28/10/2019 - 06:55

Morning Headlines

28/10/2019 - 06:55

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Morning Headlines

Tradie extinction

The number of apprentices in WA has fallen by 13,000 since 2013, with concerns a skills crisis is crippling the State’s economy and the “extinction of the tradie” is near. The West

Miners tipping China’s winter halts to ease

Australian miners are confident China’s looming shutdown season will have less impact on commodity markets than in previous years, as trade tensions and a slowing global economy tempt Australia’s biggest trading partner to put a greater emphasis on economic growth. The Fin

Shipping bigwig sets foot on land with WA acquisition

Global shipping giant Mediterranean Shipping Company has snapped up a Western Australia-based logistics player in a sure sign of what’s to come. The Fin

Netflix made millions, paid just 0.06pc tax

Netflix Australia paid only $341,793 in tax for the 2018 calendar year despite reaping an estimated $600 million to $1 billion from local subscribers. The Fin

South32 a ‘voice for good’ in coal lobby

South32 chairman Karen Wood says the group is an important “voice for good” in lobby groups such as Coal21 and the NSW Minerals Council, and has declared that coal used for steel making still has a role its portfolio. The Fin

RBA could give banks cheap loans

Treasury warned Josh Frydenberg that bank profit margins will be ‘‘squeezed’’ by the Reserve Bank of Australia’s ultra-low interest rates and raised the possibility of the central bank offering cheap funding to banks to stimulate the economy. The Fin

AWU in strife over ‘inflated’ membership

The union watchdog is considering taking action against the Australian Workers Union over inflated membership numbers after telling the union it appears to have engaged in ‘‘serious’’ and ‘‘systemic’’ breaches of the law for almost a decade. The Fin

Australian media awaits Facebook’s olive branch

Facebook is believed to have made first contact with Australian news publishers regarding the potential rollout of its Facebook News tab, which was announced with much fanfare in the US on Friday. The Fin

Pressure rising for drivers of electric cars to pay their way

Electric vehicle drivers should be charged road-user costs, with 76 per cent of Australians calling on green-car owners to contribute to transport infrastructure, and almost one-in-two declaring it unfair they avoid paying fuel excise. The Aus

Mental health’s philanthropy woes

Confusion, duplication and a lack of leadership is stopping wealthy philanthropists from donating more money to address the nation’s mental health crisis, according to a new report by companies backed by billionaires Andrew Forrest, Solomon Lew and a who’s who of corporate Australia. The Aus

 

 

The Australian Financial Review

Page 1: Treasury warned Josh Frydenberg that bank profit margins will be ‘‘squeezed’’ by the Reserve Bank of Australia’s ultra-low interest rates and raised the possibility of the central bank offering cheap funding to banks to stimulate the economy.

A Liberal senator has called on the Morrison government to expand the goods and services tax, a politically bold step that could raise more than $18 billion a year by imposing a sales tax on fresh food, health, childcare and private school and university fees for the first time.

Page 3: Netflix Australia paid only $341,793 in tax for the 2018 calendar year despite reaping an estimated $600 million to $1 billion from local subscribers.

Page 6: Soft non-financial performance targets will come under attack in this week’s annual shareholder meeting season, as investors continue to reject the approach being pushed by regulators.

Soft non-financial performance targets will come under attack in this week’s annual shareholder meeting season, as investors continue to reject the approach being pushed by regulators.

Page 8: The union watchdog is considering taking action against the Australian Workers Union over inflated membership numbers after telling the union it appears to have engaged in ‘‘serious’’ and ‘‘systemic’’ breaches of the law for almost a decade.

Page 14: School-leaver qualifications should include whether a student has done a training course in years 11 and 12, advanced maths in final year exams or worked at McDonald’s and the lines between university and training courses should be blurred, said Peter Shergold.

Page 15: Australian miners are confident China’s looming shutdown season will have less impact on commodity markets than in previous years, as trade tensions and a slowing global economy tempt Australia’s biggest trading partner to put a greater emphasis on economic growth.

Page 16: Global shipping giant Mediterranean Shipping Company has snapped up a Western Australia-based logistics player in a sure sign of what’s to come.

Page 17: Facebook is believed to have made first contact with Australian news publishers regarding the potential rollout of its Facebook News tab, which was announced with much fanfare in the US on Friday.

Page 19: The prudential regulator’s edict that 50 per cent of banker bonuses must be based on non-financial metrics should be extended to outlaw sales-based bonus payments, according to consumer advocacy groups.

Page 20: South32 chairman Karen Wood says the group is an important “voice for good” in lobby groups such as Coal21 and the NSW Minerals Council, and has declared that coal used for steel making still has a role its portfolio.

 

 

The Australian

Page 1: A $7bn blowout in unpaid taxes has prompted the watchdog overseeing the ATO to launch an investigation as complaints mount that small businesses are being unfairly targeted by stringent debt recovery tactics.

Page 3: Electric vehicle drivers should be charged road-user costs, with 76 per cent of Australians calling on green-car owners to contribute to transport infrastructure, and almost one-in-two declaring it unfair they avoid paying fuel excise.

Page 17: Investment veteran and former ANZ chairman Charles Goode is calling on Josh Frydenberg to forge a new pact with the Reserve Bank allowing it to reduce its inflation target to as low as 1 per cent, reflecting the new realities of the global economy and ending the central bank’s obsession with cutting interest rates just to hit its outdated inflation goals.

Koda Capital chairman Steve Tucker says players in the battered financial advice industry risk having “no future” unless advisers and firms stop clinging to failed structures of the past and conflicts of interest.

Page 19: A fresh spat over high east coast gas prices has erupted after the national group representing top energy producers disputed new analysis showing Australian users were paying more for gas than customers of its LNG exports in Asia.

Confusion, duplication and a lack of leadership is stopping wealthy philanthropists from donating more money to address the nation’s mental health crisis, according to a new report by companies backed by billionaires Andrew Forrest, Solomon Lew and a who’s who of corporate Australia.

 

 

The West Australian

Page 2: WA’s remarkable generosity was on full show over the weekend when the State raised a record $42,596,034 for Telethon.

Page 14: More than three-fifths of Australian workers have blood pressure levels that are so high they are at risk of stroke, while more than half have “high” or “very high” levels of body fat.

Page 18: The number of apprentices in WA has fallen by 13,000 since 2013, with concerns a skills crisis is crippling the State’s economy and the “extinction of the tradie” is near.

Perth congestion-busting projects are under fire from Federal Labor as being politically motivated, after 10 new projects have fallen in Liberal-held seats.

Australians suffering from melanoma and multiple sclerosis will get access to lifesaving treatment as the Federal Government today announces subsidies expected to save patients thousands of dollars a year.

Business: Australia’s inability to supply its long-term export markets with sufficient grain volumes — because of the unrelenting east coast drought — will have a lasting impact on the nation’s international competitiveness, industry commentators warn.

LVMH, the French owner of Louis Vuitton, is exploring a takeover of Tiffany & Co to expand in the US jewellery market, according to people familiar with the matter.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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