21/01/2015 - 05:54

Morning Headlines

21/01/2015 - 05:54

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Morning Headlines

Lower expectations for Hughes car group float

WA’s best-known car dealer, John Hughes, says the sharemarket float of his empire will raise “significantly less” than the $200 million expected this time last year after two lacklustre Budgets and the end of the mining boom. The West

Higher ed deal a $2bn budget hit

The Abbott government is prepared to sacrifice up to $2 billion in budget savings in a bid to regain momentum and kick-off the new year with a much-needed political victory on higher education reform. The Aus

Scarborough seafront revamp to create ‘WA’s best coastal destination’

WA’s biggest and most expensive beachfront revitalisation will result in the creation of four new “destinations” at Scarborough, featuring family-friendly parks, a new surf life-saving clubhouse, restaurants, bars, cafes and landscaping. The West

Gateway status a hurdle for Perth

Perth Airport wants to be removed as a major international gateway to Australia because it believes it will make it easier to attract overseas airlines. The Aus

Aldi gears to expand its footprint

Discount supermarket chain Aldi is planning to expand its presence in Australia with new outlets in South Australia and Western Australia next year and could open a potential 100 new stores on the eastern seaboard over the next five years. The Aus

Sirius stock jumps on gold discovery

Sirius Resources’ reputation for exploration success continues to grow, after the nickel aspirant reported strong gold results from its first drilling of a new area in Western Australia. The Fin

Compete with NBN and pay, says Turnbull

Companies such as TPG Telecom which compete directly with the national broadband network will have to pay a levy to help build the network in remote areas, Communications Minister Malcolm Turnbull said. The Fin

 

 

The Australian Financial Review

Page 1: The Chinese economy hit its lowest annual growth rate since 1990 last year and will slow further over the next two years, according to the International Monetary Fund, posing a major challenge to Australia.

Page 2: Companies such as TPG Telecom which compete directly with the national broadband network will have to pay a levy to help build the network in remote areas, Communications Minister Malcolm Turnbull said.

Page 4: The deregulation of higher education fees will be the top parliamentary priority next month for Prime Minister Tony Abbott, who warned of a “long, hard slog” ahead as he deals with a hostile Senate and rumoured discord with his cabinet ministers.

Page 11: Rio Tinto is digging into a $1.5 billion iron ore stockpile to fight off Glencore’s Ivan Glasenberg.

WIN Corporation owner Bruce Gordon is likely to oppose a potential $590 million sale of Ten Network Holdings to US cable giant Discovery Communications in favour of his own alternative debt proposal that gives him more control over the embattled commercial broadcaster.

Aldi Australia chief executive Tom Daunt said it was ‘perfectly possible’ the discount retailer could surpass $9 billion in sales.

Page 13: Atlas Iron managing director Ken Brinsden is confident the miner can rebound from a tough December quarter, arguing plunging freight costs were off setting a weak iron ore price and boosting its profitability.

Page 17: Sirius Resources’ reputation for exploration success continues to grow, after the nickel aspirant reported strong gold results from its first drilling of a new area in Western Australia.

Australia’s largest tin mining company, is defying a two-year slump in prices with plans to increase output by about 14 per cent.

Page 25: Perth-based Phytotech is seeking to raise $5 million through 25 million shares at 20¢ each through its float on the Australian Securities Exchange.

 

 

The Australian

Page 1: The Abbott government is prepared to sacrifice up to $2 billion in budget savings in a bid to regain momentum and kick-off the new year with a much-needed political victory on higher education reform.

Page 2: Tony Abbott has accused Labor of plotting “secret tax increases” as business groups and Liberal MPs said the income tax scales should be indexed to stop bracket creep punishing ordinary workers.

Page 5: Resources companies faced with tumbling commodity prices could save millions by reducing big fly-in, fly-out workforces and hiring the nation’s growing pool of local indigenous labour, an Aboriginal business leader says.

Page 17: Plummeting iron ore prices have prompted the Chinese government-backed Citic to write down the value of its Sino Iron project in Western Australia by up to $US1.8 billion ($2.2bn), a further blow to one of the mining boom’s most disastrous projects.

Discount supermarket chain Aldi is planning to expand its presence in Australia with new outlets in South Australia and Western Australia next year and could open a potential 100 new stores on the eastern seaboard over the next five years.

Page 18: Rio Tinto’s commitment to cash returns for shareholders is coming under more focus as the iron ore outlook continues to weaken.

Page 19: Perth Airport wants to be removed as a major international gateway to Australia because it believes it will make it easier to attract overseas airlines.

Independent Senator Nick Xenophon yesterday wrote to Education Minister Christopher Pyne, proposing the government commit to a full review of higher education, with universities allowed to increase fees up to a capped level as an interim measure.

 

 

The West Australian

Page 1: WA’s biggest and most expensive beachfront revitalisation will result in the creation of four new “destinations” at Scarborough, featuring family-friendly parks, a new surf life-saving clubhouse, restaurants, bars, cafes and landscaping.

Page 3: Hospitals are being warned to brace for thousands more cancer patients in WA because more people are being diagnosed through screening or living longer with the disease.

Page 6: Tony Abbott has denied claims of a Cabinet rift over Medicare spending, as he insisted it was important to get changes right.

Page 9: Public school Sevenoaks Senior College was the only one in WA to achieve 100 per cent success in getting students into their first choice of university course this year.

Page 14: WA’s best-known car dealer, John Hughes, says the sharemarket float of his empire will raise “significantly less” than the $200 million expected this time last year after two lacklustre Budgets and the end of the mining boom.

Page 17: Federal WA Labor MP Gary Gray has urged the major parties to compromise to find a breakthrough in negotiations over changes to the renewable energy target.

Business: China’s CITIC Ltd will slash billions from the value of its troubled Sino Iron magnetite project, flagging the massive impairment as it welcomed a $US10 billion investment in its shares from two of Asia’s other corporate powerhouses.

WA’s economy may be going through a rough patch but should recover if the State can take advantage of nearby Asian markets, former foreign and defence minister Stephen Smith says.

Safety at the giant Roy Hill iron ore project is again under the spotlight, after a third incident involving cranes and heavy lifting equipment.

Empire Oil and Gas has called a trading halt in its shares, hinting at a “significant upgrade” of reserves at its Red Gully project north of Perth.

 

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