11/05/2022 - 06:45

Morning Headlines

11/05/2022 - 06:45

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Morning Headlines

‘Flush’ McGowan eyes healthcare fix

Western Australia is poised to unveil another multi-billion-dollar budget surplus on Thursday, with Premier Mark McGowan preparing to throw more cash at repairing the state’s struggling health system and easing cost-of-living pressures. The Aus

Investment tipped to lag windfall profits

WA’s economic outlook remains buoyed by surging commodity prices but uncertainty over how long they will remain elevated could lead to a slowing of crucial mining investment. The West

Woolies turns on QR code for shoppers

Woolworths has turned on paying with QR codes, a move that will let it link rewards and gift cards to payments to improve the checkout experience for customers and may eventually pressure card giants Mastercard and Visa. The Fin

Electric cars get a turbo charge

Rebates worth $3500 will be offered on the purchase of electric or hydrogen cars – but the McGowan Government has indicated that drivers of the green vehicles will be charged a fee for every kilometre they drive from 2027. The West

Pendal would consider Perpetual counter offer

Pendal has signalled to the market it will entertain a counter offer from prospective acquirer Perpetual, but only if it is based on the value of the combined business, as the ASX-listed investment manager reported a 7.5 per cent rise in first-half profits yesterday. The Fin

PM warns of ‘vandal’ Albanese

Scott Morrison has accused Anthony Albanese of engineering a reckless act of economic vandalism by supporting at least a 5.1 per cent minimum wage increase, warning inflation and interest rates would rise further while small businesses would face a significant hit to their costs. The Aus

Allegro out of hunt for DJs after low-ball offer

At least one party is understood to be in talks to buy David Jones after Allegro Funds made a bid that was thought to be worth about $400m for the luxury department store chain. The Aus

Money in the bank is best rate rise defence

Homeowners appear to be well-prepared for interest rate rises, with a major bank revealing customers had nearly trebled the rate of savings in offset accounts over the past two years. The West

Climate tax candidate

The Labor candidate in the crucial WA seat of Swan has spent years volunteering for a climate change organisation that wants the introduction of a carbon tax. The West

 

 

The Australian Financial Review

Page 1: Employers and economists are warning that Labor leader Anthony Albanese’s advocacy for pay rises greater than 5 per cent to keep pace with the soaring cost of living will crush businesses, fuel inflation and put upward pressure on interest rates.

Page 3: The head of Australia’s foreign intelligence agency has signalled that Chinese President Xi Jinping’s crackdown on dissent is backfiring and encouraging disgruntled Chinese officials to pass on information to Australian spies.

Page 14: Labor’s plan to recruit high-achieving school-leavers into the school teacher workforce by offering a $12,000 annual stipend would mostly be ‘‘just a windfall’’ to those who had already chosen it as a career path.

Page 18: AGL Energy chief executive Graeme Hunt says the board is pursuing legal and regulatory avenues to ensure the interests of other shareholders are protected as he accuses tech billionaire Mike Cannon-Brookes of trying to drive down the share price so he can get control of the electricity giant on the cheap.

On the eve of Australia’s first cryptocurrency exchange-traded funds making their debut, unregulated digital asset exchanges and financial advisers are warning investors of the unusually high fees attached.

Page 19: Woolworths has turned on paying with QR codes, a move that will let it link rewards and gift cards to payments to improve the checkout experience for customers and may eventually pressure card giants Mastercard and Visa.

Pendal has signalled to the market it will entertain a counter offer from prospective acquirer Perpetual, but only if it is based on the value of the combined business, as the ASX-listed investment manager reported a 7.5 per cent rise in first-half profits yesterday.

Page 22: Deep in the highlands of Mount Kuring-Gai, about 40 minutes north of Sydney’s CBD and nestled in a battleaxe business park, is Andrew Forrest’s latest bid to shake up traditional agriculture.

Page 23: An abrupt halt of Russian gas exports could see economies in Europe, Central Asia and North Africa slide back to pre-pandemic GDP levels, the European Bank for Reconstruction and Development warned yesterday.

 

 

The Australian

Page 1: Scott Morrison has accused Anthony Albanese of engineering a reckless act of economic vandalism by supporting at least a 5.1 per cent minimum wage increase, warning inflation and interest rates would rise further while small businesses would face a significant hit to their costs.

Page 2: Western Australia is poised to unveil another multi-billion-dollar budget surplus on Thursday, with Premier Mark McGowan preparing to throw more cash at repairing the state’s struggling health system and easing cost-of-living pressures.

Page 4: The GetUp campaign group has confirmed it recommends election candidates to voters based on their prospects of winning as a “necessary” condition – over and above the position candidates might take on issues such as climate change.

Page 15: Senior managers in National Australia Bank’s trading team requested staff fabricate responses to workplace surveys to avoid “making us look bad” – with the unit hit by at least a dozen departures in two years amid allegations of harassment and bullying.

Page 16: At least one party is understood to be in talks to buy David Jones after Allegro Funds made a bid that was thought to be worth about $400m for the luxury department store chain.

Page 19: AustralianSuper will chase higher returns for its 2.6 million members by quadrupling its exposure to global private equity to $50bn over five years, as the nation’s biggest superannuation fund scales up its new office in New York.

The Commonwealth Ombudsman has weighed into a funding dispute between Australia’s biggest private hospital operator Ramsay Healthcare and Bupa, saying it is considering taking action over fiery public comments made after funding talks failed between the pair.

 

 

The West Australian

Page 6: Colin Barnett believes Australia’s voting system needs to be overhauled to stop elections being “corrupted” by preference swap deals between parties.

Page 7: Homeowners appear to be well-prepared for interest rate rises, with a major bank revealing customers had nearly trebled the rate of savings in offset accounts over the past two years.

Page 9: The Labor candidate in the crucial WA seat of Swan has spent years volunteering for a climate change organisation that wants the introduction of a carbon tax.

Page 10: St John WA was down as many as nine ambulances in the Perth metropolitan area — the equivalent of 20 per cent of its rostered fleet — for part of Monday night, when an unprecedented alert warning of likely delays due to “extremely high demand” was in effect.

Page 22: Rebates worth $3500 will be offered on the purchase of electric or hydrogen cars – but the McGowan Government has indicated that drivers of the green vehicles will be charged a fee for every kilometre they drive from 2027.

Mark McGowan is refusing to confirm that West Australian households will receive an electricity bill credit worth hundreds of dollars in Thursday’s State Budget.

Business: Confidence among Australians fell to a 20-month low after the first official interest rate rise in more than decade, while business sentiment has been jarred by rising cost pressures.

WA’s economic outlook remains buoyed by surging commodity prices but uncertainty over how long they will remain elevated could lead to a slowing of crucial mining investment.

With cybersecurity more urgent than ever, the WA Government has unveiled world-leading protection — its new government cybersecurity operations centre.

Engineering group DRA Global and a trio of senior managers are facing regulatory sanctions over secret negotiations to dump its chairman and chief executive.

Forex Capital Trading liquidators have vowed to hit its Gilbraltar-based parent company for upwards of $77 million of losses suffered by customers of the failed high-pressure broker.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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