02/09/2016 - 06:21

Morning Headlines

02/09/2016 - 06:21

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PM warns G20 on low global growth

Prime Minister Malcolm Turnbull will argue against a retreat towards protectionism at the Group of 20 leaders summit in China, as the International Monetary Fund said a 2 per cent extra growth target agreed to at the same meeting in Brisbane two years ago was now out of reach. The Fin

Poynton v Barnett in the war of the west

One of Western Australia’s most prominent businessmen and Liberal Party donor, John Poynton, has lambasted Premier Colin Barnett for ‘‘grossly offensive’’ personal attacks after he was accused of mounting a ‘‘silent coup’’ by commissioning a poll that showed Labor would win next year’s election. The Fin

Coalition has near miss over banks

The government had a near miss on Thursday night when Labor exploited the tight numbers to almost nearly have the House of Representatives pass a motion endorsing a bank royal commission. With Coalition MPs headed for the airport, Labor successfully moved to debate the motion and in doing so, inflicted the first loss for a government in the House of Representatives since 1962. The Fin

Future Fund misses its target

Lower returns are forcing the Future Fund to increasingly look to private investments to maintain performance as it enters its second decade, after revaluations and specialised lending helped add more than $5 billion to its balance for the financial year. The Aus

Resources market may be stabilising, says Orica boss

Explosives group Orica is not yet prepared to call the bottom of the resources market downturn. But, armed with feedback from an unrivalled presence at 450 mines across the world, its chief executive Alberto Calderon is prepared to say things are stabilising. The Aus

VW faces big fines over ‘rort’

German auto giant Volkswagen faces multimillion-dollar fines for allegedly misleading more than 50,000 Australians over the quality of their new cars. The West

Beament hails star board appointments

Northern Star Resources’ newly-promoted chief Bill Beament has challenged the fast-growing gold producer to seize the “massive” opportunity offered by a WA expansion which could double production inside four years. The West

 

The Australian Financial Review

Page 1: Prime Minister Malcolm Turnbull will argue against a retreat towards protectionism at the Group of 20 leaders summit in China, as the International Monetary Fund said a 2 per cent extra growth target agreed to at the same meeting in Brisbane two years ago was now out of reach.

Page 3: One of Western Australia’s most prominent businessmen and Liberal Party donor, John Poynton, has lambasted Premier Colin Barnett for ‘‘grossly offensive’’ personal attacks after he was accused of mounting a ‘‘silent coup’’ by commissioning a poll that showed Labor would win next year’s election.

Page 5: The government had a near miss on Thursday night when Labor exploited the tight numbers to almost nearly have the House of Representatives pass a motion endorsing a bank royal commission. With Coalition MPs headed for the airport, Labor successfully moved to debate the motion and in doing so, inflicted the first loss for a government in the House of Representatives since 1962.

Page 8: Energy Minister Josh Frydenberg has backed away from the introduction of a market-based emissions trading scheme recommended by the Climate Change Authority saying Australia was already on track to meet ambitious carbon reduction targets.

Page 9: Peter Costello and old people are the reason we have more ‘‘taxed-nots’’ in Australia, argues the Grattan Institute, which has modelled changes in the number of people who pay income tax.

The former federal treasurer and chairman of the Future Fund called on governments to do more to end their reliance on monetary policy to foster economic growth.

Page 14: The head of Deutsche Bank made a rare public call on Wednesday for cross-border mergers in Europe, weeks after Germany’s flagship lender scraped through regional stress tests.

Page 15: Businesses are keeping a tight grip on capital over the year ahead and spending looks to be limited to those companies which can count on the lift from investment in infrastructure and the boom in activity around tourism and health.

BHP Billiton’s new regime for tailings dams will require a full review of a dam’s design blueprint and its behaviour over time before any expansion can proceed.

Page 17: Alberto Calderon, chief executive of explosives maker Orica, says there ‘‘seems to be some stabilisation’’ in the mining world but stopped short of calling the bottom of the cycle.

The outlook for Rio Tinto, Fortescue Metals Group and Brazilian miner Vale has improved according to ratings agency Standard & Poors, which believes the big end of the mining industry will be able to increase dividends within two or three years.

Page 18: CSIRO chief executive Larry Marshall says he wants to bridge the gap between the $10 billion of federal research spending and the $2 trillion capital markets to turn more laboratory research into businesses and make science a pillar of the economy.

Page 20: The good times at Penfolds maker Treasury Wine Estates have flowed through to executive pay packets, with chief executive Mike Clarke’s jumping 32 per cent to $5.9 million for 2015-16.

Page 26: Northern Star Resources managing director Bill Beament says becoming the company’s executive chairman from November will allow him the space to think more strategically about the future of the gold miner, including its ambitious growth plans.

 

 

The Australian

Page 1: Malcolm Turnbull’s grip on power was dealt a severe jolt last night when his majority government became the first in five decades to lose a series of votes on the floor of the House of Representatives.

Page 2: Employers have vowed to resist union attempts to negotiate new pay deals in the retail sector that accept lower wage rises for most workers in exchange for thousands of employees getting increased weekend penalties.

Page 19: Lower returns are forcing the Future Fund to increasingly look to private investments to maintain performance as it enters its second decade, after revaluations and specialised lending helped add more than $5 billion to its balance for the financial year.

The latest inquiry into alleged banking industry misconduct by the Small Business Ombudsman will draw extensively from the staffing and wider resources of the corporate watchdog.

The price of the nation’s second-biggest export, coking coal, has surged in recent months, providing at least a temporary boost for Queensland and federal coffers and those of mining giant BHP Billiton.

Page 21: The Turnbull government’s media reform package has been delayed by another Senate inquiry, while crossbencher Nick Xenophon has demanded that any rule changes be predicated on TV licence fee cuts.

Page 22: Explosives group Orica is not yet prepared to call the bottom of the resources market downturn. But, armed with feedback from an unrivalled presence at 450 mines across the world, its chief executive Alberto Calderon is prepared to say things are stabilising.

 

 

The West Australian

Page 14: Key senator Nick Xenophon wants broadcast licence fee relief for TV networks and online tech giants whacked with a new tax, in return for supporting an overhaul of media ownership rules.

Page 18: German auto giant Volkswagen faces multimillion-dollar fines for allegedly misleading more than 50,000 Australians over the quality of their new cars.

Page 21: Running the gauntlet of airport security fills many with dread but an Auditor-General’s report has cast doubt on whether screening is effective.

Page 65: Northern Star Resources’ newly-promoted chief Bill Beament has challenged the fast-growing gold producer to seize the “massive” opportunity offered by a WA expansion which could double production inside four years.

A Pakistani businessman whose company was caught up in one of the worst animal welfare incidents to hit Australia’s live export industry is buying into Wellard as its share price plunges to record lows.

Page 66: China Southern Airlines is set to offer WA food producers a streamlined freight service direct to Baiyun International Airport in Guangzhou.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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