22/08/2014 - 06:09

Morning Headlines

22/08/2014 - 06:09

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 Morning Headlines

BHP says cash returns on horizon

BHP Billiton boss Andrew Mackenzie has acknowledged that investors were “very disappointed’’ that they were not showered with greater cash rewards this week in the form of an on-market share buyback. The Aus

Woodside ‘focus on growth not cash’

Woodside chief Peter Coleman has warned investors calling for big cash returns that growth will always be the priority for the oil and gas company. The Aus

PM to hammer out RET stance

Prime Minister Tony Abbott will seek to end a cabinet split on Sunday by meeting two senior ministers to thrash out a position on the future of the renewable energy target. The Fin

NBN deals for Telstra rivals

Telstra’s construction rivals, including companies such as Leighton Contractors, will win major contracts to build the national broadband network, says NBN Co chief executive Bill Morrow. The Fin

Oil find raises pulses off WA coast

Local reaction to the news this week that US oil player Apache had discovered oil off a remote part of the Western Australian coast ranged from exuberant enthusiasm to deep scepticism. The Fin

Airport rail use figures inflated

The Barnett Government has used inflated patronage projections for its Airport-Forrestfield rail link relative to published projections for other rail proposals. The West

Shire chief hits out at oil giant

A Pilbara shire has claimed oil and gas giant Chevron went “behind its back” to renege on a deal to house in Onslow workers on the $30 billion Wheatstone project. The West

 

 

The Australian Financial Review

Page 1: Treasury secretary Martin Parkinson has conceded the federal government’s marooned budget strategy should have canvassed tax reform to counter complaints over its claimed unfairness.

Page 3: Lend Lease has won a long-running battle with the NSW government over profit sharing at the $6 billion Barangaroo project in Sydney.

Page 6: Chief executives have hit back at RBA governor Glenn Stevens’s claim that they are more interested in paying out dividends to shareholders than investing in growth.

Page 7: Prime Minister Tony Abbott will seek to end a cabinet split on Sunday by meeting two senior ministers to thrash out a position on the future of the renewable energy target.

Page 8: Telstra’s construction rivals, including companies such as Leighton Contractors, will win major contracts to build the national broadband network, says NBN Co chief executive Bill Morrow.

Page 9: News Corporation Australia chief executive Julian Clarke shrugged off a leaked internal document that showed The Australian newspaper lost $27 million in 2012-13, saying the controversial newspaper was now doing very well.

Page 10: Nathan Tinkler’s pursuit of a $150 million coal mine in Queensland may have taken another turn for the worse but the fallen tycoon refuses to raise the white flag, even after the seizure of his thoroughbred racing empire, Patinack Farm.

Page 13: AMP’s strategy to revive its troubled life insurance business appears to be working as the company ramps up its incentives for customers to get back on their feet and rely less on their insurance payouts, such as offering bonuses to return to work earlier.

Former BHP Billiton chairman Don Argus said the mining giant’s controversial decision to spin-off a $US15 billion ($16 billion) resources company is “a very inspired move” and will create value in a suite of assets overlooked by the market.

New-found confidence that Origin Energy is over the worst in its core energy markets business has outweighed disappointment about weak full-year profit due to soft demand and tough competition.

Page 15: Asciano is keen to make its container ports business part of a “global network” but remains open to selling all of Patrick ports if it receives the right price, chief executive John Mullen said.

Qantas Airways has not yet made a final decision on whether to shelve a partial float of its $2.5 billion frequent flyer division, the airline said.

Page 16: Perth-based internet service provider iiNet is actively seeking to acquire business technology companies in a bid to grow profits and revenue.

Page 20: Local reaction to the news this week that US oil player Apache had discovered oil off a remote part of the Western Australian coast ranged from exuberant enthusiasm to deep scepticism.

 

 

The Australian

Page 1: Plans for a $20 billion medical research fund are being locked into the Abbott government’s budget strategy despite growing concerns about the idea, as ministers insist on keeping the scheme, as well as a controversial GP co-payment to pay for it.

The Chinese government has officially condemned Clive Palmer’s racist outburst, in which he claimed Chinese people were “mongrels” and “bastards’’ who “shot their own people”.

Page 5: The mooted $120 million-plus sale of Nathan Tinkler’s Patinack Farm horseracing empire has collapsed after a “mysterious” buyer — purporting to represent the Qatari royal family — pulled out of the deal.

After resigning in disgrace for accepting donations from banned property developers, former Liberal MP Andrew Cornwell has been accused of lying to the Independent Commission Against Corruption.

Page 17: BHP Billiton boss Andrew Mackenzie has acknowledged that investors were “very disappointed’’ that they were not showered with greater cash rewards this week in the form of an on-market share buyback.

The Commonweath Bank will today open a new county bank in rural China as its attempts to build an extensive network to capitalise upon the nation’s next phase of regional economic growth.

Page 18: The Great Australian Bight could become a world-class oil province with the potential to rival the big producing regions of Nigeria and the US Gulf of Mexico, according to global major BP, which is getting set to drill in 2016.

Woodside chief Peter Coleman has warned investors calling for big cash returns that growth will always be the priority for the oil and gas company.

 

 

The West Australian

Page 9: Perth’s entire fleet of 474 gas buses will be taken off the road for modifications under a State Government agreement with maker Mercedes-Benz over a spate of bus fires.

Page 10: WA’s nursing union has condemned a decision by the University of WA to axe a fast-track nursing degree, saying it will add to looming staff shortages.

Page 13: The Barnett Government has used inflated patronage projections for its Airport-Forrestfield rail link relative to published projections for other rail proposals.

Page 14: Doctors and the Abbott Government remain at loggerheads over proposed Medicare co-payments.

Page 24: A Pilbara shire has claimed oil and gas giant Chevron went “behind its back” to renege on a deal to house in Onslow workers on the $30 billion Wheatstone project.

Page 26: The copper network used to connect most West Australians to the internet — and at least a third of future connections to the National Broadband Network — is in a state of disrepair, the union representing Telstra workers says.

Business: The battle to become the nation’s number two internet provider is heating up, with iiNet yesterday closing the gap on Optus as it looks to push pass the magic million mark.

Plans by AWE to carry out hydraulic fracturing in the Mid-West have suffered a blow.

BC Iron managing director Morgan Ball says he is confident the miner can recover from an ore quality setback that could see it miss about $40 million worth of shipments this quarter.

Emeco Holdings has awarded bonuses to management despite the mining equipment supplier suffering a $224 million annual loss.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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