02/10/2019 - 06:55

Morning Headlines

02/10/2019 - 06:55

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Morning Headlines

WA seeks nominations for TAB privatisation

WA’s Department of Treasury, advised by Investec, Corrs Chambers Westgarth and PwC, has opened nominations for WA TAB’s $500 million-odd sell-off and is calling for expressions of interest by October 28. The Fin

GR braces for profit hit over $17m exposure

GR Engineering Services has put its exposure to a failed company behind the Northern Endeavour floating production vessel in the Timor Sea at more than $17 million, casting doubt over whether it will achieve a bottomline profit this year. The West

RBA one step away from QE

The Reserve Bank of Australia has cut the official interest rate to a record low 0.75 per cent and clearly signalled it will cut further in the face of what it expects to be softer employment, downside risks to the global economy and only near trend growth at home. The Fin

Too many retirement options off the table

A higher pension eligibility age and the inclusion of very expensive family homes in the assets test should be seriously examined by the retirement income inquiry, economist Chris Richardson says. The Fin

Density heats up western suburbs

The urban density debate could be heading into the heart of the western suburbs, with high-rise developer Paul Blackburne buying a major site bordering Claremont, Cottesloe and Peppermint Grove. The West

Wesfarmers underpaid staff

Fair Work Ombudsman Sandra Parker has declared Wesfarmers will be “held to account” for underpaying 6000 workers by $15m, and left open the prospect of court action over the company’s nine years of underpayments. The Aus

Telehealth centre a world leader

WA is leading the world when it comes to regional and remote healthcare with the help of a new centre providing 24/7 patient care from Perth to the country. The West

Tech firms in the crosshairs again

House Small Business Committee chair Nydia Velazquez plans to invite Amazon, Alphabet’s Google and Facebook to face questions from her committee on how the companies may be damaging the competitive landscape for small businesses. The West

Thomas Cook audit to be investigated

Britain’s accounting watchdog has opened an investigation into EY’s audit of Thomas Cook’s financial statements after the 178-yearold tour operator collapsed. The West

 

 

The Australian Financial Review

Page 1: The Reserve Bank of Australia has cut the official interest rate to a record low 0.75 per cent and clearly signalled it will cut further in the face of what it expects to be softer employment, downside risks to the global economy and only near trend growth at home.

Page 2: Text messages to credit card holders could help the more than 2 million Australian consumers struggling with personal debt, research by the federal government and Westpac has found.

Page 3: Scott Morrison is under pressure to explain what, if any, assistance Australia has provided to help Donald Trump try to torpedo the Mueller inquiry into Russian interference in the 2016 US election campaign.

Page 8: A higher pension eligibility age and the inclusion of very expensive family homes in the assets test should be seriously examined by the retirement income inquiry, economist Chris Richardson says.

Page 10: More than a dozen Subway outlets across the east coast have been caught underpaying employees as part of an investigation into the franchise network.

Page 16: Incoming Oil Search chief executive Keiran Wulff has big shoes to fill and challenges in both Alaska and the Pacific when longstanding boss Peter Botten steps down next year.

Camping and hiking gear retailer Kathmandu is taking a dip into the global $11 billion surfwear market, agreeing to buy Australian surf brand Rip Curl from founders Brian Singer and Douglas Warbrick for $350 million.

Page 17: WA’s Department of Treasury, advised by Investec, Corrs Chambers Westgarth and PwC, has opened nominations for WA TAB’s $500 million-odd sell-off and is calling for expressions of interest by October 28.

Page 18: AMA Group will expand its market share in Australia’s $5 billion crash repair industry to about 10 per cent with the $420 million acquisition of Suncorp’s Capital SMART crash repair business, increasing its network to 200 outlets in Australasia.

 

 

The Australian

Page 2: Alexander Downer says China needs to remember the economic relationship between the countries is a “two-way street”, after Chinese ambassador Cheng Jingye declared Australia owed three decades of economic success to China’s “miracle” rise.

Page 4: Retirees with more than $170bn in term-deposit investments in their self-managed super funds face another bruising cut to savings rates, which investment experts say risks forcing retirees into increasingly riskier ventures to maintain decent returns.

Page 6: The government’s plan to rely on ministerial discretion to veto the prosecution of journalists will do nothing to prevent intimidation of whistleblowers and police investigations over leaks to the media.

Page 17: TPG Telecom boss David Teoh’s proven track record as a market disrupter has been put forward by the competition regulator as the reason why it blocked the telco’s $15bn merger with Vodafone Hutchison Australia.

Page 19: Qantas has beefed up its partnership with Woolworths in a deal that will see loyalty program members earn more frequent flyer points on their grocery shop.

The corporate watchdog is seeking public input on proposed reforms to add-on insurance and warranty products sold with cars.

Fair Work Ombudsman Sandra Parker has declared Wesfarmers will be “held to account” for underpaying 6000 workers by $15m, and left open the prospect of court action over the company’s nine years of underpayments.

Page 26: Post-study work rights have delivered a boon to international student enrolments, particularly in master’s coursework programs, but the 485 visa is little understood by employers, with graduates struggling to find work in their field of study and many relegated to jobs in retail, hospitality and cleaning.

 

 

The West Australian

Page 3: Education experts have slammed the Australian Tertiary Admission Rank as a flawed and outdated measurement that should be scrapped in favour of a broader system, in a damning report out today.

Page 7: The number of frontline police in WA fell over the past year despite an increase in calls to triple-0, Crime Stoppers and the general police hotline.

Page 16: The dissatisfaction many Australian university graduates feel in regard to their tertiary education has been laid bare in a new report, with more than one in four saying they should have opted for vocational training instead.

Page 26: WA is leading the world when it comes to regional and remote healthcare with the help of a new centre providing 24/7 patient care from Perth to the country.

Business: House Small Business Committee chair Nydia Velazquez plans to invite Amazon, Alphabet’s Google and Facebook to face questions from her committee on how the companies may be damaging the competitive landscape for small businesses.

Bankwest has its first female head in 124 years with Commonwealth Bank naming Sinead Taylor to the helm of the locally founded subsidiary.

GR Engineering Services has put its exposure to a failed company behind the Northern Endeavour floating production vessel in the Timor Sea at more than $17 million, casting doubt over whether it will achieve a bottom line profit this year.

Britain’s accounting watchdog has opened an investigation into EY’s audit of Thomas Cook’s financial statements after the 178-yearold tour operator collapsed.

The urban density debate could be heading into the heart of the western suburbs, with high-rise developer Paul Blackburne buying a major site bordering Claremont, Cottesloe and Peppermint Grove.

All three tiers of government need to co-operate as part of a Perth City Deal to guide development and promote investment, the Property Council says.

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