30/01/2015 - 05:43

Morning Headlines

30/01/2015 - 05:43

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Morning Headlines

Woodside in talks on China LNG price

Woodside Petroleum and its partners have taken the first step in securing a price increase for their 25-year Chinese liquefied natural gas sales contract by securing a series of meetings this week with officials in the southern province of Guangdong. The Fin

Write-downs, cost cuts on oil slump

The heavy toll of the collapse in crude oil prices is starting to hit home with Oil Search, Beach Energy and AWE among those advising of reduced costs and budgets, and some of write-downs. The Fin

Liberals give Abbott six months

Tony Abbott has until the second half of this year to turn around the government’s fortunes or risk losing his job, his colleagues say. The Fin

Ratings agencies cut Atlas Iron on falling iron ore prices

Credit ratings agencies have cut their ratings on Atlas Iron as the plummeting price for the key steelmaking commodity puts a strain on the junior miner’s balance sheet. The Fin

Palmer’s new Citic defence slammed

Clive Palmer’s court battle over serious allegations that he fraudulently siphoned more than $12 million in Chinese funds has veered into new territory, with his legal team accused yesterday of mounting a “scandalous” defence with flimsy foundations. The Aus

Bishop firms as top tip if Abbott falls

Julie Bishop is firming as favourite among disgruntled backbenchers to replace Tony Abbott amid mounting internal dissatisfaction over the Prime Minister’s leadership. The West

 

 

The Australian Financial Review

Page 1: Tony Abbott has until the second half of this year to turn around the government’s fortunes or risk losing his job, his colleagues say.

Page 3: Market bets on an interest rate cut as early as next Tuesday’s Reserve Bank of Australia meeting soared after one prominent RBA watcher said easing was as good as certain.

Page 6: The federal government’s commitment to the rest of the world to build the economy over the next five years has started to unravel with the jettisoning and watering down of budget measures.

Page 10: Many landfill operators haven’t refunded up to $200 million they charged for carbon tax liabilities that will no longer happen because of the repeal of the carbon tax, according to the competition watchdog.

Page 13: The heavy toll of the collapse in crude oil prices is starting to hit home with Oil Search, Beach Energy and AWE among those advising of reduced costs and budgets, and some of write-downs.

A falling Australian dollar and a collapse in the oil price are underpinning Fortescue Metals Group’s hopes of cutting costs further this half, as the miner strives to keep its break-even position comfortably ahead of a massive slump in the iron ore price.

Page 15: Woodside Petroleum and its partners have taken the first step in securing a price increase for their 25-year Chinese liquefied natural gas sales contract by securing a series of meetings this week with officials in the southern province of Guangdong.

Page 16: Orica chairman Russell Caplan has raised expectations the mining explosives giant intends to pursue capital management as he warned there is no short-term relief in sight for Orica’s struggling mining customers.

Page 17: Westpac Banking Corp is reducing its presence in the Pacific by selling its banks in Samoa, the Cook Islands, the Solomon Islands, Vanuatu and Tonga for $125 million.

Page 18: Virgin Australia is known for offering bargain airfares, including Happy Hour sales. Still, even shareholders aren’t getting the kind of deal that Richard Branson is.

Page 19: Credit ratings agencies have cut their ratings on Atlas Iron as the plummeting price for the key steelmaking commodity puts a strain on the junior miner’s balance sheet.

 

 

The Australian

Page 2: Australia’s spy watchdog has warned parliament ASIO must be prevented from storing data about citizens’ phone and internet use that has no relevance to national security investigations.

The Abbott government will mount a vigorous anti-Labor cost-of-living campaign, backed by data showing big cuts in power prices following the repeal of the carbon tax, contrasting this with Labor’s threats to set a price on cutting pollution.

Page 3: Clive Palmer’s court battle over serious allegations that he fraudulently siphoned more than $12 million in Chinese funds has veered into new territory, with his legal team accused yesterday of mounting a “scandalous” defence with flimsy foundations.

Page 5: A budget measure meant to save the government $12.3 million will now cost $15.9m, a policy blunder that appears to be the result of a communication breakdown between the Treasurer and the Social Services Minister.

Dreams of a better life, education and solid investments have fuelled movement of migrants to Australia, with more than 28 per cent of the resident population born outside the country.

Page 17: Billionaire rag trader Solomon Lew has again thrown his weight around at the Australian Pharmaceutical Industries annual meeting, with the company recording huge protest votes against the reappointment of two company directors and the granting of performance rights to chief executive Stephen Roche.

Having secured Nexus Energy for about $200 million, Kerry Stokes could now have his eye on Beach Energy as his next target after his Seven Group Holdings took a position in the Adelaide company yesterday.

Page 19: Asset divestment or merger plans at troubled education group Vocation could be jeopardised by ongoing audits conducted by the federal regulator into its key Learning Verve and Training & Development Australia subsidiaries, with interested parties warning reputational risks would have to be factored into the sale price of any part of the business.

Page 21: Major fund manager Antares Equities expects Westfield Corporation will sell its second-tier malls in the US in what would be a second major restructure of the group born out of last year’s painful demerger.

Page 25: Jetstar is edging closer to potential disruptions after a ballot on protected industrial action began this week for more than 400 pilots.

 

 

The West Australian

Page 3: Perth can expect to be swept off its feet by The Giants over the Valentine’s Day weekend but the romance will come at the cost of temporary road closures across the city and Northbridge.

Page 5: Julie Bishop is firming as favourite among disgruntled backbenchers to replace Tony Abbott amid mounting internal dissatisfaction over the Prime Minister’s leadership.

Page 9: Swedish fashion giant H&M will open its first WA store in Joondalup this year and plans to have a flagship city store next year.

Page 14: The Water Corporation will sell its construction division to the private sector, leaving the employment of 150 workers at its Shenton Park depot uncertain.

Page 20: Nine food trucks selling everything from gelato-topped waffles to slow-cooked ribs have been given four months to test Perth city’s appetite for food on wheels.

Page 24: A former Westpac bank manager spent his first hours behind bars last night after pleading guilty to defrauding a customer out of more than $500,000.

Business: Facebook chief executive Mark Zuckerberg says the social media giant’s move to prioritise showing its members video in news feeds is paying off in a big way.

Google’s push to make its AdWords search advertising more attractive to small and medium-sized businesses has seen the internet giant join forces with The West Australian.

Brierty has won a $69 million Main Roads WA contract to upgrade the North West Coastal Highway in the Gascoyne and Pilbara.

Global Construction Services shareholders have backed construction giant Brookfield taking a 15 per cent stake in the company.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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