07/03/2018 - 06:14

Morning Headlines

07/03/2018 - 06:14

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Morning Headlines

Turnbull, BHP warn Trump on the dangers of a trade war

Malcolm Turnbull will use this week’s signing of the Trans-Pacific Partnership to send a blunt message to the Trump administration over protectionism and warn nations planning to retaliate that everybody will lose if there is a global trade war. The Fin

200 Pilbara jobs axed as Rio goes driverless

Rio Tinto will axe up to 200 jobs at two of its inland Pilbara mines by early next year as a result of the company’s automation of truck fleets at both sites. The West

Super union gets Fair Work green light

The Fair Work Commission’s ruling handed down yesterday gave the green light to a new super union between the Construction, Forestry, Mining and Energy Union and the Maritime Union of Australia, with a total 144,000 members, combined revenue of $146 million a year and $310 million in combined assets. The Fin

Cut tax, funds will flow: BHP

BHP chief executive Andrew Mackenzie has pledged to scale up spending in Australia from a potential $25 billion investment pipeline “within months” if a broad-based corporate tax cut is passed. The Aus

Inside Perth City Chaos

A secret investigation of a property developer’s ill-founded concerns of corruption at the City of Perth focused on claims about a carpark redevelopment and whether Lord Mayor Lisa Scaffidi was trying to shore up support ahead of a council election. The West

International students flock to Australia

The number of international students in Australia rose by a record 13 per cent last year, with China more dominant in the student mix than ever, according to new federal government figures. The Aus

UDIA chief welcomes new land tax debate

The WA chapter of the Urban Development Institute of Australia is reconsidering its opposition to land tax — in return for eliminating stamp duty on property transfers — in a bid to reenergise the State’s lethargic economy. The West

Vocus chair follows CEO out the door

Vocus chairman Vaughan Bowen has quit the board of the nation’s fourth largest telecommunications provider just eight days after the premature departure of its chief executive. The Fin

Racing great sees hurdles for TAB sale

WA racing legend Fred Kersley has put the State Government on notice over the potential sale of the TAB, saying the industry would oppose any privatisation that left it worse off. The West

 

 

The Australian Financial Review

AFR Business Summit Review: Malcolm Turnbull will use this week’s signing of the Trans-Pacific Partnership to send a blunt message to the Trump administration over protectionism and warn nations planning to retaliate that everybody will lose if there is a global trade war.

Page 1: Labor shadow ministers and backbenchers are urging Bill Shorten to rein in his criticism of Adani’s Carmichael coal mine as the Opposition Leader lurches further to the left with hostility to the $16.5 billion project, sparking alarm over sovereign risk.

Coles managing director John Durkan has blamed cost of living pressures for shrinking grocery spending while unveiling a new advertising campaign that highlights the supermarket retailer’s ‘‘softer side’’.

Page 3: Wealthy property investors could be denied the tax benefits of negative gearing to increase federal budget revenue by more than $1 billion a year while cushioning the ordinary ‘‘mum-and dad’’ investors who Treasurer Scott Morrison is so concerned about.

Casino billionaire James Packer sent angry and aggressive emails to one of his closest advisers, UBS Australia chief executive Matthew Grounds, complaining about the investment opportunities being offered up by the top investment banker, according to a source familiar with their communications.

Page 6: Companies that appoint a sole, ‘‘token’’ woman to their boards will come under increasing pressure to replace long-serving male directors as part of a new push to speed up progress on gender equity targets.

Page 8: Timorese workers could be imported into Darwin to process gas from the Greater Sunrise field as a cheaper alternative to developing a new plant in Timor-Leste to ensure the project goes ahead while still delivering benefits to Australia’s tiny neighbour.

Page 10: The Fair Work Commission’s ruling handed down yesterday gave the green light to a new super union between the Construction, Forestry, Mining and Energy Union and the Maritime Union of Australia, with a total 144,000 members, combined revenue of $146 million a year and $310 million in combined assets.

Page 11: White House economic adviser Gary Cohn is summoning executives from US companies that depend on aluminium and steel to meet this week with President Donald Trump in a last-ditch effort to halt steep tariffs announced last week, according to two people familiar with the matter.

