02/07/2019 - 06:52

Morning Headlines

02/07/2019 - 06:52

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Iron ore higher for longer

Australia’s iron ore exports are set to post the first annual fall in almost two decades after bad weather and output setbacks, worsening a global shortage and bolstering prices that have already surged to a five-year high. The West

Iluka plots move into rare earths

Mineral sands giant Iluka Resources is quietly planning a low-key entry into the rare earths market after winning permission from the West Australian government to export a concentrate carrying rare earth ore from its mothballed Eneabba mine. The Aus

Bishop joins Palladium board

Julie Bishop is beginning her post-politics, private sector career with a board appointment to the giant global impact investing and consultancy group, Palladium. The Fin

Roy Hill bound for record profit despite volume miss

Gina Rinehart’s Roy Hill is on track for record profits after a 4 per cent surge in volumes, but the iron ore miner’s long-held export goal remains elusive. The Fin

Banks slam crackdown on lending

The big four banks have attacked the corporate regulator’s responsible lending proposals as impractical, anticompetitive and potentially damaging to the economy in a series of defensive submissions. The Fin

Cruising for a WA tourism bonanza

Port cities in WA are poised for a lucrative summer tourist season, with Cruise and Maritime Voyages Australia more than doubling the size of the luxury ship it will base out of Fremantle next year. The West

EY’s top bosses hold secret talks over Pyne’s job

Senior EY officers held secret talks over the weekend about the controversy around the hiring of former defence minister Christopher Pyne, while yesterday Labor and key crossbench senators moved to offer support for a parliamentary inquiry into the role. The Fin

LNG climate impact ‘worse than coal’

The latest research from an anti-fossil fuel advocacy group has identified LNG as no better, and potentially worse, than coal in contributing to climate change and casts more doubt on investor support for the next wave of oil and gas projects in Australia. The Fin

End of an error as Gindalbie mulls bid

If Gindalbie Metals directors get their way, tomorrow’s shareholder meeting to vote on a proposal by China’s Ansteel to buy out the company will close the book on one of the mining boom’s major stock exchange disasters. The Aus

Labor plan ‘pointless’

Labor has been accused of playing games over the Federal Government’s $160 billion tax cuts package after the party yesterday said it would persist in trying to make Prime Minister Scott Morrison split up the plan when it is voted on this week. The West

 

 

The Australian Financial Review

Page 1: The big four banks have attacked the corporate regulator’s responsible lending proposals as impractical, anticompetitive and potentially damaging to the economy in a series of defensive submissions.

Page 2: Julie Bishop is beginning her post-politics, private sector career with a board appointment to the giant global impact investing and consultancy group, Palladium.

Page 3: Paladin’s refugee services contract on Manus Island has been extended by six months in a deal that could be worth around $100 million to the controversial security company.

Page 4: The Morrison government will be forced to wait and see what Donald Trump includes on his China trade shopping list before assessing the potential damage from Beijing’s agreement to buy a ‘‘tremendous amount’’ of American agricultural products.

Page 5: Senior EY officers held secret talks over the weekend about the controversy around the hiring of former defence minister Christopher Pyne, while yesterday Labor and key crossbench senators moved to offer support for a parliamentary inquiry into the role.

Page 9: The imminent passage of personal income tax relief and further interest rate cuts will help jump-start the sluggish economy, as consumers used the income boost to lift spending before Christmas, economists said.

Page 10: Developers forced to rent unsold apartments to generate cash flow in weak markets are being targeted by the Australian Taxation Office in audits for unearned GST credits, according to leading accounting firms and GST specialists.

Page 13: Australia’s banks would have to raise at least $NZ20 billion ($19.1 billion) to satisfy New Zealand capital requirements, leading the big four to threaten a rethink of their business models if the proposals get the green light.

Gina Rinehart’s Roy Hill is on track for record profits after a 4 per cent surge in volumes, but the iron ore miner’s long-held export goal remains elusive.

Page 18: The latest research from an anti-fossil fuel advocacy group has identified LNG as no better, and potentially worse, than coal in contributing to climate change and casts more doubt on investor support for the next wave of oil and gas projects in Australia.

Page 19: Facebook isn’t actually trying to block regulation of the internet industry, despite its lobbying the ACCC not to pursue laws that would regulate the algorithms that decide who sees what news in Facebook feeds, a senior Facebook executive says.

 

 

The Australian

Page 1: New US ambassador Arthur Culvahouse has called on Australia to play “a great power leadership role” in the Pacific, saying he expects Scott Morrison will increasingly call out “malign influences” in the region as China increases pressure on vulnerable nations through its Belt and Road Initiative.

Page 4: New Governor-General David Hurley declared Australia was “not a finished product” as he vowed to put community engagement on par with his constitutional duties in his role as the Queen’s representative.

Page 5: Companies that sponsor the Australian Rugby Union could be required to pay unlimited compensation to Israel Folau if they are found to be accessories to any breach by Rugby Australia of his rights under the Fair Work Act.

Page 7: Reports of a poor safety culture at Regional Express airline took such a toll on the company’s share price yesterday that trading was paused to deliver a statement condemning the allegations and accusing Australia’s civil aviation regulator of leaking the claims.

Page 17: NSW, Victoria, Queensland and South Australia may fail to meet ambitious renewable targets in the next decade, as uncertainty over solar and wind investment threatens to derail a planned transition to a cleaner power supply.

Mineral sands giant Iluka Resources is quietly planning a low-key entry into the rare earths market after winning permission from the West Australian government to export a concentrate carrying rare earth ore from its mothballed Eneabba mine.

Page 19: Afterpay Touch’s business model is expected to come under increasing regulatory scrutiny as its rapid growth establishes the buy-now-pay-later provider as a larger part of the payments system.

Page 20: If Gindalbie Metals directors get their way, tomorrow’s shareholder meeting to vote on a proposal by China’s Ansteel to buy out the company will close the book on one of the mining boom’s major stock exchange disasters.

 

 

The West Australian

Page 3: Julian Dowse, who was head of Peter Moyes Anglican Community School in Mindarie for eight years, said managing parents’ expectations amid a constant barrage of social media was one of the biggest problems facing school leaders.

Page 4: Labor has been accused of playing games over the Federal Government’s $160 billion tax cuts package after the party yesterday said it would persist in trying to make Prime Minister Scott Morrison split up the plan when it is voted on this week.

Page 11: Port cities in WA are poised for a lucrative summer tourist season, with Cruise and Maritime Voyages Australia more than doubling the size of the luxury ship it will base out of Fremantle next year.

Business: Australia’s iron ore exports are set to post the first annual fall in almost two decades after bad weather and output setbacks, worsening a global shortage and bolstering prices that have already surged to a five-year high.

The rare and pricey pink diamonds from the Kimberley’s Argyle mine are about to get a whole lot more expensive, according to world-renowned Aussie jeweller and gemmologist John Calleija.

A Kalgoorlie-Boulder organic produce organisation has experienced participation growth of more than 100 per cent in the past year, as more local families make the switch to sustainable living.

Sheffield ResourcesThunderbird mineral sands project in the Kimberley is closer to a final investment decision this year after it secured offtake for all the ilmenite production from its recently scaled-down first stage.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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