18/07/2017 - 06:44

Morning Headlines

18/07/2017 - 06:44

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WA wants unspent port cash

The State Government has demanded Canberra hand over $339 million that has been sitting in Federal coffers for almost nine years for the now-abandoned Oakajee port project. The West

 

PM to opt for security super agency

Malcolm Turnbull is set to overrule a divided cabinet and establish a new super-portfolio that will oversee all aspects of national security, ranging from border protection to counterterrorism. The Fin

 

Twiggy changes his tune as Fortescue plans for iron boost

Andrew Forrest’s Fortescue Metals Group has flagged it will add the capacity for another 20 million tonnes a year of iron ore production when it develops its next Pilbara mine, just two years after it led a controversial campaign for Australia’s big iron ore producers to cap their output. The Aus

 

NBN costs put brake on speeds

Millions of Australians will see their internet speeds fall when they are moved on to the National Broadband Network, despite still being charged the same for access. The Aus

 

Medcraft slams hybrids

Billions of dollars of hybrid securities issued to retail investors by the major banks will eventually cause problems for the financial system, according to outgoing chairman of the Australian Securities and Investments Commission Greg Medcraft. The Fin 

 

Harrison found liable to pay Seven’s costs

Former executive assistant Amber Harrison is liable to pay Seven West Media’s legal costs after a court found she acted unreasonably in contesting Seven’s case against her. The Fin

 

Catholics want $1bn to fill gap

The National Catholic Education Commission is pushing for an extra $1.1 billion in funding over the decade to correct what it argues is a major flaw in the government’s already legislated Gonski 2.0 reforms to school financing. The Aus

 

Tenants’ $55m bill

Debt owed by public housing tenants in WA is spiralling out of control, increasing 33 per cent in just two years, new figures have revealed. The West

 

Blackham battered over more Wiluna worries

Shares in Blackham Resources tumbled to an 18-month low yesterday after the gold miner issued another disappointing production update from its Matilda/Wiluna operations. The West

 

The Australian Financial Review

Page 1: Billions of dollars of hybrid securities issued to retail investors by the major banks will eventually cause problems for the financial system, according to outgoing chairman of the Australian Securities and Investments Commission Greg Medcraft.

The prospect of an Australian dollar above US80¢ is no barrier to the first Reserve Bank of Australia interest rate increase since 2010, says a top economist who believes the hike will happen on Melbourne Cup Day in November.

Page 3: Former executive assistant Amber Harrison is liable to pay Seven West Media’s legal costs after a court found she acted unreasonably in contesting Seven’s case against her.

Page 4: Malcolm Turnbull is set to overrule a divided cabinet and establish a new super-portfolio that will oversee all aspects of national security, ranging from border protection to counterterrorism.

Page 5: The ‘‘sky is the limit’’ for Arrium’s Whyalla Steelworks with the plant having the long-term potential to expand its capacity 10-fold, British industrialist Sanjeev Gupta says.

Page 7: The corporate watchdog has dramatically intervened in the collapse of the Ten Network, as lawyers for billionaire shareholders Lachlan Murdoch, James Packer and Bruce Gordon trade barbs over whether Ten administrators KordaMentha, who are controlling the sale process, are conflicted.

Page 11: Bellamy’s Australia chief executive Andrew Cohen says his turnaround plan is boosting profits despite the infant formula marketer being plunged into turmoil by the surprise suspension by Chinese authorities of a licence at its recently acquired canning facility.

 

The Australian

Page 1: Millions of Australians will see their internet speeds fall when they are moved on to the National Broadband Network, despite still being charged the same for access.

Malcolm Turnbull has cautiously backed what he called “a very big new idea” on indigenous constitutional recognition as the Referendum Council he and Bill Shorten appointed 18 months ago delivered its final report with just a single recommendation, of a special advisory body to the parliament.

Page 3: Amber Harrison, a former executive assistant at Seven West Media and lover of its chief executive, must pay all of Seven’s hefty legal costs, a judge ruled yesterday while warning it was unlikely that she could do so.

Page 4: The National Catholic Education Commission is pushing for an extra $1.1 billion in funding over the decade to correct what it argues is a major flaw in the government’s already legislated Gonski 2.0 reforms to school financing.

Page 5: Property investors are more active in Sydney, meaning a regulatory crackdown on investor lending is having a more pronounced effect in that city than in Melbourne.

Page 6: Coles did not conduct any modelling on whether its 2014 employment deal with unions affecting 76,000 employees could pass the “better off overall” test, the Fair Work Commission has heard.

Page 17: The James Packer-backed Ellerston Capital’s move to increase its shareholding in The Star Entertainment Group — a rival to his Crown Resorts casino empire — is fuelling market talk of future industry consolidation.

Andrew Forrest’s Fortescue Metals Group has flagged it will add the capacity for another 20 million tonnes a year of iron ore production when it develops its next Pilbara mine, just two years after it led a controversial campaign for Australia’s big iron ore producers to cap their output.

 

The West Australian

Page 1: Debt owed by public housing tenants in WA is spiralling out of control, increasing 33 per cent in just two years, new figures have revealed.

Page 3: WA is experiencing an explosion in stomach bug illnesses, with more than 4000 cases so far this year and many of them caused by food.

Page 4: WA’s only juvenile correctional facility is a failure and should be closed and repurposed, the prison watchdog has declared.

Page 8: Gender expert Catharine Lumby and the National Council of Women have defended the two AFL executives who lost their jobs over their affairs.

Prime Minister Malcolm Turnbull is set to risk creating more divisions within his Cabinet and overrule senior ministers to create a super-security department that would bring together spy agency ASIO, the Australian Federal Police and the Australian Border Force.

Page 10: The State Government has demanded Canberra hand over $339 million that has been sitting in Federal coffers for almost nine years for the now-abandoned Oakajee port project.

Page 45: DDH1 Drilling is eyeing expansion through acquisitions after a US distressed assets specialist bought a stake in the private mining contractor.

Former Quintis boss Frank Wilson has described the hardpressed sandalwood grower’s threat to pursue him over an alleged default on $11 million of company loans as “unnecessary” and “disappointing”.

Family-owned precision engineer VEEM has wrapped up what it reckons was a pretty good year by hitting nearly all of its financial forecasts and banking a wealth of sales leads.

Page 46: Fortescue Metals Group says both its Eliwana and Nyidinghu projects in the Pilbara will ultimately be developed while insisting it has not yet decided which option will be the immediate replacement for its depleting Firetail mine.

Page 47: Shares in Blackham Resources tumbled to an 18-month low yesterday after the gold miner issued another disappointing production update from its Matilda/Wiluna operations.

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