03/12/2019 - 06:49

Morning Headlines

03/12/2019 - 06:49

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Morning Headlines

Mining drives air travel boom in WA

Air travel in WA is booming, with regional traffic up 10.6 per cent in the first four months of this financial year fuelled by a resurgence in the resources sector, putting pressure on the airport and airlines to agree to new terminals and another runway. The West

Miners say good IR system needs less regulations

Resources employers have called on the Morrison government to cut regulation in high-paying sectors as part of its push to encourage harmonious workplaces, as unions demand that the government dump its anti-union bill first. The Fin

Tech titans put heat on MPs

Digital giants Facebook, Google and Twitter have unleashed a lastditch round of political lobbying in Canberra, in a bid to pressure the Morrison government into rolling back its response to the competition watchdog’s digital platforms inquiry. The Aus

Caltex worth more, says Pengana

Fuel retailer Caltex should hold out for a higher takeover bid from Canadian suitor Couche-Tard, with the current $8.6bn offer not a fair reflection of the value to be realised from a property spin-off and retail revamp, major shareholder Pengana Capital says. The Aus

Productivity slump hits economy

The weakest productivity numbers in at least 25 years have unsettled the outlook for an economic recovery, a pickup in wage growth and a string of budget surpluses predicted by the Morrison government and the Reserve Bank of Australia. The Fin

New push for Belt and Road trade deal

Business is stepping up pressure on the federal government to take China’s Belt and Road Initiative (BRI) seriously, with lobby groups China Matters and the Australia China Business Council both pushing for more action. The Aus

Life insurance product losses ‘unsustainable’

The prudential regulator has accused life insurers of ‘‘unsustainable practices’’ and ordered them to increase their capital buffers in a move likely to lead to higher premiums, following another year of massive losses. The Fin

Perenti exits risky mines

Australian mining companies remain committed to Burkina Faso, an industry group says, despite last month’s fatal attack on mine workers that has prompted a reassessment of the security risks in the west African nation. The West

Record-breaking year for live show revenues

The arts and entertainment sector clocked a record year at the box office in 2018 with total revenues hitting almost $2.2bn, but the industry says weak consumer confidence and wages growth may dampen future gains. The Aus

Liontown looks ahead on lithium

Liontown Resources boss David Richards predicts the lithium market will have recovered by the time its Kathleen Valley project enters production in 2024. The West

 

 

The Australian Financial Review

Page 1: The weakest productivity numbers in at least 25 years have unsettled the outlook for an economic recovery, a pickup in wage growth and a string of budget surpluses predicted by the Morrison government and the Reserve Bank of Australia.

The compliance manager removed by Westpac Banking Corp after reporting 29 million legal breaches to AUSTRAC has accused the bank of lacking an ethical culture and being more focused on building personal fiefdoms than protecting the public.

Page 4: Resources employers have called on the Morrison government to cut regulation in high-paying sectors as part of its push to encourage harmonious workplaces, as unions demand that the government dump its anti-union bill first.

Page 8: Agencies will also get an $88 million injection following warnings from ASIO that its resources are stretched and suggestions that only a handful of federal police have been assigned to carry out investigations.

Page 11: A blueprint for reforming the federal government’s controversial ‘‘robodebt’’ scheme has called for detailed information on overpayments to be provided to welfare recipients and enforcement against vulnerable people be halted.

Page 14: The prudential regulator has accused life insurers of ‘‘unsustainable practices’’ and ordered them to increase their capital buffers in a move likely to lead to higher premiums, following another year of massive losses.

Japan’s Inpex Corporation is seeking opportunities to expand its $US45 billion ($66 billion) Ichthys liquefied natural gas project in Australia’s north, with new exploration drilling and potential acquisitions also on the table.

Australia’s biggest superannuation fund says the investment thesis that attracted it to the country’s most-shorted stock remains intact, in a major vote of confidence for struggling graphite producer Syrah Resources.

