18/07/2016 - 06:29

Morning Headlines

18/07/2016 - 06:29

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Morning Headlines

PM bends to revolt over super

A rebellion within the federal Coalition over new superannuation rules has emboldened key crossbench senators to signal their own hostility to the government’s super plans, as Prime Minister Malcolm Turnbull appeared to soften former ‘‘ironclad’’ guarantees that the policy would not change. The Fin

Buck stops with you, PM warned

Malcolm Turnbull is being warned against any “blame shifting” over his election strategy when he faces Coalition MPs today, as he prepares for a test of his authority by holding out an olive branch on superannuation tax hikes to prove he is listening to colleagues. The Aus

Only extreme event will trigger RBA QE

Emergency policy measures studied by the Reserve Bank of Australia would only be needed if China’s financial system collapsed or a similarly dramatic event seized up global markets, says a leading expert. The Fin

Rio tipped to sell off smaller divisions

Rio Tinto may sell $US4 billion ($5.3 billion) of the $US16 billion of non-core assets it owns over the next three years, and its Australian coal, aluminium smelting and diamond businesses are among the unneeded operations, according to analysis by UBS. The Fin

Call to honour ABCC mandate

Business is urging the new Senate to respect Malcolm Turnbull’s electoral mandate by reviving the Australian Building and Construction Commission or risk entrenching a new weakness at the heart of the nation’s system of parliamentary democracy. The Aus

Chinese steel frenzy behind iron ore surge

The forces driving a recent 20 per cent surge in the iron ore price became clearer in recent days as monthly Chinese data revealed the Asian giant’s steel mills are at their busiest ever, despite expectations of a slowdown. The Aus

Lithium gets second wind

The lithium boom has been showing signs of maturing. In a winnowing process that all booms go through, there has been a natural floating to the top of those with the biggest and best lithium positions. The Aus

Alinta steps up gas bills war

Energy giant Alinta is offering huge discounts on some customers’ bills plus gift cards as part of its increasingly aggressive campaign to defend market share from rival Kleenheat. The West

British eye Australian trade deal

Australia could be one of the first nations to sign a free trade agreement with Britain once it is untethered from the European Union. The West

Worst over for economy: forecasters

The WA economy is only in an economic pothole rather than going over the cliff, one of the nation’s most respected forecasters believes, with the worst probably over. The West

 

 

The Australian Financial Review

Page 1: A rebellion within the federal Coalition over new superannuation rules has emboldened key crossbench senators to signal their own hostility to the government’s super plans, as Prime Minister Malcolm Turnbull appeared to soften former ‘‘ironclad’’ guarantees that the policy would not change.

Page 3: Emergency policy measures studied by the Reserve Bank of Australia would only be needed if China’s financial system collapsed or a similarly dramatic event seized up global markets, says a leading expert.

Biscuit king Arnott’s is taking Streets to court to stop it from selling mint slice ice-cream after its alliance with the ice-cream maker fell apart.

Page 5: The Turnbull government’s diverted profits tax is unnecessary and will ‘‘imperil’’ the flow of foreign investment into Australia, leading American companies warned ahead of a business round table with visiting US Vice-President Joe Biden.

Page 7: Northern Territory Chief Minister Adam Giles has called for a national summit to ‘‘deal with issues arising from the crisis in South Australia caused by the state’s over-reliance on renewables’’.

Page 8: Young men are ‘‘astoundingly’’ oblivious to issues of gender bias and pay inequality in the workforce, new data shows.

Page 12: Both the Gillard and Abbott governments ignored a 2012 warning that legislative loopholes were allowing unscrupulous colleges to abuse the VET FEE-HELP student loan scheme, which resulted in the waste of billions of dollars in the next three years.

Page 13: China has become less of a source of risk to the world and it will again turn to its reform agenda, says Nikko Asset Management’s Robert Mann.

Page 16: Boeing marked its centennial on Friday with plans to sharpen its focus on innovation, including ambitious projects for supersonic commercial flight and a rocket that could carry humans to other planets.

