29/01/2020 - 06:55

Morning Headlines

29/01/2020 - 06:55

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$1b wiped from Forrest fortune

Fears that iron ore demand will be hurt by China’s tough measures to contain the coronavirus outbreak have snapped a massive rally for Fortescue Metals Group. The Fin

Stalemate on $20bn PNG gas project

A $20bn gas expansion plan in Papua New Guinea pursued by Australia’s Oil Search and US energy giant ExxonMobil could be canned unless the companies are prepared to offer more generous terms to the government, Petroleum Minister Kerenga Kua has warned. The Aus

Emeco closes on Pit N Portal

Australian underground mining services company Pit N Portal has caught the eye of deal-hungry Emeco Holdings. The Fin

Tower will be Quay stand-out

The biggest city building project of the year will start today when Premier Mark McGowan breaks ground for the Chevron headquarters at Elizabeth Quay. The West

PM wants power for emergencies

Scott Morrison says legislative change is needed to enable the federal government to declare a national state of emergency and deploy whatever resources it deems necessary after it was caught flat-footed in responding to the current bushfire crisis. The Fin

Massive solar power boost

National property funds manager Primewest has unveiled its biggest solar energy system to date, as part of its renewable energy rollout at more than 70 shopping centres, big-format retail and industrial sites around the country. The West

Stockbrokers blast ‘flawed’ LIC fee debate

Politicians, regulators and media commentators have waged a campaign of misinformation on listed investment fund fees, says the stockbroking industry’s chief lobbyist, as a four-week government review of the sector kicks off. The Fin

Woolies set to boost profits, UBS says

Woolworths could expand its market more than twofold and double profits from new businesses such as advertising, financial services and wholesaling by taking advantage of its strong brand, customer data and stores, a report by investment bank UBS says. The Fin

Team up to lift price of milk

Agriculture Minister Alannah MacTiernan wants the State’s dairy farmers to collectively bargain with WA’s milk processors to ensure a fairer price. The West

Retail heat cooks bakeries

A string of Bakers Delight stores across WA have had to close their doors amid tough market conditions. The West

 

 

The Australian Financial Review

Page 1: Australia’s close business links to China, which proved so successful in supporting the economy in its record-breaking run of growth, have emerged as a major risk to growth and earnings as the coronavirus outbreak gathers pace.

Scott Morrison says legislative change is needed to enable the federal government to declare a national state of emergency and deploy whatever resources it deems necessary after it was caught flat-footed in responding to the current bushfire crisis.

Page 3: AustralianSuper ran down its reserves for administration expenses to significantly lower levels than competitors in recent years before it recently announced fee increases to cover administrative costs.

Page 4: Sport Australia complained to the office of Bridget McKenzie that its independence was being compromised by the minister ignoring its recommendations for funding community organisations, according to emails obtained by the ABC.

Page 5: The Auditor-General has joined the barrage of criticism over the increasing politicisation of the military, telling Defence chiefs to develop protocols for personnel to safeguard their impartiality when appearing alongside ministers.

Page 7: More chief executives will go on a technology and capital investment strike this year than in any year since 2015, due to concerns about consumer demand.

Page 10: The rapid spread of the coronavirus in China and around the world has sent Facebook, Google and Twitter scrambling to prevent a different sort of malady – a surge of half-truths and outright falsehoods about the deadly outbreak.

Page 13: Mining regulators have launched fresh investigations into a 2018 incident in which a BHP coal worker survived being trapped up to his chest in water, and filed charges against the company over a subsequent incident in which a mine worker died in a pool of water.

Politicians, regulators and media commentators have waged a campaign of misinformation on listed investment fund fees, says the stockbroking industry’s chief lobbyist, as a four-week government review of the sector kicks off.

Page 14: Australian underground mining services company Pit N Portal has caught the eye of deal-hungry Emeco Holdings.

Page 15: Woolworths could expand its market more than twofold and double profits from new businesses such as advertising, financial services and wholesaling by taking advantage of its strong brand, customer data and stores, a report by investment bank UBS says.

Page 16: Corporate debt manager Metrics Capital Partners is seeking to raise $638 million for its pre-existing listed loan fund, taking its total size to almost $2 billion.

Page 17: Buy now pay later providers such as Afterpay, Latitude and Openpay would cap late fees and introduce stricter customer screening under a draft code of practice the industry hopes will answer calls for stricter consumer protections.

Page 18: Fears that iron ore demand will be hurt by China’s tough measures to contain the coronavirus outbreak have snapped a massive rally for Fortescue Metals Group.

 

 

The Australian

Page 4: Chinese-Australian businesses say they are struggling to survive a collapse in customer numbers as the coronavirus overshadows the Lunar New Year festivities.

Page 5: Pharmacists are being urged to check whether customers with flu-like symptoms have been overseas in the latest measure to strengthen Australia’s response to the coronavirus.

Page 17: Telstra spent more than a year plotting a radical shift to its payment terms designed to move its smaller and medium-sized suppliers on to so-called supply-chain financing before informing them of the change.

A $20bn gas expansion plan in Papua New Guinea pursued by Australia’s Oil Search and US energy giant ExxonMobil could be canned unless the companies are prepared to offer more generous terms to the government, Petroleum Minister Kerenga Kua has warned.

Page 21: Broker Bell Potter has downgraded insurer IAG, while a number of analysts have cut their price targets for the company after it warned its earnings would take a hit following the hailstorms that lashed the east coast earlier this month.

 

 

The West Australian

Page 7: Australians could be flown out of Wuhan as early as this week with Cabinet today expected to consider logistics to bring hundreds of Aussies home from the centre of the coronavirus outbreak.

Page 9: The scale of the State’s meth problem has been laid bare by a report that shows more people in WA believe drugs are a problem in their neighbourhood than anywhere else in Australia.

Page 14: Tributes flowed last night for a mine worker who died at the Roy Hill iron ore operation in the Pilbara.

Page 16: One of Australia’s most senior spy chiefs has warned of a major cyber attack that could shut down essential services and send “shockwaves” through the economy.

Page 18: The collapse of Jeanswest has left almost 1000 workers more than $2.5 million out of pocket.

Page 20: Scott Morrison will today declare he wants to focus on building a more resilient Australia in the wake of recent natural disasters.

Page 22: The western suburbs both leads and lags a list of new multi-storey development, reflecting the wide divide in attitudes to density in the area.

Page 23: WA fisherman have been accused of conditioning sharks to act aggressively by throwing fish scraps into the ocean.

Business: The Australian Securities Exchange is preparing to dump up to dozens of WA companies from the trading boards under tougher listing rules targeting unacceptably long suspensions and reporting laggards.

Indoor Skydive Australia remains in talks with its bankers amid continuing delays to the sale of its Perth facility.

Agriculture Minister Alannah MacTiernan wants the State’s dairy farmers to collectively bargain with WA’s milk processors to ensure a fairer price.

A string of Bakers Delight stores across WA have had to close their doors amid tough market conditions.

The biggest city building project of the year will start today when Premier Mark McGowan breaks ground for the Chevron headquarters at Elizabeth Quay.

National property funds manager Primewest has unveiled its biggest solar energy system to date, as part of its renewable energy rollout at more than 70 shopping centres, big-format retail and industrial sites around the country.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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