23/10/2018 - 06:54

Morning Headlines

23/10/2018 - 06:54

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Worley rides resources revival with $4.6b bid

Morning Headlines

Worley rides resources revival with $4.6b bid

WorleyParsons has underlined the rebound in Australia’s mining services sector by launching its biggest takeover, a $4.6 billion acquisition of the Jacobs Engineering Group’s energy, resources and chemicals business. The Fin

Coalition facing 25-seat rout after Turnbull Axing

Scott Morrison faces an epic challenge to restore confidence in his shattered government, with new polling analysis showing a collapse in support for the Coalition in every mainland state and across every demographic group since the leadership spill. The Aus

Moderates seek $1b for climate fund

Liberal moderates concerned at the Coalition’s lack of climate change policy are set to demand Scott Morrison revitalise the ailing direct action policy with a $1 billion injection into the Emissions Reduction Fund. The Fin

Record high pump prices leave Woolworths Petrol IPO up in air

Woolworths will decide by the end of October whether to press ahead with a $1.6 billion float of its fuel business amid fears decade-high petrol prices and a stoush between Coles and Viva Energy will dent potential investor demand. The Fin

Bellevue declares Viago deposit good as gold

Bellevue Gold managing director Steve Parsons has declared that its Viago deposit at the Bellevue gold mine near Leinster in the northern Goldfields is in “a league of its own”. The West

Domestic bookings lift Virgin profits

Aussies are booking more domestic flights, helping Virgin Australia rake in greater revenue despite a whack from higher jet fuel prices, the airline has revealed. The West

Macquarie scraps stockbroker commissions to tackle conflicts

Macquarie Group will scrap controversial commissions paid to stockbroking advisers, making it the first firm locally to undertake a wholesale shift after issues were. The Aus

 

 

The Australian Financial Review

Page 1: Liberal moderates concerned at the Coalition’s lack of climate change policy are set to demand Scott Morrison revitalise the ailing direct action policy with a $1 billion injection into the Emissions Reduction Fund.

WorleyParsons has underlined the rebound in Australia’s mining services sector by launching its biggest takeover, a $4.6 billion acquisition of the Jacobs Engineering Group’s energy, resources and chemicals business.

A big surge in funds under management has given the militant construction workers’ super fund Cbus plenty of clout in the real estate market and helped its property development arm achieve super-sized returns of 18.63 per cent this year.

Page 2: New book a warning on investing in Crown Seven West Media’s billionaire chairman Kerry Stokes came to the aid of James Packer in his darkest hour, briefly taking control of his personal affairs and convincing the casino mogul to leave the United States for Israel for the sake of his mental health.

Page 4: Lower House crossbencher Cathy McGowan has warned she could withdraw her support for the minority government should the Nationals dump their leader, Michael McCormack.

Page 6: An extra layer of uncertainty has been thrown over CK Group’s $13 billion takeover bid for APA Group after the likely Liberal loss in the Wentworth byelection.

Page 7: The Minerals Council’s approach to coal advocacy faces further change after its top coal policy official left the lobby group.

Page 8: Australia’s retirement system has gone backwards on global rankings because of changes to the age pension means test that were introduced by Scott Morrison when he was social services minister.

Page 10: A review has called for tougher fraud controls at the ATO in the wake of $144 million Plutus tax fraud, including regular rotation of staff and tougher background checks for job applicants.

Page 17: Woolworths will decide by the end of October whether to press ahead with a $1.6 billion float of its fuel business amid fears decade-high petrol prices and a stoush between Coles and Viva Energy will dent potential investor demand.

Page 19: ANZ Banking Group is refusing to pay Australia Post a new $22 million-a-year fee for access to its branches, on the basis it’s unfair by effectively requiring ANZ to subsidise its larger rivals, Commonwealth Bank and Westpac.

 

 

The Australian                                                                                                                          

Page 1: Scott Morrison faces an epic challenge to restore confidence in his shattered government, with new polling analysis showing a collapse in support for the Coalition in every mainland state and across every demographic group since the leadership spill.

Page 2: The Inspector-General of Taxation, Ali Noroozi, says the Australian Taxation Office should be allowed to rely on phone taps to levy tax bills and should be given more power to force banks to hand over information on investigative targets.

Page 5: Both the Family Court and lower level Federal Circuit Court have a backlog of about a year’s worth of family law cases and the delays are likely to continue at current resourcing levels, their annual reports reveal.

Page 7: The Liberal Party is in a race against time to raise millions for the federal election after the unsuccessful Wentworth campaign sucked another $1 million out of any fighting fund for the federal election.

Page 17: Macquarie Group will scrap controversial commissions paid to stockbroking advisers, making it the first firm locally to undertake a wholesale shift after issues were raised in David Murray’s financial system inquiry.

Page 18: Property Exchange Australia (PEXA) will look to raise about $750 million this week after it decided to list as a public company rather than pursue a trade sale.

Page 19: Flight Centre boss Graham Turner expects it will take at least six months for the company’s Australia-based leisure division to turn around, after admitting its poor performance compared with a year ago.

 

                                

The West Australian

Page 1: Thousands of foreign-born criminals will be deported under tough new measures that will save taxpayers hundreds of millions of dollars.

Page 3: Perth households have consumed five billion litres more water than forecast since July, prompting authorities to urge people to cut back on water use.

Page 7: The Perth’s Pathway to Prosperity report, released today, found that the mining and resources boom had diverted attention from planning for longer-term economic resilience.

Page 10: Scott Morrison pledged to keep institutions “on the hook” for child sexual abuse as he made yesterday’s historic apology to victims, amid calls for churches and charities that fail to take responsibility to be stripped of their tax-exempt status.

Business: Bellevue Gold managing director Steve Parsons has declared that its Viago deposit at the Bellevue gold mine near Leinster in the northern Goldfields is in “a league of its own”.

Aussies are booking more domestic flights, helping Virgin Australia rake in greater revenue despite a whack from higher jet fuel prices, the airline has revealed.

Cash Converters will pay more than $16 million to settle one of two class actions by Queensland borrowers who alleged they were charged annual interest rates exceeding 600 per cent.

Rod Jones’ co-founders in takeover target Navitas have urged the university pathways education company to open its books to a bidding consortium backed by the former chief executive.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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