13/10/2014 - 05:51

Morning Headlines

13/10/2014 - 05:51

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Morning Headlines

Iron ore glut spurs ‘race to bottom’

Alberto Calderon , the man who led the strategy team for BHP Billiton’s aborted mega-merger with Rio Tinto, has said the iron market is in a “race to the bottom” with its surplus production, but says a Glencore -Rio Tinto deal would do little to alter that. The Fin

Fracking fears for Bunbury

The suburban outskirts of Bunbury and some of WA’s best agricultural land could be opened up to the controversial gas exploration technique known as hydraulic fracturing, or fracking. The West

Barnett dives but party may win

After six years in the job, Western Australian Premier Colin Barnett’s popularity has fallen to another record low but he remains a contender to lead the Liberal Party to a third victory at the next election. The Aus

NBN Co plan to bridge funds gap

NBN Co will finish plans on new products such as faster wireless broadband services by the end of 2014 to help bridge the $11.5 billion funding gap between the cost of building the national broadband network and government funding. The Fin

Subjects fine-tuned as schools go back to basics

Primary schools should focus on teaching literacy and numeracy, Australia’s Judaeo-Christian heritage should be given greater emphasis, and a “tokenistic” approach to key classroom themes must be dumped, according to a proposed shake-up of the national curriculum hailed yesterday by Tony Abbott as a “back to basics” approach to education. The Aus

Fed rate rise should not be feared: ANZ

ANZ chief executive Mike Smith is confident the “return to normality” with the end of the massive US stimulus program will push cash sloshing around institutional markets into “real” economies and that businesses can withstand rising interest rates. The Aus

Cash demand sinks Sims case

A defamation action by retractable syringe inventor Douglas Sims has backfired, with a judge finding the former Eastland Medical Systems executive director dishonestly used his position to get $60,000 from the struggling company. The West

 

 

The Australian Financial Review

Page 1: Oil prices hit a four-year low and global sharemarkets headed towards a correction on concerns of a triple-dip recession in Europe, a sign that economic fundamentals are overtaking the boost to prices from global monetary policy stimulus.

Page 3: Some clients of Commonwealth Bank of Australia’s disgraced financial planning arm are waiting for basic information about compensation 13 weeks after chief executive Ian Narev said he had listened to concerns that the bank wasn’t taking the debacle seriously.

Page 4: The federal government will use next month’s G20 summit in Brisbane to demand Vladimir Putin do the right thing by the victims of Flight MH17 after it gave up trying to stop the Russian President attending.

Australian National University’s embattled vice-chancellor Ian Young said he was happy to meet companies the university has blacklisted for causing social harm, opening the door to softening his position.

Page 9: KPMG’s investigation into how private details of Cbus members got into the hands of the militant building union failed to find evidence of a leak because it only checked emails, and the details were handed over in person.

Competition boss Rod Sims says passing judgement on Telstra’s proposal to raise the price of using its copper lines is one of his top priorities and “hugely important” because of its potential impact on phone and internet users.

Page 13: Most Australian universities perform better in the world’s most prestigious university rankings if Nobel prizes are not taken into account.

Page 15: Alberto Calderon , the man who led the strategy team for BHP Billiton’s aborted mega-merger with Rio Tinto, has said the iron market is in a “race to the bottom” with its surplus production, but says a Glencore -Rio Tinto deal would do little to alter that.

Page 17: Investment bank UBS is facing an embarrassing silence when it opens the retail shortfall book-build for steel maker Arrium’s disastrous $754 million equity raising on Monday.

Chinese-owned coal companies in Australia are adamant they will not get a sweetheart deal on their shipments to China, after Beijing slapped surprise tariffs on coal imports last week.

NBN Co will finish plans on new products such as faster wireless broadband services by the end of 2014 to help bridge the $11.5 billion funding gap between the cost of building the national broadband network and government funding.

Page 21: The head of Woolworths $7.4 billion liquor division says the group’s BWS liquor chain, which is Australia’s largest with 1230 outlets, will steer clear of building a big online presence and instead look to expand further in bricks and mortar.

Page 23: Australian airlines are in no hurry to cut their fuel surcharges, despite big falls in jet fuel prices in the last four months. Since June, the spot price for jet fuel in Singapore has fallen from $US125 a barrel to about $US103.

 

 

The Australian

Page 1: Primary schools should focus on teaching literacy and numeracy, Australia’s Judaeo-Christian heritage should be given greater emphasis, and a “tokenistic” approach to key classroom themes must be dumped, according to a proposed shake-up of the national curriculum hailed yesterday by Tony Abbott as a “back to basics” approach to education.

Page 2: Tony Abbott is preparing to launch the government’s first major economic policy since the budget, with an industry statement that will identify priority sectors for government support and roll back restrictions imposed by Labor on employee share schemes.

Page 6: After six years in the job, Western Australian Premier Colin Barnett’s popularity has fallen to another record low but he remains a contender to lead the Liberal Party to a third victory at the next election.

The number of people with severe and episodic mental health problems who could be captured by the National Disability Insurance Scheme remains unknown as the agency responsible for its design plots a course to include psychosocial disabilities.

Page 19: ANZ chief executive Mike Smith is confident the “return to normality” with the end of the massive US stimulus program will push cash sloshing around institutional markets into “real” economies and that businesses can withstand rising interest rates.

Frank Lowy believes he has been vindicated for pushing through the controversial restructure of the $70 billion Westfield shopping centre empire.

Page 21: Dick Smith has struck gold from its deal to take over the running of David Jones’ home entertainment category, mining the up-market department store’s well-heeled shoppers to shift more high-end stereos and plasma televisions through the single channel than its vastly larger national network of stand-alone Dick Smith stores.

Page 27: The battle of the supermarket chains is continuing in print with free titles Coles Magazine and Woolworths Fresh Magazine knocking established brand Better Homes & Gardens into third place for magazine readership.

 

 

The West Australian

Page 3: The suburban outskirts of Bunbury and some of WA’s best agricultural land could be opened up to the controversial gas exploration technique known as hydraulic fracturing, or fracking.

Page 5: The board of the State Government agency Healthway was given several ways to avoid the controversy over funding the cigarette-friendly opera Carmen — but rejected them.

Page 7: Almost 5 per cent of Perth’s population is living in severe income poverty, according to a report on how many Australians are falling through the cracks.

Page 11: Kicking around the cobwebs at the ageing Belmont Park racecourse, it is difficult to imagine it as the glittering gateway to what will become Perth’s new sporting and entertainment hub.

Page 15: Greenhouse gas emissions from WA’s main electricity grid appear to be in decline amid falling demand for energy and more green power from sources such as solar panels and wind farms.

Business: A defamation action by retractable syringe inventor Douglas Sims has backfired, with a judge finding the former Eastland Medical Systems executive director dishonestly used his position to get $60,000 from the struggling company.

BHP Billiton Iron Ore is poised to unveil one of corporate Australia’s biggest-ever donations to charity.

The rest of the world may be moving on but landfill remains the treatment of choice in Australia for non-recyclable rubbish.

World financial leaders are pledging to act boldly to give a weak and uneven global recovery some momentum.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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