11/02/2019 - 06:41

Morning Headlines

11/02/2019 - 06:41

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All eyes on Chinese iron ore buying as price flies

Morning Headlines

All eyes on Chinese iron ore buying as price flies

Iron ore will be the most closely watched commodity in the world this week when Chinese buyers return to the market after the Lunar New Year, days after the steel-making ingredient smashed through $US90 a tonne. The West

Bellevue keeps eyes on prize

One of the Australian gold plays most frequently touted as a potential acquisition target has quietly appointed defence advisers. The Aus

Boats battle: Labor eyes asylum deal

Scott Morrison faces the potential loss of two critical votes on the floor of parliament this week, with Bill Shorten considering support for a newly amended version of the medivac asylum-seeker bill before moving swiftly to force a vote on extending parliamentary sitting weeks in response to the banking royal commission. The Aus

China on track thanks to WA rail technology

When China wants to learn how to keep the biggest and fastest growing rail network in the world in tip-top shape, it turns to WA for expertise. The West

Samuel picks his APRA team

An independent review of the prudential regulator led by Graeme Samuel will work to ensure the Australian Prudential Regulation Authority can respond effectively to emerging financial stability risks at banks, insurers and superannuation funds, the Morrison government says. The Fin

New sub contract to be signed today

The first of Australia’s fleet of 12 new submarines could be battle ready by 2034, with the government set to sign a key contract with French contractor Naval Group today. The Aus

The $20m-a-month Manus mystery

The federal government awarded a $109 million contract extension to the firm providing security for refugees at Manus Island in Papua New Guinea, despite allegations of suspicious payments, lying during the tender process and deceptive conduct. The Fin

Major miners hit hustings with warning to Labor

Australia’s resources giants have started their biggest ad campaign since fighting off Kevin Rudd’s mining tax and fired a warning to unions that they expect federal Labor to resist any push for the return of industry-wide bargaining. The Aus

US-EU trade spat hits Australian beef

The Australian beef industry is at risk of becoming caught in the crossfire of the Trump administration’s trade spat with the European Union, putting at risk more than $100 million of annual exports. The Fin

Fremantle MP claims slow NBN

WA households are getting one of the worst National Broadband Network deals of any households in Australia, with one in five premises unlikely to receive fast broadband, according to the Federal Opposition. The West

 

The Australian Financial Review

P1: An independent review of the prudential regulator led by Graeme Samuel will work to ensure the Australian Prudential Regulation Authority can respond effectively to emerging financial stability risks at banks, insurers and superannuation funds, the Morrison government says.

P1: The federal government awarded a $109 million contract extension to the firm providing security for refugees at Manus Island in Papua New Guinea, despite allegations of suspicious payments, lying during the tender process and deceptive conduct.

P4: A compromise plan to end grandfathered conflicted remuneration payments six months ahead of the Coalition’s plans looks likely to win support from Labor in the Senate on Tuesday.

P5: NAB shareholder Simon Mawhinney of Allan Gray says the departures of CEO Andrew Thorburn and chairman Ken Henry are unlikely to change much at the bank as furious investors push for more changes.

P8: Construction companies will face additional liability for completed residential buildings that do not comply with building code requirements around cladding or other items under consumer protection reforms proposed by state and territory building ministers on Friday.

P9: The Australian beef industry is at risk of becoming caught in the crossfire of the Trump administration’s trade spat with the European Union, putting at risk more than $100 million of annual exports.

P13: Westpac Banking Corp chief executive Brian Hartzer says the Hayne commission’s insistence banks manage nonfinancial risks as prudently as they do financial ones will pose no problem for the bank.

P16: The insurance broking industry is confident it can persuade regulators there is nothing wrong with taking commissions from insurers, after the Hayne report recommended a three-year stay of execution for the industry’s favoured remuneration model.

P20: Markets are not giving enough weight to the likelihood of a hard Brexit, says Adrian Cooper, chief executive of Oxford Economics, who puts the chance of Britain crashing out of the European Union without a deal at more than 30 per cent.

P31: Scentre Group, the owner and manager of Westfield malls in Australia, does much better than its fellow retail landlords in generating returns from the investment it makes in developing and maintaining its $53 billion portfolio.

 

The Australian

P1: Scott Morrison faces the potential loss of two critical votes on the floor of parliament this week, with Bill Shorten considering support for a newly amended version of the medivac asylum-seeker bill before moving swiftly to force a vote on extending parliamentary sitting weeks in response to the banking royal commission.

P2: The first of Australia’s fleet of 12 new submarines could be battle ready by 2034, with the government set to sign a key contract with French contractor Naval Group today.

P3: Virgin Australia and charter operator Alliance are to face a public grilling as MPs seek answers on why prices on regional routes are often more expensive than international airfares.

P5: The Law Council of Australia has warned against Labor’s call to extend parliament in response to the banking royal commission, claiming rushed legislation would fail to deliver justice for thousands of victims who can’t afford to legally pursue banks that have ripped them off.

P7: Australia’s resources giants have started their biggest ad campaign since fighting off Kevin Rudd’s mining tax and fired a warning to unions that they expect federal Labor to resist any push for the return of industry-wide bargaining.

P8: New targets to tackle Western Australia’s dismal recycling record are being introduced to force households, local councils and industry to help bring down the highest volume of waste per capita in the nation and the lowest rates of waste recovery.

P17: Regulators have been warned not to increase scrutiny of the nation’s big banks’ non-executive directors to the point where business leaders start to shun appointments to their boards.

P17: The major Australian banks are back on the radar of international equity investors, with the royal commission’s final report removing sovereign risk concerns about the sector that emerged over the past year.

P18: One of the Australian gold plays most frequently touted as a potential acquisition target has quietly appointed defence advisers.

P21: China’s Huawei says it could take up to five years to fully address concerns raised by the British government about its software and engineering processes.

 

The West Australian

P4: A WA magistrate who was criticised for going soft by a former police commissioner just over a year ago has copped a serve after he demanded an easier go for young motorists who flout the road rules.

P7: Slack parents failed to take their children to more than 20,000 outpatient appointments at Perth Children’s Hospital last year, wasting more than $7 million in staffing and resources.

P8: Prime Minister Scott Morrison will today lay the foundation for the Federal Government’s reelection strategy with a speech that puts a priority on Australians’ safety and security and warns of “new and emerging” threats.

P8: WA households are getting one of the worst National Broadband Network deals of any households in Australia, with one in five premises unlikely to receive fast broadband, according to the Federal Opposition.

Business: Iron ore will be the most closely watched commodity in the world this week when Chinese buyers return to the market after the Lunar New Year, days after the steel-making ingredient smashed through $US90 a tonne.

When China wants to learn how to keep the biggest and fastest growing rail network in the world in tip-top shape, it turns to WA for expertise.

A British newspaper has published details of allegations of sexual and racial misconduct by retail tycoon Philip Green after the Topshop owner dropped a legal bid to stop the claims being reported.

 

 

 

 

 

 

 

 

 

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