16/08/2019 - 06:52

Morning Headlines

16/08/2019 - 06:52

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Morning Headlines

Woodside accuses Chevron, BHP of delaying gas deals

Woodside Petroleum chief executive Peter Coleman has put the heat on Chevron and BHP over delays on gas processing deals, warning they are running the risk of allowing rivals overseas to capture LNG customers targeted by two huge West Australian projects. The Fin

Tourism industry now employs one in 13 working Australians

Tourism jobs have grown 34 per cent in the past 10 years, leapfrogging the transport sector and

wholesale industry, underlining its growing importance to the economy. The Fin

Evolution coy on Super Pit

Evolution Mining boss Jake Klein is reticent on any designs the gold miner might have on the Kalgoorlie Super Pit but says the company would not discount an acquisition opportunity just because it involved a non-operating stake in an asset. The West

Westpac plan to sharpen up loan policies

Westpac Group is set to follow up its landmark victory against ASIC on responsible lending with sweeping changes to home lending policies that include more rigorous assessment, deep diving into household spending, and new debt-to-income analysis of higher-risk loans. The Fin

Outer Harbour report ‘flawed’

A report recommending a new Outer Harbour in Kwinana is “fatally flawed” because it fails to examine the effect building Perth Freight Link will have on extending the life of Fremantle Port, shadow transport minister Libby Mettam says. The West

Live events at Cottesloe

Plans for a $15 million revamp of the Cottesloe foreshore include replacing beachside car parking with an outdoor amphitheatre and converting a stretch of Marine Parade into a pedestrian-friendly boulevard. The West

CFMEU seeks to lock in pay rises forever

The militant construction union is pushing for 5 per cent pay increases a year every year indefinitely, in an unprecedented new agreement that employers say is the most restrictive they have ever seen. The Fin

Top diplomat says China counting on WA for closer ties

China’s top diplomat in resources-rich Western Australia says Beijing is counting on the state’s Labor government to foster a ‘‘better and friendlier’’ environment for Chinese investors and companies. The Fin

Stocks rocked on recession fear

Investors wiped $56 billion off the Australian sharemarket after Wall Street tumbled on recession fears and strong jobs data called for a further pause in interest rate cuts by the Reserve Bank. The Aus

 

 

The Australian Financial Review

Page 1: Woodside Petroleum chief executive Peter Coleman has put the heat on Chevron and BHP over delays on gas processing deals, warning they are running the risk of allowing rivals overseas to capture LNG customers targeted by two huge West Australian projects.

Page 3: Westpac Group is set to follow up its landmark victory against ASIC on responsible lending with sweeping changes to home lending policies that include more rigorous assessment, deep diving into household spending, and new debt-to-income analysis of higher-risk loans.

Tourism jobs have grown 34 per cent in the past 10 years, leapfrogging the transport sector and wholesale industry, underlining its growing importance to the economy.

Page 4: The economy created 41,100 new jobs last month – outstripping expectations of a gain of 14,000 – but it was not enough to reduce the overall jobless rate from 5.2 per cent, which has been unchanged for the fourth consecutive month.

Page 7: The militant construction union is pushing for 5 per cent pay increases a year every year indefinitely, in an unprecedented new agreement that employers say is the most restrictive they have ever seen.

Page 8: Australia and like-minded Western allies need to band together in a coordinated effort to counter Chinese and Russian ‘‘political warfare operations’’ to ward off threats to freedom and national sovereignty, according to respected former analyst Ross Babbage.

China’s top diplomat in resources-rich Western Australia says Beijing is counting on the state’s Labor government to foster a ‘‘better and friendlier’’ environment for Chinese investors and companies.

Page 9: In a rare show of common ground, progressive think tank the Australia Institute has offered backing for the Business Council of Australia’s push for an investment allowance for companies to help boost the economy.

Page 15: Telstra chief executive Andy Penn has warned investors to prepare for a larger than expected loss of earnings to the national broadband network, as NBN Co’s aggressive push into the enterprise market creates more headaches for the embattled telco.

Page 22: Evolution Mining boss Jake Klein has indicated the gold miner will stick to a ‘‘cash is king’’ approach in revealing a change in the company’s dividend policy that is set to deliver significantly higher returns to shareholders at least in the short term.

 

 

The Australian

Page 1: Fair Work Commission president Iain Ross has challenged the Business Council of Australia over its proposed changes to workplace laws, saying they could increase profits and reduce wages but may not lift productivity.

Page 3: Facebook and other tech giants including Microsoft are being investigated for potential breaches of privacy laws, following revelations they eavesdropped on seemingly private audio conversations to improve their products.

Page 6: Airbnb has soaked up the profits from a regional tourism boom, sapping revenue from old-style country motels that are struggling or closing altogether.

Page 17: Investors wiped $56 billion off the Australian sharemarket after Wall Street tumbled on recession fears and strong jobs data called for a further pause in interest rate cuts by the Reserve Bank.

Page 18: The sales process for a stake in Seven Group’s Crux gas field is finally under way, with interested suitors trawling through information from a virtual data room set up for parties.

Page 19: Treasury Wine Estates boss Michael Clarke is waging war on short-sellers who spread misinformation about his company, saying they are “peddling garbage and manipulating the market”, as he unveils the next stage of his global growth plans, including becoming the biggest importer of French wine into Asia.

Page 21: Super Retail Group boss Anthony Heraghty believes shoppers are in a “brutal and volatile” state as they assess their household budgets against spending needs.

 

 

The West Australian

Page 3: A nationwide search will start for a new director of the Australian War Memorial after former Liberal Party leader Brendan Nelson announced yesterday that he would step down.

Page 5: A report recommending a new Outer Harbour in Kwinana is “fatally flawed” because it fails to examine the effect building Perth Freight Link will have on extending the life of Fremantle Port, shadow transport minister Libby Mettam says.

Page 8: Corruption and Crime Commission boss John McKechnie has threatened to resign as his agency signals an investigation of parliamentary expenses could broaden to target serving MPs.

Page 11: Former foreign minister Julie Bishop has joined the board of one of the world’s most innovative medical organisations, the Human Vaccines Project.

Page 16: Plans for a $15 million revamp of the Cottesloe foreshore include replacing beachside car parking with an outdoor amphitheatre and converting a stretch of Marine Parade into a pedestrian-friendly boulevard.

Business: Tensions are escalating between farmers in the Manjimup-Pemberton food bowl over the Southern Forrests Irrigation Scheme proposal.

Perth mining consultancy K2Fly has won a $250,000 deal for Glencore to use the firm’s RCubed resource governance software at its zinc operations across 65 sites in seven countries.

Evolution Mining boss Jake Klein is reticent on any designs the gold miner might have on the Kalgoorlie Super Pit but says the company would not discount an acquisition opportunity just because it involved a non-operating stake in an asset.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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