12/09/2019 - 06:42

Morning Headlines

12/09/2019 - 06:42

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Morning Headlines

TPG’s David Teoh admits 5G plans were vague

TPG Telecom boss David Teoh has been forced to admit his company never had budgeted plans to build a 5G network, as the competition watchdog attempts to justify its decision to block the $15 billion merger with Vodafone Hutchison Australia. The Fin

Builder v designers in battle of Optus

A major financial battle is about to erupt in court between the multinational construction company that built WA’s award-winning Optus Stadium and the architects and engineers who dreamt up the design. The West

Search for partner on Equus gas

Western Gas says it is keeping an open mind as it begins the hunt for bigger, cashed-up partners to help develop its $US3.5 billion ($5.1 billion) Equus gas project 200km off the coast of Onslow. The West

Samuel puts heat on ANZ to fess up

Veteran adviser and former regulator Graeme Samuel has challenged ANZ chairman David Gonski to release the bank’s prudential self-assessment, saying the decision to keep it secret was out-of-touch and ‘‘suspicious’’. The Fin

Red-tape cuts to get nation moving

The Coalition government has put major infrastructure projects at the centre of a new deregulation agenda amid calls to bring forward spending on road, port and rail projects to boost economic growth. The Aus

Business warns about religious freedom bill

Big business is warning the proposed religious freedom law poses “significant” commercial challenges to firms and will give employees too much latitude to use social media to breach company policies. The Fin

ALP push for carbon target cut

Labor’s contentious 2030 climate target to cut emissions by 45 per cent could be scrapped, amid concerns an Albanese government would not have time to achieve such a reduction if elected at the next poll, due in 2022. The Aus

Investors reap $29b dividends

Shareholders in Australia’s top 200 companies are being showered with $29.2 billion in dividends in the second half of the year despite tougher operating environments, research by Commsec has found. The West

State leads regenerative farming push

Agriculture Minister Alannah MacTiernan has revealed a series of changes in her department to encourage the State’s farmers to adopt regenerative farming techniques. The West

Eviction risk as deal fails

The collapse of a deal to rescue a key Sterling First subsidiary has put dozens more retirees at risk of immediate eviction as the first of what could be a string of legal actions got under way in Mandurah. The West

 

 

The Australian Financial Review

Page 1: Veteran adviser and former regulator Graeme Samuel has challenged ANZ chairman David Gonski to release the bank’s prudential self-assessment, saying the decision to keep it secret was out-of-touch and ‘‘suspicious’’.

TPG Telecom boss David Teoh has been forced to admit his company never had budgeted plans to build a 5G network, as the competition watchdog attempts to justify its decision to block the $15 billion merger with Vodafone Hutchison Australia.

Page 2: Apple’s big annual reveal of its latest and greatest devices and services has done little to assuage the growing feeling that the smartphone pioneer has passed the baton for innovation to its rivals.

Page 4: Big business is warning the proposed religious freedom law poses “significant” commercial challenges to firms and will give employees too much latitude to use social media to breach company policies.

Page 6: The corporate regulator has 86 royal commission-related investigations under way relating to the big four banks and AMP.

Page 8: The big four consultants harbour a small number of arrogant partners who disrupt the tax system with overly risky advice, warned ATO second commissioner Jeremy Hirschhorn.

Page 10: Economists are growing anxious that tax cuts are not showing enough of a stimulatory effect and that consumers will save more and spend less than first thought.

Page 12: Trade Minister Simon Birmingham has rebuked Delhi for increasing sugar production subsidies, labelling the Modi government policy disappointing and inconsistent with its international trade obligations.

Page 17: Whitehaven Coal says the quality of its product will protect it from a shrinkage in global demand should nations agree to cut their carbon emissions to curb global warming under the Paris climate agreement.

Page 21: BHP has avoided a shareholder resolution on the carbon emissions of its customers, after a promise to set targets for its ‘‘Scope 3’’ emissions satisfied climate campaigners.

Page 24: Elders boss Mark Allison says there is potential for a national fertiliser business to emerge from the likely break up of Incitec Pivot’s assets.

The world’s second-largest producer of lithium plans to invest $US1.33 billion ($2 billion) to boost output, undeterred by the short-term demand weakness and oversupplied market that have sent prices of the raw material tumbling to a two-year low.

 

 

The Australian

Page 1: Labor’s contentious 2030 climate target to cut emissions by 45 per cent could be scrapped, amid concerns an Albanese government would not have time to achieve such a reduction if elected at the next poll, due in 2022.

Page 2: The Reserve Bank has slapped down rich baby boomers complaining about the impact of low interest rates on their incomes, suggesting only a “single digit” percentage of over-60s rely significantly on interest income, and many of them are well off.

The Coalition government has put major infrastructure projects at the centre of a new deregulation agenda amid calls to bring forward spending on road, port and rail projects to boost economic growth.

Page 6: Younger people living in aged care in Australia is a “significant human rights issue” which must be brought to an end, Disability Discrimination Commissioner Ben Gauntlett says.

Page 17: The $700bn industry super fund sector is prepared to help finance a range of new infrastructure projects to help stimulate the economy, according to Sam Sicilia, the chief investment officer of the $43bn Hostplus fund.

Page 19: Australian tech software company Atlassian has launched a free diversity tool in a bid to help teams move beyond “all male” or “all white” compositions and reach their targets.

Page 21: The $160bn Future Fund says private equity managers should not take a surplus of capital in the markets for granted, warning that it was looking for managers who could last the long term when the pendulum swung back the other way.

 

 

The West Australian

Page 5: A senior Perth doctor has accused the Australian Medical Association of WA of wrongly claiming to represent all physicians in the State in the controversial debate on voluntary assisted dying.

Page 9: A major financial battle is about to erupt in court between the multinational construction company that built WA’s award-winning Optus Stadium and the architects and engineers who dreamt up the design.

Page 11: The Morrison Government is under pressure to launch a full-blown investigation of Chinese-Australian MP Gladys Liu’s links to Beijing, with even its own parliamentarians voicing concerns.

Page 16: The National Rugby League will start its 2020 season in Perth, with the resurrected nines festival to be staged at HBF Park in mid-February.

Page 18: Beaufort Street has been rocked by yet another shop closure, with local fashion boutique Billie & Rose pulling up stumps.

Business: The collapse of a deal to rescue a key Sterling First subsidiary has put dozens more retirees at risk of immediate eviction as the first of what could be a string of legal actions got under way in Mandurah.

Investors have burst helium hopeful Big Star Energy’s balloon after taking nearology to almost Rocky Mountain highs.

Western Gas says it is keeping an open mind as it begins the hunt for bigger, cashed-up partners to help develop its $US3.5 billion ($5.1 billion) Equus gas project 200km off the coast of Onslow.

Agriculture Minister Alannah MacTiernan has revealed a series of changes in her department to encourage the State’s farmers to adopt regenerative farming techniques.

Shareholders in Australia’s top 200 companies are being showered with $29.2 billion in dividends in the second half of the year despite tougher operating environments, research by Commsec has found.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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