Morning Headlines

Tuesday, 14 August, 2018 - 06:54

Coalition shies from taking tax cut to voters

The federal government is no longer committing to taking any unlegislated company tax cuts to the next election. The Fin

Carnarvon dives over 34pc

Carnarvon Petroleum shares fell 34.7 per cent after the latest results from its Phoenix South-3 well off Western Australia raised doubts whether the field can flow at commercial rates. The Fin

Senator wants oil, gas firms to show value

Oil and gas companies would have to reveal the value of resources as well as the expected tax and profits they hoped to pay under a plan One Nation hopes to use to ramp up pressure on the resources sector. The West

Cash boost for landcare projects

Seven WA landcare groups will share in $41 million as part of the Federal Government’s $450 million national landcare program. The West

The Agency delays $10m raising again

Cash-strapped listed real estate agents The Agency has negotiated another two-month extension to secure funding to acquire East Coast operator Top Level Real Estate. The Fin

JB Hi-Fi chief upbeat on Amazon challenge as annual profit hits $233m

JB Hi-Fi chief executive Richard Murray said the consumer electronics and home appliances retailer was confident it could attract shoppers with an array of offers and products that would take the fight to Amazon and its new Amazon Prime service. The Aus

Pop-up restrictions bittersweet for bars

A crackdown on Perth’s pop-up bars has been cautiously welcomed as a “step in the right direction” but criticised for not going far enough. The West

 

 

The Australian Financial Review

Page 1: The Australian dollar has been swept up in the turmoil triggered by Turkey’s economic crisis, falling to an 18-month low, after fears of an all-out emerging markets crunch rippled through markets on Monday and caused a sell-off in Asian equities.

Some of the shine was taken off National Australia Bank’s executive team, but they were far from tarnished after the bank’s chief customer officer, Andrew Hagger, returned to the Hayne royal commission yesterday to answer questions about who knew what and when about the bank’s overcharging scandal.

Page 3: The a2 Milk Company will extend its lucrative arrangement with a massive state-owned agricultural company to sell powdered infant formula into China, in a deal that shows trade ties have remained strong despite the well-documented diplomatic differences between Canberra and Beijing.

Page 4: The Economic Impact of the Group of Eight Universities shows that in 2016 the total economic impact of the sandstone universities was $66.43 billion.

Page 5: The federal government is no longer committing to taking any unlegislated company tax cuts to the next election.

Page 6: Indigenous Australians have been failed by the superannuation system with balances that are 23 per cent lower than non-Indigenous Australians and balances at

retirement that are 46 per cent lower than what is needed for a comfortable retirement.

Page 8: Telcos, internet companies and device manufacturers that refuse to facilitate access to secret data for terrorism investigations face fines of up to $10 million, under new laws to be revealed on Tuesday.

Page 11: BlueScope Steel is eyeing a potential $960 million expansion of its North Star steel mill in the United States after delivering its best annual profit since 2005.

Page 14: Carnarvon Petroleum shares fell 34.7 per cent after the latest results from its Phoenix South-3 well off Western Australia raised doubts whether the field can flow at commercial rates.

Page 32: The real estate principal investment arm of Macquarie Capital has bought a 50 per cent stake in Investa Office Management Holdings, which manages the property of the $3.1 billion takeover target Investa Office Fund.

Cash-strapped listed real estate agents The Agency has negotiated another two-month extension to secure funding to acquire East Coast operator Top Level Real Estate.

 

The Australian                                                                                                                          

Page 1: One of Australia’s leading energy companies has flagged plans to enter a partnership with specialised Japanese or Chinese developers to build a “clean-coal” power plant within five years if Malcolm Turnbull’s energy reform blueprint is implemented.                                       

Meat prices are poised to surge in the next few months as the horrific NSW and western Queensland drought cuts through the nation’s cattle herd and soaring feed prices and shortages of hay force farmers to destock their properties.                                                                   

Page 2: A split within cabinet is looming over euthanasia, prompting several senior ministers to warn that the issue threatens Malcolm Turnbull with a repeat of last year’s bitter divisions inside the Coalition party room over same-sex marriage.                                               

China’s Huawei will build Papua New Guinea’s domestic internet network, and connect it to an Australian-funded international internet cable.                                                                               

Page 17: The high cost of gas may force heavy industry to shut down and prolong suffering among consumers unless Australia frees up fresh gas supplies and adopts the national energy guarantee, Dow Chemical has warned.                                                                                                 

JB Hi-Fi chief executive Richard Murray said the consumer electronics and home appliances retailer was confident it could attract shoppers with an array of offers and products that would take the fight to Amazon and its new Amazon Prime service.                                                                                   

Page 19: Domain recorded a net loss after tax of $6.2 million for the year to June 24, compared with a net profit of $30.3m in the previous corresponding period.

 

The West Australian

Page 1: A trial of new shark drum line technology will be conducted along the WA coast after the State Government reconsidered its stand on the catch, tag and release strategy already under way in northern NSW.

Page 4: Seven WA landcare groups will share in $41 million as part of the Federal Government’s $450 million national landcare program.

Page 7: A crackdown on Perth’s pop-up bars has been cautiously welcomed as a “step in the right direction” but criticised for not going far enough.

Page 9: Perth households spend almost $18,000 every year travelling around the city — with the cost jumping nearly $25 each month.

Business: Oil and gas companies would have to reveal the value of resources as well as the expected tax and profits they hoped to pay under a plan One Nation hopes to use to ramp up pressure on the resources sector.

The Australian Manufacturing Workers’ Union has called on Premier Mark McGowan to pressure BHP into reconsidering the award of major steel work linked to its next Pilbara iron ore mine to a Chinese company.

Oil and gas producer Woodside Petroleum’s push into hydrogen fuel has led to it calling for the Federal Government to mandate a percentage of government car fleets be electric or zeroemission vehicles.

Michael Fotios’ struggling Eastern Goldfields must pay contractor GR Engineering Services $8.25 million under a settlement of a gold project dispute.

A Californian court finding that a Monsanto weedkiller caused cancer in a school groundskeeper sent shares in the Australian maker of a similar product, Nufarm, tumbling to a more than two-year low yesterday.