18/09/2018 - 06:52

Morning Headlines

18/09/2018 - 06:52

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Aged care stocks take a battering

Morning Headlines

Aged care stocks take a battering

The four largest listed aged care stocks were heavily sold off yesterday as investors fled on the news of the royal commission and the likely adverse fallout for the sector. The Fin

Exit not so horrible for NAB’s $20m man Hagger

NAB’s head of wealth Andrew Hagger will exit with redundancy payout of up to $796,000, as the highest-profile casualty so far of the banking royal commission. The Aus

Perth Mint data breach affected thousands

The Perth Mint has revealed that thousands more customers were affected by a data breach this month than initially reported. The West

Executives pay the price for Bunnings loss

Senior Wesfarmers executives have paid the price for Bunnings’ failed foray into the UK and Ireland, underperformance at Target and weaker earnings at Coles, forgoing $17 million of rewards in 2018. The Fin

Strawberry supplies scanned

A major strawberry supplier has taken the desperate measure of scanning for metal contaminants, hoping it can save the State's industry from being wiped out as the needle sabotage crisis spreads to WA. The West

Ships cruise back in to ports

Carnival Australia president Sture Myrmell this week confirmed his company would be returning to WA, with its super ocean liner Sea Princess based in Fremantle at the end of next year. The West

Wage rises outpacing living costs

Wages have far outstripped increased living costs over the past decade, rising 31 per cent against a 22 per cent lift in inflation, delivering real gains in living standards. The Aus

AMP billed dead people for life cover

AMP staff knew the company was charging thousands of dead customers life insurance premiums for at least three years, the Hayne royal commission has heard. The Fin

 

 

The Australian Financial Review

Page 1: Energy Minister Angus Taylor has slammed greenhouse gas reduction policies as ‘‘corporate greed dressed up as saving the planet’’ while a key ratings agency warned the government created vacuum in energy policy was putting reliable energy supply at risk by delaying investments in on-demand generation.

The four largest listed aged care stocks were heavily sold off yesterday as investors fled on the news of the royal commission and the likely adverse fallout for the sector.

Page 3: Australians may be irked by the nanny state we have created but, according to the federal government’s data science agency, these small annoyances are a $15 billion export opportunity.

Page 4: Scott Morrison has ordered the Liberal Party to establish a confidential and rigorous complaints process to help attract quality candidates, after marginal seat holder Ann Sudmalis said she would not contest the next election.

Page 5: A $1.2 billion budget funding ‘‘cut’’ that Labor has seized on to attack the Morrison government’s sincerity over the royal commission into aged care was enacted to stop nursing home operators fleecing taxpayers.

Page 7: The cost to taxpayers of Parliament’s constitutional eligibility crisis has hit $14.5 million and will likely top $24 million, new figures reveal.

Page 8: AMP staff knew the company was charging thousands of dead customers life insurance premiums for at least three years, the Hayne royal commission has heard.

Page 10: There are calls to increase fines and jail time to crack down on misuse of the Australian Business Number system as part of efforts to stop dodgy practices and criminal activity.

Page 11: Shares in Hong Kong finished lower, and China’s main Shanghai Composite index fell to its lowest close in nearly four years on Monday as reports said US President Donald Trump would unveil new tariffs on $US200 billion of imported Chinese goods this week.

Page 15: Senior Wesfarmers executives have paid the price for Bunnings’ failed foray into the UK and Ireland, underperformance at Target and weaker earnings at Coles, forgoing $17 million of rewards in 2018.

Page 17: Westpac announced a new round of residential lending policy changes for existing borrowers on Monday as it prepares to become the first of the majors to lift standard variable rates.

Page 23: Westpac is aiming to cement itself as a global leader in blockchain technology, developing one of the world’s first proof-of-concepts that digitises inventory management, procurement and trade.

Deloitte is continuing to bulk up its technology clout, acquiring speech analytics business KnowledgeSpace, as it predicts a fresh wave of demand for technology-driven compliance solutions following the banking royal commission.

Page 29: Pilbara Minerals is on track for its first shipment of spodumene concentrate from its Pilgangoora lithium-tantalum project this month after strong progress with its production ramp-up.

Page 40: The Agency has finally come up with the minimum $10 million to acquire Top Level Real Estate, the east coast business founded by ex-McGrath agents that trades under its name.

 

 

The Australian                                                                                                                          

Page 1: Liberal Party heavyweight Scott Briggs — a close friend and political ally of Scott Morrison and a former professional colleague of new Immigration Minister David Coleman — is driving a bid to win a visa-processing contract understood to be valued at up to $1 billion.

Wages have far outstripped increased living costs over the past decade, rising 31 per cent against a 22 per cent lift in inflation, delivering real gains in living standards.

Page 2: The 30 per cent boost to the Newstart unemployment benefit being sought by the peak welfare group would cost the budget $3.3 billion a year, but almost two-thirds of this would eventually be recouped from increased tax revenue elsewhere in the economy, modelling by Deloitte Access Economics shows.

Page 17: Allianz has misled consumers, the corporate regulator and possibly even the financial services royal commission over travel insurance disclosures on its website, Kenneth Hayne’s inquiry was told yesterday.

NAB’s head of wealth Andrew Hagger will exit with redundancy payout of up to $796,000, as the highest-profile casualty so far of the banking royal commission.

Page 18: Fast-food chain Mad Mex Fresh Mexican Grill has been put on the market through Allunga Advisory as businesses operating under the franchise model fight to gain more scale.

Page 20: Uncertainty around what will come next in terms of energy policy is blocking “vital” investment into the sector, S&P Global Ratings says.

 

 

The West Australian

Page 1:  A major strawberry supplier has taken the desperate measure of scanning for metal contaminants, hoping it can save the State's industry from being wiped out as the needle sabotage crisis spreads to WA.

Page 11: An East Perth park maligned by its neighbours as a place for antisocial behaviour and which hosted WA’s first Australian Rules game may be getting a long-awaited makeover.

Page 14: Carnival Australia president Sture Myrmell this week confirmed his company would be returning to WA, with its super ocean liner Sea Princess based in Fremantle at the end of next year.

Business: The Perth Mint has revealed that thousands more customers were affected by a data breach this month than initially reported.

Chief executive Richard Hayes yesterday said personal details of about 3200 depository online customers were stolen, not the 13 reported by the Mint on September 8.

The live sheep export industry has been dealt a further blow with Australia’s biggest customer, Kuwait Livestock Transport and Trading, moving to source a long-term supply of sheep from South Africa.

Victoria’s biggest energy supplier AGL risks losing its licence to sell power in the State after the energy regulator issued a warning over the company’s failure to provide performance data.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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