15/11/2019 - 06:54

Morning Headlines

15/11/2019 - 06:54

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Morning Headlines

FMG out of Guinea ore deal

Fortescue Metals Group has lost out to a global consortium on a tender to develop part of Guinea’s Simandou iron ore project. The West

Chevron to be read riot act on Browse

Federal Resources Minister Matt Canavan will lay down the law to Chevron chairman Mike Wirth at an upcoming meeting in San Francisco, with the senator set to warn the energy giant that it could lose its good standing in Australia if it stood in the way of Woodside Petroleum’s $30bn Browse LNG project. The Aus

Sweden dumps Oz bonds over ‘climate inertia’

The world’s oldest central bank has dumped billions of dollars of bonds issued by Western Australia and Queensland because of concerns about Australia’s lack of action on climate change. The Aus

China gets tick for Bellamy’s bid

Treasurer Josh Frydenberg has approved a Chinese government-backed $1.5 billion takeover of infant milk formula group Bellamy’s Australia, but with conditions to head off a domestic backlash. The Fin

Rate cut prospects up after jobs disappoint

The first big drop in the number of people working in three years and a bump in the jobless rate to 5.3 per cent triggered bets of another interest rate cut and ramped up pressure on the Morrison government. The Fin

Artificial intelligence could be worth $315b

Artificial intelligence will improve productivity, give Australia the opportunity to establish new world-leading companies, create thousands of jobs every year and significantly improve the quality of life for current and future citizens, according to a national road map to be released by the government today. The Fin

Warning on rare earths funding

The head of the world’s biggest rare earths producer outside China has warned that the government risks wasting taxpayers’ money if it backs new rare earths developments without investing in downstream processing. The Fin

Death laws lines drawn

Patients wanting access to voluntary assisted dying would need to request it during a doctor’s appointment where they will be reminded of their palliative care options under new amendments to the VAD Bill tabled by the Government. The West

Big Four in tussle for loan scheme

The big four banks are all vying to be hand-picked to offer mortgages under the Federal Government’s new First Home Loan Deposit Scheme. The West

 

 

The Australian Financial Review

Page 1: Treasurer Josh Frydenberg has approved a Chinese government-backed $1.5 billion takeover of infant milk formula group Bellamy’s Australia, but with conditions to head off a domestic backlash.

Malcolm Turnbull was advised in a confidential memo in the aftermath of the 2016 election that the property boom was costing the Coalition support in the outer suburbs, regional cities and towns, and the government needed to shift political strategy to avoid losing power.

Page 3: The superannuation industry will seek to steer the retirement income inquiry toward an area of discomfort for Prime Minister Scott Morrison: the taper rate applied to the age pension.

From where Qantas CEO Alan Joyce is sitting, there are two key success factors for long-haul routes from Australia’s East Coast: increasing the number of premium seats and charging a 20 to 30 per cent premium compared with fares on the same route with a stopover.

Page 4: The first big drop in the number of people working in three years and a bump in the jobless rate to 5.3 per cent triggered bets of another interest rate cut and ramped up pressure on the Morrison government.

Page 5: Artificial intelligence will improve productivity, give Australia the opportunity to establish new world-leading companies, create thousands of jobs every year and significantly improve the quality of life for current and future citizens, according to a national road map to be released by the government today.

Page 8: Josh Frydenberg left open the possibility of fast-tracking the second round of income tax cuts as he all but confirmed state-federal tax reform was dead and each tier of government should go it alone.

Page 10: Solar farm developers clashed with major energy users over who should bear the cost of worsening bottlenecks in the transmission grid, with both sides using the price impact on consumers to support their arguments.

Page 17: Wesfarmers chairman Michael Chaney vented his frustration at shareholders who almost voted in sufficient numbers to inflict a first strike against the conglomerate’s remuneration report at Thursday’s annual meeting.

Page 19: Tommy Hilfiger, one of the first designers to make clothes for people of all shapes and sizes, has taken his commitment to diversity a step further, launching a range of clothes in Australia for people with disabilities and special needs.

Page 22: BHP’s outgoing chief executive, Andrew Mackenzie, will leave the mining giant with a swag of shares worth $37 million, while his successor Mike Henry will have plenty of reasons to smile too.

Page 24: GrainCorp has a lot riding on a decision from the competition watchdog after delaying moves to spin off its global malting assets, as its core business suffers through one of the worst droughts in Australia’s history.

 

 

The Australian

Page 1: A corporate adviser to super fund giants is urging investors to sack one of the country’s most high-profile businesswomen from the board of retailer Harvey Norman and replace her with a shareholder activist who has run for board positions on major Australian companies 49 times and failed every time.

Page 2: The head of the world’s biggest rare earths producer outside China has warned that the government risks wasting taxpayers’ money if it backs new rare earths developments without investing in downstream processing.

Page 4: The world’s oldest central bank has dumped billions of dollars of bonds issued by Western Australia and Queensland because of concerns about Australia’s lack of action on climate change.

Page 6: Government agencies and departments engaged in commercial research and equipment contracts with Chinese government companies and institutes are increasingly applying risk assessment and due diligence amid heightened awareness over foreign interference.

Page 17: Incoming BHP boss Mike Henry has vowed to put technology and data at the centre of the company’s future, saying his mantra at the top of the world’s biggest miner will be “adapt, innovate and improve”.

Federal Resources Minister Matt Canavan will lay down the law to Chevron chairman Mike Wirth at an upcoming meeting in San Francisco, with the senator set to warn the energy giant that it could lose its good standing in Australia if it stood in the way of Woodside Petroleum’s $30bn Browse LNG project.

Page 20: Telcos will game the competition regulator’s proposed measures to lift the financial compensation they receive for missed appointments, NBN Co has warned in the latest war of words between it, the industry and the Australian Competition & Consumer Commission.

 

 

The West Australian

Page 3: Patients wanting access to voluntary assisted dying would need to request it during a doctor’s appointment where they will be reminded of their palliative care options under new amendments to the VAD Bill tabled by the Government.

Page 11: The principal of a private City Beach school catering for the children of ambassadors, consular officials and other expatriates has suddenly gone on leave while the school is being investigated over alleged bullying issues.

Page 16: War hero Ben Roberts-Smith says the top of the Australian Defence Force needs to go for shamefully protecting their own careers at the expense of rank and file soldiers.

Eight-time Perth Cup winning owner-breeder says sweeping changes to horseracing welfare in WA is overall a positive.

Page 20: WA Police will be given new powers to charge family violence offenders who choke, suffocate or strangle their partners.

Page 25: Fremantle has joined the free parking extravaganza in the lead-up to Christmas after moves to get rid of fees at three carparks in the Perth CBD.

Business: The big four banks are all vying to be hand-picked to offer mortgages under the Federal Government’s new First Home Loan Deposit Scheme.

Wesfarmers will keep some executive performance targets confidential despite criticism from a proxy adviser that triggered a near-first strike against its remuneration report yesterday.

Fortescue Metals Group has lost out to a global consortium on a tender to develop part of Guinea’s Simandou iron ore project.

The environment’s precious pollinators found by workers managing the network’s assets will no longer be left stranded after the company’s new policy to rehome bees.

The seven brothers who split $121 million from the sale of car retailer DVG four years ago are preparing to offload nearly $100 million of land under the chain’s Perth dealerships.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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