13/08/2014 - 05:46

Morning Headlines

13/08/2014 - 05:46

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Morning Headlines

Rehab a headache for BHP Billiton’s Nickel West

Environmental liabilities of up to $2 billion attached to BHP Billiton’s Nickel West operations in Western Australia are proving to be a major hurdle as the mining giant attempts to offload the struggling project. The Fin

Newmont links mine upgrade to review

Newmont Mining chief executive Gary Goldberg says the outcome of the WA Government’s royalty rate review will have a “big impact” on whether the world’s second-biggest gold producer pushes ahead with major upgrade of its Boddington mine. The West

Public facilities key to power station revival

Landcorp has revealed its vision to transform the old South Fremantle power station and surrounding area with more than 900 homes and public attractions, including galleries, bars, shops and small offices. The West

Merger critic new boss of Synergy

The head of WA’s economic watchdog will be paid $550,000 a year to be chairman of a State-owned energy company he believes should not exist. The West

Woolies earnings hurt by Masters

Woolworths is facing another four years of red ink in its $2.6 billion home improvement business after finally admitting what the market already knew–that losses in 2014 would exceed those in 2013 and it would not break even in 2016. The Fin

Coalition considering PPL changes to win over Senate

The Abbott government is weighing up a shift in strategy on its paid parental leave scheme to help overcome Senate objections to its wider agenda, scaling back the controversial policy to avoid defeat in the upper house. The Aus

All change at DJs as Moir takes charge

South African retailer Woolworths Holdings has installed Country Road boss Iain Nairn to run newly acquired department store chain David Jones, after chief executive Paul Zahra quit the company yesterday. The Aus

RBA calculation puts China in context

Europe and the United States are Australia’s biggest export destinations when measured in terms of “value added trade”, according to ground breaking Reserve Bank of Australia research that challenges the widely assumed dominance of China. The Fin

 

 

The Australian Financial Review

Page 1: The United States and Australia will seek a common international approach to manage the flow of jihadists returning from Iraq, Syria and other conflict zones that have radicalised thousands of young Muslim men.

South Africa’s Woolworths expects a payback on its $2.2 billion acquisition of David Jones within two years – well ahead of market forecasts – through new stores, better systems and an improved product range.

Page 3: China’s richest man, Wang Jianlin, has committed $HK12.5 billion ($1.7billion) to invest in Australia real estate including the construction of a $900 million beachfront resort on the Gold Coast.

Page 5: The government is likely to increase exemptions from its proposed Medicare co-payment rather than reduce the $7 charge, Health Minister Peter Dutton has indicated.

Page 10: Europe and the United States are Australia’s biggest export destinations when measured in terms of “value added trade”, according to ground breaking Reserve Bank of Australia research that challenges the widely assumed dominance of China.

Page 11: An international football tournament featuring famous clubs such as Manchester City and Real Madrid will be played in Australia next year under an agreement set to be struck by Nine Entertainment Co.

Page 15: Woolworths is facing another four years of red ink in its $2.6 billion home improvement business after finally admitting what the market already knew–that losses in 2014 would exceed those in 2013 and it would not break even in 2016.

Telstra’s latest investment is the key to tapping a market that could be worth up to $20 billion from 2020 onwards, its global enterprise and services group executive Brendon Riley, says.

Page 17: Environmental liabilities of up to $2 billion attached to BHP Billiton’s Nickel West operations in Western Australia are proving to be a major hurdle as the mining giant attempts to offload the struggling project.

New GrainCorp chief executive Mark Palmquist has been guaranteed $7.2 million over three years to compensate him for the risk of Archer Daniels Midland acquiring the company.

Page 18: Domino’s Pizza Enterprises group chief executive Don Meij says Europe’s love for the World Cup and Australia’s love of extra toppings have contributed to yet another strong result for the successful pizza maker.

Page 21: Medical device maker ResMed has announced a new line of products that analysts expect will lead to a significant revenue boost and may help patients to stick to their therapy regimes.

 

 

The Australian

Page 1: The Abbott government is weighing up a shift in strategy on its paid parental leave scheme to help overcome Senate objections to its wider agenda, scaling back the controversial policy to avoid defeat in the upper house.

