05/09/2019 - 06:59

Morning Headlines

05/09/2019 - 06:59

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Morning Headlines

Grass is greener as BHP and Rio swap partners

Long-standing technology partnerships in Australia’s iron ore heartland are being abandoned as big miners choose new autonomous truck providers for the multibillion-dollar mines now under construction. The Fin

Coogee eyes $500m methanol project in Darwin industrial hub

The Northern Territory government’s ambitions to take advantage of its plentiful gas resources to spur a manufacturing hub around Darwin have taken a leap forward with the news that Western Australia’s Coogee Chemicals is studying a potential $500 million methanol project. The Fin

Treasurer holds nerve on growth

The Morrison government is resisting calls for a short-term fiscal stimulus to the softening economy, instead putting more pressure on the Reserve Bank of Australia to cut interest rates and offering an investment tax incentive in next year’s budget. The Fin

Wesfarmers has faith in $1.5b lithium plunge

Wesfarmers is putting a brave face on its near $1.5 billion plunge into a falling lithium sector ahead of a crucial vote by shareholders in takeover target Kidman Resources. The Fin

$150 million solar farm plan gains energy

Plans to build a $150 million solar farm in Benger have cleared the first hurdle in the development process, paving a clear path for the South West to become a clean energy leader. The West

Incitec defends fertiliser sale timing

Incitec Pivot boss Jeanne Johns has defended the company’s decision to put its agricultural business on the block at the bottom of the market, saying any negotiations over price will factor in the division’s potential earnings. The Aus

Remote housing tax breaks face chop

Employer concessions of up to $430 million for remote area housing would be halved under the recommendations of a draft Productivity Commission report released on Wednesday. The Fin

No new carrots for businesses before budget

The government will offer new tax incentives to encourage business investment but they will not be announced until next year’s May budget, Treasurer Josh Frydenberg has said. The Fin

Tech worth $207b a year by 2030

The tech sector has armed itself with a new report showing it could contribute up to $207 billion a year to the economy by 2030, as it battles for a more favourable policy approach from the government. The Fin

Maiden partnership saves face on Day 1

After the first-over wicket of David Warner, Australia were in trouble at 2/28 after seven overs, until a maiden international partnership between Marnus Labuschagne and Steve Smith added 116 runs to keep Australia in the mix. Labuschagne scored 67 before being bowled out as the first day of the Fourth Test ended with Australia on 3/170.

 

 

The Australian Financial Review

Page 1: The Morrison government is resisting calls for a short-term fiscal stimulus to the softening economy, instead putting more pressure on the Reserve Bank of Australia to cut interest rates and offering an investment tax incentive in next year’s budget.

Page 3: The government is close to securing the passage of legislation making it easier to deregister rogue unions and officials after the Centre Alliance said it was confident of winning a number of changes in return for voting for the bill.

Medibank Private has rescinded its membership of the Business Council of Australia, citing the need to cut costs.

Page 6: Employer concessions of up to $430 million for remote area housing would be halved under the recommendations of a draft Productivity Commission report released on Wednesday.

Page 9: The government will offer new tax incentives to encourage business investment but they will not be announced until next year’s May budget, Treasurer Josh Frydenberg has said.

The tech sector has armed itself with a new report showing it could contribute up to $207 billion a year to the economy by 2030, as it battles for a more favourable policy approach from the government.

Page 11: BHP and global energy giants have warned the Morrison government that any tax rise on their offshore petroleum projects would deter investment, in response to a new Treasury review.

Page 17: The corporate regulator has ramped up its litigation against lenders, taking Bank of Queensland and Bendigo and Adelaide Bank to court over 20,000 loans to small businesses with allegedly unfair contract terms.

Page 19: Telstra says it will do more deals with NBN Co’s enterprise segment as businesses increasingly demand fibre connectivity over copper.

Page 20: The boss of the Australian operations of German discount retailer Kaufland says the group will win over local customers because of its ‘‘one-stop shop model’’ of cheaper groceries and general merchandise.

Page 22: Long-standing technology partnerships in Australia’s iron ore heartland are being abandoned as big miners choose new autonomous truck providers for the multibillion-dollar mines now under construction.

Wesfarmers is putting a brave face on its near $1.5 billion plunge into a falling lithium sector ahead of a crucial vote by shareholders in takeover target Kidman Resources.

Quadrant Private Equity’s $400 million growth fund has made its second-ever investment, targeting families hoping to get their child to sleep like a baby.

Page 23: The Northern Territory government’s ambitions to take advantage of its plentiful gas resources to spur a manufacturing hub around Darwin have taken a leap forward with the news that Western Australia’s Coogee Chemicals is studying a potential $500 million methanol project.

 

 

The Australian

Page 1: Nine chief executive Hugh Marks has admitted that hosting a $10,000-a-head Liberal fundraising event was a “mistake” after a widespread backlash from current and former editors.

Page 2: Home Affairs Minister Peter Dutton has lashed out at Anthony Albanese’s response to Australia’s asylum-seeker policy, saying his contradictory position on deporting those who don’t qualify as refugees reinforces why Labor “cannot be trusted” on Australian borders.

Page 4: CFMEU national secretary Michael O’Connor and officials of the union’s manufacturing division are moving out of its Victorian head office because of mounting conflict with John Setka.

Page 5: BP’s sacking of a technician for sharing a Downfall parody video the company said compared its managers to Nazis has been upheld by the Fair Work Commission.

Page 9: Hong Kong leader Carrie Lam has withdrawn an extradition bill that triggered months of often violent protests, saying the city can move forward from a “highly vulnerable and dangerous” place and find solutions.

Page 17: Josh Frydenberg has raised the prospect of an overhaul of the Reserve Bank’s inflation target, a move that would mark the first shake-up in almost three decades of consistent cash rate policy.

Jack Dorsey, the founder and head of the billion-dollar US tech majors Twitter and Square, says he’s watching the fast-growing buy now, pay later space with interest but wouldn’t be drawn on whether he’ll be rolling out his instalment payments business locally.

Page 20: Incitec Pivot boss Jeanne Johns has defended the company’s decision to put its agricultural business on the block at the bottom of the market, saying any negotiations over price will factor in the division’s potential earnings.

 

 

The West Australian

Page 3: Noongar elder Robert Isaacs says renaming Stirling Highway to erase its links to WA’s colonial past is not a priority in trying to close the gap for Aboriginal people.

Page 4: WA’s recovering mining and exploration industries have emerged as the saving grace for the country’s economy.

Page 7: Perth has failed to break into the top 10 most liveable cities in the world, maintaining its No. 14 ranking for the second successive year despite the addition of major drawcards such as Optus Stadium and Elizabeth Quay.

Page 10: Entry fees for 32 national parks across WA have risen between 14 and 30 per cent.

Page 12: Christmas and new year in the CBD may soon include “a more diverse offering” to ensure celebrations are “representative and inclusive” of Perth’s multicultural communities.

Page 16: WA’s biggest medicinal cannabis and hemp hub is planned for Collie.

Plans to build a $150 million solar farm in Benger have cleared the first hurdle in the development process, paving a clear path for the South West to become a clean energy leader.

Business: High-end women’s fashion label Karen Millen is set to disappear from Australia after joining the growing number of retail collapses.

A second grain-train derailment at Miling in three months has prompted renewed calls for much-needed track upgrades in the area.

South Korean workers fed up with bullying are being increasingly emboldened by a new tougher labour law to secretly record abuse or harassment by bosses, boosting sales of high-tech audio and video devices.

A subdued domestic economy and increasing risks from an uncertain global outlook has Australian companies taking a cautious view of the year ahead.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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