18/10/2019 - 06:43

Morning Headlines

18/10/2019 - 06:43

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Morning Headlines

Power to the people in our N-W

The West Australian economy and resources sector will be boosted to the tune of $221 million as a result of a major energy project to be funded by the Federal Government. The West

Santos chases Dorado discovery after record quarterly production

Santos is racing to develop its Dorado discovery off Western Australia after posting record output in the September quarter and forecasting a further decline in its break-even point once its $2.2 billion purchase of ConocoPhillips’ assets completes. The Fin

‘Get on with it’: McGowan

Mark McGowan has waded into a stand-off threatening to delay $46 billion of LNG projects off the State’s north-west, urging BHP and Chevron to strike gas processing deals “as a priority”. The West

BHP holds out against activist push

BHP chief Andrew Mackenzie has held firm over the mining giant’s membership of mining industry associations in the face of pressure from activist shareholders to quit groups seen as opposing action on climate change. The Aus

RBA tips housing shortfall on the way

A housing shortfall is ‘‘quite likely’’ in the foreseeable future and that would trigger a ‘‘larger price response’’ in property values, says Reserve Bank deputy governor Guy Debelle.

RM Williams reboots as demand steps up from fast-fashion victims

RM Williams will more than double production capacity to meet rising demand, in part coming from a younger age bracket spurning the throwaway approach of ‘‘fast-fashion’’ chains. The Fin

Energy sector seeks carbon storage credits

Big energy and industrial companies have called for changes to the Morrison government’s $2 billion Climate Solutions Fund that would allow tradeable carbon credits to be issued to companies storing carbon dioxide underground. The Fin

Premier: banks to blame not us

Premier Mark McGowan believes an “overreaction” to the banking royal commission is preventing buyers from securing loans, contributing to the dire state of the WA property market. The West

TV networks join forces on ad platform

Nine, Seven West Media, Network Ten, Foxtel and SBS have put traditional rivalries aside to develop a new joint platform which will allow media agencies to buy advertising across commercial television in one place. The Fin

Woodside near crunch time on LNG in WA

Woodside Petroleum is set for a hectic end of year as it sticks with fourth quarter targets for milestone decisions on the $30 billion Browse LNG project in Western Australia and a $3 billion oil project in Senegal, despite numerous agreements to nail down with venture partners. The Fin

 

 

The Australian Financial Review

Page 1: Coal-fired generators have called for ‘‘sufficient notice’’ before a major power consumer like an aluminium smelter is allowed to exit the National Electricity Market, amid signs that smelters in three states were in danger of closure.

Page 3: The Australian Taxation Office is seeking to bankrupt Chinese billionaire Huang Xiangmo and will consider court action in Hong Kong to recover his $140.9 million tax bill, the Federal Court heard in Sydney yesterday.

RM Williams will more than double production capacity to meet rising demand, in part coming from a younger age bracket spurning the throwaway approach of ‘‘fast-fashion’’ chains.

Page 4: A housing shortfall is ‘‘quite likely’’ in the foreseeable future and that would trigger a ‘‘larger price response’’ in property values, says Reserve Bank deputy governor Guy Debelle.

A small drop in the unemployment rate has stiffened the government’s resolve to not bring forward economic stimulus amid rising pressure to act.

Page 6: The federal government will consider minor changes to the free trade agreement with Indonesia after Labor agreed to back it although it requested some tweaks to quell internal dissent.

Page 7: The Tax Practitioners Board is aggressively targeting 2000 accountants who overclaimed more than $1 billion of work expenses for their clients last year, chairman Ian Klug says.

Page 8: Big energy and industrial companies have called for changes to the Morrison government’s $2 billion Climate Solutions Fund that would allow tradeable carbon credits to be issued to companies storing carbon dioxide underground.

Page 9: The corporate regulator has raised concerns about the ‘‘potential conflicts’’ from the separate purchases of insolvency firms by PwC and KPMG, in its submission to the parliamentary inquiry into audit quality.

Page 10: US presidential candidate Joe Biden’s foreign policy adviser has backed Australia blocking Chinese business acquisitions and called on the Morrison government to increase defence spending to help limit China’s rise.

Page 13: AMP chief executive Francesco De Ferrari has repudiated the Australian wealth management industry’s historic preoccupation with product sales, and intends to turn the company into a provider of ‘‘holistic advice’’.

