05/11/2019 - 06:53

Morning Headlines

05/11/2019 - 06:53

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Morning Headlines

Browse talks ‘very positive’

Federal Resources Minister Matt Canavan has weighed into the continuing debate over the development of the $US20.5 billion Browse project, flagging that an end-of-year agreement was on track. The West

Westpac invests in 10X to take on ‘neobanks’

Westpac Banking Corp’s investment in a new banking platform will allow it to respond to a ‘‘once-in-a-generation transition’’ of the financial services sector, providing an option to launch a new digital bank to attract Millennial customers and allowing it to partner with non-banks to sell its products, said chief executive Brian Hartzer. The Fin

Call to cut tax breaks for rich retirees

The government should look to trim generous tax concessions for wealthy superannuation savers, worth more than $36bn a year, rather than aim to include the family home in the pension assets test, according to the Combined Pensioners and Superannuants Association. The Aus

Treasurer gives RBA more room to hit inflation target

Treasurer Josh Frydenberg has eased pressure on the Reserve Bank to make further interest rate cuts by allowing it more time to get inflation back within its 2 to 3 per cent target, declaring there will be no change to the official agreement on monetary policy in the light of global uncertainties. The Fin

Rich donors bankroll green independents

Wealthy climate change activist Simon Holmes a Court wants to assemble a $1 million war chest to bankroll independent candidates at the next election after funding disclosures showed the organisation he and rich-lister Mike Cannon-Brookes backed emerged as one of 2019’s biggest donors. The Fin

Government not about to wave goodbye

Regional Development Minister Alannah MacTiernan says the State Government is not walking away from the idea of wave energy in Albany, despite a tumultuous year for the emerging industry on the south coast. The West

China, Australia agree relations need work

Prime Minister Scott Morrison says China and Australia both accept they must improve their relationship, and that requires an honest acknowledgement of the differences between the two nations. The Fin

NRW looks to raise funds for BGC buy

NRW is expected to work with investment bank UBS for an equity raising should it proceed with a deal to buy BGC Contracting. The Aus

Miners outmuscle banks on Cup eve

It was a battle of the index heavyweights on the eve of the Reserve Bank’s Melbourne Cup interest rate decision, with strength in mining stocks outweighing a sell-off among the big banks. The West

 

 

The Australian Financial Review

Page 1: Treasurer Josh Frydenberg has eased pressure on the Reserve Bank to make further interest rate cuts by allowing it more time to get inflation back within its 2 to 3 per cent target, declaring there will be no change to the official agreement on monetary policy in the light of global uncertainties.

Westpac chief executive Brian Hartzer said the bank’s responsible lending bottleneck might not be fixed until next year as he announced slashing the final dividend to 80¢ from 94¢ and revealed he had asked the board to scratch his short-term bonus worth up to $4million.

Page 2: The 27 industry super fund owners of IFM Investors have given tacit endorsement to the $103 billion fund manager’s purchase of US oil logistics company Buckeye Partners, despite the opposition of environmental activists.

Page 3: Wealthy climate change activist Simon Holmes a Court wants to assemble a $1 million war chest to bankroll independent candidates at the next election after funding disclosures showed the organisation he and rich-lister Mike Cannon-Brookes backed emerged as one of 2019’s biggest donors.

Page 4: Prime Minister Scott Morrison says the door will remain wide open for India to join the 16-nation Regional Comprehensive Economic Partnership (RCEP) if and when it is ready, as Australia and the other member nations agreed to work towards finalising the trade pact regardless of what Delhi decides.

Page 5: Prime Minister Scott Morrison says China and Australia both accept they must improve their relationship, and that requires an honest acknowledgement of the differences between the two nations.

Page 8: Big business has baulked at the Morrison government’s plans to ban cash payments above $10,000, warning that a January 2020 start date is ‘‘too ambitious’’ and would not allow enough time for transition.

Page 12: McDonald’s fired chief executive Steve Easterbrook after the fast food giant’s board of directors found that he ‘‘demonstrated poor judgment’’ in a consensual relationship with an employee, the company announced on Monday (AEDT).

Page 13: Westpac Banking Corp’s investment in a new banking platform will allow it to respond to a ‘‘once-in-a-generation transition’’ of the financial services sector, providing an option to launch a new digital bank to attract Millennial customers and allowing it to partner with non-banks to sell its products, said chief executive Brian Hartzer.

Page 17: Momentum among stocks in the healthcare sector is tipped to continue in 2020 as a range of small and midsized biotech and medical device companies hope for clinical trial results before the year’s end.

Page 19: Australia’s competition regulator will step up its offensive against tech giant Google next year, following last week’s charges about misleading privacy announcements, by launching antitrust proceedings over the demise of mobile advertising high-flyer Unlockd.

 

 

The Australian

Page 1: Australia must urgently review its air and maritime strike capabilities in order to meet the threat posed by a rising China and a possible retreat by the US from our region, two former air force chiefs have warned.

Page 3: Former Tennis Australia director Harold Mitchell passed on secret information to the Seven Network about broadcast rights, attempting to strike a cheap deal by bypassing the sport’s administrators and threatening to have officials sacked if they defied him, the Federal Court has heard.

Page 5: The government should look to trim generous tax concessions for wealthy superannuation savers, worth more than $36bn a year, rather than aim to include the family home in the pension assets test, according to the Combined Pensioners and Superannuants Association.

Page 7: Australians with disabilities are too often seen as undeserving of the same education as other people, the new disability royal commission has heard.

Page 17: One of Australia’s best-known active fund managers has slammed policymakers for using ultra-low interest rates to stimulate the economy and called on the federal government to consider tax and energy reforms and incentives to guide super funds into infrastructure and venture capital investment.

NRW is expected to work with investment bank UBS for an equity raising should it proceed with a deal to buy BGC Contracting.

The sales process for the Super Pit gold mine in Western Australia is gathering steam, as shortlisted bidders get ready to submit their final offers for the iconic asset by November 15.

Page 20: Optus has officially launched 5G services in Australia, with CEO Allen Lew saying the telco can go toe to toe with Telstra on offering reliable high-speed mobile and fixed-wireless services.

 

 

The West Australian

Page 3: Families flocking to restaurants and cafes have helped propel WA to its strongest quarter of retail trade growth in almost six years.

Saffron can help reduce depression when it is taken alongside antidepressant medication, WA research has found.

Page 8: Almost 1000 Federal Treasury staff have been offered counselling after an alleged incident at a ball that prompted an investigation into one of the nation’s most senior Treasury officials.

The nation’s biggest bank is likely to rip out more ATMs at the same time it is slugging customers higher charges if they seek assistance in branches.

Page 9: Scott Morrison has finalised an agreement for the world’s biggest free trade deal at a major meeting with Asian superpowers in Thailand last night.

Page 14: Almost a dozen tenants and families were kicked out of public housing every week last financial year, with one homeless woman losing hope on being told she would have to wait at least five years for a home.

Business: CBH Group says it would consider reopening the Tier 3 railway lines in the Wheatbelt if it was granted access to the lines by State Government and lessee Arc Infrastructure.

Federal Resources Minister Matt Canavan has weighed into the continuing debate over the development of the $US20.5 billion Browse project, flagging that an end-of-year agreement was on track.

Regional Development Minister Alannah MacTiernan says the State Government is not walking away from the idea of wave energy in Albany, despite a tumultuous year for the emerging industry on the south coast.

It was a battle of the index heavyweights on the eve of the Reserve Bank’s Melbourne Cup interest rate decision, with strength in mining stocks outweighing a sell-off among the big banks.

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