The Australian
Soaring bank stocks drove the share market to its biggest one-day rise in more than two years, as investors poured $19 billion back into the market yesterday, relieved that Kenneth Hayne's royal commission would not devastate the sector and there would be no immediate political backlash.
Australia Bank chief Andrew Thorburn has vowed to stay in his role and revisit the embattled bank's plan to fix its culture, despite harsh royal commission criticism and growing concerns among shareholders over accountability.
Independent Julia Banks snubbed the biggest annual event in her Melbourne electorate of Chisholm, choosing instead to go "on the hustings" to a winery and film festival in the Liberal seaside electorate of Flinders that she has chosen to contest at the next election.
The Sydney Morning Herald
Labor will fast-track a key finding of the Hayne royal commission to scrap "grandfathered" fees paid to financial planners in a challenge to the Morrison government to act more quickly on the scathing report.
The Age
Billionaire political donor and Beijing's former top lobbyist in Australia, Huang Xiangmo, has been stranded overseas after Australian officials declared him unfit to hold an Australian passport and cancelled his permanent residency.
The Courier Mail
The Queensland Government has been warned more major developers could collapse this year, leaving thousands of subcontractors out of pocket, if urgent action is not taken to clean up the construction industry. More than 50 building companies have collapsed in Queensland since 2013, leaving more than 7000 subbies owed $500 million.
The Advertiser
The median value of Adelaide houses has soared to a record high, continuing its climb towards $500,000 and defying declining markets across Australia's major capital cities.
The West Australian
The Australian Productivity Commission has delivered Perth Airport a major win in its ugly Supreme Court battle with Qantas over passenger charges.
