17/12/2019 - 06:58

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17/12/2019 - 06:58

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‘Ample’ supply raises stakes for WA gas

A revised outlook for ample gas supply for Western Australian consumers for the next decade is expected to give added incentive for explorers sitting on large onshore discoveries to access LNG export infrastructure amid depressed prices in the local market. The Fin

Smaller surpluses to limit stimulus

Scott Morrison’s future surpluses have been downgraded by $21.6bn over the next four years and wound back by $2.1bn this financial year, putting pressure on the government’s ability to inject extra stimulus into the economy before the May budget. The Aus

UK-Australia FTA could include visa-free travel

Australian workers could enjoy visa-free travel to the UK under a post-Brexit free trade agreement, with Canberra and London eager to sign a deal before Christmas 2020. The Fin

Pilots to lose jobs as Jetstar cuts fleet

Fallout from industrial action at Jetstar could see up to 50 pilots lose their jobs and another 50 demoted because of a reduction in the airline’s Boeing 787-8 fleet. The Aus

Treasurer vows to eliminate debt bill

Josh Frydenberg has pledged to pay down the nation’s $392.3bn net debt amid attacks from Labor that the Coalition had breached a promise to eliminate the debt bill within a decade. The Aus

Caltex closer to Couche-Tard buyout

Caltex is edging closer to a deal with potential Canadian-based bidder Couche-Tard, which is considering signing a confidentiality agreement for limited due diligence on the fuels retailer.

EBay-owned classifieds website Gumtree is understood to be in negotiations to buy the Australian automotive classifieds businesses Carsguide and Autotrader. The Fin

Treasurer insists mid-year forecast not bad news

Treasurer Josh Frydenberg says the Federal Government will throw everything at lowering unemployment and boosting wages following the release of its Mid-Year Economic and Fiscal Outlook yesterday. The West

Cosmetic surgeon ‘put lives at risk’

A fly-in, fly-out cosmetic surgeon claiming to earn more than $90,000 a month is fighting for his medical registration after botched tummy tucks at a Subiaco clinic endangered the lives of two women, the State Administrative Tribunal has heard. The West

Poor debut savages new Afterpay competitor

Afterpay competitor Openpay has made a hard landing on the Australian Securities Exchange, with its shares finishing their first day at a 17 per cent discount to the company’s issue price. The West

 

 

The Australian Financial Review

Page 3: There are calls for better consumer protection after Hostplus’ ‘‘balanced’’ superannuation fund was exposed by the regulator as being heavily weighted to risky assets.

Page 4: Forecasts for economic growth, inflation, unemployment and wages all took a hit in the latest budget update yesterday, placing added pressure on the Reserve Bank to cut interest rates in February.

Page 6: Australia is the only country in the world openly planning to use Kyoto carryover credits to meet its Paris agreement targets, but other countries have much bigger stores that, if used, could push up global temperatures by an additional 0.1 degrees, says Climate Analytics.

UK-Australia FTA could include visa-free travel

Australian workers could enjoy visa-free travel to the UK under a post-Brexit free trade agreement, with Canberra and London eager to sign a deal before Christmas 2020.

Page 9: Australia’s largest auditor of blue-chip companies, PwC, has called on former Commonwealth auditor-general Ian McPhee to scrutinise its work, as it seeks to get on the front foot while a parliamentary inquiry looks into claims of poor audit quality.

Page 10: Companies and government departments using artificial intelligence technology must be accountable through laws – not merely industry codes of ethics – to allow customers to understand and potentially challenge decisions made using AI, the Australian Human Rights Commission says.

For the first time, more small business bosses are planning to sustain cash flow, pay wages and keep their doors open using non-bank lenders rather than their mainstream competitors, according to a new analysis.

Page 17: Jetstar plans to fight staunch industrial action from pilots and ground crew with sharp capacity cuts in January, with the budget airline expecting the work stoppages and reprisal to cut up to $25 million from its bottom line.

EBay-owned classifieds website Gumtree is understood to be in negotiations to buy the Australian automotive classifieds businesses Carsguide and Autotrader.

