Singapore start-up to undercut NBN, telcos
A Singaporean start-up plans to take on the national broadband network and the rest of the industry by offering 100-megabits-a-second internet access for $90 a month. TPG charges $99 a month and Optus $125 a month. The Fin
Barnaby still grounded as Indon cattle cuts start to bite
Agriculture Minister Barnaby Joyce is no closer to visiting Indonesia despite his promise to deliver a wake-up call to Australia’s biggest customer over a shock cut in the live cattle trade. The West
Small banks may avoid deposit tax
Small banks and credit unions would be exempt from a deposit tax under a plan by Treasurer Joe Hockey that would ease political and industry resistance towards the tax but be another financial blow to the big four banks. The Fin
JB Hi-Fi to throw kitchen sink at rivals as profit lift defies expectations
JB Hi-Fi boss Richard Murray has set a high benchmark for rivals after handing down a better-than-expected profit, fatter dividend and a share buyback, lifting the retailer’s shares almost 15 per cent. The Aus
Abbott cuts ambitions on carbon
The Abbott government will sharpen the political fight over climate change by outlining a compromise target to reduce greenhouse gas emissions and stepping back from more ambitious goals out of concern about the impact on the economy. The Aus
Hames’ laser bid for quay
A decision will be made within weeks on whether Tourism Minister Kim Hames’ dream of a permanent “sound and light spectacular” at Elizabeth Quay will become a reality. The West
The Australian Financial Review
Page 1: Small banks and credit unions would be exempt from a deposit tax under a plan by Treasurer Joe Hockey that would ease political and industry resistance towards the tax but be another financial blow to the big four banks.
Even though the commercial television industry is struggling, Nine Entertainment Co has decided to almost double the amount it pays to broadcast the National Rugby League, making a bet that sport can help solve its considerable challenges.
Page 4: Rural and regional Coalition MPs are urging Tony Abbott to rethink his refusal to leave media laws untouched and allow specific exemptions that would enable regional television networks to try and survive.
Page 5: The Abbott government will seek to exploit damaging allegations against the construction union in the Heydon royal commission by bringing on a Senate vote next week to reintroduce the Australian Building and Construction Commission.
Page 6: EY has a 14 per cent rise in reported income to $1.29 billion for the 12 months to June 30, on the back of asset privatisation programs in NSW, Queensland, Western Australia and Victoria, in further evidence that growth has returned to the global accounting profession despite tough trading conditions.
Page 13: National Australia Bank has calmed fears that banks are being hit by a rising tide of bad loans, delivering a $1.75 billion third-quarter profit that helped fuel a lift in bank shares.
Page 15: The heads of Westpac and AMP have told a Senate committee that they would back moves to force them to pay into a compensation scheme to provide a safety net for victims of their smaller rivals who have been left destitute, and pay higher licensing fees to help fund policing of their industry.
Page 19: A Singaporean start-up plans to take on the national broadband network and the rest of the industry by offering 100-megabits-a-second internet access for $90 a month. TPG charges $99 a month and Optus $125 a month.
Page 21: The software firm behind a new approach to anti-money laundering using big data has warned Australian banks and law enforcement that the real estate sector has become a hotbed for financial crime.
Page 22: The Australian market for the so-called ‘‘internet of things’’, or connected home devices, is tipped to grow by almost 11 times in the next four years, hitting $3.2 billion in 2019, new research from Telsyte has found.
The Australian
Page 1: The Abbott government will sharpen the political fight over climate change by outlining a compromise target to reduce greenhouse gas emissions and stepping back from more ambitious goals out of concern about the impact on the economy.
Page 2: Treasury secretary John Fraser warned yesterday that growth was slowing in many major regional economies and crucial reforms that might have helped were stalling.
Australia could forgo $4.2 billion in tariff revenue out to 2018-19 because of the free-trade agreement with China, according to new figures that threaten to reignite debate over the multibillion-dollar deal.
Page 4: Tony Abbott is struggling to convince his own MPs he can revive the government’s fortunes, as backbenchers warn of a calamitous election defeat if nothing is done to repair his standing with voters.
Page 7: Ride-sharing service UberX faces being shut down in NSW if an injunction filed with the state’s Supreme Court by a vigilante hire car driver is successful.
Page 19: JB Hi-Fi boss Richard Murray has set a high benchmark for rivals after handing down a better-than-expected profit, fatter dividend and a share buyback, lifting the retailer’s shares almost 15 per cent.
Page 20: It is feared there are more job losses on the horizon for South Australia as mining company Arrium prepares to release an update next week on a strategic review of its business, including the Whyalla steelworks.
Rio Tinto’s Australian iron ore expansions that are weighing on prices and closing down higher cost production are putting the company’s higher-cost Canadian operations at risk of closure.
Page 29: A group of five wealthy Australian investors have thrown their support behind on-demand cleaning start-up Whizz, which has closed a $2 million Series B raising with support from the likes of Goldman Sachs Australia boss Simon Rothery, Collingwood FC vice-president Alex Waislitz, Godfreys chief executive Tom Krulis and property investor Allen Linz.
The West Australian
Page 1: The number of WA childcare services found breaking the law has doubled for the second year running after Government inspectors stepped up compliance visits in the State’s growing childcare sector.
Page 3: Motorists are feeling the pain of a sharp increase in petrol profit margins amid warnings drivers in country areas could be even worse off in coming months.
Page 4: New House of Representatives Speaker Tony Smith has promised a less partisan approach to the job in a bid to restore respect for Parliament.
Page 13: Commuters needed the best possible infrastructure to tempt them out of cars and on to public transport, Transport Minister Dean Nalder said yesterday while updating progress on Perth City Link’s underground busport.
Page 15: A decision will be made within weeks on whether Tourism Minister Kim Hames’ dream of a permanent “sound and light spectacular” at Elizabeth Quay will become a reality.
Business: Agriculture Minister Barnaby Joyce is no closer to visiting Indonesia despite his promise to deliver a wake-up call to Australia’s biggest customer over a shock cut in the live cattle trade.
BHP Billiton has swung its low-grade Rocky’s Reward nickel mine back into operation as low prices threaten supply from mid-tier WA miners that feed ore to its Nickel West unit.