06/11/2019 - 07:14

Morning Headlines

06/11/2019 - 07:14

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Morning Headlines

What world’s biggest trade deal means to Australia

The Regional Comprehensive Economic Partnership will deliver incremental economic gains to Australia after India’s last-minute withdrawal deprived improved access to a market of 1.3 billion consumers. The Fin

RCR creditors face $80m hit on solar panels

RCR Tomlinson’s liquidators slashed forecast returns from the collapsed engineering group’s solar farms by up to $80 million after being hit with claims of alleged defects on projects, including solar panels that don’t track the sun. The Fin

Apollo Global Management eyes CIMIC’s Thiess unit

US-based private equity firm Apollo Global Management is believed to be in talks with construction company CIMIC about a potential acquisition of its subsidiary Thiess, which some estimate could be worth more than $3bn. The Aus

Facebook faces probe on currency

Australia’s financial regulators are expected to force Facebook to divulge details about plans for a global cryptocurrency called Libra, after the social media giant failed to reassure officials over the threat it posed to national security, banking, consumers and investors. The Aus

Westpac share slide turns up heat on NAB

Investors are worried that National Australia Bank will follow Westpac with a discounted share issue or another dividend cut when it releases its full-year results tomorrow, after Westpac shares struggled on their return to ASX trading yesterday. The Fin

RBA target a ‘medium term’ goal

Expectations for another interest rate cut have slipped further following an upbeat assessment of the economic outlook by the Reserve Bank of Australia, which kept its cash rate on hold at 0.75 per cent and signalled that a return to higher inflation could be achieved over the ‘‘medium term’’. The Fin

Matildas carve out equal revenue split with Socceroos in pay deal

The Matildas are set to receive a massive financial windfall under a landmark pay agreement with Football Federation Australia. The Fin

$9b tax hole linked to Airbnb-style deals

Rorts and errors by short-term rental property owners are a ‘‘key driver’’ of a $9 billion income tax shortfall under investigation by the Australian Taxation Office. The Fin

Bupa biggest loser in policies exodus

Australia’s biggest life insurer, Bupa, lost nearly 80,000 customers of its hospital cover policies last year, making it by far the biggest loser in the exodus of customers from private health funds. The Fin

NDIS agency exodus

A prominent West Australian disability support agency has gone to ground as questions mount over why three senior staff and the chairman all left within days of each other. The West

 

 

The Australian Financial Review

Page 1: Expectations for another interest rate cut have slipped further following an upbeat assessment of the economic outlook by the Reserve Bank of Australia, which kept its cash rate on hold at 0.75 per cent and signalled that a return to higher inflation could be achieved over the ‘‘medium term’’.

Page 2: Julia Gillard is joining the global leadership council of impact investing firm LeapFrog Investments, adding to the former prime minister’s growing list of corporate and non-profit ventures.

Australia and other countries need to go further than arming themselves with conventional military weapons because the next war is likely to be fought in space and the cyber domain, according to a top Trump administration official.

Page 3: Concerns about the welfare of retired racehorses have pushed the Melbourne Cup day crowd to its lowest level in 26 years, in a shock for the industry.

Page 4: The Regional Comprehensive Economic Partnership will deliver incremental economic gains to Australia after India’s last-minute withdrawal deprived improved access to a market of 1.3 billion consumers.

Page 5: The orthodox view that increasing the GST is fundamental to federal-state tax reform is under strong challenge from within the federal government as a view emerges that states should raise their own revenue.

Page 6: Australia has slashed the most distorting forms of agricultural subsidies over decades of reform but must be wary of drought policies that create ‘‘contradictory incentives’’ and ‘‘encourage risk-taking’’, the OECD has found.

The Electrical Trades Union has sought to ramp up pressure on BHP ahead of the miner’s annual general meeting this week by calling on superannuation funds to review their shares in the company over safety concerns.

A merger between QSuper and Sunsuper would create the nation’s largest superannuation fund and would deliver significant fee savings for a combined membership base of two million, experts say.

Page 8: The Matildas are set to receive a massive financial windfall under a landmark pay agreement with Football Federation Australia.

