15/07/2014 - 05:34

Morning Headlines

15/07/2014 - 05:34

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Morning Headlines

Carbon tax price reductions, maybe

Costs imposed by the carbon tax on everyday goods are unlikely to ever be passed back in full due to a number of complex factors, including a difficulty in working out exactly how much the tax drove up prices in the first place. The Fin

Lew opts out of vote on takeover

By abstaining from voting his 9.9 per cent stake in David Jones at a shareholder meeting to approve Woolworths’ $2.2 billion takeover, the rag trader has reduced the risk that the deal, which will create one of the world’s 10 largest retailers, could be blocked by regulatory intervention. The Fin

US billionaire’s son buys into WA miner

The son of US billionaire Charles Schwab, who founded one of the world’s largest discount broking companies, is believed to be poised to make his first investment in an Australian listed company, outlaying at least $2 million for up to 15 per cent in a Western Australian miner. The Aus

Sirius sets its own terms on Nova

Sirius Resources is telling lenders it wants to be free of hedging requirements and be able to return early profits back to shareholders, as it begins talks with lenders over one of the few mine construction projects in Australia. The Fin

Shorten reboots carbon price row

Tony Abbott and Bill Shorten have set battlelines for another election campaign on carbon pricing, with Labor vowing to fight for “a serious, credible climate change policy’’ and the Prime Minister warning that the carbon tax will return under Labor. The Aus

Junior explorer Thundelarra’s shares rocket on drill result

Shares in junior exploration play Thundelarra have soared dramatically after the company produced an eye-catching result from drilling at its Red Bore project in Western Australia’s Doolgunna region. The Aus

 

Investors await share of $52m after MCC settlement

 

Shares in Tony Sage’s Cape Lambert Resources are expected to surge this morning after the company negotiated a settlement in its long-running dispute with China’s MCC, leaving it cashed up in a depressed resources market. The West

 

 

 

The Australian Financial Review

Page 1: Clive Palmer is demanding the federal government provide explicit transparency provisions and safeguards for investors if it wants his crucial support to change Labor’s Future of Financial Advice laws.

The Reserve Bank of Australia has told property buyers they will be better off renting rather than buying their home unless house prices keep growing as fast as they have over the past two generations.

Page 3: The Productivity Commission has strongly endorsed the privatisation of state-owned electricity assets and ports and encouraged a possible sale of Snowy Hydro, the Australian Rail Track Corporation and Airservices Australia.

Page 4: Costs imposed by the carbon tax on everyday goods are unlikely to ever be passed back in full due to a number of complex factors, including a difficulty in working out exactly how much the tax drove up prices in the first place.

Page 5: Former competition chief Graeme Samuel has hit out at Labor and the Coalition for politicising the national broadband network and granting it excessive monopoly protections.

Page 6: Twenty corporate leaders working alongside the Group of 20 top nations will seek a way to convince superannuation and sovereign wealth funds to invest in riskier assets that can boost economic growth.

Page 10: Gina Rinehart’s Hancock Prospecting will face off with the corporate regulator at a trial in the Perth Magistrates Court in November.

Page 11: High-spending Chinese tourists rank Australia as their No.1 destination for international travel and as the most welcoming to Chinese travellers.

The ABC has confirmed it will cut about 80 jobs after the Abbott government’s move to axe the Australia Network international broadcasting service.

Page 15: By abstaining from voting his 9.9 per cent stake in David Jones at a shareholder meeting to approve Woolworths’ $2.2 billion takeover, the rag trader has reduced the risk that the deal, which will create one of the world’s 10 largest retailers, could be blocked by regulatory intervention.

Page 21: Sirius Resources is telling lenders it wants to be free of hedging requirements and be able to return early profits back to shareholders, as it begins talks with lenders over one of the few mine construction projects in Australia.

 

 

The Australian

Page 1: Tony Abbott and Bill Shorten have set battlelines for another election campaign on carbon pricing, with Labor vowing to fight for “a serious, credible climate change policy’’ and the Prime Minister warning that the carbon tax will return under Labor.

Aborigines who leave remote communities to take up jobs should be handed “support packages” that include secure accommodation, rent advances and case management, under mining magnate Andrew Forrest’s recommended overhaul of the $7 billion indigenous social housing system.

Page 4: Australia must put its $1.8 trillion retirement savings to better use to build the economy, according to new advice to the Abbott government that prepares the ground for a shake-up of the nation’s financial system.

Page 21: The chief executive of one of Australia’s biggest energy companies says the national pipeline of new wind farms is “old technology” that is damaging Australia’s competitiveness and threatening a jobs “catastrophe” in the coalmining regions of Latrobe in Victoria and the Hunter in NSW.

Page 22: Queensland-based residential developer Devine has hired investment bank Goldman Sachs as its adviser after attracting interest for a full-scale takeover of the company rather than a trade sale of the 50 per cent stake owned by Leighton Holdings.

Shares in junior exploration play Thundelarra have soared dramatically after the company produced an eye-catching result from drilling at its Red Bore project in Western Australia’s Doolgunna region.

Chinese company Landbridge Group has triumphed in its $178 million hostile cash offer for coal-seam gas producer WestSide Corporation, with the group moving to majority ownership yesterday.

Page 23: The son of US billionaire Charles Schwab, who founded one of the world’s largest discount broking companies, is believed to be poised to make his first investment in an Australian listed company, outlaying at least $2 million for up to 15 per cent in a West Australian miner.

 

 

The West Australian

Page 1: Emergency physicians covering vacancies at WA public hospitals in country areas are being paid $3500 a weekday and $3900 a day at weekends and public holidays.

Page 3: Clive Palmer has tried to claim credit for killing the carbon tax as Prime Minister Tony Abbott watered down his pre-election claims of huge reductions in the cost of everyday goods.

Page 13: Sir Charles Gairdner Hospital has cancelled all elective surgery today and is warning of delays in its emergency department as hundreds of workers go on strike.

Business: Sirius Resources has injected hope into the embattled Goldfields mining community of a jobs boost from next year after declaring yesterday its $473 million Nova project on the Nullarbor was financially robust and should deliver one of the world’s lowest-cost nickel operations.

WA Farmers president Dale Park believes big cattle price rises are inevitable as supply shrinks and overseas demand soars.

In a move described as a “relief ” by iiNet founder Michael Malone, interim chief David Buckingham was yesterday officially handed the reins to the internet provider after a four-month wait.

The company at the centre of moves to “frack” for oil and gas in the Kimberley has pushed back key plans until next year, prompting claims of a win for environmentalists.

Shares in Tony Sage’s Cape Lambert Resources are expected to surge this morning after the company negotiated a settlement in its long-running dispute with China’s MCC, leaving it cashed up in a depressed resources market.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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