07/01/2020 - 06:31

Morning Headlines

07/01/2020 - 06:31

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Morning Headlines

$2b pumped into crisis relief

Scott Morrison has committed a $2 billion downpayment to rebuild bushfire ravaged communities, declaring the return to budget surplus is not a priority over providing support for the victims of the nation’s summer of flames. The Fin

Growth unlikely to suffer: JPMorgan

Death, destruction, loss of trading and big insurance claims from the devastating bushfire crisis won’t necessarily hit gross domestic product, according to JPMorgan. The Fin

ASIC bans adviser for failing clients

The Australian Securities and Investments Commission has banned a Perth-based financial adviser from working in the industry after he was caught shovelling customers with low superannuation balances into SMSFs on a platform he owned to invest in a fund he managed. The Fin

Rise of Perth Basin gas may lure M&A

Western Australia’s Perth Basin looks primed to cast off its reputation as a modest local onshore oil and gas province and potentially take on international significance, in a development that some expect to spark a wave of M&A in the sector. The Fin

The school costs are adding up

Australian families are expected to spend an average of $538 per child on back-to-school costs — with WA families being slugged $70 more than last year. The West

Gold the world’s safe place

Growing global geopolitical tensions have provided a boost for WA gold miners and petroleum producers with the price of both commodities up sharply yesterday. The West

Fires hit milk supplies as cattle culled

Fears of a milk shortage are rising as bushfires continue to devastate dairy farms across the NSW south coast and Gippsland in Victoria. The Aus

Packers take their donation up to $5m

Billionaire James Packer and Crown Resorts have lifted their donation to support bushfire relief to $5m, joining a growing number of billionaires and celebrities to back the fire recovery effort. The Aus

Authorities probe cyber attack on LSE

UK authorities are examining whether a trading outage blamed on a software hiccup at the London Stock Exchange in August may actually have been caused by a cyber attack aimed at disrupting markets. The Aus

 

The Australian Financial Review

Page 1: Scott Morrison has committed a $2 billion downpayment to rebuild bushfire ravaged communities, declaring the return to budget surplus is not a priority over providing support for the victims of the nation’s summer of flames.

Page 2: Big business is pulling together to set up a $25 million fund to help the children of volunteer firefighters who have been killed and has enlisted former governor-general Sir Peter Cosgrove to co-ordinate millions of dollars of additional assistance from business to rebuild torched communities.

Page 3: New vehicle sales across Australia dropped 3.8 per cent in December but have jumped in the biggest selling state, NSW – and could now be bottoming out, reflecting the strong recovery in house prices.

Page 7: Death, destruction, loss of trading and big insurance claims from the devastating bushfire crisis won’t necessarily hit gross domestic product, according to JPMorgan.

Page 8: Top executives from the big four consulting groups told a parliamentary inquiry their staff average 7.5 hours work a day at the end of a year in which junior corporate workers started pushing back on their work conditions.

Page 11: Iran said yesterday (AEDT) that it had suspended its commitments under the 2015 nuclear deal struck with world powers and would abandon the accord’s ‘‘final restrictions’’ on uranium enrichment and other activities unless US sanctions were lifted.

Page 12: The new head of China’s liaison office in Hong Kong, the most senior mainland official based in the territory, said yesterday China was the strongest backer of the Asian financial hub, which he hoped would return to ‘‘the right path’’.

Page 13: This year Australian shares will topple the record of 2019 and break through 7000 points for the first time according to leading market strategists, who warn the historic feat won’t be enough to match last year’s double-digit returns.

Page 14: Smart earphone maker Nuheara has made another shift in its evolving sales strategy, now targeting direct-to-consumer sales, after realising that consumers were hesitant to have their hearing tested in public.

Page 15: The Australian Securities and Investments Commission has banned a Perth-based financial adviser from working in the industry after he was caught shovelling customers with low superannuation balances into SMSFs on a platform he owned to invest in a fund he managed.

Page 17: Western Australia’s Perth Basin looks primed to cast off its reputation as a modest local onshore oil and gas province and potentially take on international significance, in a development that some expect to spark a wave of M&A in the sector.

Page 26: Shares reversed early losses yesterday to close marginally ahead, as geopolitical tensions overshadow the first full week of trading for 2020.

Page 28: Will the American assassination of a top Iranian general prove the catalyst that pushes the oil price above the peak of $US85 a barrel, which it last reached in October 2018?

Page 29: Property investors who are counting on home values to double every seven or eight years are in for a reality check, as new research shows many areas are worth less now than they were more than a decade ago.

 

The Australian

Page 4: Billionaire James Packer and Crown Resorts have lifted their donation to support bushfire relief to $5m, joining a growing number of billionaires and celebrities to back the fire recovery effort.

Page 6: British Prime Minister Boris Johnson will this week urge the president of the European Commission to push on with trade talks as he seeks to secure a deal with the EU by the end of the year.

Page 12: Major carmakers are rushing to join the electric-vehicle fray with a series of new models due out this year.

Page 13: Australia has overtaken Qatar to become the world’s biggest annual exporter of liquefied natural gas, achieving the milestone as bushfires rage across the country and debate over the nation’s contribution to greenhouse gas emissions reignites.

Page 14: Fears of a milk shortage are rising as bushfires continue to devastate dairy farms across the NSW south coast and Gippsland in Victoria.

Page 15: Embattled Harris Scarfe retail staff were yesterday informed the struggling department store would close about one-third of its 60 plus stores imminently, with large numbers of full-time, part-time and casual positions affected.

Page 16: The new McDonald’s CEO is determined to make changes to move the company away from a culture that tolerated partying and fraternising between senior managers and employees.

Page 18: UK authorities are examining whether a trading outage blamed on a software hiccup at the London Stock Exchange in August may actually have been caused by a cyber attack aimed at disrupting markets.

 

The West Australian

Page 3: The North West was bracing last night as tropical cyclone Blake hovered menacingly off the Kimberley coast.

Page 10: Australian families are expected to spend an average of $538 per child on back-to-school costs — with WA families being slugged $70 more than last year.

Page 14: A Perth fast-food industry veteran has sued global pizza giant Domino’s and its highprofile multimillionaire boss for $3 million.

Page 20: In a dramatic day of escalating tension after the US killing of Iran’s top military chief Qassem Soleimani, multiple rockets have been fired at the US embassy in Baghdad and Iran withdrew from its nuclear limits.

Page 43: Growing global geopolitical tensions have provided a boost for WA gold miners and petroleum producers with the price of both commodities up sharply yesterday.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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