31/01/2019 - 06:20

Morning Headlines

31/01/2019 - 06:20

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Miners back Uluru call for ‘voice’

Miners back Uluru call for ‘voice’

Global resource giants BHP and Rio Tinto will today become the first major corporations to publicly support the Uluru Statement from the Heart, with BHP chief executive Andrew Mackenzie to tell business leaders that his company of 62,000 workers “cannot stand on the sidelines”. The Aus

Blackburne winner on Pavilion

Developer Blackburne Property Group appears to be a winner in the first round of the public relations offensive in its bid to build a 24-storey tower within its $235 million Subiaco Pavilion Market redevelopment. The West

Banks ‘not to blame’ for house slump

Westpac chief executive Brian Hartzer has rejected ‘‘doom and gloom’’ claims that the big banks are worsening the housing price slump by cutting off credit amid the glare of the royal commission. The Fin

Dam disaster fuels surge in iron ore price

A surge in the price of iron ore is set to deliver a $10 billion windfall to the nation’s export earnings this year after a deadly dam breach in Brazil forced production of the steelmaking material to be cut, triggering a potential boost in revenues for Australia’s top miners. The Aus

Sandfire on acquisition trail

Sandfire Resources boss Karl Simich has indicated the company is eyeing more merger and acquisition opportunities after an initial approach to MOD Resources was turned down by the Botswana-focused copper explorer last week. The West

ALP goads seniors: vote against us

Chris Bowen has told self-funded retirees upset with Labor’s $55.7 billion franking credit crackdown to “vote against us”, as new data reveals more than 50,000 voters across the nation’s 10 most marginal seats stand to lose up to $2700 a year on average under the opposition tax grab. The Aus

Lenders hedge bets on RBA cutting cash rates

Lenders are hedging their bets against the Reserve Bank of Australia cutting record low cash rates by letting the discount rate between floating and fixed rates widen by up to 30 per cent, analysis of rates reveals. The Fin

New support on Brexit tack a fillip for May

British Prime Minister Theresa May has received a big boost to her Brexit campaign after her party rallied behind her and voted through a new negotiating mandate to take to Brussels – but she still faces an uphill battle to wrest concessions from the European Union that stand a chance of passing muster when she returns for another parliamentary vote on February 14. The Fin

WA cracks the whip on TAB sale as advisers are sought

The sale plans for the West Australian TAB look to be ramping up as the state government sends out a request for proposals to due diligence advisers to handle a sale of the state asset that is believed to be worth hundreds of millions of dollars. The Aus

Market divided over TPG-Vodafone chances

TPG Telecom’s dramatic move to halt work on its mobile network may not be enough convince the competition watchdog to allow the $15 billion merger with Vodafone to go through, with some warning the Australian Competition and Consumer Commission will still look for big concessions from the two companies. The Fin

Our showground of the future

A new long-term vision for historic Claremont Showground features a multimillion-dollar redevelopment that could include a multi-level hotel, serviced apartments, shops and restaurants. The West

 

The Australian Financial Review

P1: Westpac chief executive Brian Hartzer has rejected ‘‘doom and gloom’’ claims that the big banks are worsening the housing price slump by cutting off credit amid the glare of the royal commission.

P1: China will push ahead with high-level trade negotiations in Washington this week to avert an economically crippling trade war with the United States despite outrage at criminal allegations levelled against telecoms giant Huawei.

P5: Lenders are hedging their bets against the Reserve Bank of Australia cutting record low cash rates by letting the discount rate between floating and fixed rates widen by up to 30 per cent, analysis of rates reveals.

P8: The nation’s peak motoring body says both major parties must confront the replacement of fuel excise with a road user charge and start the transition by applying it to the growing fleet of electric cars.

P13: British Prime Minister Theresa May has received a big boost to her Brexit campaign after her party rallied behind her and voted through a new negotiating mandate to take to Brussels – but she still faces an uphill battle to wrest concessions from the European Union that stand a chance of passing muster when she returns for another parliamentary vote on February 14.

