13/06/2018 - 06:09

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13/06/2018 - 06:09

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Shorten ups GST pledge to woo WA

Shorten ups GST pledge to woo WA

Opposition Leader Bill Shorten will today throw an extra $400 million at WA while pledging to match Prime Minister Malcolm Turnbull’s $3.2 billion infrastructure splurge in a bid to woo voters. The West

WA economy on road to recovery

The State Chamber of Commerce and Industry, in a report into the WA economy to be released today, has upgraded its forecasts for economic growth in large part because of the lift in confidence among consumers and parts of the business sector. The West

Investor loans drop to six-year low as credit curbs bite

New investor home loans fell to their lowest level in more than six years in April, as credit curbs started biting into home-building as well as to purchases of established stock, official figures showed. The Fin

MinRes buys Koolyanobbing

Billionaire Chris Ellison last night emerged as a white knight for workers at the Koolyanobbing mine and Esperance port after his company Mineral Resources bought the Yilgarn iron ore project that its American owner was going to close. The West

Kim vows to denuke Korea

Donald Trump and Kim Jong-un have committed to end the nuclear stand-off on the Korean Peninsula after signing a four-point plan in which North Korea commits to ‘‘complete denuclearisation’’ in exchange for US security guarantees following a historic meeting between the two leaders. The Fin

Huawei set to win contract despite security concerns

The Australian Financial Review understands Huawei will shortly be awarded the $120 million contract to provide a new 4G communications system for Perth’s metropolitan rail system. The Fin

Construct 360 disputes raise subbie concerns

Subcontractors WA has raised concerns about the welfare of several local subcontractors that worked on a $4.3 million Port Hedland project that was completed in March. The West

Lester swoops on WA in $20.5m deal

WA-based property syndicator and developer Lester Group has made a triumphant return to its home State with its first WA-based investment in five years, paying Vikas Rambal’s Perdaman Industrial Properties $20.5 million for a Forrestfield property. The West

Spurned Goldfields suitor looks to sell stake over ‘dumb’ Finsure deal

Firstmac, the largest shareholder of Goldfields Money, is considering selling out of the challenger bank and is seeking its own banking licence after failing to snare Goldfields last year. The Fin

The Agency forced to raise $1.1m

West Australian-based The Agency Group has been forced to secure a $1.1 million loan to bolster working capital while simultaneously extending the timeframe for its acquisition of its east coast agency Top Level until at least mid-October. The Aus

Ex-Shell veteran joins Rio as CFO

Rio Tinto has named former Royal Dutch Shell and Maersk executive Jakob Stausholm as its next chief financial officer, ending a long search for a replacement for the incumbent Chris Lynch. The Fin

Unlockd forced into administration

Unlockd, which delivers targeted advertising to users when they unlock their smartphones, has been locked in a do-or-die legal struggle since April with Google, which forced the company to shelve its planned IPO.. The Aus

 

 

The Australian Financial Review

Page 1: Donald Trump and Kim Jong-un have committed to end the nuclear stand-off on the Korean Peninsula after signing a four-point plan in which North Korea commits to ‘‘complete denuclearisation’’ in exchange for US security guarantees following a historic meeting between the two leaders.

Page 2: New investor home loans fell to their lowest level in more than six years in April, as credit curbs started biting into home-building as well as to purchases of established stock, official figures showed.

Page 3: The big four banks have hardened their stance and continued to push back against allegations of misconduct in small business lending, making only the smallest of concessions of wrongdoing in submissions to the Hayne royal commission.

Page 6: A move within the Nationals for the party to broaden its appeal beyond its traditional rural base will receive another push on Wednesday when Veterans Affairs Minister Darren Chester uses a National Press Club address to advocate change.

Page 7: The Australian Financial Review understands Huawei will shortly be awarded the $120 million contract to provide a new 4G communications system for Perth’s metropolitan rail system.

Page 8: Energy companies are resisting the Australian Energy Market Operator’s campaign for new powers to deal with unexpected generator outages and weather-induced demand surges following last week’s near miss in the NSW grid.

Page 9: The Department of Home Affairs ended a two-year $17.6 million project with consultants Accenture a year early because it ‘‘had not been satisfied with the performance’’ of the firm, according to an audit report.

Page 13: Virgin Australia chief executive John Borghetti’s ‘‘exceptional’’ leadership turning around the airline group hasn’t paid off for investors because of the listed company’s shareholder structure, according to a prominent fund manager.

Page 15: Caltex Australia has managed to more than offset a drop in refining earnings and higher convenience store costs to forecast a 4 per cent increase in benchmark profit for the June half, slightly ahead of market expectations.

