13/03/2019 - 06:52

Morning Headlines

13/03/2019 - 06:52

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WA resources projects ‘face endless court’

West Australian resources projects face the same nightmare scenario of protracted and expensive court challenges that has plagued Adani’s coal mine in Queensland as a result of the controversial ruling on carbon emissions by the Environmental Protection Authority, legal and LNG industry sources fear. The Fin

Newcrest keen on Paterson

Newcrest Mining has signalled a commitment to its low-grade Telfer gold mine in the East Pilbara by striking a $90 million exploration farm-in agreement with Greatland Gold in the highly prospective Paterson province. The West

Gas behemoths register foreign influence ties

Gas giants Woodside and Shell are the first major companies to register as agents of foreign influence under the Morrison government’s new transparency scheme on overseas interests attempting to sway political decision-making, amid claims businesses remain uncertain over their obligations. The Fin

Labor bows to hospital funding push

Labor is buckling under state demands for a multi-billion-dollar increase in public hospital funding, despite already planning to top up the existing Coalition contribution with lucrative infrastructure grants. The Aus

ACTU wants ‘living wage’ in two years

Unions are urging the Fair Work Commission to sideline its concerns about pricing marginalised workers out of jobs and lift the minimum wage by 11.5 per cent over the next two years to a "living wage" of nearly $42,000 a year. The Fin

Costs push up lamb, beef prices

WA shoppers are paying more for red meat as surging international demand, the Eastern States drought, and higher grain prices push up prices. The West

Aussie gold turns tables on North Americans

The Australian gold sector is in great shape in comparison to its global peers because money talks, according to Evolution Mining boss Jake Klein. The Fin

Murdoch media calls for Google break-up

News Corp Australia has called for the top competition regulator to break up Google’s operations to curb the technology company’s ‘‘abuse’’ of its ‘‘dominant’’ market power. The Fin

Taxpayers hit with failed wave project

A taxpayer-backed wave energy project that was supposed to power West Australian homes and create hundreds of jobs in renewables has been scrapped, after the McGowan Labor government cut its losses yesterday. The Aus

 

 

The Australian Financial Review

Page 1: Unions are urging the Fair Work Commission to sideline its concerns about pricing marginalised workers out of jobs and lift the minimum wage by 11.5 per cent over the next two years to a "living wage" of nearly $42,000 a year.

Page 3: After declaring victory over the retail funds, industry super is turning its sights on the self-managed sector. The chief executive of AustralianSuper, Ian Silk, is calling for an inquiry to protect DIY investors from inferior returns.

Page 5: Gas giants Woodside and Shell are the first major companies to register as agents of foreign influence under the Morrison government’s new transparency scheme on overseas interests attempting to sway political decision-making, amid claims businesses remain uncertain over their obligations.

Page 7: BHP has asked the High Court for leave to appeal a new $82 million tax bill, ordered after a Federal Court judgment that took the miner’s total costs from its Singapore marketing arm to more than $611 million.

Page 11: The British government said on Monday (Tuesday AEDT) that frenzied last-minute diplomacy had won ‘‘legally binding changes’’ to overcome a roadblock in its divorce deal with the European Union, hours before Parliament was due to decide the fate of Prime Minister Theresa May’s hard won agreement – and of Britain’s departure from the EU.

Page 12: More than a dozen airlines along with the governments of China and Indonesia grounded a new version of Boeing’s most popular jet on Monday, as the American aerospace giant scrambled to deal with the fallout from a deadly plane crash in Ethiopia.

Page 13: West Australian resources projects face the same nightmare scenario of protracted and expensive court challenges that has plagued Adani’s coal mine in Queensland as a result of the controversial ruling on carbon emissions by the Environmental Protection Authority, legal and LNG industry sources fear.

Timor-Leste will turn to Chinese capital to develop its multibillion-dollar Sunrise onshore LNG project only if its ‘‘friends’’ in Australia, the United States, Japan and Korea decide against the investment and leave it no choice, the emerging nation’s ambassador to Australia says.

Page 16: The chief executive of ticketing app TodayTix, Brian Fenty, says he supports Labor’s federal election promise to ban ticket scalping and ticket bots because they are making it harder for Millennials and low-income Australians to see arts and theatre events.