Page 9: Rorts and errors by short-term rental property owners are a ‘‘key driver’’ of a $9 billion income tax shortfall under investigation by the Australian Taxation Office.

Page 11: Industry superannuation funds are the underwriters of the most competitive reverse mortgages on the market, which is offered by newcomer Household Capital at an interest rate of 5.15 per cent.

Page 15: Investors are worried that National Australia Bank will follow Westpac with a discounted share issue or another dividend cut when it releases its full-year results tomorrow, after Westpac shares struggled on their return to ASX trading yesterday.

Page 17: Analysts say competition between Woolworths, Coles and Aldi has eased and the major supermarkets chains – particularly Coles – are more willing to raise prices to boost the value of sales and recoup higher costs.

Page 18: RCR Tomlinson’s liquidators slashed forecast returns from the collapsed engineering group’s solar farms by up to $80 million after being hit with claims of alleged defects on projects, including solar panels that don’t track the sun.

Page 21: Australia’s biggest life insurer, Bupa, lost nearly 80,000 customers of its hospital cover policies last year, making it by far the biggest loser in the exodus of customers from private health funds.

 

 

The Australian

Page 1: Australia’s financial regulators are expected to force Facebook to divulge details about plans for a global cryptocurrency called Libra, after the social media giant failed to reassure officials over the threat it posed to national security, banking, consumers and investors.

Page 5: Five people who refused to accept medical treatment after being transferred to Australia under contentious refugee medivac laws were diagnosed via teleconference with conditions including dermatitis, abdominal pain and dental pain.

Page 9: Leaders of Australia’s Islamic community are considering deploying armed guards at mosques and religious schools as part of a national security strategy intended to counter a recent spike in threats involving right-wing extremist groups.

Page 10: The US slapped more sanctions on Iran only hours after Tehran announced it had broken further away from its collapsing 2015 nuclear deal with world powers by increasing its enriched uranium production.

Page 19: The era of big Chinese investors spending billions of dollars in takeovers and investments in Australia is over as a result of tighter restrictions by Chinese authorities on outbound investment and a slowing Chinese economy, according to Wattle Hill Capital founder Albert Tse.

Page 20: US-based private equity firm Apollo Global Management is believed to be in talks with construction company CIMIC about a potential acquisition of its subsidiary Thiess, which some estimate could be worth more than $3bn.

Page 22: One of Australia’s largest family-owned wine groups, De Bortoli Wines, has forged higher sales and profitability from a revival in wine sales to China.

 

 

The West Australian

Page 1: One of the State’s highest paid council bosses — who earns more than the Premier — has gone on leave amid allegations he was being exposed to an “unsafe work environment”.

Page 3: Health Minister Roger Cook has rejected Opposition Leader Liza Harvey’s claim that he has agreed to amendments to secure passage of voluntary assisted dying laws before Christmas.

Page 10: Anthony Albanese has personally reached out to Attorney-General Christian Porter to be briefed on the religious freedoms Bill ahead of the legislation being put to the Federal Parliament next month.

Page 18: Former Opposition leader and treasurer Mike Nahan has blasted a McGowan Government plan to sell places at the State’s top public schools to Chinese students, saying it would come at the expense of local pupils.

Page 22: World-first research has revealed that running for as little as 50 minutes a week can significantly reduce your risk of death.

Page 26: Radical vegan activists have named Perth’s celebrity butcher Vince Garreffa as the next target of their anti-meat campaign.

Business: A prominent West Australian disability support agency has gone to ground as questions mount over why three senior staff and the chairman all left within days of each other.

Mobilising a local workforce with the skills to build WA’s new resource projects will require a united effort from the sector as well as training institutions and government, according to the industry’s peak services body.

Shoppers will almost certainly be stung by higher honey prices as supply tightens and beekeepers struggle to keep their hives alive during what could be the worst season on record.

Hopes for Kwinana to host a battery minerals processing hub have taken a step forward after Kibaran Resources yesterday said test work had bolstered its plans for a graphite processing facility on the industrial strip south of Perth.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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