09/08/2019 - 06:49

Morning Headlines

09/08/2019 - 06:49

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Mackenzie on why BHP must speak up

BHP chief Andrew Mackenzie said shareholder value could be destroyed if the miner failed to speak up on important social issues like indigenous rights and climate policy. The Fin

Advisers hit back at AMP rescue plan

AMP financial advisers are planning a revolt against the company’s aggressive strategy to cut adviser numbers and drive a harder bargain with those looking to sell their businesses back to the company. The Fin

Decision to ban Huawei from 5G ‘was all ours’

Australia’s most senior bureaucrat has rejected suggestions the government banned Huawei from involvement in the rollout of 5G at the urging of other countries, insisting it was Canberra’s decision alone. The Fin

Note 10 is Samsung’s big hope

Samsung has taken the wraps off the Galaxy Note 10, the latest generation of a marquee stylus-equipped device the company hopes will arrest a slide in profitability and ward off Apple and Huawei. The West

Perth: Have we got a deal for you

The Morrison Government has offered to help fix the issues plaguing the ailing City of Perth as part of a major new deal that would make the streets safer at night and reinvigorate the CBD. The West

McKinsey mates rates for good of the country

Consulting giant McKinsey offered the Morrison government a discount of almost 66 per cent on its ‘‘typical commercial rate’’, a fee that includes a daily charge of $16,000 for senior partners, to win the contract to plan the transformation of the Human Services Department to the new Services Australia. The Fin

VET system lets us down, says Morrison

Scott Morrison has proclaimed ‘‘TAFE is as good as uni’’ as he assured the business sector that vocational education and training would be reformed to meet the unfilled demand for skilled workers. The Fin

Brighter outlook lifts lithium sector

Better than expected results from two of the world’s biggest lithium producers have provided much-needed relief to the battered local sector. The Aus

Stump up WACA cash

Sport and Recreation Minister Mick Murray has urged the Federal Government to “show leadership” by helping to fund the redevelopment of the WACA Ground. The West

Recession fears spark action call

The escalating trade war between the US and China is nudging the world economy towards its first recession in a decade with investors demanding politicians and central bankers act fast to change course.

 

 

The Australian Financial Review

Page1:  AMP financial advisers are planning a revolt against the company’s aggressive strategy to cut adviser numbers and drive a harder bargain with those looking to sell their businesses back to the company.

Consulting giant McKinsey offered the Morrison government a discount of almost 66 per cent on its ‘‘typical commercial rate’’, a fee that includes a daily charge of $16,000 for senior partners, to win the contract to plan the transformation of the Human Services Department to the new Services Australia.

Page 3: The chairman of the competition regulator, Rod Sims, wants the government to create a law against “unfair trading practices” that would not only allow him to tackle the technology platforms but lift standards in the banking sector.

Woolworths South Africa and David Jones chief executive Ian Moir regrets paying $2.1 billion for Australia’s premier department store at the top of the retail cycle, but says he’s had no qualms spending another $350 million over the last three years futureproofing the business.

Page 4: Scott Morrison has proclaimed ‘‘TAFE is as good as uni’’ as he assured the business sector that vocational education and training would be reformed to meet the unfilled demand for skilled workers.

Page 6: Australia’s most senior bureaucrat has rejected suggestions the government banned Huawei from involvement in the rollout of 5G at the urging of other countries, insisting it was Canberra’s decision alone.

Page 7: The president of Australia’s peak legal body has told leaders of the profession in China that there is no rule of law in their country and they need to speak up and challenge the government.

Page 9: The Morrison government will today announce a Commonwealth-led taskforce to deal with the potential consequences of the closure of AGL Energy’s Liddell coal-fired power station in four years.

Page 12: BHP chief Andrew Mackenzie said shareholder value could be destroyed if the miner failed to speak up on important social issues like indigenous rights and climate policy.

Page 14: The consumer regulator has launched legal action against healthcare booking platform HealthEngine for allegedly sharing patient information with health insurance brokers.

