03/01/2019 - 06:39

Morning Headlines

03/01/2019 - 06:39

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Perth house price slide to ease in 2019

Morning Headlines

Perth house price slide to ease in 2019

The West Australian economy and in particular the mining sector will hold the key to any improvement in the Perth housing market in 2019, after another sharp fall in values over the past 12 months. The Fin

Pilbara set to seal Chinese funding

Pilbara will announce today that Chinese electric car maker Great Wall, Chinese lithium heavyweight Ganfeng, Korean giant Posco and Pilbara’s existing bondholders had combined to bankroll the $231 million stage two expansion of Pilgangoora. The Aus

China ruins ASX’s new year cheer

Weak Chinese factory output data sent the Australian sharemarket to a loss of 1.6 per cent on the first day of 2019 trading and the Australian dollar to almost a three-year low. The Fin

Woolworths sells $15m WA mall

Supermarket giant Woolworths has sold a Geraldton mall in regional Western Australia to acquisitive fund manager MPG for $14.8 million. The Fin

South West $1 billion boom set to power up

Work on WA’s latest $1 billion lithium plant will start within days as US resources giant Albemarle begins building a major processing facility outside Bunbury, creating hundreds of jobs in the South West. The West

Rio moves to defer bonus for ex-CEO

Mining giant Rio Tinto has asked former chief executive Sam Walsh to extend a deferral of his final multi-million-dollar bonus. The Aus

Banks turn off the investor tap

The latest Australian Prudential Regulation Authority banking statistics, released yesterday, showed negligible growth across the major banks’ investor loan portfolios as at November 30. The Aus

Labor fishing for cash

Fishermen are reeling from backlash over moves to nationalise a massive chunk of the crayfish industry — and now the McGowan Government is coming after the pearl industry, too. The West

 

 

The Australian Financial Review

Page 1: The corporate regulator’s overhauled leadership team is vowing to get tougher on business misconduct and take greater risks going to court as part of a new, litigate-first strategy, newly appointed regulator Sean Hughes warns.

Weak Chinese factory output data sent the Australian sharemarket to a loss of 1.6 per cent on the first day of 2019 trading and the Australian dollar to almost a three-year low.

Page 3: A former Cbus employee who was convicted of giving false and misleading evidence oversaw a sponsorship program that showered the union movement with up to $2 million a year without any formal procedures, according to a report by KPMG.

Page 4: AMP is attempting to bury any chance of charging dead customers fees and premiums with new ‘‘hotlines’’ and specialist advice services for brokers, lawyers, family members and friends.

Nationals’ Deputy Leader Bridget McKenzie has opted out of the preselection race to replace disgraced Mallee MP Andrew Broad.

Page 5: A Labor Party plan to impose additional tax on the superannuation of those earning more than $200,000 has been backed by independent researchers, who also say there is a ‘‘strong case’’ to lower the threshold even further to $180,000.

Overseas sovereign wealth funds, public entities and government controlled businesses are now banned from making political donations in Australia, the result of new laws that came into force this week.

Page 7: The ACCC has suffered a second defeat in its battle with Medibank over claims the insurer did not fully inform its customers over the end to some ‘‘no gap’’ services.

Page 13: Quadrant Private Equity executive chairman Chris Hadley has warned about private equity funds overpaying for assets, as they seek to deploy the biggest pool of capital in almost a decade.

Australian households probably have too much debt but it will become a problem only if interest rates rise and unemployment increases, top economists agree, channelling their concerns into the risks to consumption growth in the year ahead.

Page 14: Costco Wholesale Australia nearly doubled its profits during the past financial year due to an additional warehouse generating more sales and better operational leverage, according to fresh accounts lodged with the corporate regulator.

Page 16: The first quarterly survey of economists in 2019 by The Australian Financial Review shows that trade tensions between the US and China, cyber security concerns, OPEC’s output discipline and a slowdown in Australian tourism are on economists’ radars as potential threats to stability and growth.

Page 30: The West Australian economy and in particular the mining sector will hold the key to any improvement in the Perth housing market in 2019, after another sharp fall in values over the past 12 months.

Supermarket giant Woolworths has sold a Geraldton mall in regional Western Australia to acquisitive fund manager MPG for $14.8 million.

 

 

The Australian                                                                                                                          

Page 1: Josh Frydenberg has called on the banks to reignite “affordable and timely” lending after new figures revealed national house prices suffered their worst year since the global financial crisis.

Page 2: Barnaby Joyce and Vikki Campion charged taxpayers more than $6000 to travel to a pro-live sheep export forum in Western Australia, where organisers were split over whether the former deputy prime minister should attend.

Page 13: The latest Australian Prudential Regulation Authority banking statistics, released yesterday, showed negligible growth across the major banks’ investor loan portfolios as at November 30.

Page 14: Troubled sports betting group PlayUp, which was once financially backed by Malcolm Turnbull and his family, has failed to make a $2 million payment to listed gambling group Betmakers Holdings.

Page 15: Mining giant Rio Tinto has asked former chief executive Sam Walsh to extend a deferral of his final multi-million-dollar bonus.

Pilbara will announce today that Chinese electric car maker Great Wall, Chinese lithium heavyweight Ganfeng, Korean giant Posco and Pilbara’s existing bondholders had combined to bankroll the $231 million stage two expansion of Pilgangoora.

 

 

 

The West Australian

Page 1: Fishermen are reeling from backlash over moves to nationalise a massive chunk of the crayfish industry — and now the McGowan Government is coming after the pearl industry, too.

Page 3: Work on WA’s latest $1 billion lithium plant will start within days as US resources giant Albemarle begins building a major processing facility outside Bunbury, creating hundreds of jobs in the South West.

Page 16: The WA Labor MP scrutinised for not disclosing his connection to Chinese Communist Party-linked bodies has launched legal action against a Perth-based pro-unification of China group that listed his name on its website as an “executive member”.

Business: Westpork is set to expand its stranglehold on the piggery industry after agreeing to buy the collapsed GD Pork’s farms in Kojonup and West Pinjarra.

Concerns about the future of the auto industry wiped more than $180 billion off the value of the world’s biggest listed car makers last year.

AusQuest shares tumbled yesterday after the Perth-based explorer announced it was abandoning two projects in WA.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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