05/06/2019 - 06:53

Morning Headlines

05/06/2019 - 06:53

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Morning Headlines

CSIRO hypes hydrogen as a game-changer

The national science agency’s invention of an easily transportable form of hydrogen, combined with Fortescue Metals Group ‘‘stepping up’’ to produce the gas domestically, will combine to form the next major export industry, according to CSIRO chief executive Larry Marshall. The Fin

Banks defy the Treasurer, RBA

The Reserve Bank’s cash rate cut to a historic record low of 1.25 per cent has sparked a fight between politicians and banks over passing it on to their customers that could escalate, with the central bank hinting at further cuts this year if employment and inflation targets were not met. The Fin

Mortgage rates at 60-year lows in competitive market

Mortgage rates are at their lowest since the 1960s, when average weekly wages were $60, a house in Sydney cost $4500, Robert Menzies was prime minister and Australian troops were in Vietnam. The Fin

ASIC spotlight on Sterling First firms

Administrators from Ferrier Hodgson put into 12 companies under the Sterling First umbrella have disclosed that the Australian Securities and Investments Commission had been looking into the group’s activities since last June. The West

Subiaco Hotel up for sale

The Subiaco Hotel — including its landmark building — will be offered for sale for the first time in more than a century as publicans and part-owners Michael and Judy Monaghan prepare to retire. The West

St Barbara investors get exit option

Deutsche Bank will be left to carry the can if shareholders in St Barbara take up the gold miner’s offer to withdraw from a $490 million equity raising. The Fin

No bargains from gold mergers: PwC

Assets put on the market in the wake of this season’s big gold mergers won’t come cheap, according to PwC mining head Chris Dodd, as a new round of consolidation looms in the gold sector. The Aus

 

 

The Australian Financial Review

Page 1: The Reserve Bank’s cash rate cut to a historic record low of 1.25 per cent has sparked a fight between politicians and banks over passing it on to their customers that could escalate, with the central bank hinting at further cuts this year if employment and inflation targets were not met.

Page 3: Suspicion is again falling on China as the culprit behind a massive cyber attack after the theft of confidential personal data of thousands of Australian National University students, graduates and staff.

Page 6: Mortgage rates are at their lowest since the 1960s, when average weekly wages were $60, a house in Sydney cost $4500, Robert Menzies was prime minister and Australian troops were in Vietnam.

Page 8: A record $13.6 billion trade surplus driven by higher iron ore prices has narrowed the current account deficit to just $2.9 billion in the March quarter, the lowest percentage of GDP since 1979.

Page 13: Telstra will axe a quarter of its contractors over the next two years in a ramping up of the massive cost-cutting and simplification program at the centre of chief executive Andy Penn’s make-or-break T22 strategy.

Page 15: Beijing has announced new rules to tighten the sale of overseas infant formula into China while encouraging local companies to buy foreign dairy producers, setting a target to be 60 per cent self-sufficient in the product within three years.

Page 16: The national science agency’s invention of an easily transportable form of hydrogen, combined with Fortescue Metals Group ‘‘stepping up’’ to produce the gas domestically, will combine to form the next major export industry, according to CSIRO chief executive Larry Marshall.

Page 18: Deutsche Bank will be left to carry the can if shareholders in St Barbara take up the gold miner’s offer to withdraw from a $490 million equity raising.

Apartment hotel group Adina, XXXX beer and Virgin Australia are now the most attractive Australian brands to Chinese consumers, in a surprising shift in Chinese appetite that used to favour cosmetics, fast-moving consumer goods and property brands, the latest Australian Brands in China Index 2019 shows.

Page 27: Buy-now, pay-later players are propping up the weak retail sector, with the latest estimate from UBS suggesting the payment channel makes up more than half of online sales for some retailers.

 

 

The Australian

Page 1: Scott Morrison has warned trade conflict between the US and China is testing the global trading system and putting prosperity and the living standards of billions of people at risk, just hours before meeting US President Donald Trump at D-Day commemorations in Britain.

Page 6: The 100-year-old SPC brand and business will live on after Coca-Cola Amatil sold the loss-making Goulburn Valley cannery for about $40 million to private equity group Shepparton Partners Collective.

Page 17: Assets put on the market in the wake of this season’s big gold mergers won’t come cheap, according to PwC mining head Chris Dodd, as a new round of consolidation looms in the gold sector.

Page 18: Could Nine Entertainment be looking to privatise Domain Group — the real estate website that it recently acquired as part of its takeover of Fairfax Media?

Page 19: Qantas has promised cheaper fares and more options on trans-Pacific flights as a result of a long-awaited joint business venture with American Airlines.

Page 20: Arrow Energy, the Queensland joint venture between Shell and PetroChina, has slumped to a $752 million loss amid concerns its $10 billion Surat Basin gas project will miss next year’s deadline for first production.

Rio Tinto has won some respite from its ill-fated foray into Mozambique coal after a US District Court judge dismissed a shareholder lawsuit over the 2011 acquisition of Riversdale Mining.

 

 

The West Australian

Anthony Albanese is optimistic about the Labor Party's future after meeting with his new-look leadership team.

Mental health clinics for children as young as five are being considered by the Federal Government as a way to lower rates of youth suicide.

The Subiaco Hotel — including its landmark building — will be offered for sale for the first time in more than a century as publicans and part-owners Michael and Judy Monaghan prepare to retire.

A third area in rural WA has been declared water deficient as farmers’ dams continue to run dry or reach critically low levels, compounded by the driest January to May period across the agriculture region since records started in 1900.

Administrators from Ferrier Hodgson put into 12 companies under the Sterling First umbrella have disclosed that the Australian Securities and Investments Commission had been looking into the group’s activities since last June.

Breaker Resources boss Tom Sanders has compared the company’s greenfields Bombora discovery to Kalgoorlie’s famous Golden Mile.

The Pastoral Lands Board has put WA’s 450 pastoral stations under the microscope to assess risk and prevent further animal welfare issues from emerging.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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