13/09/2019 - 06:52

Morning Headlines

13/09/2019 - 06:52

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ACCC opens up fast, loose Teoh world

TPG Telecom boss David Teoh was so desperate to enter the mobile market he was prepared to make major last-minute changes to financial models to secure a Macquarie-led capital raising, the Federal Court has heard. The Fin

Gold lifts mint haul to record $4bn

The Perth Mint’s gold holdings have surged to a record value amid heightened concern about the economic outlook and the future of paper money. The Aus

Graduates scoring hefty salary jumps in the world of business

Executives who graduated from Australian MBA schools over the past three years saw their salaries rise 28 per cent to an average of $157,000 after completing the program, while Executive MBA graduates enjoyed a 44 per cent pay bump, data from the 2019 BOSS MBA Ranking shows. The Fin

Jobs axed at Pilbara Minerals amid prolonged lithium slump

Pilbara Minerals has sent its mining contractors home and cut 36 jobs from its own workforce as the lithium miner waits for the market to turn back in its favour. The Aus

Doling out suspensions

More than 80 per cent of WA welfare recipients on the Federal Government’s employment program have had their payments suspended because of failing to meet basic requirements. The West

Clean energy still small slice of nation’s electricity

Federal Energy Minister Angus Taylor has rejected claims by the Clean Energy Council that Australia’s renewable investment has stalled due to a lack of national energy policy. The Fin

Google, Facebook, Twitter hitting back

Facebook, Google and Twitter have blasted the competition watchdog’s proposed crackdown on merger laws, warning restrictions on start-ups selling to Big Tech will crush a cycle of entrepreneurs cashing in and using “exit fees” to create new companies and boost the local economy. The Fin

AusSuper enters local VC, funds alert to deals

AustralianSuper has pledged to back more growth assets in Australia via venture capital, as big industry funds increasingly looking to private deals to unlock opportunities and create new investible assets in the economy. The Fin

Ikea’s ‘slow TV’ pitch to engage Millennials

IKEA has launched a relaxing livestream video of its products being shipped from Sweden in an effort to appeal to stressed-out Millennials. The Fin

Maritime union jumps ship in bitter fall out

WA’s militant Maritime Union of Australia has dramatically cut ties with the State’s peak union body as part of the continuing fallout from the divisive State Labor Party conference last month. The West

 

 

The Australian Financial Review

Page 1: TPG Telecom boss David Teoh was so desperate to enter the mobile market he was prepared to make major last-minute changes to financial models to secure a Macquarie-led capital raising, the Federal Court has heard.

Page 3: Senior PwC partner Tom Seymour has conceded ‘‘community expectations’’ had changed around what was acceptable tax advice and said the firm would rein in the aggressiveness of its advisers and push back against clients wanting this type of advice.

Executives who graduated from Australian MBA schools over the past three years saw their salaries rise 28 per cent to an average of $157,000 after completing the program, while Executive MBA graduates enjoyed a 44 per cent pay bump, data from the 2019 BOSS MBA Ranking shows.

Luxury car sales have risen for the second month in a row, matching the recovery in the housing market, in a signal the economy could be getting back on track.

Page 4: Federal Energy Minister Angus Taylor has rejected claims by the Clean Energy Council that Australia’s renewable investment has stalled due to a lack of national energy policy.

Page 5: Businesses are being urged to engage in their own Pacific “step up”, with the Morrison government saying they have a “societal obligation” to assist the region’s economic development.

Page 6: Scott Morrison sought advice that Gladys Liu was not a national security threat before mounting a controversial defence of the marginal seat MP which included branding those raising questions as racists.

Page 8: Education experts say Friday’s COAG meeting of education ministers should look for more efficiencies and stronger results from schools, and that yet another NAPLAN review commissioned on Thursday runs the risk of being the ‘‘death by a thousand cuts’’.

