29/07/2014 - 05:47

Morning Headlines

29/07/2014 - 05:47

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Morning Headlines

High costs hurting mine investment: Rinehart

Mining magnate Gina Rinehart says the high cost of doing business in Australia is driving some multinational companies to pursue overseas projects that have the potential to further damage the country’s export revenue. The Aus

LNG’s $11.7m bid to replicate Magnolia

LNG will look to replicate the success of its proposed Magnolia liquefied natural gas plant in Louisiana in Canada, with the group paying $US11 million ($11.7m) for a site in Nova Scotia. The Aus

MUA wharfies plan 10-day Pilbara strike

The Maritime Union of Australia has accused the operator of a key Pilbara supply base of failing to take pay negotiations seriously, triggering a 10-day strike that it says will impact Chevron’s $US54 billion ($57billion) Gorgon project. The Fin

Apache leader switch mystery

Apache has quietly changed out its senior guard in Australia amid mounting pressure from some of its activist investors to sell all assets outside of the US. The West

Uranium mine wins approval

A uranium mine has been approved by Western Australia’s environmental watchdog but development may be put on hold until prices for the controversial commodity recover. The Fin

BCA urges PM to share ‘vision for Australia’

The Prime Minister should make an annual “vision for Australia” speech that outlines goals for the next five to 10 years, including an assessment of the current position against that vision and the government’s strategy for achieving it, the Business Council of Australia says. The Fin

Mining confidence plumbs the depths

Confidence in Australia’s mining sector has hit a new five-year low as industry leaders express disappointment at the Abbott government’s failure to deliver on election promises to boost the sector. The Aus

 

 

The Australian Financial Review

Page 1: BHP Billiton is considering reactivating its Olympic Dam copper-uranium expansion two years after the $30 billion project was controversially shelved, a move that would stimulate South Australia’s flagging economy.

Australian governments need to rethink their role in the economy by encouraging industries that have natural advantages – such as agriculture, mining, energy, tourism and education, according to the Business Council of Australia.

Page 3: The founder of Platinum Asset Management, billionaire Kerr Neilson, says shares are an even or better bet than the property market, and house prices are unlikely to be at inflation over the next decade.

Page 4: A plan to make jobseekers prove they havesearchedforupto40jobsamonth is too harsh, according to the peak welfare lobby.

Page 5: Leading company chairman David Gonski said directors need to better engage with investors, which increasingly may be superannuation funds, as more beneficial owners exercise their right to vote at company meetings.

Page 6: The Prime Minister should make an annual “vision for Australia” speech that outlines goals for the next five to 10 years, including an assessment of the current position against that vision and the government’s strategy for achieving it, the Business Council of Australia says.

Page 9: The Tax Office wants to claw back up to $200 million in revenue from property developers who have inappropriately claimed capital gains tax breaks.

Page 10: The Maritime Union of Australia has accused the operator of a key Pilbara supply base of failing to take pay negotiations seriously, triggering a 10-day strike that it says will impact Chevron’s $US54 billion ($57billion) Gorgon project.

Page 11: A uranium mine has been approved by Western Australia’s environmental watchdog but development may be put on hold until prices for the controversial commodity recover.

Chinese government-owned CITIC Pacific has dropped one of its court cases against Clive Palmer’s company, Mineralogy.

Page 15: Healthscope has defied a weak market to return to public ownership at a 5 per cent premium to the offer price of the private hospital, medical centre and pathology operator’s $3.6 billion float.

Page 19: Large banks have been holding off giving masses of extra consumer borrowing data to credit bureaus under new “comprehensive” credit laws because they fear giving away their competitive advantage.

Page 38: Stockland and Singapore’s largest listed developer are vying for Leighton Properties’ $7 billion residential and commercial real estate portfolio.

 

 

The Australian

Page 1: Mining magnate Gina Rinehart says the high cost of doing business in Australia is driving some multinational companies to pursue overseas projects that have the potential to further damage the country’s export revenue.

Tony Abbott’s strong response to the murder of Australians aboard Malaysia Airlines Flight MH17 has delivered the equal-biggest rise in his personal ratings outside an election campaign.

Page 2: Medicare Locals spent taxpayers’ funds paying parking fines and giving farewell presents to staff, and one spent nearly 40 per cent of the money allocated to it on administration.

Page 3: Australian opera companies will go under the microscope as part of a national review designed to ensure that more than $32 million of annual government funding is well spent.

Page 4: A union whistle-blower allegedly knew a witness was going to be subpoenaed by the royal commission into union governance before the subpoena was issued, according to a sworn affidavit sent to the Australian Federal Police.

The peak group representing non-profit job agencies says the new jobs model unveiled by the Abbott government would give providers more power to get unemployed people into real jobs, but warned work for the dole should not be imposed in such a dogmatic way.

Page 6: The federal government has given environmental approval for what will be the largest coalmine in the country, with coal due to be exported to India in three years’ time.

Page 17: Leighton Holdings is radically changing the way it collects billions of dollars owed by its customers, including standardising processes across the group, as the construction giant yesterday posted a 20 per cent fall in interim net profit to $291 million.

Confidence in Australia’s mining sector has hit a new five-year low as industry leaders express disappointment at the Abbott government’s failure to deliver on election promises to boost the sector.

Page 18: LNG will look to replicate the success of its proposed Magnolia liquefied natural gas plant in Louisiana in Canada, with the group paying $US11 million ($11.7m) for a site in Nova Scotia.

Page 26: The Abbott government may be months away from concluding its first cloud computing trial and the slow adoption of a “cloud-first” policy will have several major negative impacts, industry figures say.

 

 

The West Australian

Page 9: WA milk producer Brownes has been fined $100,000 for polluting a Brunswick creek with waste milk.

Page 13: Perth’s dams have received only a “tiny fraction” of run-off compared with the historical average so far this winter despite recent heavy rains, according to the Water Corporation.

Page 15: More than 20 private fishermen have put their hats into the ring for the right to carry out the State Government’s shark drum line policy over the next three summers.

Page 17: A new campaign of industrial action will hit Perth hospitals today, with hundreds of support workers threatening to stop work over fears of job losses.

Business: Apache has quietly changed out its senior guard in Australia amid mounting pressure from some of its activist investors to sell all assets outside of the US.

Chia Co founder John Foss made his name producing and marketing one of the world’s healthiest foods but right now he is eyeing a big helping of Chinese takeaway.

Fifth Element Resources has confirmed it was not operational results that sparked its mystery run from a 20¢ float in May to a $7.96 price when the Australian Securities Exchange suspended its shares two weeks ago.

BC Iron has underlined its status as the mid-tier iron ore miner of choice for yield hunters, declaring net operating cash flow of $41 million for the June quarter despite a tumbling iron ore price.

 

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