07/05/2019 - 06:20

Morning Headlines

07/05/2019 - 06:20

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Morning Headlines

China’s big brother in Perth

Video surveillance cameras that recognise your face, detect your gender, the colour of your clothes and how fast you’re travelling, and then track your movements, will be up and running in Perth by the end of the month. The West

Trump trade threat hits markets

Fears that US-China trade talks are on the brink of collapse following Donald Trump’s threat to raise tariffs on Chinese goods sparked a sell-off on regional markets and raised fresh concerns about Australia’s economic health in the lead up to the federal election. The Fin

Talison to expand its lithium operation

Talison Lithium will spend another $100 million at its Greenbushes mine south of Perth to extract lithium from tailings produced before the battery minerals boom when it prioritised extracting tantalum. The West

Company tax cuts consigned to never-never by both parties

Medium and big business could face a wait of at least a decade for another chance of a corporate tax cut after Josh Frydenberg suggested the economic activity generated by the Coalition’s long-term income tax cuts and a friendlier industrial relations environment would have to suffice. The Fin

Labor’s carbon plan ‘to cost miners $2bn’

Australian coal miners face a $2 billion-plus hit from Labor’s enlarged carbon plan, with the cost of meeting emissions reduction targets to dent the profits of large producers including BHP, South32 and Glencore, consultancy Wood Mackenzie has warned. The Aus

Probe fallout hits CIMIC

Shares in CIMIC Group have crashed after a Hong Kong research firm issued a scathing report accusing Australia’s biggest construction company of inflating profits by $1 billion over two years. The West

New ABC boss warns job cuts inevitable

New ABC managing director David Anderson has warned that cuts to staff and services are “inevitable” under budget measures that would strip $84 million from the broadcaster over the next three years. The Aus

NBN ‘bleeds’ as revenue targets prove elusive

NBN Co is counting on a sudden surge of consumer demand for higher speeds and aggressive expansion of its enterprise business to boost revenue to sustainable levels, after revealing it is still way off the targets necessary to avoid a write-down. The Fin

Push to create 35,000 jobs in 2019

Despite fears of a tech-led job apocalypse, the rise of digital transformation across Australian organisations will lead to the creation of 35,000 jobs in 2019, according to a comprehensive Australian study. The Fin

Fake news tests

Aussie kids will be taught how to better identify fake news online under an Australia-first program to be rolled out next year. The West

 

 

The Australian Financial Review

Page 1: Fears that US-China trade talks are on the brink of collapse following Donald Trump’s threat to raise tariffs on Chinese goods sparked a sell-off on regional markets and raised fresh concerns about Australia’s economic health in the lead up to the federal election.

Bill Shorten’s spending spree has topped $60 billion in the election campaign and is set to rise further, putting Labor on track to lift federal spending as a share of the economy to be nearly as much as the Rudd government’s global financial crisis-era stimulus.

Page 3: The Australian Council of Superannuation Investors said that as top-200 companies come close to reaching a 30 per cent gender target, the peak super body wants to set a new target of 40-50 per cent of women on top boards by 2025.

Page 4: Medium and big business could face a wait of at least a decade for another chance of a corporate tax cut after Josh Frydenberg suggested the economic activity generated by the Coalition’s long-term income tax cuts and a friendlier industrial relations environment would have to suffice.

Page 6: Global giants including Facebook, Google, Nike, McDonald’s and IKEA are among the companies that Labor expects to catch with its latest multinational tax avoidance crackdown.

Page 12: Occidental Petroleum increased the cash component of its $US38 billion ($54.5 billion) bid to acquire Anadarko Petroleum on Sunday (Monday AEST), removing a requirement for any deal to receive the approval of Occidental’s shareholders.

Page 13: Westpac Banking Corp chief executive Brian Hartzer says the bank is close to a turning point after getting ahead of the curve on customer remediation and making the strategic decision to jettison its loss-making personal advice business.

Page 15: NBN Co is counting on a sudden surge of consumer demand for higher speeds and aggressive expansion of its enterprise business to boost revenue to sustainable levels, after revealing it is still way off the targets necessary to avoid a write-down.

Page 18: Lynas Corporation is pushing ahead with plans to build a permanent disposal facility for low-level radioactive waste in Malaysia despite a contested ultimatum to export about 450,000 tonnes of residue already stockpiled by September.

Page 19: Australia’s largest brick company has set up a joint venture company with ASX-listed robotics group FBR Limited to accelerate testing of a large robotic bricklaying vehicle called Hadrian X in a commercial setting.

Page 26: Despite fears of a tech-led job apocalypse, the rise of digital transformation across Australian organisations will lead to the creation of 35,000 jobs in 2019, according to a comprehensive Australian study.

 

 

The Australian

Page 3: New ABC managing director David Anderson has warned that cuts to staff and services are “inevitable” under budget measures that would strip $84 million from the broadcaster over the next three years.

Page 4: Labor’s bold plan to make taxpayers fund wage rises for childcare workers is an exercise in “boosting union membership”, with Josh Frydenberg alleging yesterday the policy has been costed on just half the number of actual employees in the industry.

Page 5: Scott Morrison has been secretly handed a $500,000 campaign gift from the Cormack Foundation but the Victorian Liberal Party faces a $1.8 million annual hit to its finances.

Page 6: Some of Australia’s largest superannuation funds risk being caught out by Labor’s planned franking credit shake-up, despite claims they will be exempt from the $6 billion crackdown.

Page 19: Australian coal miners face a $2 billion-plus hit from Labor’s enlarged carbon plan, with the cost of meeting emissions reduction targets to dent the profits of large producers including BHP, South32 and Glencore, consultancy Wood Mackenzie has warned.

Page 20: Oil and gas explorer FAR Limited and Cairn Energy are understood to have hired an adviser to sell a stake in the $US3 billion ($4.27bn) SNE development in Senegal.

Page 21: Construction giant CIMIC failed to cool market nerves as hit back at claims of financial account “engineering” levelled by a Hong Kong research house, releasing a statement to the market almost a week after the allegations were aired.

 

 

The West Australian

Page 3: Video surveillance cameras that recognise your face, detect your gender, the colour of your clothes and how fast you’re travelling, and then track your movements, will be up and running in Perth by the end of the month.

Page 4: Aussie kids will be taught how to better identify fake news online under an Australia-first program to be rolled out next year.

Page 5: Scott Morrison says he hasn’t offered Clive Palmer anything in return for a preference deal that could see the Coalition save key seats at the May 18 election.

Page 6: WA businesses are calling on the McGowan Government to give small operators a tax break in the State Budget after a big fall in the sector’s confidence about the year ahead.

Business: Perth CBD’s biggest office landlord has added to its portfolio by making a deal with Chevron to buy and develop land at Elizabeth Quay that the energy giant bought from the State Government for $64 million.

Shares in CIMIC Group have crashed after a Hong Kong research firm issued a scathing report accusing Australia’s biggest construction company of inflating profits by $1 billion over two years.

Talison Lithium will spend another $100 million at its Greenbushes mine south of Perth to extract lithium from tailings produced before the battery minerals boom when it prioritised extracting tantalum.

Treasury Wine Estates, the world’s biggest standalone winemaker, says it has won a lawsuit against a “copycat” it had accused of imitating its prestigious Penfolds brand in China.

Retail Food Group has acknowledged extending use-by dates on food products but says it is withdrawing them from sale by franchisees.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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