Qantas shares bumper profit with investors
Qantas chief executive Alan Joyce said the airline’s board was ‘‘very committed’’ to returning excess cash to shareholders after the company forecast it would report a bumper first-half underlying profit before tax of around $900 million. The Fin
LNG set to arrive at Gorgon
Chevron’s tough $US54 billion ($74.5 billion) journey to finish off the Gorgon project on Barrow Island is headed for a major milestone with the imminent arrival of a first LNG carrier. The West
Cheap oil gains go to retailers
Perth petrol retailers’ profit margins are the highest in a decade and motorists are not getting the full benefit of falling oil prices, Australia’s competition watchdog says. The West
Unions warn of national strike
Angry unions threatened a nationwide strike at a rally in Perth yesterday to support 101 construction workers facing individual fines up to $10,200 for an unlawful stoppage. The West
Minnows burning cash: Walsh
Rio Tinto chief Sam Walsh says smaller competitors are burning shareholders’ cash by mining iron ore at prices below $US40 a tonne — “hanging on by their fingernails” longer than Rio expected, as continued new supplies and sliding Chinese steel demand pressure prices. The Aus
Baby formula limits ignored in buying spree
A senior Woolworths executive has admitted the company pays mere ‘‘lip service’’ to enforcing its four-tin limit on infant formula, aimed at safeguarding supplies for Australian families. The Fin
Shift opens double dipping on PPL
New parents will be able to top up their employer’s paid parental leave scheme with the taxpayer-funded scheme to ensure they get 18 weeks of paid leave as the Coalition softens its crackdown on so-called “double dipping”. The Aus
Asylum costs spark $2bn blowout
Surging costs in the immigration detention network and an increase in the estimated cost of resettling 12,000 refugees from the Middle East have contributed to a blowout of $2 billion in the management of Australia’s asylum caseload. The Aus
The Australian Financial Review
Page 1: Pressure on the government to take bold economic reforms to next year’s election intensified after the mid-year budget update forecast ballooning deficits and abandoned the timeline for a return to meaningful surplus.
Page 3: A senior Woolworths executive has admitted the company pays mere ‘‘lip service’’ to enforcing its four-tin limit on infant formula, aimed at safeguarding supplies for Australian families.
Page 6: The Turnbull government’s Mid-Year Economic and Fiscal Outlook contains a bleak analysis of Australia’s debt – which currently has a gross face value of $429 billion – and what the impact on the budget bottom line would be by a 1 percentage point increase in government bond yields.
Page 8: The first tightening of US monetary policy in almost a decade could trigger increased demand for Australian assets such as commercial property, according to the Reserve Bank governor, Glenn Stevens.
Page 10: The ABC is preparing to appoint the first female managing director in its 86-year history: Google executive Michelle Guthrie, who will be paid around $1 million a year for the high-profile job.
Page 12: Stressed Australian workers are facing burnout, with a report finding employee willingness falling 2.6 per cent since the start of the year, threatening productivity.
Page 13: Qantas chief executive Alan Joyce said the airline’s board was ‘‘very committed’’ to returning excess cash to shareholders after the company forecast it would report a bumper first-half underlying profit before tax of around $900 million.
Page 15: Indian company Adani has moved one step closer to final approval for its $16.5 billion Carmichael mine after a Land Court in Brisbane rejected an appeal by environmentalists to stop the project.
Page 16: Health fund Bupa will start publishing price information on surgical procedures such as hip replacements to put pressure on fee-gouging surgeons and reduce customer anger in relation to shock out-of-pocket costs.
The Australian
Page 1: The government is on track to spend more than $21 billion a year on interest payments on commonwealth debt — more than it spends on public hospitals — as it puts off a budget surplus until early next decade.
New parents will be able to top up their employer’s paid parental leave scheme with the taxpayer-funded scheme to ensure they get 18 weeks of paid leave as the Coalition softens its crackdown on so-called “double dipping”.
Page 2: Landbridge, the Chinese company at the heart of the controversy over the 99-year lease of Darwin’s port, plans to buy much more Australian infrastructure, including oil and gas facilities.
Page 5: A year since the federal government overhauled its processing of boat arrivals with a promise to clear the backlog of about 30,000 asylum-seekers waiting to have their claims assessed, only eight people have been referred to the authority established to review their cases.
Page 7: It’s money for yams. Treasurer Scott Morrison has approved a new tax on sweet potatoes and will increase the tax on chestnuts from January 1.
Page 8: Patients who need pathology tests could face out-of-pocket expenses for the first time next year after the Turnbull government scrapped bulk-billing incentives, in a move a health consumers’ group claims will discourage early diagnosis.
Page 9: Surging costs in the immigration detention network and an increase in the estimated cost of resettling 12,000 refugees from the Middle East have contributed to a blowout of $2 billion in the management of Australia’s asylum caseload.
Page 17: Vet chain and pet care group Greencross could emerge as a takeover target amid market speculation a former shareholder, private equity major TPG Capital, is attempting to get back on to the company’s share register.
Page 18: Rio Tinto chief Sam Walsh says smaller competitors are burning shareholders’ cash by mining iron ore at prices below $US40 a tonne — “hanging on by their fingernails” longer than Rio expected, as continued new supplies and sliding Chinese steel demand pressure prices.
The West Australian
Page 3: Angry unions threatened a nationwide strike at a rally in Perth yesterday to support 101 construction workers facing individual fines up to $10,200 for an unlawful stoppage.
Page 6: Health costs may rise and training for aged-care workers may be cut as the Federal Government attempts to stem a $33.8 billion collapse in revenue that has driven the Budget further into the red.
Page 7: Scott Morrison has confirmed his intention to compensate WA for the “egregious” distribution of the GST, indicating the State can expect special treatment in next year’s Federal Budget.
Page 9: Perth petrol retailers’ profit margins are the highest in a decade and motorists are not getting the full benefit of falling oil prices, Australia’s competition watchdog says.
Page 16: Ratepayers will be able to see how their council’s finances stack up against the rest of WA local governments under a plan to put the information online in one place for the first time.
Business: Chevron’s tough $US54 billion ($74.5 billion) journey to finish off the Gorgon project on Barrow Island is headed for a major milestone with the imminent arrival of a first LNG carrier.
Rio Tinto copper boss Jean-Sebastien Jacques has flagged a rise in copper prices within two years, saying yesterday that expansion of Rio’s massive Oyu Tolgoi mine in Mongolia will “harvest the next copper cycle”.
