13/02/2019 - 06:46

Morning Headlines

13/02/2019 - 06:46

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‘Blame Shorten for boats’

Scott Morrison has declared every new people-smuggling boat arrival will be “on Bill Shorten’s head” after the Coalition lost control of the parliament, allowing Labor to join the Greens and independents to push through a bill that hands doctors greater powers to bring asylum-seekers to Australia. The Aus

Subi market gets backing

It took several hours but the City of Subiaco was able to endorse its support for a $235 million redevelopment of the Subiaco Pavilion Market last night amid community opposition to its proposed height. The West

Oxford kicks off $1b sale of Investa towers

The sell-down by Canada’s Oxford Properties of as much as $1 billion in office towers from the former Investa Office Fund has kicked off with the divestment of a Perth office for $72 million. The Fin

Orica’s joint partner triggers possible $170m Burrup writedown

Orica may be forced to take a $170 million writedown on its troubled Burrup ammonium nitrate plant in West Australia after its joint venture partner took an impairment on the project, Citi analysts said. The Aus

Ex-Aurora gas boss selling $40m site

A group of high-powered Perth business executives, led by former Aurora Oil and Gas chairman Jon Stewart, has put a $40 million Geelong housing site on the market. The Fin

MP failed to mention cafe link

Liberal MP Ian Goodenough promoted on his official Facebook and Twitter accounts a cafe that leases space from a shopping centre he part-owns. The Aus

Seven joins battle for 170 former Fairfax mastheads

Seven West Media has entered the competition to buy Nine Entertainment’s community newspapers inherited in Nine’s recent acquisition of Fairfax, taking on private equity suitors eager to secure the assets. The Aus

Macquarie sets sights on ‘capital-starved’ growth

Macquarie chief executive Shemara Wikramanayake says the financial services group is scouring the globe to find industries ‘‘starved of capital’’ to keep delivering high returns to investors. The Fin

Stone Axe swallows wagyu beef grower

Stone Axe Pastoral has struck a deal to acquire Margaret River Premium Meat Exports, creating one of Australia’s largest wagyu beef operations. The West

Open tender ignored for Manus work

The federal government chose not to run an open tender process for contracts worth $423 million to provide security for refugees on Manus Island, raising more questions about how the thinly capitalised and inexperienced Paladin group was chosen. The Fin

Why Kalgoorlie digs Howard

Australia’s second-longest serving prime minister John Howard will today be announced as the keynote speaker for this year’s Diggers and Dealers Mining Forum in Kalgoorlie. The West

 

The Australian Financial Review

P1: Macquarie chief executive Shemara Wikramanayake says the financial services group is scouring the globe to find industries ‘‘starved of capital’’ to keep delivering high returns to investors.

P3: Property investors are chasing falling prices, bargain-basement fixed rates, rising rental yields and bigger discounts as they rush to beat a Labor government’s negative gearing changes, agents and analysts say.

P4: The Greens have backed extra sitting weeks of Parliament to start dealing with the recommendations of the banking royal commission but are pushing for changes beyond those suggested by Commissioner Kenneth Hayne.

P6: The federal government chose not to run an open tender process for contracts worth $423 million to provide security for refugees on Manus Island, raising more questions about how the thinly capitalised and inexperienced Paladin group was chosen.

P7: The Morrison government aims to ram through legislation to stop superannuation funds such as industry giant Hostplus from wining and dining corporate clients to win default fund mandates from employers.

P9: Interest rates will remain on hold until 2020, according to NAB, after the bank’s latest survey showed business conditions barely rebounded in January after December had the biggest monthly fall since the global financial crisis.

P11: The Tax Office has stopped $2.7 billion from being lost to the cash economy in the building and construction industry, with new data tracking false ABNs, unreported income and incorrect GST registration.

P15: New Challenger chief executive Richard Howes is pinning his hopes on specialist investment platforms to ramp up annuity sales because financial advisers have turned out to be a less reliable sales channel as they deal with the aftermath of the Hayne royal commission.