Page 18: NAB Limited has repaid customers another $110 million since June last year, taking customer compensation for the past 18 months to more than half a billion dollars.

Page 19: The Australian gold sector is in great shape in comparison to its global peers because money talks, according to Evolution Mining boss Jake Klein.

RCR Tomlinson’s creditors will find out next Tuesday why the engineering group collapsed suddenly, when its administrators release the results of their investigation into the company’s demise.

Page 20: News Corp Australia has called for the top competition regulator to break up Google’s operations to curb the technology company’s ‘‘abuse’’ of its ‘‘dominant’’ market power.

 

 

The Australian

Page 1: Bill Shorten has launched a fresh assault in his war on business, branding employers as “fat cats” for criticising Labor’s wages policy and threatening to impose once-in-a-generation changes that would force the industrial umpire to deliver bigger pay rises to 2.3 million workers.

Page 2: Labor is buckling under state demands for a multi-billion-dollar increase in public hospital funding, despite already planning to top up the existing Coalition contribution with lucrative infrastructure grants.

Australia could face a capability gap in its vitally important submarine fleet following troubled negotiations with French shipbuilder Naval Group to build 12 next-generation submarines, opposition defence spokesman Richard Marles says.

Page 4: The chief economists of the Commonwealth Bank and AMP, Michael Blythe and Shane Oliver, have canvassed bringing forward the government’s $144 billion tax cut plan, currently to be phased in over seven years, and doubling the tax cuts factored into the latest budget update.

Page 9: A taxpayer-backed wave energy project that was supposed to power West Australian homes and create hundreds of jobs in renewables has been scrapped, after the McGowan Labor government cut its losses yesterday.

Page 19: EnergyAustralia, one of the nation’s top three electricity operators, says the federal government’s plan to underwrite power generation could jeopardise its own $1 billion project pipeline this year by adding a new layer of interventionist risk to the industry.

Page 21: Virgin Australia has given its first indication it may reassess its order for 737 MAX 8s depending on the outcome of investigations into two recent fatal crashes.

Page 22: Barrick Gold and Newmont Mining have agreed to form a joint venture, a move that cancels Barrick’s offer of almost $US18 billion ($25.5bn) to buy its rival and which creates in Nevada the world’s single largest gold-producing operations.

Newcrest Mining has pounced on one of the most exciting mineral discoveries in Australia in recent years, striking a deal that will see it pump $US65 million ($92m) into the Haveiron copper-gold project in Western Australia’s Paterson Range.

 

 

The West Australian

Page 14: Work to replace potentially flammable aluminium cladding at King Edward Memorial Hospital has started, after an audit of the building in response to the Grenfell Tower fire tragedy in London.

At least $70 million of taxpayers’ money has been given or committed to wave power firm Carnegie Clean Energy, which is fighting for survival after the State Government yesterday pulled funding for its latest project.

Page 16: WA shoppers are paying more for red meat as surging international demand, the Eastern States drought, and higher grain prices push up prices.

Page 18: Three WA childcare centres have been slapped with thousands of dollars in fines after young children left the centres unnoticed, with one toddler walking in front of cars on a busy road.

Business: Newcrest Mining has signalled a commitment to its low-grade Telfer gold mine in the East Pilbara by striking a $90 million exploration farm-in agreement with Greatland Gold in the highly prospective Paterson province.

The Gorgon LNG project has moved closer to installing the world’s second subsea compression facility to maintain gas flow to its five LNG trains on Barrow Island.

WA family-owned pie company Mrs Mac’s is turning to full automation in a bid to remain competitive and keep its main business operations in WA, but there will be job losses.

There was no sign of easing domestic growth headwinds yesterday as the slowdown in mortgage lending continued to drive business and consumer confidence into a negative feedback cycle.

Perth’s allure as a destination with compelling attractions, not just a supply of five-star hotels, is the vital ingredient to the recipe for tourism success.

Cedar Woods, Peet and Satterley have asked the City of Wanneroo to repay more than $20 million wrongly charged to them as a result of what they allege is “mismanagement” of a developer contribution scheme.

Commercial property investor and ASX-listed Centuria Industrial Real Estate Investment Trust yesterday revealed it had settled its $18 million purchase of an 11,067sqm Canning Vale warehouse.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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