20/09/2017 - 06:45

Morning Headlines

20/09/2017 - 06:45

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Morning Headlines

Iron ore has peaked and so has China production, says RBA

Reserve Bank of Australia officials have called the top of the current iron ore price boom, saying China’s production of steel was likely to ease from here on while supply of the raw material would keep increasing. The Fin

 

Take II: Chem labs for sale

The Metropolitan Redevelopment Authority has moved to reboot the stalled redevelopment of the old State chemistry laboratories site in East Perth on the corner of Hay and Plain Streets. The West

 

Acquisitive Ramelius eyes New Gold mine, Doray Minerals takeover

Fresh from striking a deal to buy Evolution Mining’s Edna May mine in Western Australia, Ramelius Resources is now thought to have its eye on numerous other targets, including New Gold’s Peak mine in NSW. The Aus

 

Gold tax war

Two of the world’s biggest gold miners, including the part-owner of Kalgoorlie’s Super Pit, have fired clear shots in the battle over the State Government’s gold royalty hike, warning that job-creating expansions were in jeopardy. The West

 

Turnbull’s setback puts agenda for new revolution up for grabs

The Coalition government has conceded that Prime Minister Malcolm Turnbull’s vague ‘‘innovation agenda’’ was a political failure at last year’s election and it has been too distracted with energy policy to produce a plan. The Fin

 

BHP to review its Minerals Council seat

BHP Billiton will review its membership with the Minerals Council of Australia and other industry bodies after green groups claimed the MCA and the miner have different positions on climate change. The Fin

 

Enterprise deals unworkable, bosses warn

Employers have called on the Turnbull government to change workplace laws, warning enterprise bargaining in the retail and fastfood sectors was “grinding to a halt”. The Aus

 

Court dismisses Palmer appeal

The High Court has swiftly rejected an attempt by Clive Palmer to snatch control of a West Australian iron ore port from his estranged Chinese business partner, Citic. The Aus

 

Thermomix cooks up cash for Perth couple

Fans of the German-engineered cooking wonder appliance, the Thermomix, swear by it, despite the $2089 cost. The West

 

The Australian Financial Review

Page 1: The Coalition government has conceded that Prime Minister Malcolm Turnbull’s vague ‘‘innovation agenda’’ was a political failure at last year’s election and it has been too distracted with energy policy to produce a plan.

AGL Energy faces ‘‘a huge daily challenge’’ just to keep its ‘‘geriatric’’ Liddell coal-fired power station running and will need to spend up to $150 million just to ‘‘keep our noses above water’’ until 2022.

P3: Nick Xenophon will introduce legislation next year to require the prudential regulator to closely consider the impact of its actions on competition, and the different housing markets across Australia when applying lending limits.

P7: Labor leader Bill Shorten will ramp up his campaign for the greater use of gas to generate baseload electricity as he counters the Turnbull government’s preference to prolong the life of old coal-fired power stations.
Reserve Bank of Australia officials have called the top of the current iron ore price boom, saying China’s production of steel was likely to ease from here on while supply of the raw material would keep increasing.

P13: TPG Telecom executive chairman David Teoh is slashing the company’s dividend and asking shareholders to fund new mobile networks in Singapore and Australia in a bid to offset declining revenue from its broadband division as the NBN rollout continues.

The competition regulator appears to be relying on local market knowledge to help it decide if BP’s $1.8 billion acquisition of Woolworths’ fuel business will lessen competition in more than 200 markets.

P15: BHP Billiton will review its membership with the Minerals Council of Australia and other industry bodies after green groups claimed the MCA and the miner have different positions on climate change.

 

The Australian

Page 1: Tony Abbott has sent a warning to Malcolm Turnbull that he will cross the floor of parliament and vote against any government attempt to legislate a clean energy target, in a move that threatens to increase divisions in the Coalition partyroom over energy policy.

P2: Pauline Hanson’s One Nation has missed the deadline to register for the next South Australian election and will focus only on a Queensland poll.

P5: Employers have called on the Turnbull government to change workplace laws, warning enterprise bargaining in the retail and fastfood sectors was “grinding to a halt”.

P6: The Moree solar farm owned by a Saudi Arabian billionaire stands to collect $180 million for its electricity in a long-term deal that will deliver handsome returns, as the federal government prepares to scale back subsidies for renewable energy.

The worst impacts of climate change can still be avoided, senior scientists have said after revising their previous predictions.

P7: The High Court has swiftly rejected an attempt by Clive Palmer to snatch control of a West Australian iron ore port from his estranged Chinese business partner, Citic.

P19: Coalminer New Hope Group says Australia’s energy policy “trilemma” is no different to that of Japan, Korea and Taiwan, whose construction of new coalfired plants is helping drive prices and demand for Australia’s top quality thermal coal, and strengthening the miner’s profit.
The contentious “four pillars” ban on mergers between the major banks is back on the agenda after the ACCC asked the Productivity Commission to consider the impact of the policy on competition in the financial system.

P20: Fresh from striking a deal to buy Evolution Mining’s Edna May mine in Western Australia, Ramelius Resources is now thought to have its eye on numerous other targets, including New Gold’s Peak mine in NSW.

P21: TPG boss David Teoh says he’s confident the telco can become a heavyweight mobile provider but admits the company has a massive task ahead of it.

 

The West Australian

Page 1: Two of the world’s biggest gold miners, including the partowner of Kalgoorlie’s Super Pit, have fired clear shots in the battle over the State Government’s gold royalty hike, warning that jobcreating expansions were in jeopardy.

P3: The business lobby has lashed the McGowan Government for knocking back extended trading on this Monday’s Queen’s Birthday public holiday while 140,000 underemployed West Australians chase more work.

P9: The State Government will consider a minimum floor price for alcohol that would rule out ultra-cheap bottles of wine that sell for a few dollars.

P13: There has been another big fall in the number of Eastern States people travelling to WA for tourism or business.

A deal for West Coast and Fremantle to play at Perth Stadium could be reached as early as this week, Sport Minister Mick Murray has told Parliament.

P14: State Parliament could soon start each day with a recognition of Aboriginal country under a push by Labor, bringing WA into line with the rest of Australia.

P29: Woolworths has had to restate its support for same-sex marriage after disgruntled shoppers threatened a boycott of its supermarkets over high-profile former chief executive Roger Corbett’s public backing of the No case.

P85: Ten Network creditors have voted overwhelmingly in favour of a takeover by US giant CBS, delivering an apparent knockout blow to Bruce Gordon and Lachlan Murdoch’s hopes of owning Australia’s third-ranked TV broadcaster.

A first shipment of beef cattle to China has cut through the gloom around Wellard and injected some sorely needed energy into its languishing shares.

P86: The Reserve Bank has called the top of the China-led explosion in demand for iron ore, urging Australian miners to start looking at new markets.

P87: Fans of the German-engineered cooking wonder appliance, the Thermomix, swear by it, despite the $2089 cost.

P88: The Metropolitan Redevelopment Authority has moved to reboot the stalled redevelopment of the old State chemistry laboratories site in East Perth on the corner of Hay and Plain Streets.

P89: Improved confidence in the regions in the five months since receivers McGrathNicol took charge of two Karratha pub and liquor stores have convinced them to test the market.

P91: Perth’s CBD office rents are stable — but there is downward pressure on hefty incentives, according to bluechip real estate agency Knight Frank.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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