New builds in WA hit 30-year low
New builds in WA hit 30-year low
The extent of WA’s struggling housing market has been underlined by figures revealing the number of new homes being built has fallen to its lowest level since records started more than three decades ago. The West
Perth tipped to top house price growth
After a free fall in prices over the past four years, house values in Perth are expected to grow faster than any other Australian capital city in 2019, according to real estate group Domain. The Fin
Tokyo flights set for lift off
WA’s struggling tourism sector could get a $300 million boost with the State Government set to secure a deal with a major Japanese airline for direct flights between Perth and Tokyo. The West
Ambitious Elanor on year end spending spree
The listed Elanor Investors Group is finishing the year in a burst of fresh property buying with the group targeting the purchase of a Sydney shopping centre and a Perth office building in deals worth about $180 million. The Aus
Ramelius pulls Explaurum cash sweetener
Ramelius Resources’ takeover tilt at Explaurum appears doomed after the bidder yesterday decided against proceeding with an increased cash sweetener flagged two weeks ago. The West
ANZ compo for millions of accounts
ANZ will have to pay compensation for two million accounts held by customers who have been ripped off by the bank, chief executive Shayne Elliott has told the financial services royal commission. The Aus
Neilson’s $100m journalism jab
Philanthropist and art gallery owner Judith Neilson is spending $100 million to set up a journalism institute in Sydney. The Fin
The Australian Financial Review
Page 1: Scott Morrison is battling to reassert his authority after another day of chaos, with Labor accusing him of running a ‘‘part-time parliament’’, Julie Bishop fuelling suspicions she has leadership ambitions and growing calls for Peter Dutton to refer himself to the High Court.
Outgoing Industry Super Australia chairman Peter Collins has challenged a future Shorten government to embrace privatisation so the nation’s ballooning superannuation stash can be recycled into new infrastructure, as funds fret about running out of good investment opportunities.
Page 2: Philanthropist and art gallery owner Judith Neilson is spending $100 million to set up a journalism institute in Sydney.
Page 3: The militant construction arm of the CFMEU has been given the OK to enter the textile manufacturing industry after the workplace tribunal found the union’s post-amalgamation rules allowed for it.
Page 4: The Morrison government will launch an independent review of the vocational education and training (VET) sector to ensure people are graduating with skills that match the needs of business in the modern economy.
Page 5: The federal government has passed laws to preserve the $2 billion fund set up by Paul Keating in response to the 1992 Mabo decision, a change that could make Indigenous Australians better off by $1.5 billion over 20 years.
Page 8: ANZ chief executive Shayne Elliott has rejected a push for more transparency around banker pay, arguing that publishing more details about bonuses would amount to little more than ‘‘ritualistic shaming’’ and he did not want to instil a ‘‘culture of fear’’ at the bank.
Page 13:Industry super funds are leading a revolt against the hefty bonuses paid to senior banking executives over the last year, with momentum building for the remuneration reports of Westpac, National Australia Bank and ANZ Banking Group to be voted down at their upcoming annual meetings.
IVP, which has big investments in Twitter and Slack, has made its first Aussie investment, ploughing $111 million into local workforce management software company Deputy in one of the country’s largest venture capital raises on record.
Page 15: RCR Tomlinson’s creditors have been asked to submit proof of debts to the company’s administrators by Friday ahead of the first creditors’ meeting next week as a second class action firm said it was considering potential claims on behalf of the engineering group’s investors.
Page 19: Building products group CSR has ended a disastrous foray into glass manufacturing in Australia that cost shareholders more than $1 billion in the past 10 years by agreeing to sell its Viridian Glass business to private equity firm Crescent Capital Partners for $155 million.
Page 30: After a free fall in prices over the past four years, house values in Perth are expected to grow faster than any other Australian capital city in 2019, according to real estate group Domain.
The Australian
Page 1: Malcolm Turnbull has been in regular contact with Kerryn Phelps and one of his staff members helped the independent MP, who played a key role in counselling Julia Banks before her shock defection from the Liberal Party.
Scott Morrison will use his pre-election budget war chest to deliver extra funding for schools, hospitals and pharmaceutical benefits, in a move to claim back political leverage from Labor ahead of delivering the nation’s first surplus in a decade.
Page 4: Scott Morrison will hold meetings with British Prime Minister Theresa May at this week’s critical G20 meeting in Argentina to ensure trade negotiations with both Britain and the EU remain on track amid uncertainty surrounding the proposed new Brexit deal.
Page 17: ANZ will have to pay compensation for two million accounts held by customers who have been ripped off by the bank, chief executive Shayne Elliott has told the financial services royal commission.
The corporate watchdog is considering an intervention into Australia’s “buy now, pay later” industry, after a review found Australians had racked up nearly $1 billion in debt to services like Afterpay and zipPay.
Page 19: Qantas stands to gain $170 million from the plunge in fuel prices this financial year, taking significant pressure off the airline’s bottom line.
Page 23: The listed Elanor Investors Group is finishing the year in a burst of fresh property buying with the group targeting the purchase of a Sydney shopping centre and a Perth office building in deals worth about $180 million.
The West Australian
Page 1: WA’s struggling tourism sector could get a $300 million boost with the State Government set to secure a deal with a major Japanese airline for direct flights between Perth and Tokyo.
Page 3: The extent of WA’s struggling housing market has been underlined by figures revealing the number of new homes being built has fallen to its lowest level since records started more than three decades ago.
Page 14: The South West and Great Southern housing market is outperforming Perth and the rest of the State as homebuyers look for value around Margaret River and Albany.
Business: The Federal Government plans to rein in the Australian Taxation Office’s aggressive approach to dealing with small businesses by making it easier and cheaper to take disputes to an independent reviewer.
A decision on Fortescue’s proposed Iron Bridge magnetite project has been pushed back to the new year.
Growing national power provider Alinta Energy has predicted a planned mega wind farm in WA will “perfectly” complement the utility’s fleet and allow it to aggressively compete in the local market.
Ramelius Resources’ takeover tilt at Explaurum appears doomed after the bidder yesterday decided against proceeding with an increased cash sweetener flagged two weeks
