09/07/2019 - 06:46

Morning Headlines

09/07/2019 - 06:46

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Morning Headlines

$145m decline in house values

WA has the highest proportion of properties selling at a loss anywhere in the country, with homes losing up to $115,000 on their previous purchase price. The West

Hub to test hydrogen as fuel source

Jandakot will play an important role in the emerging hydrogen economy when ATCO next week officially opens its Clean Energy Innovation Hub in the southern suburb. The West

Stick to surplus to keep AAA

S&P Global Ratings has urged the Morrison government to stick to its budget surplus plan to maintain Australia’s AAA credit rating, rejecting calls from some economists to relax budget repair and inject fiscal stimulus into the economy. The Fin

Woodside taking the next step with key LNG projects

Woodside Petroleum’s ambitious plans for the development of its Scarborough and Browse liquefied natural gas projects have taken more steps forward, with the company lodging approval documents with key regulators. The Fin

Coles links with Microsoft in deal to transform grocery

Coles has signed a major alliance with tech giant Microsoft which will enable it to use artificial intelligence and other digital systems to overhaul its supply chain, product range, customer engagement and workforce as the retailer targets $1 billion in savings over four years. The Fin

Hawkins in the frame for online store plan

Former Myer model Jennifer Hawkins could return as the face of a new online department store to challenge Myer and David Jones, according to market speculation. The West

Uber travel to and from work won’t be exempt from FBT

The Australian Tax Office has ruled that using a ride-sharing service such as Uber to take trips between home and work won’t qualify for the fringe benefits tax break that would apply to the same trip using a taxi. The Fin

DP World hit by waterfront strikes

Wharfies have kick-started national strikes at DP World terminals across the country, threatening to shut down the stevedore for a week. The Fin

EnergyAustralia calls for end to policy ‘mess’

EnergyAustralia managing director Catherine Tanna has called for a halt to “random, uncontrolled interventions” in the energy sector that characterised the lead-up to the federal election. The Fin

War on ‘grubby professors’

Predatory staff at three of Perth’s top universities have been sacked or had to resign after they were accused of sexually harassing students or colleagues over the past 18 months. The West

Deutsche kicks off jobs cull

Deutsche Bank began winding down its equities business from Sydney to Mumbai yesterday, a day after the beleaguered German investment bank unveiled a sweeping overhaul of its operations. The West

 

 

The Australian Financial Review

Page 1: S&P Global Ratings has urged the Morrison government to stick to its budget surplus plan to maintain Australia’s AAA credit rating, rejecting calls from some economists to relax budget repair and inject fiscal stimulus into the economy.

Page 2: The Australian Tax Office has ruled that using a ride-sharing service such as Uber to take trips between home and work won’t qualify for the fringe benefits tax break that would apply to the same trip using a taxi.

Page 4: Papua New Guinea’s new government will make a decision within weeks on whether to amend a multibillion-dollar gas agreement involving Oil Search, according to the country’s Petroleum Minister Kerenga Kua.

Page 5: Labor is considering dumping its policy to slug high income earners with a punitive 49 per cent marginal tax rate, as senior Opposition figures say former union leader Bill Kelty is worth listening to following his call for the marginal tax rate to be cut below 40 per cent.

Pensioners face waiting another two months before receiving deeming rate relief despite the Morrison government’s promise of imminent action.

Page 6: Federal Energy Minister Angus Taylor’s promise of wholesale electricity prices falling to $70 per megawatt-hour by 2021 look like a ‘‘pipe dream’’, according to energy experts.

Page 7: Wharfies have kick-started national strikes at DP World terminals across the country, threatening to shut down the stevedore for a week.

Page 11: EnergyAustralia managing director Catherine Tanna has called for a halt to “random, uncontrolled interventions” in the energy sector that characterised the lead-up to the federal election.

A top Chinese steel official has queried Australia’s weak iron ore export performance in 2019 and warned Australian miners they should share steel mills’ concerns about high commodity prices.

Page 15: The Australian Securities and Investments Commission has dismissed suggestions it has softened its approach to responsible lending in response to industry and government pressure, insisting it never intended to add additional standards to its responsible lending rules.

Page 19: Coles has signed a major alliance with tech giant Microsoft which will enable it to use artificial intelligence and other digital systems to overhaul its supply chain, product range, customer engagement and workforce as the retailer targets $1 billion in savings over four years.

 

 

The Australian

Page 1: Josh Frydenberg has repudiated calls for the government to provide further fiscal stimulus to the economy, declaring it would put the surplus at risk and represent a major misreading of the Reserve Bank’s calls for action to help boost growth.

Page 3: Australians are being warned not to trust dodgy medical advice from Facebook and YouTube as former cancer patient Nikhil Autar declared bad advice almost killed him.

Page 4: A multimillion-dollar national strategy to boost science, technology and maths capabilities among Australian students is being undermined by a lack of data on the effectiveness of the STEM programs targeted at schools.

Page 6: Deep enmity over alcohol restrictions in the big-drinking Pilbara have split the community and escalated into a war on the local council, which could be sacked by the West Australian Labor government as early as today.

Page 8: Donald Trump has hit the highest approval rating of his presidency amid a flurry of strong economic news, with robust jobs growth and rising wages boosting his prospects of re-election.

Page 17: A jump in bond yields and fall in the iron ore price wiped $24 billion off the stockmarket yesterday, as shares snapped a five-day winning streak to finish the session firmly lower.

Page 19: Government intervention in the east coast’s gas sector through a reservation policy could slash $270 from annual household power bills, under modelling sent to the Coalition by the Centre Alliance as part of a major energy reform package.

Page 20: Iron ore futures rallied yesterday as traders discounted a push by Chinese steelmakers to force a government inquiry into high iron ore prices, belying the fall in iron ore producer stocks on the Australian market.

Woodside Petroleum’s ambitious plans for the development of its Scarborough and Browse liquefied natural gas projects have taken more steps forward, with the company lodging approval documents with key regulators.

 

 

The West Australian

Page 3: WA has the highest proportion of properties selling at a loss anywhere in the country, with homes losing up to $115,000 on their previous purchase price.

Page 6: The Coalition is facing internal divisions over the religious discrimination Bill, with some MPs threatening to cross the floor or abstain from the vote if the legislation does not go far enough to protect the rights of people of faith.

Page 8: Predatory staff at three of Perth’s top universities have been sacked or had to resign after they were accused of sexually harassing students or colleagues over the past 18 months.

Page 10: Perth Uber users will be able to share their rides and their costs by the end of this month with the launch of carpooling service UberPool.

Business: Former Myer model Jennifer Hawkins could return as the face of a new online department store to challenge Myer and David Jones, according to market speculation.

One of the world’s biggest investment banks, Morgan Stanley, has cut its global equities allocation to the lowest in five years, and downgraded its investment recommendation to underweight, saying the outlook for stocks over the next three months looks particularly poor.

The State Government has all but ruled out extending royalty relief to two Chinese-owned magnetite iron ore operations in WA beyond the end of the year.

Jandakot will play an important role in the emerging hydrogen economy when ATCO next week officially opens its Clean Energy Innovation Hub in the southern suburb.

Deutsche Bank began winding down its equities business from Sydney to Mumbai yesterday, a day after the beleaguered German investment bank unveiled a sweeping overhaul of its operations.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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