06/12/2018 - 06:55

Morning Headlines

06/12/2018 - 06:55

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Red tape risks holding up frackers until 2021

Morning Headlines

Red tape risks holding up frackers until 2021

A long delay setting up the approval process could amount to “banning fracking by stealth” because smaller companies can ill-afford the red tape, some parts of the oil and gas industry fear. The West

Barrick Gold loses $55m ‘land rich’ tax fight in High Court

Global mining giant Barrick Gold is liable for a $55 million stamp duty bill after a High Court decision that could affect landholder assessments across Australia. The Fin

EG buys Perth office for $12.5 million

Property fund manager EG has snapped up a two-level office building in Leederville, Perth, for $12.5 million as it strengthens its West Australian portfolio. The Fin

Tower blocked in South Perth

A tall, slender South Perth tower has been knocked back by the Metro Central Joint Development Assessment Panel because the City of South Perth’s planning framework is “broken”, the developer says. The West

Govt’s $240m shot for medical research

The Morrison government will today begin accepting applications for a $240 million program it describes as an “Australian-first” for medical research. The Aus

Weak wages a threat to Xmas sales

Business faces a testing Christmas trading period after softer consumer spending dragged down economic growth to its slowest quarterly pace in two years. The Fin

West African gets funds for Sanbrado

West African Resources has secured debt funding worth $US200 million ($278 million) to advance its ambitions at the high-grade Sanbrado gold project in Burkina Faso. The West

 

 

The Australian Financial Review

Page 1: Business faces a testing Christmas trading period after softer consumer spending dragged down economic growth to its slowest quarterly pace in two years.

AMP’s new chief executive, Francesco De Ferrari, will not back away from a controversial deal to sell the company’s life insurance arm, saying the wealth giant is unable to make sustainable profits while competing against larger overseas rivals.

Page 2: Global mining giant Barrick Gold is liable for a $55 million stamp duty bill after a High Court decision that could affect landholder assessments across Australia.

Page 3: The $50 billion Rest industry superannuation fund has disclosed it used a discount rate of 8.29 per cent to value its infrastructure assets last financial year, a drop from 8.43 per cent, in a move that lifted asset values.

Page 4: Powers enabling the forced divestment of energy companies could be law early next year after key crossbenchers sided with the government to rush the legislation though the lower house, sight unseen.

Page 5: Australia will be able to walk away from the $50 billion submarine contract if the French designer runs two years late in delivering the first boat or costs blow out by 25 per cent as the Defence Department takes a hard line during tense negotiations.

Page 15: Telstra chief executive Andy Penn has predicted customers will pay a premium to connect to the 5G mobile network, in an effort to reassure shareholders that the huge capital expenditure the telco is devoting to the emerging technology will be worthwhile.

Page 17: Rare earths producer Lynas must secure a new agreement with the Malaysian government before September next year or be forced to transport 400,000 tonnes of radioactive waste back to Australia.

Page 19: Global credit ratings agency Moody’s has warned of the potential for falling house prices to weigh on consumption habits, kicking off a vicious cycle of further weakness in the housing market and the broader economy.

Macquarie Bank, which is on track for another record year of profits, is set to cut rates for new property borrowers by half the amount it recently increased rates for existing borrowers.

Page 33: Property fund manager EG has snapped up a two-level office building in Leederville, Perth, for $12.5 million as it strengthens its West Australian portfolio. 

 

 

The Australian                                                                                                                          

Page 1: Former Newtown Jets rugby league player and teacher Chris Dawson’s one-time teenage lover and another ex-student who kept a diary about her schooldays on Sydney’s northern beaches will be key witnesses in his murder trial.

 West Australian Labor MP Pierre Yang, under fire for his links to pro-China groups, spent three months on a Chinese government vessel hunting for Malaysia Airlines flight MH370 that security experts suspect was spying on the Australian military.

Page 3: The bank accounts of the former chief of staff to NAB boss Andrew Thorburn have been frozen by the NSW Crime Commission as police investigate more than $110 million worth of corporate travel provided to the bank as part of a bribery investigation.

Page 17: The Australian sharemarket fought back from the brink of fresh two-year lows yesterday, as buyers cautiously supported the market after China said it would implement its trade agreements with the US.

Page 19: Australia’s fifth LNG import project has been proposed by a South Korean developer with a $US430 million ($586m) floating terminal at Newcastle Port amid a surprise fall in demand for gas use in the power grid.

The Morrison government will today begin accepting applications for a $240 million program it describes as an “Australian-first” for medical research.

Page 20: The multi-billion-dollar contract at the centre of the dispute between former MP Clive Palmer and his estranged Chinese business partners Citic was deliberately designed to evolve with the market, Mr Palmer’s lawyers have argued.

 

 

The West Australian

Page 4: Premier Mark McGowan says there was no need for Labor MP Pierre Yang to declare links to two Perth groups that actively promote the Chinese Government and its ruling Communist Party because the rules allow MPs to use their discretion.

Page 5: Social media trolls have been given a stern warning in the Supreme Court about online abuse after one of WA’s top racing stewards was awarded $140,000 in a defamation payout.

Page 16: A tall, slender South Perth tower has been knocked back by the Metro Central Joint Development Assessment Panel because the City of South Perth’s planning framework is “broken”, the developer says.

Business: A long delay setting up the approval process could amount to “banning fracking by stealth” because smaller companies can ill-afford the red tape, some parts of the oil and gas industry fear.

It remains reluctant to disclose what it is sitting on in the East Pilbara but mining giant Rio Tinto is spending more money to ensure better access.

Coolgardie Minerals boss Bradd Granville is hopeful a new geological theory has helped the listed junior unravel the secrets of the Bullabulling goldfield.

More than 6500 complaints have been received by a new financial dispute ombudsman in its first month of operation.

West African Resources has secured debt funding worth $US200 million ($278 million) to advance its ambitions at the high-grade Sanbrado gold 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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