25/09/2018 - 06:56

Morning Headlines

25/09/2018 - 06:56

Bookmark

Save articles for future reference.

‘Devastated’ Michelle Guthrie threatens to sue

Morning Headlines

‘Devastated’ Michelle Guthrie threatens to sue

ABC chairman Justin Milne and the broadcaster’s board were concerned that managing director Michelle Guthrie wasn’t committed to an ambitious and expensive plan to store the nation’s television and radio heritage into a giant, public electronic library. The Fin

Big banks’ systems not ready for open banking: APRA

The prudential regulator is worried banks have spent too little maintaining computer systems, which could lead to more IT outages further eroding trust in the financial system, and warned them to boost investment spending. The Fin

Wesfarmers eyes $50m WA Coles sale

Wesfarmers has put a $50 million portfolio of two Coles supermarkets and a Coles petrol station in regional Western Australia up for sale ahead a proposed demerger of Coles from its parent later this year. The Fin

Business seeks new deal on casuals

Employers have applied to the Fair Work Commission to create a new “perma-flexi” employee category across highly casualised industries, in a bid to circumvent a precedent-setting court ruling they fear could cost business billions of dollars. The Aus

Hold-out in Regis bid for Capricorn

Trans-Atlantic private equity fund Hawke’s Point has emerged as a blocker in Regis Resources $85 million takeover attempt of Pilbara gold hopeful Capricorn Metals. The West

Coalition picks spend over surplus

The Morrison government is sticking to its plan, for now, to reach a budget balance in 2019-20, rather than race to an early surplus. The Fin

Barrick Gold to buy Randgold Resources in $US18b deal

Randgold Resources said on Monday it agreed to the terms of a recommended share-forshare merger with Canada’s Barrick Gold in a deal worth $US18.3 billion ($25.2 billion). The Fin

 

 

The Australian Financial Review

Page 1: ABC chairman Justin Milne and the broadcaster’s board were concerned that managing director Michelle Guthrie wasn’t committed to an ambitious and expensive plan to store the nation’s television and radio heritage into a giant, public electronic library.

The Morrison government is sticking to its plan, for now, to reach a budget balance in 2019-20, rather than race to an early surplus.

Lynas Corporation shares have plunged more than 18 per cent on speculation that the new Malaysian government of Mahathir Mohamad had ordered a review of environmental issues over its rare earths refinery by a long-time anti-Lynas campaigner.

Page 2: The prudential regulator is worried banks have spent too little maintaining computer systems, which could lead to more IT outages further eroding trust in the financial system, and warned them to boost investment spending.

Page 3: AustralianSuper chief executive Ian Silk has denied telling a senior executive to drop his complaints over conflicts in the fund’s investment decisions, instead claiming he told the executive to either stop harbouring ‘‘hard feelings’’ or quit.

Page 4: Labor’s plan to scrap cash refunds for excess franking credits is facing fresh criticism, with new economic modelling finding it was the equivalent of slashing the balance of the average superannuation fund by up to 9 per cent.

Page 6: A union proposal to legislate staffing ratios in aged care to combat neglect could hit the industry with almost $5 billion in extra costs, a new analysis shows.

Page 10: China is flouting agreements with Australia, the US and Germany not to steal intellectual property, becoming emboldened to hack into companies’ computer systems because of a collective failure to punish Beijing, a new report warns.

Page 12: Randgold Resources said on Monday it agreed to the terms of a recommended share-forshare merger with Canada’s Barrick Gold in a deal worth $US18.3 billion ($25.2 billion).

Page 13: Coking coal markets will have a price ‘‘floor’’ of about $US170 per tonne for the next three years, according to the private equity coal play, Coronado Global Resources, which has invited Australian investors to spend up to $1.39 billion backing the second largest float of the year.

Page 15: APA Group chief executive Mick McCormack could walk away with about $10 million should CK Group’s $13 billion takeover of the gas pipeline owner go ahead, after revelations his termination payments have been understated in the annual report for the past five years.

South32 has claimed a qualified victory in its battle to overturn a Colombian court ruling that said its nickel mine there was making local communities sick, with parts of the original decision overturned on appeal.

Page 16: Westpac Group, the nation’s secondlargest lender, is giving risky property investors less than a month to find another lender amid growing concerns about the impact of rising rates, falling values and oversupply.

Page 18: Youth fashion chain Universal Store is ramping up plans for new stores and online retailing following a $100 million management buyout backed by three of Australia’s most successful private equity investors – Brett Blundy’s BB Retail Capital, Trent Peterson’s Catalyst Direct Capital Management and Adrian MacKenzie’s Five V Capital.

Page 34: Wesfarmers has put a $50 million portfolio of two Coles supermarkets and a Coles petrol station in regional Western Australia up for sale ahead a proposed demerger of Coles from its parent later this year.

 

 

The Australian                                                                                                                          

Page 1: Employers have applied to the Fair Work Commission to create a new “perma-flexi” employee category across highly casualised industries, in a bid to circumvent a precedent-setting court ruling they fear could cost business billions of dollars.

Page 5: The ABC board has invited David Anderson, currently the director, entertainment & specialist, responsible for broadcast television networks and associated services, radio music networks, podcasts and specialist radio content, to serve as acting managing director until the role is filled permanently.

Page 17: Senior business and political leaders have urged the government to stay away from the emerging fight between China and the US and to continue to push for an open trade system.

Australian and US coking coal miner Coronado Coal is hoping to tap investor reticence to invest in power station coal as it pursues a $4.6 billion float on the Australian stock exchange next month.

Page 18: Australian agrochemicals business Nufarm is believed to be on the verge of embarking on an equity raising worth up to $500 million through investment bank UBS — tipped to be announced when it reports its full-year results tomorrow.

 

 

The West Australian

Page 3: A shark barrier at Cottesloe beach is back on the agenda amid concerns local businesses are suffering because of public anxiety over shark attacks.

Page 16: The right to park a pair of luxury cars outside one of Perth’s poshest hotels has sparked a spat between management and the city council.

Page 18: Workers building the underground rail line from Forrestfield to Perth Airport are trying to stop water flowing into one of the tunnels.

Business: IXL, the century-old jam brand which briefly adorned the country’s biggest company, has its third owner in 30 years after being sold by fruit canner SPC to an Australian investment firm.

Trans-Atlantic private equity fund Hawke’s Point has emerged as a blocker in Regis Resources $85 million takeover attempt of Pilbara gold hopeful Capricorn Metals.

WA’s hopes of delivering a record grain harvest this year have been shattered following widespread frosts two weekends ago, and dry September conditions which mean crops are still waiting for vital finishing rains.

The WA dairy industry wants retailers and processors to end $1/litre milk by extending recent national efforts to increase prices 10¢ a litre to provide relief for drought-hit Eastern States farmers.

Shares in one-time renewable energy favourite Carnegie Wave Energy were hammered yesterday after delays to State funding ahead of a meeting today that will determine the sale of its remote power arm, EMC.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options