11/09/2019 - 06:47

Morning Headlines

11/09/2019 - 06:47

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Morning Headlines

WA eyes TAB sale as $1.4b deal sealed 

The Western Australian government and adviser Investec will turn their attention to selling the state’s TAB after completing a long-awaited partial privatisation of its land registry. The Fin 

Foreign students abandon west 

Foreign students are deserting Western Australia as a place to study, and education experts say the commonwealth’s new incentive scheme for students to move to regional cities is likely to be the nail in the coffin for the industry. The Aus 

Too late for 5G network, TPG warns 

TPG Telecom and Vodafone Hutchison Australia have hit back at the competition regulator’s assertions that they can take on Telstra and Optus as independent mobile operators in the opening salvo of their court bid to revive their $15bn merger. The Aus 

Teachers well rewarded as pupils’ scores decline 

Australian school teachers are among the highest paid in the OECD, earning 22 to 36 per cent more than the average – a finding that comes just after NAPLAN results showed reading, writing and grammar scores have fallen in the past 10 years, and international PISA results in science, maths and reading have collapsed since 2000. The Fin 

US on brink of budget, social crises 

The fast-deteriorating record of debt, deficits and inequality in Donald Trump’s United States is creating an unprecedented policy challenge that left unattended will ‘‘profoundly shake’’ the very core of the country’s financial, political and social fabric, says Australia’s diplomatic envoy to New York. The Fin 

 

Nation weaning itself off benefits 

Australia’s welfare bill has plateaued at $160 billion a year over the past three years, helped by the shelving of family tax benefit payments and the schoolkids’ bonus, but per-person expenditure on welfare still sits at $6482 a year, up from $5287 a year two decades ago. The Aus 

Cbus eyes $1b infrastructure investment 

Construction industry superannuation fund Cbus is targeting an additional $1 billion in infrastructure projects in Australia and overseas in the belief the asset class will fortify returns if bonds and cash continue to disappoint. The Fin 

 

Projects rollout up to states, says PM 

Scott Morrison has said his government is committed to delivering major infrastructure projects more quickly, but has cautioned that the rollout of the $100bn pipeline depends on the co-operation of the states and territories. The Aus 

 

Virgin could get in way of Velocity deal 

Virgin Australia’s frequent-flyers program Velocity may be one of the most hotly sought after float candidates amid the current initial public offering pipeline, but fund managers could be in for a big dose of disappointment. The Aus 

 

 

The Australian Financial Review 

Page 1: The fast-deteriorating record of debt, deficits and inequality in Donald Trump’s United States is creating an unprecedented policy challenge that left unattended will ‘‘profoundly shake’’ the very core of the country’s financial, political and social fabric, says Australia’s diplomatic envoy to New York. 

Page 3: Australian school teachers are among the highest paid in the OECD, earning 22 to 36 per cent more than the average – a finding that comes just after NAPLAN results showed reading, writing and grammar scores have fallen in the past 10 years, and international PISA results in science, maths and reading have collapsed since 2000. 

Page 5: Tax cuts and interest rate cuts are not having the intended effect on consumption, according to two of the most reliable business surveys, which both point to a further deterioration in the economy. 

Page 8: Bill Shorten has acknowledged that Labor will need to jettison some policies, as Anthony Albanese warns his MPs that the party will lose the next election if it does not change tack. 

Page 9: Construction industry superannuation fund Cbus is targeting an additional $1 billion in infrastructure projects in Australia and overseas in the belief the asset class will fortify returns if bonds and cash continue to disappoint. 

Page 13: Deloitte’s CEO Richard Deutsch told the firm’s annual partners’ meeting the big four consulting company is ‘‘within striking distance of’’ becoming as big as his former firm PwC, while demanding that anyone leaking information should leave the firm if they are unhappy. 

Page 14: Australian miners may find their Chinese customers have reduced buying power on the back of a weakening Chinese currency, after Syrah Resources nominated currency depreciation as a factor driving down prices for its graphite. 

Page 17: Supermarket shoppers are at risk of succumbing to ‘‘collectables fatigue’’ as Woolworths launches a new promotion on Wednesday, three weeks after wrapping up its Lion King Ooshies giveaway. 

Page 18: The Western Australian government and adviser Investec will turn their attention to selling the state’s TAB after completing a long-awaited partial privatisation of its land registry. 

Page 20: Chinese lithium giant Tianqi has put on hold plans to complete a second stage of Australia’s first lithium hydroxide plant after feeling the effects of sharp growing pains in the sector. 

 

 

The Australian 

Page 1: The Labor Party is fracturing internally under pressure from leftwing activists and the centre-right Coalition as the Australian public drifts away from ideological antimining protests and GetUp’s progressive social agenda. 

Page 2: Scott Morrison has said his government is committed to delivering major infrastructure projects more quickly, but has cautioned that the rollout of the $100bn pipeline depends on the co-operation of the states and territories. 

Page 6: About 10 per cent of the 5000 welfare recipients trialled under the government’s random drug tests could fail a test, said Social Services Minister Anne Ruston, as she comes under pressure to reveal how much the tests will cost and who will oversee them. 

Page 8: Australia’s welfare bill has plateaued at $160 billion a year over the past three years, helped by the shelving of family tax benefit payments and the schoolkids’ bonus, but per-person expenditure on welfare still sits at $6482 a year, up from $5287 a year two decades ago. 

Fewer Australians are working gruelling hours, as the lure of part-time work and a comfortable work-life balance shifts our concept of the working week. 

Page 17: TPG Telecom and Vodafone Hutchison Australia have hit back at the competition regulator’s assertions that they can take on Telstra and Optus as independent mobile operators in the opening salvo of their court bid to revive their $15bn merger. 

Page 18: Virgin Australia’s frequent-flyers program Velocity may be one of the most hotly sought after float candidates amid the current initial public offering pipeline, but fund managers could be in for a big dose of disappointment. 

Page 19: Foxtel has overhauled its entertainment line-up with the creation of four new Fox-branded channels. 

Page 25: Foreign students are deserting Western Australia as a place to study, and education experts say the commonwealth’s new incentive scheme for students to move to regional cities is likely to be the nail in the coffin for the industry. 

 

 

The West Australian 

Page 4: Federal Liberal MP Gladys Liu has refused to call China’s actions in the South China Sea “theft” in a gaffe-prone interview in which she claimed she could not remember being a member of organisations linked to the Chinese Communist Party. 

Page 8: The Corruption and Crime Commission has fired another salvo in its fight with WA’s Upper House, serving a notice on the Clerk of the Legislative Council to hand over documents as part of an investigation of alleged travel rorts. 

Page 18: Defence top brass hold concerns that South Australia’s unstable power network could pose a danger to the construction of billions of dollars of submarines and warships in the State. 

Page 24: Total national spending on schools and TAFE has fallen over the past decade, prompting calls for more funding — especially for public schooling. 

Business: Jack Ma is giving up the reins of Alibaba after presiding over one of the most spectacular creations of wealth ever seen. 

Alcoa’s two senior Perth executives are leaving the group after a restructuring scrapped their jobs. 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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