26/03/2019 - 06:56

Morning Headlines

26/03/2019 - 06:56

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Morning Headlines

WA’s Cyclone Veronica smashes billion-dollar hole in ore exports

Slow-moving and destructive Cyclone Veronica has already put a billion dollar-plus hole in Australia’s iron ore export schedule as resources companies and government agencies scramble to assess the damage and the clean-up begins. The Fin

Independence mulls sale of goldmine stake

Independence Group says it has received several approaches for its 30 per cent stake in the lucrative Tropicana goldmine in Western Australia, although the company is in no rush to sell. The Aus

Living wage for 1.2m in Labor pitch

Significant wage rises would begin flowing to 1.2 million low paid workers from next July under Bill Shorten’s “living wage” policy, which would force the Fair Work Commission to prioritise lifting workers out of poverty above business viability and jobs growth. The Aus

Record low yields stoke fears   

Australia’s 10-year bond rate has tumbled to a historic low 1.76 per cent, swept up in a firestorm of fears around slowing global growth, and expectations the Reserve Bank will be unable to resist cutting interest rates. The Fin

Social media chiefs get jail term warning

Prime Minister Scott Morrison will tell Facebook, Twitter and Google executives in Brisbane on Tuesday that the drafting of tough new laws is well advanced and the government will try to legislate them if the tech titans fail to act. The Fin

Telcos slam NBN’s marketing push

Big Australian telcos are demanding NBN Co stop aggressively targeting their business customers, a move they claim is breaching the government-owned infrastructure provider’s strict remit as a wholesaler. The Fin

ATO resolves leave loading question

Employers paying leave loading to workers without proof they’re entitled to overtime have won a significant concession for the Tax Office, with a new ruling clearing them from paying historical superannuation guarantee shortfalls. The Fin

Free jabs after measles chaos

Thousands of WA adults will be offered a free measles vaccine before the Easter and school holidays, after a dangerous surge in measles in the past year. The West

 

 

 

The Australian Financial Review

Page 1: Australia’s 10-year bond rate has tumbled to a historic low 1.76 per cent, swept up in a firestorm of fears around slowing global growth, and expectations the Reserve Bank will be unable to resist cutting interest rates.

Page 2: Trade Minister Simon Birmingham is warning that several free-trade pacts are at risk of collapse, hurting exporters and the economy, because of Labor’s promise to renegotiate them over ‘‘trivial left-wing obsessions’’.

Page 3: Prime Minister Scott Morrison will tell Facebook, Twitter and Google executives in Brisbane on Tuesday that the drafting of tough new laws is well advanced and the government will try to legislate them if the tech titans fail to act.

Page 7: Australian companies in China are less upbeat about their operations in the country than they were a year ago, with domestic competition and the threat of a US trade war denting their short-term confidence.

Page 8: Employers paying leave loading to workers without proof they’re entitled to overtime have won a significant concession for the Tax Office, with a new ruling clearing them from paying historical superannuation guarantee shortfalls.

Page 10: Top fossil fuel companies from petrol refiner Caltex Australia to coal and gas companies New Hope Corporation, Whitehaven Coal, Santos and Woodside Petroleum are ‘‘out of line’’ with the Paris climate agreement, says environmental activist group Market Forces.

Page 11: Donald Trump claimed ‘‘total and complete exoneration’’ after Special Counsel Robert Mueller found no evidence the President colluded with Russia’s interference in the 2016 presidential election, delivering a major legal and political victory that paves a path for his re-election in 2020.

Page 13: Big Australian telcos are demanding NBN Co stop aggressively targeting their business customers, a move they claim is breaching the government-owned infrastructure provider’s strict remit as a wholesaler.

Page 14: ASX-listed potash upstart Kalium Lakes has called in Macquarie Capital’s bankers to help prepare the company for the final piece of a $200 million-plus funding puzzle.

Page 15: Slow-moving and destructive Cyclone Veronica has already put a billion dollar-plus hole in Australia’s iron ore export schedule as resources companies and government agencies scramble to assess the damage and the clean-up begins.

Page 16: Westpac has acknowledged that first-half profit for 2019 will be hit by a $260 million customer compensation bill as it looks to ramp up efforts to repay customers who have been wronged.

Page 25: Caltex Australia is driving up its investment in technologies including petrol payment apps and automatic number plate recognition that could bill drivers without them having to leave their cars.

 

 

The Australian

Page 1: Significant wage rises would begin flowing to 1.2 million low paid workers from next July under Bill Shorten’s “living wage” policy, which would force the Fair Work Commission to prioritise lifting workers out of poverty above business viability and jobs growth.

Page 4: Deputy Prime Minister Michael McCormack will be forced to fight to retain his seat at the upcoming May election as businessmen Dick Smith vows to bankroll an independent challenger and the Shooters, Fishers and Farmers Party confirms a plan to dislodge the Nationals leader from his NSW electorate of Riverina.

Page 6: A major fund manager owned by the union and employer-backed industry superannuation fund sector is under pressure to dump its major shareholding in a Canberra company facing claims it is exporting a weapons system destined for Saudi Arabia.

Page 7: The higher suicide rate among indigenous Australians is an “outrage” that warrants greater attention, according to the head of a Productivity Commission inquiry.

Page 17: Savers in union-and-employer-backed industry superannuation funds could be hit with administration flat fee increases of 40 per cent a year following government reforms stopping the use of low-balance accounts and young worker nest eggs to cross-subsidise other members.

Page 19: Mining giant Rio Tinto is facing a slower return to exports than its Pilbara iron ore rivals after Tropical Cyclone Veronica turned towards its ports.

Page 20: Dacian Gold has blamed its production downgrade on an unexpected shortage of maintenance personnel, in the latest sign of labour shortages in the mining industry.

Independence Group says it has received several approaches for its 30 per cent stake in the lucrative Tropicana goldmine in Western Australia, although the company is in no rush to sell.

 

 

The West Australian

Page 3: Thousands of WA adults will be offered a free measles vaccine before the Easter and school holidays, after a dangerous surge in measles in the past year.

Page 5: Potentially flammable cladding has been found at Fiona Stanley Hospital, only days after work began to remove similar material at King Edward Memorial Hospital.

Page 8: Over the past 12 years, for every dollar of motoring taxation collected by the Federal Government, WA has received just 34¢ back for road and transport projects, according to a new report.

Prime Minister Scott Morrison says he will not “miss the opportunity” to offer tax relief in next week’s Budget, vowing to help workers with cost-of-living pressures.

Page 9: The AFL’s focus on stamping out racism has shifted from the nation’s football fields to homes where cowards operate from behind their keyboards.
Business: A WA union is threatening to disrupt the start of construction at a $1 billion lithium processing plant near Bunbury over complaints local workers risked being overlooked.

Restraining orders could be slapped on vegan activists who trespass on WA farms, as part of a bid to help protect farmers from further attacks.

A carrot will be dangled in front of farmers to promote biodiversity and carbon management through a new $30 million Federal Government scheme.

National Australia Bank is dumping its controversial mortgage referral scheme, under which “introducers” receive commissions for referring home loan customers to the bank.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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