19/07/2019 - 06:44

Morning Headlines

19/07/2019 - 06:44

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Morning Headlines

Woodside pushes ahead on WA LNG

Woodside Petroleum chief financial officer Sherry Duhe has given a bullish assessment on the prospects for the oil and gas producer’s West Australian LNG projects as federal Resources Minister Matthew Canavan added further pressure for the multi-billion dollar Browse and Scarborough investments to proceed. The Fin

APRA told to just get on with it

Treasurer Josh Frydenberg says he has secured a guarantee from the prudential regulator to accept all recommendations of the Samuel review, including the adoption of powers to veto the appointment of directors, and will get more money and resources to do so. The Fin

DP World cuts 200 jobs and blames MUA

DP World has cut 200 jobs as a new wave of industrial action hit its terminals, sparking outrage from the maritime union. The Fin

‘How good are jobs?’: PM dismisses Newstart rise

Scott Morrison has dismissed growing calls for an increase in unemployment benefits, saying the Coalition has no plans to increase the Newstart payment. The Fin

Soft jobs growth pressures RBA

Worsening job losses in major eastern states and a slowdown in employment growth will maintain pressure on the Reserve Bank of Australia to keep slashing interest rates to a record low, as economists doubt the government’s tax cuts will be enough to boost growth. The Aus

Freeze on fixed pay for one in three execs

More than a third of the top 100 CEOs had their fixed pay frozen last year along with 29 per cent of top executives, the first time since 2016 that executive pay has lagged general employee wage growth of 2.3 per cent. The Fin

David Jones axes 120 jobs

Upmarket department store David Jones has taken the knife to staffing levels with 120 redundancies across its head office and stores as it battles some of the worst trading conditions in a decade and pivots investment to faster-growth operations such as digital and online. The Aus

Turkish delight for Australian F-35 suppliers      

Australian suppliers are poised to swoop and increase their share of work for the Joint Strike Fighter after Donald Trump ejected Turkey from the program. The Fin

South32 faces write-down before South African sale

South32 boss Graham Kerr has again talked up the company’s future in base metals as it moves closer to exiting South African coal and a cloud hangs over the future of its manganese alloy smelters. The Fin

Fortescue looks to West African minerals

Fortescue Metals Group has held talks in Liberia on opportunities in the West African nation, though it disputes a government claim it has already agreed to join a plan to upgrade the nation’s railways. The Fin

 

 

The Australian Financial Review

Page 1: Treasurer Josh Frydenberg says he has secured a guarantee from the prudential regulator to accept all recommendations of the Samuel review, including the adoption of powers to veto the appointment of directors, and will get more money and resources to do so.

Page 3: DP World has cut 200 jobs as a new wave of industrial action hit its terminals, sparking outrage from the maritime union.

Page 6: Scott Morrison has dismissed growing calls for an increase in unemployment benefits, saying the Coalition has no plans to increase the Newstart payment.

Page 7: Australian construction faces a period of re-regulation – and consequently higher costs – following an agreement by Commonwealth and state ministers on Thursday to co-operate to prevent the recurrence of problems such as combustible cladding, crumbling buildings and lax self-regulation.

Page 9: More than a third of the top 100 CEOs had their fixed pay frozen last year along with 29 per cent of top executives, the first time since 2016 that executive pay has lagged general employee wage growth of 2.3 per cent.

Page 11: Prime Minister Scott Morrison has threatened to sideline Labor and pass the government’s plan for increased drought assistance with the help of the Senate crossbench.

Page 12: Australian suppliers are poised to swoop and increase their share of work for the Joint Strike Fighter after Donald Trump ejected Turkey from the program.

Page 15: Woodside Petroleum chief financial officer Sherry Duhe has given a bullish assessment on the prospects for the oil and gas producer’s West Australian LNG projects as federal Resources Minister Matthew Canavan added further pressure for the multi-billion dollar Browse and Scarborough investments to proceed.

Page 18: South32 boss Graham Kerr has again talked up the company’s future in base metals as it moves closer to exiting South African coal and a cloud hangs over the future of its manganese alloy smelters.

Page 19: Woolworths discount chain Big W is scaling back its presence in one of the most populous parts of Sydney by closing three stores in close proximity in the city’s south-west.

Page 21: The corporate watchdog has proposed a total ban on direct telephone sales of life insurance and consumer credit insurance, in a move that pre-empts a Hayne royal commission recommendation.

 

 

The Australian

Page 1: Former High Court chief justice Murray Gleeson has declared a new indigenous “voice to parliament” could be created through legislation — with only minimal references in the Constitution — without eroding the power of the nation’s politicians.

Page 2: Worsening job losses in major eastern states and a slowdown in employment growth will maintain pressure on the Reserve Bank of Australia to keep slashing interest rates to a record low, as economists doubt the government’s tax cuts will be enough to boost growth.

Page 5: The Morrison government hopes a deal thrashed out with the states to pursue uniform compliance on building sites across the nation will be enough to stave off a threatened walkout by insurers and possible collapse of the trillion-dollar construction industry.

Page 17: The $45 billion fund manager protecting the retirement savings of Australia’s top public servants and Defence Force personnel has been put on notice by the prudential regulator to “immediately” shore up its risk culture after it failed to tackle an internal review with “sufficient challenge, granularity or evidential support”.

The federal government’s green loans agency will increasingly look to fund large-scale batteries, pumped storage and new grid solutions as new investors boost their exposure to solar and wind generation.

Upmarket department store David Jones has taken the knife to staffing levels with 120 redundancies across its head office and stores as it battles some of the worst trading conditions in a decade and pivots investment to faster-growth operations such as digital and online.

Page 21: Work has begun on a controversial new hydrogen plant on Victoria’s Mornington Peninsula, which proponents say could breathe new life into the Latrobe Valley’s coal industry and help launch a new export industry for Australia.

 

 

The West Australian

Page 6: Gaffe-prone Liberal MP Ian Goodenough’s phone was taken away from him during the last three weeks of the Federal election campaign.

Page 7: Environment Minister Stephen Dawson is not worried about dumpster divers going through trash looking for cans and bottles to trade for cash when the State’s container deposit scheme starts next year.

Page 9: Influencers who falsely inflate their popularity could be put out of business by Instagram’s decision to “hide” likes, according to social media experts.

Page 10: Ratepayers should not accept council fat cats taking home salaries that rival those of the Premier, according to acting Local Government Minister Stephen Dawson.

Page 11: WA was the only State to record a bump in jobs last month, prompting Treasurer Ben Wyatt to claim the engine room of Australia was firing back up.

Page 15: A renowned WA scientist has warned that high schools could be damaging girls’ future career options by talking them out of tackling challenging maths and science subjects in a misguided attempt to increase their ATAR score.

Business: Australian share fund managers under-delivered for their investors last financial year, failing to even beat the market return.

Renewably produced hydrogen could join natural gas in the stovetops and water heaters of WA homes from as soon as 2030 after pipeline group ATCO yesterday unveiled a $3.6 million Clean Energy Innovation Hub.

The offshore safety regulator says an oil and gas company has had adequate time to address problems which have halted its production in the Timor Sea.

Shares in Western Areas surged more than 5 per cent yesterday after a solid quarterly report from the WA pure nickel play and increasingly bullish talk on prices for the steel-hardening commodity.

Fortescue Metals Group has held talks in Liberia on opportunities in the West African nation, though it disputes a government claim it has already agreed to join a plan to upgrade the nation’s railways.

Facebook has taken another beating over its controversial cryptocurrency plans as US lawmakers argued the proposal posed vast privacy and national security risks.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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