21/06/2019 - 06:33

Morning Headlines

21/06/2019 - 06:33

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Morning Headlines

Browse delays loom as a test for Canavan

Federal Resources Minister Matt Canavan’s threat to invoke “use it or lose it” provisions over the Browse gas fields could be tested next year amid doubts Woodside and its partners can meet investment decisions around its development and as Fortescue Metals Group confirms its interest as an alternative player. The Aus

End of the iron ore golden run as export volumes slump

Annual exports from Australia’s big iron ore triumvirate will fall for the first time in history, as analysts declared iron ore prices had passed their peak for the year on the back of a Brazilian mine restart. The Fin

Former foreign minister’s new job helping kids with Telethon institute

After months of speculation about her life post-politics, The West Australian can reveal former foreign minister and WA Liberal MP Julie Bishop’s first new gig. Ms Bishop is announced today as the new chairwoman of the Telethon Kids Institute, one of Australia’s biggest child health research hubs, which is based in Perth. The West

Billions at risk in gas price review

Billions of dollars of Australian commodity export revenues are at risk over the next two years as LNG sales contracts come up for price review just as a slump in LNG spot prices is adding to pressure to cut contract tariffs, says Credit Suisse’s head of energy research. The Fin

Woolies, pub baron in talks on ALH future

Negotiations are said to have been reignited between Woolworths and publican Bruce Mathieson over the future of the $3.5 billion ALH pubs and liquor business and some suggest a demerger or sale of the business could be imminent. The Aus

Qantas loses points with business flyers

Qantas stands to lose a share of the lucrative business frequent flyer market after the airline jacked up the number of points needed to redeem seats at the pointy end of the plane by up to 15 per cent. The Fin

How a China slowdown would affect Australia

The Reserve Bank of Australia says a 5 per cent drop in Chinese growth would depress Australian economic growth by 2.5 per cent over three years, with commodity prices and equity prices taking a hit. The Fin

Brockman thorn in Rio’s side

Rio has been forced to downgrade its iron ore shipping forecasts for the second time in as many months, citing operational problems at its Greater Brockman Hub operations. The West

Party is over as Bernardi prepares to exit stage right

The Liberal Party will consolidate its stronghold in the Senate with the expected departure within months of Australian Conservatives senator and former Liberal Cory Bernardi. The Fin

Probe Israel: cattle council

Australia’s peak cattle advocacy group has joined the RSPCA in calling for the Federal regulator to formally investigate alleged mistreatment of Australian livestock at an Israeli port this month. The West

 

 

The Australian Financial Review

Page 1: The controversial Narrabri coal seam gas project in NSW is on track to be approved before the end of the year in a move gas company Santos says will take the heat off domestic gas prices.

Page 2: The Liberal Party will consolidate its stronghold in the Senate with the expected departure within months of Australian Conservatives senator and former Liberal Cory Bernardi.

Page 3: The corporate regulator’s shrink will be on the lookout for groupthink and domineering behaviour in the boardroom, former banking regulator John Laker warns.

Page 4: The Reserve Bank of Australia says a 5 per cent drop in Chinese growth would depress Australian economic growth by 2.5 per cent over three years, with commodity prices and equity prices taking a hit.

Page 5: Qantas stands to lose a share of the lucrative business frequent flyer market after the airline jacked up the number of points needed to redeem seats at the pointy end of the plane by up to 15 per cent.

Page 7: The resignation of John Setka’s deputy over ‘‘irreconcilable differences’’ with the embattled union leader may have led to the end of a key Labor faction, according to union and Labor sources.

Page 8: Sluggish wage and productivity growth is being exacerbated by Australian businesses falling behind global peers in embracing disruptive technologies, according to a top government economist.

Page 10: The federal government is ‘‘morally’’ obliged to improve the superannuation system ahead of a legislated increase in the super guarantee to 12 per cent, Assistant Minister for Superannuation Jane Hume said.

Page 17: Caltex investors are losing confidence in a forecast revival of fortunes at the fuels supplier after advice that retailing profits will roughly halve this June half year, while the refinery will barely break even.

