30/07/2019 - 06:41

Morning Headlines

30/07/2019 - 06:41

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Morning Headlines

BHP opts to sell lower-grade iron ore

Rio Tinto is not the only big miner struggling to maintain the quality of its iron ore, with BHP confirming that one of its biggest mines in Western Australia will produce lower-grade material for at least a year. The Fin

$1.2bn mall sale tests nerves

The under-pressure shopping centre market is about to receive its biggest test in years, with AMP’s funds arm exploring a sale of the $1.2 billion Garden City Shopping Centre south of Perth. The Aus

ACCC boss says tech giants only care about money

Facebook and Google act as if what is posted on their sites is “none of their business” and their business model is “making money without responsibility”, according to Australian Competition and Consumer Commission boss Rod Sims. The West

Level the playing field but don’t over-regulate tech

Australian technology leaders have backed moves to restrict the power of technology giants by levelling the regulatory playing field, but have warned against overkill that could damage the local sector. The Fin

Woodside sees itself as key to cutting BHP emissions

Woodside Petroleum has talked up its credentials as part of the solution to BHP’s concerns about greenhouses gas emissions from ore iron mined in Western Australia ahead of an upheaval in global shipping. The Fin

Solar surge hits limits

Soaring solar generation has meant that renewables provided 30 per cent of Australia’s midday power supply most days last month, depressing wholesale power prices and piling pressure on coal-fired generators unable to ramp down their operations. The Fin

Defence warning on shipbuilding workforce

Defence has warned its new ministers Linda Reynolds and Melissa Price that a lack of workers to build the navy’s new fleet of ships and submarines is the single biggest threat to the $90 billion endeavour. The Fin

Gambling regulators zone in on Crown

Australian gambling regulators will work together to further examine Crown Resort’s links with junket operators who funnel Asian high rollers to its casinos, after allegations the junkets have links with Chinese criminal syndicates. The Fin

Negative rates ‘not good’

National Australia Bank acting chief Philip Chronican has warned the Reserve Bank should not cut the cash rate below zero as part of any unconventional measures to stimulate the economy. The West

 

 

The Australian Financial Review

Page S1: Australian technology leaders have backed moves to restrict the power of technology giants by levelling the regulatory playing field, but have warned against overkill that could damage the local sector.

Page 1: Soaring solar generation has meant that renewables provided 30 per cent of Australia’s midday power supply most days last month, depressing wholesale power prices and piling pressure on coal-fired generators unable to ramp down their operations.

Page 3: Workers in capital cities are now spending more than an hour a day travelling to and from work, with commuting times blowing out 23 per cent over the past 15 years.

Page 4: The Morrison government will accelerate its response to the Hayne royal commission today by releasing draft legislation to protect consumers against unfair insurance contracts, and introducing into Parliament a bill to enact at least one other recommendation.

Page 5: A senior Huawei executive has warned the Morrison government not to rely on trust when it comes to cyber security, saying all equipment was vulnerable to devastating cyber attacks without vastly improved security standards.

Defence has warned its new ministers Linda Reynolds and Melissa Price that a lack of workers to build the navy’s new fleet of ships and submarines is the single biggest threat to the $90 billion endeavour.

Page 12: Gas pipeline developer Jemena is eyeing the Northern Australian Infrastructure Facility to help fund a proposed $600 million pipeline that would connect Queensland’s inland Galilee Basin to the gas grid and provide more fuel into the stretched east coast market.

Page 14: Rio Tinto is not the only big miner struggling to maintain the quality of its iron ore, with BHP confirming that one of its biggest mines in Western Australia will produce lower-grade material for at least a year.

Page 15: Australian gambling regulators will work together to further examine Crown Resort’s links with junket operators who funnel Asian high rollers to its casinos, after allegations the junkets have links with Chinese criminal syndicates.

Page 16: Woodside Petroleum has talked up its credentials as part of the solution to BHP’s concerns about greenhouses gas emissions from ore iron mined in Western Australia ahead of an upheaval in global shipping.

 

 

The Australian

Page 1: Living standards have stagnated since the global financial crisis, according to a major national survey that finds poverty is on the rise and compulsory superannuation has failed to reduce dependence on the age pension.

Page 2: Scott Morrison says he will stand up to big tech companies such as Google and Facebook in his quest to stop global online child exploitation.

Page 5: Record numbers of young adults are choosing to stay in the family home for longer, delaying marriage and children and “living a little” before they settle down.

Page 8: Tehran has announced it will escalate its nuclear program, putting back on stream a reactor that can produce weapons-grade plutonium.

Page 17: The nation’s biggest electricity retailers face the return of the ‘‘bigstick’’ divestment laws after the Morrison government vowed to push ahead with controversial powers to tackle energy market manipulation, price gouging and anti-competitive conduct.

Former BHP boss Brian Gilbertson has slammed the “mindless box-ticking” of external proxy advisers after shareholders in his South African manganese play Jupiter Mines voted down the proposed appointment of a new director.

The under-pressure shopping centre market is about to receive its biggest test in years, with AMP’s funds arm exploring a sale of the $1.2 billion Garden City Shopping Centre south of Perth.

Page 19: The chorus of disgruntled telcos asking for an end to NBN Co’s onerous wholesale prices is getting louder, with Vocus the latest to call for the current model to be ditched.

 

 

The West Australian

Page 4: Swimming Australia’s chief executive Leigh Russell has been accused of being out of her depth on the Shayna Jack doping crisis after a train-wreck TV interview.

Page 7: Perth will look to cement its status as the sports capital of Australia with a bid to lure the 2021 NRL grand final to Optus Stadium.

Page 8: Morrison Government frontbencher Ken Wyatt or Labor star Matt Keogh face being booted from Federal Parliament, with WA almost certain to lose a seat as the State’s population growth rate slows.

Page 10: Facebook and Google act as if what is posted on their sites is “none of their business” and their business model is “making money without responsibility”, according to Australian Competition and Consumer Commission boss Rod Sims.

Kalgoorlie-Boulder mother-to-be Orla Tone will become one of the first employees in WA to benefit from an “industry-leading” paid parental leave policy adopted by a major Australian gold miner.

Page 14: A significant WA research project exploring the effectiveness of anxiety medication for those with autism has snagged major funding as part of a boost to international health research by the Morrison Government.

Business: National Australia Bank acting chief Philip Chronican has warned the Reserve Bank should not cut the cash rate below zero as part of any unconventional measures to stimulate the economy.

A high-grade discovery at the old Penny West gold mine near Sandstone and a record Australian dollar price for the precious metal are sparking a junior “nearology” play around the historic Youanmi mining centre.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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