24/11/2017 - 06:46

Morning Headlines

24/11/2017 - 06:46

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Morning Headlines

Goldfields prefers a merger

Goldfields Money has offered up a $60 million merger proposal with one of the country’s fastest growing mortgage wholesalers as the alternative to Firstmac’s hostile cash takeover bid. The West

Miners facing social headwinds: Klein

The resources industry urgently needs to stem eroding community support or risk becoming a ‘‘politically acceptable target’’, says Evolution Mining executive chairman Jake Klein. The Fin

Libs at war as Nahan, Barnett fight it out

Warfare has broken out in the Liberal Party after leader Mike Nahan called on former premier and Cottesloe MP Colin Barnett to quit politics. The West

South32 fights culture war at coal mine

South32 chief executive Graham Kerr says the mining company is dealing with a ‘‘long-term cultural issue’’ at its Illawarra Metallurgical Coal business in New South Wales, where it has faced operational problems and a controversial unfair dismissal ruling. The Fin

Super funds pressed to be lenders

Australia’s business leaders and financiers are backing a push for superannuation funds to increase their lending to the corporate sector, boosting economic growth and creating reliable sources of income for retirees. The Fin

Alinta wins $1.2b race for Loy Yang B

Chinese-owned Alinta Energy has demonstrated the value still to be had from coal-fired power, stumping up about $1.2 billion to buy the Loy Yang B generator in defiance of those proclaiming the death of the fuel. The Fin

Woolies’ warning to suppliers

Woolworths chairman Gordon Cairns has issued a veiled warning to food and grocery suppliers, saying they could ‘‘cut their own throats’’ by selling on Amazon and losing control over prices. The Fin

NEG ‘will kill’ large-scale wind and solar boom

The proposed National Energy Guarantee using the Turnbull government’s preferred greenhouse gas emissions reduction target would snuff out the boom in large-scale wind and solar farms, a new analysis says. The Fin

 

 

The Australian Financial Review

Page 1: Behind-the-scenes efforts to thwart a bank inquiry are intensifying as Nationals senator Barry O’Sullivan unveiled legislation for an extensive probe which ranges from banking, insurance and superannuation services to the adequacy of regulation and the treatment of small business and farmers.

Australia’s business leaders and financiers are backing a push for superannuation funds to increase their lending to the corporate sector, boosting economic growth and creating reliable sources of income for retirees.

Page 12: The proposed National Energy Guarantee using the Turnbull government’s preferred greenhouse gas emissions reduction target would snuff out the boom in large-scale wind and solar farms, a new analysis says.

Page 17: NAB chairman Ken Henry says regulators should have done a better job explaining to the public attempts to cool housing markets that forced rate rises.

Woolworths chairman Gordon Cairns has issued a veiled warning to food and grocery suppliers, saying they could ‘‘cut their own throats’’ by selling on Amazon and losing control over prices.

Page 19: Chinese-owned Alinta Energy has demonstrated the value still to be had from coal-fired power, stumping up about $1.2 billion to buy the Loy Yang B generator in defiance of those proclaiming the death of the fuel.

Page 21: South32 chief executive Graham Kerr says the mining company is dealing with a ‘‘long-term cultural issue’’ at its Illawarra Metallurgical Coal business in New South Wales, where it has faced operational problems and a controversial unfair dismissal ruling.

The resources industry urgently needs to stem eroding community support or risk becoming a ‘‘politically acceptable target’’, says Evolution Mining executive chairman Jake Klein.

 

 

The Australian

Page 1: Former Treasury secretary Ken Henry has issued an extraordinary attack on the Reserve Bank’s framework for setting interest rates, as the nation’s top bankers said a deluge of new regulations and the prospect of a royal commission were throttling their ability to remain internationally competitive.

Page 9: The nation’s peak energy regulators have crushed talk of big new investments in coal-fired power, issuing formal advice that shows no new coal under the federal government’s national energy guarantee.

Page 19: The corporate regulator is keeping secret the name of a former staff member involved in killing off an investigation into largescale profiteering allegedly perpetrated by Commonwealth Bank, because the possible detriment to the individual outweighs the public’s right to know about how the decision was made.

Page 20: CrownBet and William Hill talks shorten odds of merger CrownBet and its rival William Hill are believed to have held in-depth talks on a potential deal in the first round of consolidation expected to emerge in the corporate bookmaking industry in the next few months.

Sources were questioning last night whether the Lowy family could be about to close the chapter on its history as an Australian shopping centre landlord with speculation they could be about to sell its existing shares in Scentre Group.

Page 23: Challenges from the big technology platforms are a greater threat to the future of any bank than competition from other banks and are likely to lead to fewer jobs in the industry, banking leaders have warned.

 

 

The West Australian

Page 1: Patient safety at Perth’s largest maternity hospital has been seriously affected by a raft of internal issues including a chronic staffing shortage, according to an internal report.

Page 3: WA is awash with thousands of unregulated backyard swimming pools, according to a six-year investigation into child drownings that found councils relied on tip-offs from neighbours and aerial maps to find new pools.

Page 5: Warfare has broken out in the Liberal Party after leader Mike Nahan called on former premier and Cottesloe MP Colin Barnett to quit politics.

Page 12: WA shipbuilder Austal will play a major role in building offshore patrol vessels for the Royal Australian Navy under a $3 billion program — with a surprise twist.

Page 14: Australia’s obesity crisis has hit pre-schoolers with one in five of two to four-year-olds classified as overweight or obese, a government report has revealed.

Page 18: Tax cuts for middle-income earners have been factored in to the Budget’s long-term assumptions, Finance Minister Mathias Cormann says, as he launched a fresh assault on Labor leader Bill Shorten for promoting higher taxes.

Page 22: Owners of decaying and neglected heritage buildings could face a $1 million fine and be jailed for a year if they do not agree to emergency repairs.

Page 32: The stadium footbridge will be not be ready for the start of next year’s AFL season and has been redesigned to save $4 million in construction costs and $11 million in maintenance over 40 years.

Page 64: WA’s premier food and wine show, the Margaret River Gourmet Escape, has been granted a stay of execution after the State Government decided to renew its licence.

Business: Goldfields Money has offered up a $60 million merger proposal with one of the country’s fastest growing mortgage wholesalers as the alternative to Firstmac’s hostile cash takeover bid.

Billionaire Gina Rinehart has put her mothballed Waroona abattoir south of Perth on the market.

First Graphite says its new graphene production plant at Henderson will be the biggest of its kind in the world.

Investors have welcomed the sale of Automotive Holdings Group’s refrigerated logistics division to a hungry Chinese company, overlooking a profit retreat at its vehicle dealerships.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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