09/10/2019 - 06:53

Morning Headlines

09/10/2019 - 06:53

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Morning Headlines

US, Canberra chase rare earth China foil

The joint development of rare earths and other critical mineral deposits, which are vital to national security, will be the subject of talks during the visit to Australia this week by US Commerce Secretary Wilbur Ross. The Fin

Alcoa targets more job cuts

Alcoa is expected to cut more jobs at its WA operations as part of an international restructure that last month claimed the scalps of its two highest ranking Perth-based staff. The West

Doubts about Fortescue’s Simandou bid

Analysts have delivered a downbeat assessment of Fortescue Metals Group’s plans to enter the hunt to monetise Guinea’s massive iron ore reserves through chasing a stake in Simandou, suggesting investors are unlikely to react well to the massive capital spending required or the risks of operating in the west African nation. The Aus

Schott chides Taylor over coal

Federal Energy Minister Angus Taylor is doubling down on a push to extend the life of coal power generators and provide incentives for new gas and pumped hydro plants, setting the Morrison government on a collision course with its top energy policy adviser who has deemed such moves as ‘‘ill-advised’’. The Fin

ALP pushes new climate deal

Opposition resources minister Joel Fitzgibbon will call on Labor to reach a “sensible settlement” on climate change and adopt the Morrison government’s 2030 emissions reduction target, arguing that the policy shift would lift the party’s support in working class and regional areas. The Aus

Court ruling could tame wave of IR class actions

A landmark Federal Court ruling could have a chilling effect on the recent wave of multimillion-dollar employment class actions by requiring that litigation funders stump up costs before the legal action. The Fin

Spotless Laundries pitches a new one-two

Spotless has kicked off the sale of its commercial laundries business, telling private equity firms and other interested parties it should make close to $60 million earnings in the 2020 financial year. The Fin

BHP: emissions push will protect demand

BHP concedes it cannot force its customers to reduce their greenhouse gas emissions but says work to reduce its scope 3 emissions is about ‘‘protecting demand’’ for its products. The Fin

Warning Afterpay faces price short-circuit

Australian “buy now, pay later” darling Afterpay could soon see its wings cut, with one tech pundit predicting the disrupter and its peers will run out of steam. The Aus

Poms just can’t get enough of the West

The number of international holiday-makers coming to WA has hit an all-time high, with new data revealing Britons continue to make up the majority of overseas visitors. The West

 

 

The Australian Financial Review

Page 1: Federal Energy Minister Angus Taylor is doubling down on a push to extend the life of coal power generators and provide incentives for new gas and pumped hydro plants, setting the Morrison government on a collision course with its top energy policy adviser who has deemed such moves as ‘‘ill-advised’’.

Page 3: The joint development of rare earths and other critical mineral deposits, which are vital to national security, will be the subject of talks during the visit to Australia this week by US Commerce Secretary Wilbur Ross.

Page 6: The gentle turning point in the economy observed by the Reserve Bank of Australia last week is starting to show up in improved business conditions due to an uptick in trading, profitability, forward orders and employment intentions.

Page 9: A landmark Federal Court ruling could have a chilling effect on the recent wave of multimillion-dollar employment class actions by requiring that litigation funders stump up costs before the legal action.

Page 12: iSignthis says it has no obligation to disclose further information about its second-largest shareholder, British Virgin Islands-registered Red 5 Solutions, after revealing this week its managing director’s brother is a shareholder of Red 5, but not the sole owner of the mysterious entity.

Page 13: Spotless has kicked off the sale of its commercial laundries business, telling private equity firms and other interested parties it should make close to $60 million earnings in the 2020 financial year.

Page 17: BHP concedes it cannot force its customers to reduce their greenhouse gas emissions but says work to reduce its scope 3 emissions is about ‘‘protecting demand’’ for its products.

Page 25: Iron ore prices are set to weaken substantially across the next 12 months, as reduced demand from China and the restoration of production at Vale’s Brazilian mine weighs on the bulk.

 

 

The Australian

Page 1: Opposition resources minister Joel Fitzgibbon will call on Labor to reach a “sensible settlement” on climate change and adopt the Morrison government’s 2030 emissions reduction target, arguing that the policy shift would lift the party’s support in working class and regional areas.

Page 2: Chief of Navy Michael Noonan has left open the prospect of some of Australia’s 12 Future Submarines being nuclear powered, amid ongoing questions over the government’s decision to purchase the world’s biggest and most expensive conventionally powered subs.

Page 4: Attorney-General Christian Porter is facing a growing backlash against the government’s proposed religious freedom bills, as the business sector says the laws could increase conflict and disharmony in Australian workplaces and impose a regulatory burden on organisations.

Page 5: Public hospitals will be audited to determine the extent of illegal Medicare billing — which some have estimated at more than $300m a year — and the states want individual doctors to take the blame.

Page 8: Hong Kong Chief Executive Carrie Lam has warned that the Chinese military could step in if an uprising for democratic reforms that has rocked the city for months “becomes so bad” but reiterated the government still hopes to resolve the crisis itself.

Page 17: Landbridge Infrastructure, the owner of Darwin Port, has secured a $250m long-term loan to fund a hotel development and quayline extension after a surge in activity driven by LNG exports lifted its earnings.

Page 19: The listed REA Group is putting its prowess in Asian markets on display, unveiling a deal to set up a joint venture with 99.co, the Singapore-headquartered digital property marketplace, that will count Facebook co-founder Eduardo Saverin as a backer.

Page 20: Analysts have delivered a downbeat assessment of Fortescue Metals Group’s plans to enter the hunt to monetise Guinea’s massive iron ore reserves through chasing a stake in Simandou, suggesting investors are unlikely to react well to the massive capital spending required or the risks of operating in the west African nation.

Page 21: Australian “buy now, pay later” darling Afterpay could soon see its wings cut, with one tech pundit predicting the disrupter and its peers will run out of steam.

 

 

The West Australian

Page 9: Australia will lobby Donald Trump’s Commerce Secretary Wilbur Ross for US dollars to fund a new major rare earth mine possibly, in WA, during meetings with the top official this week.

Page 11: A Perth council could be set for a high-rise boom with 20-storey apartments on the cards as part of the Golden Gateway project.

Page 20: The number of international holiday-makers coming to WA has hit an all-time high, with new data revealing Britons continue to make up the majority of overseas visitors.

Page 25: The European Union has accused Britain of playing a “stupid blame game” over Brexit after a Downing Street source said a deal was essentially impossible because German Chancellor Angela Merkel had made unacceptable demands.

Business: Alcoa is expected to cut more jobs at its WA operations as part of an international restructure that last month claimed the scalps of its two highest ranking Perth-based staff.

Carnarvon Petroleum boss Adrian Cook says the Dorado oil field could be part of a new oil and gas basin on the North West Shelf.

Smartphones could one day have a “made from West Australian mining” tag on them as investors increasingly demand the world’s biggest tech companies be up-front about where they source material from.

A new project aims to turbocharge WA’s northern horticulture industry by encouraging growers to invest in commercial scale greenhouses to grow premium vegetables for high-value markets. German pharmaceutical giant Bayer has defended allegations that pesticides are affecting bee populations around the globe, saying a tiny parasite is having a far bigger impact on health and numbers.

The West Perth office market is feeling the pinch from remote-working practices and new supply, according to Ray White research.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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