10/02/2015 - 06:20

Morning Headlines

10/02/2015 - 06:20

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Morning Headlines

Marmion serves Roy Hill safety standard scolding

Mines Minister Bill Marmion has warned senior Roy Hill executives the company, majority owned by Gina Rinehart, cannot hide behind its contractors over poor safety standards at the $10 billion project. The West

Abbott told to dump Hockey

Tony Abbott is under pressure to replace Treasurer Joe Hockey with Malcolm Turnbull after the Prime Minister’s own leadership was left hanging by a thread at Monday’s meeting of Liberal MPs. The Fin

From $1.3m to $360k, the bust hits home

The fall in the price of iron ore has ended an era of astonishing rents in the Pilbara and opened the door to families and small business operators who were pushed out at the peak of the boom, according to local MP Brendon Grylls. The Aus

Tax amnesty to dig up $4bn stash

The Australian Taxation Office expects to locate more than $4 billion held in secret offshore bank accounts — generating more than $600 million in extra tax revenue — as a result of an amnesty it offered to people who came clean. The Aus

Support for councils reform plan evaporates

The State Government has lost one of its last allies in council reform as frustrated Liberal backbenchers prepare to demand an explanation from Colin Barnett over concerns that proposed mergers have been badly mishandled. The West

Metals X scores Tanami stake

Peter Cook’s Metals X could be producing 500,000 ounces of gold a year by the end of 2016, after the company extended its acquisition spree with a majority stake in Tanami Gold’s Central Tanami project. The West

 

 

The Australian Financial Review

Page 1: Tony Abbott is under pressure to replace Treasurer Joe Hockey with Malcolm Turnbull after the Prime Minister’s own leadership was left hanging by a thread at Monday’s meeting of Liberal MPs.

Page 3: Foreign property buyers are set to be hit with stiff application fees to help the government monitor illegal purchasing and prevent distortions in prices.

Page 5: Australia is at risk of heading down the path of Greece if it doesn’t get its act together and refocus on the big issues, top businessman Graham Bradley has warned.

Page 9: Qantas Airways frequent flyers will be allowed to bid for upgrades to any empty business class seats a week before they fly, in an initiative designed to increase loyalty to the airline and boost revenue.

Page 10: New figures reveal the local technology investment scene is growing despite increasing concerns that the venture capital scene will be steamrollered by significantly larger US funds.

Small, modular nuclear power facilities that provide energy to industry could be the best way for Australia to begin nuclear power generation, according to one of the leading players in Australia’s uranium sector.

Page 15: Remuneration is carefully evaluated for bank bosses and the intricacies of CEO pay mean there will be winners and losers when it comes to carving out performance shares or award shares for the performance of banks in 2014.

Ansell chief executive Magnus Nicolin says acquisitions are back on the agenda after two major deals completed by the rubber glove and condom maker last year have beaten management’s expectations.

Page 17: MasterChef guy’s start-up raises $160m HelloFresh, the meal-kit delivery service taking on the major supermarket chains, aims to grow sales, cut costs and give customers more choice after raising another $161 million from investors in Germany, Sweden and the United States.

 

 

The Australian

Page 1: Australians are being told that “good government starts today” as Tony Abbott tries to recover from a damaging leadership spill by fixing unpopular policies, changing his office and dropping unwinnable fights with the Senate.

Tony Abbott’s top business adviser has warned that any early chance of fixing the budget “seems to have all but evaporated” since the leadership spill motion and a “softly, softly” approach to reform is likely at a time when strong action is needed.

Page 2: Australia’s growth-focused G20 agenda is at risk of failing as a result of a worldwide slowdown in the pace of economic reform in rich countries, fuelled in part from fears of growing inequality, the OECD has warned.

The fall in the price of iron ore has ended an era of astonishing rents in the Pilbara and opened the door to families and small business operators who were pushed out at the peak of the boom, according to local MP Brendon Grylls.

Page 4: Anger at Tony Abbott’s top adviser is set to force changes in the Prime Minister’s Office as Liberal MPs press for the resignation of Peta Credlin to demonstrate a new approach to government.

Page 7: The National Disability Insurance Scheme is failing to work with the federal government’s antiquated $1 billion employment service and is being forced to push people into controversial sheltered workshops, says chief executive David Bowen.

Clive Palmer has vowed to continue pumping millions of dollars into his fledgling Palmer United Party, declaring it a better use of his finances than letting the money “rot away” in a bank.

Page 17: The Australian Taxation Office expects to locate more than $4 billion held in secret offshore bank accounts — generating more than $600 million in extra tax revenue — as a result of an amnesty it offered to people who came clean.

Page 18: Coal prices are expected to weaken further this year, as the market bumps along the bottom but Australia is tipped to fare better than its global competitors.

Page 19: Canada’s Saputo, one of the 10 biggest dairy processing companies in the world, will accelerate its growth in Australia via an aggressive acquisition strategy as chief executive Lino Saputo chases his dream of securing a pool of 1 billion litres of milk from local farmers.

 

 

The West Australian

Page 5: WA Football Commission chief executive Gary Walton and West Coast Eagles chairman Alan Cransberg say a western derby deserves to be the match to launch Perth’s new stadium given the State’s two AFL clubs will be the $1 billion venue’s main tenants.

Page 6: The State Government has lost one of its last allies in council reform as frustrated Liberal backbenchers prepare to demand an explanation from Colin Barnett over concerns that proposed mergers have been badly mishandled.

Page 9: Tony Abbott has abandoned much of his ambition to pursue tough reforms after being given a last chance by colleagues to salvage his prime ministership.

Page 11: The Federal Government has been urged to boost the economy by lifting the GST, broadening its reach and cutting the company tax rate.\

Tony Abbott says he can beat Opposition Leader Bill Shorten just as he defeated Labor prime ministers Kevin Rudd and Julia Gillard.

Page 13: The captain of Northcliffe’s volunteer bushfire brigade has blasted the State Government, saying budget cuts and “Perthcentric” control made it harder to fight last week’s blaze.

Business: Mines Minister Bill Marmion has warned senior Roy Hill executives the company, majority owned by Gina Rinehart, cannot hide behind its contractors over poor safety standards at the $10 billion project.

The parent company of Balcatta dairy processor Brownes is understood to have refinanced $72 million in debt that was due to be repaid next month.

One year after its spectacular collapse, the insolvency specialists chasing funds for creditors of Forge Group have had some wins but face lengthy disputes with some of the engineering company’s biggest former clients.

Peter Cook’s Metals X could be producing 500,000 ounces of gold a year by the end of 2016, after the company extended its acquisition spree with a majority stake in Tanami Gold’s Central Tanami project.

Decmil Group is investigating allegations of inappropriate behaviour by one of its employees during a business trip to China.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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