22/06/2018 - 06:27

Morning Headlines

22/06/2018 - 06:27

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$1bn hit on Ramsay as private patients opt out

Morning Headlines

$1bn hit on Ramsay as private patients opt out

The head of Australia’s largest private hospital group has sounded a warning on the healthcare system, as rising costs and concerns about affordability cause patient numbers to drop, including a 12 per cent fall in maternity cases last month alone. The Aus

WA unions target poll to head off land registry sale

The cash-strapped Labor government in Western Australia is under mounting pressure from unions and within the party to abandon plans to sell the state’s land registry. The Fin

Hanson gives WA GST pledge

Pauline Hanson has vowed to push for a "fair and just" GST distribution, even if backing colleague Peter Georgiou's campaign for a better outcome for WA disadvantages her home State of Queensland. The West

Porter claims WA missing in action on Forrest fix

Attorney-General Christian Porter has hit back at the West Australian government after being accused of blindsiding it over legislative changes needed to validate hundreds of mining leases thrown into legal limbo by a High Court ruling involving Andrew Forrest. The Fin

FWO loses bid to impose record fine against MUA

The workplace watchdog has lost a test case to fine the Maritime Union of Australia more than $3.5 million over illegal strikes that allegedly caused Hutchison Ports more than $600,000 in losses. The Fin

Infrastructure surge to offset residential cooling: Fletcher

Fletcher Building chief executive Ross Taylor expects the broader residential construction market to shrink marginally in 2019 and 2020 because of falling demand for apartments as he unveiled ambitious plans to double profit margins from Fletcher’s Australian building products operations by 2023. The Fin

200 jobs go in caravan sale

Up to 200 jobs will disappear at Fleetwood’s caravan-making facility in Perth when it closes this year under a loss-making sale of the more than 50-year-old business. The West

Brookfield’s $700m bid opens Gateway fight

A bidding war is under way for budget housing provider Gateway Lifestyle after Brookfield Property Group lobbed a $699 million takeover offer, pipping an earlier proposal from Hometown America. The Fin

Disney, Fox agree on $97bn merger

Walt Disney has raised its offer to purchase most of 21st Century Fox to more than $US71.3 billion ($96.8bn) in cash and stock, which Fox says “is superior to the proposal” made by Comcast earlier this month. The Aus

 

 

The Australian Financial Review

Page 5: Australia’s housing slump could prove short-lived, according to a report from CoreLogic and Moody’s, with solid employment growth, loose monetary policy, decelerating supply and easing of some controls on lending helping to lift prices across the country after this year’s shallow dip.

Page 7: Government relations firms simply providing advice to foreign principals won’t have to register under the proposed foreign influence transparency scheme unless they are lobbying politicians, running communications campaigns or spending money on their behalf to secure policy changes.

Page 8: The workplace watchdog has lost a test case to fine the Maritime Union of Australia more than $3.5 million over illegal strikes that allegedly caused Hutchison Ports more than $600,000 in losses.

Electric cars could match the driving range of petrol and diesel cars by 2024 and have their batteries ‘‘filled up’’ in just five minutes at superchargers, says a new report that also suggests sales could take off in three years with only moderate support.

Page 10: Attorney-General Christian Porter has hit back at the West Australian government after being accused of blindsiding it over legislative changes needed to validate hundreds of mining leases thrown into legal limbo by a High Court ruling involving Andrew Forrest.

Page 12: ASX-listed companies with high carbon exposures – such as Whitehaven Coal, Yancoal and New Hope Group – will have to ramp up their climate risk disclosures from the brief mentions in past financial statements.

Page 13: The cash-strapped Labor government in Western Australia is under mounting pressure from unions and within the party to abandon plans to sell the state’s land registry.

Page 17: Fletcher Building chief executive Ross Taylor expects the broader residential construction market to shrink marginally in 2019 and 2020 because of falling demand for apartments as he unveiled ambitious plans to double profit margins from Fletcher’s Australian building products operations by 2023.

Page 19: Telstra’s bearish earnings guidance means investors are in for more pain before the embattled telco’s ambitious turnaround plan reignites earnings growth, analysts warn.