Page 10: Facebook, Google and Twitter have blasted the competition watchdog’s proposed crackdown on merger laws, warning restrictions on start-ups selling to Big Tech will crush a cycle of entrepreneurs cashing in and using “exit fees” to create new companies and boost the local economy.

Page 17: AustralianSuper has pledged to back more growth assets in Australia via venture capital, as big industry funds increasingly looking to private deals to unlock opportunities and create new investible assets in the economy.

Page 18: Fund managers and equities desks are keeping a close eye on Santos shares in expectation of a potential selldown by the gas company’s biggest shareholder.

Page 19: News Corp remains committed to the long-term goal of spinning off its under-pressure Australian pay TV venture Foxtel, and sees future growth in the business coming from streaming, not from broadcasting.

Page 21: The key architects behind $1 billion ASX payments darling iSignthis were the recipients of a stock windfall worth more than $500 million at this week’s prices, but the difference between collecting this award and missing out came down to just $1,347 in revenue.

Page 24: IKEA has launched a relaxing livestream video of its products being shipped from Sweden in an effort to appeal to stressed-out Millennials.

 

 

The Australian

Page 1: An alliance of G20 nations led by Australia and Indonesia has issued an unprecedented warning over the trade war between the US and China, claiming it is putting the entire post-war multilateral system at risk of collapse.

Page 2: Employers are considering a Federal Court challenge to a Fair Work Commission decision they warn will swamp companies employing annualised salary employees in an “unprecedented level of red tape”.

The Perth Mint’s gold holdings have surged to a record value amid heightened concern about the economic outlook and the future of paper money.

The Australian Taxation Office has warned its inability to access the government’s metadata regime is undermining its ability to crack down on tax evasion and white-collar crime.

Page 4: Coal, oil and natural gas provided 94 per cent of Australia’s “primary energy” needs and 81 per cent of electricity generation last year, as the nation continues to rely heavily on fossil fuels despite a surge in renewable energy.

Page 9: States have been urged to focus on improving educational outcomes for students, rather than scrutinising the NAPLAN test, following the launch of a $1m review of the testing regimen.

Page 10: British Prime Minister Boris Johnson has faced renewed pressure to recall parliament after he was forced to reveal that a no-deal Brexit could trigger medical shortages, food price rises and major cross-channel trade delays.

Page 17: One of the world’s largest investment houses, SoftBank, is looking to turbocharge its spending in Australia’s renewable energy sector.

Page 19: The $5.2bn complementary medicines industry has warned that the competitive edge it enjoys in China is under threat as the Morrison government stalls on its promise over the use of the “Australian Made” logo.

Page 20: Pilbara Minerals has sent its mining contractors home and cut 36 jobs from its own workforce as the lithium miner waits for the market to turn back in its favour.

The competition regulator has drawn a line in the sand on agricultural deals after approving Elders’ move on a rival, signalling closer scrutiny of future activity.

 

 

The West Australian

Page 3: Powerball has jack potted to a record-breaking $150 million after the mega prize went unclaimed for the eighth week last night.

Page 6: A Perth couple detained in an Iranian prison were camping near a military base outside the capital of Tehran and have been accused of taking photographs illegally which they may have published on their travel blog.

Page 18: WA’s militant Maritime Union of Australia has dramatically cut ties with the State’s peak union body as part of the continuing fallout from the divisive State Labor Party conference last month.

Page 22: More than 80 per cent of WA welfare recipients on the Federal Government’s employment program have had their payments suspended because of failing to meet basic requirements.

Business: P&N Bank has put receivers into a legacy real estate project with builder Pindan at Two Rocks in Perth’s northern suburbs that soured its annual results.

BP plans to sell some oil projects and curb the development of others to align its business with the Paris accord, the latest sign climate concerns are starting to have an impact on the investment decisions of the world’s largest fossil fuel producers.

The corporate regulator has exercised its new production intervention power, banning a type of payday lending in which two companies work in tandem to get around Australia’s rules against extortionate interest rates.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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