02/05/2019 - 06:24

Morning Headlines

02/05/2019 - 06:24

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Morning Headlines

Labor’s climate change policies will lead to 32,000 WA jobs being axed

Labor’s climate change policies will lead to 32,000 WA jobs being axed over the next decade and $76 billion wiped from the local economy, according to new modelling. The West

AHG losing takeover battle

Takeover target Automotive Holdings Group looks to be fighting a losing battle, with another rush of support from big shareholders putting AP Eagers in the driving seat of Australia’s biggest car retailer. The West

Husic announces $3m blockchain academy

Labor has unveiled plans to invest $3 million to establish a new national academy in Perth to train workers in in-demand skills related to blockchain technology. The Fin

Rio fast-tracks copper in hunt for growth

Rio Tinto will fast-track its Winu copper discovery in Western Australia as part of a shift to convince investors of its growth options, while downplaying the near-term prospects from its Simandou iron ore prospect in Guinea. The Aus

Cost of living climbs for pensioners

The cost of living for wage and salary earners has not increased in the past three months, according to official figures, undermining Labor’s key election narrative that prices are going up but not wages. The Fin

Greens cling to hope of ALP alliance

Greens leader Richard Di Natale will attempt to use his influence in the Senate to introduce a carbon price and has left open the possibility of allowing foreign carbon credits in any climate change deal with a Shorten government. The Aus

Burke link to $20m collapse

Liquidators were appointed to the company Greentop Nominees in February, which traded as the Handle Property Group. Peter Burke, the son of the 1990s WA Labor leader, was a director of Greentop Nominees. The West

Art Series hotel in picture for Perth

WA property developer George Atzemis has partnered with international hospitality group Accor to bring a $90 million Art Series hotel to Perth. The West

 

 

The Australian Financial Review

Page 1: Labor’s decision to allow heavy polluters to offset emissions using international carbon credits has ‘‘substantially’’ reduced previous estimates of the negative economic impact of its climate policy, new modelling shows.

Page 3: The cost of living for wage and salary earners has not increased in the past three months, according to official figures, undermining Labor’s key election narrative that prices are going up but not wages.

One of corporate Australia’s most significant figures, former BHP chairman and Business Council of Australia president Sir Arvi Parbo, has died at the age of 93.

Page 4: Media mogul Harold Mitchell will call high-profile witnesses including former Ten chief executive James Warburton to fight the corporate regulator’s case that he secretly helped Seven win the television rights for tennis.

Page 6: Patients will enjoy access to cheaper or free medicine sooner under a reelected Coalition government, with Scott Morrison hailing the $308 million policy as the dividend of a healthy budget.

Page 8: Labor has put universities on notice that they will not get any extra money for research and they will be under greater scrutiny to show students and parents that they can get people into jobs and give value for the fees they charge.

Page 9: Labor has unveiled plans to invest $3 million to establish a new national academy in Perth to train workers in in-demand skills related to blockchain technology.

Page 11: China took another step in opening its $US44 trillion ($62.4 trillion) financial sector to the world, announcing plans to remove limits on ownership in local banks and scrap size requirements for foreign firms that operate onshore.

Page 12: Warren Buffett’s intervention in Occidental Petroleum’s $US37 billion ($52.5 billion) unsolicited bid for Anadarko Petroleum may tip the scales in the oil industry’s biggest bidding war in decades.

Page 15: ANZ Banking Group has botched the application of tighter lending rules demanded by regulators and the royal commission, leading to a plunge in profits in its retail bank and questions about whether it has cut costs too aggressively to maintain profit growth in a rugged banking environment.

Page 17: The chief executive of Aldi says the retailer is unlikely to surpass in 2019 the 10 per cent sales growth achieved in 2018, although house price declines and cost-of-living pressures are bringing more customers to its 540 stores.

Page 20: The a2 Milk Company has confirmed its full-year guidance and outlined plans to double down on its marketing spend in the second half after revealing it has gained share at home and in China in infant formula.

 

 

The Australian

Page 1: Unlimited access to cheap foreign carbon credits could halve the negative impact of Labor’s cap-and-trade carbon policy but it would still cost $264 billion in lost economic activity, according to independent modelling to be released today.

Page 2: The last major decision signed off by the National Disability Insurance Agency board before its chief executive quit suddenly during an election campaign was to dramatically boost the price paid for provider services by $800 million each year.

WikiLeaks founder Julian Assange has been sentenced to 50 weeks’ jail for breaching British bail conditions when he sought asylum inside the Ecuadorean embassy nearly seven years ago.

Page 4: Greens leader Richard Di Natale will attempt to use his influence in the Senate to introduce a carbon price and has left open the possibility of allowing foreign carbon credits in any climate change deal with a Shorten government.

Page 8: The streets of Caracas were in chaos last night after President Nicolas Maduro declared he had defeated an attempted coup by Venezuela’s popular opposition leader.

Page 17: ANZ chief executive Shayne Elliott wants to slice another $1 billion in costs from the bank over the next three years to help offset waning growth, as he targets large savings through automation and cutting branches and staff.

Page 19: Nine Entertainment Co chief executive Hugh Marks is confident of retaining both radio star Alan Jones and a content deal with Disney within the expanded media conglomerate.

Page 20: Rio Tinto will fast-track its Winu copper discovery in Western Australia as part of a shift to convince investors of its growth options, while downplaying the near-term prospects from its Simandou iron ore prospect in Guinea.

Page 24: Shopping centre giant Scentre Group has reaffirmed guidance of a 3 per cent uplift in funds from operations for the financial year, with retailer sales rising 1.1 per cent for the quarter.

 

 

The West Australian

Page 3: Liquidators were appointed to the company Greentop Nominees in February, which traded as the Handle Property Group. Peter Burke, the son of the 1990s WA Labor leader, was a director of Greentop Nominees.

Page 8: Labor’s climate change policies will lead to 32,000 WA jobs being axed over the next decade and $76 billion wiped from the local economy, according to new modelling.

Voters are turning to Google to ask how old Scott Morrison and Bill Shorten are, whether Greens candidates are vegans and how Clive Palmer made so much money.

Page 9: More than 1.4 million Australians will have the price of their medicines slashed by up to $80 a year and get access to free medicine sooner as part of a major announcement by the Coalition today.

Page 16: Plans to begin construction of a restaurant complex on the Sari Club bomb site in Bali have been put on hold pending further negotiations.

Business: Takeover target Automotive Holdings Group looks to be fighting a losing battle, with another rush of support from big shareholders putting AP Eagers in the driving seat of Australia’s biggest car retailer.

WA property developer George Atzemis has partnered with international hospitality group Accor to bring a $90 million Art Series hotel to Perth.

Bryan Dixon has parted ways with embattled gold miner Blackham Resources after 13 years as managing director and chief executive.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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