30/06/2016 - 06:10

Morning Headlines

30/06/2016 - 06:10

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Morning Headlines

CEOs plead for stability

Leading chief executives and business figures have issued a last-minute plea to voters to avoid a Brexit-style vote for independent and fringe parties that could lead to a hung Parliament and hurt the economy for years. The Fin

Push to bolster trade links with Australia

The European Union is manoeuvring to use Britain’s planned exit from the bloc to strengthen trade and political ties directly with Australia. The Fin

Trump vows China trade war

Donald Trump vowed to rip up international trade deals and start an unrelenting offensive against Chinese economic practices, framing his contest with Hillary Clinton as a choice between hard-edge nationalism and the policies of ‘‘a leadership class that worships globalism’’. The Fin

EU departure may force more RBA cuts

The fallout from Brexit could make the Australian dollar even more alluring to investors, say leading economists and fixed-income experts, adding to intense pressure on the RBA to cut the cash rate to 1.5 per cent and lower. The Fin

Shorten praised for shift on federal corruption watchdog

A Labor proposal to reopen an inquiry into establishing a federal ICAC have been welcomed by global anti-corruption group Transparency International. The Aus

Fonterra meets milk cuts half way

New Zealand dairy giant Fonterra last night cut the milk price offered to its Australian farmers to $4.75 a kilogram for the year ahead, putting it in the middle of the prices offered by rivals Bega Cheese and Murray Goulburn. The Aus

Brexit ‘unlikely’ to spur banking crisis

Britain’s vote to exit the European Union is “very unlikely” to spur a fresh banking crisis and the chances of a more severe break-up in Europe has decreased, according to fund manager Hamish Douglass. The Aus

Iron ore miners back port move

Atlas Iron has welcomed a move by the West Australian government to extend a discount on port costs to besieged junior iron ore miners. The Aus

Satterley talk rubbish, says Barnett

Colin Barnett has rubbished claims he threatened Liberal Party MPs with corruption proceedings for dealing with property developer Nigel Satterley. The West

 

 

The Australian Financial Review

Page 1: Leading chief executives and business figures have issued a last-minute plea to voters to avoid a Brexit-style vote for independent and fringe parties that could lead to a hung Parliament and hurt the economy for years.

Page 3: Australia’s executive jobs market improved by 4 per cent in the month of June, but recruiters are warning it’s not all ‘‘champagne times’’, with the overall level of demand sitting at the lowest in five years.

The housing boom has delivered massive upside to some sellers but left others, those selling inner-city apartments in Melbourne, or regional homes, or properties in Perth, with losses.

Page 4: Small and medium business owners have cooled on Prime Minister Malcolm Turnbull just as he needs their votes, but they still view his government more favourably than the former Labor governments, the MYOB Business Monitor finds.

Page 9: The European Union is manoeuvring to use Britain’s planned exit from the bloc to strengthen trade and political ties directly with Australia.

Consumers are missing out on savings of up to 30 per cent on their energy bills because they are not shopping around for their supplies, just as a new era emerges in retail competition giving them greater control over their energy use, according to the Australian Energy Market Commission.

Page 11: Australia has missed the opportunity to be a financial services hub in Asia because of political dithering, and needs to be more nimble and agile to capitalise on future opportunities, KPMG Australia chairman Peter Nash says.

Page 12: Donald Trump vowed to rip up international trade deals and start an unrelenting offensive against Chinese economic practices, framing his contest with Hillary Clinton as a choice between hard-edge nationalism and the policies of ‘‘a leadership class that worships globalism’’.

Page 15: Money poured into safe-haven assets such as bonds and gold following the Brexit result but even before that, Australian investors were taking a keener interest in bonds.

Page 17: Britain’s exit from the European Union will intensify the headwinds facing institutional banks as spiking volatility and prolonged low interest rates weigh on revenue, says the new head of ANZ Banking Group’s institutional bank, Mark Whelan.

Page 19: A slide in earnings from Caltex Australia’s sole remaining refinery will keep a lid on first-half profits this year but double-digit growth in marketing has provided encouragement to the market on the outlook.

Page 20: McAleese is pushing ahead with a restructuring deal with Hong Kong’s SC Lowy, despite a revolt by some of its biggest shareholders, who oppose a recapitalisation plan for the troubled transport group.

Page 22: Swedish appliances giant Electrolux has purchased Vintec, the Sydney-based wine fridge company, as its product becomes more mainstream in Australia’s kitchens.

Page 29: The fallout from Brexit could make the Australian dollar even more alluring to investors, say leading economists and fixed-income experts, adding to intense pressure on the RBA to cut the cash rate to 1.5 per cent and lower.

Page 36: The sale of a Bunnings warehouse in Perth and Dan Murphy’s in Melbourne on sub-5 per cent yields were the standout results from a Burgess Rawson portfolio auction on Wednesday, which raked in $30 million in sales.

Page 41: New home sales fell for a second month in May as sales of detached houses declined across the eastern seaboard, particularly in the previously buoyant market of NSW.

 

 

The Australian

Page 3: The costs of the Nine Network’s disastrous child abduction story in Lebanon continue to escalate, with the network transferring more than $500,000 to its Lebanese legal team last week.

Page 4: A Labor proposal to reopen an inquiry into establishing a federal ICAC have been welcomed by global anti-corruption group Transparency International.

Page 6: A re-elected Coalition government would “plainly” have a mandate to pass its entire budget, according to Malcolm Turnbull, because for the first time a budget had been taken straight to an election for the people’s approval.

Page 19: Dissident investors in the $400 million AMP China Growth Fund have stepped up their campaign for the wind-up and return of capital from the listed investment trust, publishing an open letter in the hope of swaying undecided unitholders at a vote next month.

Page 21: New Zealand dairy giant Fonterra last night cut the milk price offered to its Australian farmers to $4.75 a kilogram for the year ahead, putting it in the middle of the prices offered by rivals Bega Cheese and Murray Goulburn.

The boss of failed restaurant operator Keystone Hospitality Group, investment banker Richard Facioni, said yesterday the company was making its repayments on $80 million in debt when its lenders, international private equity giants KKR and Olympus, pulled the plug by appointing receivers on Tuesday.

News Corp Australia and job classifieds website Seek have launched a new commercial arrangement, which the companies believe will create a market-leading employment offering.

Page 22: Atlas Iron has welcomed a move by the West Australian government to extend a discount on port costs to besieged junior iron ore miners.

Page 23: Britain’s vote to exit the European Union is “very unlikely” to spur a fresh banking crisis and the chances of a more severe break-up in Europe has decreased, according to fund manager Hamish Douglass.

 

 

The West Australian

Page 5: West Australian motorists are being ripped off as billions of dollars in fuel excise is siphoned out of the State and sent to road projects across the country.

Page 9: A Singaporean developer has won planning approval for Perth’s fourth tallest building — a 52-storey development that will be one of the biggest residential towers in the central business district.

Page 16: Colin Barnett has rubbished claims he threatened Liberal Party MPs with corruption proceedings for dealing with property developer Nigel Satterley.

Page 77: Ferngrove chief executive Anthony Wilkes has left the company after 12 years in charge of the wine and cattle empire owned by a Chinese ball bearing magnate.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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