13/11/2018 - 06:51

Morning Headlines

13/11/2018 - 06:51

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Frydenberg doubles limit on staff shares

Morning Headlines

Frydenberg doubles limit on staff shares

The federal government has bowed to lobbying from small business startups, especially in the technology sector, and will double the employee share scheme limit to $10,000 a year per worker. The Fin

Treasury’s housing pitch: don’t loosen lending rules

Treasury mandarins have warned against derailing a regulatory crackdown on loose lending in the $1.6 trillion housing market, arguing tighter standards are strengthening the financial system after years of irresponsible lending. The Aus

IGO joins Paterson copper chase

Independence Group has joined Rio Tinto, Fortescue Metals Group and a group of explorers in taking an interest in copper-cobalt prospects in the East Pilbara. The West

PM cool on Jakarta trade deal

Scott Morrison has confirmed plans to sign the free trade agreement with Indonesia this week have been shelved and he said there was now ‘‘no burning timetable’’ to get it done. The Fin

Encryption laws threaten $3b net security industry

New powers for spy agencies to snoop on phones and electronic communications threaten to scare off local investment in cybersecurity research and development and could force some tech companies to shift overseas, a leading encryption software company claims. The Fin

Work starts on $3.8bn Belmont Park precinct

Long-held ambitions to transform the ageing Belmont Park racecourse into a high-rise precinct are set to become reality with work on the $3.8 billion development to start today. The West

Woolies to return $1.7b to shareholders

Woolworths is expected to return $1.7 billion from the sale of its fuel retailing business through an offmarket share buy-back to minimise earnings dilution and maximise the distribution of franking credits. The Fin

 

 

The Australian Financial Review

Page 1: Scott Morrison has confirmed plans to sign the free trade agreement with Indonesia this week have been shelved and he said there was now ‘‘no burning timetable’’ to get it done.

Private equity veterans Robin Bishop, Ben Gray and Simon Harle – who collectively make up the new firm BGH Capital – suffered a double blow yesterday when their two high-profile takeover offers were knocked back within the space of an hour.

The federal government has bowed to lobbying from small business startups, especially in the technology sector, and will double the employee share scheme limit to $10,000 a year per worker.

Page 3: Woolworths faces a shareholder resolution co-sponsored by industry superannuation fund LUCRF that would require union involvement in worker education and grievance resolution in response to alleged abuses by labour hire firms in the fruit and vegetable supply chain.

The gender pay gap has had its largest drop on record but benefits such as paid parental leave are stalling and may even be going backwards.

Page 6: A federal Labor government would establish an evaluator-general within Treasury to conduct trials of government programs to improve public policy and scrap initiatives that were failing to deliver good results.

Page 7: Big businesses and governments delaying payments to small business suppliers will be ‘‘named and shamed’’ after the Morrison government asked the small business ombudsman to review the impact of late payments on the cash flow of small firms.

Page 9: New powers for spy agencies to snoop on phones and electronic communications threaten to scare off local investment in cybersecurity research and development and could force some tech companies to shift overseas, a leading encryption software company claims.

Page 15: One of world’s most significant new lithium exporters says customers will largely fund a $231 million expansion of its Australian mine, highlighting the negligible role that mainstream banks have played in Australia’s most recent commodity boom.

Page 16: Woolworths is expected to return $1.7 billion from the sale of its fuel retailing business through an offmarket share buy-back to minimise earnings dilution and maximise the distribution of franking credits.

Page 18: RCR Tomlinson has gone into its second trading halt in three months after the engineering group warned it planned to make an announcement on its 2019 earnings outlook.

Page 31: Shares in Lendlease tumbled for a second day as broking houses issued downgrades in response to a surprise $350 million write-down announced by the global builder and developer last week.

Page 35: Private equity-backed logistics platform ESR is set to take over locally listed fund manager Propertylink in a $723.4 million deal after both sides struck a binding agreement on the buyout.

 

 

The Australian                                                                                                                          

Page 1: Voter support for Bill Shorten’s negative-gearing policy has dropped following a government campaign targeting Labor’s housing tax policies, with one third of Australians now opposed to the crackdown on investors.

Page 2: Treasury mandarins have warned against derailing a regulatory crackdown on loose lending in the $1.6 trillion housing market, arguing tighter standards are strengthening the financial system after years of irresponsible lending.

Page 17: Seven Group Holdings chief executive Ryan Stokes says the Australian government is justified in signalling it will block Hong Kong-listed CK Infrastructure’s $13 billion takeover bid for pipeline operator APA Group given the assets are critical infrastructure for the nation’s east coast gas network.

A growing number of US-based companies are delivering a sombre message about the stalled growth rate coming out of Australia’s housing construction and renovation sectors, naming Australia as a point of weakness for their global operations.

Page 20: Rio Tinto says there have been unprecedented capacity reductions in China due to supply-side reforms and pollution controls but it remains confident about demand from steelmakers for higher quality iron ore exports.

Page 25: As oil prices enter bear market territory and signs of oversupply loom, OPEC nations have signalled they would likely agree to production cuts when the cartel meets next month in Vienna.

 

 

The West Australian

Page 1: Voluntary euthanasia will be legal in WA by the end of next year if enough members of Parliament support new laws being crafted by a panel of 11 experts under the leadership of former governor Malcolm McCusker.

Page 3: WA’s biggest public health service has been run by executives who do not “trust or respect one another” and have been operating in a “culture of blame and limited accountability” that puts safety and quality at risk.

Page 9: Long-held ambitions to transform the ageing Belmont Park racecourse into a high-rise precinct are set to become reality with work on the $3.8 billion development to start today.

Page 16: Prime Minister Scott Morrison may overturn a $323,000 funding cut to the Foodbank charity amid warnings it may be unable to keep supplying hungry families hit by drought and other natural disasters.

Business: Independence Group has joined Rio Tinto, Fortescue Metals Group and a group of explorers in taking an interest in copper-cobalt prospects in the East Pilbara.

Pilbara Minerals is the latest WA miner increasing its commitment to meet lithium demand for batteries to support renewable energy and power electric vehicles with a $231 million expansion of its Pilgangoora lithium project.

About 200 shift workers at one of Rio Tinto’s Pilbara mines went on strike yesterday, claiming they were being robbed of nearly two hours’ pay each shift.

Elders shares have jumped more than 13 per cent after the agribusiness lifted full-year underlying profit 9.1 per cent to $63.7 million, shrugging off the worst of the east coast drought with a strong retail performance.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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