20/08/2019 - 07:02

Morning Headlines

20/08/2019 - 07:02

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Morning Headlines

OCP, Keshik in lithium play

Hong Kong-based alternatives manager OCP Asia and Alex Turnbull’s hedge fund Keshik Capital are set to emerge as major shareholders in ASX-listed lithium company Alita Resources. The Fin

ASIC fights back over loan rules

The Australian Securities and Investments Commission has made it clear it will not take a backward step after challenging bankers from National Australia Bank and ANZ over their lending standards just days after an embarrassing setback in the Federal Court. The Fin

Disney+ to launch in Australia

The Walt Disney Company’s much-anticipated streaming service Disney+ will launch in Australia in November, making Australia one of the first countries outside the US to gain the media and entertainment behemoth’s new offering. The Fin

Gage taps a growing thirst for craft beer

Publicly listed craft brewer Gage Roads Brewing Co believes its beers are getting more recognition in a crowded market where the big brewers dominate, and is looking to ramp up volumes in 2020. The Aus

SEEK warns on job automation

The chief executive of Australia’s largest job-hunting website, SEEK, has warned that current strong job numbers are hiding the full effects of automation in the workplace, saying any economic downturn will lead to thousands of ‘‘mid-level’’ jobs going and not returning. The Fin

ICWA to sweat lazy cash

The Insurance Commission of WA is looking to sweat nearly $1 billion in cash idled by low interest rates by chasing better returns in infrastructure and other investments. The West

Perth Basin is Beach baby

Beach Energy is riding high east-coast gas prices but still sees value in the oversupplied WA market. The West

NIB: health insurer rules ‘ideological’

NIB boss Mark Fitzgibbon has hit out at ‘‘ideological’’ rules from the ‘‘left of politics’’ that prevent health insurers from funding out-of-hospital care, as the company looks for ways to reduce costs amid growing affordability concerns. The Fin

Cochlear CEO hasn’t ruled out offshore R&D

Cochlear chief executive Dig Howitt has not ruled out the possibility of shifting more of the hearing implant maker’s research and development operations offshore, as it continues to be courted by foreign governments. The Fin

Qantas to cap regional airfares 

Qantas has promised residents of key regional centres they will not pay more than about $400 for a one-way airfare to the nearest capital city, under an expansion of its discounted fares program. The Aus

 

 

The Australian Financial Review

Page 1: The Australian Securities and Investments Commission has made it clear it will not take a backward step after challenging bankers from National Australia Bank and ANZ over their lending standards just days after an embarrassing setback in the Federal Court.

Page 3: Bank customers told about the fine print of new credit cards spent nearly 10 per cent more every month and were significantly less likely to cancel their accounts, Harvard research shows.

The Walt Disney Company’s much-anticipated streaming service Disney+ will launch in Australia in November, making Australia one of the first countries outside the US to gain the media and entertainment behemoth’s new offering.

Page 4: Papua New Guinea is seeking $1.5 billion in loans from Australia to help fund government spending programs, weeks after floating the idea of China refinancing its entire national debt.

Page 8: Financial advisers are bracing to have their annual revenues slashed by up to 30 per cent following federal government plans to abolish grandfathered commissions in a package of reforms targeting the financial services industry, according to industry specialists.

Page 9: Koala Mattress, Anytime Fitness and Volkswagen are the latest brands to cut ties with Alan Jones’ radio show after he suggested Prime Minister Scott Morrison should ‘‘shove a sock down’’ the throat of NZ Prime Minister Jacinda Ardern.

Page 12: US energy prices just one-third of those in Australia, along with a robust manufacturing sector stoked by President Donald Trump’s policies, have prompted a $1 billion expansion of an Ohio steel mill by BlueScope.

NIB boss Mark Fitzgibbon has hit out at ‘‘ideological’’ rules from the ‘‘left of politics’’ that prevent health insurers from funding out-of-hospital care, as the company looks for ways to reduce costs amid growing affordability concerns.

