24/09/2019 - 07:07

Morning Headlines

24/09/2019 - 07:07

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Morning Headlines

Carnell urges notice for slow-paying contractors

CIMIC and other construction companies that fail to pay all subcontractors and suppliers within 30 days should be put ‘‘on notice’’ that they will not win any more state or federal government contracts, the Australian small business ombudsman Kate Carnell says. The Fin

Bid to open Asian doors to hydrogen sales

Australia is moving to aggressively expand the nation’s hydrogen export potential, with Resources Minister Matt Canavan signing a letter of intent with South Korea to develop an action plan with the Asian economic powerhouse by the end of the year. The Aus

Resources wealth revealed

The value of WA’s resources exports surged $30 billion to $145 billion in the 2018-19 year on the back of record sales of iron ore and gold as well as increasing LNG volumes. The West

PM push to wind back China’s trade benefits

Scott Morrison has urged that China lose its status as a developing economy and be stripped of concessions as part of an urgent reform of the global trading system. The Fin

Thomas Cook’s collapse catches Webjet in wash

The collapse of Thomas Cook, the world’s oldest travel company, has left 500,000 travellers stranded across the globe and Australian digital travel business Webjet nursing a $43.7 million loss. The Fin

Hostplus and Club Super sign deal

Hostplus and Club Super have moved a step closer to merging after the two hospitality super funds passed a key milestone by signing a successor fund transfer deed. The Aus

Battle for explorer heats up

Northern Star Resources has upped the ante in its $242.6 million battle for control of Yandal gold belt neighbour Echo Resources by declaring its offmarket cash takeover unconditional. The West

Dutton sparks WA border war

A war of words has erupted over border security, with Home Affairs Minister Peter Dutton labelling WA’s marine assets “woefully inadequate” and Police Minister Michelle Roberts blasting the characterisation as “pathetic”. The West

Avocado hotspot growing

The Canadian pension fund behind the purchase of WA’s biggest avocado operation two years ago has struck a deal to buy more land in the South West. The West

 

 

The Australian Financial Review

Page 1: Scott Morrison has urged that China lose its status as a developing economy and be stripped of concessions as part of an urgent reform of the global trading system.

Page 2: Federal Energy Minister Angus Taylor has finally announced a COAG energy council meeting will be held this year – on November 22 in Perth.

Page 6: The drag on economic growth associated with climate change will wipe 0.25 per cent a year from superannuation returns for the foreseeable future, according to the asset consultants at Frontier Advisors.

Page 8: The collapse of Thomas Cook, the world’s oldest travel company, has left 500,000 travellers stranded across the globe and Australian digital travel business Webjet nursing a $43.7 million loss.

Page 10: The Federal Court has slashed a $2.6 million penalty to car repair franchisor Ultra Tune by over half a million dollars, after it tried to blame some of its misconduct on delays from its auditors.

Page 12: Fresh from dressing down the big four consulting firms for disrupting the tax system with risky advice, ATO deputy Jeremy Hirschhorn said Australia has some of the best compliance by large corporations anywhere in the world.

Page 13: Australian researchers are awaiting confirmation technology giant Google has built the first quantum computer able to carry out major calculations, an achievement out of reach for today’s most powerful supercomputers.

Page 17: CIMIC and other construction companies that fail to pay all subcontractors and suppliers within 30 days should be put ‘‘on notice’’ that they will not win any more state or federal government contracts, the Australian small business ombudsman Kate Carnell says.

Government-owned Snowy Hydro has lifted the prices of some of its cheapest electricity offers after the partial reregulation of prices on July 1, a move that earned the ‘‘big three’’ electricity retailers criticism from the national competition regulator.

Page 19: As retailers are urged to donate surplus stock, major corporations are recycling outmoded smartphones and laptops by selling them to small businesses that resell refurbished electronics online.

Page 20: BHP chief executive Andrew Mackenzie has been accused of mounting a direct attack on the Paris climate agreement following revelations he told investors he backed the federal government’s controversial decision to use Kyoto carryover credits to meet Paris emissions reduction targets.