Page 18: Rio Tinto may sell $US4 billion ($5.3 billion) of the $US16 billion of non-core assets it owns over the next three years, and its Australian coal, aluminium smelting and diamond businesses are among the unneeded operations, according to analysis by UBS.

The slide in LNG prices in the June quarter is set to act as a heavy drag on June quarter sales to be reported by oil and gas producers this week, despite the unexpectedly strong bounce back in crude oil.

Page 22: In the Wall Street dogfight between two billionaire investors, William A. Ackman won a moral victory but Carl C. Icahn won the war over the future of Herbalife, the nutritional supplements company.

 

 

The Australian

Page 1: Malcolm Turnbull is being warned against any “blame shifting” over his election strategy when he faces Coalition MPs today, as he prepares for a test of his authority by holding out an olive branch on superannuation tax hikes to prove he is listening to colleagues.

Page 2: For Australia’s warships or aircraft to carry out freedom-of navigation patrols with the US close to China’s artificial islands in the South China Sea could have devastating consequences, two key Chinese government advisers have warned.

Page 3: It hasn’t taken long for brands to jump on the Pokemon Go bandwagon, with Woolworths, TAB, Sportsbet, KFC and others targeting advertising towards the new mobile craze.

Page 5: Health Minister Sussan Ley says there is a “deeper problem” behind the Liberal Party’s failure to bring more female MPs into its ranks, claiming there is a “growing disengagement and disenchantment” from women towards politicians on all sides.

Business is urging the new Senate to respect Malcolm Turnbull’s electoral mandate by reviving the Australian Building and Construction Commission or risk entrenching a new weakness at the heart of the nation’s system of parliamentary democracy.

Page 6: The Chinese company found to have supplied asbestos-tainted materials on two major Australian construction projects is testing for asbestos on 12 other products imported from China and used in buildings across Australia.

Page 19: The forces driving a recent 20 per cent surge in the iron ore price became clearer in recent days as monthly Chinese data revealed the Asian giant’s steel mills are at their busiest ever, despite expectations of a slowdown.

Australian biotech AdAlta is planning to raise $8 million to list on the Australian market to develop a drug it says could stop the progression of lung fibrosis.

ASX-listed South African miner Universal Coal plans to forge ahead with a second producing project after the last-minute collapse of a $130 million takeover offer launched in December.

The activist hedge fund run by Chris Hohn has built a secret stake in Calton & United Breweries owner SAB Miller, cranking up pressure on the brewer to revise the terms of its £77bn ($134bn) sale to the owner of Budweiser.

Page 22: Nearly a decade ago, General Motors engineers and Carnegie Mellon University researchers shuttled between Detroit and Pittsburgh, working on a moon-shot project: developing cars that could drive themselves.

Page 26: The lithium boom has been showing signs of maturing. In a winnowing process that all booms go through, there has been a natural floating to the top of those with the biggest and best lithium positions.

 

 

The West Australian

Page 3: Energy giant Alinta is offering huge discounts on some customers’ bills plus gift cards as part of its increasingly aggressive campaign to defend market share from rival Kleenheat.

Page 9: Australia could be one of the first nations to sign a free trade agreement with Britain once it is untethered from the European Union.

Property giant Charter Hall has revealed a detailed proposal for a dramatic $150 million Raine Square overhaul, including a multi-screen cinema and hotel tower.

Page 10: The WA economy is only in an economic pothole rather than going over the cliff, one of the nation’s most respected forecasters believes, with the worst probably over.

Page 11: Former State minister Murray Cowper is on the warpath over a proposed Albany gas pipeline and what he claims will be the “official theft” of rural land.

Page 59: The wave of tech-focused backdoor listings that swept through Perth over the past two years has turned into a trickle, with the combination of new listing rules and fading sentiment creating a perfect storm.

Page 60: The Housing Industry Association of WA says Malcolm Turnbull should appoint a Minister for Housing as part of his Cabinet overhaul.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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