Advara sale kicks off WA land titles process
Advara sale kicks off WA land titles process
The WA Treasury, headed by Treasurer Ben Wyatt, has started a tender process for an independent financial adviser to work on the potential sale of Advara. The Aus
Chinese underpin $42bn tourist cash splash
International tourists are spending more than ever while holidaying in Australia, forking out $42.3 billion over the past year, with growing numbers of Chinese visitors underpinning the trend. The Aus
Shrinking tax base to fall heavily on workers
Australia’s shrinking tax base – caused by fewer dollars collected through the GST, via self-funded retirees, and the emerging ‘‘sharing’’ economy – will worsen the load on income taxpayers, according to the Parliamentary Budget Office. The Fin
APRA backs banks over Hayne probe
The banking regulator has backed the banks’ right to make a profit and take enforcement action when borrowers can’t repay loans, in a powerful defence of the industry delivered to the Hayne royal commission. The Fin
Evolution deal extends life for Mungari gold
Evolution Mining is set to extend the life of its Mungari gold operation by at least two years after striking a deal with Norton Gold Fields to cancel its first rights to develop the Castle Hill gold deposit 25km to the north-west. The West
Funds back Brookfield’s $1bn venture
Global asset manager Brookfield will use its powerful new real estate vehicle to shake up the Australian office market, with the trust seeded by half stakes in $2.8 billion of the nation’s top office towers in the largest wholesale launch in more than a decade. The Aus
Alceon seeks new deals in retail space
Investment company Alceon Group is eyeing more retail acquisitions after outlaying more than $100 million over the past few years to emerge as one of Australia’s largest retail investors. The Fin
BHP tipped for biggest ever dividend
BHP Billiton has been tipped to pay its biggest dividend next month after stronger than expected production data sparked upgrades to earnings forecasts. The Fin
The Australian Financial Review
Page 1: The banking regulator has backed the banks’ right to make a profit and take enforcement action when borrowers can’t repay loans, in a powerful defence of the industry delivered to the Hayne royal commission.
Company tax cuts that have already been legislated for small and medium businesses could be fast-tracked as a fallback option should the government be unsuccessful in securing passage of the remainder of the package before the federal election.
BHP Billiton has been tipped to pay its biggest dividend next month after stronger than expected production data sparked upgrades to earnings forecasts.
Page 4: Australia’s shrinking tax base – caused by fewer dollars collected through the GST, via self-funded retirees, and the emerging ‘‘sharing’’ economy – will worsen the load on income taxpayers, according to the Parliamentary Budget Office.
Page 10: Investment in Australia’s fast-growing large-scale solar sector will only become riskier if the life of coal power stations is extended, adding to surplus generation that is expected to drag down wholesale prices, according to one of the world’s largest clean energy investors.
Page 17: Investment company Alceon Group is eyeing more retail acquisitions after outlaying more than $100 million over the past few years to emerge as one of Australia’s largest retail investors.
Page 18: Hostplus, with its rapidly expanding membership base, pulled clear of the pack to deliver 12.5 per cent for the year ended June 30, 2018.
Investors’ hunger for green bonds has pushed the Australian market for investments that achieve social or environmental goals, as well as financial returns, to $6 billion – a fourfold increase in less than three years.
Page 19: The global healthcare deal frenzy is set to continue for at least another 18 months as technology giants including Amazon, strategic players and private equity firms step up their fight for limited assets.
Page 20: CIMIC’s total equity position has dropped by more than $1 billion after the construction group applied new accounting standards and reported a 12 per cent increase in interim net profit to $363 million.
The Australian
Page 1: Big power users are close to winning a major concession on planned moves to force them to guarantee electricity supply in a crucial “circuit-breaker” that would remove one of the key industry objections to the government’s energy reform blueprint.
The European Union has hit Alphabet’s Google with a record antitrust fine of €4.34 billion ($6.9bn) and ordered changes to its business that could loosen the company’s grip on its biggest growth engine: mobile phones.
Page 2: International tourists are spending more than ever while holidaying in Australia, forking out $42.3 billion over the past year, with growing numbers of Chinese visitors underpinning the trend.
Page 6: Sharing economy giant Airbnb has mounted an attack on what it describes as “archaic” capital gains tax laws, directly appealing to Scott Morrison to change what it describes as “a lack of fairness” to budding Airbnb micro-entrepreneurs.
Page 17: Coles has been secretly working on a new small-store format codenamed Project 535 for the past two years, which will see the rollout of as many as 120 neighbourhood stores that fuse aspects of a convenience store with a full fresh and packaged grocery offer.
Page 18: The WA Treasury, headed by Treasurer Ben Wyatt, has started a tender process for an independent financial adviser to work on the potential sale of Advara.
Page 19: News Corp Australia has struck a commercial printing arrangement with Fairfax Media as part of a historic deal between the two publishers to tackle costs.
Page 23: Global asset manager Brookfield will use its powerful new real estate vehicle to shake up the Australian office market, with the trust seeded by half stakes in $2.8 billion of the nation’s top office towers in the largest wholesale launch in more than a decade.
The West Australian
Page 3: UNIQLO, the cool and quirky Japanese clothing brand with a devout global following, will open its first Perth store on August 30.
Former deputy prime minister Barnaby Joyce is set to cause another headache for the Federal Government, heading to WA to back farmers battling the growing threat to the live sheep trade.
Page 11: A University of WA software expert claims the My Health Record system is a waste of money and the opt-out scheme does nothing to allay concerns.
Page 16: Western Power’s bare-knuckle legal fight against the Perth Hills residents suing it over a 2014 bushfire was its way of trying to earn “immunity” from needing to take responsibility for the state of thousands of power poles on private land across WA, a court has been told.
Business: Evolution Mining is set to extend the life of its Mungari gold operation by at least two years after striking a deal with Norton Gold Fields to cancel its first rights to develop the Castle Hill gold deposit 25km to the north-west.
Northern Star Resources says it sees huge potential in its recently acquired South Kalgoorlie project and will spend a big portion of this year’s record $60 million exploration budget there.
Bankwest will not rule out local branch closures but says it has no plans for major changes to its WA network after savage cutbacks on the east coast.
