17/07/2019 - 06:51

Morning Headlines

17/07/2019 - 06:51

Bookmark

Save articles for future reference.

Shell boss presses PM over carbon price

Shell chief executive Ben van Beurden has called on Scott Morrison to work with his company on a carbon scheme targeting Australia’s growing LNG emissions, as it weighs a decision on the long-stalled $US20.5 billion ($29bn) Browse gas project. The Aus

Leaking dam delays lithium mine expansion

Mineral Resources has been blocked from starting the commissioning of the next stage of its $600 million Wodgina lithium mine in Western Australia after regulators found that a tailings dam at the project was seeping into groundwater. The Aus

APRA drops the ball on super

The Australian Prudential Regulation Authority’s policing of the $2.8 trillion pool of superannuation needs a major overhaul following a comprehensive review that found member returns were taking a ‘‘back seat’’ to issues the regulator was more comfortable with. The Fin

Super raids to pay for fat surgery

Australians are tapping their superannuation to pay for healthcare at an unprecedented rate, with more than 30,000 requests approved last financial year — twice as many as two years ago — mostly for weight-loss surgery and IVF. The Aus

Rate cut won’t fuel household debt, says RBA

The Reserve Bank has played down fears of rising household debt levels following its decision to cut interest rates a second time to a record low 1 per cent, and the central bank’s latest minutes suggest that ‘‘unwelcome borrowing’’ is unlikely. The Fin

Pilgangoora lithium mine sale still in limbo

The sales process for Pilbara Minerals’ Pilgangoora mining project could be on the go-slow, according to sources, and some are wondering whether it will live up to the success of the lithium asset deal struck earlier this year by rival Mineral Resources. The Aus

Goldfields leaders’ tax U-turn

Kalgoorlie’s leaders have opened the door to an explosive backflip, easing their hardline anti-gold tax stance and slamming mining companies for ignoring the local community that backed their bid to kill off a royalty hike. The West

Concerns over misuse of Libra

US Treasury Secretary Steve Mnuchin says he is concerned that Facebook’s proposed Libra cryptocurrency could be misused for money laundering, adding to the growing regulatory scepticism of the social media company’s digital asset plans. The Fin

Mint boss says Trump debts fuel gold’s rise

Perth Mint boss Richard Hayes says the rise in US sovereign debt under Donald Trump has been a big but largely overlooked factor in surging gold prices, which have added a lot of lustre to ASX-listed mining stocks. The Fin

Woolies draws up hitlist for Big W closures

Woolworths could announce as early as this week which Big W stores it plans to close first, as part of its attempts to resurrect profits at the loss-making retailer by slashing its store network. The Aus

 

 

The Australian Financial Review

Page 1: The Australian Prudential Regulation Authority’s policing of the $2.8 trillion pool of superannuation needs a major overhaul following a comprehensive review that found member returns were taking a ‘‘back seat’’ to issues the regulator was more comfortable with.

Shell’s global chief executive Ben van Beurden has declared that a global carbon price of about $US250 a tonne and ‘‘tens of thousands’’ of carbon capture and storage plants would be needed for the world to keep within the 2 degree warming goal.

Page 3: Clive Palmer faked entries in a green notebook to justify siphoning millions of dollars from Queensland Nickel to his other business and political interests, a court has heard.

Page 4: With a report diagnosing the nation’s health coverage system as muddled and unfair, insurer nib’s chief executive Mark Fitzgibbon has called for compulsory private cover for all but the poorest Australians.

Page 5: The Reserve Bank has played down fears of rising household debt levels following its decision to cut interest rates a second time to a record low 1 per cent, and the central bank’s latest minutes suggest that ‘‘unwelcome borrowing’’ is unlikely.

Page 8: Defence Minister Linda Reynolds has reminded her French counterpart to ensure Australian industry involvement in building the next fleet of submarines is maximised, amid lingering concerns France is trying to lock in work for its local suppliers.

Page 9: A government review into whether former defence minister Christopher Pyne has breached ministerial standards by taking a job with consultancy EY is expected to report back before parliament sits next week, according to Senate crossbench powerbroker Rex Patrick.

