28/11/2018 - 06:49

Morning Headlines

28/11/2018 - 06:49

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Earlier return to fiscal surplusv

Morning Headlines

Earlier return to fiscal surplus

Scott Morrison has rolled the dice on an election victory in May next year, underpinned by an early federal budget that will predict a return to surplus in 2019-20, a year sooner than forecast. The Fin

Council cops blast for tall tower limits

Sirona Capital managing director Matthew McNeilly was responding to the council’s move to reject a 42-storey, $110 million apartment development opposite Perth Zoo because it is too high. The West

Wilkins drops AMP fees bombshell

AMP chief executive Mike Wilkins has admitted the embattled company may be sitting on another time-bomb after launching an internal investigation to review fees and services charged to corporate super clients, the Hayne royal commission has heard. The Fin

Woolies’ WA home-shop plan

Woolworths has revealed it is working on plans for a retail and commercial project — including a residential component — on the White Sands Tavern site in Scarborough. The West

Fracking decision a blow to Forrest

Andrew Forrest’s ambition to build a gas industry in Western Australia’s Kimberley region has been dealt a major blow after the state’s government introduced new fracking regulations. The Aus

Saracen predicts more to come after gold discovery

Saracen Minerals boss Raleigh Finlayson is more convinced than ever there is a lot more gold to be found in Australia after promising discoveries on the doorstep of the company’s existing Carosue Dam operations. The Fin

Deserter fuels Coalition chaos

Scott Morrison’s pre-election legislative agenda is in disarray after Victorian MP Julia Banks quit the Liberal Party and defected to the crossbench, aiding Bill Shorten’s attempts to destabilise the minority government and target Home Affairs Minister Peter Dutton. The Aus

 

 

The Australian Financial Review

Page 1: Scott Morrison has rolled the dice on an election victory in May next year, underpinned by an early federal budget that will predict a return to surplus in 2019-20, a year sooner than forecast.

AMP chief executive Mike Wilkins has admitted the embattled company may be sitting on another time-bomb after launching an internal investigation to review fees and services charged to corporate super clients, the Hayne royal commission has heard.

RCR Tomlinson’s board hired McGrathNicol to undertake ‘‘contingency planning’’ for a potential voluntary administration on August 14, just two weeks before the troubled engineering group raised $100 million from investors.

Page 2: Federal Labor has seized on analysis showing the Morrison government’s planned immigration cuts would lower house prices, after Treasurer Josh Frydenberg said Labor’s negative gearing changes would make every Australian home worth less.

Page 3: A senior manager of Plutus Payroll has admitted to his involvement in a conspiracy that allegedly defrauded the tax office of more than $130 million.

Australian motorists are enjoying the lowest petrol prices in eight months as Brent crude oil prices dropped below US$60 for the first time in a year, but pundits are divided as to whether the low prices will last past Christmas.

Page 7: Business owners shirking employee obligations could face new international travel bans under proposals to designate the Tax Office as a criminal law enforcement agency.

Page 15: Global investor Brookfield Asset Management has singled out Australia’s murky and uncertain energy policy as a major deterrent to future investment in the sector after completing the successful $US2.15 billion ($2.96 billion) sale of Western Australian gas producer Quadrant Energy to Santos.

Page 16: Saracen Minerals boss Raleigh Finlayson is more convinced than ever there is a lot more gold to be found in Australia after promising discoveries on the doorstep of the company’s existing Carosue Dam operations.

The oil and gas industry has blasted a move by Western Australia to permanently ban fracking from all but a tiny part of the vast state after an independent scientific inquiry commission by the Labor government found the risk to people and the environment was low.

The merger of Fairfax Media and Nine Entertainment has passed its final hurdle following approval of the deal in Federal Court despite attempts to scuttle the union by former Domain boss Antony Catalano and Aurora Funds Management.

Page 18: Temple & Webster is defying the downturn in the housing market, clocking up 39 per cent sales growth in the first few months of the 2018-19 year as consumers shift from buying furniture and homewares in stores to online.

Page 29: Local and international institutional investors have flooded into one of fund manager Charter Hall’s largest raisings, a $600 million collection that will help drive activity by its flagship industrial fund.

           

 

The Australian                                                                                                                          

Page 1: Scott Morrison’s pre-election legislative agenda is in disarray after Victorian MP Julia Banks quit the Liberal Party and defected to the crossbench, aiding Bill Shorten’s attempts to destabilise the minority government and target Home Affairs Minister Peter Dutton.

Page 2: NAB chairman Ken Henry said the bank’s board should have cut executive bonuses earlier in response to a wave of scandal sweeping the bank that included charging fees to the dead.

Page 20: Further asset sales appear to be in the planning stage at the troubled Retail Food Group with its Hudson Pacific bakery arm thought to be on offer through insolvency firm KordaMentha.

Page 21: Packaging manufacturer Pro-Pac, which is backed by Melbourne billionaire Raphael Geminder and chaired by former Australia Post boss Ahmed Fahour, suffered another setback after its boss quit a day after issuing a profit downgrade.

Page 22: Andrew Forrest’s ambition to build a gas industry in Western Australia’s Kimberley region has been dealt a major blow after the state’s government introduced new fracking regulations.

Page 24: Rare-earths miner Lynas says it will temporarily shut down production at its Malaysian neodymium-praseodymium (NdPr) plant next month because political volatility means it has not received approval to increase volume.

 

 

The West Australian

Page 6: Sirona Capital managing director Matthew McNeilly was responding to the council’s move to reject a 42-storey, $110 million apartment development opposite Perth Zoo because it is too high.

Page 9: The Federal Government has waded into the WA shopping hours debate, saying Premier Mark McGowan’s Christmas trading restrictions will rob workers of $350.

Page 18: Uber will be hit with a $1 billion lawsuit from taxi drivers across the country, who have accused the international giant of taking their livelihoods.

Business: Carnegie Clean Energy will be given until February to come up with funds to complete its flagship Albany wave project before the development is potentially given to another player.

An Albany-based premium beef operation will become the first wagyu producer in the State to export its genetics.

Harvey Norman shareholders have delivered a first strike against the company’s board during a tense annual general meeting at which a bullish Gerry Harvey declared critics of the retailer “totally friggen mad”.

New products and accounts have helped D’Orsogna increase its annual profits by more than 30 per cent as the smallgoods producer moves to double output.

Property: Woolworths has revealed it is working on plans for a retail and commercial project — including a residential component — on the White Sands Tavern site in Scarborough.

Ingot Hotel Perth, the revamped Comfort Inn Bel Eyre Perth, will open on Saturday after a $50 million renovation.

A Malaga office-warehousefactory has sold off market for $3.73 million.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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