Divestments on cards in Asahi CUB buyout
Japanese brewing giant Asahi Group may be forced into small divestments in the wake of the proposed $16 billion buyout of Carlton & United Breweries because its market share will rise above 50 per cent in a sector scrutinised by the competition regulator. The Fin
Resource sector hides economic struggles
Surging gas and iron ore exports will continue to paper over cracks in a domestic economy weighed down by unemployment and weak household consumption. The West
Murray bucks APRA push
AMP chairman David Murray has dismissed a key recommendation of Graeme Samuel’s APRA capability review, saying he believes it would be ‘‘undesirable’’ for the prudential supervisor to be given responsibility for the returns of super fund members. The Fin
Sterling rescue given time
Administrators and lenders linked to a key Sterling First company are trying to rescue a deal that has promised rental relief for dozens of pensioners embroiled in the collapse of the WA property management and investment group. The West
Medicare: doctors hand back millions
Doctors wrongly billing Medicare for lucrative sleep studies and chronic disease plans, and often having no proof of the services they claimed to deliver, contributed to a record $4.5 million in rebates last month to be repaid. The Aus
Coalition ‘playing politics’ on security and drought
Labor is poised to pass a government bill to establish a new $5 billion drought future fund but is set to demand changes to another bill that would enable the government to keep foreign fighters from returning for up to two years. The Fin
Banks, miners lead the way in philanthropy
Banks, retailers and energy miners delivered among the biggest corporate donations over the past year, although just 10 ASX-listed companies provided 80 per cent of donations from business. The Aus
‘Social responsibility’ puts a lid on $2bn SME lending fund
Access to a $2 billion fund designed to kick-start a stalled market for small and medium enterprise loans will be limited, based on the reputation of the lender, social responsibility factors and contract terms. The Aus
Chance of property price rebound is low
Tight lender credit and low sales volumes mean a strong housing recovery remains unlikely, even as prices have stabilised and sales increased, according to analysis by global investment bank Morgan Stanley. The Fin
Sheffield finds buyer
Shares in Sheffield Resources surged 15 per cent yesterday after the aspiring mineral sands miner found a buyer for the additional zircon production from its Thunderbird project after a reworking of its mine plan. The West
The Australian Financial Review
Page 1: AMP chairman David Murray has dismissed a key recommendation of Graeme Samuel’s APRA capability review, saying he believes it would be ‘‘undesirable’’ for the prudential supervisor to be given responsibility for the returns of super fund members.
Page 3: The federal opposition has slammed a loophole created by the Coalition government that allows financial advisers to sell listed fund investments to clients and be paid lucrative commissions in return.
Page 4: Labor is poised to pass a government bill to establish a new $5 billion drought future fund but is set to demand changes to another bill that would enable the government to keep foreign fighters from returning for up to two years.
Page 5: Pressure is building within the government over the inadequacy of the Newstart payment after a majority of the Nationals backed an increase, while Liberal senator Dean Smith also broke ranks.
Page 6: Tight lender credit and low sales volumes mean a strong housing recovery remains unlikely, even as prices have stabilised and sales increased, according to analysis by global investment bank Morgan Stanley.
Page 10: Iran says it has captured 17 spies working for the US Central Intelligence Agency and some have been sentenced to death, Iranian media reported.
Page 13: Japanese brewing giant Asahi Group may be forced into small divestments in the wake of the proposed $16 billion buyout of Carlton & United Breweries because its market share will rise above 50 per cent in a sector scrutinised by the competition regulator.
The head of one of Australia’s biggest health insurers has called on the government to abolish Medicare and make private health insurance compulsory, with the government paying the premiums of those unable to meet the costs themselves.
Page 15: Australia’s wine export volumes to China slipped by 16 per cent in 2018-19 as local producers, including Penfolds owner Treasury Wine Estates, steered clear of selling low-priced commercial wines into the most important export market.
Page 19: A ride share company that pays its drivers more and pitches itself as the ethical alternative to Uber is gaining traction in the Australian market only a year after its launch: it now claims to have 13,000 more Australian drivers than Uber.
The Australian
Page 1: An Australian offshore border patrol has intercepted a group of asylum-seekers trying to reach the mainland by boat as Labor yesterday vowed to resist moves to repeal contentious laws that have handed doctors greater control over refugee medical transfers.
Page 3: Doctors wrongly billing Medicare for lucrative sleep studies and chronic disease plans, and often having no proof of the services they claimed to deliver, contributed to a record $4.5 million in rebates last month to be repaid.
Page 4: Scott Morrison has pledged an extra $250 million towards electricity projects in Papua New Guinea during talks with the country’s leader, James Marape.
Page 7: A dramatic fall in the amount of cash being carried into Australia from China has emerged amid warnings that interest in the property market is beginning to wane.
Page 17: Access to a $2 billion fund designed to kick-start a stalled market for small and medium enterprise loans will be limited, based on the reputation of the lender, social responsibility factors and contract terms.
Page 18: South32’s imminent sale of its poorly-performing South African Energy Coal business has prompted analysts at Morgans to upgrade the stock from a “hold” rating to “add”.
Page 19: Banks, retailers and energy miners delivered among the biggest corporate donations over the past year, although just 10 ASX-listed companies provided 80 per cent of donations from business.
Woodside Petroleum has called in the West Australian police to investigate “highly unusual and suspicious” asbestos discovered at its Karratha gas plant, the state’s biggest production facility.
Page 20: Iluka Resources is mulling a major downstream manufacturing push into higher-value mineral sands products, as well as stepping up efforts to enter the rare earths market, floating plans for a Victorian project that will produce both refined zircon and processed rare earth products.
The West Australian
Page 4: Thrillseekers will be able to walk around the roof of Optus Stadium and zip-line 300m from Matagarup Bridge on to the Burswood Peninsula by the end of summer as planning for Perth’s newest tourist attractions enters the final stages.
Page 5: The no jab, no play policy will “save lives”, State Child Protection Minister Simone McGurk promised yesterday.
Page 7: Taxpayers are unlikely to recover about $150,000 paid to celebrity chef George Calombaris after the McGowan Government dumped the television star from a national tourism campaign following his admission that he underpaid staff in his restaurants by almost $8 million.
Fashion retailer H&M will open its fifth store in WA at Karrinyup Shopping Centre later this year.
Page 9: A Kalgoorlie medical clinic is charging new patients a $50 fee to join the surgery amid a crippling GP shortage in the mining city, with walk-in patients turned away and waitlists ballooning out to more than two weeks.
Surging gas and iron ore exports will continue to paper over cracks in a domestic economy weighed down by unemployment and weak household consumption.
Page 11: Some WA Liberals are calling for the removal of any reference to race in Australia’s constitution at the same time Indigenous Affairs Minister Ken Wyatt has vowed to hand Aboriginals constitutional recognition.
Business: Administrators and lenders linked to a key Sterling First company are trying to rescue a deal that has promised rental relief for dozens of pensioners embroiled in the collapse of the WA property management and investment group.
The head of Australia’s biggest listed investment company has warned the upcoming earnings reporting season could trigger “savage” sell-offs among the new-generation of market darlings.
Saracen Mineral Holdings boss Raleigh Finlayson insists the mid-tier gold miner is not resting on its laurels despite enjoying a record-high Australian dollar price for the precious metal.
Shares in Sheffield Resources surged 15 per cent yesterday after the aspiring mineral sands miner found a buyer for the additional zircon production from its Thunderbird project after a reworking of its mine plan.
