13/01/2015 - 06:10

Morning Headlines

13/01/2015 - 06:10

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Morning Headlines

Brookfield snares BHP spin-off

Brookfield’s listed office property trust has secured a large 10-year lease at its under-let office towers in Perth, with proposed BHP Billiton spin-off South32 signing on as a tenant and taking naming rights over the building. The Aus

Walsh, Adani lead way on India opportunities

Rio Tinto chief executive Sam Walsh has pressed India’s Prime Minister Narendra Modi for approval to develop the nation’s first diamond discovery in 40 years as well as set up a $US2 billion ($2.4 billion) iron ore project. The West

Barnett roasts critics: WA will ride out its slow patch

Western Australian Premier Colin Barnett has lashed critics of the state’s economy, insisting that low interest rates, a weaker currency and property sales will help buffer a brief “slow patch”. The Fin

ASIC to crack down on miners’ dodgy overseas assets

The corporate regulator plans a crackdown on mining companies promoting risky offshore assets, insider traders, financial planners and investors being duped by misleading advertising. The Fin

Qube edgy over miners’ future

The fate of Pilbara iron ore miners is being closely monitored by Qube Holdings’ investors amid concerns over a financial impact on the logistic group if miners collapse. The Fin

Spud war: rules give grower the chips

One of the nation’s biggest vegetable producers will give away 200 tonnes of potatoes — the equivalent of 50,000 large bags — to consumers this week after he breached Western Australia’s hard-line potato laws by growing more than he is allowed. The Aus

WA employers lead the pack in pay test

A random audit of 94 WA retailers by the Fair Work Ombudsman found 12 employers had underpaid workers and a further seven made technical pay contraventions but did not underpay staff. The West

Blackmans a hit for Ramelius’ golden recovery

Ramelius Resources shares surged more than 36 per cent yesterday after it announced high grade results from regional exploration around its Mt Magnet gold mine in the State’s Mid West. The West

 

 

The Australian Financial Review

Page 1: The corporate regulator plans a crackdown on mining companies promoting risky offshore assets, insider traders, financial planners and investors being duped by misleading advertising.

Page 7: Western Australian Premier Colin Barnett has lashed critics of the state’s economy, insisting that low interest rates, a weaker currency and property sales will help buffer a brief “slow patch”.

Investment in expensive green energy projects in Australia such as wind farms plummeted in 2014 to the lowest level in more than a decade because of uncertainty over the future of the Renewable Energy Target.

Page 11: Santos has pledged to retain its investment grade credit rating despite ratings agency Standard & Poor’s cutting its oil price forecasts for the fourth time in the space of three months, raising the prospect of fresh downgrades for stressed energy producers.

Page 13: Hills Ltd chief executive Ted Pretty says giving up control of the iconic Hills hoist clothesline brand to retailer Woolworths after almost 70 years is a bold step and heavy in symbolism.

The fate of Pilbara iron ore miners is being closely monitored by Qube Holdings’ investors amid concerns over a financial impact on the logistic group if miners collapse.

Page 15: Fitch sees profit growth easing Australian bank profit growth is likely to be slowed down this year by higher bad debt charges and hot competition for customers, a new report from Fitch Ratings says.

 

 

The Australian

Page 1: Online teacher training has the potential to overcome the malaise affecting the sector, with a major audit suggesting the pool of teacher talent is significantly improved using distance education, particularly in regional and remote Australia.

One of the nation’s biggest vegetable producers will give away 200 tonnes of potatoes — the equivalent of 50,000 large bags — to consumers this week after he breached Western Australia’s hard-line potato laws by growing more than he is allowed.

The leader of Australia’s militant building union is among five construction union officials targeted in a $1.1 million court action alleging a campaign of bullying and abusive and obstructive behaviour across three Canberra housing developments.

Page 3: The housing market is cooling as investors pull back from new commitments and owner-occupiers worry about high housing prices and job security.

Page 5: Japan has added cyber security to the growing list of areas in which it is seeking closer collaboration with Australia as officials in Tokyo continue to refer to the Australia-Japan relationship as a “quasi alliance”.

Page 17: Oil price forecasts are tumbling as quickly as the futures they are trying to predict, with the latest cuts from two influential US pundits pushing the international Brent crude benchmark below $US50 a barrel yesterday and putting pressure on local energy stocks.

Page 17: Iron ore’s bright start to the year has come to an abrupt end, with a fall in prices back below $US70 a tonne triggering a fresh sell-down in iron ore stocks.

Page 18: Even as global crude oil prices have collapsed in the last few months, there may still be some good news to salvage for Australia’s energy sector this year.

Singapore-based agribusiness conglomerate Olam International has exited the Australian wool industry with the sale of Western Wool Marketing to fast-growing local firm Quality Wool.

Page 19: Brookfield’s listed office property trust has secured a large 10-year lease at its under-let office towers in Perth, with proposed BHP Billiton spin-off South32 signing on as a tenant and taking naming rights over the building.

The sudden departure of Cardno chief executive Michael Renshaw after just 10 months in the job has triggered a deep fall in the share price of the engineering group.

Western Australia’s environmental regulator has rejected a proposal by Mineral Resources to build an iron ore mine in the state, arguing it would have an irreversible impact on local plants and animals.

Page 20: Weaker-than-expected home lending data and overall soft labour-market conditions are leading more economists to consider the possibility of further interest rate cuts in Australia as oil prices remain low and the economy slows after a decade-long mining-investment boom.

 

 

The West Australian

Page 3: An international basketball series intended to promote Perth to a massive Chinese audience has been scrapped halfway through its four-year term after Basketball Australia decided it was not the best preparation for the 2016 Olympics.

Page 4: Some residents who lost their homes in the devastating Parkerville bushfire are still waiting for insurance payouts — a year after the massive blaze.

Page 9: Forcing riders to carry some form of identification on their bicycle could be the best way to end their current war with motorists, according to the head of one of the nation’s leading bike insurers.

Business: Rio Tinto chief executive Sam Walsh has pressed India’s Prime Minister Narendra Modi for approval to develop the nation’s first diamond discovery in 40 years as well as set up a $US2 billion ($2.4 billion) iron ore project.

Euroz executive chairman Andrew McKenzie has lamented the worst corporate finance conditions “for as long as I can remember” as the Perth broking house yesterday flagged a big fall in half-yearly profit.

A random audit of 94 WA retailers by the Fair Work Ombudsman found 12 employers had underpaid workers and a further seven made technical pay contraventions but did not underpay staff.

Oil stocks led the retreat on the Australian sharemarket yesterday, with news of a new Indian export deal not enough to save WA’s Woodside Petroleum from further falls.

Ramelius Resources shares surged more than 36 per cent yesterday after it announced high grade results from regional exploration around its Mt Magnet gold mine in the State’s Mid West.

 

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