LNG breaks record with $50.5b of exports
Liquefied natural gas has become a $50 billion-plus commodity export powerhouse for Australia after a 21.2 per cent upswing in shipments in 2018-19 and is finally set to usurp Qatar as the biggest exporter this year. The Fin
Building sector ‘could collapse’
The building certifier behind Perth’s $1.6 billion Optus Stadium has warned Scott Morrison that his firm will be forced out of business and the construction industry will “collapse” without settlement of a national crisis over compulsory indemnity insurance. The Aus
Dorado upgrades gas find as well disappoints
Santos’ junior partner in its promising Dorado exploration venture in Western Australia has advised of a major upgrade in the volume of petroleum thought to be held in the field despite disappointing results from exploration at a nearby prospect. The Fin
NZ shreds AMP Life sale
The Reserve Bank of New Zealand has hit back at claims the central bank has derailed AMP’s controversial $3.3 billion sale of its life insurance arm and wiped out a billion dollars in share market value, saying the company is to blame for the failed deal. The Fin
Asian plan hatched for WA chicken chains
A leading Asian investment company has bought Oporto and WA staples Red Rooster and Chicken Treat for about $500 million. The West
WA’s gas scheme under fire
The peak oil and gas body claims West Australians are missing out on jobs and are copping part of a $600 million net loss to the Australian economy because of the McGowan Government’s domestic gas reservation policy. The West
Electric vehicles to drive mining’s future
Australian miners looking to build underground operations should start thinking about joining the electric vehicle revolution, according to global accounting consulting giant EY, with a new report arguing the emerging technology will save money and improve the health of workers. The Aus
Indigenous treaty issue divides states
The states are split along partisan lines over the merits of formulating treaties with Indigenous Australians, with Labor administrations in Victoria, Western Australia and the Northern Territory making the most progress towards agreements. The Fin
Confidence surges on tax cuts, property prices
Business conditions have recovered strongly in response to the Morrison government’s $158 billion tax cut package and stability in the housing market, a poll of 251 chief executives finds. The Fin
New wave of wharfie strikes to hit DP World
Wharfies will strike at DP World for a second week in protest over automation and outsourcing threats, putting pressure on the stevedore’s efforts to contain delays to freight. The Fin
The Australian Financial Review
Page 1: The Reserve Bank of New Zealand has hit back at claims the central bank has derailed AMP’s controversial $3.3 billion sale of its life insurance arm and wiped out a billion dollars in share market value, saying the company is to blame for the failed deal.
The federal government is prepared, where possible, to fast-track infrastructure projects but says the states have the greatest capacity to pick up the pace.
Page 3: The states are split along partisan lines over the merits of formulating treaties with Indigenous Australians, with Labor administrations in Victoria, Western Australia and the Northern Territory making the most progress towards agreements.
Page 4: Business conditions have recovered strongly in response to the Morrison government’s $158 billion tax cut package and stability in the housing market, a poll of 251 chief executives finds.
Page 5: Two out of five chief executives plan to keep pay rises flat or to rises of 2 per cent, below the already-sluggish rate of wage growth, according to a survey of 250 chief executives.
Page 7: Wharfies will strike at DP World for a second week in protest over automation and outsourcing threats, putting pressure on the stevedore’s efforts to contain delays to freight.
Page 13: Liquefied natural gas has become a $50 billion-plus commodity export powerhouse for Australia after a 21.2 per cent upswing in shipments in 2018-19 and is finally set to usurp Qatar as the biggest exporter this year.
Australian retailers are retaliating against Amazon’s Prime Day promotion by slashing prices on well-known brands such as Finish, Dyson, Sony, Adidas and Nike.
Page 15: Elders is digging in for a fight over market share as it enters farming’s wholesale battlefield with the $187 million acquisition of Australian Independent Rural Retailers (AIRR).
Page 17: Junior explorer Karoon Energy has partially lifted the lid on its revived expansion ambitions in Brazil, confirming it has made ‘‘the high bid’’ in an auction for the Bauna oil field that reports say is priced at over $US750million ($1.07 billion).
Australian-based uranium players say US President Donald Trump ran the risk of being blamed for job losses at nuclear power plants on American soil if he had imposed sanctions on imports.
Page 18: Santos’ junior partner in its promising Dorado exploration venture in Western Australia has advised of a major upgrade in the volume of petroleum thought to be held in the field despite disappointing results from exploration at a nearby prospect.
The Australian
Page 1: Stubborn employees who refuse to move into more productive companies are a major cause of the nation’s record-low wages growth, new Treasury research will reveal today.
The building certifier behind Perth’s $1.6 billion Optus Stadium has warned Scott Morrison that his firm will be forced out of business and the construction industry will “collapse” without settlement of a national crisis over compulsory indemnity insurance.
Page 2: The Coalition has accused the Australian Council of Trade Unions of “hypocrisy” for advertising two new jobs as fixed-term contract positions while “decrying” the use of contracts.
Page 4: Seniors groups have joined economists, business groups and social services advocates in calling for an increase to the Newstart payment, saying that an increasing number of older Australians are struggling to make ends meet on the unemployment benefit.
Page 17: Record low interest rates are not only hurting savers — fund managers have also been caught out.
Australian miners looking to build underground operations should start thinking about joining the electric vehicle revolution, according to global accounting consulting giant EY, with a new report arguing the emerging technology will save money and improve the health of workers.
Page 18: Stronger signs are emerging that BHP is poised to exit the thermal coal market, with sources suggesting that the resources giant has hired Macquarie Capital to undertake a scoping study to determine whether to divest investments in the sector estimated to be worth more than $4 billion.
Page 21: The controversial “buy now, pay later” fintech Afterpay Touch will step up its pursuit of new technologies to help bolster its future growth by taking a 45 per cent stake in a private tech company backed by a host of high-net worth investors, including billionaire Alex Waislitz.
The West Australian
Page 3: A healthy lifestyle cuts the chance of getting dementia up to a third, a major study has found.
Page 7: A two-year-old boy from Perth’s southern suburbs is the latest victim of WA’s killer flu season, which has claimed more than 10 times the number of lives compared with the same stage last year.
Page 9: A leading Asian investment company has bought Oporto and WA staples Red Rooster and Chicken Treat for about $500 million.
Page 10: Opposition Leader Anthony Albanese will visit WA at least every six weeks in an effort to ensure voters in the west do not feel forgotten by Canberra.
The peak oil and gas body claims West Australians are missing out on jobs and are copping part of a $600 million net loss to the Australian economy because of the McGowan Government’s domestic gas reservation policy.
Business: The beefed-up financial complaints ombudsman has had more than 35,000 complaints in its first six months of operation with credit cards and home loans sparking the most disputes.
An Indian-focused investment fund has warned that Australian investors could miss out on India’s economic boom because of risk-averse fund managers.
New hydraulic fracturing regulations for WA will be fully implemented by the end of next year, according to a McGowan Government plan.
