11/05/2016 - 06:28

Morning Headlines

11/05/2016 - 06:28

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Chinese student influx sets record

Almost 50,000 Chinese students started courses in Australian universities, colleges and schools this year, up 23 per cent on last year, making students from China more important than ever to the booming education export industry. The Fin

Labor’s wealth plan - for 2095

Australians are being promised an 80-year pay-off from Bill Shorten’s pledge to lift school funding in a crucial election fight over economic growth, as the government derides the “fantasy forecast” in the Labor plan. The Aus

Scarborough Beach to get extra $18m for foreshore makeover

The State Government will commit another $18 million to the Scarborough Beach foreshore revitalisation project in tomorrow’s budget. The West

Analysis casts doubt on WA’s $15b power sale

Unions have increased pressure on the Barnett government to justify selling the state’s electricity distribution network by releasing analysis on the eve of the budget that shows a sale would hit finances by up to $363 million a year. The Fin

Food executives say suppliers squeezed

Retailers’ claims that international food companies are treating Australia like Treasure Island are a ‘‘fallacy’’ and unless returns improve, suppliers will be unable to invest to fuel growth, leading food executives say. The Fin

New ‘lithium-ion age’ excites Deutsche

Deutsche Bank has become the latest big investment house to jump on board the lithium bandwagon, although its in-depth analysis of the red-hot market includes some insights that could worry those backing the lithium sector’s less advanced players. The Aus

Saracen starts production at Thunderbox

Gold miner Saracen Mineral Holdings has started commercial production at the Thunderbox mine near Leinster, bringing its second operation online for $63.4 million. The West

 

 

The Australian Financial Review

Page 1: Anger among the Coalition’s support base over proposed retrospective changes to superannuation is boiling over with senior businessman Malcolm Broomhead and former deputy prime minister Mark Vaile adding their criticism.

Page 3: The coalition is facing major disruption to the nation’s ports in the lead-up to the July 2 federal election after stevedore Patrick threatened to lock 900 employees out of the wharves if the maritime union takes fresh industrial action.

Almost 50,000 Chinese students started courses in Australian universities, colleges and schools this year, up 23 per cent on last year, making students from China more important than ever to the booming education export industry.

Page 4: Labor has flagged plans to revive the 12 per cent superannuation guarantee as it promised that all its policies would be costed before voters went to the polls on July 2.

Page 5: Labor’s superannuation policy would hit wealthy retirees harder than the Turnbull government’s ‘‘retrospective’’ plan because it would collect much more tax when returns were good, actuaries said.

Page 7: Unions have increased pressure on the Barnett government to justify selling the state’s electricity distribution network by releasing analysis on the eve of the budget that shows a sale would hit finances by up to $363 million a year.

Page 9: Citigroup has a confidential blacklist of foreign currencies it will no longer accept as payment for Australian real estate from overseas borrowers because of growing concerns about fraud and possible money laundering.

Page 13: Retailers’ claims that international food companies are treating Australia like Treasure Island are a ‘‘fallacy’’ and unless returns improve, suppliers will be unable to invest to fuel growth, leading food executives say.

Page 15: Private equity’s push into the Australian coal sector has continued as Denham Capital takes control of some of Peabody Energy’s best undeveloped acreage and hints it may buy more of the struggling coal miner’s Australian business.

The board of Papua New Guinea player InterOil has been taken to task by former chief executive Phil Mulacek for considering asset sales at the bottom of the market, a move that raises concerns over value for shareholders but which could pave the way for a reshaping of the PNG petroleum sector.

Page 17: Blackmores’ main rival Swisse Wellness has lifted its market share to 19 per cent in Australia to be the No. 1 brand at a retail level, but Blackmores is showing better overall momentum and stockbroker JPMorgan expects the share price to head back to $215.

Page 18: Banks have moved to pass on the full Reserve Bank interest rate cut to savings accounts more quickly than the reduction in mortgage rates, and Commonwealth Bank has even out-cut the central bank in a key deposit product.

 

 

The Australian

Page 1: Australians are being promised an 80-year pay-off from Bill Shorten’s pledge to lift school funding in a crucial election fight over economic growth, as the government derides the “fantasy forecast” in the Labor plan.

Page 5: An army of marginal-seat campaigners has been unleashed against the Turnbull government by unions, activists and environmental groups on a range of issues, including hospitals and schools funding, the environment and public service cuts.

Page 6: A sharp fall in the iron ore price has undermined one of the key forecasts in last week’s budget before the financial year even begins, potentially adding $3 billion a year to the deficit.

Page 19: Australia’s four major newspaper publishers yesterday disclosed advertising deals directly negotiated with brands for the first time, in a show of unity by News Corp Australia, Fairfax Media, West Australian Newspapers and APN News & Media.

The Australian Securities & Investments Commission is formally investigating dairy processing giant Murray Goulburn over its corporate disclosure practices after its shock downgrades to profits and its farmgate milk price led to the sudden resignation of chief executive Gary Helou.

Page 21: Incitec Pivot says rising east coast gas prices mean it will have to close the 47-year-old Gibson Island fertiliser plant in Brisbane, with the loss of 1500 jobs, if it cannot get government support and cheaper gas prices.

Page 22: Deutsche Bank has become the latest big investment house to jump on board the lithium bandwagon, although its in-depth analysis of the red-hot market includes some insights that could worry those backing the lithium sector’s less advanced players.

 

 

The West Australian

WA trade rates have dropped nearly five per cent over the past year but local tradesmen are still among the nation’s best paid, with Perth plumbers topping a national price list.

The latest Essential Research poll found nearly a third of respondents backing Scott Morrison as the better economic manager, up from 26 per cent in April.

The State Government will commit another $18 million to the Scarborough Beach foreshore revitalisation project in tomorrow’s budget.

Hundreds of individuals and properties across WA have been linked to a web of offshore companies created in some of the world’s most notorious tax havens.

Dacian Gold has positioned itself for a big resource increase at its Mt Morgans gold project after announcing broad gold intersections from the latest drilling.

Gold miner Saracen Mineral Holdings has started commercial production at the Thunderbox mine near Leinster, bringing its second operation online for $63.4 million.

The General Post Office building in Forrest Place could go back on the market as part of an Australia Post campaign to sell its historic post offices around the country and reinvest in its flagging mail business.

The Property Council is calling for changes to allow the property industry to play a bigger role in the future growth of WA’s economy when the State Budget is handed down tomorrow.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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