12/09/2016 - 06:22

Morning Headlines

12/09/2016 - 06:22

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Morning Headlines

Central bank fears spook markets

Investors are bracing for the wildest ride since the Brexit vote across stocks, bonds and currencies on Monday as speculation intensifies that central banks have reached a turning point in their ceaseless efforts to stimulate markets. The Fin

Miners lash Joyce’s ore comments

The mining industry has reacted angrily after National Party leader Barnaby Joyce said he ‘‘understood’’ what was driving a proposal from the West Australian branch of the party that sharply increases taxes paid by iron ore giants BHP Billiton and Rio Tinto. The Fin

Wheat glut will keep prices down

Prices for Australia’s biggest agricultural export, wheat, are likely to remain depressed for another 12 months, according to Rabobank. The Fin

NBN Co ‘faces uphill battle’

The National Broadband Network is going to struggle to turn a profit even after the network is completed in 2020, with industry experts warning that the company building the network is being overly optimistic with its take-up numbers. The Aus

Union deals make project costs double US

Sweetheart deals, union labour “cartels” and archaic work practices have made Australian construction costs almost double those in the US for some projects, according to a report recommending reforms to shave infrastructure costs by 10 per cent. The Aus

LNG plants set for $20bn energy boom

Australia’s decade-long gas investment boom could have further to run, with looming spare capacity at the nation’s oldest LNG plants providing the potential for $20 billion of development decisions in the next five years. The Aus

Billions stolen by GST: Grylls

WA Nationals leader Brendon Grylls has attacked Malcolm Turnbull as he continues his push for a new iron ore tax, accusing the Prime Minister of “stealing billions” in GST payments from WA. The West

Paroo lead set to roll again into Fremantle

The Canadian owners of a controversial Wiluna mine could be shipping lead through Fremantle by the middle of next year, after the environmental watchdog recommended a 60 per cent reduction in clean-up bonds required before the Paroo Station lead mine returns to production. The West

 

 

The Australian Financial Review

Page 1: Investors are bracing for the wildest ride since the Brexit vote across stocks, bonds and currencies on Monday as speculation intensifies that central banks have reached a turning point in their ceaseless efforts to stimulate markets.

Commonwealth Bank of Australia chief executive Ian Narev has accused business of being condescending towards the growing backlash against globalism, arguing many supporters of populist movements around the world are not the ‘‘lunatic fringe’’ but have legitimate grievances.

Page 2: The Business Council of Australia is in talks to engage Liberal powerbroker and husband of Peta Credlin, Brian Loughnane, to make its business agenda more relevant, following stinging criticism over the role of the premier business group in the federal election and the push for a corporate tax cut.

Page 4: Prices for Australia’s biggest agricultural export, wheat, are likely to remain depressed for another 12 months, according to Rabobank.

Page 6: Former prime minister John Howard has put Malcolm Turnbull on notice that he needs to unite a restive Coalition to see out his term and should tackle difficult taxation and industrial relations reform.

Page 7: Investors averse to a large upfront payment traditionally associated with property investments can now buy parcels of a property known as ‘‘bricks’’ for less than $100. BRICKX is Australia’s first ‘‘stock exchange’’ for residential property investment. Investors averse to a large upfront payment traditionally associated with property investments can now buy parcels of a property known as ‘‘bricks’’ for less than $100.

Page 15: The mining industry has reacted angrily after National Party leader Barnaby Joyce said he ‘‘understood’’ what was driving a proposal from the West Australian branch of the party that sharply increases taxes paid by iron ore giants BHP Billiton and Rio Tinto.

Explosives maker Orica has been rocked after two workers were killed in an explosion at its manufacturing plant in Chile overnight Saturday.

Page 17: National Australia Bank will spend a big chunk of the $300 million earmarked last year to revamp its wealth business on digital tools aimed at young savers.

 

 

The Australian
Page 2: The National Broadband Network is going to struggle to turn a profit even after the network is completed in 2020, with industry experts warning that the company building the network is being overly optimistic with its take-up numbers.

Page 4: Both major parties are condemning middle-income Australians to a dependency on the Aged Pension by targeting superannuation for budget repair, a report from the Institute of Public Affairs says.

Page 5: Sweetheart deals, union labour “cartels” and archaic work practices have made Australian construction costs almost double those in the US for some projects, according to a report recommending reforms to shave infrastructure costs by 10 per cent.

Page 6: A push to introduce mandatory testing of imports for lethal asbestos would cost companies billions of dollars, virtually halt all legitimate trade and impede the fight against threats such as terrorism and drugs, according to the Australian Border Force.

Page 17: Australia’s decade-long gas investment boom could have further to run, with looming spare capacity at the nation’s oldest LNG plants providing the potential for $20 billion of development decisions in the next five years.

The head of China’s top planning body for its metals industries, Li Xinchuang, has told The Australian that the country’s steel production has already peaked — in 2014.

Page 19: Sales at Masters have rocketed in the first two weeks of its $500 million hardware and home improvement fire sale and foot traffic through its 61 stores is also in double-digit growth, with directors of the chain confident it will clear all its stock by the deadline of December 11 when Masters is slated to close.

Page 21: Two of the nation’s most seasoned and respected technology investors have delivered a wakeup call to the local sector, warning that the growing number of firms nurturing start-ups must produce quality companies that generate strong revenues and employment.

 

 

The West Australian

Page 4: Mark McGowan’s authority as Labor leader is being tested by the militant maritime union, which has ignored his wish to have Alannah MacTiernan installed back into State Parliament and nominated its own candidate instead.

Page 6: The teachers’ union claims an analysis of Federal Government data has revealed that the Barnett Government cut funding to WA public schools at the same time class sizes increased.

Page 13: WA Nationals leader Brendon Grylls has attacked Malcolm Turnbull as he continues his push for a new iron ore tax, accusing the Prime Minister of “stealing billions” in GST payments from WA.

Page 52: The Canadian owners of a controversial Wiluna mine could be shipping lead through Fremantle by the middle of next year, after the environmental watchdog recommended a 60 per cent reduction in clean-up bonds required before the Paroo Station lead mine returns to production.

A company that supplied rocks for the breakwater at Chevron’s Wheatstone LNG project is suing the contractor that built the marine facilities, in a claim of about $11 million.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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