08/02/2019 - 06:35

Morning Headlines

08/02/2019 - 06:35

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Inpex has win in floating hotel case

Morning Headlines

Inpex has win in floating hotel case

Inpex has won the first round of a legal dispute with a contractor over problems at a floating hotel deployed to accommodate workers on the new Ichthys LNG project, off the Kimberley. The West

Metals X and Panoramic on Sandfire’s radar as DeGrussa winds down

It is no secret that acquisitions are set to be on the agenda for Sandfire Resources, but there is a growing belief that the most likely targets are Metals X and Panoramic Resources. The Aus

Goodenough used LinkedIn to spruik units, promote businesses

Liberal MP Ian Goodenough promoted the sales campaign of a property business — in which he has a 50 per cent stake, and which he has not declared on his parliamentary register of interest — on his official LinkedIn page. The Aus

Rio debt upgrade as iron ore rises

Rio Tinto’s debt reduction campaign and its renewed capital discipline have left it in better shape to withstand a period of increased commodity price volatility, according to ratings agency Moody’s. The Fin

NAB in turmoil as duo exit

National Australia Bank has sought to appease angry investors and address its culture of scandals by forcing the exit of chief executive Andrew Thorburn and announcing the departure of chairman Ken Henry, after stinging criticism of the pair in the Hayne royal commission’s final report. The Aus

It's a cray of light

Premier Mark McGowan is set to intervene in the crayfish controversy amid growing signs his Government is poised to back down on nationalising part of the industry. The West

States to pressure Treasurer over crush

Josh Frydenberg will face hostile state Labor counterparts in Canberra today as the nation’s treasurers meet to try reaching an agreement on a plan to ease congestion in major cities. The Aus

Union targets airports in supply chain push

The Transport Workers Union will pressure airports to impose minimum standards for pay and conditions at baggage handlers and airline suppliers, threatening ‘‘disruption’’ to achieve its aims. The Fin

Coroner backs voluntary cashless debit card

A forensic inquiry into the tragic short lives of 13 indigenous children and young people in the Kimberley has chronicled dysfunction in remote towns and communities and found serious flaws in a child protection system that favours relatives as informal carers for children whose parents have failed them. The Aus

State moves first on gas flaring

The WA Government will ban oil producers from routinely flaring gas from 2030, but the State’s gas and offshore oil sectors are unaffected. The West

Australia backs Trump World Bank pick

Treasurer Josh Frydenberg has swung Australia’s weight behind David Malpass, Donald Trump’s pick for World Bank president and an outspoken critic of the global institution who wants to stop it lending to China. The Fin

 

The Australian Financial Review

P2: Mike Cannon-Brookes might be the most recognisable name in Australian tech, but that doesn’t mean he wants to be.

P3: Rockpool Bar & Grill, known for its $190 wagyu sirloin steaks, linen napkins and dress circle for corporate movers and shakers, counts US investment bank Citigroup among its best corporate clients.

P6: The banking royal commission’s final report has anticipated many of the claims now being made by the mortgage broking industry to keep lucrative commission payments.

P10: The Australian Energy Market Commission has rebuffed the Australian Energy Market Operator’s campaign for a ‘‘strategic reserve’’ to deal with power supply shortfalls in a draft ruling that accepts blackouts can’t be eliminated.

P11: The Transport Workers Union will pressure airports to impose minimum standards for pay and conditions at baggage handlers and airline suppliers, threatening ‘‘disruption’’ to achieve its aims.

P12: Consumer anxiety has reached its highest level in three years, with households spending less on discretionary items as they worry about their finances and the future.

P13: Treasurer Josh Frydenberg has swung Australia’s weight behind David Malpass, Donald Trump’s pick for World Bank president and an outspoken critic of the global institution who wants to stop it lending to China.

P16: Westpac chief executive Brian Hartzer has warned that recommendations made by Commissioner Kenneth Hayne to clean up the wealth sector may have the unintended consequence of pricing some customers out of financial advice.

