Morning Headlines

Oil price collapse kills hopes of bonus BHP cash returns: analysts

A plunge in the price of BHP Billiton’s two biggest earners, oil and iron ore, has destroyed any hope of additional shareholder returns in 2015, but the miner’s planned $US15 billion ($18.5 billion) spinoff South32 should provide extra returns, mining analysts say. The Fin

Grylls wants an end to work camps

The end of the mining construction boom should be the death knell for fly-in, fly-out work camps in WA’s north, according to Pilbara MP and former Nationals leader Brendon Grylls. The West

Late surge lifts grain forecast

Farmers have delivered a welcome New Year boost for the WA economy thanks to a bigger-than-expected harvest and rising grain prices. The West

CEOs call for Senate overhaul

Australia’s chief executives want urgent changes to how the Senate is elected and longer terms for the House of Representatives. The Fin

Glencore is back; prices are lower

Glencore has re-started coal production in Australia after a flash blanket shutdown across its operations, but has been met with lower prices for the struggling commodity than when it launched the shock move. The Fin

Dollar’s dive props economy

The Australian dollar has slumped to its lowest level since the middle of the global financial crisis, softening the blow to the economy caused by plunging commodity prices. The Aus

The Australian Financial Review

Page 1: Australia’s chief executives want urgent changes to how the Senate is elected and longer terms for the House of Representatives.

Page 3: TPG Telecom has stopped selling the superfast broadband plan that competes against the national broadband network after Communications Minister Malcolm Turnbull imposed extra restrictions.

Page 5: Australians have rejected overwhelmingly the possibility of siding with Japan in a military conflict with China over disputed islands in the East China Sea, according to a public opinion survey.

Page 7: Energy companies want the federal government’s competition law review panel to make it easier to merge, including allowing companies to circumvent the competition watchdog.

Page 11: A plunge in the price of BHP Billiton’s two biggest earners, oil and iron ore, has destroyed any hope of additional shareholder returns in 2015, but the miner’s planned $US15 billion ($18.5 billion) spinoff South32 should provide extra returns, mining analysts say.

Page 13: Glencore has re-started coal production in Australia after a flash blanket shutdown across its operations, but has been met with lower prices for the struggling commodity than when it launched the shock move.

Page 14: Almost $100 billion was wiped off the market value of the six Macau casino stocks in 2014 after a crackdown on corruption by the Chinese government led the gambling enclave to report its first ever fall in gaming revenue.

Aspiring US LNG exporter Liquefied Natural Gas Ltd has beefed up engineering support for its $US3.5 billion ($4.3 billlion) Magnolia venture in Louisiana but is holding firm on its mid-2015 date for financial close even as low oil prices slow the progress of some rival ventures.

Page 20: Aurizon’s Queensland rail operations continue to be hit by rolling strikes and industrial action as disputes with unions over new wage agreements fail to reach an amicable conclusion.

Page 23: Medibank Private offers investors defensive revenue growth but may struggle to keep high-value customers, says Morgan Stanley analyst Daniel Toohey, who has initiated coverage on the recently privatised health insurer with an “underweight” rating.

The Australian

Page 1: The Australian dollar has slumped to its lowest level since the middle of the global financial crisis, softening the blow to the economy caused by plunging commodity prices.

Page 2: Fallout from the planned closure of the Australian motor industry is starting to damage manufacturing output, and raising tension over the government’s plan to wind down its assistance scheme for the industry.

Page 15: A Group promoting Australia-China business relations is pushing the Abbott and state governments to offer incentives, especially “soft support” for projects, to Chinese companies to invest in northern Australia.

In his first comments since oil prices began plunging six weeks ago, BHP Billiton oil and gas chief Tim Cutt says productivity gains will keep margins strong, that he remains focused on shale oil growth and that non-core asset sales will still be pursued.

Page 16: Dexus and GPT could pursue a merger in 2015 to create a $25 billion property powerhouse, according to analysts at Macquarie who also tip further restructures for Westfield and possible takeovers of office landlord Investa and mall owner Novion.

A senior trader in the linear rates department of a group of ANZ bankers has been stood down pending an investigation by the corporate watchdog into possible manipulation of the interbank interest rate.

Page 17: Skilled Group has indicated its intention to pursue business as usual while it mulls a merger proposal from Programmed Group by bringing forward the start date for new chief executive Angus McKay.

The Big Bash League has proved a ratings bonanza for Network Ten with the T20 cricket tournament regularly rating among the top spots in its timeslot.

Page 18: Lend Lease has purchased five premium retirement villages from a company controlled by Oman’s sovereign wealth fund.

The West Australian

Page 5: Speed cameras will soon operate 24 hours a day at the five fixed sites after analysis showed rotating cameras through the locations failed to slow speeding drivers adequately.

Page 13: The end of the mining construction boom should be the death knell for fly-in, fly-out work camps in WA’s north, according to Pilbara MP and former Nationals leader Brendon Grylls.

Business: Farmers have delivered a welcome New Year boost for the WA economy thanks to a bigger-than-expected harvest and rising grain prices.

The daughter of high-profile farmer John Nicoletti is trying to create history by becoming the first woman grower elected to the board of CBH.

The fallout from the collapse of listed law firm aggregator-cum-professional services company ILH Group has snared Rockwell Olivier, with administrators appointed to its Perth operation.

Telstra has continued its aggressive move into the health sector, acquiring Australian e-health cloud software developer Cloud9 and Indian health software developer IdeaObject.

Base Resources’ tilt at mineral sands hopeful World Titanium Resources appears to have stumbled at the first hurdle after the target’s board said yesterday shareholders worth 60 per cent of the company’s stock had committed to reject the offer.