21/11/2019 - 06:57

Morning Headlines

21/11/2019 - 06:57

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Morning Headlines

Minister on subs defensive

Defence Minister Linda Reynolds has held briefings and a workshop in Canberra on the lucrative submarine maintenance work that is the subject of an interstate stoush between South Australia and WA. The West

Twiggy backs solar export project

Iron ore billionaire Andrew Forrest has joined Mike Cannon-Brookes as a lead early backer of the $20 billion-plus Sun Cable project set to drive Asia’s transition to cleaner energy. The Fin

Westpac’s dirty money horror

Westpac chief executive Brian Hartzer said he was appalled and disgusted by allegations the bank’s payment systems had been used to fund child pornography, but has pushed back against the financial intelligence regulator’s charge that senior bank executives did not care about the breaches. The Fin

A Sterling court win

Three elderly couples threatened with eviction over the Sterling First fiasco have had a major legal win, with a judge ruling they have a case to argue that they are entitled to stay in the properties they thought they had leased for life — and also allowing them to stay until it is decided. The West

Quiet boom for mid-tiers           

Australia’s mid-tier miners have experienced a quiet boom in recent years driven by favourable commodity prices and some good investment decisions, according to PwC. The West

PM to take a sword to red tape, boost jobs

Environmental approvals for major projects such as mines could be reduced by between six and 18 months under existing regulations, due to a digital assessment regime to be introduced by the Morrison government as part of its new deregulation agenda. The Fin

Wesfarmers, Coles split a $16b win

One year after the demerger of Coles from Wesfarmers, shareholders in both companies are $16 billion richer, vindicating the decision to spin out the food and liquor retailer into a separately listed company. The Fin

Rugby at risk of state breakaway

Mining billionaire Andrew Forrest has called for Rugby Australia to put the game’s best interests ahead of “arrogance and ego” as he flagged a potential radical breakaway West Australian side to compete on the international stage. The Aus

Gaines proves her mettle

After less than two years in the job, Fortescue Metals chief executive Elizabeth Gaines has been chosen as the second most successful global company leader of 2019 by US business magazine Fortune. The Aus

WA business spreads tentacles into China

WA is about to export its first locally caught octopus to the lucrative Chinese market, coinciding with the fishery receiving an internationally renowned sustainability certification. The West

 

 

The Australian Financial Review

Page 1: Westpac chief executive Brian Hartzer said he was appalled and disgusted by allegations the bank’s payment systems had been used to fund child pornography, but has pushed back against the financial intelligence regulator’s charge that senior bank executives did not care about the breaches.

Page 3: A Federal Court judge has ripped into the corporate regulator for using its coercive investigative powers to obtain documents halfway through its court case against media mogul Harold Mitchell instead of getting the court’s permission to request the documents.

Page 4: Qantas is using Microsoft’s mixed reality headset, HoloLens, to teach its engineers how to start airplanes, Microsoft CEO Satya Nadella said.

Page 6: Environmental approvals for major projects such as mines could be reduced by between six and 18 months under existing regulations, due to a digital assessment regime to be introduced by the Morrison government as part of its new deregulation agenda.

Iron ore billionaire Andrew Forrest has joined Mike Cannon-Brookes as a lead early backer of the $20 billion-plus Sun Cable project set to drive Asia’s transition to cleaner energy.

Page 7: Social media giants such as Facebook and Twitter will be treated like traditional publishers and broadcasters under a revamp of defamation laws, Attorney-General Christian Porter has revealed.

Page 11: Major fossil fuel producing countries including Australia are on track to mine and drill far more coal, oil and gas than can be burned if governments across the world plan to keep their pledge to limit climate change, according to a new United Nations report.

Page 15: BUPA Australia boss Hisham El-Ansary wants the federal government to increase incentives for under-40s to take out private health insurance to help stem a steady exodus of younger members and keep premium increases at bay.

Page 17: One year after the demerger of Coles from Wesfarmers, shareholders in both companies are $16 billion richer, vindicating the decision to spin out the food and liquor retailer into a separately listed company.