P35: The sell-down by Canada’s Oxford Properties of as much as $1 billion in office towers from the former Investa Office Fund has kicked off with the divestment of a Perth office for $72 million.

P39: A group of high-powered Perth business executives, led by former Aurora Oil and Gas chairman Jon Stewart, has put a $40 million Geelong housing site on the market.

 

 

The Australian

P1: Scott Morrison has declared every new people-smuggling boat arrival will be “on Bill Shorten’s head” after the Coalition lost control of the parliament, allowing Labor to join the Greens and independents to push through a bill that hands doctors greater powers to bring asylum-seekers to Australia.

P3: Qantas frequent flyer points are fast becoming Australia’s “alternative” currency with new statistics showing two-thirds of points are now earned on the ground, rather than by booking flights.

P4: Liberal MP Ian Goodenough promoted on his official Facebook and Twitter accounts a cafe that leases space from a shopping centre he part-owns.

P6: Winds roaring off the Southern Ocean at Albany have become a steady source of power in a town that believes 100 per cent of its power will come from renewable sources within seven years.

P8: Chinese businessman Huang Xiangmo has described Australia as being like a “giant baby” that had a long way to go to grow up when it came to foreign policy.

P9: Republicans and Democrats have reached “an agreement in principle” to avoid another US government shutdown in a reversal of fortune after talks collapsed the previous day.

P19: Canadian asset manager Brookfield says its $5.7 billion move on Healthscope creates a strong platform for future investments in the region as it commits to “pour a lot of capital” into the private hospital group to “scale up” the asset.

P20: Seven West Media has entered the competition to buy Nine Entertainment’s community newspapers inherited in Nine’s recent acquisition of Fairfax, taking on private equity suitors eager to secure the assets.

P21: The West Australian government has pushed back the implementation date of a range of new wagering regulations after pressure from corporate bookmakers to review the rules.

P22: Orica may be forced to take a $170 million writedown on its troubled Burrup ammonium nitrate plant in West Australia after its joint venture partner took an impairment on the project, Citi analysts said.

 

The West Australian

P4: It took several hours but the City of Subiaco was able to endorse its support for a $235 million redevelopment of the Subiaco Pavilion Market last night amid community opposition to its proposed height.

P8: Australia’s second-longest serving prime minister John Howard will today be announced as the keynote speaker for this year’s Diggers and Dealers Mining Forum in Kalgoorlie.

P9: Three alleged money launderers were behind bars last night after a dramatic stop-and search outside a luxury inner city hotel led police to find more than half a million dollars in a hire car.

P21: Subiaco’s new inner-city high school will be named after larrikin former prime minister Bob Hawke if Premier Mark McGowan gets his way.

P22: Nearly $1 billion in extra royalties could flow into WA’s coffers in the coming months as iron ore prices soar in response to the Vale dam disaster in Brazil.

Business: Mystery surrounds the abrupt departures of two Australian directors of David Jones’ South African parent company just days after the shock exit of the struggling department store chain’s chief executive.

Stone Axe Pastoral has struck a deal to acquire Margaret River Premium Meat Exports, creating one of Australia’s largest wagyu beef operations.

Tony Galati is heading back to his roots to open an 11th Spudshed store in Spearwood before Easter.

Last Valentine’s Day, Woodside Petroleum chief executive Peter Coleman wooed investors by adding an extra 50 per cent of the Scarborough LNG project to his growth plan and powering it with a $2.5 billion equity raising.

Property: Global co-working space phenomenon WeWork has confirmed it will open its Perth office in the iconic Central Park tower in September.

Revised plans for the $350 million Morley Galleria shopping centre expansion were approved on Monday — though some elements of the development are not expected to be completed until 2031.

Primewest-Iris Residential’s $140 million plan for 150 apartments and 14 specialty tenancies at the gateway to LandCorp’s Montario Quarter in Shenton Park has been approved.

The City of Fremantle has won Planning Minister Rita Saffioti’s approval for its “groundbreaking” infill housing strategy, the Freo Alternative.

 

 

 

 

 

 

 

 

 

 

 

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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