14/01/2020 - 06:40

Morning Headlines

14/01/2020 - 06:40

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Morning Headlines

Altura’s fearless approach put to test

Altura Mining is set to launch the first test of the market for Australian lithium miners for the new year, kicking off a $US160m ($231m) debt refinancing to see it through to a hoped-for market recovery. The Aus

Perenti Global joins race for Downer’s mining unit

Perenti Global is the latest suitor circling Downer’s mining services division, which is up for sale through investment bank Macquarie Capital. The Aus

Scott Park forced to give up controlling stake

High-profile builder Scott Park has lost the controlling stake in his eponymous company after selling 51 per cent to Japanese multinational Sumitomo Forestry Co. The West

Technology is the key to climate policy

The Morrison government will rely on investments in low-emissions technologies to beat its 2030 emissions reduction target, holding out the likelihood that Kyoto carry-over credits won’t be needed to meet its international commitments. The Fin

Tech deal sealed

Perth-based Little Green Pharma, Australia’s first locally grown medicinal cannabis producer, has teamed up with Curtin University to develop a range of new medicinal cannabis products that could deliver more accurate and targeted treatment for a range of medical conditions. The West

China sells down stake in FMG

China’s Hunan Valin has again taken advantage of a rally in Fortescue Metals Group’s share price to sell a 1.27 per cent stake in the Andrew Forrest-controlled iron ore miner. The West

ASIC widens culture, pay crackdown

The corporate regulator will extend a crackdown on boards, culture and pay from the banks to other big listed companies, as chairman James Shipton vows to use new powers and resources to tackle misconduct before it occurs. The Fin

AMP takes axe to post-Hayne super suite

AMP will reduce its superannuation fund offering by 70 per cent, bowing to political pressure to simplify its business model and cut fees for members as it looks set to become Australia’s fourth-largest super provider by 2024. The Fin

Red alert for China at summit

A Federal Government MP will use Australia’s bushfire crisis to pick a fight with China over its commitment to global carbon emissions reduction. The West

 

 

The Australian Financial Review

Page 1: The corporate regulator will extend a crackdown on boards, culture and pay from the banks to other big listed companies, as chairman James Shipton vows to use new powers and resources to tackle misconduct before it occurs.

The former Supreme Court judge who ran the Black Saturday royal commission says it is essential that the impact of climate change be part of an inquiry into the 2019-20 bushfires and has warned against any move to restrict its terms of reference.

Page 2: Siemens will be targeted by protests at its annual general meeting next month after the German conglomerate resisted pressure from environmental activists, including Greta Thunberg, and said it would continue to work with Adani on a 200-kilometre rail link to its Carmichael coal mine.

Page 3: The Morrison government will rely on investments in low-emissions technologies to beat its 2030 emissions reduction target, holding out the likelihood that Kyoto carry-over credits won’t be needed to meet its international commitments.

The lobby group for the financial sector has slammed new rules requiring firms to record all hours of salaried employees as a ‘‘retrograde’’ move from the last century that could discourage flexible work, cut bonuses and increase casual contracts.

Page 7: Just seven countries have officially signed up to the US-led coalition to protect oil tankers from Iranian attack in the Middle East, as Australia’s contribution set sail from Perth yesterday.

Hundreds of wharfies have launched industrial action across DP World’s ports as the Maritime Union pushes for veto power over company decisions on automation or outsourcing.

Page 12: AMP will reduce its superannuation fund offering by 70 per cent, bowing to political pressure to simplify its business model and cut fees for members as it looks set to become Australia’s fourth-largest super provider by 2024.

Some of Australia’s top chief executives have hit out at the competition watchdog’s call to drop hurdle rates or risk missing investment opportunities to foreign raiders.

Page 14: Woolworths Group has bought a majority stake in corporate drinks delivery business Shorty’s Liquor, which will sit alongside other alcohol-related ventures in the soon-to-be demerged Endeavour Drinks.

A2 Milk’s chief technical officer (CTO), Phil Rybinski, has resigned from his position as management is further shuffled at the milk and infant formula group.

 

 

The Australian

Page 1: Patients with mental health problems, chronic disease and undergoing rehabilitation will be increasingly diverted out of hospitals and cared for in the home, with growing evidence of better care outcomes and greater cost efficiencies for governments.

Page 5: The nation’s peak food and grocery lobby group has signalled the bushfire disaster could impact the price of raw materials for manufacturers, as economists warn of a spike in meat prices.

Page 13: Increasingly frequent natural disasters due to climate change could hurt the credit ratings of both the federal government and Australia’s state governments, influential ratings agency Moody’s Investors Service has warned.

Page 14: Perenti Global is the latest suitor circling Downer’s mining services division, which is up for sale through investment bank Macquarie Capital.

Page 15: The malaise gripping the nation’s $320bn retail sector has claimed another victim, with voluntary administrators for the Co-Op Bookshop unable to find a buyer for its Curious Planet arm.

Page 18: Altura Mining is set to launch the first test of the market for Australian lithium miners for the new year, kicking off a $US160m ($231m) debt refinancing to see it through to a hoped-for market recovery.

 

 

The West Australian

Page 4: A Federal Government MP will use Australia’s bushfire crisis to pick a fight with China over its commitment to global carbon emissions reduction.

Page 5: The Coalition remains divided on its emissions reduction strategy, with some MPs calling for an increase to the current target, while others think Australia is doing enough to combat climate change.

Page 10: Patients in Fiona Stanley’s burns unit have been moved from the high-care area after a fault was detected in the world-class facility’s humidifier system.

Page 11: Bikies, paedophiles and drug traffickers could face up to five years in jail for communicating with other convicted criminals under proposed anti-consorting legislation.

Page 18: An axe-throwing venue in Perth has been granted a liquor licence — but players will only be allowed to drink alcohol after their game.

Business: High-profile builder Scott Park has lost the controlling stake in his eponymous company after selling 51 per cent to Japanese multinational Sumitomo Forestry Co.

China’s Hunan Valin has again taken advantage of a rally in Fortescue Metals Group’s share price to sell a 1.27 per cent stake in the Andrew Forrest-controlled iron ore miner.

Takeover activity in Australia has plunged to a six-year-low, despite a blitz of big deals in WA, as companies look further afield for growth.

Perth-based Little Green Pharma, Australia’s first locally grown medicinal cannabis producer, has teamed up with Curtin University to develop a range of new medicinal cannabis products that could deliver more accurate and targeted treatment for a range of medical conditions.

The Australian sharemarket has pulled back after breaking through its all-time highs on Friday, with Australia’s biggest companies dipping the most.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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