03/05/2019 - 06:50

Morning Headlines

03/05/2019 - 06:50

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Morning Headlines

Goyder pleads for responsible energy policy

Woodside Petroleum’s new chairman Richard Goyder has called for responsible, nationally determined policy that supports long-term sustainable development, regardless of the outcome of the May 18 election. The Fin

Reforms offer students easier path

WA students will be able to graduate from high school without sitting difficult ATAR exams or completing a vocational qualification, prompting concerns the WA Certificate of Education is being watered down. The West

RBA rate cut threat to banks

National Australia Bank chief executive Philip Chronican has warned that Reserve Bank interest rate cuts would further squeeze bank margins, profits and lending capacity without doing much to boost the economy. The Fin

$8b profit but just $50m in tax

Chevron has made a $US5.9 billion ($8.4 billion) pre-tax profit from its WA operations — its first since building two massive LNG projects in the Pilbara — but paid only $US35 million i($49.96 million) in tax. The West

Workers face $20b pay hit from superannuation rise

Increasing compulsory superannuation to 12 per cent of wages will cost Australian workers $20 billion a year in take-home pay and exacerbate sluggish wage growth, warns a new analysis by the Grattan Institute. The Fin

Former CFMEU heavyweight caught up in property losses

Former union heavyweight Kevin Reynolds says he is owed $1 million after the collapse of companies linked to the son of former premier Brian Burke. The West

World-first sunblock

An Australian-owned company has become the first in the world to develop vitamin D-promoting SPF technology into its skincare products in the biggest change in SPF technology since its invention in 1938. The West

 

 

The Australian Financial Review

Page 1: National Australia Bank chief executive Philip Chronican has warned that Reserve Bank interest rate cuts would further squeeze bank margins, profits and lending capacity without doing much to boost the economy.

Page 3: House prices show no signs of bottoming out with losses now worse than during the global financial crisis, according to analysis by global investment bank UBS.

Increasing compulsory superannuation to 12 per cent of wages will cost Australian workers $20 billion a year in take-home pay and exacerbate sluggish wage growth, warns a new analysis by the Grattan Institute.

Page 5: Labor will establish a future fund to guarantee the longevity of the National Disability Insurance Scheme, seeding it with the $1.6 billion the Coalition will not spend on the scheme next year and used instead to shore up a forecast budget surplus.

Page 12: Unions and employers are urging Labor and the Coalition to deliver immediate pay increases for low-paid aged care workers ahead of the royal commission into the sector, putting pressure on the parties to announce a short-term fix.

Page 15: Wesfarmers has agreed to pay almost $1.4 billion for lithium-related exposure to growth in electric vehicles and batteries in a move managing director Rob Scott hails as the conglomerate playing its part in a lower carbon emissions economy.

Page 17: Uber’s local arm made a gross profit of $785 million connecting Australians to rides and restaurant meals in 2018, but most of this was wiped out by a service payment to its US parent, and it paid just $8.5 million in company tax.

Page 19: The mining sector is returning to its acquisitive, growth-orientated traditions according to the banker representing lithium aspirant Kidman Resources in its $776 million takeover negotiations with Wesfarmers.

Page 20: Woodside Petroleum’s new chairman Richard Goyder has called for responsible, nationally determined policy that supports long-term sustainable development, regardless of the outcome of the May 18 election.

 

 

The Australian

Page 1: Labor will move to a longer term rollout of its pledge to double foreign aid amid claims by the government that to reach its target over a 10-year horizon would require an additional $68 billion.

Page 4: Federal Labor will delay giving trade unions the legal right to pursue multi-employer and industrywide pay claims by at least a year if it wins the election, citing the complexity involved in rewriting the nation’s bargaining rules and the need to first implement other parts of its workplace agenda.

Page 5: The petroleum industry has warned that improving the nation’s fuel standards — which would be necessary for Labor to meet its proposed vehicle emissions target — would significantly add to the amount of greenhouse pollution pumped out by the nation’s refiners.

Page 10: WikiLeaks founder Julian Assange has formally refused to be extradited to the US, claiming he has won “many many awards and protected many many people’’.

Page 19: Woolworths has emerged from Easter trading with the wind in its sails after strong customer traffic helped it deliver accelerating revenue growth, even after arch rival Coles launched its popular kids’ collectables campaign and a price war continued.

Page 22: Federal Labor is considering ways of preventing innocent people being smeared by the media when they appear at public hearings of its planned federal anti-corruption commission.

 

 

The West Australian

Page 5: Former union heavyweight Kevin Reynolds says he is owed $1 million after the collapse of companies linked to the son of former premier Brian Burke.

One of WA’s most influential unions wants schools to teach teenagers about workplace rights, including how to strike.

Page 7: Widespread disruption is feared at Fiona Stanley Hospital this weekend when major digital systems are shut down for up to nine hours of maintenance.

WA students will be able to graduate from high school without sitting difficult ATAR exams or completing a vocational qualification, prompting concerns the WA Certificate of Education is being watered down.

Page 11: WA is a step closer to getting the world’s first shark deterrent cable to protect beaches.

Page 14: Chevron has made a $US5.9 billion ($8.4 billion) pre-tax profit from its WA operations — its first since building two massive LNG projects in the Pilbara — but paid only $US35 million i($49.96 million) in tax.

Page 16: A $100 million recycling investment fund would be created to support making plastics and paper from recycled materials under a Coalition plan to cut waste and boost recycling.

Page 20: An Australian-owned company has become the first in the world to develop vitamin D-promoting SPF technology into its skincare products in the biggest change in SPF technology since its invention in 1938.

Business: AMP shares fell yesterday, but shareholders voted to approve the company’s executive pay report, avoiding a second strike and a potential board spill.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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