Page 12: China is promising to open up new sectors such as healthcare and telecommunications to overseas companies as part of a broader commitment to encourage more foreign investment in a country where Australian investors have had mixed success.

Page 13: Vocus chairman Vaughan Bowen has quit the board of the nation’s fourth largest telecommunications provider just eight days after the premature departure of its chief executive.

Rio Tinto believed the value of its Mozambique coal assets had risen by more than $US1 billion in the months after they were acquired for $US3.7 billion, according to documents filed by the miner in a US court on Tuesday.

Page 15: Activist shareholder James Dunphy has urged investors in AWE to ignore the board’s recommendation to accept Mitsui’s 95¢ a share takeover offer, telling them the stock is worth $1.10 a share and throwing a potential hiccup in the way of the $602 million cash takeover.

 

 

The Australian

Page 1: BHP chief executive Andrew Mackenzie has pledged to scale up spending in Australia from a potential $25 billion investment pipeline “within months” if a broad-based corporate tax cut is passed

Tens of millions of dollars that large aged-care providers collected illegally from residents under the guise of an “asset refurbishment” fee will be repaid or forcibly refunded after a Federal Court decision barred the practice.

Page 3: Public hospitals will have their funding docked if patients suffer complications — up to 21.3 per cent in cases of kidney failure — in an effort to give clinicians and administrators another reason to provide quality care.

Page 5: One of the nation’s biggest egg producers says activists led by Animals Australia and GetUp! have spent millions of dollars lobbying for a ban on battery cages that would make little difference to animal welfare but would push up prices for consumers by at least 30 per cent.

Page 19: Australia’s competitive wagering market is set for a major shake-up after CrownBet won the race for William Hill’s Australian outfit with a $300 million bid, pipping rival Sportsbet at the post.

Kenneth Rogoff, one of the world’s top economists, fears Donald Trump’s “grandstanding” on new tariffs on steel and aluminium is laying the groundwork for a “young Bernie Sanders” to become president on the back of worrying surge in antitrade sentiment in the world’s largest economy.

Page 21: Newly installed Foxtel chief executive Patrick Delany has revealed the company’s merger with Fox Sports will mark a major strategic shift in how the sports and entertainment player distributes its content.

Page 23: The big four banks have closed more than 100 branches over the past year as they pull out of smaller towns to focus on growth corridors of Australia’s major cities.

Page 30: The number of international students in Australia rose by a record 13 per cent last year, with China more dominant in the student mix than ever, according to new federal government figures.

 

 

The West Australian

Page 1:  A secret investigation of a property developer’s ill-founded concerns of corruption at the City of Perth focused on claims about a carpark redevelopment and whether Lord Mayor Lisa Scaffidi was trying to shore up support ahead of a council election.

Page 5: The State Government is underselling WA’s beer-brewing prowess, Perth researchers say.

Page 7: City of Perth chief executive Martin Mileham returned to work yesterday after taking stress leave amid turmoil in the council.

Page 11: WA racing legend Fred Kersley has put the State Government on notice over the potential sale of the TAB, saying the industry would oppose any privatisation that left it worse off.

Page 14: Retaliating against the US for imposing new import tariffs could escalate tensions and leave Australia worse off, a Federal Government frontbencher has warned.

Page 15: Almost $120 million will be spent upgrading a key intersection leading to Fremantle port under plans the WA Government claims will provide congestion relief for trucks and motorists.

Business: Rio Tinto will axe up to 200 jobs at two of its inland Pilbara mines by early next year as a result of the company’s automation of truck fleets at both sites.

Quadrant Energy is in dispute with the former owner of its WA gas operations, Apache, over their 2015 $US2.5 billion deal to sell the US oil company’s WA domestic gas assets.

The Association of Mining and Exploration Companies has expressed concern at data which showed a fall in greenfields minerals exploration across Australia in the December quarter.

The operator of an exploration prospect off central Africa in which Woodside Petroleum recently acquired a 30 per cent stake has made an oil and gas discovery.

Property: The WA chapter of the Urban Development Institute of Australia is reconsidering its opposition to land tax — in return for eliminating stamp duty on property transfers — in a bid to reenergise the State’s lethargic economy

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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