Morning Headlines

Friday, 19 October, 2018 - 06:51

Gas players in rare alliance

Woodside may move Chevron’s gas through its Pluto platform in a rare example of collaboration among LNG giants that could ease the way for the Perth-based company to approve its $US20.5 billion Browse project in 2020. The West

Labor to back GST overhaul

It is understood shadow treasurer Chris Bowen will recommend to Labor’s shadow cabinet that the GST legislation, which was introduced in Parliament yesterday, be approved. The West

Oxford’s $3.4bn deal wins Investa

The $6 billion wave of takeovers ripping through the listed property sector may not be over yet, although investors warned the peak was approaching for commercial assets, as Oxford Properties Group yesterday won the fiercely contested battle for the Investa Office Fund. The Aus

Rising food prices to stoke CPI

Production cost increases from drought-driven crop shortages, rising fuel prices and the weaker dollar are flowing through into higher prices for consumer staples such as bread, chicken and cheese that in turn adds to the household cost-of-living squeeze from electricity bills and housing prices. The Fin

South32’s solid quarter

South32 has posted a solid firstquarter production report, with nickel, manganese and coking coal coming in ahead of expectations, while thermal coal, alumina and thermal coal missing. The Aus

Nationals split over leadership

The Nationals have split into three camps over their leadership but there is a growing expectation the issue will come to a head at the end of this month when Parliament sits for the last two weeks before Christmas. The Fin

Georgiou heralds comeback with $3.5m profit

Georgiou Group chairman John Georgiou’s predictions of better times ahead have been realised with the family-owned construction business reporting a $3.5 million profit after tax for the year to June 30. The West

Galaxy still bullish on Sal de Vida

Galaxy Resources boss Anthony Tse says the company is accelerating plans to develop its $US376 million Sal de Vida brine project in Argentina. The West

 

 

The Australian Financial Review

Page1: Production cost increases from drought-driven crop shortages, rising fuel prices and the weaker dollar are flowing through into higher prices for consumer staples such as bread, chicken and cheese that in turn adds to the household cost-of-living squeeze from electricity bills and housing prices.

Page 2: Former ABC managing director Michelle Guthrie has lodged an adverse action claim against the public broadcaster following her sacking by the board last month.

Page 3: The corporate regulator will investigate Commonwealth Bank of Australia’s so-called Dollarmites Club as part of a broader review into school banking programs in primary schools, amid concerns these are more about deposit gathering than educating children about financial literacy.

Page 4: The Nationals have split into three camps over their leadership but there is a growing expectation the issue will come to a head at the end of this month when Parliament sits for the last two weeks before Christmas.

Page 5: Leading independent Kerryn Phelps will use a win in Saturday’s Wentworth byelection to secure a five-year freeze on changes to superannuation and oppose Labor’s abolition of franking credit refunds in Parliament.

Page 7: Industrial Relations Minister Kelly O’Dwyer has intervened in a Federal Court test case, in a bid to offset the impact of a major court precedent that grants ‘‘regular’’ casuals annual leave.

Page 13: China is expected to confirm on Friday that its economic growth has eased to its slowest pace since the global financial crisis, even though the full force of Donald Trump’s trade tariffs will not be felt until next year.

Page 15: Afterpay should be treated as a lender and should be subject to responsible lending laws, a peak consumer advocacy group has said, as the Senate prepares to look into the buy-now-paylater sector.

Treasury Wines is on track to achieve its target of 25 per cent profit growth, as it continues with its strategy of holding back some of its top-end wines from the market to ensure a more consistent performance.

Page 17: Mr Coleman raised the possibility of Woodside investing only in the offshore gas production part of Sunrise, leaving investment in the riskier onshore plant in Timor to others.

Higher prices and a lift in production have propelled a 10 per cent rise in sales in a third quarter for Santos that was deemed ‘‘strong’’ by analysts and which confirms the oil and gas producer’s financial recovery from its battering during the worst of the oil price crash.

 

 

The Australian                                                                                                                          

Page 1: The Reserve Bank’s full employment target has been reached more than two years ahead of forecast after the jobless rate fell to its lowest point since 2011, raising the possibility of interest rate hikes earlier than expected.

Kerryn Phelps has left open the prospect of voting against the government in a motion of no confidence if she wins Malcolm Turnbull’s former seat of Wentworth tomorrow.

Page 17: The nation’s banks are looking down the barrel at a further remediation bill of up to $6 billion for potential breaches of their responsible lending obligations if house prices continue their downward spiral and fall 15-20 per cent from their peak, according to a report.

The $6 billion wave of takeovers ripping through the listed property sector may not be over yet, although investors warned the peak was approaching for commercial assets, as Oxford Properties Group yesterday won the fiercely contested battle for the Investa Office Fund.

Woodside Petroleum has lifted its oil price outlook to $US70-$US80 a barrel as global supplies tighten, but chief executive Peter Coleman says crude is unlikely to head back to $US100 a barrel.

Page 20: South32 has posted a solid firstquarter production report, with nickel, manganese and coking coal coming in ahead of expectations, while thermal coal, alumina and thermal coal missing.

 

                                

The West Australian

Page 6: National unions head Sally McManus has urged the State Government to back industrial manslaughter laws that could have company bosses sent to jail for the death of a worker.

Page 9: It is understood shadow treasurer Chris Bowen will recommend to Labor’s shadow cabinet that the GST legislation, which was introduced in Parliament yesterday, be approved.

Business: Woodside may move Chevron’s gas through its Pluto platform in a rare example of collaboration among LNG giants that could ease the way for the Perth-based company to approve its $US20.5 billion Browse project in 2020.

WA grain growers could face higher regulatory costs on their bulk grain storage and handling after a review of the Wheat Port Code recommended it be extended to other grains.

Georgiou Group chairman John Georgiou’s predictions of better times ahead have been realised with the family-owned construction business reporting a $3.5 million profit after tax for the year to June 30.

Galaxy Resources boss Anthony Tse says the company is accelerating plans to develop its $US376 million Sal de Vida brine project in Argentina.