30/05/2019 - 06:45

Morning Headlines

30/05/2019 - 06:45

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Morning Headlines

Debt-free Galaxy Resources to back lithium processing plant in China

Galaxy Resources is poised to make the leap from lithium exporter to battery chemicals producer with a processing plant investment in China. The Fin

Canavan rebukes business on carbon

Resources Minister Matthew Canavan has attacked major oil and gas companies for their ongoing support for a carbon price and urged them to rethink their position, saying they were out of step with the Australian people. The Aus

Coles reviews promotions as ‘waste’ hits $10b

Coles is reviewing its promotional and pricing strategies after admitting it had struggled with its 10-year quest to shift shoppers and suppliers towards ‘‘every day low prices’’ rather than discounts, which cost the Australian food and grocery sector $51 billion a year. The Fin

Call for cap on vehicle emissions

The Chief Scientist says the Morrison government could consider introducing vehicle emission standards to help reach climate-change targets given a carbon price was ‘‘unlikely to happen in the near term’’. The Fin

Fears US-China deal may hurt others

Indonesia is spearheading a rearguard fight with Australia’s support to stop the US and China damaging other nations’ economic interests when they eventually strike a deal to end their trade war, amid mounting fears over the future of the multilateral trading system. The Fin

Telstra faces $200m restructure blowout

Telstra chief executive Andy Penn has framed a $200 million blowout in restructuring costs as proof the company is ahead of schedule on the massive job-cutting program at the centre of his signature T22 plan. The Fin

Apple, Samsung feel heat as phone sales dive

Smartphone sales are falling in Australia with both Apple and Samsung feeling the brunt of the declines, according to new figures released yesterday. The Aus

Northbridge car ban plan

Cars could be banned from the heart of Northbridge on Friday and Saturday nights under a proposal from the City of Perth. The West

 

 

The Australian Financial Review

Page 1: Labor is clearing the decks for a policy overhaul with a frontbench shake-up that will gut its economics team and install Jim Chalmers as the new shadow treasurer.

Page 3: The Federal Court has blasted the litigation funder’s cut from a class action as ‘‘fantastic in the true sense of the word’’ and warned it would leave workers with less than half their unpaid wages, at best.

Page 5: Indonesia is spearheading a rearguard fight with Australia’s support to stop the US and China damaging other nations’ economic interests when they eventually strike a deal to end their trade war, amid mounting fears over the future of the multilateral trading system.

The Chief Scientist says the Morrison government could consider introducing vehicle emission standards to help reach climate-change targets given a carbon price was ‘‘unlikely to happen in the near term’’.

Page 8: Australia’s international economic competitiveness is being held back by shortcomings in energy, tax and technology, a new international survey has found.

Page 9: Property and equity owners were more likely to side with the Coalition, while renters favoured the minor parties, two studies of voter behaviour have found.

Page 15: Coles is reviewing its promotional and pricing strategies after admitting it had struggled with its 10-year quest to shift shoppers and suppliers towards ‘‘every day low prices’’ rather than discounts, which cost the Australian food and grocery sector $51 billion a year.

Page 17: Telstra chief executive Andy Penn has framed a $200 million blowout in restructuring costs as proof the company is ahead of schedule on the massive job-cutting program at the centre of his signature T22 plan.

Page 19: Smartphone digital wallets offered by Google, Apple and other technology giants will put $22 billion of revenue across the major Australian banks at risk, according to Morgan Stanley, forcing banks to lift digital investment to stay competitive.

Page 21: Galaxy Resources is poised to make the leap from lithium exporter to battery chemicals producer with a processing plant investment in China.

 

 

The Australian

Page 1: A naval ship has delivered asylum seekers to Christmas Island’s jetty for the first time in five years, after intercepting 20 Sri Lankans who set sail for Australia during the federal election campaign.

Resources Minister Matthew Canavan has attacked major oil and gas companies for their ongoing support for a carbon price and urged them to rethink their position, saying they were out of step with the Australian people.

Page 2: The Fair Work Commission will today hand down its annual minimum wage decision, revealing the weekly pay rise that will flow through to 2.2 million workers from July 1.

Page 4: Indigenous Affairs Minister Ken Wyatt — who yesterday became the first indigenous person sworn into cabinet — says the government will not rush to install a voice to parliament, declaring a referendum for constitutional recognition was a “long-term” project.

Page 6: Coal mining companies have been given an ultimatum by the Palaszczuk government to contribute to a new “voluntary” infrastructure fund or face possible hikes in royalties.

Page 17: Big Australian energy users face little respite from high gas prices and tight supplies, with greater action needed by producers to lower domestic tariffs, competition regulator Rod Sims will warn today.

Property group Mirvac has moved quickly to capitalise on buoyant sharemarket conditions and forecasts of a housing recovery to launch one of the year’s largest capital raisings.

Page 19: The rise of video and music streaming services will do to freeto-air television and radio services what online classifieds did to newspaper print revenue and could have implications for commercial and public broadcasters, as well as the value of sporting rights, according to new research from Morgan Stanley.

Smartphone sales are falling in Australia with both Apple and Samsung feeling the brunt of the declines, according to new figures released yesterday.

 

 

The West Australian

Page 4: Pre-service teachers about to enter WA primary schools do not have the knowledge to protect children from harmful UV rays, according to research.

Page 5: The proponent behind a failed bid to build a wave park in Alfred Cove says it is looking for a new site in Perth.

Page 6: The shark net protecting Albany’s Middleton Beach could be gone within 12 months unless the council can secure funding for a replacement.

Page 7: Outgoing Australian Medical Association WA head Omar Khorshid has unloaded on the State Government over its euthanasia push and heath cuts, complaining Labor is more interested in Budget surpluses than funding beds for patients.

Page 8: Labor’s shadow agriculture minister Joel Fitzgibbon is pushing for the party to keep its policy banning live sheep exports.

Page 14: Cars could be banned from the heart of Northbridge on Friday and Saturday nights under a proposal from the City of Perth.

Business: WA’s newest gold mine is expected to begin production within days, according to Gold Road Resources boss Duncan Gibbs.

LNG with a lower carbon footprint will be favoured by some buyers in the future says BP, which has a stake in Woodside Petroleum’s proposed carbon intensive Browse project.

WA shipbuilder Austal’s quest to build next-generation frigates for the US Navy has received a shot in the arm by the reported withdrawal of a key rival.

Wesfarmers’ fertiliser arm CSBP will pay oil and gas junior Strike Energy $5 million for the option to take gas from its West Erregulla field in the Perth Basin where drilling will start this week.

Carnarvon Petroleum shares have soared after an encouraging report from drilling at the highly prospective Dorado oil field operated by Santos off the North West.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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