05/09/2016 - 06:13

Morning Headlines

05/09/2016 - 06:13

Bookmark

Upgrade your subscription to use this feature.
Morning Headlines

PM firm in China stand-off

Malcolm Turnbull has reemphasised Australia’s view that there can be no regional prosperity without peace as the stand-off between China and the United States over the South China Sea intensified and threatened to overshadow the G20 leaders summit in the Chinese city of Hangzhou. The Fin

Turnbull goes for full ‘effects test’

A draft bill of the biggest changes to competition law in decades will include a strong version of an ‘‘effects test’’ to prevent companies wielding too much market power, despite objections from big business. The Fin

Bank industry code training inadequate

Banks need to improve education on and enforcement of the industry’s code of conduct, which sets out the standards for ethical banking practice, according to submissions filed with an independent review into the Code of Banking Practice. The Fin

Leak torpedoes $2bn deal for more subs

The submarine leaks scandal has led India to abandon a $US1.5 billion ($2bn) option to buy three more subs from France as the fallout from the controversy continues to rock the global arms trade. The Aus

Woolies execs flee Masters ship

Woolworths has formally severed ties with its doomed hardware chain Masters after a mass resignation of Woolworths executives from the board of Hydrox Holdings, the joint venture that owns Masters, to be replaced by senior staff from Australian insolvency firm KordaMentha. The Aus

Bid to dock fine dodgers’ dole

WA’s Attorney-General will pursue a hardline proposal to dock the welfare payments of fine defaulters in a bid to recoup a debt of almost $380 million. The West

Miners dig in on Grylls tax

Global resources giants Rio Tinto and BHP Billiton are firing up their opposition to Brendon Grylls’ proposal to increase iron ore royalties, warning Australia would be imposing the highest tax on the resource anywhere in the world. The West

 

 

The Australian Financial Review

Page 1: Malcolm Turnbull has reemphasised Australia’s view that there can be no regional prosperity without peace as the stand-off between China and the United States over the South China Sea intensified and threatened to overshadow the G20 leaders summit in the Chinese city of Hangzhou.

Weaker than expected jobs data in the United States have all but ruled out a September rate hike by the Federal Reserve, putting more pressure on the Reserve Bank of Australia to counter the impact of a resilient Australian dollar by lowering the cash rate.

Page 4: One of the nation’s leading security and foreign policy experts has backed fresh calls for a ban on donations from foreigners amid concern over China’s influence on Australian affairs.

Page 5: A draft bill of the biggest changes to competition law in decades will include a strong version of an ‘‘effects test’’ to prevent companies wielding too much market power, despite objections from big business.

Big retailers are being targeted as the government delivers on a budget promise to restrict access to winemaking subsidies.

Page 6: A failure by the government to get superannuation changes through Parliament will mean our system of government is ‘‘irredeemably flawed’’, says a new report that calls for even deeper cuts to tax breaks for high-income earners.

Page 7: The boss of BAE Systems Australia, which generates $1.2 billion in revenues annually, says high-tech jobs growth can increasingly pick up the slack from the mining downturn and the demise of car manufacturing.

Page 8: The Turnbull government has moved to fast-track a Free Trade Agreement with Britain as British Prime Minister Theresa May emphasised it was a priority to clinch a deal with Australia.

Page 11: Hillary Clinton’s cabinet is expected to have a record number of women and a distinctly pro-Australian make-up of policymakers if she wins the US presidential election.

Trade Minister Steven Ciobo has compared the rise in protectionist sentiment in Europe and the United State to the anti-vaccination movement, saying Australia would continue to argue in favour of free trade agreements on the international stage.

Page 12: The Turnbull government is working with business to try out a new model of apprenticeships which will train young people in new technologies and give them a route to a high-paying professional career.

Page 15: Directors, execs to face court grilling Former directors and executives of Dick Smith Holdings, including Phil Cave and Bill Wavish, will be grilled in court this month over the consumer electronics retailer’s $400 million collapse.

A ‘‘once in a generation’’ turnover of the Australian coal sector has further to run, according to one of the driving forces behind two recent acquisitions, Taurus Funds Management.

Page 16: Banks need to improve education on and enforcement of the industry’s code of conduct, which sets out the standards for ethical banking practice, according to submissions filed with an independent review into the Code of Banking Practice.

Page 17: Private equity and venture capital bosses have argued superannuation funds cannot afford to sidestep them after a stoush over the fees they charge overshadowed the industry’s annual conference last week.

Westpac Banking Corp is calling for the Turnbull government to double the lifetime ceiling on after-tax superannuation contributions from the proposed, controversial $500,000 limit.

 

 

The Australian

Page 1: The submarine leaks scandal has led India to abandon a $US1.5 billion ($2bn) option to buy three more subs from France as the fallout from the controversy continues to rock the global arms trade.

Page 4: Sweeping welfare reforms introduced by New Zealand’s Key government have cut more than $NZ12 billion ($11.6bn) in long-term liabilities from the system, allowing for the first meaningful increase in benefit payments in four decades.

Page 17: Woolworths has formally severed ties with its doomed hardware chain Masters after a mass resignation of Woolworths executives from the board of Hydrox Holdings, the joint venture that owns Masters, to be replaced by senior staff from Australian insolvency firm KordaMentha.

The chief executive of real estate services giant JLL has warned that the unhealthy political climate is sapping business confidence, with the country’s leaders unable, or unwilling, to sell the message of budget repair.

Biotech giant CSL has been taken to court in the US accused of failing to pay royalties on a key drug used to protect transplant patients from life-threatening disease.

Page 19: Australian biotech QBiotics is on track to progress trials for a new wound-healing gel — developed from a plant from a north Queensland rainforest — to treat diabetic ulcers after investors backed its latest funding round.

Page 20: The Turnbull government needs to step up efforts to encourage investment in Australian biotechnology if it’s serious about creating new technology hubs, an industry leader has warned.

 

 

The West Australian

Page 1: WA’s Attorney-General will pursue a hard-line proposal to dock the welfare payments of fine defaulters in a bid to recoup a debt of almost $380 million.

Page 8: New laws to curb market power abuse by big companies could have a “deep” and “pervasive” effect on Australia’s economy, the head of the competition watchdog says.

Page 11: Global resources giants Rio Tinto and BHP Billiton are firing up their opposition to Brendon Grylls’ proposal to increase iron ore royalties, warning Australia would be imposing the highest tax on the resource anywhere in the world.

Page 52: Connecting WA to the national power grid has become a more viable option thanks to technological advances, executives of power technology giant ABB say.

The WA Supreme Court has delivered a damning assessment of a rescue plan for Pluton Resources, saying it had risked re-floating a “dysfunctional” company likely to inflict more damage on creditors.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options