Page 2: Hundreds of millions of dollars of emissions reduction projects will be rendered effectively worthless if Labor, the Greens and crossbench senators vote down the Coalition’s direct action scheme.

Limited labour market testing has led to a large increase in 457 visa applications not being approved, while thousands of foreign workers would not have gained visas if the regime were more broadly applied.

Page 5: The Gillard government wanted Essendon stripped of premiership points and club employees sacked amid growing concern they “overegged’’ the release of an Australian Crime Commission report into drugs in sport on the so-called “blackest day in Australian sport.’’

Page 6: The former Queensland leader of the Palmer United Party says Clive Palmer and Labor have held secret talks over preferences and a plan to “split seats’’ at next year’s state election.

Page 19: Agricultural chemicals and seed company Nufarm looks set for an improved 2015 as local market conditions improve and the company beds down the results of a wholesale restructuring, according to managing director Doug Rathbone.

South African retailer Woolworths Holdings has installed Country Road boss Iain Nairn to run newly acquired department store chain David Jones, after chief executive Paul Zahra quit the company yesterday.

Page 20: A sparkling red diamond — which could fetch more than $US2 million ($2.15m) — is the “hero” of Rio Tinto’s annual Argyle pink diamond tender.

Mining contractor Mineral Resources has pleaded guilty to charges relating to the death of an electrician at a Western Australian iron ore mine last year.

Page 21: Business has shrugged off any concerns about the impact of the government’s budget, but the surprise jump in confidence and further rises in house prices have done little to improve national job prospects.

Shares in Treasury Wine Estates declined to a shade above the $5.20 indicative price on offer from two potential US buyers as investors dialled back their expectations of a bidding war.

Page 27: The National Union of Students says that despite an apparent unified stance from Labor, the Greens and Palmer United Party against the government’s reforms, it isn’t taking anything for granted since being blindsided in 2005 when Family First senator Steve Fielding delivered the Howard government its victory on voluntary student unionism.

Page 28: The Abbott government’s proposed $20 billion Medical Research Future Fund won’t be tapped for joint venture capital to invest in biotech companies, but bio-techs would be free to compete for project funding.

 

 

The West Australian

Page 1: The head of WA’s economic watchdog will be paid $550,000 a year to be chairman of a State-owned energy company he believes should not exist.

Page 3: Desperate jobseekers are paying thousands of dollars to work for free, prompting calls for a code of conduct for unpaid work experience.

Page 5: Australia’s biggest class action could result in hundreds of thousands of bank customers receiving compensation for late payment credit card fees.

Page 9: Landcorp has revealed its vision to transform the old South Fremantle power station and surrounding area with more than 900 homes and public attractions, including galleries, bars, shops and small offices.

Subiaco looks likely to lose one of Perth’s biggest undercover markets, with Coles and Target to move into the Subi Centro precinct as part of plans for an $80 million redevelopment.

Page 11: Confusion about food allergy and intolerance is being fuelled by people self-diagnosing or using dubious tests such as hair analysis, according to a leading Perth immunologist.

Page 12: Queensland-based gambling company Tatts Group paid thousands of dollars to the WA Liberal Party to secure a meeting with Colin Barnett and his Cabinet.

Palmer United Party Senator Dio Wang will demand Joe Hockey give WA a bigger slice of GST payments but admits he has no ideas for how that would be achieved.

Business: Newmont Mining chief executive Gary Goldberg says the outcome of the WA Government’s royalty rate review will have a “big impact” on whether the world’s second-biggest gold producer pushes ahead with major upgrade of its Boddington mine.

Mineral Resources boss Chris Ellison yesterday ruled out a bid for Iron Ore Holdings, saying the company supported BC Iron’s $250 million cash and scrip offer for the Kerry Stokes-backed junior.

Internet service provider iiNet wants to follow in Telstra’s footsteps and develop an “innovation fund” to help incubate start-ups and open it to more grassroots business opportunities.

It is crunch time for WA grain growers as they look to the skies for rain over the next fortnight to take the heat off this season’s crops.

The Bell Group’s liquidator has vowed to work with creditors to strike deals on sharing a $1.7 billion litigation bounty and to avoid decades of legal warfare.

Bradken is set to close another WA foundry, with the loss of at least 60 jobs, as it moves manufacturing interstate and overseas.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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