27/02/2014 - 04:33

Morning Headlines

27/02/2014 - 04:33

Bookmark

Save articles for future reference.
Morning Headlines

CBH backs eastern exposure

CBH has moved to head off grower concern about its investment strategy by bumping up spending on WA’s grain storage and handling network by $55 million to $185 million over the next 12 months. The West

Spain’s Duro Felguera fills hole left by Forge at Roy Hill

Gina Rinehart’s Roy Hill project has found a solution to the hole that was left by the collapse of mining services firm Forge Group, as Spanish company Duro Felguera is set to complete the $1.47 billion contract in partnership with Samsung C&T. The Fin

Central Pilbara train plan makes sense, Curtis says

Nick Curtis has waved away any suggestion he’s come too late to the Pilbara iron ore party, saying iron ore economics still make “unbelievable sense” and are strong enough to support his $2.2 billion upstart bid to build a new port and rail network in the Central Pilbara. The West

Push for $50bn defence spend

The Coalition will target a near doubling of the nation’s defence budget to $50 billion within a decade, under directions given to the authors of a white paper to be announced next month. The Aus

BC Iron flags strong dividend payday

BC Iron has flagged a full-year dividend at the higher end of its announced payout ratio should conditions in the iron-ore market persist. The Aus

Qantas to blame if jobs exported

Any decision by Qantas to send thousands of jobs offshore should the restrictions on the airline be lifted would be the responsibility of Qantas management, not the government, Prime Minister Tony Abbott said. The Fin

Drought plan has politics at centre: experts

A $320 million drought assistance package offering farmers low-interest loans is based on politics, not economics, experts say. The Fin

Huawei plans local charm offensive

The new Australian chief executive of Chinese communications giant Huawei says his company will become less secretive and double its marketing budget to boost the sales of its smartphones and tablets, despite being banned from the national broadband network over spying fears. The Fin

 

 

The Australian Financial Review

Page 1: There is growing speculation the Papua New Guinea government is agitating to take a direct stake in the Australian listed Oil Search through a potential $1 billion capital raising in a bid to head off a potential share raid on the country’s biggest oil and gas producer.

Page 3: Coles has made further price reductions under its long-running “Down Down” campaign in a move that could spark another supermarket price war.

Cheap airfares and online bargains are fuelling a boom in outbound travel as Australians head overseas in record numbers despite the impact of a weaker local currency.

Page 4: A $320 million drought assistance package offering farmers low-interest loans is based on politics, not economics, experts say.

Page 6: Any decision by Qantas to send thousands of jobs offshore should the restrictions on the airline be lifted would be the responsibility of Qantas management, not the government, Prime Minister Tony Abbott said.

Page 7: Australian Industry Group chief executive Innes Willox wants projects that would increase Australia’s capacity to export liquefied natural gas subjected to a “national interest test” as part of a push by manufacturers against rising gas prices.

Page 9: The competition regulator wants greater powers to investigate whether supermarket giants Coles and Woolworths act to reduce market competition to the detriment of smaller competitors and consumers.

Page 10: The new Australian chief executive of Chinese communications giant Huawei says his company will become less secretive and double its marketing budget to boost the sales of its smartphones and tablets, despite being banned from the national broadband network over spying fears.

Page 18: Just as investors get used to talking about the super-cycle in the past tense, the big miners have jolted the market to attention again with a bumper round of results and the promise of capital returns before the year is out.

Page 21: Qantas Airways is pushing the federal government for an extended maturity date for a critical debt facility, even if foreign investment restrictions are lifted as part of its efforts to regain an investment grade credit rating.

Page 23: Gina Rinehart’s Roy Hill project has found a solution to the hole that was left by the collapse of mining services firm Forge Group, as Spanish company Duro Felguera is set to complete the $1.47 billion contract in partnership with Samsung C&T.

Page 29: Lachlan Murdoch’s DMG Radio has been re-branded as Nova Entertainment to try to take advantage of the company’s highly successful Nova FM brand and market itself as a diversified media business to advertisers.

Page 38: Finbar Group’s first-half profit has risen 35 per cent to $18.9 million boosted by the settlement of lots in the residential developer’s Pilbara and Perth projects.

