08/02/2017 - 06:32

Morning Headlines

08/02/2017 - 06:32

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Morning Headlines

RBA gets bullish on economy

The Reserve Bank of Australia has delivered a markedly more positive outlook for the global and domestic economies, saying this is likely to put upward pressure on inflation and raising the prospect of the first official rate hike since 2010 later this year. The Fin

 

Bankwest pulls property investor loans

Bankwest, a subsidiary of Commonwealth Bank of Australia, has slammed the brakes on property investment lending for new customers. The Fin

 

Masters sale to hurt hardware demand in 2017

Hardware retailers have been warned that sales in the $45 billion home improvement sector may remain subdued for months after the demise of Woolworths’ big box Masters chain. The Fin

 

ABCC win after Hinch flip

In a substantial defeat for the CFMEU, the Turnbull government will seek today to amend and toughen the Australian Building and Construction Commission law passed late last year by restoring the critical provisions it was forced to remove because of demands by senator Derryn Hinch. The Aus

 

Lifetime travel perks given the flick

Malcolm Turnbull says the Life Gold Pass is a lucrative perk that “can’t be justified” as he stared down anger from Queensland Coalition MPs Warren Entsch and Ian Macdonald after making the bombshell announcement to immediately axe free travel for retired MPs. The Aus

 

Invest in carbon storage, says BHP

BHP Billiton has called for climate policy that does not favour renewable energy over carbon capture and storage, calling on governments to promote and invest in CCS as a way to help reduce emissions, meet climate targets and support global jobs. The Aus

 

How $100m footy stadium deal fell through

The West Australian Football Commission rejected a compensation package worth more than $100 million over 10 years to surrender its lease on Subiaco Oval in last-ditch talks with the State Government last week. The West

 

Builder audited before collapse

WA’s Building Commission is under fire after it emerged it audited failed group Builton just weeks before it went under, yet somehow gave it a clean bill of health. The West

 

Bad advice blamed for ports boss’ early exit

Transport Minister Bill Marmion has conceded the early removal of Mid West Ports chairman Ian King was “badly handled” and blamed bad advice indicating the utility veteran had wanted to retire early. The West

 

The Australian Financial Review

Page 1: The Reserve Bank of Australia has delivered a markedly more positive outlook for the global and domestic economies, saying this is likely to put upward pressure on inflation and raising the prospect of the first official rate hike since 2010 later this year.

Cory Bernardi has dismissed demands from furious former colleagues that he quit Parliament and give his Senate seat back to the Liberal Party, saying it is ‘‘the political class defending their self interest’’.

Page 3: Bankwest, a subsidiary of Commonwealth Bank of Australia, has slammed the brakes on property investment lending for new customers.

Page 4: The federal government has swung the axe on one of the most generous entitlements for former politicians and scrapped plans for the compulsory acquisition of land in Queensland as it moves to reconnect with disgruntled voters.

Page 6:   At the start of the year, economists seem more divided than ever over Australia’s growth outlook.

Page 10: A federal appeals court will hear arguments on Wednesday morning (AEDT) on whether to restore President Donald Trump’s controversial immigration order, which a lower court judge has temporarily put on hold.

Page 12: PwC was the 22nd biggest political donor in 2015-16 and the most generous political donor of the big four professional services firms, giving more than $232,000 to the two main political parties.

Page 13: Macquarie Group’s chief executive Nicholas Moore said the financial services giant would book a ‘‘material benefit’’ from potential Donald Trumpinspired US tax cuts, while a boost in US infrastructure spending would take some years to add to earnings.

Australian-listed investment manager Challenger has inadvertently become entangled in the closely scrutinised sale of a New York hedge fund firm owned by a Donald Trump associate.

Page 15: Hardware retailers have been warned that sales in the $45 billion home improvement sector may remain subdued for months after the demise of Woolworths’ big box Masters chain.

