21/10/2019 - 06:59

Morning Headlines

21/10/2019 - 06:59

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Morning Headlines

China launches $10b push for Oakajee iron ore

A Chinese state-owned entity will seek to revive a $9.7 billion mining rail and port project in Western Australia, in a move that could unlock the nation’s next iron ore export province. The Fin

Insolvencies tipped to lift in mining ranks

Australia’s junior mining ranks have shrunk to the lowest level in four years and accounting firm BDO believes insolvencies are likely to rise on the back of a two-year high in the number of companies close to exhausting their cash reserves. The Fin

Wipe housing debt: Wyatt

WA Treasurer Ben Wyatt has formally asked Canberra to forgive almost $400 million in debts dating from the 1950s in the hope the State can splurge on social housing as part of a stimulus package for local tradies. The West

Treasurer: no panic on growth

Treasurer Josh Frydenberg has left Washington upbeat about challenges facing the global and domestic economies, including a ‘‘more positive’’ outlook for a US-China trade fix, even as the IMF warned Australia must tackle tax reform and that next year’s budget may need to tap some of the surplus to stimulate growth. The Fin

Groundwater plant to get $50m upgrade

The State Government will spend more than $50 million upgrading a groundwater treatment plant, saying it is part of a package aimed at reducing the impact of climate change. The West

Media unites against secrecy of government

Newspaper front pages across Australia were censored on Monday as a coalition of media rivals intensifies the campaign to remove laws criminalising journalism and targeting whistleblowers. The

Fin

Jobs to go as ABC seeks relevance

Job cuts at the ABC are inevitable, as managing director David Anderson leads an extensive review of the public broadcaster’s operations with a five-year blueprint to be delivered in March. The Aus

Private school priced ‘beyond reach’ by 2040

Private school parents face fees as high as $84,221 a year by 2040, meaning even double-income families will find it hard to afford independent education. The Fin

Big names in AGM crosshairs this week

AGM season gets personal this week as Tabcorp chairman Paula Dwyer, Crown directors Helen Coonan and Harold Mitchell, and Qantas director Todd Sampson face personal protest votes against re-election to their boards. The Fin

Pay rise for aged care, disability workers despite employer protests

Overtime and weekend rates for casual aged-care and disability services workers will rise from next July after Fair Work agreed to defer increases by six months but rejected a push by employers for a longer phase-in period. The Aus

 

 

The Australian Financial Review

Page 1: Treasurer Josh Frydenberg has left Washington upbeat about challenges facing the global and domestic economies, including a ‘‘more positive’’ outlook for a US-China trade fix, even as the IMF warned Australia must tackle tax reform and that next year’s budget may need to tap some of the surplus to stimulate growth.

A Chinese state-owned entity will seek to revive a $9.7 billion mining rail and port project in Western Australia, in a move that could unlock the nation’s next iron ore export province.

Page 5: Telstra chairman John Mullen has added telecommunication to banking and energy as key sectors where ‘big stick’ regulatory and political risks are undermining investment returns and the economic growth outlook.

Page 6: Newspaper front pages across Australia were censored on Monday as a coalition of media rivals intensifies the campaign to remove laws criminalising journalism and targeting whistleblowers.

Page 8: Australia is set to produce the smallest winter grain crop for more than a decade as tough times for farmers get even tougher.

Page 9: Frustrated property buyers are paying ‘‘well over value’’ due to a lack of stock at the top end of the market, while at the ultra-trophy end a penthouse in Sydney’s Barangaroo sold for $140 million on the weekend.

Page 12: A defiant British Prime Minister Boris Johnson will look to shrug off his weekend parliamentary defeat and renew his push to get his Brexit deal voted through as soon as today, as European Union leaders mull their response to the request to delay Brexit that he was forced to send them yesterday.

Page 14: Private school parents face fees as high as $84,221 a year by 2040, meaning even double-income families will find it hard to afford independent education.

Page 15: Telecoms firm Vocus has released a document it claims proves NBN Co is violating its wholesale-only mandate by directly contacting end users of its business products.

Page 17: AGM season gets personal this week as Tabcorp chairman Paula Dwyer, Crown directors Helen Coonan and Harold Mitchell, and Qantas director Todd Sampson face personal protest votes against re-election to their boards.

Page 22: Australia’s junior mining ranks have shrunk to the lowest level in four years and accounting firm BDO believes insolvencies are likely to rise on the back of a two-year high in the number of companies close to exhausting their cash reserves.

 

 

The Australian

Page 2: Job cuts at the ABC are inevitable, as managing director David Anderson leads an extensive review of the public broadcaster’s operations with a five-year blueprint to be delivered in March.

Page 3: The goods and services tax would be broadened, stamp duties scrapped and messy federal-state funding agreements abolished under a call for a major reform of the federation proposed by the NSW government.

Page 4: Three Labor MPs — Warren Snowdon, Luke Gosling and Malarndirri McCarthy — narrowly survived a motion that could have seen them expelled from the party because of Anthony Albanese’s decision to support the Indonesia and Hong Kong free-trade deals.

Overtime and weekend rates for casual aged-care and disability services workers will rise from next July after Fair Work agreed to defer increases by six months but rejected a push by employers for a longer phase-in period.

Page 6: China is ramping up its efforts to win over island nations in Australia’s traditional sphere of influence, signing seven new agreements with Samoa at the weekend ahead of a meeting with Pacific leaders to spruik new Belt and Road Initiative (BRI) projects.

Page 17: The International Monetary Fund has signalled a “whatever it takes” approach to boost the global economy and urged leaders to resolve trade tensions and boost fiscal policy to support demand.

Page 18: Seven West Media’s acquisition of Prime Media on Friday could be just the start of a fresh round of mergers and acquisitions in the media industry among smaller companies.

Page 19: Multi-millionaire financier and investment banker Mark Carnegie is understood to be in negotiations with the Paul Ramsay Foundation to purchase and convert his inner-city home into offices in a project that could eventually be valued at up to $70m.

 

 

The West Australian

Page 3: WA Treasurer Ben Wyatt has formally asked Canberra to forgive almost $400 million in debts dating from the 1950s in the hope the State can splurge on social housing as part of a stimulus package for local tradies.

Page 4: There is widespread concern among Australians that increasing secrecy is denying them the right to know about assaults in nursing homes they may be considering for a family member or moves by the tax office to take money from their bank accounts without notice.

Page 8: Clinical trials of a revolutionary one-shot vaccine for children could begin within several years as part of groundbreaking research being carried out by the Telethon Kids Institute.

Page 14: A fresh fight has broken out over the push by WA Liberals to build the Roe 8 and Roe 9 Highway extensions after the McGowan Government claimed council elections had again shown locals were firmly against the project.

Page 16: The State Government will spend more than $50 million upgrading a groundwater treatment plant, saying it is part of a package aimed at reducing the impact of climate change.

Page 20: Many cash-strapped Australians are left with less than $50 in their bank account until payday, alarming research reveals.

Business: WA potato farmers plan to drive up international sales with the establishment of a bulk exporting body by May next year.

Australia’s retirement system has been rated the world’s third best in a new report.

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