Morning Headlines

Wednesday, 29 August, 2018 - 06:54

Warrington in $170m William Square exit

Warrington Property with its partner Goldman Sachs is selling its relaunched six-level William Square Northbridge office for more than $170 million. The West

PM to seal trade deal with Jakarta

Prime Minister Scott Morrison will conclude a free trade agreement with Indonesia on Friday, in a deal designed to foster closer political ties with Jakarta ahead of greater market access and investment links. The Fin

Shorten vow on 75¢ GST floor for WA

Labor leader Bill Shorten will today promise to enshrine in law the shift to a 75¢ GST floor for WA. The West

Woolworths tipped to call time on ALH Group pubs

Woolworths is believed to be embarking on plans for a potential initial public offering or demerger of its share in the ALH Group pubs business, which could see a new hospitality company worth close to $3.5 billion return to the boards early next year. The Aus

Miners warn of graduate ‘crisis’

Mining industry alarm over plummeting enrolments at Australian universities is growing, with forecasts that demands for more flexible and lifestyle-focused careers could leave the nation’s universities producing just a quarter of the graduates needed. The Aus

$29m M/Group Quest deal

Quest Apartment Hotels has joined a flood of near-airport operators, striking a deal with M/Group to build a 112-key Quest at 266 Great Eastern Highway, Ascot. The West

EY revenue climbs 9.8pc to $1.8b

Revenue at big four accounting and consulting firm EY has grown by almost 10 per cent to $1.8 billion, helped by strong demand for ‘‘people advisory’’ services. The Fin

 

 

The Australian Financial Review

Page 1: Prime Minister Scott Morrison will conclude a free trade agreement with Indonesia on Friday, in a deal designed to foster closer political ties with Jakarta ahead of greater market access and investment links.

Page 2: Inequality has increased, whether measured by incomes or wealth, but Australia’s tax-and-transfer system eliminates much of this, a report from the Productivity Commission says.

Page 5: British-headquartered management consultant AON Hewitt has been caught up in the Hayne royal commission dragnet after admissions that 831 clients of its Australian financial advice arm were shovelled into high-fee super funds without their consent.

Page 6: The Coalition’s surrender to unions and Labor on the composition of superannuation fund boards comes as official figures show industry super funds have for the first time overtaken retail funds for total assets held.

Home Affairs Minister Peter Dutton is facing fresh claims he intervened to save a third au pair from being deported after Border Force officials cancelled her tourist visa on suspicion she intended to work in Australia.

Page 13: The Chinese government has ramped up criticism of Australia’s ban on telecommunications giant Huawei bidding for 5G mobile phone network contracts, accusing the Morrison government of ‘‘double standards’’ and discrimination against the country’s companies.

Page 14: Revenue at big four accounting and consulting firm EY has grown by almost 10 per cent to $1.8 billion, helped by strong demand for ‘‘people advisory’’ services.

Page 17: Australia’s biggest vitamins company Blackmores is expanding into the weight-loss sector with the acquisition of thepharmacy-only Impromy business to bolster flat Australian sales although its China operations are growing solidly and helped push its full-year net profit 19 per cent higher to $70 million.

Optical-fibre-to-the-home provider LBNCo will draw on new investors as it looks to capitalise on surging data consumption and chip away at the share of market giant NBN to become a formidable industry player.

Page 18: Commonwealth Bank has been told to end its ‘‘tick-a-box’’ approach to assessing eligibility for reverse mortgages and remove clauses the corporate regulator says ‘‘have the potential to be unfair’’.

Page 21: IT solutions provider Cirrus Networks delivered a full-year net profit after tax of $2.8 million, up from $0.4 million last year.

 

 

The Australian                                                                                                                          

Page 4: Resources Minister Matt Canavan will push LNG companies to lock in sufficient domestic gas supplies to 2020, kickstarting the government’s new energy policy agenda after the collapse of Malcolm Turnbull’s national energy guarantee.

Page 6: Almost one-third of Australians in poverty soon after the turn of the new millennium are still poor, or have slipped back into poverty, and it is this persistence of disadvantage that most concerns the Productivity Commission.

Page 19: Growth in self-managed super funds has stalled from the breakneck rates of recent years amid forecasts the sector is set to plateau as members face the prospect of tougher rules in setting up new accounts.

Mining industry alarm over plummeting enrolments at Australian universities is growing, with forecasts that demands for more flexible and lifestyle-focused careers could leave the nation’s universities producing just a quarter of the graduates needed.

Page 20: Woolworths is believed to be embarking on plans for a potential initial public offering or demerger of its share in the ALH Group pubs business, which could see a new hospitality company worth close to $3.5 billion return to the boards early next year.

Page 21: Shares in artificial intelligence outfit Appen climbed more than 6 per cent after the tech darling lifted its revenue by 106 per cent year-on-year.

 

 

The West Australian

Page 1: Labor leader Bill Shorten will today promise to enshrine in law the shift to a 75¢ GST floor for WA.

Page 10: Revelations that the department’s director-general David Russell-Weisz approved a new five-year contract for corrupt colleague John Fullerton have prompted the State Government to call in the Public Sector Commissioner.

Business: Norway’s petroleum minister has warned WA it needs to strike an accord between energy companies, government and the unions if the State is to maximise returns from the LNG sector’s production phase.

Shares in Regis Resources jumped 5 per cent after the gold miner unveiled a 26 per cent surge in full-year profit to a record $174 million.

A ramp-up in projects has contributed to engineering and construction company Civmec trebling net profit to $S25.5 million ($25.5 million).

Austin Engineering has closed an unprofitable workshop in Karratha along with one in the NSW Hunter Valley, saying it was part of a strategy to rationalise the company’s asset base and operations.

Ousted Tap Oil chairman Chris Newton has rejoined the board after suitor Risco Energy Investments’ stake in the Thai-focused explorer topped 30 per cent.

Property: Warrington Property with its partner Goldman Sachs is selling its relaunched six-level William Square Northbridge office for more than $170 million.

Blackburne Property Group has struck a deal with IGA to be the ground-level gourmet grocer at the base of its Essence tower at Claremont on the Park.

Quest Apartment Hotels has joined a flood of near-airport operators, striking a deal with M/Group to build a 112-key Quest at 266 Great Eastern Highway, Ascot.