16/10/2019 - 06:57

Morning Headlines

16/10/2019 - 06:57

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Morning Headlines

Climate stance ‘threatens’ jobs

Resources Minister Matt Canavan says in pushing to declare a climate emergency Labor has “rolled over to a bunch of hippies that like to superglue themselves to the street” and every West Australian mining job is in danger. The West

More please: Retail Food Group lifts raising to $190m

Food franchisor Retail Food Group, the owner of the Michel’s Patisserie, Gloria Jean’s and Donut King brands, is upsizing a capital raising after it was supported strongly by institutional investors including Invesco. The Fin

IMF slashes outlook for Aussie GDP

Prime Minister Scott Morrison declared his budget surplus plan will not be ‘‘spooked’’ by international events, as the International Monetary Fund slashed Australia’s economic growth forecast to just 1.7 per cent and advised world governments to unleash a spending stimulus. The Fin

Executive pay flak ‘unfair’

Telstra chairman John Mullen says chief executives are unfairly criticised over their pay, arguing the public does not complain about sport stars or entertainers pocketing millions. The West

Banking probe is ‘pointless’ without action

A legal requirement for bankers and mortgage brokers to act in the best interests of borrowers, a ban on banks paying trailing commissions to brokers, and a better online interest rate calculator would all do more to get competition going in home loans than another banking inquiry. The Fin

Young losing trust in democracy ‘is a threat to society’

The University of Western Australia says Australia must do better in teaching young people about “civics and citizenship”, warning that a loss of trust in the democratic system “is a very real threat” to society. The Aus

PM pushed to take lead on $15bn effort to protect at-risk kids

Leading philanthropist Nicola Forrest will press Scott Morrison to spearhead a public-private effort to support at-risk children, an issue costing the economy $15bn a year according to new research. The Aus

Telstra finally admits blame over NBN saga

Telstra chairman John Mullen has admitted the telco needs to shoulder some of the blame for the creation of the National Broadband Network, adding its past management had made things as difficult as possible for the $50bn project. The Aus

Feed prices hit egg farms

The Nationals WA is calling on big supermarkets to pay a wholesale increase of 10¢ a dozen to all egg suppliers, in recognition of crippling high feed prices caused by the Eastern States drought. The West

 

 

The Australian Financial Review

Page 1: Prime Minister Scott Morrison declared his budget surplus plan will not be ‘‘spooked’’ by international events, as the International Monetary Fund slashed Australia’s economic growth forecast to just 1.7 per cent and advised world governments to unleash a spending stimulus.

Page 3: An arrest warrant citing ‘‘official corruption’’ has been issued for the former prime minister of Papua New Guinea, Peter O’Neill, less than six months after he was forced from office.

Page 6: A legal requirement for bankers and mortgage brokers to act in the best interests of borrowers, a ban on banks paying trailing commissions to brokers, and a better online interest rate calculator would all do more to get competition going in home loans than another banking inquiry.

Page 7: Labor has launched a scathing attack on the government’s big stick energy laws just hours after capitulating and agreeing to support them.

Page 8: Universities would have to improve their quality of research if they want to keep the title ‘‘university’’ under recommendations aimed at making it easier for school leavers to choose what to do next and get the job to which they are best suited.

Page 13: Coles chief executive Steven Cain is bringing a touch of glass to the battle with Woolworths for the hearts and wallets of food and liquor shoppers this Christmas.

The Myer Family Investments office and the private equity firm run by former Carlyle Group Australian head Simon Moore have both taken up their full entitlements in the capital raising by crash repair company AMA Group as it turns into a $900 million entity.

Page 14: Food franchisor Retail Food Group, the owner of the Michel’s Patisserie, Gloria Jean’s and Donut King brands, is upsizing a capital raising after it was supported strongly by institutional investors including Invesco.