Page 13: Hong Kong-based alternatives manager OCP Asia and Alex Turnbull’s hedge fund Keshik Capital are set to emerge as major shareholders in ASX-listed lithium company Alita Resources.

Page 15: Cochlear chief executive Dig Howitt has not ruled out the possibility of shifting more of the hearing implant maker’s research and development operations offshore, as it continues to be courted by foreign governments.

Page 17: Beach Energy chief executive Matt Kay has defended the bumper returns he is targeting from investments to supply the overstretched east coast gas market, arguing they are needed to cover the multibillion-dollar investment risks the oil and gas producer takes on.

Page 19: The chief executive of Australia’s largest job-hunting website, SEEK, has warned that current strong job numbers are hiding the full effects of automation in the workplace, saying any economic downturn will lead to thousands of ‘‘mid-level’’ jobs going and not returning.

Page 21: A top executive at fast-growing US cloud software firm Workday says it is winning increasing amounts of Australian business clients looking to better understand the data used across their organisations, after it added Transurban, AGL and Challenger to an impressive roster of local clients that already included Commonwealth Bank, Qantas and Telstra.

 

 

The Australian

Page 1: Scott Morrison is headed for a showdown with the Catholic Church over religious freedoms, as cabinet meets today to discuss draft proposals for federal laws that would protect faith-based organisations from vexatious cases launched through state anti-discrimination tribunals.

Qantas has promised residents of key regional centres they will not pay more than about $400 for a one-way airfare to the nearest capital city, under an expansion of its discounted fares program.

Page 6: Scott Morrison will capitalise on Vietnam’s growing economy and two-way trade with Australia in the midst of the damaging US-China trade war, as he shifts his attention from the Pacific to Southeast Asia to bolster strategic partnerships.

Page 8: Supporters of a constitutionally enshrined indigenous “voice” to parliament believe it remains achievable, even after Minister for Indigenous Australians Ken Wyatt explicitly rejected it last week.

Page 17: ANZ has blamed a disastrous delay in home-loan processing times at the end of last year on the merger of three different technology platforms into one, causing the lender to lose market share and crimping access to credit for customers.

Page 18: Speculation is mounting that JD Sports could be moving to place the youth-oriented retailer Glue up for sale as tough industry conditions continue to take their toll.

Jennifer Westacott has been leading the Business Council of Australia for more than eight years — and she is not going anywhere.

Page 19: Publicly listed craft brewer Gage Roads Brewing Co believes its beers are getting more recognition in a crowded market where the big brewers dominate, and is looking to ramp up volumes in 2020.

Global development and construction giant Lendlease has called the bottom of the Australian residential cycle while casting its eye further offshore, which is the backbone of its near $100 billion development pipeline.

 

 

The West Australian

Page 4: A major northern suburbs Catholic school has likened itself to Hillarys Boat Harbour as it seeks to start hiring out its facilities for public events to rake in cash.

Two shires south of Perth will share one chief executive in a bid to cut costs and increase efficiencies.

About 190,000 patients a year presenting to emergency departments with non life-threatening injuries will be able to book urgent appointments with GPs as of next month in a bid to alleviate strain on hospitals.

Crafty measuring inspectors are embarking on a nationwide pub crawl targeting bartenders making poor decisions.

Page 11: Tourism Minister Paul Papalia has called for a review of street sign criteria after red tape meant a Kalbarri business could not get directional signage for its restaurant on the tourist town’s main road.

Business: The Insurance Commission of WA is looking to sweat nearly $1 billion in cash idled by low interest rates by chasing better returns in infrastructure and other investments.

The proportion of Westpac home loan customers who are running severely behind on their home loan repayments has climbed to its highest level in more than 20 years, influenced by continuing pain in WA.

Australia’s third biggest aviation company is preparing to break free of its British parent to a new bigger spending owner, subject to approval by its customers.

Beach Energy is riding high east-coast gas prices but still sees value in the oversupplied WA market.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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