Morning Headlines

Tuesday, 16 October, 2018 - 06:54
Category: 

Labor retreats on trade

The free trade agreement between Australia and Indonesia is in peril after Labor said it would not ratify the deal, or any other FTA in the pipeline, unless provisions allowing the importation of foreign workers and the ability of foreign governments to sue, were stripped out. The Fin

Investors with multiple properties targeted in lending crackdown

AMP, the nation’s largest financial conglomerate, is axing new mortgages to property investors with five or more properties, the latest lender to crack down on borrowers with multiple dwellings. The Fin

Lendlease plans for Perth tower

Lendlease has lodged plans for its first commercial tower at the $1.3 billion Waterbank urban regeneration project on the edge of the Perth CBD, next to the Swan River. The Fin

Coles fuel department under the pump

New Coles managing director Steven Cain says he is willing to exit the $35 billion retail fuel market at the right price to end a deal that has saddled the retailer with Australia’s highest petrol prices and led to a one-third slump in sales volumes over the past two years. The Fin

Dacian bullish over discovery

Dacian Gold has restated its confidence in the emerging Cameron Well discovery at its Mt Morgans gold mine near Laverton, pledging $14 million to drilling out what it hopes will be a third mining centre at the northern Goldfields project. The West

Aust Post in threat over ANZ punters

Thousands of ANZ customers who use Australia Post’s banking service are at risk of being cut off from the service unless the bank agrees to pay millions in fees, Australia Post has warned. The Fin

PM open to embassy in Jerusalem

Scott Morrison has signalled a potential relocation of Australia’s embassy in Tel Aviv to Jerusalem in line with a decision by US President Donald Trump earlier this year to formally recognise the city as the legitimate capital of Israel. The Aus

 

 

The Australian Financial Review

Page 1: The free trade agreement between Australia and Indonesia is in peril after Labor said it would not ratify the deal, or any other FTA in the pipeline, unless provisions allowing the importation of foreign workers and the ability of foreign governments to sue, were stripped out.

New Coles managing director Steven Cain says he is willing to exit the $35 billion retail fuel market at the right price to end a deal that has saddled the retailer with Australia’s highest petrol prices and led to a one-third slump in sales volumes over the past two years.

A return of savage selling for the market’s technology stocks has hit the highflying sector and caused the value of Afterpay shares to fall more than 30 per cent, and Wisetech and Altium more than 20 per cent, from their August highs.

Page 3: Major performing arts companies would receive government funding not in perpetuity but under contracts reviewed every four years, a consultation paper from Mitch Fifield’s Department of Communication and the Arts has suggested.

Page 9: Australia’s burgeoning arms trade with Saudi Arabia could be curtailed amid growing international condemnation over the suspected murder of journalist Jamal Khashoggi.

Page 11: First home buyers have withdrawn more than $5 million from their superannuation under a federal government scheme designed to make housing more affordable.

Page 15: Coles is shifting its focus from price to convenience as food prices start rising for the first time in 10 years and higher costs threaten to dent margins in the retailer’s first year as a stand-alone listed company.

Thousands of ANZ customers who use Australia Post’s banking service are at risk of being cut off from the service unless the bank agrees to pay millions in fees, Australia Post has warned.

The value of Australian exchange-traded products has overtaken the value of listed investment companies for the first time and the market could double the size of its more established cousin within three years if growth continues.

Page 17: The world’s biggest infant formula maker, Nestle, is launching its own brand of A2-only baby formula in Australia and New Zealand as it looks to muscle in on the dominant position of high-growth stock, The a2 Milk Company.

Page 19: AMP, the nation’s largest financial conglomerate, is axing new mortgages to property investors with five or more properties, the latest lender to crack down on borrowers with multiple dwellings.

Page 35: US private equity giant Blackstone has four days to match a near-$3.4 billion takeover bid for Investa Office Fund by its rival Canada’s Oxford Properties Group or give up the chase.

Page 36: Lendlease has lodged plans for its first commercial tower at the $1.3 billion Waterbank urban regeneration project on the edge of the Perth CBD, next to the Swan River.

Page 41: Sirona Capital spin-off Harvis Corp has established its new headquarters at level 9, 190 St Georges Terrace in the Perth CBD after signing a five-year 140 sq m office lease.

 

 

The Australian                                                                                                                          

Page 1: Scott Morrison has signalled a potential relocation of Australia’s embassy in Tel Aviv to Jerusalem in line with a decision by US President Donald Trump earlier this year to formally recognise the city as the legitimate capital of Israel.

Labor is examining giving unions and workers the right to strike in support of industrywide pay claims but the Fair Work Commission could be given greater powers to suspend industrial action against multiple employers.

Page 4: Deputy Prime Minister Michael McCormack has been “walked all over” by Scott Morrison after the Prime Minister refused to back a Nationals plan to introduce a special visa for farm workers, according to colleagues.

Page 17: The crackdown by major banks on lending to property developers and investors is hitting major residential towers in city centres and land subdivisions on the outskirts of major capitals, with house prices tipped to slide by a further 10 per cent.

Page 18: One of Virgin Australia’s major shareholders, the embattled Chinese group HNA, is trying to sell its 19.8 per cent stake in the airline to cut its losses on the investment.

 

 

The West Australian

Page 14: Prime Minister Scott Morrison is refusing to budge on ending discrimination against gay teachers in religious schools amid concerns of a damaging split within the coalition over the issue.

Parliament House in Canberra was last night treated to the best WA has to offer as the State kicked off its latest event in the nation’s capital to showcase local produce and tourism.

Fears are growing in the Liberal Party that the Federal Government may be plunged into a hung Parliament as it struggles to hold the seat vacated by former prime minister Malcolm Turnbull.

Business: Dacian Gold has restated its confidence in the emerging Cameron Well discovery at its Mt Morgans gold mine near Laverton, pledging $14 million to drilling out what it hopes will be a third mining centre at the northern Goldfields project.

Sears has filed for Chapter 11 bankruptcy protection, buckling under its massive debt load and staggering losses.

The WA Nationals will go back to the drawing board in an effort to make their proposed increase to the levy on iron ore exports more palatable to miners and political rivals.

Construction of a new Wellard livestock vessel has come to a halt after Croatian shipbuilder Uljanik cancelled its contract with the sheep and cattle exporter.

Two Perth-based overseas oil explorers suffered yesterday from government problems in Africa and dry wells in the US.