The alcoholic cider market has gone backwards in the past year as drinkers increasingly choose healthier options, making it harder for Asahi to reap high prices for brands it will need to sell to satisfy the competition regulator in the Carlton & United Breweries buyout.

Page 18: AMP has ramped up its program of refunding hundreds of thousands of ‘‘low value’’ but potentially satisfied financial advice customers with cheques worth thousands of dollars each since late November.

Page 20: A revised outlook for ample gas supply for Western Australian consumers for the next decade is expected to give added incentive for explorers sitting on large onshore discoveries to access LNG export infrastructure amid depressed prices in the local market.

 

 

The Australian

Page 1: A plan to give drought-stricken farmers more water by rewriting a century-old water-sharing deal between the states is on the verge of collapse, ahead of talks between state and federal ministers in Brisbane.

Scott Morrison’s future surpluses have been downgraded by $21.6bn over the next four years and wound back by $2.1bn this financial year, putting pressure on the government’s ability to inject extra stimulus into the economy before the May budget.

Page 2: India will urge Australian superannuation funds to ramp up investment in its surging economy as it seeks cheaper access to Australian coking coal and a new visa class for Indian IT workers.

Fallout from industrial action at Jetstar could see up to 50 pilots lose their jobs and another 50 demoted because of a reduction in the airline’s Boeing 787-8 fleet.

Page 4: Subdued wage growth is expected to continue for the next two years but average pay rises will continue to outstrip inflation.

Josh Frydenberg has pledged to pay down the nation’s $392.3bn net debt amid attacks from Labor that the Coalition had breached a promise to eliminate the debt bill within a decade.

The Morrison government’s aged care package announced in response to the royal commission’s scathing interim report has received an $87m boost, but a peak lobby group says the risk of emergencies in the sector still “looms large” in 2020.

Page 13: Australian shares delivered a $33bn surge as expectations grew of additional interest rate cuts and possible quantitative easing after a subdued growth outlook in the government’s budget update.

Australian shares delivered a $33bn surge as expectations grew of additional interest rate cuts and possible quantitative easing after a subdued growth outlook in the government’s budget update.

Page 14: South Africa-based Woolworths is understood to be coming under increasing pressure in the Australian retail market and is fending off suggestions it may be looking at options for a retreat.

Energy giant Shell has bought a 49 per cent stake in Australian solar power developer Esco Pacific, boosting its exposure to renewable energy on the nation’s east coast.

Page 15: Caltex is edging closer to a deal with potential Canadian-based bidder Couche-Tard, which is considering signing a confidentiality agreement for limited due diligence on the fuels retailer.

 

 

The West Australian

Page 3: An asbestos-dumping site thought to be “half the size of a football field” has been discovered in knee-deep water off Perth’s popular Penguin Island.

Page 7: Bookkeeper Paola Colangelo has pleaded not guilty to nine corruption charges linked to the $22 million Department of Communities fraud scandal.

Australians could be dudding themselves hundreds of dollars in savings by not claiming on their extras cover before the end of the month.

Page 8: Treasurer Josh Frydenberg says the Federal Government will throw everything at lowering unemployment and boosting wages following the release of its Mid-Year Economic and Fiscal Outlook yesterday.

Page 16: A fly-in, fly-out cosmetic surgeon claiming to earn more than $90,000 a month is fighting for his medical registration after botched tummy tucks at a Subiaco clinic endangered the lives of two women, the State Administrative Tribunal has heard.

Page 21: Boris Johnson will put control of Britain’s borders, improvements to the National Health Service and investment in the north at the centre of a government shake-up designed to ensure years more of Conservative rule.

Business: Global research group Morningstar has confirmed that the more you pay in fees to managed funds, the lower the returns you can expect to receive.

Afterpay competitor Openpay has made a hard landing on the Australian Securities Exchange, with its shares finishing their first day at a 17 per cent discount to the company’s issue price.

The Master Builders Association has called on the Federal Government to expedite infrastructure projects after its Mid-Year Economic and Fiscal Outlook slashed growth forecasts.

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