24/04/2019 - 06:56

Morning Headlines

24/04/2019 - 06:56

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Morning Headlines

Iron ore spike ‘will not last’

Investment bank majors UBS and Macquarie are warning the outlook for the mining sector is becoming more challenged as they remove BHP and South32 from their buy lists. The West

WA’s $22b carbon cost

WA businesses could be hit by up to $22 billion in extra costs as a result of Labor’s plan to reduce carbon emissions by 45 per cent. The West

Advisers take issue with energy giants over pay

Influential proxy advisers ISS and CGI Glass Lewis have voiced concerns about CEO pay at Woodside Petroleum and Santos ahead of annual shareholder meetings next week, taking issue in particular with incentive payouts for Santos boss Kevin Gallagher and the short-term nature of some targets for Woodside’s Peter Coleman. The Fin

Failed engineer RCR faces new class action

Litigation funder IMF Bentham says it will bankroll a shareholder class action against failed engineering company RCR Tomlinson worth an estimated $50 million. The Aus

Labor’s carbon KO for top companies

Australia’s top companies — including food manufacturers, miners and retailers — will be hit with carbon bills ranging from several millions dollars to up to $1.6 billion each to meet Labor’s emissionsreduction targets by 2030, according to a government analysis of the policy based on a future international carbon price of $62 a tonne. The Aus

Workplace hitch to PM growth pitch

Small business groups, economists and banks warned Prime Minister Scott Morrison that without serious industrial relations reform, lower power prices and enhanced access to finance, his ‘‘ambitious’’ target to create 250,000 small businesses over the next five years is unlikely to succeed. The Fin

Macquarie’s brand Nu Mobile play

Financial services giant Macquarie Group is preparing to enter the telecommunications market with the launch of a mobile business, in a surprise move likely to ramp-up competition in an already fiercely contested sector. The Fin

Top end of town pays $57bn tax

The number of Australians earning enough to put them in the top personal income tax bracket has grown by 26 per cent over the past five years, making the cohort of taxpayers paying the 45 per cent marginal rate the fastest-growing bracket over the period. The Aus

 

 

The Australian Financial Review

Page 1: Small business groups, economists and banks warned Prime Minister Scott Morrison that without serious industrial relations reform, lower power prices and enhanced access to finance, his ‘‘ambitious’’ target to create 250,000 small businesses over the next five years is unlikely to succeed.

Page 3: National Australia Bank is set to crack down on new lending, with an exhaustive inquiry into borrowers’ total debt ranging from tax bills to family loans, overdrafts and lines of credit.

Page 5: Industry experts have renewed calls for Australia to capture more of the growing battery supply chain or risk losing the opportunity to international peers.

Page 6: Clive Palmer has ruled out supporting Labor’s proposed changes to franking credits, negative gearing and capital gains tax if he or any other members of his party succeed in winning Senate seats.

Page 17: Financial services giant Macquarie Group is preparing to enter the telecommunications market with the launch of a mobile business, in a surprise move likely to ramp-up competition in an already fiercely contested sector.

Influential proxy advisers ISS and CGI Glass Lewis have voiced concerns about CEO pay at Woodside Petroleum and Santos ahead of annual shareholder meetings next week, taking issue in particular with incentive payouts for Santos boss Kevin Gallagher and the short-term nature of some targets for Woodside’s Peter Coleman.

Page 19: Former Myer chief executive Richard Umbers has landed on his feet, joining German discounter Kaufland which is preparing to take on Woolworths, Coles and Aldi in Australia’s $100 billion food and grocery market.

Page 20: The chief executive of takeover target Automotive Holdings Group says predator AP Eagers has probably underestimated the amount of synergies it could extract by putting the two businesses together.

Page 21: Afterpay, the buy-now pay-later juggernaut, has revealed it has just more than 100 million shares in issue in its United States subsidiary, as it confirms it has almost exhausted the cheap share options it has used to attract talent to its American operation.