Page 15: Street Talk can reveal grocery wholesaler Metcash, which operates the Mitre 10 hardware chain in a sector dominated by Bunnings, is in talks to acquire fast-growing specialist national tool retailer Total Tools.

Page 16: The Federal Court has fined Optus $6.4 million for misleading customers over the time frame of the mandatory switch to the NBN, in a case brought by the Australian Competition and Consumer Commission (ACCC).

Page 19: Uber’s practice of arbitrarily cancelling the logins of its drivers and giving them no right of reply is forcing drivers to use fake accounts and contributing to the troubles the transport company is having with authorities, a peak body representing Australian ride-share drivers claims.

 

 

The Australian

Page 1: More than one-third of the asylum-seekers and refugees in Papua New Guinea and Nauru have applied for transfer to Australia under medivac laws, with a rush of applications lodged before a parliamentary vote to terminate the scheme.

Digital giants Facebook, Google and Twitter have unleashed a last-ditch round of political lobbying in Canberra, in a bid to pressure the Morrison government into rolling back its response to the competition watchdog’s digital platforms inquiry.

Page 4: Australian deradicalisation programs have had some success with terrorists but we’re a long way off finding a way to ensure every participant loses their extremist views, one of the country's top experts in the field says.

Page 5: A push is on for MPs to be covered by rules preventing them acting on behalf of foreign interests, with a Senate committee warning that the nation’s Foreign Influence Transparency Scheme isn’t functioning as intended.

Page 6: The arts and entertainment sector clocked a record year at the box office in 2018 with total revenues hitting almost $2.2bn, but the industry says weak consumer confidence and wages growth may dampen future gains.

Page 8: Russia’s most significant energy project since the collapse of the Soviet Union will open on Tuesday in a $US55bn partnership with China that will influence global politics, trade and energy markets.

Page 17: Life insurance companies will be punished by the prudential regulator with a series of “substantial” new capital penalties, after showing “no discernible signs” of improving their businesses and losing an extra $1bn since the watchdog warned the industry to shore up its practices in May.

Page 18: BHP is in the hunt for business development managers as it looks to build up its internal M&A team as it enters the Mike Henry era.

Page 19: Fuel retailer Caltex should hold out for a higher takeover bid from Canadian suitor Couche-Tard, with the current $8.6bn offer not a fair reflection of the value to be realised from a property spin-off and retail revamp, major shareholder Pengana Capital says.

Huawei Australia says 1500 local jobs could be lost as the 5G ban forces the Chinese telecommunications giant to pare back its relationship with local contractors.

Page 20: Business is stepping up pressure on the federal government to take China’s Belt and Road Initiative (BRI) seriously, with lobby groups China Matters and the Australia China Business Council both pushing for more action.

 

 

The West Australian

Page 3: Screens, homework, caffeine and varied bedtimes are stopping one-in-two teens from getting the sleep they need, a new study shows.

Page 6: Education Minister Dan Tehan could visit China next year amid growing tensions with the Asian superpower.

A WA Labor senator has endorsed illegal union activity, saying sometimes the law needs to be broken in order to keep workers safe.

Page 9: The head of the union for WA’s private school teachers has been accused of workplace bullying — including claims of “offensive name calling” and “objects being thrown at employees”.

Page 10: A $12 million aged-care facility in the remote Kimberley is still vacant five years after completion because of a lack of operational funding.

Business: Air travel in WA is booming once again with regional traffic up 10.6 per cent in the first four months of this financial year on the back of a resurgence in the resources sector, putting pressure on the airport and airlines to agree to new terminals and an additional runway.

Australian mining companies remain committed to Burkina Faso, an industry group says, despite last month’s fatal attack on mine workers that has prompted a reassessment of the security risks in the west African nation.

A heady sharemarket run by Fortescue Metals Group has sent the value of Andrew Forrest’s stake in the Pilbara iron ore miner he founded soaring back over $10 billion.

Liontown Resources boss David Richards predicts the lithium market will have recovered by the time its Kathleen Valley project enters production in 2024.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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