Morning Headlines

Monday, 13 August, 2018 - 06:51

Turkish lira fall set to rattle ASX

Fears of contagion risk set off by the plunge in the Turkish lira look set to overshadow the start of the biggest week of Australian company results this earnings season. The Fin

RBA tips lithium, copper export boom

Australian miners are set to boost exports of copper and lithium to cash in on demand for electric vehicles and renewable energy generation while iron ore producers face a mixed outlook on Chinese steel demand, according to the Reserve Bank. The Aus

Showdown on energy as PM slides

Malcolm Turnbull’s popularity has plunged, and the Coalition’s primary vote has softened, as the Prime Minister and Energy Minister Josh Frydenberg prepare for a high-stakes showdown with rebel MPs tomorrow over the national energy guarantee. The Fin

Hagger to face questions over NAB fees

NAB wealth chief Andrew Hagger is likely to face questions about why the bank disclosed a fee-for-no-service compensation bill of $16 million when senior executives knew the real amount was more than twice that. The Fin

Win for casual workers looking for job security

Employers have failed in their bid to impose new restrictions on the right of casual workers to request permanent or part-time status. The Aus

Council’s $1.7m Auzcorp claim

The Town of Port Hedland is claiming $1.74 million from a Pilbara property and accommodation group sent under by the mining downturn owing tens of millions of dollars to banks, suppliers and subsidiaries. The West

Defence giants issue investment threat

Key US defence companies that supply the Australian military have warned they could pull future investment in the country due to the Turnbull government’s crackdown on foreigners having access to domestic technology research. The Aus

 

 

The Australian Financial Review

Page 1: The Turnbull government is fast-tracking a policy to potentially underwrite a new coal-fired power station as it seeks to win the support of wavering conservative MPs for the National Energy Guarantee at Tuesday’s Coalition party room meeting.

Talks between EquipSuper and a fellow industry fund, the $7 billion Energy Super, broke down after a disagreement over how the new board would be constituted, the Hayne royal commission heard on Friday.

Fears of contagion risk set off by the plunge in the Turkish lira look set to overshadow the start of the biggest week of Australian company results this earnings season.

Page 4: The federal government is vowing to put its company tax cuts to a Senate vote next week and then make a quick decision over whether to junk whatever elements of the policy it cannot get through, or take them to the next election.

Page 5: The recipient of a controversial $443 million grant to help protect the Great Barrier Reef has promised all federal MPs full transparency on how the money is spent.

Australian almond growers are hoping to cash in on Donald Trump’s trade war after China imposed a 25 per cent tariff on American almonds, which account for 80 per cent of the global market.

Page 6: NAB wealth chief Andrew Hagger is likely to face questions about why the bank disclosed a fee-for-no-service compensation bill of $16 million when senior executives knew the real amount was more than twice that.

Page 13: Private equity firms are seeking to exploit a greater willingness by directors to cut deals, a shift that will put further pressure on the ASX already feeling the brunt of takeovers for listed companies hitting their third highest level since 1995.

Page 17: Oil Search and its partners in two LNG projects in Papua New Guinea are thought to be targeting a commitment to move into engineering work in November as they work through conditions proposed by the government, including domestic gas obligations and open access to pipeline infrastructure.

Page 31: Construction of inner city apartments nationally has nearly halved over the past year as banks have tightened credit and developers held back from starting new projects, JLL’s latest Apartment Market report shows.

 

 

The Australian                                                                                                                          

Page 1: Malcolm Turnbull’s popularity has plunged, and the Coalition’s primary vote has softened, as the Prime Minister and Energy Minister Josh Frydenberg prepare for a high-stakes showdown with rebel MPs tomorrow over the national energy guarantee.                              

A majority of Labor voters has called on states and territories to open up gas development to drive down energy prices, with more than one in two Australians demanding that moratoriums on gas exploration be lifted.                                                                                           

Page 3: Key US defence companies that supply the Australian military have warned they could pull future investment in the country due to the Turnbull government’s crackdown on foreigners having access to domestic technology research.                                                               

NSW Primary Industries minister Niall Blair has warned the West Australian government not to leave it too late to accept help with drumline shark mitigation.                                                     

Page 4: A population policy that would include visa conditions on a specific number of new skilled migrants settling in cities other than Sydney or Melbourne is scheduled to be signed by cabinet as early as today.                                                                                                                 

Page 7: Employers have failed in their bid to impose new restrictions on the right of casual workers to request permanent or part-time status.                                                                           

Page 17: Australia has a “hell of a good opportunity ahead”, according to outgoing Rio Tinto chief financial officer Chris Lynch, who returns here next month to retire after five years in Britain.                                                                                                                                                    

Huawei is expected to face some restrictions in its bid to roll out a 5G mobile network in Australia, although a full ban of the Chinese telco equipment maker is unlikely when Canberra finalises its review of the operator at the end of this month.                                             

Page 18: Australia’s oil and gas sector appears to be ramping up for initial public offerings, with speculation mounting that both Rio Tinto and BHP Billiton could be eager to spin off assets for a float.                                                                                                                                          

Page 19: More than $500 million of shares could hit the stockmarket in the next few months as escrow periods lapse on a host of floats freeing up founders and management to pursue the sale of their company stakes.                                                                                                     

Australian miners are set to boost exports of copper and lithium to cash in on demand for electric vehicles and renewable energy generation while iron ore producers face a mixed outlook on Chinese steel demand, according to the Reserve Bank.

 

The West Australian

Page 6: State Liberal Party leader Mike Nahan has used his annual speech to the party faithful to dismiss the mainstream media as irrelevant and announce that he will withdraw funding to an anti-bullying program in WA schools.

Page 9: Top leadership of the Australian Defence Force has come under fire for failing to support their special forces amid calls for a police investigation into breaches of Commonwealth law.

Page 13: WA small and medium-sized businesses have made a last ditch plea to the Federal Government to drive through its company tax cuts, saying they are even more important to their survival than a stronger economy.

Page 16: Online accommodation service Airbnb says it is not responsible for the bleak conditions faced by tourist businesses in Margaret River.

Business: The Town of Port Hedland is claiming $1.74 million from a Pilbara property and accommodation group sent under by the mining downturn owing tens of millions of dollars to banks, suppliers and subsidiaries.

The State Government and Curtin University have joined forces to set up a $1.6 million innovation centre.