05/10/2018 - 06:58

Morning Headlines

05/10/2018 - 06:58

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Stoked US pushes rates up, $A down

Morning Headlines

Stoked US pushes rates up, $A down

Rising US interest rates fuelled by Donald Trump’s tax cuts stimulating the American economy could soon push the Australian dollar below US70¢ and gradually lift local inflation to help the Reserve Bank of Australia increase borrowing costs next year. The Fin

Alumina stocks soar on supply doubts

Local mining stocks have soared as the world’s largest alumina refinery shut down its production indefinitely, after running at a reduced capacity for the past seven months. The Fin

Fresh legal challenge to casuals’ paid leave

WorkPac has filed a Federal Court application seeking declarations that a former employee, Robert Rossato, was a casual employee and not entitled to be paid leave entitlements. The Aus

Bond holders to take over gutted Quintis

The Federal Court has approved a deal handing control of stricken sandalwood investment group Quintis to bondholders led by global investment giant BlackRock. The Aus

MMA Offshore back in sights of distressed debt funds

Street Talk understands the marine services company, formerly known as Mermaid Marine Australia, is back in the sights of distressed debt investors, less than a year after it secured support from cornerstone backers for a $100 million recapitalisation. The Fin

Petrol prices head beyond $2 a litre

A falling Australian dollar and higher international oil prices could create a perfect storm to push petrol prices above $2 a litre, costing motorists and businesses hundreds of millions of dollars extra a year. The Fin

Macmahon lawsuit settled

Macmahon Holdings has denied breaching market disclosure rules after agreeing to pay a group of shareholders $6.7 million in relation to a construction project blowout. The West

 

 

The Australian Financial Review

Page 1: Rising US interest rates fuelled by Donald Trump’s tax cuts stimulating the American economy could soon push the Australian dollar below US70¢ and gradually lift local inflation to help the Reserve Bank of Australia increase borrowing costs next year.

Page 3: Inspector-General of Taxation Ali Noroozi has urged the federal government to impose an independent supervisory board to hold Australian Taxation Office Commissioner Chris Jordan to account because too much power is concentrated in his hands, in a biting farewell speech.

Page 4: The Australian Greens will seek union support to try to torpedo the Senate vote ratifying the Trans-Pacific Partnership, while Bill Shorten says Labor would reluctantly vote for the deal but fix its flaws if elected.

Ten thousand early education students studying at TAFE will have their upfront fees scrapped under a new proposal to be announced on Friday by Labor leader Bill Shorten as it ramps up its efforts to lead the policy debate.

Page 5: The federal government’s plans to slug expatriates millions in capital gains tax changes will impose an unfair death burden for Australians who die overseas and their relatives.

Page 8: Commonwealth Bank’s clunky systems have been delivered another blow after the banking royal commission blamed them for product that misled farmers.

Page 9: New class actions set to hit the mining industry over casual entitlements will require lawyers first make a 250 per cent return on their costs before claimants see any money.

Page 10: A falling Australian dollar and higher international oil prices could create a perfect storm to push petrol prices above $2 a litre, costing motorists and businesses hundreds of millions of dollars extra a year.

Page 11: A new federal government authority will manage the uptake of driverless vehicles, which is expected to be worth $16 billion to the economy by 2025.

Page 15: Magellan Financial Group co-founder Hamish Douglass is stepping down as chief executive to focus on stockpicking as the $74.5 billion funds management giant’s share price soared 8 per cent to an all-time high.

Page 16: Street Talk understands the marine services company, formerly known as Mermaid Marine Australia, is back in the sights of distressed debt investors, less than a year after it secured support from cornerstone backers for a $100 million recapitalisation.

Page 17: Woolworths has handed the bulk of its multimillion-dollar sales data sharing and research services to the retailer’s 50 per cent-owned analytics firm Quantium, ending a 15-year partnership with market leader IRi.

Page 20: Local mining stocks have soared as the world’s largest alumina refinery shut down its production indefinitely, after running at a reduced capacity for the past seven months.

 

 

The Australian                                                                                                                          

Page 1: More than $25 million in taxpayer-funded Great Barrier Reef contracts were handed to companies linked to a prominent Liberal National Party donor and his wife while she served on the board of the government agency controlling the funds.

Page 2: WorkPac has filed a Federal Court application seeking declarations that a former employee, Robert Rossato, was a casual employee and not entitled to be paid leave entitlements.

Page 4: Bill Shorten has outflanked the Coalition on preschool access for young children, announcing a $10 billion, 10-year plan to subsidise universal access for all three and four-year-olds that would make it free for many families.

The ABC board has confirmed it launched an independent investigation into problems that former managing director Michelle Guthrie raised with it on the same day it decided to sack her.

Page 21: Coca-Cola Amatil chief executive Alison Watkins is eager to tap into new beverage markets with combined sales of more than $500 million a year after joining with US-based The Coca-Cola Company to take a 45 per cent stake in Made Group.

The Federal Court has approved a deal handing control of stricken sandalwood investment group Quintis to bondholders led by global investment giant BlackRock.

Page 25: Property heavyweight Dexus is close to taking another major step into healthcare property as the listed real estate investment trust finalises a deal to take a stake in specialist funds manager Heathley.

Convenience retail landlord SCA Property Group has raised $262.4 million from institutional shareholders towards its purchase of a portfolio of assets from Vicinity Centres.

 

 

The West Australian

Page 1: WA’s medical profession is in shock after three anaesthetists received serious spinal or other injuries in separate cycling accidents over nine days.

Page 4: Finance Minister Mathias Cormann has sought to escalate the political pressure on Federal Labor, demanding its WA MPs back all of Scott Morrison’s plan to overhaul the GST carve-up.

Native title rights for a big area of land and water in the Kimberley have been recognised, two decades after the claim was lodged.

Page 5: A second so-called “summit” — which charges WA Government departments thousands of dollars for public servants to hear their colleagues speak about the digital era — is facing scrutiny from the Premier and Police Commissioner.

Page 13: Tougher penalties for workplace safety offences have come into effect in WA as part of moves to modernise outdated laws.

Page 14: Under big health fund changes, more than 100,000 people needing surgery on bones, joints, ligaments, tendons and muscles will have to pay more for insurance cover or be pushed into the overstretched public system.

Business: Home loan borrowers could fork out almost half their monthly income in mortgage repayments if interest rates rise 2 percentage points, according to a new analysis.

China’s biggest food company says Australia’s ability to remain a top trade partner will rely heavily on whether it sell a “clean, green image” to Gen Y consumers.

The cash-strapped McGowan Government has ruled out buying two stunning gold specimens recovered from the Beta Hunt mine near Kambalda despite calls for them to be retained as part of WA’s mining heritage.

Macmahon Holdings has denied breaching market disclosure rules after agreeing to pay a group of shareholders $6.7 million in relation to a construction project blowout.

Production has resumed at the Kalgoorlie Nickel Smelter, 10 days after a fire ripped through its furnace room that caused the evacuation of the BHP plant.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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