11/04/2018 - 06:22

Morning Headlines

11/04/2018 - 06:22

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Morning Headlines

Mining creates strong demand

Perth office towers are starting to trade at a brisk pace as investors seek out the growth potential of the resources capital’s market and institutions drive more deals. The Aus

Cbus steps on the Bright side of renewables

Industry pension fund giant Cbus Super has taken the plunge into renewable energy, joining the green energy investment venture proposed last year by the Western Australian government to underpin the next wave of wind and solar generation in the state. The Fin

Etihad drops daily flights from Perth

In a major blow to WA’s tourism industry, Etihad Airways is withdrawing its daily Perth service. The West

MCA rejects investment perk proposal

In a retort to research published by the Melbourne Economic Forum that argues in favour of some kind of investment allowance over company tax cuts, the Minerals Council of Australia warned that such an approach would favour ‘‘machinery-intensive industries’’. The Fin

Coates looks again to WA

Coates Hire intends to invest $100 million in its WA operation over the next few years to beef up its offering in the local market. The West

MinRes deal boosts lithium exposure

Mineral Resources’ $280 million takeover of Atlas Iron will deliver the Chris Ellison-led group a royalty over Altura Mining’s Pilgangoora lithium mine, meaning MinRes will now have exposure to all three of the Pilbara’s most advanced lithium projects. The Aus

Call for air-con in animal ships

Federal Agriculture Minister David Littleproud is also considering live export ships sailing into the extreme heat of a Middle East summer being required to have air-conditioning — a move that would place big financial burdens on the industry. The West

NAB rocked by ‘fraud’

An alleged multimillion-dollar fraud involving a trusted NAB lieutenant and a key contractor worth millions of dollars has left executives at the highest level of the bank reeling after NSW police conducted raids on three Sydney premises early yesterday. The Fin

Leaders call on ASIC to explore Bux

Premier Mark McGowan and Federal Labor leader Bill Shorten have called on the corporate watchdog to investigate money transfer company Bux Global Limited as a matter of urgency. The West

Colombian court ruling hits South32

South32 may have to re-apply for its licence to run the Cerro Matoso nickel project in Columbia and is facing a hefty compensation bill after a court ruled that waste emissions from the mine and smelter had seriously affected neighbouring communities. The Fin

 

 

The Australian Financial Review

Page 1: An alleged multimillion-dollar fraud involving a trusted NAB lieutenant and a key contractor worth millions of dollars has left executives at the highest level of the bank reeling after NSW police conducted raids on three Sydney premises early yesterday.

Prime Minister Malcolm Turnbull has warned China against establishing a military base in the South Pacific because it would jeopardise regional peace, as hawkish government MPs and defence experts expressed alarm at the threat to Australia’s national security.

Page 3: The world’s housing markets have become remarkably synchronised, according to International Monetary Fund research that warns Australian property prices may be vulnerable to unexpected foreign shocks.

Page 4: In a retort to research published by the Melbourne Economic Forum that argues in favour of some kind of investment allowance over company tax cuts, the Minerals Council of Australia warned that such an approach would favour ‘‘machinery-intensive industries’’.

Page 5: Three-quarters of capital expenditure will be ineligible for Labor’s accelerated depreciation boost, which is reminiscent of ‘‘old economy’’ policies and draws arbitrary and possibly distortionary exemptions, Grattan Institute economist Jim Minifie says.

The party formerly known as the Nick Xenophon Team has renamed itself the Centre Alliance in a move aimed at prolonging its survival and expanding its parliamentary representation beyond South Australia.

Page 6: Global technology giant Apple has reached its goal of being powered by 100 per cent clean energy, but the company is holding fire on investing in any energy projects in Australia.

Page 9: Broad support for the government’s crackdown on foreign political donations remains in doubt despite agreement between the major parties in a parliamentary committee, with Labor stopping short of endorsing the plan and the Greens describing proposed changes as inadequate.

Page 13: Fresh from a visit to the global headquarters of Amazon and Microsoft in Seattle last week, National Australia Bank chief executive Andrew Thorburn says he is more certain than ever that banks face massive technological disruption, reinforcing the need for NAB to aggressively push ahead with a workforce automation project despite its promised cost savings being questioned by investors.

Page 15: South32 may have to re-apply for its licence to run the Cerro Matoso nickel project in Columbia and is facing a hefty compensation bill after a court ruled that waste emissions from the mine and smelter had seriously affected neighbouring communities.

Page 18: The board of ailing retailer Godfreys wants to get an independent valuation of the company and has urged shareholders to take no action on the takeover bid lobbed by 99-year-old major shareholder John Johnston.