Annual exports from Australia’s big iron ore triumvirate will fall for the first time in history, as analysts declared iron ore prices had passed their peak for the year on the back of a Brazilian mine restart.

Page 20: Facebook’s proposed cryptocurrency Libra will present a juicy target for organised criminals, according to global cyber security experts, forcing the social network and its new partners to invest billions in defences to protect users’ money and convince regulators the network can be trusted.

Page 22 Lynas boss Amanda Lacaze says the United States and rest of the Western world have been left badly exposed by their reliance on rare earths materials from China, which is moving towards an export freeze on all but value-added products.

Page 23: Billions of dollars of Australian commodity export revenues are at risk over the next two years as LNG sales contracts come up for price review just as a slump in LNG spot prices is adding to pressure to cut contract tariffs, says Credit Suisse’s head of energy research.

 

 

The Australian

Page 1: Anthony Albanese is under increasing pressure from his frontbench to wave through the government’s entire $158 billion personal income tax package, as a post-election internal war looms over Labor’s economic policy agenda.

Page 2: Reserve Bank governor Philip Lowe has declared lower interest rates alone won’t be enough to drive down the jobless rate and called on politicians to drive “structural” reforms which would encourage businesses to expand and invest in their own workforces.

Page 3: Qantas is banking on a $25 million overhaul of its frequent flyer program to foster more loyalty among passengers and keep top-tier customers from trying other airlines.

Page 4: Home Affairs Minister Peter Dutton has warned that “advocate doctors” are calling the shots and people of bad character have been transferred to Australia for medical treatment under the controversial medivac bill, as Labor and key crossbenchers open the door to “tightening” the legislation.

Page 6: Potentially harmful noise from wind farms can be detected up to 3.5km from the nearest turbine and is present for 16 per cent of the time, a study has found.

Page 19: Australian energy producers have slammed a move by the Coalition to consider domestic gas reservation, arguing the interventionist measure would fail to lower prices for local users and significantly hike the nation’s sovereign risk profile.

Page 20: Negotiations are said to have been reignited between Woolworths and publican Bruce Mathieson over the future of the $3.5 billion ALH pubs and liquor business and some suggest a demerger or sale of the business could be imminent.

Page 21: Sports betting in Australia is growing, with young punters turning to their favourite sporting codes to gamble.

Page 22: Federal Resources Minister Matt Canavan’s threat to invoke “use it or lose it” provisions over the Browse gas fields could be tested next year amid doubts Woodside and its partners can meet investment decisions around its development and as Fortescue Metals Group confirms its interest as an alternative player.

Page 23: Financial Services Minister Jane Hume says regulators and consumers are likely to be cautious about Facebook’s plans to launch a digital currency in light of multiple privacy breaches by the social media giant.

 

 

The West Australian

Page 5: After months of speculation about her life post-politics, The West Australian can reveal former foreign minister and WA Liberal MP Julie Bishop’s first new gig. Ms Bishop is announced today as the new chairwoman of the Telethon Kids Institute, one of Australia’s biggest child health research hubs, which is based in Perth.

Page 10: Agriculture Minister Alannah Mac-Tiernan has come under fire for $4907 in travel costs incurred by the taxpayer for one day of meetings in Qatar.

Page 14: Federal Labor MPs have voiced their support for Scott Morrison’s tax cuts, arguing if the ALP blocks the package it could be as bad for the party as when Kim Beazley voted against the Howard government’s tax relief in 2005.

Page 24: Parents of Catholic school students are being urged to watch their bank accounts for suspicious transactions after cyber attackers hacked into the digital infrastructure of a Geraldton school last week and stole a “large amount of data”.

Business: Firefighters from as far as Fremantle spent almost three hours battling a fire at Griffin Coal’s Ewington mine site in Collie early yesterday.

Western nations have been on the “heroin-drip” of cheap components for a long time, which had left them exposed, according to Lynas Corporation boss Amanda Lacaze.

Australia’s peak cattle advocacy group has joined the RSPCA in calling for the Federal regulator to formally investigate alleged mistreatment of Australian livestock at an Israeli port this month.

Rio has been forced to downgrade its iron ore shipping forecasts for the second time in as many months, citing operational problems at its Greater Brockman Hub operations.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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