Page 15: Newcrest Mining has pulled the trigger on a $685 million expansion of Australia’s most lucrative gold mine despite concerns about water supply, a tailings dam problem and an increase in seismic events that have taken some of the shine off its Cadia operations.

 

 

The Australian

Page 1: Former Australia Post boss Ahmed Fahour’s potential $22.5m payday has evaporated after the planned $3.2bn stockmarket listing of his consumer finance company Latitude Financial was shelved.

Page 2: The University of Western Australia says Australia must do better in teaching young people about “civics and citizenship”, warning that a loss of trust in the democratic system “is a very real threat” to society.

Page 5: The new voice of Australia’s conservative movement has vowed to go after radical left-wing groups in a national campaign against “climate alarmists”, after accusing members of activist group Extinction Rebellion of being criminals who pose a menace to society.

Australia has for too long treated the symptoms rather than the cause of indigenous disadvantage, says Minister for Indigenous Australians Ken Wyatt.

Page 6: The Coalition could bring forward its tax cut plan without sacrificing surpluses, according to analysis that slams government modelling for ignoring how changes in marginal rates can be a disincentive to work.

Page 7: Leading philanthropist Nicola Forrest will press Scott Morrison to spearhead a public-private effort to support at-risk children, an issue costing the economy $15bn a year according to new research.

Page 17: Regional banks are defying their higher funding costs and applying deeper new home loan discounts than their bigger rivals, a point the competition regulator will closely scrutinise in its mortgage market probe.

Telstra chairman John Mullen has admitted the telco needs to shoulder some of the blame for the creation of the National Broadband Network, adding its past management had made things as difficult as possible for the $50bn project.

Evolution Mining’s flagship Cowal gold mine in western NSW could face production constraints by the end of the financial year if the state’s savage drought doesn’t break.

Page 18: The world’s largest building materials company, LafargeHolcim, is believed to be again mulling an exit of its $3bn Australia and New Zealand division.

Page 20: Investment banker David Williams has urged Agriculture Minister Bridget McKenzie to push to sell Australian pork to China to help ease a shortage as a result of its swine flu problem and get in ahead of any US-China trade deal.

 

 

The West Australian

Page 4: Resources Minister Matt Canavan says in pushing to declare a climate emergency Labor has “rolled over to a bunch of hippies that like to superglue themselves to the street” and every West Australian mining job is in danger.

Labor is considering drastically reducing its reliance on Twitter as it prepares to internally release its “warts-and-all-review” of why it lost the election.

Page 11: Property consultancy Urbis has developed a masterplan that shows what the Perth city could look like in 2050, when its population is expected to hit 80,000 people.

Page 14: Labor Upper House member Kyle McGinn has signalled he will likely support assisted dying legislation, further boosting hopes the Bill will be passed.

Page 20: Australian children’s series Bluey, about an adorable six-year-old blue heeler and her family, has fetched an Emmy nomination.

Fly-in, fly-out workers in WA’s north wore face masks as they returned to Perth yesterday after a colleague at a Pilbara mine site was diagnosed with measles.

Page 22: Soccer legends were left feeling “physically sick” after England’s match early yesterday was suspended when players were hit with racist abuse by fans.

Page 26: Australian diners are fed up with paying the whole tab for dinner at restaurants that refuse to let customers split the bill.

Business: Telstra chairman John Mullen says chief executives are unfairly criticised over their pay, arguing the public does not complain about sport stars or entertainers pocketing millions.

The Nationals WA is calling on big supermarkets to pay a wholesale increase of 10¢ a dozen to all egg suppliers, in recognition of crippling high feed prices caused by the Eastern States drought.

Business owners are pencilling in a much needed boost over Christmas but remain pessimistic about the long term prospects of the WA economy.

A booming WA kangaroo population is reducing crop and pasture productivity, sparking calls for a revival in the State’s pet meat industry.

WA developer Celtic Properties is launching its 82-apartment Halcyon complex on Roydhouse Street in Subiaco this week.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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