeks to kickstart interest in the crucial element of the government’s multi-technology mix after it was abruptly halted last November.

The proposed private health insurance discounts for young people will benefit only rich young people and entrench a two-tiered system, say healthcare consumer bodies.

Page 16: Mid-market private equity firm Mercury Capital is set to puta $500 million valuation on Australian SMS-based marketing and communications company Message Media.

Page 17: Alinta Energy managing director Jeff Dimery expects the fast-growing retailer to continue adding 2000-2500 customers a day as it capitalises on customer dissatisfaction with soaring power bills and a breakdown of trust in energy suppliers.

Page 18: Fortescue chief executive Elizabeth Gaines said Fortescue stood by its view that the discounts were cyclical and that the widening price gap between high and low-grade product would eventually narrow.

 

The Australian                                                                                                                          

Page 1: The compensation that the banks are preparing to pay for fees they charged customers for services never provided is racing towards $1 billion, as the financial services royal commission yesterday exposed new details of fee gouging.                                                        

A surge in appeals by foreign students against unfavourable visa decisions has contributed to a massive backlog of more than 43,000 active cases swamping the Administrative Appeals Tribunal.

Page 4: Scott Morrison says the economy faces an “own goal” if the financial services royal commission causes a credit crunch, with his warning coming as the Reserve Bank governor highlighted “changed dynamics” in the increasingly fragile housing market.                                

Page 19: Wesfarmers will soon be sitting atop a war chest of more than $3.5 billion following a spate of asset sales, including the planned demerger of Coles later this year, as chief executive Rob Scott accelerates his strategy to reshape the conglomerate’s portfolio.

Page 20: Shares in education services provider Navitas rose firmly yesterday as investors eyed solid full-year enrolment growth and brushed off its swing to a full-year loss.                           

Page 23: IOOF managing director Chris Kelaher has conceded a number of ANZ advisers did not move across to his wealth management group as was planned during a $1 billion takeover.                                                                                                                                                         

Page 30: Universities in Western Australia have been forced to offer international students steep tuition fee discounts branded as “scholarships” and other inducements in an attempt to offset an alarming slump in enrolments.

                                                                                                           

The West Australian

Page 9: Federal Agriculture Minister David Littleproud has urged export companies to step up to ship WA sheep amid growing doubts as to whether embattled company Emanuel Exports will be allowed to trade again.

Page 14: The financial woes of a company working on the new stadium footbridge have prompted the State Government to guarantee that subcontractors will not be out of pocket.

Page 15: Human Services Minister Michael Keenan says the Federal Government will create more than 600 jobs in a new Centrelink call centre in West Perth to help ease frustration for pensioners and welfare recipients faced with busy signals and long wait times when contacting the under-pressure agency.

Business: Gold Fields’ Perth-based Australasia boss Stuart Mathews says he can’t say with 100 per cent certainty that there won’t be another cost blowout on the $621 million Gruyere joint-venture gold project.

Metals X boss Warren Hallam has admitted the September quarter looms as crunch time for the company’s Nifty copper mine in the East Pilbara.

Property: Mr Pinkerton, speaking at the Property Council WA’s mid-year office market review where there was broad agreement that relatively low prime-grade supply in the short term was fertile ground for modest rent gains, said decisions to build depended on a range of factors.

The Metropolitan Redevelopment Authority is selling the last suite of award-winning heritage buildings on William Street that form part of its now completed $6 million Perth Cultural Centre revitalisation project.

CBRE’s new Retirement & Healthcare research shows private hospitals offered returns of more than 25 per cent in 2017, outperforming office, retail and industrial.

Plans to build a $70 million multigenerational lifestyle village at Beaumaris Beach, Iluka, progressed this week when Brightwater Care Group entered into a purchase contract for the high-profile site.