Page 23: Apple’s lack of innovation has caused the tech giant to slip further behind its rivals, becoming the first smartphone maker to fall beyond a three-year replacement cycle according to fresh data, as shoppers increasingly buy smartwatches instead.

 

 

The Australian

Page 1: Scott Morrison is sharpening his political agenda on the environment to focus on reducing plastic pollution in the Pacific Ocean and building a sustainable recycling program in Australia, in a bid to shift ideologically driven debate away from global climate change targets to more practical solutions.

Page 4: Nations must triple their efforts to cut greenhouse gas emissions to meet the Paris Agreement goal of limiting warming to less than 2C, a new UN-backed report warns.

Australia is moving to aggressively expand the nation’s hydrogen export potential, with Resources Minister Matt Canavan signing a letter of intent with South Korea to develop an action plan with the Asian economic powerhouse by the end of the year.

Science Minister Karen Andrews has defended Scott Morrison’s $150m space deal with NASA amid criticism from Labor frontbenchers who say the record funding would be better spent on drought relief.

Page 6: Federal Attorney-General Christian Porter will consider sanctions against sacked workers who fail to make reasonable efforts to follow through their unfair dismissal claims, after the Fair Work Commission criticised employees for wasting the resources of the tribunal and employers.

The federal government embarked on a much-publicised strategy to combat ice addiction without any way of monitoring or measuring the success of its $450m program.

Page 8: The British Labour Party will go to the next election with a firm plan — derided by critics as “an act of national self-harm’’ — to abolish all private schools and redistribute their properties and investments.

Page 9: Iran will join China and Russia in naval exercises in the Gulf of Oman as a growing alliance of anti-American powers seeks to take advantage of confusion about Donald Trump’s Middle East policies.

Page 17: The corporate regulator plans to crack down on shoddy practices in the financial advice and stockbroking market for investment accounts that give advisers discretion to act for customers, after conducting a deep dive into the industry.

Page 19: All eyes will be on Afterpay on Tuesday, with transaction watchdog Austrac set to deliver a report into the company’s compliance with anti-money laundering and counter-terrorism financing laws.

Page 20: Hostplus and Club Super have moved a step closer to merging after the two hospitality super funds passed a key milestone by signing a successor fund transfer deed.

 

 

The West Australian

Page 3: Motorists are being warned to brace for pain at the bowser with petrol prices surging to 157.1¢ per litre today — their highest level since May — in the wake of drone attacks on Saudi Arabian oil fields earlier this month.

The Australia Day air show will make a return to the Perth skies next year following a two-year ban put in place in the wake of a Swan River crash that killed two people in 2017.

Page 7: A war of words has erupted over border security, with Home Affairs Minister Peter Dutton labelling WA’s marine assets “woefully inadequate” and Police Minister Michelle Roberts blasting the characterisation as “pathetic”.

Page 11: WA public schools sought to claw back nearly $2 million in unpaid fees last year by calling in debt collectors.

Suspended City of Perth Deputy Lord Mayor Jemma Green made moves to try and suspend the chief executive on the same day the council was put on ice for dysfunction, an inquiry has heard.

Page 14: Declines in suicides, alcohol-fuelled violence and assault have been cited as positive results from Cashless Debit Card trials by the Mindaroo Foundation.

Business: The value of WA’s resources exports surged $30 billion to $145 billion in the 2018-19 year on the back of record sales of iron ore and gold as well as increasing LNG volumes.

The Canadian pension fund behind the purchase of WA’s biggest avocado operation two years ago has struck a deal to buy more land in the South West.

Woodside Energy’s mission to diversify its business has taken another step forward with the launch of a new study to determine the viability of a green hydrogen project.

Northern Star Resources has upped the ante in its $242.6 million battle for control of Yandal gold belt neighbour Echo Resources by declaring its off-market cash takeover unconditional.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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