 

 

The Australian

Page 1: Scott Morrison is on the verge of securing a preference deal with Clive Palmer that would all but guarantee the Queensland billionaire a Senate spot and help ringfence marginal seats the Coalition must hold to retain government.

Page 4: The number of Australians earning enough to put them in the top personal income tax bracket has grown by 26 per cent over the past five years, making the cohort of taxpayers paying the 45 per cent marginal rate the fastest-growing bracket over the period.

Labor’s pledge to introduce an uncapped visa allowing migrant households to sponsor up to four ageing parents will be “very popular” among those facing waits of up to 30 years for permanent parents’ visas, experts say.

Page 5: Australia’s top companies — including food manufacturers, miners and retailers — will be hit with carbon bills ranging from several millions dollars to up to $1.6 billion each to meet Labor’s emissions reduction targets by 2030, according to a government analysis of the policy based on a future international carbon price of $62 a tonne.

Page 6: Pauline Hanson has savaged Scott Morrison for condoning preference talks with Clive Palmer while taxpayers continue footing the bill for almost $67 million in unmet entitlements for workers sacked at his Townsville nickel refinery.

Page 7: Soccer’s A-League might have suffered from a real lack of star quality on the field this season, but the man known as “God” to millions of fans around the world could be the one to help resurrect the game’s fortunes next season.

Page 17: Labor will examine overhauling the current industrial relations system enjoyed by the industry superannuation sector in a move that could see poor-performing funds stripped of their default status.

Litigation funder IMF Bentham says it will bankroll a shareholder class action against failed engineering company RCR Tomlinson worth an estimated $50 million.

Page 18: The sales process for the Buckeridge Group of Companies’ contracting operations is likely to get into full swing as early as next week, when flyers are expected to be sent out for the sale process.

Page 19: At 35 years of age, Rio Tinto’s Argyle diamond mine is nearing the end of its operating life — but the massive Kimberly mine is still capable of producing special gems.

Page 20: The proportion of women in technology and telco firms in large Australian companies has dropped 6 per cent in a year, according to a new report on gender equity and technology.

Page 22: The initial public offerings of Uber Technologies and rival Lyft stand to enrich early investors. But for customers of these ride-hailing services, the IPOs might eventually cost them money.

 

 

The West Australian

Page 3: Three million Australians — one in every eight people including children — are now reliant on antidepressants as concerns mount we are over diagnosing and over treating depression.

Page 6: In a move that has outraged medical experts, an Australia-based company is now presenting women with offers by advertising thousands of dollars in discounts for a “Mummy Makeover” package via Shop A Dockets.

Page 10: Clive Palmer has been described as an “unsavoury character” by a Liberal MP as the party looks to secure a preference deal with the billionaire’s party in a bid to save key WA seats.

Page 11: WA businesses could be hit by up to $22 billion in extra costs as a result of Labor’s plan to reduce carbon emissions by 45 per cent.

The historic first-ever leaders’ debate to be held in WA during a Federal election campaign has been locked in for 5pm next Monday.

Voters in Christian Porter’s electorate of Pearce want funding for schools over a tax cut.

Page 16: The Returned and Services League’s project to build a one-stop shop for veterans in Perth’s CBD was boosted yesterday with a $4.6 million grant from the State Government.

Page 21: Perth’s Dial-A-Doctor service, which bulk bills patients for treating them at home, has gone into administration owing more than $9 million to creditors.

Business: Investment bank majors UBS and Macquarie are warning the outlook for the mining sector is becoming more challenged as they remove BHP and South32 from their buy lists.

The Association of Mining and Exploration Companies says a proposed crackdown on skilled migration visas will do nothing to ease a shortage of workers in some areas of the mining sector.

Manganese miner OM Holdings has swooped on Bryah Resources, signing a $7.3 million farm-in and joint venture deal with the junior as it looks for new sources of ore to replace its Bootu Creek mine in the Northern Territory.

Deputy Prime Minister Michael McCormack has rejected requests to extend the January 2020 deadline for banning ships that carry sheep in two tiers, despite concerns it will trigger a shutdown in the live export trade.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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