Trump to slap China with $US50b in trade sanctions
US President Donald Trump is poised to risk an international trade war by slapping aggressive new economic penalties on China in response to Beijing’s repeated theft of intellectual property from American business. The Fin
Jobs market in rude health but pay steady
Prospects of a near-term rise in wages growth remain weak as a surge in available workers swamps the labour market, keeping the jobless rate from falling despite a record 17th straight month of job gains. The Fin
Barnett ‘lost control’ of hospital
The former Barnett government lost control of the beleaguered $1.2 billion Perth Children’s Hospital project after senior ministers failed to question flawed advice from state bureaucrats, a bipartisan parliamentary committee has found. The Aus
EU pitches WA trade
Perth should become Europe’s gateway to Australia, targeting tourism and business links as Britain prepares to quit the European Union, EU Ambassador Michael Pulch says. The West
Swiss probe Rio Tinto over alleged $13m bribe
Rio Tinto was seeking clarification from Swiss authorities yesterday after officials in the nation said they were investigating whether the miner paid bribes linked to Mongolia’s Oyu Tolgoi copper mine. The Fin
Jobs cool RBA’s outlook on rates
Stubbornly high slack in the labour market is reinforcing expectations that official interest rates will remain at a record low this year, adding to downward pressure on the dollar. The Aus
Gas store expands to meet demand
WA’s biggest gas storage facility is expanding less than a year into operation as it fills with surplus gas bought by Citic Pacific. The West
Hanson’s vote worth $60m
One Nation leader Pauline Hanson has won a $60 million national apprenticeship pilot scheme that will prioritise regional Australia in return for supporting the government’s corporate tax cuts as Malcolm Turnbull edges closer to winning a major Senate victory. The Aus
Business fights changes to ‘abused’ payroll tax
A planned crackdown on payroll tax exemptions would put a “handbrake” on the State’s ailing training sector and put the economy at risk, according to WA’s business lobby. The West
Tianqi lithium output to charge ahead
China’s Tianqi has vowed to aggressively increase its production of lithium and believes transfer pricing negotiations with the Australian Taxation Office will become simpler when its $700 million lithium hydroxide plant begins production south of Perth this year. The Fin
The Australian Financial Review
Page 1: US President Donald Trump is poised to risk an international trade war by slapping aggressive new economic penalties on China in response to Beijing’s repeated theft of intellectual property from American business.
US interest rates could be 1 percentage point above Australia’s before the Reserve Bank of Australia even contemplates starting its hiking cycle after bullish growth spurred the Federal Reserve’s key rate above the RBA’s for the first time in 18 years.
Page 4: Australia’s foreign policy interests and ties with leading US politicians face significant disruption from looming congressional elections, with major Democratic victories likely to see Washington and Donald Trump’s White House reach new levels of political dysfunction.
Page 5: The Australian Securities Exchange says said energy prices could rise and investment in generation could be stifled unless the Energy Security Board ensures there is transparency and liquidity in future electricity markets under the Turnbull government’s proposed National Energy Guarantee.
Page 6: Prospects of a near-term rise in wages growth remain weak as a surge in available workers swamps the labour market, keeping the jobless rate from falling despite a record 17th straight month of job gains.
Page 8: Commonwealth Bank of Australia gave a roofer making $70,000 a year credit cards and increased his credit limit to $35,000 despite knowing he was a gambling addict, the Hayne royal commission heard on Thursday.
Page 12: Denying retiree investors refundable franking credits could lift the cost of capital for Australian firms, possibly leading to less investment and fewer jobs.
Page 14: The AFL will on Friday reveal a record $48.8 million surplus for its 2017 financial year from its highest income of $650 million, cementing its status as by far the richest sport in the country.
The encroachment of housing and commercial developments around airport land in Australia is creating ‘‘significant safety concerns’’, a Senate committee has found as it called for new rules to limit development near airports.
Page 15: Malcolm Turnbull’s department says mandatory caps on federal government employment are driving an increase in spending on external contracts and consultancies, while a former public service chief has warned the gutting of the workforce by successive governments is seeing the ‘‘overuse and misuse of consultants’’.
