10/08/2017 - 06:46

Morning Headlines

10/08/2017 - 06:46

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BHP Nickel West charged by battery boom new revolution

BHP Billiton has moved to approve $US43.2 million in funding to develop the first stage of the world’s largest nickel sulphate facility in a bid to tap into the rapidly growing lithium-ion battery supply chain. The Fin

 

Jobs shock as mine to close

Canada’s First Quantum Minerals says it will close the Ravensthorpe nickel mine in the State’s southeast, threatening the jobs of up to 500 workers. The West

 

ACCC attacks ‘appalling’ car dealers

Australian Competition and Consumer Commission chairman Rod Sims has angrily criticised the $64 billion new car retailing industry for ignoring the consumer rights of buyers and fostering a system where profit margins from car servicing have reached a whopping 64 per cent. The Fin

 

SMSFs could be hit by Labor trust proposal

Self-managed superannuation funds could be hit by Labor’s plans to levy a minimum tax on family trust distributions, a specialist super lawyer says. The Fin

 

Qantas bills police for helping to fight crime

Qantas and its subsidiary Jetstar are charging police and other law-enforcement agencies $50 almost every time they request information about passengers in investigations, from organised crime to routine inquiries. The Aus

 

Vodafone calls for NBN price cut

Vodafone Hutchison Australia chief executive Inaki Berroeta is hoping for some action from NBN Co as the company rolling out the National Broadband Network gets ready to reveal a new corporate plan at the end of this month. The Aus

 

Solar battery over-regulation could electrocute industry, suppliers warn

A move by Standards Australia to impose tough rules on batteries storing energy from solar panels would kill the industry, suppliers have warned. The Aus

 

Perth at heart of bank scandal

A Perth branch of the Commonwealth Bank attempted to warn the institution about suspicious deposits totalling thousands of dollars made by organised criminals but their concerns went unheeded for months, court documents reveal. The West

 

St Barbara, Gold Road split forum’s major prizes

St Barbara has claimed the 2017 Diggers and Dealers Digger Award for delivering stakeholders “strong equity growth” after ongoing performance and development. The West

 

The Australian Financial Review

P1: Commonwealth Bank of Australia says it is investigating whether excessive management complexity contributed to alleged breaches of money laundering laws by confusing executive accountability, after chairman Catherine Livingstone declared the board would take an active role cleaning up the mess.

P3: Australian Competition and Consumer Commission chairman Rod Sims has angrily criticised the $64 billion new car retailing industry for ignoring the consumer rights of buyers and fostering a system where profit margins from car servicing have reached a whopping 64 per cent.

P4: The political future of One Nation senator Malcolm Roberts is in the lap of the law after he was referred to the High Court on Wednesday amid claims he was a dual British citizen at the time of his election and therefore in breach of the Constitution.

P6: Self-managed superannuation funds could be hit by Labor’s plans to levy a minimum tax on family trust distributions, a specialist super lawyer says.

P7: Bond markets have played a key role in forcing Australia’s biggest mining companies to haul back on investment spending since 2012, pushing states like Queensland and Western Australia into significant economic downturns, suggests the Reserve Bank of Australia.

P15: BHP Billiton has moved to approve $US43.2 million in funding to develop the first stage of the world’s largest nickel sulphate facility in a bid to tap into the rapidly growing lithium-ion battery supply chain.

 

The Australian

P1: Qantas and its subsidiary Jetstar are charging police and other law-enforcement agencies $50 almost every time they request information about passengers in investigations, from organised crime to routine inquiries.

P2: Foxtel has claimed a significant victory in the fight against illegal streaming services, after a Sydney man was convicted of selling unauthorised Foxtel services to thousands of people.

P3: Clive Palmer wants a better price for his superyacht Maximus, with the luxury boat’s salesman revealing the former federal MP has rejected a $3 million offer.

P4: Malaysia is poised to abolish mandatory death sentencing for drug-traffickers, potentially sparing the life of Australian grandmother Maria Elvira Pinto Exposto, on trial there for allegedly smuggling methamphetamine.

P6: The Senate has unanimously referred the election of One Nation senator Malcolm Roberts to the High Court, after his leader Pauline Hanson conceded the case surrounding his citizenship status had become “very complex”.

P17: The chairman of the Japan Postowned Toll Holdings, John Mullen, has conceded the transport business is in a worse state of disrepair than he and its new owners expected, but he remains confident it will return to profitability this year.

P19: Vodafone Hutchison Australia chief executive Inaki Berroeta is hoping for some action from NBN Co as the company rolling out the National Broadband Network gets ready to reveal a new corporate plan at the end of this month.

P20: A move by Standards Australia to impose tough rules on batteries storing energy from solar panels would kill the industry, suppliers have warned.

 

The West Australian

P1: A Perth branch of the Commonwealth Bank attempted to warn the institution about suspicious deposits totalling thousands of dollars made by organised criminals but their concerns went unheeded for months, court documents reveal.

Canada’s First Quantum Minerals says it will close the Ravensthorpe nickel mine in the State’s southeast, threatening the jobs of up to 500 workers.

P3: The Federal Government will not hand over any money towards the new Perth Stadium despite contributing millions of dollars to similar projects interstate.

P4: The Senate has voted to refer Senator Malcolm Roberts to the High Court as One Nation leader Pauline Hanson concedes the case surrounding her colleague’s citizenship at the time of his election is “complicated”.

P5: A team of people have been given the job of turning taps on and off at the strife-torn Perth Children’s Hospital as the lead contamination issue continues to stall the $1.2 billion building’s opening.

P8: The Federal Government’s gun amnesty has turned up some incredible historical finds across WA, with owners handing in rare weapons dating to before the Boer War.

P9: The Royal Agricultural Society has recorded another milliondollar loss after the worst attended Perth Royal Show in several decades.

P12; Labor’s most powerful union is pushing the State Government to break its “no new taxes” election pledge by slugging foreign investors who leave WA properties vacant.

P13: Mark McGowan is getting closer to moving out of Hale House — the West Perth office he dubbed the “Premier’s Palace” after his predecessor Colin Barnett spent almost $26 million renovating the historic building five years ago.

P48: St Barbara has claimed the 2017 Diggers and Dealers Digger Award for delivering stakeholders “strong equity growth” after ongoing performance and development.

BHP’s Nickel West division is set to join the new energy revolution after approving a $US43.2 million budget for a nickel sulphate project at its Kwinana nickel refinery.

Former WA treasurer Troy Buswell has quit his job as chief financial officer of struggling contracting company Brierty.

P50: The historic Central Norseman gold mine is edging closer to revival after its private owners put it up for sale, with industry speculation suggesting Central Norseman Gold Corporation could be looking for between $300 million and $400 million. 

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