25/10/2018 - 06:55

Morning Headlines

25/10/2018 - 06:55

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Future Fund selling $850m in assets

Morning Headlines

Future Fund selling $850m in assets

The Future Fund will sell a 50 per cent share in Lakeside Joondalup regional shopping centre in Perth for about $650 million while a 25 per cent stake in the Harbour Town Gold Coast has already been quietly sold off to Lendlease for $180 million, reflecting a yield of less than 5 per cent. The Fin

$19b in property loans breach new rules

There has been an 85 per cent, or $9 billion, increase in loans approved by lenders that fall outside their own tough new lending criteria, with the major banks the biggest offenders, according to analysis by the prudential regulator. The Fin

BHP backs Scarborough project

BHP oil and gas chief Steve Pastor says the big miner is excited about the $US11 billion Scarborough gas project off Western Australia as a way to help arrest BHP’s declining petroleum production and is aligned with operating partner Woodside Petroleum’s plans to develop it. The Aus

Climate the burning issue for directors

Climate change has emerged as the top concern inside the boardrooms of corporate Australia, new data shows, as directors also warn that the Morrison government’s performance is hurting consumer confidence. The Aus

Labor rejects ‘big stick’ on energy

Labor will side with business and oppose the government granting itself powers to force the divestment of energy companies, arguing it is an ad hoc move which would have no impact on power prices and only serve as an investment risk. The Fin

Hancock loses appeal against costs

Gina Rinehart’s Hancock Prospecting is on the hook for millions of dollars in legal costs to the heirs of Lang Hancock’s business partner, Peter Wright, after the latest court ruling in its failed fight for control of half of the Rhodes Ridge iron ore deposit in the Pilbara. The West

Treasury in warning on savings raid

Treasury has warned that Australians will be forced to raid their savings accounts over the coming year to counter record-low wage growth and rising costs of living, leaving them more vulnerable to economic shocks. The Aus

 

 

The Australian Financial Review

Page 1: Labor will side with business and oppose the government granting itself powers to force the divestment of energy companies, arguing it is an ad hoc move which would have no impact on power prices and only serve as an investment risk.

Page 3: Money manager IFM Investors has approved $2.2 billion in loans to Australian companies and plans to lift its exposure to private corporate debt about 25 per cent over the next year.

Page 4: Falling rates of school students choosing to study Asian languages is leaving Australian graduates at a strategic disadvantage for jobs and opportunities, Labor has warned.

Page 6: AGL Energy could see its earnings slashed by up to 16 per cent, with Origin Energy faring little better with a reduction of up to 12 per cent, according to investment analysts crunching the numbers on the potential impact of the government’s demands for ‘‘sizeable’’ cuts in electricity tariffs.

Page 8: The Australian Securities and Investments Commission’s $35 million victory against Westpac looks likely to be short-lived, after a court heard the settlement was rushed and failed to articulate how the bank had breached responsible lending laws.

Page 10: More than 80 per cent of directors support the proposed tougher penalties for corporate misconduct in a sign that boards realise poor behaviour needs to be punished severely if companies are to win back the community trust.

Page 11: Tax Commissioner Chris Jordan has defended the ATO’s record with small business, telling Parliament he wants a reset with the sector after years of criticism.

Page 17: Andrew Forrest-backed Australian Industrial Energy has declared cautious interest in the government’s mechanism to underwrite new ondemand power stations.

Page 18: Private equity giant KKR & Co is set to take a 20 per cent stake in Australian made cancer and cardiac care company GenesisCare.

Page 21: There has been an 85 per cent, or $9 billion, increase in loans approved by lenders that fall outside their own tough new lending criteria, with the major banks the biggest offenders, according to analysis by the prudential regulator.

Page 28: The colourful career of controversial Romanian-Australian mining tycoon Frank Timis has taken another twist, with a London appeals court upholding a £2 million ($3.7 million) penalty against him over the ousting of the whistle-blowing chief executive of his Perth-based company, International Petroleum (IOP).

Page 38: The Future Fund will sell a 50 per cent share in Lakeside Joondalup regional shopping centre in Perth for about $650 million while a 25 per cent stake in the Harbour Town Gold Coast has already been quietly sold off to Lendlease for $180 million, reflecting a yield of less than 5 per cent.

Page 41: Just under 20 per cent of Perth residential developer Finbar’s shareholders voted against the adoption of its remuneration report at its annual meeting on Tuesday.

Page 47: The well-known ‘‘Peter Cook Pharmacy’’ on Wanneroo Road, Tuart Hill in Perth has changed hands at $2.7 million after 40 years in the same ownership.

 

 

The Australian                                                                                                                          

Page 1: Treasury has warned that Australians will be forced to raid their savings accounts over the coming year to counter record-low wage growth and rising costs of living, leaving them more vulnerable to economic shocks.

Page 7: Barnaby Joyce has backed Nationals deputy leader Bridget McKenzie for the lower house seat of Indi against Cathy McGowan two days after his public falling out with the high-profile independent MP.

Page 17: Climate change has emerged as the top concern inside the boardrooms of corporate Australia, new data shows, as directors also warn that the Morrison government’s performance is hurting consumer confidence.

Page 18: Woolworths is understood to have pushed back until next year its initial public offering plans for its $2 billion petrol stations division as markets remain volatile and Viva Energy continues to trade below its IPO price.

Page 19: Healthscope shareholders, unhappy that directors denied suitors due diligence on previous bids, could lodge protest votes at the annual meeting in an attempt to force the board to open the company’s dataroom to private equity bidder BGH Capital.

Page 20: BHP oil and gas chief Steve Pastor says the big miner is excited about the $US11 billion Scarborough gas project off Western Australia as a way to help arrest BHP’s declining petroleum production and is aligned with operating partner Woodside Petroleum’s plans to develop it.

Page 21: The tax office has admitted it failed to apply the law and allowed businesses to skirt any penalty for failing to pay employees’ superannuation.

 

                                

The West Australian

Page 1: The State Government is facing calls for a safety audit of all public infrastructure on Rottnest after part of a jetty collapsed yesterday, injuring three people and throwing them into the ocean.

Page 3: The cheque is not even in the mail and Federal politicians from both sides have found ways to spend the extra $4.7 billion that will flow to WA under the Government’s GST deal.

Page 8: Appointing Barnaby Joyce and Tony Abbott as special envoys for drought and Aboriginal affairs will cost taxpayers up to $465,000 in salaries alone, with the former leaders given extra staff.

Page 16: Staff at the one of Perth’s biggest health services have been warned to tighten their belts in the wake of $77 million in overspending.

Business: Telstra chief executive Andrew Penn estimates about 10 per cent of internet users may choose to use next-generation mobile technology as an alternative to the National Broadband Network.

After more than a decade-long research and breeding program led by Department of Primary Industries and Regional Development, the new pasture species Lanza tedera, which thrives in dry conditions, was revealed yesterday.

Gina Rinehart’s Hancock Prospecting is on the hook for millions of dollars in legal costs to the heirs of Lang Hancock’s business partner, Peter Wright, after the latest court ruling in its failed fight for control of half of the Rhodes Ridge iron ore deposit in the Pilbara.

Junior nickel companies bring mothballed mines back online within two years if growing nickel demand translates into higher prices, according to a senior resources analyst.

Aurora Labs will work with Fortescue Metals Group to demonstrate the application of its three-dimensional metal printing technology to mining.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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