01/08/2019 - 06:50

Morning Headlines

01/08/2019 - 06:50

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Morning Headlines

Roe 8 to roll without toll: Libs

The State’s shadow treasurer says a Liberal government could build the controversial Roe Highway extension without slapping a toll on trucks. The West

No-go for Indo coal import

The McGowan Government has firmly ruled out mining giant South32’s Worsley alumina refinery importing coal in the event of the collapse of struggling Collie miner Griffin Coal. The West

Australia eyes Asia trade pact by end of year

Australia is confident of securing a regional trade pact that includes 10 of its 15 largest trading partners by the end of the year despite resistance from India to a deal it fears will flood its market with cheap Chinese goods. The Fin

Telstra 'behind high NBN prices'

Telstra’s rivals have pushed back against its latest call for lower NBN wholesale prices, saying the dominant telco is partly responsible for the expensive charges imposed by NBN Co. the Aus

Sheep exporter and ex-company directors charged with cruelty

The company previously responsible for the lion’s share of Australia’s $250 million-a-year live sheep trade and two of its former directors have been charged with animal cruelty offences. The Fin

Sims makes case for NBN write-down

Competition regulator Rod Sims says a write-down of the national broadband network would be justified if it resulted in cheaper internet, weighing into an increasingly heated debate over the future of the $50 billion government-owned network. The Fin

Fed cut lifts pressure on RBA board

The US Federal Reserve’s widely expected interest rate cut today will pressure the Reserve Bank of Australia to consider lowering the official cash rate to a fresh record low in coming months. The Fin

Crown hits back over ‘unfair’ allegations

Crown Resorts’ board has launched a public relations offensive, rejecting allegations over its efforts to woo wealthy Chinese gamblers and saying a series of news reports have‘‘unfairly attempted to damage Crown’s reputation’’. The Fin

ALP talk of visa job losses rejected

The Home Affairs Department has attacked Labor claims that up to 2000 Australian jobs would be cut or sent offshore through the rollout of a new visa system estimated to be worth $1 billion. The Aus

 

 

The Australian Financial Review

Page 1: The US Federal Reserve’s widely expected interest rate cut today will pressure the Reserve Bank of Australia to consider lowering the official cash rate to a fresh record low in coming months.

Page 3: Competition regulator Rod Sims says a write-down of the national broadband network would be justified if it resulted in cheaper internet, weighing into an increasingly heated debate over the future of the $50 billion government-owned network.

The corporate regulator has warned superannuation funds that trying to win business by offering employers free tickets to sporting events is against the law and punishable by criminal penalties.

Page 4: The Morrison government has surprised the property industry by shifting on its iron-clad election pledge not to change negative gearing rules, introducing a $50 million plan to end tax deductions related to vacant land.

The company previously responsible for the lion’s share of Australia’s $250 million-a-year live sheep trade and two of its former directors have been charged with animal cruelty offences.

Page 5: Crown Resorts’ board has launched a public relations offensive, rejecting allegations over its efforts to woo wealthy Chinese gamblers and saying a series of news reports have ‘‘unfairly attempted to damage Crown’s reputation’’.

Page 9: Lending to business contracted for the first time in more than two years in June, Reserve Bank data show, capping off a period of stalled growth.

Page 10: Australia is confident of securing a regional trade pact that includes 10 of its 15 largest trading partners by the end of the year despite resistance from India to a deal it fears will flood its market with cheap Chinese goods.

Page 15: Commonwealth Bank will begin advising the 5.6 million users of its banking app what they should do with their money, as digital banking shifts from facilitating transactions to providing personal, customised insights to customers based on data.

Page 21: The second-biggest shareholder in Kakadu uranium miner Energy Resources of Australia (ERA) has accused Rio Tinto of deliberately undermining the company and overstating rehabilitation costs as part of a plan to get its hands on about $646 million worth of tax benefits.

Page 22: CIMIC’s Spanish parent, Grupo ACS, has confirmed the use of so-called factoring – a technique that smooths cash flows – throughout its global construction empire after reporting its first-half results in Madrid.

 

 

The Australian

Page 4: The Home Affairs Department has attacked Labor claims that up to 2000 Australian jobs would be cut or sent offshore through the rollout of a new visa system estimated to be worth $1 billion.

A “loophole” to allow councils, small government agencies and professional bodies to access data from telecommunication companies was intentionally left open when strict mandatory data retention laws were brought in four years ago, the Department of Home Affairs says.

Page 8: Rugby Australia’s pretence of respecting faith and diversity will be challenged in Melbourne’s Federal Circuit Court. It will be formally served with notices of legal proceedings after Israel Folau lodged his claim for unlawful termination late yesterday afternoon.

Page 17: The collapse of the prolific east coast suburban apartment developer Ralan Group, owing creditors at least half a billion dollars, has highlighted the fragile state of the high-rise property market.

Independently owned financial advisers plan to lodge a High Court action within weeks against a ban on grandfathered commissions, setting up a showdown with the government over whether a repeal is valid under the Constitution.

Telstra’s rivals have pushed back against its latest call for lower NBN wholesale prices, saying the dominant telco is partly responsible for the expensive charges imposed by NBN Co.

Page 18: As Australia’s mining community prepares for its annual trek to Kalgoorlie’s Diggers and Dealers conference next week, the pre-Diggers tyre-pumping is set to begin in earnest, as local miners talk up their hopes and prospects.

Page 19: Rio Tinto could unleash a dividend bonanza to wash away memories of its poor first-half operating performance, analysts say, as high iron ore prices deliver a flood of free cash into the company’s coffers.

 

 

The West Australian

Page 3: Persistent complaints about hidden fees at retirement villages have triggered a fresh push to make contracts easier to understand and charges more transparent.

Page 5: Hugely controversial euthanasia laws could be introduced into State Parliament as soon as Tuesday, setting the scene for one of the most emotive political debates in years.

Page 7: The State’s shadow treasurer says a Liberal government could build the controversial Roe Highway extension without slapping a toll on trucks.

Page 9: A stoush has erupted between Barnaby Joyce and Alannah MacTiernan after he accused her of pursuing policies that “make farmers poor” following her department’s decision to slap a Perth live export company with cruelty charges.

Page 14: Young women have become the face of Australia’s mental health epidemic, with hospital admissions, calls to helplines and anxiety and depression rates on the rise.

Page 20: The City of Perth wants to end homelessness in the CBD within a decade.

Business: The McGowan Government has firmly ruled out mining giant South32’s Worsley alumina refinery importing coal in the event of the collapse of struggling Collie miner Griffin Coal.

The sale of Wellard’s Ocean Swagman carrier to Heytesbury Holdings is in doubt, with the company disclosing it is negotiating with another party.

The nation is underestimating just how quickly automation and robotic technology will sweep through and upend the workplace, Telstra’s chief executive has warned.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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