11/03/2019 - 07:01

Morning Headlines

11/03/2019 - 07:01

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Morning Headlines

Brookfield in hunt for Chevron HQ partner

Canadian giant Brookfield will seek out an investment partner to back its $800 million development of a new headquarters for US energy giant Chevron in Perth. The Aus

$870m share hit as Norway exits oil, gas

More than $870 million worth of shares in key Australian oil and gas players could be dumped after moves by Norway’s giant sovereign wealth fund to reduce its exposure to energy explorers and producers globally. The shift is expected to put pressure on the share performance of key companies including Woodside Petroleum, Santos, Oil Search, Caltex Australia and Beach Energy, in which the Norwegian fund holds stakes worth hundreds of millions of dollars. The Aus

Libs pick Catholic uni leader

WA Liberal members have snubbed calls from Julie Bishop to choose a moderate candidate for the blue-ribbon seat of Curtin, backing former vice-chancellor of Notre Dame University Celia Hammond to become its newest MP. The West

Carbon call a speedbump for Woodside

Woodside Petroleum’s quest to find a major global partner and customers within the next few months for its $US11 Scarborough LNG project has become more difficult with the shock move last week by Western Australia’s Environmental Protection Authority to request new LNG projects be 100 per cent carbon-neutral. The Fin

Elders says Ruralco takeover is expensive

Elders boss Mark Allison says Nutrien’s $469 million takeover of Ruralco is a blessing in disguise that will deliver his company a big boost in market share in farm services. The Fin

Super funds threat to sharemarket

Super funds are set to threaten the role of the Australian sharemarket as they grow larger under the weight of trillions of dollars of funds and move to take full ownership of companies rather than invest in them through shares. The Fin

Health funds warn of closures ahead

Health funds are warning membership rates will plummet to 30 per cent and some insurers will go out of business over the next decade unless urgent action is taken to reduce pressure on premiums, and incentives to take cover are restored. The Fin

China prepared to retaliate over 5G network ban

Australian companies face Chinese retaliation under new foreign investment laws set to be passed by the National People’s Congress on Friday. The Aus

Beachfront art celebration runs out of money

Perth’s world-famous Sculpture by the Sea exhibition could be over for good after this week, organisers have warned. Founding director David Handley said the biggest free public art event in WA cost $2.3 million to stage at Cottesloe beach and the small, not-forprofit organisation was unable to find the funds to continue. The West

 

 

The Australian Financial Review

Page 1: Super funds are set to threaten the role of the Australian sharemarket as they grow larger under the weight of trillions of dollars of funds and move to take full ownership of companies rather than invest in them through shares.

Page 2: Lenders are aggressively targeting cashed-up borrowers with autumn offers ranging from ‘‘no deposit’’ mortgages to doubling Velocity Points in a bid to sustain this weekend’s improvement in property sales.

Page 3: Health funds are warning membership rates will plummet to 30 per cent and some insurers will go out of business over the next decade unless urgent action is taken to reduce pressure on premiums, and incentives to take cover are restored.

Page 7: A leading competition lawyer has called ACCC boss Rod Sims’ push for $100 million penalties against listed public corporations ‘‘misdirected’’, saying it will ‘‘single out and penalise shareholders’’.

Page 9: The Morrison government has taken a modest step towards a carbon trading scheme to drive down greenhouse gas emissions by allowing emissions caps in the so-called Safeguard Mechanism to be updated to reflect current production levels.

Page 10: Chinese officials said they were pushing the United States for a ‘‘two-way’’ agreement so there is a mechanism for both countries to punish each other over trade breaches, and were hopeful of securing a deal despite growing scepticism about whether talks can be concluded by the end of the month.

Page 12: At least five states and territories have fallen seriously behind getting people into university and after May the new government should help them lift bachelor-degree participation rates. The Group of Eight universities said the Coalition’s funding freeze in 2017 has hit South Australia, Queensland, Western Australia, Tasmania and the Northern territory hard.

Page 13: New York hedge fund Manikay Partners has doubled down on its call for accounting software company MYOB to reconsider a takeover offer from private equity firm KKR, demanding the company provide it with key bid documents.

Page 15: Elders boss Mark Allison says Nutrien’s $469 million takeover of Ruralco is a blessing in disguise that will deliver his company a big boost in market share in farm services.

