Morning Headlines

Wednesday, 22 August, 2018 - 06:51

Dutton’s push gathers pace

Peter Dutton flagged immigration curbs and did not rule out walking away from the Paris climate change targets as his core supporters moved to force a second leadership ballot this week by resigning en masse from the frontbench last night. The Fin

Leadership turmoil slashes $20bn from ASX

Investors wiped almost $20 billion off the sharemarket after a leadership spill in the federal Coalition exposed a lack of unity that could increase the chance of a Labor victory. The Aus

Live sheep exporter stripped of licence

Australia’s biggest live sheep exporter, Emanuel Exports, has been stripped of its export licence after an investigation of a series of disastrous voyages to the Middle East. The West

Borrowers told to plan for rate hikes

Reserve Bank of Australia governor Philip Lowe has underscored that interest rates in Australia will rise, ‘‘at some point’’, and urged borrowers to get their house in order to prepare for higher interest expenses. The Fin

BHP thinks twice about Nickel West divestment

Nickel West is set to remain in the BHP fold for now after chief executive Andrew Mackenzie poured cold water on rumours of an imminent sale. The West

Jones exit muddies WA planning reform timetable

A radical overhaul of WA’s planning system has been thrown into disarray after the abrupt exit of independent reviewer Evan Jones this month. The West

Scam’ fallout lands on health boss’s desk

West Australian Health Department boss David Russell-Weisz has been asked to explain how bureaucrats were able to carry out an “abhorrent and elaborate scam” in which companies took them to lunch and flew them around the world in return for government contracts. The Aus

MinRes favours SubiXO HQ

Chris Ellison’s Mineral Resources is believed to have entered into an early agreement to lease Dradgin’s A-grade 10,500sqm office building at 500 Hay Street, Subiaco. The West

 

 

The Australian Financial Review

Page 1: Peter Dutton flagged immigration curbs and did not rule out walking away from the Paris climate change targets as his core supporters moved to force a second leadership ballot this week by resigning en masse from the frontbench last night.

Page 2: The Australian Securities and Investments Commission was alarmed to learn that National Australia Bank knew it had a big problem with charging fees for no service for 11 months before it informed the regulator.

Page 3: Reserve Bank of Australia governor Philip Lowe has underscored that interest rates in Australia will rise, ‘‘at some point’’, and urged borrowers to get their house in order to prepare for higher interest expenses.

Page 4: Malcolm Turnbull has ruled out calling a snap election to stave off another leadership challenge from rival Peter Dutton.

Page 10: A Westpac financial adviser who gave poor advice to customers stood to gain thousands of dollars per customer in commissions for recommending BT super and insurance products, according to latest court documents.

Page 13: Healthscope is seeking a co-investor for a $1 billion unlisted property trust to hold its hospital properties, which the country’s second-largest private hospital operator says will release capital and preserve its operational flexibility.

Page 15: Oil Search has signalled that its new venture in Alaska’s North Slope region could be at least 50 per cent bigger than the 500 million barrels it had estimated, indicating the largely overlooked asset could be a much more valuable part of its portfolio than many are assuming.

Page 17: Waste management company Bingo Industries has acquired Dial A Dump Industries for $578 million to add extra muscle to take on heavyweights including multinational players Veolia and Suez and ASX-listed Cleanaway in a fiercely competitive sector where scale is becoming increasingly important.

Page 19: Seven West Media chief executive Tim Worner has flagged potential for deeper ties with News Corp following a proposed merger between Fairfax Media and Nine Entertainment.

Page 20: Engineering group Monadelphous is forecasting lower construction revenues during the next 12 months despite a positive long-term view on activity in the resources sector.

WorleyParsons has been awarded a one year contract extension to provide engineering, procurement and construction management services to support the assets of the North West Shelf project for Woodside.

 

 

The Australian                                                                                                                          

Page 2: Onerous staff-to-child ratios could be scrapped and childcare worker qualifications relaxed, after a Senate report questioned the evidence for stringent regulation of the childcare industry.

Page 5: Attorney-General Christian Porter is firming as the favourite to take over from Peter Dutton in the Home Affairs super portfolio, with Finance Minister Mathias Cormann also said to be in contention for the role.

Page 6: Key crossbencher Bob Katter has lost faith in Malcolm Turnbull and confirmed he would enter into talks with Peter Dutton on supply and confidence if the former home affairs minister took the top job.

Page 11: West Australian Health Department boss David Russell-Weisz has been asked to explain how bureaucrats were able to carry out an “abhorrent and elaborate scam” in which companies took them to lunch and flew them around the world in return for government contracts.

Page 19: Investors wiped almost $20 billion off the sharemarket after a leadership spill in the federal Coalition exposed a lack of unity that could increase the chance of a Labor victory.

Page 20: Speculation about a tie-up between TPG Telecom and Vodafone Australia has resurfaced in the form of market suggestions that investment bankers at UBS and Macquarie Capital could be busy working on the mooted transaction.

Page 23: Treasurer Scott Morrison has handed the competition watchdog a seven-year mandate to monitor electricity prices with a directive to investigate whether integrated electricity generators and retailers are restricting competition and new entrants.

Page 30: The West Australian government has moved to stem the drift of international students to other states that resulted from its plan to limit skilled migration.

 

 

The West Australian

Page 3: Australia’s biggest live sheep exporter, Emanuel Exports, has been stripped of its export licence after an investigation of a series of disastrous voyages to the Middle East.

Page 9: Scammers targeting Perth camera stores have ripped off close to $80,000 worth of equipment in the past month, a Perth business owner says.

Future big State Government projects will consider offering compensation, free advertising and counselling for small business owners to keep them afloat when construction threatens their livelihood.

Business: Nickel West is set to remain in the BHP fold for now after chief executive Andrew Mackenzie poured cold water on rumours of an imminent sale.

A prominent Sydney fund manager is driving a new attempt to unlock the mystery behind WA gold miner Tribune Resources’ major foreign shareholders.

Shares in Tanzanian graphite play Black Rock Mining were placed in a trading halt yesterday ahead of what is expected to be a $2.5 million raising.

Embattled pig farmers have dismissed the competition watchdog’s suspicions that they might be collaborating to cut stock numbers in the face of a glut in the pork market.

Resurgent mining equipment provider Emeco Holdings has posted its first annual profit in five years.

Property: A radical overhaul of WA’s planning system has been thrown into disarray after the abrupt exit of independent reviewer Evan Jones this month.

Chris Ellison’s Mineral Resources is believed to have entered into an early agreement to lease Dradgin’s A-grade 10,500sqm office building at 500 Hay Street, Subiaco.

GDI Property Group has unveiled plans for a pipeline of Perth projects including an $18 million bespoke 3300sqm office building alongside its A-grade Westralia Square.

Barwon Investment Partners, a Sydney-based, unlisted fund manager specialising in health care and alternative investments, is making its first foray west, funding the $20.5 million development of a Hillarys healthcare complex.