15/08/2019 - 06:48

Morning Headlines

15/08/2019 - 06:48

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Lithium bust puts Bald Hill mine on edge

The lithium bust is threatening to claim its first casualty, with the operator of the Bald Hill mine suspended from trading amid fears it could run out of money within months and is close to breaching debt covenants. The Fin

BP worker safety fears ‘ignored’

BP’s Kwinana refinery in Western Australia was told its employees had serious health and safety concerns, three months before three workers were injured in a workplace incident, suffering burns and smoke inhalation. The Aus

Local companies eye EV materials prospects

A group of Australian companies is planning new industrial processing plants to produce key materials used in lithium-ion batteries, boosting Australia’s prospects of capturing more of the electric vehicle value chain. The Fin

Pig semen stink not over

The Australian pork industry is pushing for illegally imported genetics within a 2000-strong herd of super-sows at Pinjarra to be bred out, arguing the new owner Westpork has a big commercial advantage and is benefiting from the proceeds of crime. The West

AMP turns the screws on advisers

AMP is seeking to fast track the exit of aligned financial advisers out of the business over the next 12 months by radically re-writing the terms of a sale-back arrangement and forcing them into selling for far less than expected, according to documents seen by The Australian Financial Review. The Fin

Immunoglobulins: CSL tells rivals to lift supply

CSL has urged its competitors in the global immunoglobulin market to lift their game or risk demand significantly outstripping supply, after the local pharmaceuticals giant increased its market share to about 30 per cent in the last year. The Fin

Woolies calls for united retail sector voice

Major retailers including Woolworths are looking at joining the Australian Retailers Association to give the $310 billion sector a stronger voice in debates over industrial relations, tax reform and business regulation. The Fin

Taxman cracks down on offshore income

Offshore bank account holders have been being warned to come clean on foreign-sourced income after the Australian Taxation Office said it was using sophisticated analytics to identify undeclared income on $100 billion held in offshore accounts. The Aus

Spies in the press pack

Australia’s top intelligence agency says it fears spies are masquerading as journalists and holds legitimate concerns the profession is being “used nefariously” for foreign interference. The West

Egg farmers crack as supply runs dry

WA’s supply of eggs is the tightest in living memory, but the State’s struggling egg farmers are still being crippled by low prices, high feed costs and a push towards expensive cage-free production. The West

 

 

The Australian Financial Review

Page 1: AMP is seeking to fast track the exit of aligned financial advisers out of the business over the next 12 months by radically re-writing the terms of a sale-back arrangement and forcing them into selling for far less than expected, according to documents seen by The Australian Financial Review.

Page 3: The High Court has given the ATO a green light to use information stolen from Bermuda law firm Appleby as it investigates mining giant Glencore over a corporate restructure.

Page 4: A $300 million-plus hole is opening up in the federal budget due to the government’s ongoing inability to introduce a biosecurity levy that it first promised last year.

Page 6: The federal government will push to cut Australia’s smoking rate to less than 10 per cent by 2025 as part of new efforts to boost preventative health outcomes.

Page 8: A group of Australian companies is planning new industrial processing plants to produce key materials used in lithium-ion batteries, boosting Australia’s prospects of capturing more of the electric vehicle value chain.

Page 10: A former senior member of the Fair Work Commission has warned Australia is set to lose the productivity benefits of enterprise bargaining if Parliament does not reform the system.

Page 15: CSL has urged its competitors in the global immunoglobulin market to lift their game or risk demand significantly outstripping supply, after the local pharmaceuticals giant increased its market share to about 30 per cent in the last year.

Tabcorp chief executive David Attenborough has described suggestions that it should demerge its booming lotteries business as “total nonsense”, saying proponents underestimated the benefits the lotteries business got from the diversified group.

Page 18: Major retailers including Woolworths are looking at joining the Australian Retailers Association to give the $310 billion sector a stronger voice in debates over industrial relations, tax reform and business regulation.

Page 20: Twelve months after his abrupt departure as chief executive of AGL Energy, Andy Vesey has been named as the incoming head of financially troubled US utility Pacific Gas & Electric (PG&E).

Page 21: The lithium bust is threatening to claim its first casualty, with the operator of the Bald Hill mine suspended from trading amid fears it could run out of money within months and is close to breaching debt covenants.

Three litigation funders may combine to strengthen class actions against engineering group RCR Tomlinson, which left its shareholders penniless after collapsing last year, following a NSW Supreme Court hearing on Thursday.

 

 

The Australian

Page 1: Jacinda Ardern has challenged Scott Morrison to explain his government’s position on climate change to Pacific leaders as Australia fends off attacks over its domestic emissions policies despite committing $800 million to address global warming in the region.

Page 7: BP’s Kwinana refinery in Western Australia was told its employees had serious health and safety concerns, three months before three workers were injured in a workplace incident, suffering burns and smoke inhalation.

Page 17: Yield-hungry investors will be buoyed by the early signs of resilience across corporate Australia from the latest profit season.

Page 18: Investment bank JPMorgan is understood to be working as an adviser to Charter Hall on the $5.5 billion listed property group’s highly anticipated acquisition of a 49 per cent stake in the $1.5bn Australian property portfolio of Telstra.

Page 19: The head of wagering giant Tabcorp, David Attenborough, says the company continues to invest and improve its anti-money-laundering processes to meet the challenges of the future.

Offshore bank account holders have been being warned to come clean on foreign-sourced income after the Australian Taxation Office said it was using sophisticated analytics to identify undeclared income on $100 billion held in offshore accounts.

 

 

The West Australian

Page 3: Extinction Rebellion activists say they are willing to break the law and sacrifice their reputations before a major rally at State Parliament today to demand action on climate change.

Page 4: A parliamentary report has blown the lid on a Corruption and Crime Commission investigation of three former members of State Parliament.

Page 10: The mental health of babies, toddlers and pre-teens will be considered as part of the first strategy on reducing mental health issues in children aged 0-12, announced by the Federal Government yesterday.

Australia’s top intelligence agency says it fears spies are masquerading as journalists and holds legitimate concerns the profession is being “used nefariously” for foreign interference.

Page 22: The Kremlin has boasted it is winning the race to develop cutting-edge nuclear weapons, despite a mysterious rocket accident last week in northern Russia that caused a temporary spike in radiation levels.

Business: The Australian pork industry is pushing for illegally imported genetics within a 2000-strong herd of super-sows at Pinjarra to be bred out, arguing the new owner Westpork has a big commercial advantage and is benefiting from the proceeds of crime.

The company behind some of WA’s biggest shopping malls is seeing signs of a retail pick-up despite a $224 million hit against its local centres that blighted its annual results.

WA’s supply of eggs is the tightest in living memory, but the State’s struggling egg farmers are still being crippled by low prices, high feed costs and a push towards expensive cage-free production.

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