25/09/2014 - 05:44

Morning Headlines

25/09/2014 - 05:44

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Morning Headlines

Temporary slide for iron ore: report

Earnings from Australia’s biggest resource exports will decline in the next year or two because of too much supply, and coal and iron ore prices will not recover until 2016, according to the government’s resources forecaster. The Fin

RBA flags clamp on lending

The Reserve Bank has signalled an impending crackdown on lending to housing investors to combat a feared surge in property speculation that has left the economy vulnerable to a fall in house prices. The Aus

Sirius drills into nothing but a $220m loss

A single barren drill hole has wiped more than $220 million off the market capitalisation of market darling Sirius Resources. The Aus

CBH back on track after Brookfield costs derailed

Brookfield Rail says it accepts the umpire’s decision and is ready to play on after WA’s economic regulator revealed yesterday that it had rejected the company’s costs proposals in a bitter row with CBH. The West

Virgin, Qantas go flat out for east coast-Perth business

Virgin Australia Holdings and Qantas Airways are poised for a fresh battle to appeal to lucrative corporate and government travellers on trans-continental routes. The Fin

Dark day for iron ore miners

Low iron ore prices have begun to bite at WA’s mine sites, with Atlas Iron and Cliffs Natural Resources both understood to have stood down workers this week as part of cost-saving drives. The West

Nuclear giant fights mine veto

French government-controlled Areva – the world’s biggest nuclear company – is considering suing the Australian government over a decision last year to veto mining at its multibillion-dollar Koongarra uranium project by punting the deposit into the protected Kakadu National Park. The Fin

Telstra has long way to run on NBN deal

Telstra boss David Thodey has said there is still a long way to go before the telco settles the renegotiation of its $11.2 billion deal with the government over its involvement in the National Broadband Network. The Aus

 

 

The Australian Financial Review

Page 1: Banks and investors face an escalating campaign of pressure by regulators and potentially tougher credit controls orchestrated by the Reserve Bank of Australia to head off a property bubble.

Page 3: States can no longer expect the federal government to pick up most of the tab for cyclones, floods and fires that devastate communities and wreck infrastructure, according to the Productivity Commission.

Page 4: Employees will work longer, take fewer sick days and stay loyal to employers if the federal government goes ahead with tax changes to encourage staff to own shares in the companies in which they work, research shows.

Page 9: Earnings from Australia’s biggest resource exports will decline in the next year or two because of too much supply, and coal and iron ore prices will not recover until 2016, according to the government’s resources forecaster.

Page 16: Australia will use its last turn as president of the United Nations Security Council in November to pressure other countries to crack down on their citizens fighting abroad with terrorist organisations.

Page 23: French government-controlled Areva – the world’s biggest nuclear company – is considering suing the Australian government over a decision last year to veto mining at its multibillion-dollar Koongarra uranium project by punting the deposit into the protected Kakadu National Park.

Virgin Australia Holdings and Qantas Airways are poised for a fresh battle to appeal to lucrative corporate and government travellers on trans-continental routes.

Page 26: The man who helped seal a $US7.2 billion ($8.1 billion) debt package for Gina Rinehart’s Roy Hill project has conceded that such a deal would be harder to close in the current environment, given the recent collapse in iron ore prices.

Page 33: Fears about tensions in Ukraine have been well allayed, with booming wheat production from the Black Sea region and elsewhere in Europe weighing on Australia’s sixth biggest export.

 

 

The Australian

Page 1: The founding president of Australia’s peak Islamic body has hit out at what he calls “a toxic subculture” in local Muslim schools and institutions that is fostering extremism.

Page 6: Scott Morrison will tomorrow sign a refugee resettlement pact with Cambodia, amid criticism for “dumping” vulnerable asylum seekers on the developing nation.

The academic who researched the progress of closing-the-gap measures has told the Forrest indigenous welfare review it has misunderstood why indigenous people still experience an employment gap, and is putting too much focus on education.

Page 7: The Reserve Bank has signalled an impending crackdown on lending to housing investors to combat a feared surge in property speculation that has left the economy vulnerable to a fall in house prices.

Page 19: NAB chief executive Andrew Thorburn says it is “old-fashioned” supply and demand, rather than a bubble, that is driving the surge in Australian housing prices.

More than 20,000 jobs have been cut from Australia’s mining sector in just three months as commodity prices decline and fears about China weakening take hold.

Page 20: Iron ore prices are down 40 per cent this year, but it isn’t because of China. Instead, an Australian-led surge in production has left the industry with too much supply even for China’s massive steel industry to absorb.

Page 21: Telstra boss David Thodey has said there is still a long way to go before the telco settles the renegotiation of its $11.2 billion deal with the government over its involvement in the National Broadband Network.

Page 27: Medibank Private’s $4 billion float is shaping as a critical test for the booming initial public offering market, as investors become more selective and some newly listed companies struggle to perform.

A single barren drill hole has wiped more than $220 million off the market capitalisation of market darling Sirius Resources.

 

 

The West Australian

Page 7: The Reserve Bank may take unprecedented steps to curb investors buying more property, warning that the market had become “unbalanced” and posed a risk to the entire economy.

Page 10: A return of Asia’s high rollers has helped billionaire James Packer deliver his best result in charge of Perth’s revamped Crown Casino.

Page 13: Students who do national literacy and numeracy tests on a computer get a better sense of achievement and find the process more enjoyable than traditional pencil and paper assessments, research has found.

Page 14: Colin Barnett is at the centre of a privacy storm after he revealed in Parliament yesterday identifying information about a confidential child protection complainant.

Page 19: Researchers backing the push for an ocean pool at Cottesloe beach want to heat the facility so the public can use it all year round.

Page 20: The Commonwealth has withdrawn responsibility for funding about 180 remote Aboriginal communities in a move the State says could cost $10 billion over 20 years and threaten the health of vulnerable residents.

WA will get its first shopping centre with electric car charge stations next month in a move that advocates hope will be replicated across the State.

Business: Low iron ore prices have begun to bite at WA’s mine sites, with Atlas Iron and Cliffs Natural Resources both understood to have stood down workers this week as part of cost-saving drives.

Brookfield Rail says it accepts the umpire’s decision and is ready to play on after WA’s economic regulator revealed yesterday that it had rejected the company’s costs proposals in a bitter row with CBH.

Two of Australia’s biggest energy providers say State-owned power utility Synergy must be broken up before they will consider buying its assets.

The union representing workers employed to fix faults on Telstra’s ageing copper network says up to 80 contractors have gone on strike amid claims of workplace bullying and unsafe working conditions.

Troubled rare earths miner Lynas Corporation has renegotiated a $US225 million ($243 million) loan with Japanese backers.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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