28/08/2014 - 05:38

Morning Headlines

28/08/2014 - 05:38

Bookmark

Save articles for future reference.

Brookfield, Mirvac fight to build riverside tower

Brookfield, Mirvac fight to build riverside tower

Development giants Brookfield Office Properties and Mirvac Group are the two players left standing in the bid to develop the next office tower at Perth’s $2.6 billion Elizabeth Quay precinct, with both groups competing to sign resources titan Rio Tinto as an anchor tenant. The Aus

Heavyweights fight for grain

Chinese conglomerate COFCO heads a list of three new players in the WA grain market seeking long-term agreements for access to port terminals operated by CBH. The West

Mining jobs in steady decline

The number of people employed in Western Australia’s mining industry declined 13 per cent over the past year to its lowest level since August 2011, leading a downturn in the industry across Australia. The Fin

MUA looks to expand battle with Chevron

The Maritime Union of Australia is considering legal action against US oil and gas giant Chevron, which it argues is breaching its obligations under a state agreement to use local workers for its massive Gorgon project. The Fin

Qantas to reveal loss over $1b

Qantas will today blame an unprecedented capacity and fare war, soaring fuel prices and a weak economy for an operating loss for the year ended June 30 of about $700 million but one-off write-downs are expected to push that loss well above $1 billion. The West

Reserve Bank takes aim at mortgages

Reserve Bank has issued its sternest warning yet about allowing more funds to flood the property market, urging any moves that could further fuel lending be carefully considered due to the increased risks to the economy. The Aus

‘Doom’ scenarios for green energy

The price of renewable energy certificates would collapse and the value of the large-scale renewable energy sector would be “destroyed’’ under the more drastic proposal contained in the review of the Renewable Energy Target, which is due to be released on Thursday. The Fin

Drought loans not flowing to farmers

Federal government programs and $700 million loans designed to help Australian farm families cope with severe drought and ballooning debt are not reaching their target. The Aus

 

 

The Australian Financial Review

Page 1: The Royal Australian Air Force could soon carry out airstrikes on Islamic militants in Iraq and Syria under a military coalition being assembled by the Obama administration.

Easing bank capital rules to help smaller lenders could pump even more credit into the $1.3 trillion mortgage market and increase the systemic risk to the broader economy, the Reserve Bank of Australia told the financial sector inquiry.

Page 3: Despite an alarmingly high youth unemployment rate, school-leavers don’t want to “do the hard yards” required for a career in the trades, Australian Brick and Blocklaying Training Foundation chief Geoff Noble said.

Page 6:  The price of renewable energy certificates would collapse and the value of the large-scale renewable energy sector would be “destroyed’’ under the more drastic proposal contained in the review of the Renewable Energy Target, which is due to be released on Thursday.

Page 9: The Maritime Union of Australia is considering legal action against US oil and gas giant Chevron, which it argues is breaching its obligations under a state agreement to use local workers for its massive Gorgon project.

Page 10: Academics and industry experts have criticised the government’s national broadband network cost-benefit analysis for using assumptions that underestimate the demand for technology.

Page 12: The Western Australian government wants to keep its future fund despite mounting criticism the policy is proving ineffective.

The number of people employed in Western Australia’s mining industry declined 13 per cent over the past year to its lowest level since August 2011, leading a downturn in the industry across Australia.

Page 21: Worley Parsons chief executive Andrew Wood has defended the engineering group’s vague outlook for 2015, arguing he cannot give a “clear picture” in difficult markets after group net profit fell 23 per cent to $249 million.

Dwindling property prices in China threaten to push the price of iron ore even lower as fears grow about the housing outlook in the world’s second largest economy.

Page 23: Kerry Stokes’ Seven Group Holdings has made its second foray into oil and gas, spending $71 million on a stake in an oil and gas play in Texas, with chief executive Don Voelte making it clear that more acquisitions are in the wings.

Page 26: Nine Entertainment Co and Fairfax Media have formed a joint venture for a subscription video-on-demand service that will take on Foxtel and American giant Netflix.

 

 

The Australian

Page 4: The head of the national network of technology universities, Peter Coaldrake, has warned of a “thermonuclear’’ strike on higher education if planned funding cuts stand but fee deregulation is axed from the government’s reform package.

Page 5: Federal government programs and $700 million loans designed to help Australian farm families cope with severe drought and ballooning debt are not reaching their target.

Page 6: A leading economics expert has called for a debate on whether a multi-billion-dollar subsidy for the rollout of superfast broadband to the bush is money “well spent” after Communications Minister Malcolm Turnbull yesterday declared Australia could afford it.

Page 17: Reserve Bank has issued its sternest warning yet about allowing more funds to flood the property market, urging any moves that could further fuel lending be carefully considered due to the increased risks to the economy.

Pacific Equity Partners, the private equity backer of Veda Group, was last night testing investor appetite for the sale of nearly $600 million worth of shares in the recently listed credit bureau.

Page 18: Chinese retailers and dairy groups are circling Australia’s largest milk processor, Murray Goulburn, as Asian dairy demand continues to outstrip supply, says managing director Gary Helou.

Page 19: The second-largest private hospitals operator in Australia, Healthscope, reports all its businesses performing strongly and says its hospitals division has strong growth opportunities.

Page 23: The slump in iron ore prices is having a telling impact on the earnings of Australia’s junior producers, with continued spot price weakness in the steelmaking material pointing to the pain setting in for at least the near term.

Page 25: Development and construction giant Lend Lease is looking to shift more of its development pipeline offshore, putting the company at the helm of a renewed push by property players into international markets.

Page 26: Development giants Brookfield Office Properties and Mirvac Group are the two players left standing in the bid to develop the next office tower at Perth’s $2.6 billion Elizabeth Quay precinct, with both groups competing to sign resources titan Rio Tinto as an anchor tenant.

 

 

The West Australian

Page 4: Colin Barnett has savaged Moody’s for downgrading WA’s credit rating, saying its report had been done by a “21-year-old graduate” just as another agency warned a further downgrade could be on the cards.

Page 11: Up to 2500 WA homes could have been fitted with dodgy electrical wire that is liable to break down prematurely and be a fire and electric shock risk.

Page 13: A push by the Federal Government to kill off Australia’s renewable energy target could cost WA “at least” $1.5 billion in investment and thousands of jobs, green power producers claim.

Page 14: Qantas will today blame an unprecedented capacity and fare war, soaring fuel prices and a weak economy for an operating loss for the year ended June 30 of about $700 million but one-off write-downs are expected to push that loss well above $1 billion.

Page 17: Agriculture Minister Barnaby Joyce hopes Clive Palmer’s anti-China rant does not hurt trade relations after revelations a deal for live beef exports from WA was in jeopardy.

Business: Chinese conglomerate COFCO heads a list of three new players in the WA grain market seeking long-term agreements for access to port terminals operated by CBH.

BC Iron says the logic of its $250 million takeover of Kerry Stokes’ Iron Ore Holdings remains compelling despite an almost 7 per cent fall in the iron ore price since the friendly deal was announced a fortnight ago.

A union claims up to 350,000 homes could face power cuts as the maintenance crew at Collie Power Station goes on strike for two weeks over a pay dispute.

A horror year for Ausdrill has seen the mining services provider hand in a $44 million loss.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options