Your morning Briefing

Welcome to your morning roundup of what’s making news and the must-reads for today.

Good morning readers. Here is your two-minute digest of what’s making news today.

Prime Minister Malcolm Turnbull speaks to the media as he announces changes in his ministerial cabinet during a press conference in Sydney, Tuesday, December 19, 2017. (AAP Image/Daniel Munoz) NO ARCHIVING

PM’s big reboot

Malcolm Turnbull has promoted conservatives and regional MPs to the frontbench in a sweeping ­ministerial reshuffle that has sparked a fresh round of infighting within the Nationals, as the Prime ­Minister moves to reset the government’s priorities on national security and jobs. Mr Turnbull elevated conservatives Peter Dutton, Mathias Cormann and Michaelia Cash into new super portfolios that oversee his government’s key issues for next year, headlined by job creation, tax cuts and security. The new ministry, which will be sworn in today, included backbench bolters John McVeigh and David Littleproud, who were handed cabinet spots, increasing Queensland’s representation to five. New blood was the PM’s only hope, concludes Simon Benson.

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The Westpac building on Kent St alongside the Western Distributor has put screens over the windows near the passing traffic and installed a security camera after missiles had been thrown .

‘It’s not going to be nice, I’m afraid’

These are the transcripts Westpac didn’t want you to see. Lesbian threesomes, Reserve Bank interventions and traders aggressively “steamrolling” the interest rate market — all are laid out in black and white in newly revealed transcripts of expletive-laden conversations among the bank’s staff. The corporate regulator ­accuses the bank of rigging the benchmark bank bill swap rate 16 times. In one exchange, Westpac’s star trader, Col “The Rat” Roden, tried to convince a more junior executive, Sophie “The Perfumed Steamroller” Johnston, it would be a good idea to engage in a lesbian threesome in romantic Prague.

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03/08/2017: NSW chief scientist Mary O'Kane at the CEDA panel discussion in Sydney on Thursday. Santos and APA have butted heads over pipeline costs, which Santos says is a big part of high east coast gas prices. Hollie Adams/The Australian

Blackout ‘chaos’ warning

Up to 10,000 Sydney commuters on underground trains would have to be evacuated, surface roads would be gridlocked and ferries may have to move ­people out of the CBD if there was a “black’’ power event of the type that hit South Australia last year. The final report of the Energy Security Taskforce said while a large-scale blackout of the power system was highly unlikely in NSW — the last one occurred in 1964 — the Sydney CBD could be without power for nine to 15 hours.

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Sir Ian McKellen and a #metoo supporter. Picture: Supplied.

‘Directors’ rights respected’

British actor Sir Ian McKellen claims women should bear some of the blame for the sexual abuse scandal convulsing the entertainment world, because some trade sex for choice roles. “When I was starting acting in the early Sixties, the director of the theatre I was working at showed me some photographs he got from women who were wanting jobs ... some of them had at the bottom of their photograph ‘DRR’— directors’ rights respected. In other words, if you give me a job, you can have sex with me.”

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Rod Clement Margin Call cartoon for 20-12-17 Version: (Original)COPYRIGHT: The Australian's artists each have different copyright agreements in place regarding re-use of their work in other publications.Please seek advice from the artists themselves or the Managing Editor of The Australian regarding re-use.

Stokes cracks whip

Look out punters: billionaire Kerry Stokes looks to be gaining a rails run in the race for the $500 million-plus privatisation of the West Australian TAB, writes Margin Call. Former James Packer executive and Crown Resorts boss Rowen Craigie has been sneaked on to the board of Seven West Media and the Victorian racing industry joint venture Racing.com, as the partners prepare for the potential sell-off of WA Labor Premier Mark McGowan’s tote.

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England captain Joe Root departs after being dismissed by Australian bowler Nathan Lyon for 14 runs on Day 4 of the Third Ashes Test match between Australia and England at the WACA ground in Perth, Sunday, December 17, 2017. (AAP Image/Dave Hunt) NO ARCHIVING, EDITORIAL USE ONLY, IMAGES TO BE USED FOR NEWS REPORTING PURPOSES ONLY, NO COMMERCIAL USE WHATSOEVER, NO USE IN BOOKS WITHOUT PRIOR WRITTEN CONSENT FROM AAP

Being Joe Root

Joe Root arrived in Australia as one of the best batsmen in world cricket but now faces the grim prospect of leaving as England’s worst-­performing Ashes touring captain in 40 years. Just 10 months into the top job, Root already has surrendered the urn after Australia took an un­assailable 3-0 series lead following their crushing innings victory at the WACA. But his return of 176 runs at an average of 29.33 over the first three Ashes Tests has cast doubt on his ability to handle the pressure.

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Kudelka’s view

Jon Kudelka Letters cartoon for 20-12-17Version: (650x366)COPYRIGHT: The Australian's artists each have different copyright agreements in place regarding re-use of their work in other publications.Please seek advice from the artists themselves or the Managing Editor of The Australian regarding re-use.