30/01/2019 - 06:11

Morning Headlines

30/01/2019 - 06:11

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Red alert on train deal

Morning Headlines

Red alert on train deal

Criminal charges laid in the US against Chinese technology giant Huawei could scuttle a $136 million 4G rail network communications contract awarded to the company by the State Government. The West

Tax judgement sets BHP back $82m

BHP faces a new $82 million tax bill after a judgment in the full Federal Court that takes the total payout related to the miner’s Singapore marketing arm to more than $611 million. The Fin

Airbnb plea for new-age rules

Room-sharing site Airbnb has fired a broadside in the escalating WA tourism wars, calling on the State Government to put in place Statewide rules to see off a push to prevent holiday areas like Margaret River and Broome from using the service. The West

PM’s tax-break move a win for small business

Scott Morrison has further extended the small business instant asset write-off tax break, and increased the threshold to $25,000, in a bid to keep Australian companies investing in their operations amid a slowing economy. The Aus

China firm backs wind farm

Chinese wind-turbine company Goldwind has backed a proposed $250 million wind and solar farm in the Wheatbelt which seeks to match WA’s soaring rooftop solar generation with night-time wind generation. The West

Wesfarmers may chase GrainCorp

As GrainCorp remains a talking point in the market, some are wondering whether a new name could be added to the group bidding for the country’s largest grain handler. The Aus

ASX 200 boards near 30pc women

Corporate Australia’s success in lifting the proportion of women on boards to nearly 30 per cent in three years is a sign that gender diversity quotas are unnecessary, the Australian Institute of Company Directors argues. The Fin

Vale disaster may mean higher prices for Australian miners

BHP, Rio Tinto and Fortescue are among the Australian iron ore producers that may reap higher prices if Brazilian authorities order a halt to iron ore miner Vale’s operations in response to the fatal Feijao dam collapse in which 65 people have been confirmed dead so far. The Fin

$6bn weapons to arm our new submarines

The Defence Department is poised to spend up to $6 billion arming Australia’s new fleet of submarines with an arsenal of next-generation weapons likely to include underwater drones and anti-aircraft missiles. The Aus

Saffioti to sign Nedlands plan

Planning Minister Rita Saffioti has taken the unprecedented step of drafting a new planning scheme for the City of Nedlands after the council refused to co-operate. The West

 

The Australian Financial Review

P1: Huawei’s local chairman, John Lord, said the telecommunications giant had been swept up in a wave of anti-China sentiment after the US filed criminal charges accusing it of stealing American technology and evading sanctions against Iran.

P1: The prudential supervisor has rejected attacks by the Productivity Commission and competition regulator that its controversial home lending caps delivered a profit windfall to the major banks and failed to consider the impact on smaller lenders.

P4: A key prosecution witness believed there was little harm in former deputy tax commissioner Michael Cranston trying to arrange a meeting with the tax office over freezing orders affecting his son’s business.

P6: Corporate Australia’s success in lifting the proportion of women on boards to nearly 30 per cent in three years is a sign that gender diversity quotas are unnecessary, the Australian Institute of Company Directors argues.

P9: A new analysis on Labor’s proposed crackdown on share portfolio franking credits has found women will be disproportionately affected by the change, including elderly voters and widows.

P10: Intelligence watchdogs want more resources to monitor the spy agency’s use of new powers to access encrypted messages that were rushed through Parliament late last year, warning it otherwise will be forced to reduce scrutiny on other spy agencies.

P13: Agricultural fund manager Laguna Bay and West Australian businessman Peter Fogarty have injected $16 million into ailing McWilliam’s Wines in a recapitalisation that new chief executive David Pitt says will enable it to break even this year after a dive into the red.

P15: BHP faces a new $82 million tax bill after a judgment in the full Federal Court that takes the total payout related to the miner’s Singapore marketing arm to more than $611 million.