Rio Tinto has named former Royal Dutch Shell and Maersk executive Jakob Stausholm as its next chief financial officer, ending a long search for a replacement for the incumbent Chris Lynch.

Page 16: A backlash against hefty surge-pricing by ridesharing firms such as Uber and increasing confidence in the turnaround strategy of chief executive Andrew Skelton has driven a 30 per cent two-month rise in Cabcharge’s share price.

Page 17: Firstmac, the largest shareholder of Goldfields Money, is considering selling out of the challenger bank and is seeking its own banking licence after failing to snare Goldfields last year.

Page 29: Lendlease has expanded its urban renewal pipeline in Britain to more than $20 billion, purchasing The Silvertown Partnership in London’s East End with hotelier Starwood Capital.

 

 

The Australian

Page 1: Australia is examining how it can assist in verifying North Korea’s progress towards denuclearisation, with the Turnbull government last night welcoming the historic deal with “cautious optimism”.

Students are rushing into university information technology courses, pushing up the number of new starters by 22 per cent in a year, according to the latest federal government figures.

Page 2: The government has confirmed it made no attempt to factor in behavioural changes when estimating the cost to revenue of its seven-year income tax cut plan, suggesting the official $144 billion figure is a wildly inaccurate overestimate.

Page 4: The Fair Work Ombudsman has launched legal action against Foodora Australia, alleging the delivery company underpaid workers and misrepresented casual employees as independent contractors.

Chinese billionaire Chau Chak Wing says he had no idea he had been named using an alias as an alleged co-conspirator in a major US investigation into the bribery of a UN official until he was called by a journalist from Fairfax Media several weeks later, a court has heard.

Page 8: State-run public hospitals are spending tens of millions of dollars a year on insurance excess payments for patients to bill the much larger cost of treatment to their health fund.

Page 20: Unlockd, which delivers targeted advertising to users when they unlock their smartphones, has been locked in a do-or-die legal struggle since April with Google, which forced the company to shelve its planned IPO.

Page 22: Blue Sky Alternative Investments has foreshadowed a hit of almost $60 million to its annual net profit, and another cut to fee-earning assets under management, from an ongoing review of its businesses and balance sheet.

Page 26: West Australian-based The Agency Group has been forced to secure a $1.1 million loan to bolster working capital while simultaneously extending the timeframe for its acquisition of its east coast agency Top Level until at least mid-October.

 

 

The West Australian

Page 3: Opposition Leader Bill Shorten will today throw an extra $400 million at WA while pledging to match Prime Minister Malcolm Turnbull’s $3.2 billion infrastructure splurge in a bid to woo voters.

Page 10: Projections show the median house price would be $2.48 million by 2043, up from the current $488,000.

Page 11: Mark McGowan has foreshadowed sweeping restrictions on the sale of plastic products, which he has described as the “enemy of the Earth”.

Page 16: The State Chamber of Commerce and Industry, in a report into the WA economy to be released today, has upgraded its forecasts for economic growth in large part because of the lift in confidence among consumers and parts of the business sector.

Business: Billionaire Chris Ellison last night emerged as a white knight for workers at the Koolyanobbing mine and Esperance port after his company Mineral Resources bought the Yilgarn iron ore project that its American owner was going to close.

SRG boss David Macgeorge says the creation of a $305 million Perth-based contracting group by merging with Global Construction Services is not just a cost-saving exercise.

Premier Mark McGowan has panned floating gas processing technology as “unsuited” to the State as he ramped up efforts to use major untapped fields off WA’s north to backfill existing onshore plants.

Making the resources sector relevant and appealing to young people distracted by technology and the latest trends will be a key focus for new WA Chamber of Minerals and Energy boss Paul Everingham.

Property: Subcontractors WA has raised concerns about the welfare of several local subcontractors that worked on a $4.3 million Port Hedland project that was completed in March.

The Metropolitan Redevelopment Authority has reviewed its decision to knockback 3 Oceans $450 million Iconic Scarborough proposal.

WA-based property syndicator and developer Lester Group has made a triumphant return to its home State with its first WA-based investment in five years, paying Vikas Rambal’s Perdaman Industrial Properties $20.5 million for a Forrestfield property.

Gary Garside’s Watersun Group has decided to offload its campus-style Burswood office complex, anticipated to fetch up to $45 million because of its virtually limitless potential for use as a hotel, hospital, nursing home, educational facility or mixed-use and building heights of 18 levels.

Plans for a $60.7 million upgrade of Carillon City are likely to be approved tomorrow — apart from the design for the famous bells.

Development industry advocate UDIA WA is urging the State Government to offer more support to local governments needing help.

A townhouse project designed to widen the range of housing choice at Port Coogee has attracted so much interest the developer is looking to fast track the next stage.

 

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