12/06/2019 - 06:55

Morning Headlines

12/06/2019 - 06:55

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Morning Headlines

Kibaran keen on Kwinana for plant

Kibaran Resources has flagged plans for a $US23 million ($33 million) graphite-processing plant at Kwinana representing another lift to the area’s growing reputation as Australia’s Lithium Valley. The West

Commodity House wins big in Kidman deal

Kidman Resources managing director Martin Donohue says he ceased involvement with the sixth-biggest shareholder in Kidman before it started building a stake in the lithium aspirant that is now worth more than $15 million. The Fin

Wellard falls on debt call

Shares in live exporter Wellard have plunged after it revealed a default had triggered a hike in repayments on its debt of $15 million. The West

ASX surges on bets for stimulus

The ASX blew past an 11-year high yesterday, confirming Australia’s position as one of the top performing sharemarkets in 2019 as investors bet Reserve Bank of Australia rate cuts and fiscal stimulus will bolster economic growth and boost company profits. The Fin

Technology won’t take your job: Deloitte report

Fears that new technology will lower our wages, take our jobs and force us into the so-called gig economy are ‘‘entirely misplaced’’, according to a new report from Deloitte Access Economics. The Fin

Cash raised after probe

Failed lifetime lease group Sterling First raised at least $8 million from cash-strapped older West Australians after coming under scrutiny by the Federal corporate watchdog in mid-2017. The West

Savers to be slugged $1.3b by rate cut

Savers collectively will be $1.3 billion worse off if banks pass on the full 25 basis point cut to at-call cash accounts – and face even more pain as economists forecast further cuts by the end of the year. The Fin

Afterpay execs cash out $100m

Afterpay’s chief executive, chairman and group head have cashed out more than $100 million worth of shares as institutional shareholders picked up all the shares on offer as part of a $330 million capital raising. The Fin

Qantas lifts its share as travel numbers fall

Qantas has grabbed its biggest slice of the international travel market in six years at the same time fewer people took an overseas flight. The Aus

 

 

The Australian Financial Review

Page 1: The ASX blew past an 11-year high yesterday, confirming Australia’s position as one of the top performing sharemarkets in 2019 as investors bet Reserve Bank of Australia rate cuts and fiscal stimulus will bolster economic growth and boost company profits.

Page 2: Fears that new technology will lower our wages, take our jobs and force us into the so-called gig economy are ‘‘entirely misplaced’’, according to a new report from Deloitte Access Economics.

Page 5: The proliferation of government financing vehicles under the Coalition to fund small business and other sectors has been criticised by the Productivity Commission for risking taxpayer funds and potentially helping special interests who lobbied for the support.

Page 6: Savers collectively will be $1.3 billion worse off if banks pass on the full 25 basis point cut to at-call cash accounts – and face even more pain as economists forecast further cuts by the end of the year.

Page 7: Business conditions have deteriorated, with declines in both forward orders and profitability according to the latest NAB Business Survey, but economists cautioned not to read too much into the result given the proximity to the federal election.

Page 8: Travellers will be able to step onto a Melbourne CBD rooftop and book a 10-minute, ride-sharing flight to the airport for less than $100, after Uber Air announced it will be the first international city to trial the service.

Page 15: Afterpay’s chief executive, chairman and group head have cashed out more than $100 million worth of shares as institutional shareholders picked up all the shares on offer as part of a $330 million capital raising.

AGL chief executive Brett Redman is under pressure to explain why the electricity giant is offering to pay $3 billion for troubled telecommunications company Vocus Group, with one investor labelling the play ‘‘desperate’’.

Page 17: Kidman Resources managing director Martin Donohue says he ceased involvement with the sixth-biggest shareholder in Kidman before it started building a stake in the lithium aspirant that is now worth more than $15 million.

Page 20: Woodside Petroleum can take solace from soft LNG spot prices after revealing it will have to buy gas from other producers to supply customers because of a false restart at its Pluto plant near Karratha on the West Australian coast.

 

 

The Australian

Page 1: The nation’s most powerful bureaucrats have described the public service as “slow”, “reactive” and “siloed” and describe cabinet ministers as obstructive, disengaged and lacking an interest in making government departments and agencies more productive.

Page 2: Scott Morrison is consulting editors and senior media executives about establishing a press freedom inquiry, amid calls from Labor to create a powerful parliamentary committee spanning both chambers to review national security laws after last week’s raids on a News Corp Australia journalist and the ABC.

Page 3: Google took in $US4.7 billion in revenue last year from “crawling and scraping” news websites without paying publishers, an industry-sponsored study found.

Page 4: Australia must enter a formal defence alliance with Japan as part of a larger strategic push into Southeast Asia that would allow the military to fight a potential Chinese adversary as far from Australia’s shores as possible.

The US has warned Australia to brace for a new drugs crisis fuelled by a flood of cheap Chinese-made opioids entering the country by post.

Page 8: An Indonesian corruption court has jailed the country’s first female chief executive of state oil and gas company Pertamina for eight years over the loss-making 2009 acquisition of a 10 per cent stake in Australian oil and gas block Basker Manta Gummy.

Page 17: Queensland yesterday joined Labor governments in Victoria and WA in hitting up the resources sector to plug holes in the state budget, lifting petroleum royalties by 2.5 percentage points to 12.5 per cent.

Page 19: Qantas has grabbed its biggest slice of the international travel market in six years at the same time fewer people took an overseas flight.

 

 

The West Australian

Page 3: WA is preparing to engage in national horseracing’s bitter multimillion-dollar battle between States to lure the best gallopers from Australia and beyond.

Page 4: Michael Chaney, the chairman of Wesfarmers, which owns Bunnings, Kmart and Target, said small businesses were struggling under WA’s payroll tax burden and it was dampening the economy.

The State Government has incensed the WA Police Union after refusing to budge in their pay fight as Labor struggles to prevent the dam bursting on wider wage increases for the rest of the public sector.

Page 5: Senior WA Liberals are refusing to comment on suggestions Mike Nahan is preparing to quit as Opposition Leader this week as Dr Nahan insists to colleagues he is staying put.

Page 8: Defence Minister Linda Reynolds says Australia is reviewing how it handles the entry of foreign ships into Australian waters after the unexpected arrival of Chinese warships in Sydney Harbour last week.

Page 12: Failed lifetime lease group Sterling First raised at least $8 million from cash-strapped older West Australians after coming under scrutiny by the Federal corporate watchdog in mid-2017.

Page 16: WA’s lamb market has climbed to record highs, with farmers fetching an almost 100 per cent increase on prices in the past year.

Business: Shares in live exporter Wellard have plunged after it revealed a default had triggered a hike in repayments on its debt of $15 million.

WA is to get its own Defence Science Centre, which will boost the State’s capability and maximise local defence-related research and development opportunities.

Kibaran Resources has flagged plans for a $US23 million ($33 million) graphite-processing plant at Kwinana representing another lift to the area’s growing reputation as Australia’s Lithium Valley.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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