01/10/2019 - 06:51

Morning Headlines

01/10/2019 - 06:51

Bookmark

Upgrade your subscription to use this feature.
Morning Headlines

Resource bosses urge action on US rare earths deal

Australia’s biggest resources chiefs have pressed the Government to urgently put some “meat on the bones” of a plan to boost sales of Australian critical minerals to the US, saying it will create more than 6000 jobs in the next five years, many of which will be based in WA. The West

Pioneer extends trading halt

Debt collection group Pioneer Credit has asked to continue a trading halt after releasing accounts which showed a 76 per cent drop in profit. The Aus

Sharp leap in Nufarm shares on $1.18b sale

Nufarm says it is getting back to basics after cutting ties with competitor-aligned supply chains in China and offloading its South American business to powerful Japanese backer Sumitomo for $1.18 billion. The Fin

Bardoc speeds ahead to golden new year

Acquisitive explorer Bardoc Gold says it has amassed a three million ounce resource at its namesake project 55km north of Kalgoorlie as it looks to expedite plans to bring it into production. The West

Major banks hit as credit growth stalls

The big banks will be forced to take a tougher line on costs as housing credit growth plumbs a new record low, business lending softens and further official rate cuts threaten earnings growth. The Aus

Latitude adds reach with Catch

Latitude Financial is teaming up with the Wesfarmers-owned online retailer Catch Group to extend the footprint of its “buy now, pay later” platform, Latitude Pay, with managing director and chief executive Ahmed Fahour confident it can dent the dominance of Afterpay. The Aus

Rate cut likely but effect ‘diminishing’

Chief executives say another cut to the official interest rate to a record low 0.75 per cent will have a diminishing effect on the economy, but political leaders are united the banks must pass on any further reduction in full. The Fin

Political split over China

The federal government has challenged Labor to spell out how it would fix the so-called ‘‘terrible’’ relationship with China as the split intensifies between the major parties over how to handle Australia’s largest trading partner. The Fin

Teoh’s honesty at centre of TPG case

TPG Telecom has put the honesty of its billionaire boss, David Teoh, at the centre of its court battle to merge with Vodafone Hutchison Australia, urging the judge to take him at his word he will never build a mobile network outside the merger. The Fin

One in three homes takes hit

More properties in Perth are selling at a loss now than at any point in recent decades, with more than one in three selling for less than their purchase price. The West

School banking scrutinised

Controversial school banking programs such as Dollarmites result in students sticking with the banks that offer them when they get older, according to research for a ground-breaking new study. The West

 

 

The Australian Financial Review

Page 1: The federal government has challenged Labor to spell out how it would fix the so-called ‘‘terrible’’ relationship with China as the split intensifies between the major parties over how to handle Australia’s largest trading partner.

Page 3: Attorney-General Christian Porter has ordered that journalists not be prosecuted without his consent for reporting on issues such as national security, defence and crime that might be uncomfortable for government.

Page 4: Chief executives say another cut to the official interest rate to a record low 0.75 per cent will have a diminishing effect on the economy, but political leaders are united the banks must pass on any further reduction in full.

Page 5: Credit for housing has recorded its lowest annual growth since records were first kept in 1977, raising concerns that people are not taking advantage of consecutive interest rate cuts.

Page 6: Unions have called on the federal government to rule out dumping increases in the superannuation guarantee or making super voluntary for low income earners following controversy over the retirement income inquiry.

Page 8: One of the power plant developers hoping to secure support through the federal government’s underwriting program for new on-demand generators has called the National Electricity Market ‘‘dysfunctional’’ in failing to drive required investment in firm supply.

Page 15: Nufarm says it is getting back to basics after cutting ties with competitor-aligned supply chains in China and offloading its South American business to powerful Japanese backer Sumitomo for $1.18 billion.

Myer is attempting to head off a shareholder revolt by tweaking its remuneration structures so that half of any short-term incentive is paid in restricted shares rather than cash.

Page 17: TPG Telecom has put the honesty of its billionaire boss, David Teoh, at the centre of its court battle to merge with Vodafone Hutchison Australia, urging the judge to take him at his word he will never build a mobile network outside the merger.

Page 20: Australia highlighted just how vulnerable the US is in the area of rare earths in an attempt to attract more investment to the local industry.

Page 23: In 30 years, tens of thousands of people will have travelled beyond the atmosphere and space will be a new frontier for manufacturing and mining, according to Virgin Galactic commercial director Stephen Attenborough.

 

 

The Australian

Page 1: Chinese ambassador Cheng Jingye says Australia should remember it depends on China for its economic success, as he urged greater “mutual respect” between the countries and a reduction in “prejudices and suspicions”.

Page 2: Labor MPs say they must win back the support of blue-collar families in Australia’s outer suburbs and regions and develop an overarching message on economic security, after opposition Treasury spokesman Jim Chalmers declared the party lost the election among “middle-ground” voters.

Page 4: As protests erupted on Indonesian streets last week over fears of a democratic wind-back, Malcolm Turnbull glided beneath the ruckus on Jakarta’s underground metro to spruik the “pride and joy of the President” in a video posted on Twitter.

Page 5: More than 40 organisations including the AFL, NRL, Swimming Australia and the Australian Olympic Committee have been asked to join the National Redress Scheme to demonstrate their commitment to “child-safe practices”.

Page 6: Clive Palmer’s failed Queensland Nickel refinery traded insolvently before administrators were called in to help save the cash-strapped Townsville operation, a court has heard.

Page 17: The big banks will be forced to take a tougher line on costs as housing credit growth plumbs a new record low, business lending softens and further official rate cuts threaten earnings growth.

The Lowy family will step back from the Australian listed market with the decision to wind down tech start-up OneMarket, which is chaired by long-time Westfield co-chief executive Steven Lowy, after a strategic review failed to secure a buyer.

Page 19: Major east coast power users and the nation’s top regulators have been called to high-level meetings over the future of AGL Energy’s Liddell coal station as a joint federal and NSW government probe assesses risks to the electricity grid from its planned exit.

Debt collection group Pioneer Credit has asked to continue a trading halt after releasing accounts which showed a 76 per cent drop in profit.

Page 21: Latitude Financial is teaming up with the Wesfarmers-owned online retailer Catch Group to extend the footprint of its “buy now, pay later” platform, Latitude Pay, with managing director and chief executive Ahmed Fahour confident it can dent the dominance of Afterpay.

 

 

The West Australian

Page 3: More properties in Perth are selling at a loss now than at any point in recent decades, with more than one in three selling for less than their purchase price.

Page 7: Daylight saving is “good for yuppies and dinks” but “not so good for mums and kids”, according to WAFarmers chief executive Trevor Whittington.

Page 10: Australia’s biggest resources chiefs have pressed the Government to urgently put some “meat on the bones” of a plan to boost sales of Australian critical minerals to the US, saying it will create more than 6000 jobs in the next five years, many of which will be based in WA.

Australia should consider nuclear power to help reduce emissions and support renewable sources, the nation’s longest-serving energy minister says.

Page 14: Suburbs in the Swan Valley could be renamed to make the wine region easier to find on a map as part of a new plan from the McGowan Government to protect the picturesque community’s character.

Business: Controversial school banking programs such as Dollarmites result in students sticking with the banks that offer them when they get older, according to research for a ground-breaking new study.

Rio Tinto has decided to scrap the sale of its Canadian iron ore business, Bloomberg has reported.

Acquisitive explorer Bardoc Gold says it has amassed a three million ounce resource at its namesake project 55km north of Kalgoorlie as it looks to expedite plans to bring it into production.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options