09/05/2017 - 06:35

Morning Headlines

09/05/2017 - 06:35

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Gas price war erupts with discount offer

WA’s biggest gas retailer is offering some people up to a quarter off their bills in a bid to win them back as a price war with Wesfarmers-owned Kleenheat intensifies. The West

Ratings agency warns Coalition

A key ratings agency behind Australia’s AAA credit rating is wary of today’s federal budget, which is expected to forecast a return to surplus by the end of the decade while at the same time spending big to win back disgruntled voters. The Fin

China iron ore slumps to 2017 low

China’s iron ore imports have slumped 13 per cent to their lowest level in six months, as stockpiles at mainland ports remain at record levels. The Fin

Bid to fully fund NDIS sparks search for $6bn

Scott Morrison will tonight announce full funding of the National Disability Insurance Scheme beyond 2019, in a move that has forced the government to find an extra $6 billion in annual savings to meet the implementation costs. The Aus

Atlassian founder slams visa clamp

Atlassian co-founder Scott Farquhar has warned that Australia must become more appealing to the best US-based technology talent and increase immigration in order to help the emerging band of budding tech giants realise their potential. The Fin

Fairfax coy as $2.2bn suitor TPG pledges to invest in journalism

US private equity investor TPG has sweetened its partial $2.2 billion buyout battle for Fairfax Media with a promise to invest in journalism, but hopes of a deal were fading last night. The Aus

Alfresco deck at new Perth Airport wing an Aussie first

Qantas’ new international wing at Perth Airport for its nonstop service to London will feature the first outdoor patio at an airport in Australia, with a barbecue grill and a Neil Perry designed barbecue menu. The West

Minderoo rejects Rinehart cattle plan

Andrew Forrest’s Minderoo Group has distanced itself from an ambitious plan by billionaire Gina Rinehart to export about 800,000 live cattle a year to China, describing it as short-sighted. The West

 

 

The Australian Financial Review

Page 1: A key ratings agency behind Australia’s AAA credit rating is wary of today’s federal budget, which is expected to forecast a return to surplus by the end of the decade while at the same time spending big to win back disgruntled voters.

Page 3: Business conditions have surged to a nine-year high and job advertisements have risen. However, separate figures show building approvals have fallen to a two-year low, a tentative sign that a primary driver of economic growth since the end of the resources boom will falter 12 to 18 months from now.

Page 4: The federal government’s decision to conduct a comprehensive Productivity Commission inquiry into the state of competition in the banking sector has failed to quell demands by Labor and the minor parties for a royal commission or something similar.

Page 5: The federal government has accused Catholic schools of peddling falsehoods by claiming the sector had stated previously it would be satisfied with a lower funding growth rate than the one it has been granted.

Page 6: A television ad spruiking the employment of Australians first that featured mostly white people, has sparked tensions in Labor ranks, prompting Bill Shorten to concede the ‘‘lack of diversity’’ in the faces in the ad was a ‘‘fair cop’’ and wouldn’t happen again.

Page 10: China’s iron ore imports have slumped 13 per cent to their lowest level in six months, as stockpiles at mainland ports remain at record levels.

Page 11: Westpac Banking Corp chief executive Brian Hartzer believes intensified scrutiny of property market risks will slow housing credit growth over coming years, but this could be partially offset by a pick-up in business lending off the back of the federal budget’s infrastructure focus.

BHP Billiton should divest its best US shale assets if offered $US9 billion ($12.2 billion) for them, according to Deutsche Bank analyst Paul Young.

Page 19: Atlassian co-founder Scott Farquhar has warned that Australia must become more appealing to the best US-based technology talent and increase immigration in order to help the emerging band of budding tech giants realise their potential.

 

 

The Australian

Page 1: Scott Morrison will tonight announce full funding of the National Disability Insurance Scheme beyond 2019, in a move that has forced the government to find an extra $6 billion in annual savings to meet the implementation costs.

Funding to 51 private and Catholic schools will be cut or frozen under Malcolm Turnbull’s $18.6 billion education package, which came under internal attack last night when a Coalition frontbencher broke ranks to challenge the fairness of the measures.

Page 4: Defence will increase its full-time civilian workforce by more than 1000 employees over the forward estimates in a bid to better deliver the capability upgrade foreshadowed in the 2016 Defence white paper.

Page 5: Small-business owners will win from policies that keep tax burdens lower for longer, as the Turnbull government uses today’s budget to satisfy a key constituency and build on its company tax cuts.

A plan to streamline Centrelink payments will be unveiled in today’s budget as the government moves to dramatically reduce the number and complexity of benefits — a key recommendation of the McClure review into the welfare system.

Page 19: US private equity investor TPG has sweetened its partial $2.2 billion buyout battle for Fairfax Media with a promise to invest in journalism, but hopes of a deal were fading last night.

Page 21: A new development for Origin Energy has made the price of power from windfarms more competitive with black coal, and put the country’s biggest energy retailer within reach of meeting its renewable energy target.

 

 

The West Australian

Page 3: WA’s biggest gas retailer is offering some people up to a quarter off their bills in a bid to win them back as a price war with Wesfarmers-owned Kleenheat intensifies.

Page 4: Creditors owed about $60 million have given failed builder-developer Diploma Group a stay of potential execution.

Page 6: Treasurer Scott Morrison will deliver a Federal Budget today promising fairness to all and protection of essential services — paid for by tax and welfare cheats, foreigners and future generations.

Page 13: American researchers have found that breastfed babies not only get good gut bacteria from their mother’s milk but also her skin.

Page 17: Qantas’ new international wing at Perth Airport for its nonstop service to London will feature the first outdoor patio at an airport in Australia, with a barbecue grill and a Neil Perry designed barbecue menu.

Business: Investors cheered positive news from Blackham Resources yesterday after the beaten-down gold miner revealed a staged plan to ramp-up operations at its Matilda/Wiluna project to 200,000 ounces a year.

Macmahon Holdings has signed a “potentially transformational” deal with Indonesia’s PT Amman Mineral Nusa Tenggara that will boost its earnings and make the Indonesian company its biggest shareholder.

Andrew Forrest’s Minderoo Group has distanced itself from an ambitious plan by billionaire Gina Rinehart to export about 800,000 live cattle a year to China, describing it as short-sighted.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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