APN Outdoor’s board was expected to reject a $1.1 billion approach from JCDecaux when it met on Thursday night, as some shareholders said the French giant would need to pay more to secure its sector rival.

Page 22: The board of Atlas Iron has wasted no time in recommending shareholders take Gina Rinehart’s money in the form of a $390 million takeover offer for the junior iron ore miner.

Page 27: BP has turned its focus to sealing an alliance with a supermarket in Australia to grow its retailing business after walking away from its proposed $1.8 billion purchase of Woolworths’ network of petrol stations.

Page 34: APN Property will vote against Blackstone’s $3.1 billion buyout offer for Investa Office Fund, a bid, it said, which does not fully recognise the value of the takeover target’s portfolio.

A bidding war is under way for budget housing provider Gateway Lifestyle after Brookfield Property Group lobbed a $699 million takeover offer, pipping an earlier proposal from Hometown America.

 

 

The Australian

Page 1: Malcolm Turnbull secured the most significant tax reform since the GST when the Senate passed $144 billion in personal income tax cuts for 10 million Australians but the Prime Minister faces a new battle in the Senate next week over company tax cuts.

The head of Australia’s largest private hospital group has sounded a warning on the healthcare system, as rising costs and concerns about affordability cause patient numbers to drop, including a 12 per cent fall in maternity cases last month alone.

Page 3: Westpac and its entities are making tens of millions of dollars a year by forcing the owners of hundreds of thousands of superannuation accounts to invest in a product paying returns less than one-sixth of market rates.

Page 6: Coalition MPs are urging Malcolm Turnbull to intervene in the energy market as they sound the alarm on the ability of the national energy guarantee to win support in the regions or reduce power bills for businesses.

Page 7: Tax has become a defining issue in the Super Saturday by-elections, particularly in marginal Braddon and Longman, where candidates yesterday seized on the passage of the tax cuts to win over undecided voters.

Education Minister Simon Birmingham faces an uphill battle selling a proposed solution to anomalies in non-government school funding, with the powerful independent schools lobby calling for changes to be delayed.

Page 9: Australian farmers are watching the escalating trade war between the United States and China nervously, with growing fears Australian food and fibre exports could get caught in the crossfire.

Page 19: The Australian Energy Market Operator has effectively declared the east coast gas crisis is over in a new report that forecasts no looming shortage of domestic supply for the next decade and turns recent forecasts on their head.

Page 24: Walt Disney has raised its offer to purchase most of 21st Century Fox to more than $US71.3 billion ($96.8bn) in cash and stock, which Fox says “is superior to the proposal” made by Comcast earlier this month.

Page 25: Real estate services firm Cushman & Wakefield has filed preliminary plans for an initial public offering in the US, hoping to cash in on the nine-year bull market in the commercial real estate industry

 

 

The West Australian

Page 1: Pauline Hanson has vowed to push for a "fair and just" GST distribution, even if backing colleague Peter Georgiou's campaign for a better outcome for WA disadvantages her home State of Queensland.

Page 5: A revolt looms over a proposed animal and plant pest-control charge for residents in parts of the Perth Hills and the South West after at least two councils said they would not hand over ratepayers’ information to the State Government.

Page 11: WA’s population is growing at its fastest pace in three years as the mass migration of residents to other parts of the country abates and locals swell Perth to more than two million residents.

Business: Up to 200 jobs will disappear at Fleetwood’s caravan-making facility in Perth when it closes this year under a loss-making sale of the more than 50-year-old business.

WA Defence Issues Minister Paul Papalia has added Civmec’s name to the mix of Australian shipbuilders that could play a role in the $35 billion frigate program.

Commonwealth Bank has had its $25 million settlement with the corporate regulator over claims of bank bill swap rate manipulation approved by the Federal Court.

Aspiring potash producer Kalium Lakes has signed a term sheet with German chemical giant K+S to supply 100 per cent of product from stage one of its flagship Beyondie sulphate of potash project, 160km south-east of Newman.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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