Page 15: Nine, Seven West Media, Network Ten, Foxtel and SBS have put traditional rivalries aside to develop a new joint platform which will allow media agencies to buy advertising across commercial television in one place.

Page 17: The failed Latitude Financial float has revealed the fallout from the Hayne royal commission has gone global, after sources close to the deal said investors in the United States and Asia fretted that emboldened Australian regulators could further clamp down on lending obligations.

Page 18: Woodside Petroleum is set for a hectic end of year as it sticks with fourth quarter targets for milestone decisions on the $30 billion Browse LNG project in Western Australia and a $3 billion oil project in Senegal, despite numerous agreements to nail down with venture partners.

Santos is racing to develop its Dorado discovery off Western Australia after posting record output in the September quarter and forecasting a further decline in its break-even point once its $2.2 billion purchase of ConocoPhillips’ assets completes.

Page 19: BHP will spend a further $US345 million ($510 million) on its polarising Canadian potash project, saying the spending is required to help it decide whether to go ahead with a full development of the mine costing more than $US5 billion.

Hundreds of jobs at South32’s manganese alloy smelter in Tasmania are in the balance as the company continues to weigh up options for the underperforming and ageing asset.

 

 

The Australian

Page 1: The EU has agreed to a historic, long-awaited Brexit deal with Boris Johnson, but the British Prime Minister must now convince doomsayer MPs in Westminster to support the pact.

Page 2: A “temporary” drop in the jobless rate will give the Reserve Bank room to breathe before any further cuts to the official cash rate.

Page 3: Qantas will fly into the history books at the weekend when a passenger jet carrying 50 people travels from New York to Sydney non-stop in the first Project Sunrise test flight.

Page 5: Stuart Robert embarked on a nationwide search for the National Disability Insurance Agency’s new chief executive only to appoint Martin Hoffman, who had already worked extensively for the National Disability Insurance Scheme Minister.

Page 17: BHP chief Andrew Mackenzie has held firm over the mining giant’s membership of mining industry associations in the face of pressure from activist shareholders to quit groups seen as opposing action on climate change.

Ensuring Australia has the right skills for the future is the No 1 issue facing the economy, according to incoming Business Council of Australia president Tim Reed.

Page 19: Australia’s biggest life insurers will be forced to overhaul junk policies sold automatically to casual workers at high risk of injury under threat of litigation, after the corporate watchdog found “significant industry-wide problems” with default insurance and “concerningly high” claims rejections rates.

The James Packer-backed Crown Resorts has reached agreement with the Australian Taxation Office to settle a long-running tax dispute for a sum far below the more than $400m, including penalties and interest, being sought by the ATO.

Page 21: Perpetual chief executive Rob Adams has acknowledged it was a “difficult year” for the Australian fund manager after it suffered a series of outflows.
Page 27: The resources and tech sectors dragged the market lower yesterday, winding back Wednesday’s broad 1.3 per cent rally, and snapping a five-day winning streak.

 

 

The West Australian

Page 3: Bunnings is looking at adding licence plate recognition to a growing arsenal of technology aimed at limiting theft from its network of more than 370 stores.

Page 5: Premier Mark McGowan believes an “overreaction” to the banking royal commission is preventing buyers from securing loans, contributing to the dire state of the WA property market.

Page 8: The West Australian economy and resources sector will be boosted to the tune of $221 million as a result of a major energy project to be funded by the Federal Government.

A war has erupted between the WA and Federal governments on jobs, with Federal Employment Minister Michaelia Cash and State Transport Minister Rita Saffioti at loggerheads over who is causing most delay in getting more West Australians employed in decent work.

Page 9: Unions have accused Labor of abandoning Australian workers after the opposition backed free trade deals struck with Indonesia, Hong Kong and Peru.

Page 20: The majority of MPs who were undecided about voluntary assisted dying have now come out in support of the legislation.

Business: Mark McGowan has waded into a stand-off threatening to delay $46 billion of LNG projects off the State’s north-west, urging BHP and Chevron to strike gas processing deals “as a priority”.

Wisetech Global has become the latest Australian company to be targeted by overseas shortsellers, with a US-based firm accusing the high-flyer of suspect accounting.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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