Morning Headlines

Friday, 31 August, 2018 - 06:53

Capex darkens RBA’s rosy outlook for the economy

The Reserve Bank’s upbeat economic outlook appears at risk after a surprise drop in both business investment and a fall in residential building approvals. The Fin

Rate rise ‘threat to economy’

As figures show sharp increases in the number of West Australians falling behind on their mortgages, there are warnings the interest rate increase by Westpac — and those expected to follow from the Commonwealth, NAB and ANZ — could do major economic damage, especially in WA. The West

ASIC launches broadside at cold-calling insurance firms

The nation’s under-fire life and funeral insurers are bracing for more enforcement action by the corporate regulator, as it looks to stop sales cold calling and potentially draw on new intervention powers to ban accidental death cover. The Fin

Dutton’s help for second au pair

Home Affairs Minister Peter Dutton intervened to allow the entry into Australia of a female au pair who was detained after arriving on a tourist visa in June 2015, after a request was lodged by a former Queensland Police colleague. The Aus

MacTiernan calls on industry to embrace hydrogen export

Regional Development Minister Alannah MacTiernan has called on industry to embrace the potential for hydrogen production to be the “next big thing” in the State’s business landscape. The West

Telcos gain $8bn on TPG/Vodafone merger

TPG Telecom’s $15 billion merger with Vodafone Hutchison Australia has added more than $7.9bn in value to Australian listed telecommunications companies since news of the deal first emerged just over a week ago. The Aus

Galaxy reports profit

Lithium miner Galaxy Resources has posted a first-half profit of $US11.5 million ($15.8 million), up from a loss of $US5 million. The West

 

 

The Australian Financial Review

Page 1: The Reserve Bank’s upbeat economic outlook appears at risk after a surprise drop in both business investment and a fall in residential building approvals.

Page 3: Some childcare centre operators have resorted to giving away free iPads or offering to pay a family’s grocery bills for a week as enticements to bring in new customers as they battle against an oversupply of childcare places following a rapid acceleration in new entrants into the sector chasing a slice of the taxpayer subsidies expected to reach an annual $9.5 billion by 2022.

Page 4: Prime Minister Scott Morrison has reaffirmed Australia’s commitment to the Paris climate change targets but effectively exempted the nation’s single largest emitter, the energy sector, from having to make a contribution.

Page 5: Cabinet minister Michaelia Cash has become the latest target of the payback culture inside the Liberal Party, after allegations emerged that she declined to provide a witness statement to the Australian Federal Police investigating the leaking of a union raid from within her office.

Page 7: Westpac’s decision to hike its variable interest rates will probably delay any increase in the official cash rate, especially because the other banks are expected to follow suit, economists said.

Page 17: Ramsay Health Care chief executive Craig McNally insists he can return the private hospital operator to higher growth even as investors worry that his strategy cannot overcome consumers dropping private health cover as a result of rising premiums and soaring out-of-pocket costs.

The nation’s under-fire life and funeral insurers are bracing for more enforcement action by the corporate regulator, as it looks to stop sales cold calling and potentially draw on new intervention powers to ban accidental death cover.

Page 19: Senior executives from Santos, Origin Energy and Shell are set to be summoned to a meeting with federal Resources Minister Matt Canavan within two weeks, ahead of a critical decision on potential curbs on LNG exports next year.

Page 22: Myer’s new chief executive John King has taken the knife to the retailer’s head office, cutting 30 executive and senior management roles this week in a bid to reduce costs and strengthen connections with customers.

Page 28: Gold miner Doray Minerals reported a net loss after tax of $14.7 million , up from a loss of $74.2 million.

Page 34: Building approvals fell a more-than-expected 5.2 per cent in July as strengthening demand for townhouse projects failed to offset a drop in highrise apartments.

 

 

The Australian                                                                                                                          

Page 1: Cricket Australia’s board has been ensnared in a feud after an outgoing director attacked chairman David Peever in an email, labelling his performance “substandard” and alleging issues critical to the game’s future were mishandled.

Page 4: Generators and big energy users say Scott Morrison’s move to decouple carbon emissions cuts from energy policy has dealt a blow to investor certainty, threatening his overriding goal of bringing down power prices.

Page 5: Home Affairs Minister Peter Dutton intervened to allow the entry into Australia of a female au pair who was detained after arriving on a tourist visa in June 2015, after a request was lodged by a former Queensland Police colleague.

Page 6: Criminals and dodgy operators have ramped up attacks on disabled people using the $22 billion National Disability Insurance Scheme with recent complaints involving ‘‘tens of thousands of dollars’’ being siphoned from participant support packages.

Page 17: Australian biscuit brand Arnott’s has been put up for sale by its US-owner Campbell Soup as part of plans to offload its international operations and refrigerated-foods business.

Page 18: TPG Telecom’s $15 billion merger with Vodafone Hutchison Australia has added more than $7.9bn in value to Australian listed telecommunications companies since news of the deal first emerged just over a week ago.

 

 

The West Australian

Page 1: As figures show sharp increases in the number of West Australians falling behind on their mortgages, there are warnings the interest rate increase by Westpac — and those expected to follow from the Commonwealth, NAB and ANZ — could do major economic damage, especially in WA.

Page 9: IVF treatment will become more affordable for many WA couples with Perth’s first bulk-billing fertility clinic to open today.

Business: Regional Development Minister Alannah MacTiernan has called on industry to embrace the potential for hydrogen production to be the “next big thing” in the State’s business landscape.

Lithium miner Galaxy Resources has posted a first-half profit of $US11.5 million ($15.8 million), up from a loss of $US5 million.

Surveying firm Veris reported a $1.3 million annual loss, despite revenue rising 45 per cent to $107 million.

Engineering company Clough had an annual operating profit of 209 million rand ($20 million), down 4 per cent, according to South African parent Murray & Roberts.

AusGroup almost trebled annual profit to $13.5 million in what the resources contractor called a transformational year.

Myer has fired back at key rival David Jones, signing an exclusive agreement with beauty products maker Aesop.