Page 16: Woodside Petroleum’s quest to find a major global partner and customers within the next few months for its $US11 Scarborough LNG project has become more difficult with the shock move last week by Western Australia’s Environmental Protection Authority to request new LNG projects be 100 per cent carbon-neutral.

Page 17: Australia’s booming, but controversial, buy now, pay later market has another major competitor after fintech firm PayRight raised a total of $30 million to expand its operations, which targets consumers making larger purchases than Afterpay allows.

Page 18: Rio Tinto chief executive Jean-Sebastien Jacques says a new internal start-up team that will work across the group’s operations will help shape how the resources giant looks in the decades to come.

 

 

The Australian

Page 1: Hopes of an electoral revival for the Morrison government on the back of a sharpened campaign against Bill Shorten’s border protection credentials and classwar tax plans have been cruelled, with Labor extending its lead as the government notches up 50 losing polls in a row.

Page 6: Australian companies face Chinese retaliation under new foreign investment laws set to be passed by the National People’s Congress on Friday.

Leading educators have welcomed reforms aimed at making university admissions fairer, by curbing serious anomalies that give an unfair advantage to International Baccalaureate students.

Page 8: Labor has declared that the Fair Work Commission would be made to “share the priorities of an incoming Labor government”, in a fresh signal that a Shorten government would legislate to force the industrial umpire to deliver better wage outcomes to 2.3 million workers.
Page 9: The state of Qatar secretly offered $400 million to FIFA just 21 days before world football’s governing body decided that the 2022 World Cup would be held in the tiny desert country, leaked documents show.

Page 17: More than $870 million worth of shares in key Australian oil and gas players could be dumped after moves by Norway’s giant sovereign wealth fund to reduce its exposure to energy explorers and producers globally. The shift is expected to put pressure on the share performance of key companies including Woodside Petroleum, Santos, Oil Search, Caltex Australia and Beach Energy, in which the Norwegian fund holds stakes worth hundreds of millions of dollars.

Canada’s NorthWest Healthcare Properties Real Estate Investment Trust, which is buying a halfstake in Healthscope’s property empire, may seek to dual-list its operations in Australia, with the prospect raised on its annual earnings call last weekend.

Page 18: Rio Tinto is nearing an investment decision on the feasibility phase for its big Jadar lithium and boron deposit in Serbia as it weighs an ambitious push into the battery materials market with first production slated for 2023.

Page 19: Sportsbet’s UK owner Paddy Power Betfair has warned that it faces an almost $100 million hit from the new wagering taxes rolled out across Australia.

Canadian giant Brookfield will seek out an investment partner to back its $800 million development of a new headquarters for US energy giant Chevron in Perth.

Page 20: Oil and gas heavyweight Woodside Petroleum experienced a rise in allegations of improper behaviour last year, with the company terminating the employment of 11 workers for behavioural breaches.

 

 

The West Australian

Page 3: Perth’s world-famous Sculpture by the Sea exhibition could be over for good after this week, organisers have warned. Founding director David Handley said the biggest free public art event in WA cost $2.3 million to stage at Cottesloe beach and the small, not-forprofit organisation was unable to find the funds to continue.

Elite sports and the arts industry will get a big boost under a plan to allow talented foreigners to live and work in Australia for longer.

Page 4: WA Liberal members have snubbed calls from Julie Bishop to choose a moderate candidate for the blue-ribbon seat of Curtin, backing former vice-chancellor of Notre Dame University Celia Hammond to become its newest MP.

Page 7: The study plans of thousands of WA high school students have been thrown into disarray after the national regulator deregistered one of WA’s biggest vocational education and training providers.

Page 10: The Federal Government yesterday announced a $50 million boost for research on improving the recovery of patients as well as developing new technologies.

Page 15: Primary school principals are calling for help to deal with pushy parents who make online threats and serial complainers who clog their inboxes with many time-wasting emails.

Page 16: One of Australia’s biggest health charities, the Heart Foundation, has been criticised over a series of forced redundancies, including that of a respected Aboriginal health manager.

Page 18: There is a heart and plenty of fight left in Beaufort Street business owners who are staring down claims their beloved strip is in the throes of crisis.

Business: A WA Spanish-focused uranium play and a Perth-founded aerial mapping company making waves in the US are set to take out starting honours as this year’s hottest stocks.

WA’s biggest dairy farmer Ross Woodhouse has urged shoppers to boycott Coles and Aldi home-brand milk, hoping it will lead to the supermarket giants paying producers a fairer price.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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