Page 23: Industry pension fund giant Cbus Super has taken the plunge into renewable energy, joining the green energy investment venture proposed last year by the Western Australian government to underpin the next wave of wind and solar generation in the state.

 

 

The Australian

Page 1: Chinese President Xi Jinping has heralded a new wave of “openness”, pledging to allow foreign companies greater access to China’s financial and manufacturing sectors, and signalling lower tariffs on cars in a move to neutralise a damaging trade war with the US.

Josh Frydenberg has hardened his stand against further government support for any form of power generation, claiming the average Australian household already pays $60 a year to meet the Renewable Energy Target through subsidies that it is estimated will have cost between $20 billion and $30bn by 2030.

Page 2: The Australian Republic Movement is drawing heavily on last year’s successful same-sex marriage campaign as it prepares a massive digital and face-to-face push to convince voters to install an Australian as head of state.

Page 4: Liberal senator Dean Smith has backed Tony Abbott’s call for a reduction in Australia’s immigration, warning that the rapid population growth of the nation’s major cities should “raise alarm” about its impact on living standards.

Bill Shorten has defended his centrepiece election policy for Western Australia — a $1.6 billion infrastructure fund to compensate the state for its low GST share — despite modelling that shows the money could run out a year after a Labor government came to power.

Page 19: NBN Co’s push to use 5G technology to improve services over the National Broadband Network could reduce the billion-dollar windfall the Turnbull government is expecting from the upcoming 5G spectrum auction.

Page 21: Mineral Resources’ $280 million takeover of Atlas Iron will deliver the Chris Ellison-led group a royalty over Altura Mining’s Pilgangoora lithium mine, meaning MinRes will now have exposure to all three of the Pilbara’s most advanced lithium projects.

Page 22: Millennial-focused superannuation fund Spaceship and its trustee have been hit with fines after the corporate watchdog targeted the groups for misleading young savers with lacklustre investment options.

Page 24: Perth office towers are starting to trade at a brisk pace as investors seek out the growth potential of the resources capital’s market and institutions drive more deals.

 

 

The West Australian

Page 4: The Federal Government’s childcare overhaul could wreak “chaos” on family budgets, with many parents facing inconsistent payments week to week because of the new activity test, a peak industry body has warned.

Labor leader Bill Shorten has launched his party’s push to win back at the next Federal election the seat of Stirling, held by Human Services Minister Michael Keenan since 2004.

West Australians have again been left out in the cold as the national broadband network announces a major rejig of its rollout strategy.

Page 9: Federal Agriculture Minister David Littleproud is also considering live export ships sailing into the extreme heat of a Middle East summer being required to have air-conditioning — a move that would place big financial burdens on the industry.

Page 12: Australians were to learn overnight whether their personal information was among that stripped from Facebook, sold to a political data firm and used to influence elections.

Page 13: The National Union of Workers has stood down two Perth officials at the centre of a global social media scandal after they were linked to a fake Black Lives Matter Facebook page.

Page 15: In a major blow to WA’s tourism industry, Etihad Airways is withdrawing its daily Perth service.

Page 16: Almost $3 million of taxpayers’ money will be spent replacing glass at Perth Arena after concerns about the risks of panels exploding at the indoor stadium.

Page 17: Premier Mark McGowan and Federal Labor leader Bill Shorten have called on the corporate watchdog to investigate money transfer company Bux Global Limited as a matter of urgency.

Business: Quintis’ receivers are discussing selling company-owned plantations as part of their bid to recapitalise the sandalwood group.

The founder of oil and gas contractor Terrex Seismic says WA’s fracking moratorium is constraining development even of conventional onshore gas prospects.

Coates Hire intends to invest $100 million in its WA operation over the next few years to beef up its offering in the local market.

Property: Campus Perth will go head-to head with rival The Student Housing Company when the two Stirling Street student lodging towers throw open their doors at the start of next year.

Singaporean-backed private equity firm Redhill Partners has continued its Perth bargain hunting spree, picking up the vacant but recently refurbished 441 Murray Street for $22 million — a relatively steep discount from its $27 million June 2013 valuation.

Stockland has forked out $18 million for its first WA standalone medium-density housing development in Glendalough.

The City of Fremantle has decided to go it alone with the sale of its 2.5ha depot site, opposite the Fremantle public golf course, for a sustainable residential development.

LandCorp and Fini Group have made their Stage 1A Murdoch Health and Knowledge Precinct marriage official, allowing work to start .

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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