New tussle over State’s GST share
New tussle over State’s GST share
Treasurer Ben Wyatt says WA is facing a new GST battleground with the body that oversees the annual carveup flagging changes he warned would cost the State hundreds of millions of dollars in hard-fought gains. The West
$4.5b fertiliser plant closer
A $4.5 billion fertiliser plant in the Pilbara that could create more than 2000 construction jobs moved closer to reality yesterday when Perdaman Chemical and Fertilisers signed up 20 years of gas from Woodside. The West
‘Stunning’ Greatland gold find
The buzz around the Paterson Range province in Western Australia has gone up another notch, after an English company returned one of the most spectacular drill results to come out of Australia in recent memory. The Aus
Dexus says Kings Square almost full
In a dramatic reversal of fortune, Dexus has confirmed it has leased almost 90 per cent of the three Kings Square office buildings it bought from Leighton Properties, now Cimic Group, for $435 million in 2013. The West
Junk insurance refunds to exceed $1b
Banks and insurance companies could face more than $1 billion in refunds as a result of mis-selling worthless add-on insurance policies such as credit card and tyre and rim cover, a consumer advocacy group has warned. The Fin
Cooper & Oxley query ‘ridiculous’ $45m debt
Cooper & Oxley has hit back at reports its debts have blown out to $45 million, describing the figure as “ridiculous”. The West
Mining services ripe for M&A: EY
A buoyant resources sector is breathing life back into the mining services sector and could trigger a wave of exits from private equity players that have been holding equipment fleet and other mining services assets since the last boom, according to accounting firm EY. The Fin
Overkill risk for lending, warns RBA
Reserve Bank of Australia governor Philip Lowe has warned that scandals in the finance sector and flat real wage growth over the last six years are undermining the public’s confidence in important institutions, so trust must be restored to avoid a more damaging backlash against the economic and political system. The Fin
The Australian Financial Review
Page 1: Internet traffic heading to Australia was diverted via mainland China over a six-day period last year, in what some experts believe may have enabled a targeted data theft.
Reserve Bank of Australia governor Philip Lowe has warned that scandals in the finance sector and flat real wage growth over the last six years are undermining the public’s confidence in important institutions, so trust must be restored to avoid a more damaging backlash against the economic and political system.
Commonwealth Bank chairman Catherine Livingstone has dumped on the bank’s former board and executive team, saying there was an overwhelming sense of complacency that developed under the previous chairman which forced her to clean out the top brass and start afresh, the Hayne royal commission has heard.
Page 3: Prime Minister Scott Morrison estimated on Monday night that the new ‘‘bottom-up’’ system of setting the annual migration cap would result in a cut of about 30,000 to the annual cap of 190,000.
Page 4: The International Monetary Fund says Australia’s strong economic growth is expected to continue in the near term, gradually leading to an uptick in wages and inflation.
Page 5: Labor has received a late boost to its energy policy plans to be released on Thursday with the International Monetary Fund saying Australia needed policy certainty on emissions reduction.
Page 10: Banks and insurance companies could face more than $1 billion in refunds as a result of mis-selling worthless add-on insurance policies such as credit card and tyre and rim cover, a consumer advocacy group has warned.
Page 11: Australian grain industry leaders worried about China applying politically motivated trade sanctions for months but saw residue from glyphosate use as the most likely trigger for disruption in barley shipments worth billions of dollars.
Page 15: Fund manager Allan Gray has lambasted the Australian Securities Exchange for failing to protect the rights of investors after the stock exchange said it would not force a shareholder vote to approve the sale of AMP’s life assets.
Competitive Foods, the operator of 430 Hungry Jacks burger restaurants, lodged a 2017-18 financial report that showed profit after tax down a Whopper-sized 75 per cent, to $7.5 million from $30.5 million the year before.
Page 21: A buoyant resources sector is breathing life back into the mining services sector and could trigger a wave of exits from private equity players that have been holding equipment fleet and other mining services assets since the last boom, according to accounting firm EY.
The Australian
Page 2: Australia’s biggest fund managers are reaping $600 million in fee revenue every year off the country’s youngest savers, who have less than $6000 each in superannuation.
Page 19: Commonwealth Bank chief executive Matt Comyn came out swinging at his predecessor Ian Narev at the Hayne royal commission yesterday, as he conceded the scandal-prone bank failed its legal obligations and faced a potential blowout in customer remediation for junk insurance.
Domain chairman Nick Falloon has defended the online property listing group’s hefty sign-on deal to new chief executive Jason Pellegrino, which included a cash bonus of $500,000 and shares worth $2 million.
Page 20: The $3.8 billion Australian electricity infrastructure investor Spark Infrastructure could now be in the crosshairs of CK Infrastructure.
Page 21: BHP’s landmark $592 million settlement of its transfer pricing dispute with the Australian Taxation Office has taken it a step closer to unwinding its contentious dual-listed structure.
Page 22: Australia’s resurgent mid-tier miners need to change their culture to attract new talent and secure future growth, as interest from millennials wanes, according to a report from consultant PricewaterhouseCoopers.
The buzz around the Paterson Range province in Western Australia has gone up another notch, after an English company returned one of the most spectacular drill results to come out of Australia in recent memory.
The West Australian
Page 3: Treasurer Ben Wyatt says WA is facing a new GST battleground with the body that oversees the annual carveup flagging changes he warned would cost the State hundreds of millions of dollars in hard-fought gains.
Page 10: A $4.5 billion fertiliser plant in the Pilbara that could create more than 2000 construction jobs moved closer to reality yesterday when Perdaman Chemical and Fertilisers signed up 20 years of gas from Woodside.
Page 11: WA Labor’s State executive has backed an urgent motion to ban fracking in WA, adding further pressure on Premier Mark McGowan ahead of the release of a report on the controversial gas extraction method.
Business: Beleaguered wave power company Carnegie Clean Energy has arranged for $2 million of finance from director and former AFL chairman Mike Fitzpatrick to fund operations while it completes two projects to generate revenue.
Wesfarmers shares are expected to surrender more than a quarter of their value today as breakaway grocery business Coles rejoins the stockmarket trading boards after an 11-year absence.
Frustrated minority shareholders of Flinders Mines have again used the iron ore explorer’s annual meeting to grill its board and management over perceptions they are suppressing its share price and stalling its progress.
Property: Cooper & Oxley has hit back at reports its debts have blown out to $45 million, describing the figure as “ridiculous”.
In a dramatic reversal of fortune, Dexus has confirmed it has leased almost 90 per cent of the three Kings Square office buildings it bought from Leighton Properties, now Cimic Group, for $435 million in 2013.
The City of Fremantle has pledged to work with Yolk Property Group on a six-level timber commercial building.
Pindan Capital, the funds management arm of the Pindan construction company, has launched its first project finance deal in a bid to fill the funding gap imposed by wary banks on developers.
Just a week after opening the Peach Pit in the former Squire’s Fortune down the road on The Esplanade, ARK has emerged as the new owner of Scarborough Beach Bar.
