10/05/2019 - 06:41

Morning Headlines

10/05/2019 - 06:41

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Morning Headlines

WA keeps lid on its iron ore royalty windfall

Western Australia’s Labor government has tried to hose down the prospect of an extended windfall from iron ore royalties after the recent price spike pushed the state to what Premier Mark McGowan is claiming as its first operating surplus in five years. The Fin

Miners caught in Trump’s volley against Iran

Australian mining firms drawn to Iran after sanctions were lifted during the Obama administration are in danger of becoming collateral damage after Donald Trump slapped a ban on metals exports from the Islamic republic. The Fin

WA to be all the wage again

The McGowan Government’s 2019-20 Budget shows a $16 billion pipeline of new capital spending on iron ore and lithium projects is already turning WA’s fortunes around, with thousands of extra jobs likely to be created in the next 12 months. The West

Medical research spending doubles

The West Australian government has launched a $52 million medical research and innovation fund as the “centrepiece” of its budget in a plan that will double its spend in that space. The Aus

Income tax cuts, bigger surpluses

Labor will promise a budget surplus more than twice the size of the Coalition’s within four years when it releases official policy costings that will show its proposed tax increases will raise $154 billion over 10 years. The Fin

Huawei ban rules out tilt at mobile: TPG

TPG Telecom founder David Teoh insists his company has no intention of building a mobile network, and that even if it wanted to, the necessary technology is not available. The Fin

Apprentice bounty to bridge skills gap

The McGowan Government has given WA business owners further cause to hire an apprentice or trainee, offering an $8500 payment per worker. The West

Orica blasts welding

Yara’s billion dollar-plus Pilbara explosives plant was shut down after a “terminal cancer of leaks” caused by faulty welding done in China, according to part-owner Orica. The West

 

 

The Australian Financial Review

Page 1: Labor will promise a budget surplus more than twice the size of the Coalition’s within four years when it releases official policy costings that will show its proposed tax increases will raise $154 billion over 10 years.

Page 3: Shop employees are set to feel the fallout of new wage agreements, to cost between $10 million and $200 million a year, as retailers minimise their impact by tightening rosters, automation and simplifying processes.

Page 4: Western Australia’s Labor government has tried to hose down the prospect of an extended windfall from iron ore royalties after the recent price spike pushed the state to what Premier Mark McGowan is claiming as its first operating surplus in five years.

Page 5: AGL Energy chief executive Brett Redman says Australia needs to be “steely-eyed” on the transition to cleaner energy, pacing the closure of coal power generators carefully to avoid a shock to the economy but without losing sight of the end goal.

Page 16: Uber’s initial public offering was expected to be one of the hottest stock deals in years. But its imminent market debut has now become an exercise in dialling back expectations.

Page 17: TPG Telecom founder David Teoh insists his company has no intention of building a mobile network, and that even if it wanted to, the necessary technology is not available.

Page 20: GrainCorp says it remains deep in talks with potential buyers of major parts of its business – possibly including the core grains business – three days after Long Term Asset Partners abandoned a $3.3 billion takeover tilt.

Page 21: Australian mining firms drawn to Iran after sanctions were lifted during the Obama administration are in danger of becoming collateral damage after Donald Trump slapped a ban on metals exports from the Islamic republic.

 

 

The Australian

Page 1: Refugees on Nauru and Manus Island have told officials they are hoping a new government will be elected and tough border security policies overhauled, delivering them a pathway to resettle in Australia and New Zealand.

Page 2: The number of secondary students being taught mathematics by teachers without adequate training in the discipline is set to rise, sparking a call for the next federal government to take urgent action on the “entrenched and severe” workforce shortfall.

Page 6: A Shorten government may be forced to pay billions of dollars more to the states for public hospital services after Labor confirmed — ahead of being in a position to negotiate a new funding agreement — that it planned to remove the cap on federal contributions.

Page 13: The West Australian government has launched a $52 million medical research and innovation fund as the “centrepiece” of its budget in a plan that will double its spend in that space.

Western Australia remains exposed to an uncertain global economic outlook, with the state’s Treasurer, Ben Wyatt, warning that any hit to international trade would be keenly felt by the export-reliant state.

Page 23: TPG Telecom boss David Teoh has dismissed the competition regulator’s claim that the emerging telco could still become the fourth mobile operator, leaving Telstra and Optus to fight it out for pole position on 5G.

Rio Tinto boss Jean-Sebastien Jacques believes “common sense will prevail” to prevent a damaging trade war between the US and China, as the iron ore giant considers options to take advantage of supply disruptions on global markets.

Page 24: Fresh from agreeing terms for its $2.3 billion merger with Automotive Holdings Group, there are question as to what plans AP Eagers has for its property portfolio.

Page 29: Jetstar is now the only low-fares carrier in the top 10 international airlines operating out of Australia, after AirAsia X’s market share took another hit in February.

 

 

The West Australian

Page 8: The McGowan Government’s 2019-20 Budget shows a $16 billion pipeline of new capital spending on iron ore and lithium projects is already turning WA’s fortunes around, with thousands of extra jobs likely to be created in the next 12 months.

Page 10: Labor wants to deliver Australians an extra $200 billion in tax cuts over the next 10 years by promising to match the tax record of former prime minister John Howard.

Page 11: Labor’s plans to have Australians charge their electric vehicles via solar panels on their rooftops could see some cars take up to five days to fully charge.

Page 14: The longest running sports entertainment program in prime-time Aussie TV has met its bitter end with last night’s announcement that The Footy Show has been axed.

Page 16: Insolvency experts have slashed prices on $9 million of diamonds and fine jewellery in a bid to save Craig Rosendorff’s landmark Perth business.

Page 26: The winemakers of Champagne might be choking on their croissants when they find out today that Australia’s big red winemaker Penfolds has released a sparkling wine from under their noses.

Business: The McGowan Government has given WA business owners further cause to hire an apprentice or trainee, offering an $8500 payment per worker.

HBF has struck a $110 million-plus deal to sell its Perth headquarters in the Kings Square precinct to a German property investment company.

Yara’s billion dollar-plus Pilbara explosives plant was shut down after a “terminal cancer of leaks” caused by faulty welding done in China, according to part-owner Orica.

A water economics specialist has dismissed as too optimistic the findings of a CSIRO report that developing land along the Kimberley’s Fitzroy River could create a $1 billion-plus agricultural hub.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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