27/08/2019 - 07:00

Morning Headlines

27/08/2019 - 07:00

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Morning Headlines

Watchdog eyes CBH

Australia’s competition watchdog is taking a closer look at Co-operative Bulk Handling’s controversial request for farmers to provide private detailed paddock-specific data about their cropping programs. The West

NBN signs distribution deal with US giant Verizon

NBN Co has signed a wholesale agreement with global telecoms colossus Verizon that will open up a new frontier in the enterprise market for the government-owned broadband network. The Fin

Tax break for extra capex

A broad-based investment allowance being contemplated by the federal government would most likely only be available to businesses that increased their investment activity, and it would not come at the expense of the planned budget surplus. The Fin

Boris fast-tracks Aussie deal

Scott Morrison has struck an agreement with British Prime Minister Boris Johnson to move quickly to a post-Brexit trade deal, as Australia’s two largest trading partners, China and the US, slug it out in an escalating tariff war. The Aus

Councillors skewered

Suspended lord mayor Lisa Scaffidi called former City of Perth chief executive Gary Stevenson “a snake” and likened his January 2016 sacking to “slaying Satan”, an inquiry has heard. The West

Countdown to Costco opening

WA’s first Costco could open as early as March, with the American retail giant’s construction more than a month ahead of schedule. The West

BCA rejects criticism on climate change

The Business Council of Australia has written to institutional investors to hit back against claims by climate change activist groups that the corporate lobby group is blocking changes to tackle global warming. The Fin

Morrison urges quick end to trade feud

Prime Minister Scott Morrison has urged the US and China to call a truce in the trade war ‘‘sooner rather than later’’, saying the global economy was feeling the impact of the escalating conflict. The Fin

Viva fears hard slog to lift Coles

Fuels refiner and supplier Viva Energy has outlined a tough outlook for retail earnings in the second half as it battles fierce competition to win greater market share through its reworked Coles Alliance deal. The Aus

Don’t think uni is the only option

Employment Minister Michaelia Cash has challenged the university sector, declaring a tertiary degree is not needed to get a high-paying job. The West

 

 

The Australian Financial Review

Page 1: A broad-based investment allowance being contemplated by the federal government would most likely only be available to businesses that increased their investment activity, and it would not come at the expense of the planned budget surplus.

Page 2: Investors think financial advisers are too expensive, can’t be trusted to give independent advice and are more interested in making themselves rich than their clients’ needs, according to new ASIC analysis of a sector being rocked by structural and regulatory changes.

Page 3: Two Australian non-profits are part of the five winners of Macquarie Group’s $50 million, 50th birthday giveaway, with each to receive a $10 million slice of the award over the next five years.

Page 4: CEOs and fund managers pushed back at federal Treasurer Josh Frydenberg’s call for businesses to invest instead of buying back shares or paying out big dividends, arguing that capital allocation decisions are strictly a matter for boards and more so in a market where growth is scarce.

Page 6: The Business Council of Australia has written to institutional investors to hit back against claims by climate change activist groups that the corporate lobby group is blocking changes to tackle global warming.

Page 8: The Morrison government is set to extend a short-term loan to help Papua New Guinea refinance its debt, as the Pacific neighbour threatens to go to China or elsewhere for assistance.

Page 9: The prudential regulator will intervene to settle a quarrel over the extent to which unlisted property and infrastructure can be counted alongside bonds and cash as “defensive” assets.

Page 12: Prime Minister Scott Morrison has urged the US and China to call a truce in the trade war ‘‘sooner rather than later’’, saying the global economy was feeling the impact of the escalating conflict.

Page 15: NBN Co has signed a wholesale agreement with global telecoms colossus Verizon that will open up a new frontier in the enterprise market for the government-owned broadband network.

Page 17: Pioneer Credit has gone into a trading halt the day before full-year results, saying changes to an accounting standard foisted on the company had the potential to flip its profit forecast.

Page 19: The man originally charged with creating Australia’s national broadband network has warned recent positive financial results announcements from NBN Co are masking billions of dollars of value destroyed by misguided technology choices, which risks leaving taxpayers with huge ongoing expenses, substandard internet and a network that can’t be sold.

Page 20: New Payments Platform Australia, the real-time system owned by the big four banks and 11 other financial institutions, is under pressure to explain how almost 100,000 customers’ personal details were accessed as part of its second data breach in three months.

 

 

The Australian

Page 1: Beijing has extended an olive branch to Donald Trump in a bid to avoid a dangerous escalation of the trade war with Washington, as the US President yesterday flagged a resumption of talks amid pressure from global leaders.

Page 2: Leading businesses have called for tax reform and red-tape removal following Josh Frydenberg’s plea for investment in local production, warning that expansion plans are being “undermined” by global trade tensions and sagging competitiveness.

The Morrison government is warning superannuation funds not to put ambitious carbon reduction targets before low energy prices and the interests of retirees.

Page 6: Victorian construction union boss John Setka has hit out at rival unions for not backing him and accused critics of “cowardly, politically motivated” attacks on him.

Billionaire Chinese property developer Huang Xiangmo allegedly handed over $100,000 cash in an Aldi shopping bag to the boss of the NSW Labor Party’s head office in a possible serious breach of political donation laws.

Page 7: Scott Morrison has struck an agreement with British Prime Minister Boris Johnson to move quickly to a post-Brexit trade deal, as Australia’s two largest trading partners, China and the US, slug it out in an escalating tariff war.

Page 19: Construction materials supplier Boral has warned of a sharply lower annual profit outlook with delays in Australian infrastructure projects compounding a slowdown in the domestic residential construction market.

Page 20: Fuels refiner and supplier Viva Energy has outlined a tough outlook for retail earnings in the second half as it battles fierce competition to win greater market share through its reworked Coles Alliance deal.

 

 

The West Australian

Page 3: Leonardo DiCaprio has donated $5 million in aid to the Amazon rainforest, which is being destroyed by wildfires.

Page 6: WA has the highest rate of accidental overdose deaths involving prescription drugs in the nation, with experts claiming we’re heading towards a US-style opioid crisis.

Page 7: Suspended lord mayor Lisa Scaffidi called former City of Perth chief executive Gary Stevenson “a snake” and likened his January 2016 sacking to “slaying Satan”, an inquiry has heard.

WA Labor State secretary Matt Dixon issued a formal apology for the behaviour of party members at a chaotic State conference at the weekend, saying some delegates were more interested in political point-scoring than good government.

Page 8: Employment Minister Michaelia Cash has challenged the university sector, declaring a tertiary degree is not needed to get a high-paying job.

An audit has questioned the value for taxpayer money and accuracy of information in the Coalition Government’s advertising campaign promoting the Powering Forward energy policy.

Page 14: WA’s first Costco could open as early as March, with the American retail giant’s construction more than a month ahead of schedule.

Page 16: Australian travellers will be banned from carrying Apple MacBooks in their checked-in luggage amid fears their batteries could overheat and catch fire.

Business: Anxious investors wiped more than $30 billion off the value of Australian shares amid fears the escalating US-China trade war will cause a global recession.

Business: Australia’s competition watchdog is taking a closer look at Co-operative Bulk Handling’s controversial request for farmers to provide private detailed paddock-specific data about their cropping programs.

One of Australia’s biggest infrastructure investors has pledged to cut carbon emissions across its portfolio of airports, toll roads and electricity assets in the nation by about 10 per cent as the superannuation industry steps up its commitment to tackling climate change.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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