Building shutdown
Hundreds of tradies across Perth are in limbo after one of the city's oldest building companies suspended works on seven projects and revealed it was not able to pay subcontractors. The West
Bonds sell-off hits equities bull run
Australian shares have had their worst day in seven months after the global bond market’s sell-off hit the ASX, leading some investors to speculate that the bull run in global equities has been shattered. The Fin
Telstra claims edge over rivals as 5G race nears
Telstra is confident it has the jump on its competition in the 5G race, with the telco’s chief operations officer Robyn Denholm saying the strength of its current 4G network gives it an advantage over the likes of Optus and Vodafone. The Aus
Downer shares sink on $77m write-down
Downer sinks on write-down Downer EDI has warned of ‘‘delays’’ in getting new mining contracts after announcing it will take a $77 million pretax write-down on its mining operations. The Fin
Bunnings UK hammers Wesfarmers
Wesfarmers shareholders say the conglomerate’s growth prospects are under a cloud after new chief executive Rob Scott slashed the value of Bunnings UK and Ireland by $1 billion and launched a review that could see Bunnings walk away from its first major overseas expansion. The Fin
Union living wage an ‘$8bn hit on bosses’
The ACTU proposal for significant minimum-wage rises would cost up to $8 billion a year, causing job losses and potential business closures, says a new analysis. The Aus
Councils accused of hoarding $1b in funds
Perth councils have been accused of sitting on more than $1 billion that should have been spent on parks, libraries and street lights. The West
The Australian Financial Review
Page 1: Australian shares have had their worst day in seven months after the global bond market’s sell-off hit the ASX, leading some investors to speculate that the bull run in global equities has been shattered.
Page 3: Westpac and its wealth division, BT, used bonuses and highly sophisticated sales techniques to convince customers to roll over hundreds of millions of dollars of superannuation into Westpac accounts, a court has heard.
Page 4: Opposition Leader Bill Shorten’s proposed federal anti-corruption body could fall foul of the constitution if it interferes with the independence of the judiciary, according to constitutional law experts.
Page 6: The Tax Office is investigating 27 multinationals over $78 billion in potentially dodgy revaluations used to get around anti-tax avoidance rules.
Page 9: The Turnbull government and the Australian Federal Police have extended cyber safety training to children as young as four, as part of efforts to fight child online exploitation.
Page 13: Wesfarmers shareholders say the conglomerate’s growth prospects are under a cloud after new chief executive Rob Scott slashed the value of Bunnings UK and Ireland by $1 billion and launched a review that could see Bunnings walk away from its first major overseas expansion.
Page 16: Downer sinks on write-down Downer EDI has warned of ‘‘delays’’ in getting new mining contracts after announcing it will take a $77 million pretax write-down on its mining operations.
BP Australia head Andy Holmes says a joint venture the oil major has formed in China will use expertise from the group’s Australian fuels retailing business to provide a new high-quality offering to motorists in three provinces in what will be a major expansion of the brand.
Page 21: Australia’s first city-based professional eSports league has taken another step towards reality with the announcement of a Hoyts cinemas partnership to create arenas in cinemas around Australia.
The Australian
Page 2: The ACTU proposal for significant minimum-wage rises would cost up to $8 billion a year, causing job losses and potential business closures, says a new analysis.
Police and community leaders in the Kimberley are joining forces to combat a wave of youth crime that has seen a 140 per cent rise in burglaries and major damage to schools, community stores and civic buildings.
Page 6: Current strategies for closing the gap on indigenous disadvantage are likely to further entrench remote poverty because they focus too much on meeting national targets, new research suggests.
An expected surge in electric vehicle use would require billions of dollars to be spent upgrading the electricity network, unless new technology that automatically staggered charging times could be perfected.
Page 19: Japanese heavyweight Mitsui has won the three-way battle for control of oil and gas play AWE, after rival suitor Mineral Resources opted not to match Mitsui’s $602 million offer.
Page 20: Telstra is confident it has the jump on its competition in the 5G race, with the telco’s chief operations officer Robyn Denholm saying the strength of its current 4G network gives it an advantage over the likes of Optus and Vodafone.
The West Australian
Page 1: Hundreds of tradies across Perth are in limbo after one of the city's oldest building companies suspended works on seven projects and revealed it was not able to pay subcontractors.
The Swan River pedestrian bridge linking East Perth and Burswood will include a pulley system so patrons with disabilities can be hoisted to a 70mhigh viewing platform.
Page 3: Perth councils have been accused of sitting on more than $1 billion that should have been spent on parks, libraries and street lights.
Page 10: Finance Minister Mathias Cormann has flagged that the Federal Government will not back down on its $65 billion corporate tax plan, even if the Senate crossbench again votes to block the package.
Page 12: WA’s isolation, warm weather and “Wild West” attitude could be linked to high rates of drunken attendances at hospital emergency departments, according to a Perth doctor.
Business: A plan to revive the Paroo Station lead mine near Wiluna by building a new refinery onsite will create about 250 jobs and eliminate environmental concerns that have hung over the project for more than a decade since it was involved in a lead contamination scandal that rocked Esperance in 2007, according to its owner.
Gold Road Resources has consolidated its sizeable land holding around the Gruyere gold project east of Laverton by acquiring 50 per cent of the South Yamarna project it doesn’t already own.