P15: TPG Telecom’s dramatic move to halt work on its mobile network may not be enough convince the competition watchdog to allow the $15 billion merger with Vodafone to go through, with some warning the Australian Competition and Consumer Commission will still look for big concessions from the two companies.

P16: Alternative investment giant Oaktree Capital Management is understood to be the mystery party circling Downer EDI Ltd’s contract mining business.

P18: Telstra chief executive Andy Penn blames his company’s plan to sack a quarter of its employees on the NBN, saying the government-owned fibre network eventually would take up to half the telco’s earnings.

P31: ‘‘Automation’’ will be the buzzword for the industrial property market in 2019 as manufacturers, wholesalers and retailers discard outdated manually operated distribution hubs and invest in state-of-the-art new facilities in the quest to find the most efficient ways to deliver goods speedily to customers.

 

The Australian

P1: Global resource giants BHP and Rio Tinto will today become the first major corporations to publicly support the Uluru Statement from the Heart, with BHP chief executive Andrew Mackenzie to tell business leaders that his company of 62,000 workers “cannot stand on the sidelines”.

P1: Chris Bowen has told self-funded retirees upset with Labor’s $55.7 billion franking credit crackdown to “vote against us”, as new data reveals more than 50,000 voters across the nation’s 10 most marginal seats stand to lose up to $2700 a year on average under the opposition tax grab.

P2: Chinese telco Huawei says it can “guarantee” that criminal charges filed against it in the US won’t affect a controversial $205 million contract with the West Australian government to build a 4G communications system for Perth’s rail network.

P6: AMP’s managing director of financial planning provided one of the group’s most senior financial advisers with potentially illegal and “at best, immoral” advice to deceive the tax office by restructuring his assets to reduce a $220,000 debt, and then moved to seize the adviser’s business when he reported the incident, court documents allege.

P6: Consumer advocate Choice has slammed the country’s biggest industry fund, the $140 billion AustralianSuper, for hitting lowincome and young savers with a hefty fee increase amid uncertain passage of government legislation aimed at protecting low-balance super members.

P17: A surge in the price of iron ore is set to deliver a $10 billion windfall to the nation’s export earnings this year after a deadly dam breach in Brazil forced production of the steelmaking material to be cut, triggering a potential boost in revenues for Australia’s top miners.

P17: Small business ombudsman Kate Carnell has called on the Hayne royal commission, policymakers and regulators to work harder to get small and medium business on a firmer footing against the banks or risk a “credit squeeze” in the $300 billion sector.

P18: The sale plans for the West Australian TAB look to be ramping up as the state government sends out a request for proposals to due diligence advisers to handle a sale of the state asset that is believed to be worth hundreds of millions of dollars.

P20: Newcrest Mining has delivered a boost in quarterly gold production for December and reiterated its full-year guidance.

 

The West Australian

P11: A new long-term vision for historic Claremont Showground features a multimillion-dollar redevelopment that could include a multi-level hotel, serviced apartments, shops and restaurants.

P18: The Federal Government will fund 75 extra “restorative care” places to support the growing number of WA seniors wanting to stay in their own homes for longer.

Business: Australian iron ore miners and the WA Treasury are likely to gain financially from the human tragedy of Vale’s burst dam in Brazil.

In a rare outcome for a corporate insolvency, creditors of indigenous contractor Eastern Guruma have been paid 100¢ in the dollar.

Sandfire Resources boss Karl Simich has indicated the company is eyeing more merger and acquisition opportunities after an initial approach to MOD Resources was turned down by the Botswana-focused copper explorer last week.

Developer Blackburne Property Group appears to be a winner in the first round of the public relations offensive in its bid to build a 24-storey tower within its $235 million Subiaco Pavilion Market redevelopment.

The prospect of access to Esperance port has prompted Cazaly Resources to dust off plans for its dormant Parker Range iron ore project near Southern Cross.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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