05/12/2018 - 06:41

Morning Headlines

05/12/2018 - 06:41

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Gold-hunt spending rockets

Morning Headlines

Gold-hunt spending rockets

Spending on gold exploration in WA hit a 30-year high in the September quarter, with $174 million spent on the search for the precious metal as the State’s overall exploration outlay climbed to its highest level in five years. The West

Nod for Nickel West’s Venus

BHP’s Nickel West division has pushed the button on the first of a pipeline of new mining developments in the northern Goldfields after the State Government signed off on its Venus underground nickel mine near Leinster. The West

PM retreats on energy ‘big stick’

The Morrison government has responded to backbench and industry anger by softening its proposed ‘‘big stick’’ laws to forcibly divest energy companies, but business remains hostile and there is no guarantee the laws will pass Parliament. The Fin

Subbies’ win irks MBA, CCF

The State Government’s decisive action to protect payments for builders, tradies and subcontractors — warmly embraced by Subcontractors WA — has been labelled as pre-emptive and potentially adding red tape by Master Builders WA and Civil Contractors Federation WA. The West

De Ceglie takes up The West

Walkley Award-winning journalist Anthony De Ceglie has been appointed senior editor of Kerry Stokes’ West Australian Newspapers and will take charge of the group’s flagship newspaper, The West Australian. The Aus

TPG facing millions in customer refunds

TPG Telecom is facing tens of millions of dollars in refunds and penalties after the Australian Competition and Consumer Commission revealed it was suing the telco giant for misleading customers. The Fin

MSWA in $4.7m Belmont move

MSWA, which supports West Australians living with neurological conditions, has bought a Belmont office and warehouse at 154 Abernethy Road for $4.7 million. The West

 

 

The Australian Financial Review

Page 1: The Morrison government has responded to backbench and industry anger by softening its proposed ‘‘big stick’’ laws to forcibly divest energy companies, but business remains hostile and there is no guarantee the laws will pass Parliament.

TPG Telecom is facing tens of millions of dollars in refunds and penalties after the Australian Competition and Consumer Commission revealed it was suing the telco giant for misleading customers.

Global insurance giant Allianz is believed to be the company willing to under write Australia’s east coast grain market for the next 25 years, as part of a $3.3 billion takeover bid for grain handler GrainCorp.

Page 3: Treasurer Josh Frydenberg says growing complexity in financial services has made it tough for customers to compare prices and products but ‘‘open banking’’ will help overcome this by ensuring banks present information in a standardised, simpler way under a policy that aims to facilitate account switching and stir competition.

Page 4: Police and intelligence agencies will be given new powers to monitor encrypted communications after the Coalition and Labor reached an agreement to pass controversial legislation yesterday.

Page 7: The Reserve Bank of Australia extended its record-breaking run of inaction on rates, keeping the official cash rate on hold for a 28th consecutive month ahead of data due on Wednesday that is expected to show the economy growing at an above-trend pace for another quarter.

Page 13: The launch of Amazon.com. au’s new retail offer a year ago has boosted the entire e-commerce market, according to global media and marketing company Mindshare, with overall online traffic (excluding Amazon) rising 9.9 per cent year-on-year between February and September – a turnaround from the 0.1 per cent decline in online traffic in the same period a year ago.

Page 16: Global mining companies now consider licence to operate the biggest risk to their businesses with the fight over the Adani coal mine and recent warnings from Rio Tinto highlighting the increased threat, according to EY.

 

 

The Australian                                                                                                                          

Page 2: The tariff war between China and the US has begun to impact global economic activity, amid a thawing in relations between the world’s two largest economies.

The Minerals Council of Australia has advised Scott Morrison to overhaul a biosecurity levy, attacked the impost as a straight “revenue-raising measure” and pushed for the impost to be removed from fuel, chemicals and cement products.

Page 19: Greg Combet, now one of the most powerful figures in the $2.7 trillion superannuation system, says he wants to advance the use of super in nation-building infrastructure such as the Melbourne airport rail project, and focus public policy back on fund members’ interests, after devastating evidence of bank and retail super fun rip-offs at the royal commission.

Page 20: Australian private equity powerhouse Pacific Equity Partners is understood to have enlisted investment bank Citi as part of its bid to buy iconic food business Arnott’s Biscuits, which may sell for up to $3 billion.

Page 22: Walkley Award-winning journalist Anthony De Ceglie has been appointed senior editor of Kerry StokesWest Australian Newspapers and will take charge of the group’s flagship newspaper, The West Australian.

 

 

The West Australian

Page 3: Australia will no longer export sheep to the Middle East during northern hemisphere summers after exporters agreed to impose a moratorium on shipments from June to August.

Page 9: A Labor MP has had to resign from two organisations in Perth amid claims they are fronts for the Chinese Government and its ruling Communist Party.

Business: BHP’s Nickel West division has pushed the button on the first of a pipeline of new mining developments in the northern Goldfields after the State Government signed off on its Venus underground nickel mine near Leinster.

A fledgling WA medical device company aiming to reduce repeat surgery for breast cancer is looking to raise $15 million from investors as it ramps up to commercialisation of its technology in the next three years.

Spending on gold exploration in WA hit a 30-year high in the September quarter, with $174 million spent on the search for the precious metal as the State’s overall exploration outlay climbed to its highest level in five years.

A Manjimup business has been chosen as one of two locations in the State to start exporting avocados to Japan, boosting an export industry already worth almost $2 million a year to the State.

Property: The State Government’s decisive action to protect payments for builders, tradies and subcontractors — warmly embraced by Subcontractors WA — has been labelled as pre-emptive and potentially adding red tape by Master Builders WA and Civil Contractors Federation WA.

It’s been afflicted by high vacancy and struggled to shake off its post-boom ghost town legacy but West Perth is being helped rediscover its mojo through Warrington Property’s audacious building renovation.

Iris Residential and Primewest are seeking feedback on their $140 million joint-venture mixed-use plan that will form the entrance statement to LandCorp’s Montario Quarter urban infill project in Shenton Park.

MSWA, which supports West Australians living with neurological conditions, has bought a Belmont office and warehouse at 154 Abernethy Road for $4.7 million.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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