P18: Streaming advertising revenue across Australia’s free-to-air and subscription television sector surged in the second half of 2018, softening a decline in traditional broadcast advertising that was driven by a pull-back in big bank marketing during the royal commission.

P19: Downer EDI is benefiting from the infrastructure boom driven by population growth, chief executive Grant Fenn said, as the contractor swung to a $141.4 million interim net profit from a $15.9 million loss a year earlier.

P22: Rio Tinto’s debt reduction campaign and its renewed capital discipline have left it in better shape to withstand a period of increased commodity price volatility, according to ratings agency Moody’s.

 

The Australian

P1: National Australia Bank has sought to appease angry investors and address its culture of scandals by forcing the exit of chief executive Andrew Thorburn and announcing the departure of chairman Ken Henry, after stinging criticism of the pair in the Hayne royal commission’s final report.

P2: Josh Frydenberg will face hostile state Labor counterparts in Canberra today as the nation’s treasurers meet to try reaching an agreement on a plan to ease congestion in major cities.

P4: Two of the nation’s top think tanks have slammed Labor’s policy for government to pay developers to build 250,000 homes for “affordable” letting, questioning the efficiency and fairness of the plan.

P6: Liberal MP Ian Goodenough promoted the sales campaign of a property business — in which he has a 50 per cent stake, and which he has not declared on his parliamentary register of interest — on his official LinkedIn page.

P8: A forensic inquiry into the tragic short lives of 13 indigenous children and young people in the Kimberley has chronicled dysfunction in remote towns and communities and found serious flaws in a child protection system that favours relatives as informal carers for children whose parents have failed them.

P18: It is no secret that acquisitions are set to be on the agenda for Sandfire Resources, but there is a growing belief that the most likely targets are Metals X and Panoramic Resources.

P19: Yet another struggling menswear retailer will close its doors after failing to find a buyer. Ed Harry, which employs nearly 500 people nationally, entered into voluntary administration last month but attempts to sell the business were unsuccessful.

P22: Inspectors of a Brazilian mining waste dam whose collapse last month killed at least 150 people had warned its owner that faulty water drainage and monitoring systems represented a potential risk of failure, according to a safety report reviewed by The Wall Street Journal.

P23: Mirvac Group is looking to defy the falling residential market by sticking yesterday to bullish guidance of a 5 per cent lift in distributions and saying it was holding apartment defaults in check.

 

The West Australian

P1: Telethon has scored an unprecedented coup for the kids of WA, striking the first international partnership with the world's biggest sporting club, Manchester United.

P1: Premier Mark McGowan is set to intervene in the crayfish controversy amid growing signs his Government is poised to back down on nationalising part of the industry.

P10: Former premier Colin Barnett has warned that the National Disability Insurance Scheme is in grave danger of losing its way.

P17: The live export worker who was named PETA’s person of the year after he filmed horrific footage of sheep dying of heat stroke on a ship sent a fellow whistleblower an image of a gun and a threatening message.

P22: The State Government should sell the East Perth Power Station to Google for $1 and let it create a thriving Australian campus in Perth, a property executive says.

Business: BHP’s bid to revitalise its Goldfields nickel business has hit a fresh milestone, with Nickel West set to start work this month to develop two new open pits to feed its Mt Keith operations.

Inpex has won the first round of a legal dispute with a contractor over problems at a floating hotel deployed to accommodate workers on the new Ichthys LNG project, off the Kimberley.

AGL has admitted its fledgling WA business won’t “move the dial” in the next few years as the east coast group and its rivals await full deregulation of the State’s electricity market.

A study has found the State Government’s Minerals Research Institute of WA delivered more than $3 in benefits for every $1 invested.

The group behind the 50-strong hay truck convoy to the drought-stricken Eastern States in January is to do another run soon, this time to pastoralists in WA’s thirsty North West.

The WA Government will ban oil producers from routinely flaring gas from 2030, but the State’s gas and offshore oil sectors are unaffected.

 

 

 

 

 

 

 

 

 

 

 

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