10/10/2019 - 05:57

Morning Headlines

10/10/2019 - 05:57

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Morning Headlines

Perth mall deal could break record

Momentum is building towards what could become the country’s largest single shopping centre deal as bids are sharpened for the $1.2 billion Garden City mall in Perth. The Fin

Big energy: big-stick rules hamper ‘firm’ investment

The National Electricity Market is trapped in a stand-off between government and industry as energy giants blame market intervention and a lack of long-term energy and climate policy for a drought in new on-demand power plants. The Fin

Brookfield mulls its options for Perth holdings

Canadian property giant Brookfield is reviewing its holdings in the WA capital as its workbook swells and investors chase an exposure to the resources city. The Aus

Primewest plots listing worth $100m

Western Australia-based property syndicator and developer Primewest will tap the market for $100m for its initial public offering at $1 per share. The Aus

New global tax system to target tech giants like Uber, Google

Tech giants like Google and Uber would be forced to pay increased tax based on their huge turnovers under proposed global tax changes that would have ramifications around the world. The Fin

ANZ boss calls for QE summit

Shayne Elliott, the chief executive of one of the country’s biggest banks, has called on Treasurer Josh Frydenberg to convene a summit to discuss the broader economic implications of near-zero per cent interest rates and quantitative easing. The Fin

Palliative care gets 43% boost

The McGowan Government will boost its “end of life” palliative care package funding by 43 per cent as it battles to push its assisted dying legislation through the Upper House. The West

Credit raters circle wagons around banks

Credit ratings agencies warned that political pressure on banks to pass official interest rate cuts on to their customers in full may undermine their AA- credit ratings and raise their cost of funding in wholesale markets. The Fin

NBN failed on obligation to be impartial

The competition regulator has slapped NBN Co with a formal warning for a ‘‘serious breach’’ of its impartiality obligations, after discovering it had been discriminating between retailers of its enterprise products. The Fin

Chemist Warehouse prescribes China growth

Australia’s largest pharmacy chain, the privately owned Chemist Warehouse, is planning to step up its business in China, opening its first store in China later this month to capitalise on its growing access to the Chinese consumer market. The Aus

 

 

The Australian Financial Review

Page S1: The National Electricity Market is trapped in a stand-off between government and industry as energy giants blame market intervention and a lack of long-term energy and climate policy for a drought in new on-demand power plants.

The chief executive of fertiliser and explosives giant Incitec Pivot warned that the $38 billion gas-based manufacturing sector in Australia is at risk of long-term destruction because gas prices are too high in a market she labelled as dysfunctional.

Page 1: Shayne Elliott, the chief executive of one of the country’s biggest banks, has called on Treasurer Josh Frydenberg to convene a summit to discuss the broader economic implications of near-zero per cent interest rates and quantitative easing.

Page 2: Tech giants like Google and Uber would be forced to pay increased tax based on their huge turnovers under proposed global tax changes that would have ramifications around the world.

Page 4: Labor’s post-election inner turmoil is worsening, with fears that a commitment to increase the Newstart allowance could require the party to retain some of its more unpopular revenue raising policies to cover a cost of up to $13 billion over four years.

Page 6: Former Productivity Commission chairman Peter Harris has urged the government to boost home loan competition by creating a tough ‘‘best interest duty’’ for mortgage brokers so loyal customers don’t get ripped off.

Page 7: The Minerals Council of Australia quietly announced plans to develop a climate action strategy after a campaign by major investors including superannuation funds.

Page 11: Credit ratings agencies warned that political pressure on banks to pass official interest rate cuts on to their customers in full may undermine their AA- credit ratings and raise their cost of funding in wholesale markets.

Page 13: Network Ten is planning an aggressive push into the small-to-medium sized business advertising market with the launch of a self-service platform in a bid to capture a larger share of the segment.

Metcash is in negotiations with one of its biggest customers, convenience chain 7-Eleven, to salvage long-term supply contracts, just weeks after losing its $270 million-a-year agreement with Drakes Supermarkets.

Page 14: Nearly 60 per cent of Australians said their productivity was significantly affected by their mental health and many are conflicted about whether to report problems to their boss, a study has found.

Page 17: The competition regulator has slapped NBN Co with a formal warning for a ‘‘serious breach’’ of its impartiality obligations, after discovering it had been discriminating between retailers of its enterprise products.

Page 26: Momentum is building towards what could become the country’s largest single shopping centre deal as bids are sharpened for the $1.2 billion Garden City mall in Perth.

 

 

The Australian

Page 1: US Secretary of Commerce Wilbur Ross has suggested Australia could increase its global competitiveness and attract direct foreign investment if it replicated Donald Trump’s corporate tax cuts.

Page 3: Australia’s first indigenous surgeon, Kelvin Kong, says he is terrified by the McGowan government’s plan to let doctors suggest voluntary assisted dying, describing patients in remote areas as often so thankful to see a specialist that they are “very compliant”.

Page 4: Australian farmers and businesses should soon be able to access trading opportunities worth billions of dollars with Indonesia — the world’s 10th largest economy — as Labor prepares to support the free trade agreement in parliament.

Page 17: High gas prices are transferring $1bn in wealth from manufacturers to the big three LNG exporters every year because of Australia’s “dysfunctional” market, big energy users warned yesterday as they demanded short-term action from the government to prevent harm to the economy.

Australia’s largest pharmacy chain, the privately owned Chemist Warehouse, is planning to step up its business in China, opening its first store in China later this month to capitalise on its growing access to the Chinese consumer market.

Page 18: Western Australia-based property syndicator and developer Primewest will tap the market for $100m for its initial public offering at $1 per share.

Page 20: Telstra will shut down its 3G mobile network by mid-2024, with existing customers to be migrated to the 4G and 5G networks over the next four years.

Page 23: Canadian property giant Brookfield is reviewing its holdings in the WA capital as its workbook swells and investors chase an exposure to the resources city.

 

 

The West Australian

Page 1: The McGowan Government will pour $250,000 into a research project encouraging WA public schools to take a more “thoughtful” approach to naughty kids’ behaviour.

Page 5: Marketing guru Mark Ritson has declared the debate over traditional versus digital advertising over, with it now clear newspaper and print remains a vital part of the quest to detach consumers from their cash.

Page 7: The McGowan Government will boost its “end of life” palliative care package funding by 43 per cent as it battles to push its assisted dying legislation through the Upper House.

Page 8: Former Federal defence minister and current WA Governor Kim Beazley says the case for Australia’s submarine fleet to undergo high-grade maintenance in the west and not South Australia was “inarguable”.

Page 11: WA’s peak real estate lobby group is calling for the reintroduction of the $7000 first-home owner grant in a bid to end WA’s longest property downturn in history.

Business: A NSW man has launched the first lawsuit by an Australian farmer against chemical giant Monsanto, claiming its Roundup weedkiller caused cancer.

While the US and China trade punches amid a growing trade war, a joint venture between two companies from each of the warring nations yesterday celebrated a $320 million expansion of the world’s biggest lithium mine in WA’s South West.

Austal and US private equity firm Cerebus Capital are moving closer to completing a long-speculated deal to buy the Philippines’ biggest shipyard.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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