15/02/2019 - 06:40

Morning Headlines

15/02/2019 - 06:40

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RCR Tomlinson under ASIC investigation

Morning Headlines

RCR Tomlinson under ASIC investigation

The Australian Securities and Investments Commission has launched an investigation into the collapse of engineering group RCR Tomlinson, which went into administration in late 2018 owing banks and sub-contractors more than $600 million. The Fin

Nats make bid waves

The McGowan Government has been accused of engineering the bidding process for a wave energy project off Albany that was awarded to a troubled green power firm. The West

Tax blues for profitable WA farmers

Farmers in Western Australian are facing tax headaches that have highlighted shortcomings in government and bank initiatives aimed at helping them cope with seasonal volatility after celebrating what is being hailed as the most profitable year on record. The Fin

Small business faces $8bn holiday pay hit

Bill Shorten has moved to repeal a Coalition law aimed at protecting small and family businesses from up to $8 billion in “double dipping” holiday pay claims from more than one million casual workers. The Aus

Auto truck crash ‘no failure’

Fortescue Metals Group insists a collision between two driverless dump trucks at its Christmas Creek iron ore mine in the Pilbara this week was not a failure of its autonomous haulage system. The West

Business bashing poll on the cards

Business bashing is poised to be a central feature of the election campaign after the Coalition abandoned its ‘‘big stick’’ legislation to forcibly divest energy companies and pledged instead to take it to the people. The Fin

Bigger isn’t better says CEO as Newcrest doubles its profit

Newcrest Mining boss Sandeep Biswas has questioned the rationale behind the recent high-profile mega-deals in the global gold industry. The Aus

Bird derails Adani’s mine

The endangered black-throated finch is on the verge of halting Adani’s controversial coalmine after a review by a Melbourne academic, commissioned by the Queensland government at the 11th hour, found the multi-billion dollar project’s plan to protect the rare bird was inadequate. The Aus

Hayne costs hit AMP, Suncorp

New AMP chief executive Francesco De Ferrari has put growth on the backburner while he cleans up the embattled wealth manager in the aftermath of the Hayne royal commission. The Fin

Piecing together a jigsaw of evidence

More pieces of the puzzle that could finally identify the Claremont serial killer were revealed in court yesterday — with extreme pornography, women’s clothing, the Hollywood hospital and prison phone calls all placed in play by prosecutors aiming to prove that man is Bradley Robert Edwards. The West

 

The Australian Financial Review

P1: New AMP chief executive Francesco De Ferrari has put growth on the backburner while he cleans up the embattled wealth manager in the aftermath of the Hayne royal commission.

P1: Business bashing is poised to be a central feature of the election campaign after the Coalition abandoned its ‘‘big stick’’ legislation to forcibly divest energy companies and pledged instead to take it to the people.

P2: The head of BHP’s Olympic Dam copper and uranium mine, Laura Tyler, says a decision by the South Australian government to grant any expansion of the mine’s ‘‘major development status’’ was a positive move, as the company crunches the numbers ahead of a likely decision late in 2020 on whether a $2.7 billion expansion might proceed.

P3: The Department of Home Affairs sought to exclude Manus Island security contractor Paladin from Freedom of Information laws, while allowing it to sit outside the usual government procurement guidelines, raising further questions about the awarding of $423million in Commonwealth contracts.

P6: Labor has accused the Morrison government of ‘‘devising disputes over national security’’ as both sides traded barbs over federal laws to strip terrorists of their citizenship.

P7: Queensland billionaire Clive Palmer may be back in the money after winning a long-running royalty dispute with Chinese-owned CITIC Pacific, but he denies he is frittering the money away by spending an estimated $50 million to re-launch his political career.

P10: Farmers in Western Australian are facing tax headaches that have highlighted shortcomings in government and bank initiatives aimed at helping them cope with seasonal volatility after celebrating what is being hailed as the most profitable year on record.

P15: Magellan Financial Group has stoked a firestorm of interest with its admission that it is exploring a foray into postretirement products, but it could be six months before the market hears anything more about the project.

P21: South32 chief executive Graham Kerr has labelled the Vale mine dam collapse in Brazil an industry-changing tragedy that must never be repeated, and says the company’s mining operations in Australia and overseas are safe.

P24: The Australian Securities and Investments Commission has launched an investigation into the collapse of engineering group RCR Tomlinson, which went into administration in late 2018 owing banks and sub-contractors more than $600 million.

 

The Australian

P1: The endangered black-throated finch is on the verge of halting Adani’s controversial coalmine after a review by a Melbourne academic, commissioned by the Queensland government at the 11th hour, found the multi-billion dollar project’s plan to protect the rare bird was inadequate.

P1: Bill Shorten has moved to repeal a Coalition law aimed at protecting small and family businesses from up to $8 billion in “double dipping” holiday pay claims from more than one million casual workers.

P2: Parents have backed NAPLAN and the maligned My School website, with new research revealing that most see nothing wrong in testing students periodically to track their literacy and numeracy skills.

P4: Senior cabinet ministers are concerned ASIO will be forced to divert key resources to determine— within a new 72-hour time limit — whether refugees and asylum seekers held on Nauru and Manus Island pose a security risk or have a substantial criminal record.

P6: States and indigenous organisations yesterday committed to reworking the national measures of indigenous health and wellbeing with a new focus on families, healing and an end to systemic discrimination.

P6: The number of Chinese in Australia on temporary work visas has fallen since the start of the free trade agreement with China, according to a report to be released today by the Australia-China Relations Institute.

P8: Michaelia Cash’s then chief of staff, Ben Davies, told police a media adviser with the Registered Organisations Commission gave him advance notice of raids on the Australian Workers Union, the Federal Court has been told.

P17: GrainCorp chairman Graham Bradley has received a big wakeup call ahead of next week’s annual general meeting at Sydney’s Hilton Hotel.

P20: Newcrest Mining boss Sandeep Biswas has questioned the rationale behind the recent high-profile mega-deals in the global gold industry.

 

The West Australian

P2: More pieces of the puzzle that could finally identify the Claremont serial killer were revealed in court yesterday — with extreme pornography, women’s clothing, the Hollywood hospital and prison phone calls all placed in play by prosecutors aiming to prove that man is Bradley Robert Edwards.

P12: The McGowan Government has been accused of engineering the bidding process for a wave energy project off Albany that was awarded to a troubled green power firm.

P17: A State Government MP has been attacked as a “green communist” after she blamed farmers for climate change, demanded livestock be replaced with plants and called on people to eat less meat.

P19: A concrete jetty on Rottnest Island was flagged as a potential safety risk years before it collapsed and seriously injured three people, according to a report that criticises the State Government’s handling of the asset.

Business: Fortescue Metals Group insists a collision between two driverless dump trucks at its Christmas Creek iron ore mine in the Pilbara this week was not a failure of its autonomous haulage system.

New Woodside Petroleum bosses and directors will need millions of dollars of “skin in the game” after the oil and giant’s move to join other big companies in imposing share ownership conditions on its executives.

Telstra cutbacks are expect to see more than 20,000 people lose their jobs as the company warned of mass lay-offs throughout the 40,000 private subcontractor workforce it employs.

Airbus will cease production of the A380 superjumbo after key customer Emirates decided to cancel 39 outstanding orders and take just 14 more.

Genetically modified canola is likely to be more widely adopted across WA in coming years after a parliamentary report concluded the existing system of compensation for affected non-GM farmers was adequate.

 

 

 

 

 

 

 

 

 

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