18/07/2019 - 06:58

Morning Headlines

18/07/2019 - 06:58

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Iron ore strong as BHP, Rio flag maintenance

Australia’s two biggest iron ore exporters have flagged ‘‘major’’ maintenance campaigns in the next four months, suggesting bumper prices for the bulk commodity could be supported by weak exports for a while yet. The Fin

Buyers told to chance the market

Housing Minister Michael Sukkar has urged first-home buyers to try to snap up a property now, ahead of the government’s signature loan deposit scheme starting next year, warning that housing prices are likely to increase. The Aus

Perth council so top-heavy it will sack HALF its managers

Half the management jobs at the City of Perth are to be axed in a bid to slash the council’s soaring staff costs. The West

Forrest ramps up his push to curb slavery

Iron ore billionaire and philanthropist Andrew Forrest has urged Australia to do more to tackle modern slavery at home but stopped short of condemning China over the treatment of its Uighur population. The Fin

CIMIC takes a hit over construction        

CIMIC blamed a decline in the Hong Kong market for weaker first-half profits in its construction business as Australia’s biggest construction company reported a 1 per cent rise in group net profit to $366.7 million. The Fin

We’re on the right track: APRA

Australian Prudential Regulation Authority chairman Wayne Byres has pushed back against two key recommendations in Graeme Samuel’s review, saying he did not have the resources to ambush companies with inquiries or veto hundreds of director appointments. The Fin

MinRes shares hit after block on mine

Mineral Resources says it does not expect any material impact from a decision by West Australian regulators to block further commissioning at its $600 million Wodgina lithium mine. The Aus

Woolworths to fight Coles’ Little Shop 2                                                                                                                      

When Coles trounced Woolworths on same-store sales growth in the September quarter last year, thanks to its wildly successful Little Shop campaign, Woolworths chief executive Brad Banducci swore it wouldn’t happen again. The Fin

Big power users to cut costs in peaks

Big industrial users can expect cuts to high electricity bills under a proposal allowing them to profit by reducing demand on the power grid and gaining greater control over their energy needs, Australia’s competition regulator predicts. The Aus

GRDC pumps funds into Ord partnership

The biggest grains research organisation in Australia has invested $250,000 into research in the Ord Irrigation Scheme, branching out from its traditional southern focus and into tropical agriculture. The West

 

 

The Australian Financial Review

Page 1: Australian Prudential Regulation Authority chairman Wayne Byres has pushed back against two key recommendations in Graeme Samuel’s review, saying he did not have the resources to ambush companies with inquiries or veto hundreds of director appointments.

Page 3: Australian physicists have achieved a breakthrough in quantum computing, bringing the world closer to technology that could revolutionise industries such as financeand medicine by enabling significantly faster computation.

Page 4: A climate change strategy for Australia’s foreign aid program has languished in Foreign Minister Marise Payne’s office for six months, undermining efforts to bolster ties with Pacific nations who regard global warming as an existential threat.

Page 10: Iron ore billionaire and philanthropist Andrew Forrest has urged Australia to do more to tackle modern slavery at home but stopped short of condemning China over the treatment of its Uighur population.

Page 15: Australia’s two biggest iron ore exporters have flagged ‘‘major’’ maintenance campaigns in the next four months, suggesting bumper prices for the bulk commodity could be supported by weak exports for a while yet.

Global ratings agency Fitch has said the credit outlook for ANZ and Westpac is negative following the prudential regulator’s decision to hit both banks with capital penalties of half a billion dollars earlier this month.

Page 17: When Coles trounced Woolworths on same-store sales growth in the September quarter last year, thanks to its wildly successful Little Shop campaign, Woolworths chief executive Brad Banducci swore it wouldn’t happen again.

Page 18: Investors have thrown their support behind Elders and its biggest acquisition under Mark Allison as green shoots emerge in some Australian farming regions.

Page 22: CIMIC blamed a decline in the Hong Kong market for weaker first-half profits in its construction business as Australia’s biggest construction company reported a 1 per cent rise in group net profit to $366.7 million.

 

 

The Australian

Page 1: Housing Minister Michael Sukkar has urged first-home buyers to try to snap up a property now, ahead of the government’s signature loan deposit scheme starting next year, warning that housing prices are likely to increase.

Page 2: The $700 billion union- and employer-backed industry super fund sector is mounting a rearguard attack to keep lucrative worker contributions as the government moves to unshackle retirement savings from the industrial relations system.

Page 4: Insurers have lashed out at claims their quest for higher profits has helped drive a crisis in the nation’s construction industry, instead blaming a huge rise in annual premiums on builders using substandard materials.

Former Nationals leader Barnaby Joyce has called for an increase to the Newstart payment, saying life on the unemployment benefit is “hard” and advocating a new rate that takes into account the recipient’s geographical location.

Page 5: A dramatic increase in the use of drones in Australia is likely to be exploited by criminal gangs and terrorists, Airservices Australia has warned.

Page 7: Conservative Liberal MPs have attacked corporate leaders for calling on Scott Morrison to back a constitutionally enshrined indigenous “voice to parliament”.

Page 8: Declaring he does not have a racist bone in his body, Donald Trump has renewed his attack on four minority liberal congresswomen, accusing them of “spewing” the most “vile” and “hateful” comments ever uttered in congress.

The median growth super fund delivered a 7 per cent return in the year to June 30, the 10th consecutive year of positive returns, says researcher Chant West.

Page 19: Big industrial users can expect cuts to high electricity bills under a proposal allowing them to profit by reducing demand on the power grid and gaining greater control over their energy needs, Australia’s competition regulator predicts.

Page 20: Mineral Resources says it does not expect any material impact from a decision by West Australian regulators to block further commissioning at its $600 million Wodgina lithium mine.

Page 23: Property group Dexus has emerged as the leading bidder for a five-strong portfolio of industrial assets worth about $230 million being offloaded by funds group Charter Hall as they each pursue growth strategies in the busy logistics sector.

 

 

The West Australian

Page 3: Giant and colourful pot plants are sprouting up across Bunbury in the latest efforts to add some vibrancy to the CBD.

Page 4: Half the management jobs at the City of Perth are to be axed in a bid to slash the council’s soaring staff costs.

Page 7: Federal Environment Minister Sussan Ley has told councils to stick to collecting bins as more local governments declare a “climate emergency”.

Page 10: Former NSW premier Mike Baird is lobbying WA Treasurer Ben Wyatt to fund a dedicated palliative care centre for children, arguing it would be a “game changer” for families spending their final days with their terminally ill child.

Page 11: A big gold miner has hit back at the City of Kalgoorlie-Boulder, arguing it cannot employ residents who “don’t exist” after the council lashed out at the gold industry over an alleged failure to meet community standards.

Business: The global head of Royal Dutch Shell has put pressure on the owners of the enormous Browse field to process the gas in Karratha, saying a pipeline to the North West Shelf was “blindingly obvious”.

BHP will target record iron ore production from its Pilbara operations this financial year as the mining giant looks to cash in on five-year high prices for the steelmaking commodity.

The biggest grains research organisation in Australia has invested $250,000 into research in the Ord Irrigation Scheme, branching out from its traditional southern focus and into tropical agriculture.

Perth-based gold miner Red 5 is charging into the new financial year with one eye on a standalone operation at its open-pit mine near Leonora and nearly $25 million in the bank.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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