ABC chair in firing line
ABC chair in firing line
ABC chairman Justin Milne’s plan to ride out pressure to resign will be challenged by duelling inquiries conducted by the Morrison government and the Senate into whether the former Telstra and Ozemail executive subjected the national broadcaster to political interference. The Fin
Crackdown on phoenix tactics
Fraudsters who take advantage of Australia’s outdated business register to steal billions of dollars each year will be targeted in a Federal crackdown on “phoenixing” practices over the next six months. The West
Rents under pump as annual sales worth $2b shift online
Leading retailers like Premier Investments are threatening an avalanche of store closures unless landlords reduce rents as $2 billion a year in sales – equivalent to the annual turnover at Chadstone, Australia’s largest shopping mall – shift from bricks and mortar to online. The Fin
Political turmoil to hit $13bn takeover
APA Group chief Mick McCormack says Malcolm Turnbull’s ousting is expected to delay a government decision on the Hong Kong-owned CK Infrastructure’s $13 billion takeover of his gas pipeline company, with the Coalition not wanting to give Labor a political target before the Wentworth byelection next month and the federal election. The Aus
WACA revenue up but ground value hit for six
The heads of cricket in WA have moved to assure WACA members the association’s finances are in good health despite a $15 million drop in the value of the East Perth ground. The West
Aussie miners hit by China coal curbs
China has introduced unofficial restrictions on coal imports in a bid to prop up domestic prices by slowing down customs approvals at key ports, in a move that threatens to disrupt a year of stronger-than-expected Chinese demand for Australian thermal coal. The Fin
Plastic bags and toys boost Coles’ sales
Coles’ Little Shop promotion and backflip over plastic bags delivered a sugar hit in the September quarter – lifting profits by 6 per cent and sales by as much as 7 per cent – but the rush is unlikely to be sustained. The Fin
The Australian Financial Review
Page 1: ABC chairman Justin Milne’s plan to ride out pressure to resign will be challenged by duelling inquiries conducted by the Morrison government and the Senate into whether the former Telstra and Ozemail executive subjected the national broadcaster to political interference.
Page 2: An international university ranking company claims there are signs of stagnation in Australian higher education, with many universities ‘‘losing ground and reputation faced with funding cuts and intensified global competition’’.
Page 3: The former chief executive of Sirtex Medical, Gilman Wong, is facing a possible jail sentence after being charged with one count of insider trading.
Page 4: The federal government’s revenue surge and push towards a budget surplus is extremely reliant on China continuing to deftly manage its slowing economy and risky financial system.
Page 5: Federal Labor says it will bank revenue windfalls to help insulate the economy against global shocks as it pledges to deliver a better budget outlook should it beat the Coalition at the next election.
Page 8: The federal government has dumped plans for a new farm labour visa to fill a huge gap in the rural workforce.
Page 17: China has introduced unofficial restrictions on coal imports in a bid to prop up domestic prices by slowing down customs approvals at key ports, in a move that threatens to disrupt a year of stronger-than-expected Chinese demand for Australian thermal coal.
Leading retailers like Premier Investments are threatening an avalanche of store closures unless landlords reduce rents as $2 billion a year in sales – equivalent to the annual turnover at Chadstone, Australia’s largest shopping mall – shift from bricks and mortar to online.
Page 20: Coles’ Little Shop promotion and backflip over plastic bags delivered a sugar hit in the September quarter – lifting profits by 6 per cent and sales by as much as 7 per cent – but the rush is unlikely to be sustained.
Page 21: Scottish Pacific, the small business lender that is the subject of a $630 million private equity bid, was a key financier of a labour hire firm with strong links to companies and individuals allegedly involved in the $130 million Plutus tax role fraud.
Page 22: Sheffield Resources has been granted the mining lease for its Thunderbird mineral sands project by Western Australia’s Department of Mines, Industry, Regulation and Safety.
Page 36: Morgan Stanley has cautioned investors about the narrowing advantage Australia’s real estate investment trusts have over the 10-year bond yield, saying it is better to stick to selective stock picking and not bet on the broader property index.
The Australian
Page 1: APA Group chief Mick McCormack says Malcolm Turnbull’s ousting is expected to delay a government decision on the Hong Kong-owned CK Infrastructure’s $13 billion takeover of his gas pipeline company, with the Coalition not wanting to give Labor a political target before the Wentworth byelection next month and the federal election.
Page 2: Scott Morrison will use the government’s improved budget position to cut taxes for both individuals and small business, seeking to sharpen the Coalition’s contrast with Labor.
Page 3: The death of a four-year-old boy during a family holiday at an Airbnb property in rural Queensland has shone a spotlight on the perils of letting properties as a business without extra commercial insurance.
Page 5: The agency in charge of the National Disability Insurance Scheme has spent at least $150,000 on an internal marketing drive to come up with a set of “values” for the organisation, boost morale and teach staff how to answer the phone.
Page 17: The business models of some insurance companies would be put to the sword under policy changes proposed by the financial services royal commission.
Insurance giant QBE has suffered another sudden executive departure, with chief risk officer of the Australian & New Zealand division Mark Baxter packing his bags after less than two years in the role.
Page 19: Telstra may have to rethink its capital management strategy and borrow more money if it is serious about maintaining its 22c-a -share dividend in the long term, according to Citi analysts.
Page 20: The Australian listed $2.2 billion agrichemicals giant Nufarm has posted a $15.6 million full-year loss for 2017-18, blaming the slump on the severe drought in eastern Australia.
The West Australian
Page 10: The State Government is poised to bring the Budget back into black at least a year early after figures showed a surge in revenue and tight control over spending has put the State’s books in their best position since 2014.
Page 18: Strawberry farmers will share in $350,000 to tell consumers their fruit is safe and to help find ways to make packaging much tougher to crack.
Business: The heads of cricket in WA have moved to assure WACA members the association’s finances are in good health despite a $15 million drop in the value of the East Perth ground.
BHP could be back in production at the Kalgoorlie Nickel Smelter within three weeks after a fire that forced the facility to shut down on Sunday, with the company saying its furnace was not damaged in the blaze.
Fraudsters who take advantage of Australia’s outdated business register to steal billions of dollars each year will be targeted in a Federal crackdown on “phoenixing” practices over the next six months.