Page 11: US Treasury Secretary Steve Mnuchin says he is concerned that Facebook’s proposed Libra cryptocurrency could be misused for money laundering, adding to the growing regulatory scepticism of the social media company’s digital asset plans.

Page 13: Rio Tinto and its partners are exploring ways to remove a $US6 billion cap on debt attached to the Oyu Tolgoi copper project, amid fears the project could cost $US1.9 billion ($2.7 billion) more than planned.

Page 15: Vodafone will refund customers who complained about being charged for online games, apps and ringtones on their phone accounts after acknowledging it breached securities and investment laws.

Perth Mint boss Richard Hayes says the rise in US sovereign debt under Donald Trump has been a big but largely overlooked factor in surging gold prices, which have added a lot of lustre to ASX-listed mining stocks.

 

 

The Australian

Page 1: Australians are tapping their superannuation to pay for healthcare at an unprecedented rate, with more than 30,000 requests approved last financial year — twice as many as two years ago — mostly for weight-loss surgery and IVF.

Page 5: Celebrated cook Maggie Beer has demanded action to improve the care of some of the most vulnerable Australians, decrying the fact that some aged-care centres spend as little as $7 a day on food for residents.

One Nation leader Pauline Hanson will push to establish a parliamentary inquiry spanning both houses into the family law system, child support, legal fees, children’s rights and domestic violence as she voices concerns about the Morrison government’s sweeping restructure of the courts.

Page 7: Governments are embarking on mental health inquiries, and promising to respond to rising suicide rates, despite not having the data to show the full extent of the problem.

Page 17: Shell chief executive Ben van Beurden has called on Scott Morrison to work with his company on a carbon scheme targeting Australia’s growing LNG emissions, as it weighs a decision on the long-stalled $US20.5 billion ($29bn) Browse gas project.

Page 18: The sales process for Pilbara MineralsPilgangoora mining project could be on the go-slow, according to sources, and some are wondering whether it will live up to the success of the lithium asset deal struck earlier this year by rival Mineral Resources.

Page 19: Woolworths could announce as early as this week which Big W stores it plans to close first, as part of its attempts to resurrect profits at the loss-making retailer by slashing its store network.

Page 20: Mineral Resources has been blocked from starting the commissioning of the next stage of its $600 million Wodgina lithium mine in Western Australia after regulators found that a tailings dam at the project was seeping into groundwater.

 

 

The West Australian

Page 3: WA’s tourism industry has hit a new high, with the latest figures revealing interstate visitors arriving in record numbers.

Page 10: Kalgoorlie’s leaders have opened the door to an explosive backflip, easing their hardline anti-gold tax stance and slamming mining companies for ignoring the local community that backed their bid to kill off a royalty hike.

Fed-up Fremantle business owners have launched a stinging attack on mayor Brad Pettitt for ignoring the port city’s economic struggles while being preoccupied with social and environmental “crusades”.

Page 17: Houghton winery — WA’s oldest wine producer — is close to being sold to a local buyer for about $15 million.

Page 24: A new bee-sting vaccine that could greatly cut the time taken for people with severe allergies to build immunity has completed human trials.

Business: Listed WA stockbroker and fund manager Euroz has underlined the severity of the slump in local equity raisings with the disclosure of a small annual loss.

Henderson-based shipbuilder Austal has flagged a big increase in annual profit.

Nestle has found a way to create chocolate without adding any sugar, relying on leftover material from cocoa plants for sweetening as consumers look for natural and healthier fare.

While Rio Tinto contemplates the mammoth task of closing and rehabilitating the Argyle diamond mine in the Kimberley, the Bull hears the State Government’s plan to re-open the Ellendale mine, 120km east of Derby, has not been plain sailing.

The protection of heritage buildings in Subiaco will get a boost from a council strategy that is in the works.

WA will approach a record number of almost 3000 new apartments this year, but a major international property consultancy forecasts the annual figure could fall to about 300 within a few years.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options