03/09/2019 - 06:54

Morning Headlines

03/09/2019 - 06:54

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Morning Headlines

Risks soar as auditors set in stone

Some of Australia’s biggest companies have failed to change auditors for decades — in one case for 65 years — raising concerns about a heightened risk of corporate disasters under a practice that has been outlawed in Britain and Europe. The Aus

Perth still in house of pain

Perth has recorded yet another fall in house prices even as the Sydney and Melbourne property markets seem to have roared back to life. The West

Pilbara raising still unknown

Shareholders of Pilbara Minerals were still in the dark yesterday about the company’s plans to raise extra cash as it battles with soft market conditions in the lithium sector. The West

‘Look through’ soft growth

Treasurer Josh Frydenberg concedes the nation’s economic growth for the last financial year will be poor but believes activity will pick up in the September quarter because of cuts to income taxes and interest rates. The Fin

Soft skills ‘more important than English, maths’

Teaching children so-called 21stcentury soft skills, such as how to think creatively and solve global problems, should take precedence over specific subject areas such as English, mathematics and science, according to top universities responsible for training graduate teachers. The Aus

Push to break China metals dominance

Australia is looking to challenge China’s dominance in a suite of critical minerals from rare earths to magnesium used in hi-tech devices and industrial processes. The Aus

Breaking up could help Incitec, say investors

Investors have cheered a possible divestment of Incitec Pivot’s Australian fertiliser business, in the belief it could help the manufacturer avoid a credit rating downgrade and claw back ground lost to its major rival Orica. The Fin

Bigger price spikes cancel out $0 power

The increasing regularity with which wholesale power prices are sinking below $0 during sunny and windy days is being more than cancelled out by more frequent high prices, defying expectations of a softening in levels overall. The Fin

Business cash flow tax ‘would lift investment’

A business cash flow tax offering an immediate full deduction for corporate expenditure should be pursued by Treasurer Josh Frydenberg to create a ‘‘powerful’’ incentive to invest and protect the economy against recession, says economist Ross Garnaut. The Fin

 

 

The Australian Financial Review

Page 1: Treasurer Josh Frydenberg concedes the nation’s economic growth for the last financial year will be poor but believes activity will pick up in the September quarter because of cuts to income taxes and interest rates.

Page 3: Technology company Atlassian is supporting its employees to attend the School Strike for Climate later this month as a growing number of businesses and organisations throw their support behind the international student movement demanding action on global warming.

Westpac has broken ranks to back the prudential regulator’s contentious traffic light system for assessing superannuation fund performance.

Page 5: Cheap money compounded by a looming housing shortage could push property prices 20 per cent higher over the next couple of years, with competition among house hunters already ramping up just three months into a market recovery, an economist says.

Page 8: The federal government insists it will press ahead with a levy on inbound ships to fund biosecurity measures, despite having missed the second deadline for the levy’s implementation on September 1.

The increasing regularity with which wholesale power prices are sinking below $0 during sunny and windy days is being more than cancelled out by more frequent high prices, defying expectations of a softening in levels overall.

Page 9: A business cash flow tax offering an immediate full deduction for corporate expenditure should be pursued by Treasurer Josh Frydenberg to create a ‘‘powerful’’ incentive to invest and protect the economy against recession, says economist Ross Garnaut.

Page 10: The major banks have come under renewed pressure to slice foreign exchange fees, after the competition regulator found customers could have saved $150 million in fees last year if money was transferred overseas via lower-cost competitors to the big four.

Page 12: Investors have cheered a possible divestment of Incitec Pivot’s Australian fertiliser business, in the belief it could help the manufacturer avoid a credit rating downgrade and claw back ground lost to its major rival Orica.

Telstra will get some unexpected relief from the forced migration of its customers to the national broadband network, following revelations NBN Co is expecting a slower migration of customers onto its network.

Page 16: IOOF could renegotiate its deal to buy ANZ’s pension and investments arm for $345 million less following widespread disruption to the funds management industry in the aftermath of the Hayne royal commission.

Page 17: Queensland craft brewer Green Beacon has been booted out of the national organisation overseeing the interests of hundreds of small craft brewers, as that same group raises concerns with the competition regulator about Asahi’s looming $16 billion buyout of Carlton & United Breweries.

 

 

The Australian

Page 1: Some of Australia’s biggest companies have failed to change auditors for decades — in one case for 65 years — raising concerns about a heightened risk of corporate disasters under a practice that has been outlawed in Britain and Europe.

Page 4: Pushing skilled migrants into regional areas threatens to stall the critical infrastructure construction pipeline that will ease congestion in Australia’s big cities, consultancy giant EY says.

Page 5: Scott Morrison has warned that the Australian economy entered a rough patch in the June quarter as the government braces for data that could show the weakest economic growth rate since the global financial crisis or the 1990s recession.

Page 6: Teaching children so-called 21st century soft skills, such as how to think creatively and solve global problems, should take precedence over specific subject areas such as English, mathematics and science, according to top universities responsible for training graduate teachers.

Agriculture Minister Bridget McKenzie has warned that African swine fever — a lethal, highly contagious pig disease sweeping Europe and Asia — could devastate the nation’s $1.3 billion pork industry if it reaches Australia.

Page 17: Australia is looking to challenge China’s dominance in a suite of critical minerals from rare earths to magnesium used in hi-tech devices and industrial processes.

Page 19: SodaStream, the drink maker that provides more than 1.5 billion litres of homemade sparkling water a year, is generating record growth in Australia, making it one of the top-three performing regions in the world for the brand.

Page 20: Australia’s nickel miners and explorers received a fresh shot in the arm this week, surging on the back of reports the Indonesia government has banned exports of low-grade nickel ore, raising the prospect of big shortfalls of the commodity.

 

 

The West Australian

Page 3: Perth has recorded yet another fall in house prices even as the Sydney and Melbourne property markets seem to have roared back to life.

Page 5: Julie Bishop and Christopher Pyne will appear before a Federal parliamentary inquiry into their compliance with ministerial rules.

Page 8: Premier Mark McGowan has dismissed claims from former Labor leader Brian Burke about a lack of talent and ability among the current crop of State Government ministers.

Page 10: The genes of babies conceived through IVF are affected differently at birth, but by adulthood these differences have been corrected, new research has found.

Business: A Chinese face-swap app, Zao, is taking over the internet but user delight at the prospect of becoming instant superstars has quickly turned sour as privacy implications have begun to sink in.

Shareholders of Pilbara Minerals were still in the dark yesterday about the company’s plans to raise extra cash as it battles with soft market conditions in the lithium sector.

Queensland mining companies have flagged blacklisting suppliers who buckle to noisy activists in a bid to ensure their projects are not held to ransom.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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