16/01/2020 - 06:57

Morning Headlines

16/01/2020 - 06:57

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Morning Headlines

Hackers hit up to 100,000 WA accounts

Hackers have stolen personal information from up to 100,000 West Australians in a cyber attack on the State’s biggest locally owned bank. The West

Art of the deal: Trade pact must force China shake-up

Today’s US-China trade deal will be worth all the economic and financial market pain of the past two years if it leads to further market-friendly concessions from Beijing, says a leading Australian business adviser to President Donald Trump.

China’s ‘robust’ steel demand set to continue

Fortescue Metals Group says growth in China’s steel demand will slow this year but remain robust, as the country’s urbanisation drives demand for Australian iron ore despite a slowing economy and US trade tensions. The Fin

Iron ore tipped to stay high

Iron ore prices are likely to remain elevated above $US90 a tonne for weeks as cyclone-related disruptions in WA crimp supply and Chinese steel mills continue re-stocking ahead of the country’s traditional new year celebrations. The West

Maxsted exit reorders boardroom hierarchy

Low-profile CSL director Christine O’Reilly is set to succeed outgoing Westpac chairman Lindsay Maxsted as the country’s most powerful director, as Mr Maxsted’s departure triggers a shake-up of boardrooms. The Fin

Google to sweep up its digital cookie crumbs

Changes to the way websites can share users’ browsing data, announced by Google on Tuesday, promise to stop the creepy feeling of being followed around the web by advertisers but risk further entrenching the tech giant’s dominance in online advertising. The Fin

Kenny rejects Murdoch climate coverage attack

News Corp commentator Chris Kenny has defended the company’s coverage of climate change as the media giant faced intensified criticism over its reporting, this time from James Murdoch, who broke ranks with the family empire and took aim at its news outlets in Australia. The Fin

Denham to go renewable

Horizon Power is investigating building a hydrogen demonstration plant in Denham, about 100km south of Carnarvon in the Shire of Shark Bay, to be paired with solar and wind generators to ensure the town’s 500-odd residents have electricity around the clock. The West

Undertaker turns tables in Mesa row

Insolvency accountant Bryan Hughes is suing a backer of Mesa Minerals for more than $270,000 of legal bills from a battle over his administration of the collapsed manganese hopeful. The West

 

 

The Australian Financial Review

Page 1: Today’s US-China trade deal will be worth all the economic and financial market pain of the past two years if it leads to further market-friendly concessions from Beijing, says a leading Australian business adviser to President Donald Trump.

Low-profile CSL director Christine O’Reilly is set to succeed outgoing Westpac chairman Lindsay Maxsted as the country’s most powerful director, as Mr Maxsted’s departure triggers a shake-up of boardrooms.

Page 3: The civil war within the Construction, Forestry, Maritime, Mining and Energy Union has exploded, with the union’s national leader launching extraordinary legal action against John Setka to stop him poaching members.

Changes to the way websites can share users’ browsing data, announced by Google on Tuesday, promise to stop the creepy feeling of being followed around the web by advertisers but risk further entrenching the tech giant’s dominance in online advertising.

Page 4: News Corp commentator Chris Kenny has defended the company’s coverage of climate change as the media giant faced intensified criticism over its reporting, this time from James Murdoch, who broke ranks with the family empire and took aim at its news outlets in Australia.

Page 7: Scott Morrison has declined to express confidence in French shipbuilder Naval Group to deliver Australia’s future submarine fleet following a scathing audit that found the project was running nine months’ late and $400 million spent on design work had not been ‘‘fully effective’’.

Page 12: Australian coal miners say there are plenty of investors willing to replace those blacklisting the sector, as the world’s biggest fund manager announced a new policy that will reverse its aggressive buying of Australian coal stocks over the past year.

Page 14: Fortescue Metals Group says growth in China’s steel demand will slow this year but remain robust, as the country’s urbanisation drives demand for Australian iron ore despite a slowing economy and US trade tensions.

Page 15: South Africa-based Woolworths has knocked back suggestions that it will consider divesting troubled department store David Jones under its new chief executive.

Page 18: Canada’s Alimentation Couche-Tard is understood to be the only party interested in a full takeover bid for Caltex Australia, with the rival approaches made over the past few weeks limited to only parts of its business.

 

 

The Australian

Page 1: Nationals deputy leader Bridget McKenzie handed out $100m in sports grants before last year’s election without apparent legal authority in a process that often ignored merit and favoured marginal Coalition seats and those targeted by the government.

Page 2: A senior Australian Huawei representative has criticised former prime minister Malcolm Turnbull for using “factually incorrect information” to explain why the Chinese company should not deliver fifth-generation wireless technology to Britain.

Page 8: Growing concern over China’s economic and strategic influence across Southeast Asia, and a perceived US retreat from the region, is forcing ASEAN nations to look to Japan, the EU and — as a distant third option — Australia as trusted counter-weights.

Page 15: The victims of the prolonged downturn in the nation’s $320bn retail sector keep piling up, with national jeans and fashion chain Jeanswest placed into voluntary administration on Wednesday, just weeks after the collapse of department store Harris Scarfe and the demise of women’s fashion chain Bardot.

Page 18: EMR Capital boss Jason Chang says the IPO window is still firmly open for mining floats with the right assets and operating mines, as the private equity play adds Resolute Mining’s Ravenswood operations to its portfolio.

 

 

The West Australian

Page 7: Thousands of tradies doing contract work for the State Government will be paid up to 50 per cent faster after Mark McGowan yesterday closed a payment loophole exposed by The West Australian.

Page 8: National fashion chain Jeanswest is the latest casualty of Australia’s bleak retail landscape, yesterday calling in administrators from KPMG to restructure the ailing business.

Page 10: Parents in bushfire-affected regions will get an extra $400 to assist with back-to-school costs and other items for their kids as the Federal Government continues its response to the national crisis.

Page 11: West Australians are being asked whether it is more important to keep one of Perth’s most iconic landmarks for local families or if it needs new attractions to lure tourists.

Page 14: Former intelligence agency watchdog Vivienne Thom is leading an inquiry into a top Treasury official who is on leave after an incident at the department’s ball last year in which he is alleged to have been involved.

Page 16: A trial of direct flights between Perth and Shanghai — the second-biggest city in the world — will generate $15 million for WA’s tourism sector.

Page 20: Horizon Power is investigating building a hydrogen demonstration plant in Denham, about 100km south of Carnarvon in the Shire of Shark Bay, to be paired with solar and wind generators to ensure the town’s 500-odd residents have electricity around the clock.

Business: Hackers have stolen personal information from up to 100,000 West Australians in a cyberattack on the State’s biggest locally owned bank.

Insolvency accountant Bryan Hughes is suing a backer of Mesa Minerals for more than $270,000 of legal bills from a battle over his administration of the collapsed manganese hopeful.

Premier Mark McGowan has blasted the Chamber of Commerce and Industry WA’s assessment the State economy was in “survival mode”.

Iron ore prices are likely to remain elevated above $US90 a tonne for weeks as cyclone-related disruptions in WA crimp supply and Chinese steel mills continue re-stocking ahead of the country’s traditional new year celebrations.

A research group has warned that Australian superannuation funds face a tougher task in 2020 after last year returning a bumper average 13.8 per cent on their so-called balanced investment offerings.

Shares in Kalamazoo Resources soared 60 per cent yesterday after the junior gold explorer received an $8 million investment from Canada’s Novo Resources and billionaire gold bull Eric Sprott.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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