Page 19: The managing director of Australia’s largest brick maker expects residential house prices to largely go sideways over the next year or so, although the ‘‘bricklayer index’’ is pointing to continued robust demand for detached housing.
Myer’s record first-half loss was the final nail in the coffin for the retailer’s directors, says major shareholder Solomon Lew, who has issued a new call to investors to support his attempt to oust the entire board.
Page 21: China’s Tianqi has vowed to aggressively increase its production of lithium and believes transfer pricing negotiations with the Australian Taxation Office will become simpler when its $700 million lithium hydroxide plant begins production south of Perth this year.
Page 24: The shift to 5G telecommunications networks will bring about a dramatic change in the battery life of mobile devices, with smartphone users only having to charge their device once a month, according to the chief executive of Verizon.
Page 29: Rio Tinto was seeking clarification from Swiss authorities yesterday after officials in the nation said they were investigating whether the miner paid bribes linked to Mongolia’s Oyu Tolgoi copper mine.
The Australian
Page 2: Female participation in the workforce has reached its highest level, pushing the unemployment rate to 5.6 per cent, a sign the anticipated rise in wage growth could take longer than expected.
Page 6: Australian sharemarket investors should get an immediate sugar hit from a cut in big company taxes if the US experience is anything to go by.
One Nation leader Pauline Hanson has won a $60 million national apprenticeship pilot scheme that will prioritise regional Australia in return for supporting the government’s corporate tax cuts as Malcolm Turnbull edges closer to winning a major Senate victory.
Page 8: The former Barnett government lost control of the beleaguered $1.2 billion Perth Children’s Hospital project after senior ministers failed to question flawed advice from state bureaucrats, a bipartisan parliamentary committee has found.
Page 10: Advertisers threatened to abandon Facebook yesterday as Mark Zuckerberg admitted the company had made mistakes over the Cambridge Analytica scandal.
Page 18: Stubbornly high slack in the labour market is reinforcing expectations that official interest rates will remain at a record low this year, adding to downward pressure on the dollar.
Page 26: An unusually high number of borrowers fell behind on their home loan repayments after the latest Christmas period as interest rate increases start to push more families into mortgage stress, according to global ratings agency Standard & Poor’s.
Page 28: The fiercely competitive airfares on the kangaroo route “won’t be going away”, say experts ahead of Qantas launching its historic nonstop flight from Perth to London tomorrow.
The West Australian
Page 4: Liberal leader Mike Nahan has come under fire for his role in the Perth Children’s Hospital saga, with a parliamentary inquiry into the project saying the former treasurer’s approach was “not good enough”.
Page 6: Perth should become Europe’s gateway to Australia, targeting tourism and business links as Britain prepares to quit the European Union, EU Ambassador Michael Pulch says.
Page 7: More than one in 10 subcontractors routinely waits more than three months to get paid, according to a new survey, prompting claims the system is broken.
Page 11: The backer of Perth’s $1.8 billion Perth World Trade Center has a 300m-high Plan B version ready for its Megamart site at 30 Beaufort Street but has yet to decide whether to apply for development approval.
Page 14: WA Liberal MPs have vowed to campaign against any move by Malcolm Turnbull to strike a treaty with Aboriginals, warning the plan would “enshrine division” in the nation’s legal system.
Business: A reclusive WA mining boss has issued another writ against private detective turned-internet troll Terry McLernon — this time accusing him of contempt of court and calling for him to be jailed.
Canada’s RNC Minerals is set to put its small-scale Beta Hunt nickel-gold mine on the market in a move that could revive talks of a potential consolidation of the Kambalda nickel district.
A planned crackdown on payroll tax exemptions would put a “handbrake” on the State’s ailing training sector and put the economy at risk, according to WA’s business lobby.
WA’s biggest gas storage facility is expanding less than a year into operation as it fills with surplus gas bought by Citic Pacific.
Brickworks has shipped more than eight million bricks from WA to the east coast as new housing approvals in the State slumped to a 15-year low.
A restart of operations at the shuttered Ellendale diamond mine in the Kimberley is still more than two years years away, the Department of Mines, Industry Regulation and Safety says.