Page 45: Cedar Woods Properties had a 13 per cent increase in first-half net income to $20.5 million after revenue rose, pushed by settlements on projects in Victoria.

 

 

The Australian

Page 1: The Coalition will target a near doubling of the nation’s defence budget to $50 billion within a decade, under directions given to the authors of a white paper to be announced next month.

Back-office Qantas staff are expected to bear the brunt of more than 5000 jobs cuts company-wide as chief executive Alan Joyce today unveils a mammoth restructuring plan to convince markets and the Abbott government that it has its ‘‘house in order’’ and can stem its huge losses.

Page 4: The federal government yesterday announced a $320 million assistance package to give drought-stricken farmers ‘‘a hand-up’’ by providing hundreds of families access to welfare payments and low-interest loans.

Taxpayers have been spending about $7300 per user to subsidise poorly performing satellite broadband services, the Coalition has declared, as NBN Co advances plans to fix problems with the service.

Page 6: Infighting has broken out in the Palmer United Party ahead of Western Australia’s new Senate election, with a former One Nation state MP and PUP candidate questioning whether the party’s Zhenya Wang is tough enough for the Senate.

Page 17: The former associate deputy secretary of the US Department of Energy, Randa Fahmy Hudome, has warned Australian gas producers that the US is emerging as a competitive threat in the gas export market, and that Australia risks losing out significant future revenue streams if it fails to develop its resources to their potential.

Australia’s largest medical centre operator, Primary Health Care, is preparing to break into the $500 million-plus fertility services market, with plans to dramatically undercut the existing operators on price.

Page 18: Iron ore prices have continued their February weakness, driving a slew of downbeat reports about the prospects for Australia’s biggest export.

Uranium stocks bounced back to life yesterday, rising by up to 21 per cent on Japan’s release of a draft energy policy that committed the country to a reduced but ongoing dependence on nuclear energy.

Continued protests at its flagship Maules Creek project have not hit Whitehaven Coal’s schedule for the new mine, as it reports increased sales from its other operations.

Page 23: BC Iron has flagged a full-year dividend at the higher end of its announced payout ratio should conditions in the iron-ore market persist.

Page 25: The Lowy family has defied investor opposition and vowed to push ahead with plans for the sweeping overhaul of the $70 billion Westfield shopping centre empire on its terms, amid concerns the founders will abandon the Australian arm and concentrate on global expansion.

Page 27: Lend Lease Group says it is in a strong position in the improving residential sector, despite posting a drop in first-half profit due to a significant decline in earnings from its construction arm.

 

 

The West Australian

Page 10: Farmers in drought-affected parts of WA have hit out over restrictions on financial aid packages being rolled out by Federal and State governments.

Australia’s military chief has taken the extraordinary step of chiding shadow defence minister Stephen Conroy after he suggested a senior officer was engaged in a political cover-up over border protection.

Page 12: The cost of compensating the former owners of the Grand Palace Chinese restaurant on the Esplanade has risen to $7.25 million — and the matter still is not settled.

Qantas will have extra security at its terminals in major capital cities around Australia today in anticipation of trouble from militant unions after the expected announcement of up to 5000 redundancies.

Page 18: A multimillion-dollar concert venue, arts hub and microbrewery planned for Fremantle’s historic West End is likely to be approved.

Business: CBH has moved to head off grower concern about its investment strategy by bumping up spending on WA’s grain storage and handling network by $55 million to $185 million over the next 12 months.

St Barbara’s Gwalia gold mine in WA was its only significantly profitable operation in the first half of the year, with the company plunging deeper into the red on the back of its disastrous 2012 merger with Allied Gold.

The triumvirate that turned Regis Resources from a wannabe into one of Australia’s best gold producers has been split open after the sudden resignation of operations director Morgan Hart.

Nick Curtis has waved away any suggestion he’s come too late to the Pilbara iron ore party, saying iron ore economics still make “unbelievable sense” and are strong enough to support his $2.2 billion upstart bid to build a new port and rail network in the Central Pilbara.

Rob Gillam has taken a parting shot at State Government inaction over key issues as he hangs up his boots after six years as president of the Pastoralists and Graziers Association in WA.

Paladin Energy shareholders’ rollercoaster ride is on the up again, fuelled by Japan’s affirmation that nuclear power remains a key source of electricity for the Asian powerhouse.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options