04/09/2019 - 06:56

Morning Headlines

04/09/2019 - 06:56

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Morning Headlines

Northern Star’s bid for Echo gold project hits a snag

Northern Star Resources’ bid to take quick possession of Western Australia’s legendary Bronzewing gold project could be about to hit a snag, as a blocking stake to its 33c-a-share bid for Echo Resources emerges. The Aus

Proposed law flawed for big employers

Legal protection for large employers in draft religious freedom laws will be hard to use in practice and will be too narrow to justify firing an employee whose religious views breach their employment conditions. The Fin

Trade surplus to the rescue

Concerns that economic growth may have contracted in the June quarter have been relieved by an export surge that has produced the nation’s first current account surplus since 1975 and held back the Reserve Bank of Australia from cutting official interest rates below 1 per cent. The Fin

AFL kicks ahead with $50m profit

The AFL is heading for a profit of up to $50m this season and its 18 clubs will have a combined profit of about $40m, as the competition reaps the financial rewards of a strategic change in its funding model. The Aus

Kmart’s latest union deal thrown out

The workplace tribunal has thrown out Kmart’s latest union deal, ruling it left workers worse off than the industry minimum, in part because it locked staff into using the union’s industry superannuation fund. The Fin

Skills visa shake-up to boost economy

Australia’s skilled-migration occupation lists will be overhauled in a shake-up of foreign worker visas to drive a slowing economy and meet demand in delivering Scott Morrison’s $100bn infrastructure rollout. The Aus

BP turns loyalty on its head

Ahead of a highly anticipated float of Virgin Australia’s frequent flyer division, rival Qantas Airways has poached one of the division’s largest partners, BP Australia. The Fin

Japan says shipping levy breaches FTA

A plan by the Morrison government to apply a $100-million-a year biosecurity levy to all incoming ships has been criticised by the Japanese government as an import tariff that could violate the spirit of the free trade agreement between the two nations. The Fin

Price rise is in the Post

Australians will pay 20¢ more to send letters overseas under a slew of pricing changes to be revealed by Australia Post today. The West

Loss before tie-up

Century-old WA stockbroker Patersons Securities will go into its $25 million tie-up with Canada’s Canaccord Genuity on its first loss in three years. The West

 

 

The Australian Financial Review

Page 1: Concerns that economic growth may have contracted in the June quarter have been relieved by an export surge that has produced the nation’s first current account surplus since 1975 and held back the Reserve Bank of Australia from cutting official interest rates below 1 per cent.

Page 3: The workplace tribunal has thrown out Kmart’s latest union deal, ruling it left workers worse off than the industry minimum, in part because it locked staff into using the union’s industry superannuation fund.

Page 4: Legal protection for large employers in draft religious freedom laws will be hard to use in practice and will be too narrow to justify firing an employee whose religious views breach their employment conditions.

Page 5: A plan by the Morrison government to apply a $100-million-a-year biosecurity levy to all incoming ships has been criticised by the Japanese government as an import tariff that could violate the spirit of the free trade agreement between the two nations.

Page 6: The prospect of a structural improvement in the country’s ‘‘chronic’’ net income deficit has the potential to recast foreigners’ views of the Australian economy and its currency, experts say.

Page 8: The rising ‘‘tax concentration’’ on a small number of high-income earners has imposed ‘‘pressures’’ on the personal income tax system, including tax planning by the wealthy which risked eroding community trust, new federal Treasury research finds.

Page 9: The WA Environmental Protection Authority has pushed back its timetable for releasing new emissions guidelines to early 2020 after shelving moves to introduce a net zero emissions approval regime in March after backlash from the resources industry.

Page 10: Federal support for hydrogen projects has jumped after the Australian Renewable Energy Agency announced on Tuesday it would provide funding to commercialise a world-first technology.

Page 13: 5G technology could replace fixed-line fibre broadband as the dominant medium for high speed internet, but only if enough money is invested, Telstra’s main network equipment supplier Ericsson says.

Revealing a new buy-now, pay-later product for Harvey Norman that will challenge Afterpay and Zip, Mr Fahour said Latitude – which could be valued at over $4 billion on the public market – had become the third-largest provider of new personal loans.

Competition tsar Rod Sims has warned companies not to expect a light touch if they self-report breaches, calling a regulatory system that goes easy on companies that own up to failures ‘‘rotten’’.

Page 15: Nick Scali’s largest shareholder and major supplier, Chinese furniture company Jason Furniture (Hangzhou) Co Ltd, has sold its entire 13 per cent stake, raising questions about the retailer’s growth strategy.

Ahead of a highly anticipated float of Virgin Australia’s frequent flyer division, rival Qantas Airways has poached one of the division’s largest partners, BP Australia.

 

 

The Australian

Page 1: The AFL is heading for a profit of up to $50m this season and its 18 clubs will have a combined profit of about $40m, as the competition reaps the financial rewards of a strategic change in its funding model.

Page 2: Defence Department officials urged their new minister, Linda Reynolds, to bat away concerns about Christopher Pyne’s new job at contractor Ernst & Young by saying his post-parliamentary career and compliance with ministerial codes of conduct were “not Defence issues”.

Page 4: Australia’s skilled-migration occupation lists will be overhauled in a shake-up of foreign worker visas to drive a slowing economy and meet demand in delivering Scott Morrison’s $100bn infrastructure rollout.

More than half of all health fund members now have the most extensive — and expensive — cover, with the introduction of new insurance categories compelling many to upgrade.

Page 6: Leaders of the legal profession are to launch a renewed attack on government secrecy, with a call for fundamental law reform aimed at halting what they believe is an erosion of freedom.

Page 17: ANZ chief executive Shayne Elliott is on a heightened level of alert, saying record-low interest rates showed that policymakers were worried about the global economy’s vulnerability to shocks.

Page 18: Northern Star Resources’ bid to take quick possession of Western Australia’s legendary Bronzewing gold project could be about to hit a snag, as a blocking stake to its 33c-a-share bid for Echo Resources emerges.

Page 19: Billionaire Mike Cannon-Brookes has switched his climate crusade to one of the nation’s biggest corporate targets, demanding BHP suspend its ties with lobby groups such as the Minerals Council of Australia.

Page 22: The Papua New Guinea government will honour a $13bn LNG expansion deal signed with energy majors including Oil Search, with few substantive changes made to the accord originally sealed with deposed prime minister Peter O’Neill.

 

 

The West Australian

Page 3: Australians will pay 20¢ more to send letters overseas under a slew of pricing changes to be revealed by Australia Post today.

Page 7: Parents are “overwhelmed” and don’t know how to protect their children and themselves from online predators and hackers.

Page 9: Taxpayers have forked out more than $1.6 million for university research into Australians’ sex lives, despite the money coming from a grants program meant for job creation and economic growth.

Page 18: Controversial assisted dying laws have passed their first major hurdle as a thumping majority of Lower House MPs gave their backing to the Bill — but Labor MPs are demanding wholesale changes to legislation to prevent elder abuse and so-called suicide tourism.

Page 23: The WA real estate mogul behind a Hillarys Boat Harbour pizza restaurant that shut its doors earlier this year is facing a major legal battle over some serious dough.

Business: Century-old WA stockbroker Patersons Securities will go into its $25 million tie-up with Canada’s Canaccord Genuity on its first loss in three years.

Business leaders Gerry Harvey and Ahmed Fahour say they are confident the Australian economy will keep powering along despite concerns growth is fading.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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