04/04/2018 - 06:11

Morning Headlines

04/04/2018 - 06:11

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Morning Headlines

US funding squeeze may hit here: Lowe

The Reserve Bank is concerned that a squeeze on short-term funding in the US is spilling over to Australian banks and may result in a de facto rate hike for Australian borrowers. The Aus

Bank ‘wrong on Raine overruns’

A Perth property developer claims his $500 million Raine Square development in Perth’s CBD collapsed largely because Bankwest wrongly said it had twice run over budget during construction. The West

Germans and Austal in patrol boats impasse

German shipbuilder Luerssen and Perth-based listed shipbuilder Austal are locked in negotiations over what role, if any, the home-grown company will have when construction shifts to WA from 2020. The Fin

Kresta moves WA production offshore

Chinese-owned window furnishings provider Kresta Holdings has closed its WA manufacturing operations in favour of offshore production as it struggles to stay competitive. The West

Officials arrested in copper inquiry

Mongolia’s anti-corruption investigation into agreements around Rio Tinto’s $US11 billion ($14.3bn) Oyu Tolgoi copper and gold mine has stepped up dramatically, with the arrest of two former officials involved in negotiations and a widening of the probe to include the project’s 2015 financing deal. The Aus

China accused of throwing tariff ‘punch’

Donald Trump’s top trade adviser and China hawk Peter Navarro has tried to quell market fears of an escalating tit-for-tat trade war, even as he accused Beijing of ‘‘throwing another punch’’ at America by imposing tariffs on US goods. The Fin

DevWest wins Perth City Link contest

DevWest has declared it is “super excited” to be the preferred bidder for a hotly contested 6300sqm Perth City Link site, Lot 10 north, an end development that will be worth hundreds of millions of dollars. The West

 

 

The Australian Financial Review

Page 1: Harbour Energy has pledged to invest to expand Santos’ east coast gas output as the US company seeks to win federal government approval for its latest $13.5 billion takeover tilt for the oil and gas producer in what would be the world’s biggest private equity deal in the sector.

Page 3: Australian Greens leader Richard Di Natale will today abandon the push for a price on carbon and demand the Reserve Bank of Australia enter the home mortgage market, in a major speech advocating greater government intervention.                                                   

Page 4: Malcolm Turnbull and Energy Minister Josh Frydenberg are staring down demands by rebel backbenchers that the government build a $4 billion socalled clean coal power station, saying the proposed National Energy Guarantee gives ample scope for the private sector to build such a facility should it want.

Page 5: German shipbuilder Luerssen and Perth-based listed shipbuilder Austal are locked in negotiations over what role, if any, the home-grown company will have when construction shifts to WA from 2020.

Page 8: Former deputy prime minister and diplomat Kim Beazley has been appointed Western Australia’s 33rd governor.

Page 9: Southern Cross Austereo head of regulatory affairs and corporate communications Creina Chapman has been appointed chief executive and deputy chairwoman of the Australian Communications and Media Authority.

Page 10: Australia’s peak scientific research agency, the CSIRO, has spent tens of millions of dollars upgrading its cyber security and information systems since a data breach linked to a Chinese national.

Page 11: Donald Trump’s top trade adviser and China hawk Peter Navarro has tried to quell market fears of an escalating tit-for-tat trade war, even as he accused Beijing of ‘‘throwing another punch’’ at America by imposing tariffs on US goods.

Page 13: Australian governments are holding almost $10 billion of mining companies’ cash and bonds, which insurers say could be freed up for further investment if a new approach to mine rehabilitation funding wins broader adoption from regulators and miners.

Blue Sky Alternative Investments is sticking by its claim that the company has $4 billion in fee-earning assets under management and has called US short-seller Glaucus’ report ‘‘materially misleading’’.

Page 17: Commonwealth Bank subsidiary Aussie Home Loans overwhelmingly favoured its owner’s mortgage products but sold under a number of different brands, according to data provided by the broker to the Hayne royal commission.

 

 

The Australian

Page 4: One of Australia’s most marginal seat-holders, Queensland Liberal MP Luke Howarth, has cautioned colleagues against seizing on Malcolm Turnbull’s self-declared “KPI’’ of 30-straight Newspolls trailing Labor.

Taxpayer support or a dramatic policy shift would be required to convince investors to build a new coal-fired power station in Australia, experts say.

Page 6: The Reserve Bank is concerned that a squeeze on short-term funding in the US is spilling over to Australian banks and may result in a de facto rate hike for Australian borrowers.

Page 19: The Reserve Bank has blamed the US for rising financial market volatility, singling out Donald Trump’s erratic trade policy and foreshadowing higher interest rates.

Page 21: French property behemoth Unibail-Rodamco expects to push through much of its €100 million ($160m) of cost savings within 18 months from its proposed $30 billion takeover of the Westfield shopping centre empire, according to the prospectus for the bid lodged in Paris and Amsterdam.

Page 22: Mongolia’s anti-corruption investigation into agreements around Rio Tinto’s $US11 billion ($14.3bn) Oyu Tolgoi copper and gold mine has stepped up dramatically, with the arrest of two former officials involved in negotiations and a widening of the probe to include the project’s 2015 financing deal.

Page 23: John Flavell, the chief executive of the nation’s largest network of mortgage brokers, Mortgage Choice, has unexpectedly quit his job, with the company convincing its chief financial officer — who resigned last month — to stay on and lead the group.

 

 

The West Australian

Page 1: Supermarket giant Woolworths has revealed that from June 20 single-use plastic bags will no longer be available instore — a move that brings forward the date by 10 days.

Page 6: A Perth property developer claims his $500 million Raine Square development in Perth’s CBD collapsed largely because Bankwest wrongly said it had twice run over budget during construction.

Page 14: In an Australian first, WA schools and TAFEs will offer automation courses in operating driverless trucks and trains.

Page 24: One-quarter of Australians work through their lunchbreak every day, amid concern about a workplace “culture” of not taking a spell.

Business: Dacian Gold’s Mt Morgans project near Laverton poured its maiden gold bar at the weekend, becoming the first of three new mid-sized WA gold mines expected to come online in the next 12 months.

Chinese-owned window furnishings provider Kresta Holdings has closed its WA manufacturing operations in favour of offshore production as it struggles to stay competitive.

The big banks’ decision to axe ATM withdrawal fees could have hastened the collapse of machine operator Stargroup, which has stranded trade creditors owed $7 million.

Property: Lacklustre demand for office space and strong competition for tenants has pushed landlords in Perth’s non-CBD markets to offer ready-to-go fit-outs and smaller tenancies.

DevWest has declared it is “super excited” to be the preferred bidder for a hotly contested 6300sqm Perth City Link site, Lot 10 north, an end development that will be worth hundreds of millions of dollars.

The existence of a restrictive Parliament House Precinct policy — last updated 35 years ago — and only recently rediscovered, almost derailed the $17 million plan to preserve significant elements of the heritage-listed former home of Edith Cowan, which will now become the entrance to a 13-storey apartment tower.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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