P17: The financial advice and wealth management community is on high alert ahead of commissioner Hayne’s final recommendations as concerns mount that reforms could increase the cost of advice for consumers, reduce the viability of financial advice businesses and abruptly end vertical integration.

P20: The federal government has accepted – or agreed in principle to – almost 70 per cent of the recommendations made by the Black Economy Taskforce aimed at tackling illegal activities estimated to cost the nation about $50 billion a year.

P29: BHP, Rio Tinto and Fortescue are among the Australian iron ore producers that may reap higher prices if Brazilian authorities order a halt to iron ore miner Vale’s operations in response to the fatal Feijao dam collapse in which 65 people have been confirmed dead so far.

 

The Australian

P2: Scott Morrison has further extended the small business instant asset write-off tax break, and increased the threshold to $25,000, in a bid to keep Australian companies investing in their operations amid a slowing economy.

P2: The Defence Department is poised to spend up to $6 billion arming Australia’s new fleet of submarines with an arsenal of next-generation weapons likely to include underwater drones and anti-aircraft missiles.

P17: The corporate watchdog should adopt a tough new approach to enforcement that focuses on taking legal action to ensure “deterrence, public denunciation and punishment of wrongdoing”, an internal review has found.

P18: As GrainCorp remains a talking point in the market, some are wondering whether a new name could be added to the group bidding for the country’s largest grain handler.

P19: Amazon’s Australian launch has had a significant impact on the retail sector, prompting an increase in the number of online consumers and triggering online investment by local retailers.

P21: The banking regulator doesn’t see enough risk in the wilting housing market or banks’ capital positions to introduce a “countercyclical capital buffer” early this year, although it will assess whether more contingency planning for a downturn is required.

P22: Caterpillar says its profit this year is likely to rise less than analysts were expecting, as China’s slowing economy and write-offs on loans to equipment customers weigh on the machinery giant.

P24: The clearest indicators of the Australian economy’s ongoing momentum are strong employment growth and a rapid shift in the federal budget towards surpluses, says Ian Harper, a member of the Reserve Bank’s policy setting board.

 

The West Australian

P1: Criminal charges laid in the US against Chinese technology giant Huawei could scuttle a $136 million 4G rail network communications contract awarded to the company by the State Government.

P6: The family and friends of millionaire phone tycoon Zhenya Tsvetnenko hold fears for his welfare and safety in prison, after he was told yesterday he would stay in jail as he awaits potential extradition to the US.

P9: Perth is one of Australia’s most affordable cities to educate a child, irrespective of the type of school they attend, according to new research.

P10: Room-sharing site Airbnb has fired a broadside in the escalating WA tourism wars, calling on the State Government to put in place Statewide rules to see off a push to prevent holiday areas like Margaret River and Broome from using the service.

Business: Chinese wind-turbine company Goldwind has backed a proposed $250 million wind and solar farm in the Wheatbelt which seeks to match WA’s soaring rooftop solar generation with night-time wind generation.

The $100 million-plus sale of Perth Energy is a couple of steps closer, with Gresham Partners set to short-list interested buyers by the end of the week.

A 45-year-old Perth-based national distributor of paints and coatings has collapsed suddenly, putting nearly 100 jobs at risk.

Aspiring lithium miner Liontown Resources is hoping to avoid the mistakes of some of the sector’s early movers by nailing down the metallurgy of its ore and making sure its plant design is right for optimum recovery rates.

New ASX listings slowed in the second half of 2018 and the softening trend in the initial public offerings market is set to continue this year as sentiment for new market entrants remains soft.

Property: Planning Minister Rita Saffioti has taken the unprecedented step of drafting a new planning scheme for the City of Nedlands after the council refused to co-operate.

A $38 million, 39-level Wellington Street student accommodation tower linked to developer Stirling Capital yesterday won development approval.

Two 7-Eleven branded service stations in the Perth metropolitan area have sold for $14 million.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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