17/04/2019 - 06:51

Morning Headlines

17/04/2019 - 06:51

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Morning Headlines

Santos makes major gas discovery off WA

Santos’ 2019 exploration campaign in Western Australia has got off to a flying start, with the discovery of one of the largest columns of gas ever found on the North West Shelf in territory secured through its $US2.15 billion ($3 billion) takeover of Quadrant Energy. The Fin

Shorten’s promise that cabinet will have WA flavour

Bill Shorten says he will install a West Australian in his cabinet if elected to the nation’s top job and is determined to reverse the downward jobs trend in the State. The West

Shorten’s $34b super gaffe

Scott Morrison has accused Bill Shorten of lying to voters after the Opposition Leader matched a government promise not to lift taxes on superannuation or introduce new ones despite Labor policies adding up to a $34 billion hit on retirement savings. The Fin

China warns Huawei ban will undermine trade

Beijing has warned Australia not to take a ‘‘discriminatory approach’’ towards Chinese companies, saying it would undermine its ability to benefit from international trade and cooperation. The Fin

Regional migrants scheme a ‘fantasy’

The Migration Council of Australia has called on the incoming government to overhaul the immigration portfolio amid warnings that mismanagement of the migration program will have a “profound impact on our economy and our social cohesion”. The Aus

Show us the money Netflix

The Federal Government has been criticised for a “piecemeal” decision to make government funding available to streaming platforms such as Netflix. The West

Tighter credit, not tax, plagues property player

Tighter credit settings were having a greater effect on the residential property industry than any Labor plan to make negative gearing tax perks available only to investors in new property, Mirvac chief executive Susan Lloyd-Hurwitz said.

Iluka cops pay strike

Iluka Resources chairman Greg Martin says a first strike against the mineral sands miner over its executive pay represents the changing environment in which the company operates. The West

 

 

The Australian Financial Review

Page 1: Scott Morrison has accused Bill Shorten of lying to voters after the Opposition Leader matched a government promise not to lift taxes on superannuation or introduce new ones despite Labor policies adding up to a $34 billion hit on retirement savings.

Page 3: Interest rates could fall below 1 per cent this year, economists say, after the Reserve Bank of Australia board revealed that it believed rate cuts would be ‘‘appropriate’’ if the unemployment rate started to trend up again.

Page 6: Labor has claimed the Coalition would take the axe to health, education and welfare following revelations a future government would have to curb spending by up to $40 billion a year to keep the budget in surplus and pay for its big-spending tax cuts.

Page 12: Beijing has warned Australia not to take a ‘‘discriminatory approach’’ towards Chinese companies, saying it would undermine its ability to benefit from international trade and cooperation.

Page 15: The federal government should create a public gas company to drive investment in new supply, say major energy users, who warn that urgent intervention is needed to avert plant shutdowns and mass job losses.

Page 17: Lynas Corporation has assured investors the company will not be distracted by regulatory rows or a bitter $1.5 billion takeover tussle with Wesfarmers after reaching record production levels at its controversial processing plant in Malaysia.

Santos’ 2019 exploration campaign in Western Australia has got off to a flying start, with the discovery of one of the largest columns of gas ever found on the North West Shelf in territory secured through its $US2.15 billion ($3 billion) takeover of Quadrant Energy.

Rio Tinto has cut iron ore production guidance and faces ongoing problems with getting ships in and out of one of its key West Australian ports that was damaged by a cyclone last month, but analysts see rising prices more than compensating for its woes.

Page 21: Australia’s competition watchdog is prosecuting Bupa Aged Care’s ‘‘serious’’ failure to provide promised services, such as air conditioning in bedrooms and dementia ‘‘smart rooms’’ at its aged care homes across the country, despite the company self-reporting to the regulator and establishing a compensation scheme to pay back residents.

 

 

The Australian

Page 1: Bill Shorten was blindsided yesterday when Labor’s official campaign website deleted reams of information explaining his signature reforms to negative gearing and capital gains tax, and reposted simplified “fact sheets” with key details stripped out.

Page 2: Huge jumps in the amount of money leaving Australia for Luxembourg, Singapore, Switzerland and China have been recorded by Austrac, leading to an 8 per cent rise in the total funds transferred out of the country last year.

Page 4: Labor is backing away from a proposal for an economy-wide training levy on business to help workers adjust to technological change amid a backlash from business over the prospect of a new “robot tax”.

Page 5: The Migration Council of Australia has called on the incoming government to overhaul the immigration portfolio amid warnings that mismanagement of the migration program will have a “profound impact on our economy and our social cohesion”.

Page 19: A record 1.3 million property owners are running at a loss and claiming negative gearing for their investments, far outstripping the 856,000 who either break even or declare a profit, new Australian Taxation Office figures show.

Page 20: Dealmakers are anticipating additional consumer and dairy assets to hit the market soon with a fallout from the east coast drought expected to prompt some owners to cut their losses and sell out.

Wynn Resorts may have walked away from Crown Resorts for now, but the James Packer-backed casino operator is expected to be back on its agenda for a takeover at some stage, subject to its own share price movements.

Page 23: Shares in sought-after buy-now, pay-later group Zip Co took a breather yesterday after unlisted consumer finance business Latitude Financial Services denied any interest in the company.

 

 

The West Australian

Page 7: Council bosses already paid more than Premier Mark McGowan could see their salaries swell by thousands of dollars, flying in the face of the State Government’s pay freeze policy.

Page 10: Bill Shorten says he will install a West Australian in his cabinet if elected to the nation’s top job and is determined to reverse the downward jobs trend in the State.

Page 17: Huawei boss Ken Hu has taken a veiled swipe at Australia over the Federal Government’s decision to exclude the Chinese telecommunications giant from its 5G network.

Page 18: The Federal Government has been criticised for a “piecemeal” decision to make government funding available to streaming platforms such as Netflix.

Page 23: The nation’s biggest bank, the Commonwealth Bank, has been forced to repay 8000 staff up to $15 million in entitlements after embarrassing blunders left thousands of staff shortchanged.

Business: Tighter credit settings were having a greater effect on the residential property industry than any Labor plan to make negative gearing tax perks available only to investors in new property, Mirvac chief executive Susan Lloyd-Hurwitz said.

Chinese giant CITIC’s Cape Preston magnetite project is losing less money but remains well short of washing its face.

Iluka Resources chairman Greg Martin says a first strike against the mineral sands miner over its executive pay represents the changing environment in which the company operates.

Mineral sands miner MZI Resources’ struggle for survival has come to an abrupt end, with administrators taking control of the company yesterday.

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