27/06/2016 - 06:08

Morning Headlines

27/06/2016 - 06:08

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PM’s Brexit pitch for stability

Malcolm Turnbull has used Britain’s shock exit from the European Union to urge a vote for political and economic stability on July 2, while Labor further imperilled its prospects by admitting its policies would increase the budget deficit by $16.5 billion over four years. The Fin

Developers will cut jobs if Labor wins

More than half of property industry leaders surveyed say they will cut staff if Labor’s negative gearing plans come into effect because it would weaken property markets, the Urban Development Institute of Australia says. The Fin

Leave vote shakes oil and gas industries

Resource industry leaders have been shaken by the Brexit vote and left wondering whether the unexpected decision will have any longer-term impact on the outlook for energy and commodity markets. The Fin

Surge puts PM on cusp of victory

The Coalition has pulled ahead of Labor for the first time in the campaign, and enters the final week leading by 51 per cent to 49 per cent as the economy takes centre stage amid fallout from the Brexit. The Aus

British price war threatens Bunnings

A cutthroat price war in Britain’s £11 billion ($20bn) DIY hardware sector could neuter Bunnings’ plans to use an “everyday low price” model to win market share. The Aus

Bigger deficit will pay off: ALP

Bill Shorten will go to Saturday’s election promising to increase the Budget deficit over the next four years by $16.5 billion, hoping voters will accept his pledge to deliver bigger surpluses in the coming decade. The West

Brexit adds weight to imminent interest cut

Markets have it at almost a 50-50 chance that the Reserve Bank will cut rates when it holds its meeting next month, amid fears of a slowing global economy. The West

 

 

The Australian Financial Review

Page 1: Malcolm Turnbull has used Britain’s shock exit from the European Union to urge a vote for political and economic stability on July 2, while Labor further imperilled its prospects by admitting its policies would increase the budget deficit by $16.5 billion over four years.

Page 3: Officials from Treasury, the Reserve Bank of Australia and regulatory bodies are moving to calm their jittery political masters, insisting that the financial turmoil unleashed by the Brexit vote will not trigger another global financial crisis.

Clearance rates picked up in the four largest auction cities as low stock levels drove buyer demand ahead of school holidays and next week’s federal election.

Brexit will boost Australia’s residential property market as Britain’s decision to leave the European Union will increase perceptions of the market’s safe-haven status, observers say.

Page 6: More than half of property industry leaders surveyed say they will cut staff if Labor’s negative gearing plans come into effect because it would weaken property markets, the Urban Development Institute of Australia says.

Page 15: An independent United Kingdom’s first export to the world could be a second financial crisis, warns Geoff Wilson, chairman of Wilson Asset Management.

Page 18: Engineering giant WorleyParsons is heading into its annual results in the strongest position for several years after slowly winning back investor confidence with a solid cost-cutting program.

Volatility could expose fragile companies Australia’s largest infrastructure manager, IFM Investors, says Britain’s shock exit from the EU could spark a rash of deals across the continent, with market volatility likely to expose companies with fragile balance sheets.

Page 20: Resource industry leaders have been shaken by the Brexit vote and left wondering whether the unexpected decision will have any longer-term impact on the outlook for energy and commodity markets.

Page 22: Investors – especially those with hefty exposures to the financial sector – are in a state of dread as they wait to see what punishment will be meted out to the United Kingdom, and the City of London, in the wake of the Brexit vote.

Page 31: Australian uptake of subscription video on demand (SVOD) services has increased by almost 50 per cent in the last year and will overtake pay TV services such as Foxtel in the next three years, a new study has found.

 

 

The Australian

Page 1: The Coalition has pulled ahead of Labor for the first time in the campaign, and enters the final week leading by 51 per cent to 49 per cent as the economy takes centre stage amid fallout from the Brexit.

Page 3: Seven men, including three Australians and a New Zealander abducted in Nigeria last week have been released, according to a statement issued to media by their Australian employer last night.

Page 17: A cutthroat price war in Britain’s £11 billion ($20bn) DIY hardware sector could neuter Bunnings’ plans to use an “everyday low price” model to win market share.

Page 19: A key reason for BHP Billiton’s decision four years ago to indefinitely mothball a $30 billion plan to turn Olympic Dam into the world’s biggest uranium mine was the Fukushima nuclear plant explosion rather than cost concerns, it has been revealed.

Page 20: Britain’s withdrawal from the European Union could lead to a 5 per cent reduction in British air passengers by 2020 as a weaker pound and uncertainties about regulations dampen travel prospects, according to the global aviation industry’s trade body.

Page 23: Corporate executives are scrambling to assess the fallout from the British vote to leave the European Union, with some CEOs saying the move would put a chill on investment and deal-making and others vowing to stay the course.

 

 

The West Australian

Page 6: Bill Shorten will go to Saturday’s election promising to increase the Budget deficit over the next four years by $16.5 billion, hoping voters will accept his pledge to deliver bigger surpluses in the coming decade.

Page 52: Markets have it at almost a 50-50 chance that the Reserve Bank will cut rates when it holds its meeting next month, amid fears of a slowing global economy.

Wesfarmers chief executive Richard Goyder says Britain’s do-it-yourself home improvement sector should be “pretty resilient” in the event of an economic downturn, as the business world awaits the fallout from Friday's Brexit vote.

Page 53: The extent of the mining downturn has been highlighted by figures showing the WA sector has lost an average of 165 jobs every week for more than 2 1/2 years.

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