10/07/2019 - 05:54

Morning Headlines

10/07/2019 - 05:54

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High-level support for Woodside on LNG

Woodside Petroleum’s efforts to get its reluctant partners to back its ambitious plans for the large Scarborough and Browse gas projects in Western Australia are getting a leg-up from regulators and government, with the threat that licences over the offshore fields may not be renewed unless decisive steps are taken towards development. The Fin

Jobs growth proves good for business

Business conditions have rebounded following the federal election and the first of two recent interest rate cuts, with improvements in employment and trading conditions in June. The Fin

Premier firm on WA’s reserve gas supplies

Premier Mark McGowan says if the Federal Government wants a share of WA’s gas supplies it won’t come out of the 15 per cent of reserves set aside for the State domestic market. The West

Woolworths urged to get expert view of drinks, pubs spin-off

Woolworths chief Brad Banducci faces pressure to have the $10 billion demerger of Endeavour Drinks and ALH Group independently assessed before shareholders vote on the first stage of the restructure later this year. The Fin

Big four in great rate cuts rip-off

The major banks have been squeezing households by withholding the equivalent of eight separate rate cuts since the global financial crisis, leaving average mortgage interest rates nearly four percentage points higher than the Reserve Bank’s cash rate. The Aus

Signs that wage rise pick-up is under way

Wage growth appears to be picking up for the low paid, with banks, retail and fast-food giants promising higher pay increases for most workers in new enterprise agreements. The Fin

Average workers lose $30,000 in super rise

Lifting the superannuation guarantee to 12 per cent will make middle-income earners poorer, reducing lifetime incomes by 1 per cent or $30,000, the Grattan Institute claims. The Fin

Coles tech keeps a sharp AI on supply

Video cameras monitoring shelves for stock, and a computer program that adjusts ordering based on community events and the weather are part of a shopping future being rolled out by Coles. The West

Talk to us, not at us: Wyatt

Indigenous Affairs Minister Ken Wyatt says governments need to stop talking at indigenous people and making decisions without their input. The West

Window into 7-Eleven reveals windfall

Profits are surging at the country’s largest convenience store, 7-Eleven, and its billionaire owners are receiving huge dividends as the business continues its recovery from its 2015 wages scandal. The Aus

 

 

The Australian Financial Review

Page 1: Hong Kong faces more political turmoil after leader Carrie Lam declared controversial extradition laws ‘‘dead’’ in a humiliating backdown but refused to formally withdraw the bill, leaving one of Asia’s most important financial centres vulnerable to a second month of disruption.

Wage growth appears to be picking up for the low paid, with banks, retail and fast-food giants promising higher pay increases for most workers in new enterprise agreements.

Page 4: Business conditions have rebounded following the federal election and the first of two recent interest rate cuts, with improvements in employment and trading conditions in June.

Page 6: China's top defence official has declared an intention to militarise the controversial Belt and Road Initiative to strengthen ties with South Pacific nations in what analysts warn is a significant challenge to Australia's strategic environment.

The Australian Securities and Investments Commission has used controversial data retention laws 5000 times to investigate cases of insider trading, market manipulation and fraud, new figures show.

Page 7: Lifting the superannuation guarantee to 12 per cent will make middle-income earners poorer, reducing lifetime incomes by 1 per cent or $30,000, the Grattan Institute claims.

Page 9: Impatience is building among state energy ministers over the ongoing failure of federal Energy Minister Angus Taylor to call a meeting to tackle the national policy vacuum on long-term energy and emissions settings that is driving state authorities to forge ahead with their own measures.

Page 15: Woolworths chief Brad Banducci faces pressure to have the $10 billion demerger of Endeavour Drinks and ALH Group independently assessed before shareholders vote on the first stage of the restructure later this year.

Page 18: Banking giant Westpac says the federal government must play a role in developing a price on carbon if the financial risks of climate change are to be understood and mitigated.

Page 20: Woodside Petroleum’s efforts to get its reluctant partners to back its ambitious plans for the large Scarborough and Browse gas projects in Western Australia are getting a leg-up from regulators and government, with the threat that licences over the offshore fields may not be renewed unless decisive steps are taken towards development.

 

 

The Australian

Page 1: The major banks have been squeezing households by withholding the equivalent of eight separate rate cuts since the global financial crisis, leaving average mortgage interest rates nearly four percentage points higher than the Reserve Bank’s cash rate.

Page 4: China will be using its growing array of spy satellites to record visual images of US and Australian ships and fighter planes as they conduct mock military exercises off the Queensland coast.

Page 6: Business leaders have urged the Morrison government to stick to putting the budget back in black but are open to increased spending in some areas, as Josh Frydenberg warns that a “non-negotiable” surplus is critical to maintaining Australia’s AAA credit rating.

Page 7: The Pilbara council that tore itself apart over how to deal with drunken violence in the prosperous iron ore region was fired by the McGowan Labor government yesterday, as bottleshop owners prepare for a confusing patchwork of restrictions across the region.

Page 17: Profits are surging at the country’s largest convenience store, 7-Eleven, and its billionaire owners are receiving huge dividends as the business continues its recovery from its 2015 wages scandal.

Page 18: Australian private equity firm Pacific Equity Partners is on track to secure $2.5 billion from its investors for its latest fund, which is close to being finalised.

Fresh from striking a deal to buy North West Ag Services, rural services provider Delta Agribusiness is believed to be eager to embark on further acquisitions and could be targeting Ruralco assets as part of its expansion plans.

Page 27: International students say post-study work rights do not provide them with any substantial competitive advantage in the labour market but the visas do “buy time” and are seen as a legitimate pathway to permanent residency, a new survey has found.

 

 

The West Australian

Page 3: Seven more people have died from the flu in the past week in WA, lifting the toll to 48 lives lost in a shocking start to the influenza season.

Page 4: Attorney-General Christian Porter has issued a stern warning to colleagues who claim he is not religious enough to understand the importance of safeguarding religious freedoms, declaring that while he does believe in God, that should have nothing to do with his ability to create legislation.

Indigenous Affairs Minister Ken Wyatt says governments need to stop talking at indigenous people and making decisions without their input.

Page 5: Shameless business owners are adding to high levels of youth unemployment by handing jobs to cheap foreign workers — who they have no qualms about bullying and cheating out of wages — over young West Australians.

Page 7: University debts have soared to record levels and more people are being forced to repay loans sooner.

Business: Video cameras monitoring shelves for stock, and a computer program that adjusts ordering based on community events and the weather are part of a shopping future being rolled out by Coles.

Independence Group has again underlined its belief that there are more discoveries to be made in the Fraser Range with a three-way farm-in deal with WA’s uber prospector Mark Creasy and Legend Mining.

Premier Mark McGowan says if the Federal Government wants a share of WA’s gas supplies it won’t come out of the 15 per cent of reserves set aside for the State domestic market.

The State Government has set up an online register to help companies access State or Commonwealth funding for future battery initiatives.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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