Surprise trade surplus to boost third-quarter GDP
Australia’s first current account surplus in 44 years is expected to hold strong for another quarter after the monthly trade surplus rebounded to $7.2 billion, well ahead of economists’ consensus of $5.1 billion and mainly due to an increase in the value of gas and ore exports. The Fin
Terrorist atrocity sounds alarm bells
WA companies operating in West Africa are reviewing their security procedures after a deadly terrorist attack in Burkina Faso that killed at least 37 people and wounded 60 others. The West
Cut red tape to boost economy, say nation’s finance chiefs
The nation’s top finance chiefs say cutting red tape would do more to help the economy than further interest rate cuts or budget stimulus, with Wesfarmers’ chief financial officer, Anthony Gianotti, urging the government to retain some fiscal dry powder. The Fin
Coles woos Shanghai with prime cuts
Coles will open an office in China next year as it becomes the latest Australian exporter to attempt to sell premium cuts of beef to the country’s increasingly discerning middle class. The Fin
Banks limp through worst year since 2012
The major banks’ cash earnings have slumped to their lowest level in seven years, return on equity is the lowest in 20 years, and net interest margins – the core driver of revenue – have fallen below 2 per cent for the first time. The Fin
Zip Co soars on Amazon Australia payment deal
Shares in Zip Co soared 17 per cent on Thursday after the company struck a deal with Amazon to offer its buy now, pay later service on the US giant’s local retail website. The Fin
Cann pots deal with chemists
Marijuana company Cann Group has signed a distribution deal to allow approved patients access to the company’s drugs at pharmacies around Australia. The West
Flight Centre issues profit warning
Flight Centre has issued a profit warning, saying a lacklustre leisure travel market coupled with higher wage costs and lower interest rate earnings mean its underlying half-year profit will be well down on last year’s result. The Aus
Palmer tactics paid off
Clive Palmer’s multimillion-dollar election campaign was “money well spent” in crowding out Labor’s message, experts say. The West
Pupils heed call to arms
Defence industry careers are being promoted in Perth schools as part of the Federal Government’s bid to attract the necessary skills to the navy. The West
The Australian Financial Review
PageW 1: The nation’s top finance chiefs say cutting red tape would do more to help the economy than further interest rate cuts or budget stimulus, with Wesfarmers’ chief financial officer, Anthony Gianotti, urging the government to retain some fiscal dry powder.
Page W3: Mining giant BHP is doing an ‘‘amazing’’ job on tax transparency in a field of other big companies that could be doing better, Tax Office executive Jeremy Hirschhorn said.
Page 1: National Australia Bank’s acting chief executive, Philip Chronican, has called for financial regulators and the federal government to jointly tackle a dramatic collapse in confidence as the post-Hayne plunge in lending spreads to small business.
Page 4: Labor must cull its policies, embrace an economic growth agenda, rebuild bridges with business and reconnect with blue-collar voters if it is to have a chance at the next election, its review into the May 18 loss recommends.
Page 6: Australia’s first current account surplus in 44 years is expected to hold strong for another quarter after the monthly trade surplus rebounded to $7.2 billion, well ahead of economists’ consensus of $5.1 billion and mainly due to an increase in the value of gas and ore exports.
Page 8: Private sector pay rises are going backwards alongside a dramatic surge in non-union enterprise agreements, new data from the Attorney-General’s Department shows.
Page 10: Some 12,000 BMW vehicles are being urgently recalled after transport safety authorities identified another Takata airbag which poses a critical risk of death or serious injury, the competition watchdog says.
Page 12: NBN’s hybrid technology is coming far short of delivering advertised speeds.
Page 15: Coles will open an office in China next year as it becomes the latest Australian exporter to attempt to sell premium cuts of beef to the country’s increasingly discerning middle class.
Page 19: The major banks’ cash earnings have slumped to their lowest level in seven years, return on equity is the lowest in 20 years, and net interest margins – the core driver of revenue – have fallen below 2 per cent for the first time.
Page 21: Foxtel and NBCUniversal signed an expanded content deal across broadcast and streaming, giving the News Corp-controlled pay television platform access to the US studio’s back catalogue of movies and TV series for its planned streaming service.
Page 23: Shares in Zip Co soared 17 per cent on Thursday after the company struck a deal with Amazon to offer its buy now, pay later service on the US giant’s local retail website.
The Australian
Page 1: Anthony Albanese has been granted a mandate to reposition the Labor Party by junking unpopular Bill Shorten-era policies, dropping its anti-coal rhetoric and limiting big-spending promises to reconnect with voters in the outer suburbs and regions.
Page 4: Employers have rejected a government proposal to ban directors of underpaying companies from sitting on boards and questioned the legality of allowing the Fair Work Commission to process small underpayment claims by workers.
Page 9: The acting US ambassador to Ukraine says it was his “clear understanding” that military aid was withheld from Ukraine in exchange for Kiev investigating Democrats for Donald Trump.
Page 19: Flight Centre has issued a profit warning, saying a lacklustre leisure travel market coupled with higher wage costs and lower interest rate earnings mean its underlying half-year profit will be well down on last year’s result.
Page 21: The prudential regulator is pushing ahead with its ambitious plan to overhaul its superannuation data collection system, launching a multi-year project in a bid to drive better industry practices and improve member outcomes.
The West Australian
Page 5: Police Commissioner Chris Dawson wants the McGowan Government to help put more cops on the frontline, as analysis of the CBD and Northbridge crime rates reveals offences are at their highest level this decade.
Page 6: Anthony Albanese is being encouraged to adopt a “Bob Hawke” leadership style in the wake of the release of Labor’s election review that found the party alienated hard-working Australians and propagated a divisive rhetoric against the “big end of town”.
Page 7: Clive Palmer’s multimillion-dollar election campaign was “money well spent” in crowding out Labor’s message, experts say.
Page 22: A WA-based craft brewery has had to change the labels on two of its beers after they were found to “appeal to minors”.
Page 26: Defence industry careers are being promoted in Perth schools as part of the Federal Government’s bid to attract the necessary skills to the navy.
Business: WA companies operating in West Africa are reviewing their security procedures after a deadly terrorist attack in Burkina Faso that killed at least 37 people and wounded 60 others.
The Pilbara Ports Authority is looking to diversify its operations beyond iron ore and gas, with live cattle exports in its sights, after Port Hedland won approval for a wider range of industrial cargoes to enter its harbour.
The head of VegetablesWA John Shannon has warned a court ruling on the backpacker tax will create two classes of workers and has called for it to be abolished.
Marijuana company Cann Group has signed a distribution deal to allow approved patients access to the company’s drugs at pharmacies around Australia.