Page 17: AGL Energy is pursuing alternative options to achieve its ambition of expanding into data services for households, with chief executive Brett Redman standing by the strategic rationale behind the ditched $3 billion takeover approach for Vocus Group.

Page 20: BHP will spend $US283 million ($419 million) extending its oil and gas business in the Caribbean, as speculation about an exit from another type of fossil fuel continues.

 

 

The Australian

Page 1: New ASIO director-general Mike Burgess will transform the domestic spy agency, increasing its use of sophisticated technology and cyber spycraft to counter growing foreign interference by state actors, including China and Russia.

Life insurers have trawled through the medical records of 150,000 Australians in an attempt to deny payouts in the 18 months since a parliamentary inquiry called for new restrictions on access to personal health data.

Page 3: Mums and dads who run suburban and country cricket clubs could be prosecuted under state and federal discrimination laws for failing to allow anyone who identities as female to play in a women’s team.

Page 6: Scott Morrison is laying down conditions for Australian participation in an international mission to protect commercial shipping in the Persian Gulf, declaring that it must be a multinational initiative aimed at de-escalating regional tensions.

Page 9: India’s shock move to strip disputed Kashmir of its statehood and special autonomy has plunged the subcontinent into a fresh crisis, with India bracing for terror attacks and Pakistan suspending trade, recalling its ambassador and closing airspace to Indian traffic.

Page 17: AMP chief executive Francesco De Ferrari says he is taking “decisive action” to shore up the embattled wealth group’s future by moving to radically reshape the financial advice unit, jettison life insurance and bolster the balance sheet.

Page 20: Better than expected results from two of the world’s biggest lithium producers have provided much-needed relief to the battered local sector.

Chevron’s controversial $2.5 billion initiative to store carbon dioxide deep beneath Western Australia’s Barrow Island has finally started operation.

Page 26: Optus is looking to add more subscribers to its sports streaming service as the telco banks on its exclusive rights to English Premier League to contain the ongoing weakness in its core business.

 

 

The West Australian

Page 3: Transgender and genderdiverse athletes will be able to play cricket at the highest level in Australia after a breakthrough decision by the sport’s national governing body.

Page 4: One of WA’s most anticipated hotel openings finally has a date, with Ritz-Carlton confirming its Perth location will be up and running by the end of the year.

Page 5: Tourism operators across the Margaret River region are questioning the accuracy of figures used to boast about a big uptick in WA visitors, saying they are experiencing a worrying decline.

Page 7: The Town of Victoria Park may ban mobile food vans because of fears they could be the “nail in the coffin” for bricks-and-mortar eateries.

Page 8: The US Ambassador to Australia has urged the Federal Government to seriously consider a request to take part in a US-led naval mission to the Strait of Hormuz, pointing out much of Australia’s oil supply travels through the strategic choke point.

Page 9: The Morrison Government has offered to help fix the issues plaguing the ailing City of Perth as part of a major new deal that would make the streets safer at night and reinvigorate the CBD.

The McGowan Government wants US President Donald Trump to send more ships of war to WA.

Page 17: Sport and Recreation Minister Mick Murray has urged the Federal Government to “show leadership” by helping to fund the redevelopment of the WACA Ground.

Page 24: Three Perth councils have declared a “climate emergency” on behalf of their ratepayers but the Federal Government says they should focus on environmental issues closer to home.

Business: The escalating trade war between the US and China is nudging the world economy towards its first recession in a decade with investors demanding politicians and central bankers act fast to change course.

Treasury Wine Estates has rejected research alleging it inflated its profits.

Samsung has taken the wraps off the Galaxy Note 10, the latest generation of a marquee stylus-equipped device the company hopes will arrest a slide in profitability and ward off Apple and Huawei.

The escalating trade war between the US and China is nudging the world economy towards its first recession in a decade with investors demanding politicians and central bankers act fast to change course.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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