Page 18: Mortgage brokers are attempting to have the Australian Competition and Consumer Commission stop a $120 million merger of Australian Finance Group with Connective Group because of an alleged illegal cartel they claim ‘‘blacklisted’’ them from the industry.

Page 19: Aristocrat Leisure, the $20 billion gaming machine giant, has more than a dozen mobile video games in its pipeline, signalling a growing focus on the digital business after it drove the company to a normalised after-tax profit of $752 million last financial year.

Page 20: Rio Tinto is confident the legal agreement to expand Mongolia’s Oyu Tolgoi copper and gold mine remains in force, despite indications a court in the Asian nation has ruled it to be invalid.

Page 21: Origin Energy has flagged a potential increase in dividends and ambitions for a larger exposure to controversial onshore shale gas exploration, buoyed by a balance sheet helped by $500 million of cost reductions at its LNG operation.

Seven Group managing director Ryan Stokes has welcomed the Morrison government’s latest cash splash on infrastructure projects to kick-start the stalling Australian economy.

Page 32: WeWork’s rapid expansion in Australia has ground to a halt with two significant office-leasing deals between the co-working operator and two of the country’s biggest landlords now dead in the water.

 

 

The Australian

Page 3: Mining billionaire Andrew Forrest has called for Rugby Australia to put the game’s best interests ahead of “arrogance and ego” as he flagged a potential radical breakaway West Australian side to compete on the international stage.

Page 8: Farmers who drive long distances, and pay hefty petrol excise, are subsidising inner-city electric car drivers who pay none, prompting a peak infrastructure body to call for a “road user charge” on electric vehicles to share the tax burden more fairly.

Page 17: The Business Council’s incoming president, Tim Reed, has vowed to help business “earn the trust of the community” in his first speech to the council’s annual dinner on Wednesday night.

Page 18: After less than two years in the job, Fortescue Metals chief executive Elizabeth Gaines has been chosen as the second most successful global company leader of 2019 by US business magazine Fortune.

Australian Agriculture Company has cut its first-half loss by 80 per cent on what the company says were its strongest wagyu meat sales to date.

Page 21: Westpac’s spectacular compliance failure is directly linked to the bank’s much touted direct entry into the remittance market three years ago through the LitePay service.

 

 

The West Australian

Page 4: Paul Whyte shelled out $100,000 on four thoroughbreds at a single yearling sale as a fuller picture of the racing interests of the allegedly corrupt public servant and his co-accused Jacob Anthonisz emerges.

The multimillion-dollar corruption scandal engulfing the Department of Communities is a “wake-up call” for WA’s public sector, says Auditor-General Caroline Spencer.

Page 8: Defence Minister Linda Reynolds has held briefings and a workshop in Canberra on the lucrative submarine maintenance work that is the subject of an interstate stoush between South Australia and WA.

Donald Trump has put plans to travel to Australia on ice as he battles an impeachment inquiry at home.

Page 11: Researchers have taken another step towards the development of a genetic risk profile for melanoma that will allow doctors to warn parents about children most susceptible to excessive sun exposure.

Page 16: Three elderly couples threatened with eviction over the Sterling First fiasco have had a major legal win, with a judge ruling they have a case to argue that they are entitled to stay in the properties they thought they had leased for life — and also allowing them to stay until it is decided.

Page 18: Gun owners will be able to hand in their weapons, no questions asked, from next year when Australia launches a national continuous gun amnesty.

Business: Mineral Resources chief Chris Ellison, one of mining’s most demanding bosses, says his attitudes to workplace culture and staff retention have changed as the company “turbocharges” efforts to retain talent.

WA is about to export its first locally caught octopus to the lucrative Chinese market, coinciding with the fishery receiving an internationally renowned sustainability certification.

Australia’s mid-tier miners have experienced a quiet boom in recent years driven by favourable commodity prices and some good investment decisions, according to PwC.

The State Government plans to bill the Aboriginal association at the centre of a mass animal welfare scandal in the Pilbara nearly $800,000 to recoup the cash it spent euthanising livestock and repairing bores.

A Perth-based insuretech startup has partnered with Bunnings to offer Australia’s tradies discounted access to its managed insurance product.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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