11/09/2018 - 06:55

Morning Headlines

11/09/2018 - 06:55

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PM’s future hinges on female bid

Morning Headlines

PM’s future hinges on female bid

Scott Morrison faces losing his parliamentary majority unless the Liberals choose a female candidate for the Wentworth byelection, according to private polling showing the government’s primary vote has crashed to 39 per cent in the blue-ribbon seat vacated by Malcolm Turnbull. The Aus

Life insurers’ $6bn fee grab in crosshairs

The financial services royal commission has put more than $6 billion worth of commissions in the crosshairs as Kenneth Hayne’s inquiry uncovers pushy sales tactics in the scandal-ridden life insurance industry. The Aus

NAB holds rates steady in bid to ‘build trust’

National Australia Bank chief executive Andrew Thorburn has moved to counter criticism from the Productivity Commission that existing customers of the big banks are missing out on discounts enjoyed by new home loan borrowers by breaking ranks with his rivals and keeping mortgage rates steady. The Fin

Pilbara port output record

The Pilbara Ports Authority (PPA) achieved record 24-hour throughput of 2.478 million tonnes across August 23-23, a 79,796-tonne increase on the previous 24-hour record set in June. The Fin

Gold find lures RNC mine buyers

The owner of a Kambalda gold mine that produced an astonishing 9250-ounce haul of gold specimens worth $15 million from a single cut of quartz rock underground has restarted its sale after being inundated with interest in the discovery. The West

Live sheep export ban in limbo after vote

Legislation to phase out Australia’s live sheep export industry passed the Senate on Monday, but despite widespread cross-party support will likely never reach a vote in the lower house. The Fin

Trump’s trade war driving $A lower, petrol higher

The Australian dollar is becoming collateral damage in Donald Trump’s trade war with China, dropping to its lowest level in almost three years with analysts warning it may slip below US70c. The Aus

 

 

The Australian Financial Review

Page 1: Labor will take the National Energy Guarantee, or something similar, to the next election as business and industry clamoured for stable market rules and new data showed power prices had jumped since the NEG was scrapped.

Insurer and wealth manager Clear-View has admitted more than 300,000 breaches of anti-hawking laws and selling lower-quality life insurance policies to poor people on the first day of insurance hearings at the Hayne royal commission, which looks poised to demolish the reputation of the insurance sector.

Page 3: The explosion of mortgage debt has made Australian households, banks and the economy more vulnerable to a downturn, but with a robust economy and falling unemployment the Reserve Bank remains confident that there are no immediate reasons for alarm.

Page 4: Technology giants Facebook, Amazon, Google and Twitter say the government’s planned new cyber security laws would leave Australians vulnerable to cyber-attacks and be detrimental for public security and the economy.

Page 7: A complete review of Australia’s tax administration is needed by 2022, part of efforts to simplify the rules, boost public engagement and improve compliance.

Legislation to phase out Australia’s live sheep export industry passed the Senate on Monday, but despite widespread cross-party support will likely never reach a vote in the lower house.

Page 15: National Australia Bank chief executive Andrew Thorburn has moved to counter criticism from the Productivity Commission that existing customers of the big banks are missing out on discounts enjoyed by new home loan borrowers by breaking ranks with his rivals and keeping mortgage rates steady.

Telstra has ramped up plans to roll out 5G network infrastructure more than a year before consumers will have new generation devices capable of using the faster technology, but the telco giant’s rivals have rubbished claims this will give it an edge in the hyper-competitive mobile market.

Page 16: Street Talk understands private equity-owned Nexus Day Hospitals, which is the second-largest day hospital operator in the country with 10 facilities, is being prepared for sale and ASX-listed Ramsay shapes as one of the parties likely to be interested.

Page 18: Listed stockbroking and advisory house Evans Dixon has acquired Fort Street Advisers for $53.9 million in cash and shares, a move that restarts consolidation in the boutique advisory sector.

Page 20: The Pilbara Ports Authority (PPA) achieved record 24-hour throughput of 2.478 million tonnes across August 23-23, a 79,796-tonne increase on the previous 24-hour record set in June.

CIMIC Group’s global mining services subsidiary Thiess has won a 24-month contract for work at the Leinster underground mine in Western Australia under a contract with BHP Nickel West.

Mineral Resources, which is backed by Rich Lister Chris Ellison, has taken a $2 million placement in cobalt hopeful Barra Resources.

 

 

The Australian                                                                                                                          

Page 1: Scott Morrison faces losing his parliamentary majority unless the Liberals choose a female candidate for the Wentworth byelection, according to private polling showing the government’s primary vote has crashed to 39 per cent in the blue-ribbon seat vacated by Malcolm Turnbull.

The union Bill Shorten led and used as the springboard for his political career has lost half its members in the past five years.

Page 2: The Australian dollar is becoming collateral damage in Donald Trump’s trade war with China, dropping to its lowest level in almost three years with analysts warning it may slip below US70c.

Page 4: The Nationals are threatening to run against the Liberal Party in the NSW Senate race at the next federal election amid concerns they will lose an upper house seat, exposing growing turmoil within the Coalition.

Page 6: A new health agency will be established with the power to block the use of overseas-trained doctors as the federal government seeks more direct and immediate control over workforce distribution.

Page 17: The financial services royal commission has put more than $6 billion worth of commissions in the crosshairs as Kenneth Hayne’s inquiry uncovers pushy sales tactics in the scandal-ridden life insurance industry.

 

 

The West Australian

Page 3: A giant desalination plant in Perth’s northern suburbs is in the mix to be the city’s next major drinking water source, with the Water Corporation set to undertake preparatory works.

Business: The owner of a Kambalda gold mine that produced an astonishing 9250-ounce haul of gold specimens worth $15 million from a single cut of quartz rock underground has restarted its sale after being inundated with interest in the discovery.

Navitas founder Rod Jones has corralled a group of shareholders of technology company Spookfish to squeeze an extra $15 million out of US suitor EagleView Technologies.

WA’s dairy industry has thrown its support behind a mandatory code of practice, which aims to level the playing field between Australian farmers and processors.

Bullseye Mining has followed an unwanted takeover offer, finance from a director’s father to be repaid in gold and disgruntled shareholders wanting to unseat the board with a $15 million deal with a contracting company.

Alibaba is heralding the end of the Jack Ma era.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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