07/02/2019 - 06:37

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07/02/2019 - 06:37

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Seven mulls sale of Crux gas stake

Seven mulls sale of Crux gas stake

The Seven Group has appointed Morgan Stanley to potentially find a buyer for its 15 per cent stake in the Crux gas field just days after the approval process for the project was started. The Aus

Cash concerns could dump wave energy plan

A troubled wave energy project off Albany backed by $15.7 million of taxpayers’ funds has been thrown further into doubt after Premier Mark McGowan labelled the proponent’s financial position “very concerning”. The West

Woodside LNG millions head overseas

Highly skilled engineering work from Woodside’s $44 billion spend on new LNG projects is headed overseas despite Premier Mark McGowan’s task force working to make Perth an international hub for oil and gas expertise. The West

RBA’s Lowe retreats on rate hike

Leading market economists have backed away from predicting higher interest rates in 2019 after Reserve Bank of Australia governor Philip Lowe retreated from his monetary policy guidance that the next move in interest rates would likely be up. The Fin

Coles convenience earnings dive after new Viva deal

Analysts have cut profit forecasts for Coles by as much as 10 per cent after the recently floated retailer signed a new fuel supply agreement with Viva Energy which will decimate earnings from petrol and force Coles to ramp up convenience-store sales. The Fin

Airports in the clear, profits ‘not excessive’

Airlines have accused the Productivity Commission of “endorsing Australian airports to remain the most expensive in the world”. The Aus

Huawei got PM backing

The Australian boss of Chinese telco giant Huawei has revealed that the Prime Minister’s office has twice backed his company’s controversial rail network deal with the State Government. The West

Mueller probe threatens US miracle: Trump

Donald Trump has warned America’s ‘‘economic miracle’’ is at risk of being derailed by Democrat led investigations he said would poison any hope for bipartisanship on issues such as infrastructure and border security. The Fin

Brokers warn home buyers face cash hit

Reserve Bank governor Philip Lowe has endorsed the government’s “cautious” approach to overhauling remuneration for mortgage brokers, ramping up pressure on Bill Shorten to retreat from Labor’s plan to shift responsibility for payments from banks to borrowers. The Aus

Medicare’s $110m rebate ‘windfall’

Medicare has quietly accumulated $110 million in rebates owed to Australians who haven’t managed to make electronic claims since cheques were phased out in 2016. The Aus

Vale declares force majeure

Vale did something it said it wasn’t going to do in the wake of the deadly tailings dam collapse in Brazil last month — declare force majeure on some of its iron ore contracts. The West

 

The Australian Financial Review

P1: Leading market economists have backed away from predicting higher interest rates in 2019 after Reserve Bank of Australia governor Philip Lowe retreated from his monetary policy guidance that the next move in interest rates would likely be up.

P1: Donald Trump has warned America’s ‘‘economic miracle’’ is at risk of being derailed by Democrat led investigations he said would poison any hope for bipartisanship on issues such as infrastructure and border security.

P2: China has foreshadowed hitting Australian farmers with a crushing tariff on barley imports as the deadline approaches to respond to anti-dumping action launched through the World Trade Organisation.

P3: Labor is declining to explain how it will break from union-aligned industry funds to implement one default superannuation account recommended by the Hayne royal commission, as new figures show increasing compulsory superannuation contributions will not reduce pension costs this century.

P10: The Morrison government could be made to recall Parliament in March to start dealing with recommendations from the Hayne commission if Labor is successful in wooing the votes of the seven crossbenchers when Parliament resumes next week.

P11: AMP’s ousted board members and executives may have escaped the wrath of Commissioner Kenneth Hayne on Monday, but that does not spell the end of the matter for them.

P15: Analysts have cut profit forecasts for Coles by as much as 10 per cent after the recently floated retailer signed a new fuel supply agreement with Viva Energy which will decimate earnings from petrol and force Coles to ramp up convenience-store sales.

P17: CIMIC’s top executives have received cash bonuses of up to $1 million after the construction group’s annual net profits rose 11 per cent to $780.6 million.

P22: Discounts and rebates in the outdoor advertising market will come under scrutiny with the competition watchdog launching an investigation into practices in the sector.

P42: A private commercial developer has purchased a 1.1-hectare landholding in the growing O’Connor industrial area in Perth for $4.18 million with plans to build industrial units.

 

The Australian

P1: Reserve Bank governor Philip Lowe has endorsed the government’s “cautious” approach to overhauling remuneration for mortgage brokers, ramping up pressure on Bill Shorten to retreat from Labor’s plan to shift responsibility for payments from banks to borrowers.

P2: Airlines have accused the Productivity Commission of “endorsing Australian airports to remain the most expensive in the world”.

P2: The Australian government has confirmed that billionaire political donor Huang Xiangmo has had his permanent residency cancelled.

P4: Living costs outstripped household incomes by 2.9 per cent over the past three years as weak wage growth and fast-rising taxes delivered the biggest fall in living standards for more than 30 years.

P6: Aged Care Minister Ken Wyatt was handed a departmental briefing report showing the “winners and losers” from the Coalition’s $2 billion savings drive in the agedcare sector shortly after Scott Morrison announced a royal commission and denied funding cuts.

P9: Medicare has quietly accumulated $110 million in rebates owed to Australians who haven’t managed to make electronic claims since cheques were phased out in 2016.

P17: Commonwealth Bank chief executive Matt Comyn intends to implement several of the Hayne royal commission’s landmark findings earlier than required and has shrugged off suggestions the mortgage broking industry would be hollowed out by scrapping commissions.

P18: The Seven Group has appointed Morgan Stanley to potentially find a buyer for its 15 per cent stake in the Crux gas field just days after the approval process for the project was started.

P19: A major writedown of the National Broadband Network would deliver a much-needed boost to Telstra’s margins as the incumbent telco overhauls its business, according to JPMorgan.

 

The West Australian

 

P3: Live export opponents Animals Australia could lose access to generous Commonwealth tax concessions over its dealings with whistleblowers, with the charities watchdog investigating the claims “as a priority”.

P4: Mark McGowan has hinted controversial plans to nationalise part of WA’s rock lobster industry could be taken off the table.

P5: A troubled wave energy project off Albany backed by $15.7 million of taxpayers’ funds has been thrown further into doubt after Premier Mark McGowan labelled the proponent’s financial position “very concerning”.

P7: Highly skilled engineering work from Woodside’s $44 billion spend on new LNG projects is headed overseas despite Premier Mark McGowan’s task force working to make Perth an international hub for oil and gas expertise.

Business: Fuming pastoralists say jail is the only suitable punishment for bosses overseeing two northern WA livestock operations at the centre of animal welfare probes into hundreds of cattle deaths.

Vale did something it said it wasn’t going to do in the wake of the deadly tailings dam collapse in Brazil last month — declare force majeure on some of its iron ore contracts.

Incoming Virgin Australia chief executive Paul Scurrah says he already has ideas about what he wants to do at Australia’s second biggest airline but will be informed by feedback from within the business.

Mid-tier gold miner Ramelius Resources is set to formally bring the Tampia gold project near Narembeen under its banner after hitting the threshold to mop up minority investors holding out in its takeover of gold junior Explaurum.

Genuine Australian-produced manuka honey will soon carry a symbol to prove it is not fake.

 

 

 

 

 

 

 

 

 

 

 

 

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