06/09/2019 - 07:00

Morning Headlines

06/09/2019 - 07:00

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Morning Headlines

Mine deals to create 700 new jobs

More than 700 jobs will be created in WA after the Federal Government today announce its backing of two major State mining projects. The West

Flickers of hope spark share rally

An unexpected revival of US-China trade talks, the cooling of political mayhem in Hong Kong and the no-deal Brexit vote in the UK have helped soothe fears about the global economy and set off a rally in Asian markets. The Fin

BHP resists call to quit lobby groups

BHP has stared down calls from shareholder activists for it to quit mining lobby groups targeted by climate change campaigners, saying membership has enabled it to “lead” the global debate. The Aus

Companies on notice over loyalty schemes

The competition regulator has put big business on notice over loyalty programs that misled consumers about how easy it is to earn and redeem points and include unfair terms such as about how their data is sold. The Fin

Finally, TAB up for sale

The State-owned TAB is officially on the market after landmark legislation passed through Parliament on Wednesday night. The West

'Conflicted': warning on big auditors

The major accounting firms are “inherently conflicted” by earning hundreds of millions of dollars in consultancy fees from the same top 20 Australian companies they are hired to audit. The Fin

Infrastructure boom triggers cost blowouts: Morrison

Prime Minister Scott Morrison has hosed down the prospect of fasttracking major infrastructure projects to help stimulate the economy, saying there were already capacity constraints that were causing cost blowouts. The Fin

Miners fibbing on costs: Gold Fields

Australia’s gold miners are among some of the worst at reporting the true cost of their operations, veteran gold executive Nick Holland says. The Aus

Second bite at drug blitz

A $10 million government plan to test thousands of welfare recipients for drugs will target jobseekers in Mandurah for substances ranging from cannabis to heroin. The West

Worker’s claims of payments and deals

A Pakistani live export worker claims he was paid several thousand dollars of Australian animal activists’ money — his equivalent of a year’s pay — to film cruelty images from ships after they told him they needed vision of “suffering” sheep to force the government to “shut down the trade”. The West

Smith double sets Aussie eyes on Ashes win

A flabbergasted England side could not come up with an answer to a Steve Smith masterclass, as the Australian batsman ended with 211 on Day 2 of the Fourth Test. Australia declared at 8/497, sending England in to bat late in the afternoon. At stumps, England were 1/23.

 

 

The Australian Financial Review

Page 1: An unexpected revival of US-China trade talks, the cooling of political mayhem in Hong Kong and the no-deal Brexit vote in the UK have helped soothe fears about the global economy and set off a rally in Asian markets. 

Page 2: Prime Minister Scott Morrison has hosed down the prospect of fast-tracking major infrastructure projects to help stimulate the economy, saying there were already capacity constraints that were causing cost blowouts.

Page 3: Battery ventures including the Tesla battery in South Australia are being paid to charge up their plants, as the transition to clean energy sends wholesale power prices into negative territory on a near-daily basis.

Page 4: Former minister Christopher Pyne has told a Senate inquiry he did nothing wrong by talking to Ernst & Young about a job while serving as Defence Minister because ‘‘every Australian is entitled to look for a new job’’.

Page 7: A mix of high resource prices and rising wages has helped Australia dig itself out of an income recession and reach a record standard of living as measured by disposable income per person.

Page 12: The competition regulator has put big business on notice over loyalty programs that misled consumers about how easy it is to earn and redeem points and include unfair terms such as about how their data is sold.

Retailers will need to dramatically change their online presence as purchasing power shifts from Baby Boomers to Millennials, according to new research.

Page 14: The United States and China will hold trade talks in Washington early next month, officials from both countries said on Thursday, but new tariffs will make it difficult to find a way to end their economic clash.

Page 17: Myer chief John King has scuttled persistent rumours the department store chain will call in administrators to speed up store closures, saying it was making headway on its turnaround plan and hoped to lift profits this year after delivering its first earnings growth for nine years in 2019.

ANZ’s decision to split responsibility for its Australian operations between two executives is facing renewed questioning after it was revealed the bank lost a massive chunk of business to its rivals.

Page 19: Sigma Healthcare said its first-half profit plummeted 81.2 per cent to $2.5 million thanks to slimmer trading profits and one-off costs, including $17.3 million on its Project Pivot restructuring program.

Page 22: A gold exchange-traded fund started by Rich Lister Graham Tuckwell passed through the billion-dollar mark this week as Australian investors sought safety from market volatility.

Page 23: Defence Minister Linda Reynolds says there are heightened terrorism fears for Australian mining companies operating in West Africa.

Page 29: Sanjeev Gupta has held talks with JPMorgan to launch the first high-yield bond backed by part of his sprawling industrial empire, after plans for a sharemarket flotation of his Australian steel division foundered.

 

 

The Australian

Page 1: The major accounting firms are “inherently conflicted” by earning hundreds of millions of dollars in consultancy fees from the same top 20 Australian companies they are hired to audit.

Power stations, transport systems and industrial plants are likely to be the target of a new and potentially deadly threat from cyber attacks, forcing an overhaul of the nation’s cyber security strategy to repel state-sponsored hackers and criminals.

Page 4: Papua New Guinea Prime Minister James Marape intervened to disadvantage a power generation project part-owned by ASX-listed Oil Search, giving a leg up to a rival project linked to the country’s most senior public servant.

Page 7: Esso Australia has lost its bid to terminate an enterprise agreement covering Bass Strait offshore workers, in a significant victory for unions involved in a bitter five-year bargaining dispute with the company.

Page 8: Key certifiers used to determine whether building products are compliant say they are still being inundated by dodgy certificates for unsafe products, which are being imported into the country from overseas.

Page 19: BHP has stared down calls from shareholder activists for it to quit mining lobby groups targeted by climate change campaigners, saying membership has enabled it to “lead” the global debate.

Page 22: Australia’s gold miners are among some of the worst at reporting the true cost of their operations, veteran gold executive Nick Holland says.

Page 25: Parachutists will have to submit to drug and alcohol tests under new regulations proposed by the Civil Aviation Safety Authority.

 

 

The West Australian

Page 3: A $10 million government plan to test thousands of welfare recipients for drugs will target jobseekers in Mandurah for substances ranging from cannabis to heroin.

Page 6: A Pakistani live export worker claims he was paid several thousand dollars of Australian animal activists’ money — his equivalent of a year’s pay — to film cruelty images from ships after they told him they needed vision of “suffering” sheep to force the government to “shut down the trade”.

Page 8: The decision by City of Perth to change Christmas to be less focused on Christianity was made by internal bureaucrats, it can be revealed.

Page 9: WA motorists are facing steep increases in fines and demerit points for speeding and other driving offences, with a review of road traffic codes finding the State is lagging the country in deterrents.

Page 24: The State-owned TAB is officially on the market after landmark legislation passed through Parliament on Wednesday night.

Page 26: More than 700 jobs will be created in WA after the Federal Government today announce its backing of two major State mining projects.

Business: Scott Morrison has spruiked WA’s critical minerals sector as a priority area for growth in the wake of figures this week showing the resources sector had sustained the economy.

Millions of hectares of sandy, infertile Australian farmland could be turned into productive grazing country after a scientific breakthrough involving a South African shrub and a commercialisation deal signed this week.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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