26/11/2019 - 06:35

Morning Headlines

26/11/2019 - 06:35

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Morning Headlines

Chevron looks to squeeze more from local LNG plants

A decade on from committing to the massive Gorgon LNG project in Western Australia, Chevron’s new local head Al Williams says the US major is looking to squeeze more output from its Australian portfolio, which also includes the large Wheatstone project. The Fin

Ore some magnetic attraction boosts output

Gina Rinehart’s Roy Hill has begun commissioning a new plant at its Pilbara iron ore mine as part of its plans to reach an annual production rate of 60 million tonnes a year. The West

Westpac twists over dirty money           

Credit ratings agency Moody’s has warned that AUSTRAC’s money laundering claims against Westpac are credit negative and says all of the nation’s banks are under pressure from low interest rates, weak credit growth, intense competition and increased regulatory scrutiny. The Fin

Fresh injection to help tackle aged care crisis

The Morrison government has announced $537 million towards solving the aged care crisis, with the promise of more to come in the May budget – and more again once the royal commission winds up this time next year. The Fin

Caltex $1b IPO to unlock value of servo sites

Caltex Australia chief executive Julian Segal shook off concerns about any impact from the growing take-up of electric cars on the initial public offering of 250 of the company’s service stations, saying the business was futureproofed thanks to its strong retail arm. The Fin

Unhappy Hanson has union crackdown Bill heading for a bust

Christian Porter’s union-busting Bill is in jeopardy after Pauline Hanson said her support was not guaranteed and she was disappointed how it had been handled by the Government. The West

NAB the pick for first-home scheme

The National Australia Bank has been appointed as the first major lender for the government’s first home loan deposit scheme after committing to not charging eligible customers higher interest rates and offering guarantees when the housing stimulus package begins on January 1. The Aus

Defiant HK delivers Beijing a hiding

Hong Kong voters have capped five months of democracy protests, violence and anarchy with the most crushing electoral blow yet to the government and administration of Chief Executive Carrie Lam. The Aus

Stamp duty relief could ‘backfire on unit sector’

The property sector wants changes to the State Government’s new stamp duty rebate amid fears the scheme may delay construction rather than spark it. The West

Mine’s more than 400 jobs at risk

Gold miner Millennium Minerals has gone into administration, putting more than 400 jobs at risk. The West

 

 

The Australian Financial Review

Page 1: Credit ratings agency Moody’s has warned that AUSTRAC’s money laundering claims against Westpac are credit negative and says all of the nation’s banks are under pressure from low interest rates, weak credit growth, intense competition and increased regulatory scrutiny.

Page 2: An increase in compulsory superannuation could slow wage growth the Reserve Bank of Australia has warned, providing support to claims from the Grattan Institute that middle-income earners will be worse off under the scheduled rise.

Page 5: The Morrison government has announced $537 million towards solving the aged care crisis, with the promise of more to come in the May budget – and more again once the royal commission winds up this time next year.

Page 7: Assistant superannuation minister Jane Hume has hit back at industry funds after they claimed to be better at reuniting people with lost and unclaimed super.

Page 9: Fintech payments juggernaut Afterpay breached anti-money laundering laws because it initially received incorrect legal advice about how to comply, an independent audit has found.

Page 12: Caltex Australia chief executive Julian Segal shook off concerns about any impact from the growing take-up of electric cars on the initial public offering of 250 of the company’s service stations, saying the business was futureproofed thanks to its strong retail arm.

Page 14: NBN Co would be freed up to use its Commonwealth-backed clout to compete for fibre broadband contracts in new residential developments, under rule changes flagged by the federal government.

Page 19: More than 7 per cent of existing jobs in the Australian workforce stand to be displaced by technology advances in the next decade and the country is short of the skills required to do the new roles that will replace them, according to a new report by global forecasting firm Oxford Economics.

 

 

The Australian

Page 1: Embattled Westpac chief executive Brian Hartzer told his executives on Monday that the bank’s pedophile money scandal was “not an Enron or Lehman Brothers”, and mainstream Australia was not overly concerned so “we don’t need to overcook this”.

Page 2: Senior company executives fear an “unprecedented rise” in workplace activism driven by employee discontent with rising automation, executive pay levels, surveillance of workers and management decisions could cost companies up to 25 per cent in annual revenue.

Page 4: The National Australia Bank has been appointed as the first major lender for the government’s first home loan deposit scheme after committing to not charging eligible customers higher interest rates and offering guarantees when the housing stimulus package begins on January 1.

Page 9: Hong Kong voters have capped five months of democracy protests, violence and anarchy with the most crushing electoral blow yet to the government and administration of Chief Executive Carrie Lam.

Page 17: China Inc has bought itself a commanding position in Australia’s $13bn dairy industry and a vastly strengthened platform of consumer brands and bulk milk supply to feed its global trade ambitions after China Mengniu Dairy agreed to buy Lion Dairy & Drinks for $600m.

Page 19: Brazil’s JBS, the world’s biggest meat processor, has warned it expects Australian beef production to fall and exports to key markets such as Japan, South Korea and the US to similarly shrink next year as the drought and bushfires constrict cattle herds.

Page 20: Saudi Aramco has moved to sell shares to some of the biggest sovereign wealth funds after several potential corporate buyers snubbed the opportunity to take part in its float.

 

 

The West Australian

Page 10: Scott Morrison has thanked Donald Trump for America’s involvement in securing the release of Australian Timothy Weeks, who was freed last week after being held prisoner by the Taliban for three years.

Christian Porter’s union-busting Bill is in jeopardy after Pauline Hanson said her support was not guaranteed and she was disappointed how it had been handled by the Government.

Page 11: Public service financial management will be strengthened to help stop the rorting of taxpayers’ money and “put a rocket up” the sector as the fallout from the alleged $25 million corruption scandal continues.

Page 14: E-scooter company Beam and the City of Bunbury are working together for the first proposed e-scooter trial in the State.

Business: The property sector wants changes to the State Government’s new stamp duty rebate amid fears the scheme may delay construction rather than spark it.

Gina Rinehart’s Roy Hill has begun commissioning a new plant at its Pilbara iron ore mine as part of its plans to reach an annual production rate of 60 million tonnes a year.

Gold miner Millennium Minerals has gone into administration, putting more than 400 jobs at risk.

WA’s biggest live animal exporter has confirmed the industry is lobbying to keep two-tier ships — to be outlawed in less than five weeks — operating on Australian waters.

Nufarm shares plunged nearly 20 per cent yesterday after the ag-chem supplier announced weak demand and unforeseen sales rebate claims are expected to wilt its half-year result.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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