 

The Australian

Page 1: In a substantial defeat for the CFMEU, the Turnbull government will seek today to amend and toughen the Australian Building and Construction Commission law passed late last year by restoring the critical provisions it was forced to remove because of demands by senator Derryn Hinch.

Families will receive an extra two weeks’ paid parental leave under a $700 million compromise deal to be introduced to parliament today, as part of an omnibus savings bill aimed at passing the government’s childcare reforms and cuts to family tax benefits.

Page 2: The Reserve Bank has delivered its most upbeat appraisal of the Australian economy since shortly after the global financial crisis, saying it can look forward to years of healthy growth with inflation returning to normal and a revival in business investment.

The White House erroneously branded a double murder in Queensland as terrorism yesterday to illustrate President Donald Trump’s claim there were dozens of Islamic State attacks in Western countries a “very, very dishonest press doesn’t want to report”.

Page 3: The chief executive of Australia Post was the nation’s highest paid public servant last year, taking home more than $5.6 million.

Page 4: Malcolm Turnbull says the Life Gold Pass is a lucrative perk that “can’t be justified” as he stared down anger from Queensland Coalition MPs Warren Entsch and Ian Macdonald after making the bombshell announcement to immediately axe free travel for retired MPs.

Page 7: Labor has ruled out a blanket preference-swap agreement with Pauline Hanson’s One Nation for the West Australian election, opening the way for the Liberal Party to pursue a deal with the resurgent party.

Page 19: Transurban has played down the prospect of a short-term boon for infrastructure investment in the US spurred by the Trump presidency but talked up growth opportunities at home as it raised its full-year distribution guidance after a strong profit result.

Page 21: Proposals to help fund infrastructure projects by tapping jumps in land values are not a way of “conjuring new money out of thin air”, city property developers have cautioned, fuelling debate about how to deliver multi-billion-dollar road and rail needs.

Page 22: BHP Billiton has called for climate policy that does not favour renewable energy over carbon capture and storage, calling on governments to promote and invest in CCS as a way to help reduce emissions, meet climate targets and support global jobs.

 

The West Australian

Page 1: The West Australian Football Commission rejected a compensation package worth more than $100 million over 10 years to surrender its lease on Subiaco Oval in last-ditch talks with the State Government last week.

Page 6: Malcolm Turnbull’s leadership has been further weakened and the task of governing made harder after Cory Bernardi defected from the Liberal Party yesterday, warning the major parties were out of touch with voters craving stability.

Page 11: City of Perth Lord Mayor Lisa Scaffidi said yesterday she felt “sad… ill... and remorseful” over the expenses scandal that had engulfed her and WA’s flagship council for years.

Page 12: WA’s Building Commission is under fire after it emerged it audited failed group Builton just weeks before it went under, yet somehow gave it a clean bill of health.

Page 13: WA’s peak parenting help provider has axed some metropolitan services because of changes to its State Government funding.

Page 14: Northern suburbs voters are guaranteed another marina after the State election, with Premier Colin Barnett yesterday announcing a re-elected Liberal Government would build the Ocean Reef marina project.

Page 16: One of the most prominent authorities on WA government accountability during the past 30 years says State politicians have learnt nothing from the dark days of WA Inc about the dangers of secrecy.

Page 20: Uncertainty looms over Bankwest branch closures and job cuts in coming months as protections that force it to maintain a big presence in WA expire this year.

Page 73: Mineral Resources and Neometals have joined the ranks of WA’s lithium exporters, waving off the first load of Mt Marion concentrate from Kwinana on Monday night.

A Perth-based business solutions company has developed technology which is helping the South Australian Government to plan and shape some of the State’s biggest tourism events.

Asian-focused social media play MigMe has requested a weeklong suspension from trade as it struggles to wrap up a $6 million convertible note issue crucial to the company’s survival.

Page 74: Transport Minister Bill Marmion has conceded the early removal of Mid West Ports chairman Ian King was “badly handled” and blamed bad advice indicating the utility veteran had wanted to retire early.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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