04/07/2019 - 06:57

Morning Headlines

04/07/2019 - 06:57

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Morning Headlines

Investors lurk for North West Shelf shake-up

A potential shake-up in ownership flagged by Woodside Petroleum at the $30 billion North West Shelf venture in Western Australia is likely to have caught the eye of long-term investors keen for a bigger slice of the country’s prime energy infrastructure. The Fin

Alinta gas supply deal clears the way for Waitsia plant expansion

Western Australia’s biggest gas retailer, Alinta, has become the first long-term customer for gas from the high-profile Waitsia field north of Perth, but the state’s weak domestic gas market is expected to mean a proposed major expansion of production is not an immediate prospect. The Fin

Tax cut windfall on the way

Australians could receive $1080 in their bank accounts from as early as next week after the Federal Government last night secured the support of key Senate crossbenchers for the passage of its legislation through the Upper House today. The West

Assistant Treasurer pushes back on lending curbs

Assistant Treasurer Michael Sukkar will press financial regulators to review their restrictions on bank lending to help ease a credit squeeze and to ‘‘get credit flowing’’ to home borrowers. The Fin

Samsung pulls bid for Perth start-up

Electronics giant Samsung launched a takeover bid for a Perth-based earbud start-up but pulled the deal after realising disclosure documents had to be submitted to the ASX. The Fin

Australia faces woes if global recession hits

Economist Ross Garnaut warns that Australia will be hit far worse from a trade war than expected, with the $60 billion agricultural sector among the most exposed by the prospect of a global recession. The Fin

Realside pays $38m for Perth’s Colonnade

West Australian property fund manager Realside has acquired the high-profile mixed-use retail and office complex The Colonnade in Perth’s Subiaco for $37.85 million. The Fin

Miners in push for tax credits

Australia’s mining lobby will push the Federal Government to continue a $100 million tax concession for junior mining investors it hopes will help reverse the nation’s poor greenfields discovery rates. The West

Lower deeming rates ‘long overdue’

Scott Morrison is on track to announce a long overdue reduction to high deeming rates as soon as next week after an outcry from retirees grappling with negative returns after inflation on a quarter of all term deposits. The Aus

Metronet tax gets the axe

The property sector is rejoicing after the State Government ditched a controversial plan to tax Metronet apartment developments to help pay for the new rail network. The West

 

 

The Australian Financial Review

Page 1: Assistant Treasurer Michael Sukkar will press financial regulators to review their restrictions on bank lending to help ease a credit squeeze and to ‘‘get credit flowing’’ to home borrowers.

Page 3: Economist Ross Garnaut warns that Australia will be hit far worse from a trade war than expected, with the $60 billion agricultural sector among the most exposed by the prospect of a global recession.

Page 4: The Coalition government is looking at reducing deeming rates for part pensioners in an effort to boost welfare payments for those whose private incomes have been hit by record low interest rates.

Page 6: Media chiefs have resigned themselves to an inquiry into press freedom that will be limited to national security laws’ curbs on reporting rather than a wider probe tackling defamation reform, whistleblower protection and the bureaucratic culture of secrecy.

Page 7: Monthly iron ore exports busted through the $10 billion mark for the first time and building approvals data beat market expectations yesterday.

Page 9: Renewable energy supplied more power to the market than brown coal this financial year just ended for the first time, however price relief for consumers is still to come as wholesale prices rose since last year.

Page 12: Former chief executive and director of Sirtex Medical, Gilman Wong is staring at a jail sentence after pleading guilty to insider trading.

Page 15: Embattled telco Vocus Group has predicted flat earnings for the 2020 financial year, with a contraction of its retail business set to cancel out modest growth in the company’s core network operations.

Electronics giant Samsung launched a takeover bid for a Perth-based earbud start-up but pulled the deal after realising disclosure documents had to be submitted to the ASX.

Page 19: A potential shake-up in ownership flagged by Woodside Petroleum at the $30 billion North West Shelf venture in Western Australia is likely to have caught the eye of long-term investors keen for a bigger slice of the country’s prime energy infrastructure.

Western Australia’s biggest gas retailer, Alinta, has become the first long-term customer for gas from the high-profile Waitsia field north of Perth, but the state’s weak domestic gas market is expected to mean a proposed major expansion of production is not an immediate prospect.

Mining entrepreneur Gina Rinehart’s hunt for copper and gold in Ecuador has taken a dramatic turn amid reports of a police operation to clear her company’s acreage of illegal miners.

Page 29: West Australian property fund manager Realside has acquired the high-profile mixed-use retail and office complex The Colonnade in Perth’s Subiaco for $37.85 million.

 

 

The Australian

Page 1: The Morrison government has locked in the crossbench support it needs to have its $158 billion personal income tax package legislated today when the Senate votes on the plan to deliver further financial relief for about 10 million workers.

Page 3: A natural sun cycle will add 2.5C warming to Earth’s climate in coming centuries on top of any impact from rising greenhouse gases in the atmosphere, new research has found.

Page 4: Scott Morrison is on track to announce a long overdue reduction to high deeming rates as soon as next week after an outcry from retirees grappling with negative returns after inflation on a quarter of all term deposits.

Page 17: Billionaire Bruce Mathieson has consolidated his position as Australia’s pubs and booze supremo, emerging with a stake worth up to $2 billion in hotel and liquor giant Endeavour Group after striking a deal with Woolworths that puts the supermarket business on the path to exiting its controversial link to poker machines.

Page 19: Vocus boss Kevin Russell is confident the telco’s retail broadband business can weather the ill effects of the National Broadband Network, with a greater focus on mobile services on the cards for Australia’s fourth-biggest internet provider.

Kitchen equipment rental provider Silver Chef is set to be bought out by a private equity consortium led by Next Capital in a $12.5 million deal revealed yesterday.

Page 20: The stoush between IOOF and the Australian Prudential Regulation Authority ramped up yesterday, as former chief Chris Kelaher’s legal team accused the regulator of having an “unhinged hatred” of him.

 

 

The West Australian

Page 4: Australians could receive $1080 in their bank accounts from as early as next week after the Federal Government last night secured the support of key Senate crossbenchers for the passage of its legislation through the Upper House today.

Page 9: Train and bus commuters face a $96 hike in transport costs this year after Transperth fares for some trips increased by nearly three times the rate of inflation this week.

Page 11: Premier Mark McGowan has declared Cottesloe beach ready for a facelift and has thrown his support behind a concept prepared by Kerry Hill Architects for a revamp of the Indiana site.

Another significant West Australian site — the Old Swan Brewery — is being returned to WA hands with Andrew and Nicola Forrest’s Minderoo Group buying the lease.

Page 14: The property sector is rejoicing after the State Government ditched a controversial plan to tax Metronet apartment developments to help pay for the new rail network.

Business: The value of Andrew Forrest’s holding in Fortescue Metals Group has reached $10 billion for the first time.

Gindalbie Metals has finally closed the book on the 15-year disaster that was its Karara project despite reluctance among some shareholders to let go of the underperforming asset.

Australia’s mining lobby will push the Federal Government to continue a $100 million tax concession for junior mining investors it hopes will help reverse the nation’s poor greenfields discovery rates.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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