18/02/2015 - 05:53

Morning Headlines

18/02/2015 - 05:53

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Morning Headlines

Iron ore miners in ‘battle of balance sheets’

Chinese iron ore miners will prove hard to displace from the market this year despite the confident assertions of Rio Tinto chief executive Sam Walsh, leading to fears the price will ‘‘get ugly’’ in the coming months. The Fin

‘Not enough gas’ for LNG projects

Australia’s emerging gas market is like a ‘‘slow train crash’’ because of a huge shortfall in gas needed to fulfil contracts over the next 20 years according to an analysis that has infuriated an industry that spent $75 billion building LNG plants over the past decade. The Fin

Footy in bid to run stadiums

The WA Football Commission has created a stadium management entity to spearhead not only its push to run the new stadium at Burswood but also other venues inside and potentially outside WA. The West

PM will battle to pass data retention laws

Prime Minister Tony Abbott faces an uphill battle passing contentious data retention laws, with Labor saying it could block key elements unless the government agreed to changes. The Fin

CCA chief determined to bring back its fizz

Coca-Cola Amatil chief executive Alison Watkins says she’s prepared to do whatever it takes to prevent a decline in earnings this year after the soft drink and water bottler posted its lowest profit in eight years. The Fin

GST tweak ‘offers $43bn bonanza’

The major parties’ reluctance to canvass lifting the GST to make the tax system more efficient flies in the face of new research showing the extra revenue could be used to cut taxes and lift welfare payments, leaving all income groups better off. The Aus

 

 

The Australian Financial Review

Page 1: Australia’s emerging gas market is like a ‘‘slow train crash’’ because of a huge shortfall in gas needed to fulfil contracts over the next 20 years according to an analysis that has infuriated an industry that spent $75 billion building LNG plants over the past decade.

The worst is over for Coca-Cola Amatil, the former market darling that posted its lowest profit in eight years in 2014, according to chief executive Alison Watkins.

Page 4: Fixing the budget must involve a tough crackdown on generous superannuation concessions to wealthy Australians as well as counting the family home in the pension assets test, according to a growing consensus among budget experts.

One of the instigators of the push against Tony Abbott’s leadership, Warren Entsch, said he asked Mr Abbott to sack Philip Ruddock as chief government Whip.

Page 6: The owner of US film Dallas Buyers Club wants internet service provider iiNet to hand over email addresses that would reveal the identities of thousands of Australians who illegally pirated the film, a court has heard.

Page 7: Bonds and other underwear makers could increase prices as much as 10 to 15 per cent next year because of the sharp drop in the dollar, which has made it more expensive to manufacture clothing in Asia.

Page 9: Prime Minister Tony Abbott faces an uphill battle passing contentious data retention laws, with Labor saying it could block key elements unless the government agreed to changes.

Page 13: Chinese iron ore miners will prove hard to displace from the market this year despite the confident assertions of Rio Tinto chief executive Sam Walsh, leading to fears the price will ‘‘get ugly’’ in the coming months.

Page 15: Miner’s profit plunges 81 per cent Fortescue Metals Group is confident it can hammer cash costs down to just $US20 a tonne within about 15 months, but chief executive Nev Power has insisted the current iron ore price failed to benefit anyone.

Page 17: Challenger is looking to grow its retail annuity business by up to 13 per cent this financial year, even as it combs for new partners among some of Australia’s biggest superannuation funds and investment platforms to sell more annuities.

Page 18: SEEK chief executive Andrew Bassat says the employment classifieds giant can continue to deliver strong profit growth, despite rising unemployment and a weaker-than expected first-half result.

Page 19: Signs that the mineral sands market may be edging towards a recovery helped to push miner Iluka Resources’ shares higher on Tuesday, despite the miner swinging to a full-year loss.

 

 

The Australian

Page 1: Australia has failed to test any frozen berry imports for pathogens harmful to humans despite similar products being linked to hepatitis outbreaks across Europe and North America, prompting demands for urgent reform.

Students with HECS debts who move overseas should pay at least $2000 a year off their bills, the architect of the scheme says, arguing that if they can afford to go to Europe, they can afford to pay off what they owe taxpayers.

Page 3: A seven-month industrial dispute between Boral and the CFMEU has escalated rapidly after the construction giant wrote to union officials alleging illegal actions including intimidating contractors and obstructing work sites.

Page 4: The major parties’ reluctance to canvass lifting the GST to make the tax system more efficient flies in the face of new research showing the extra revenue could be used to cut taxes and lift welfare payments, leaving all income groups better off.

Page 7: Wind power company Pacific Hydro has ended its research into possible impacts on nearby residents at the Cape Bridgewater wind farm in Victoria, with some residents planning to abandon their homes and consider legal action.

Page 19: Fortescue Metals boss Nev Power has warned that talk of flooding the iron ore market with new supply has drained “enormous” amounts of money from the Australian economy.

Investors have birched ANZ Bank after a disappointing first-quarter result, with pressure on the global markets business and challenges in trade finance as the collapse in commodity prices feeds through to lower-value shipments.

Page 20: The under-pressure but cashed-up Mount Gibson Iron is continuing to look at acquisitions outside iron ore as prices remain subdued and as it decides over coming months whether to restart its Koolan Island mine, which stopped production in October after being flooded.

Page 21: Dick Smith chief executive Nick Abboud has fired a shot across the bow of his biggest competitor, JB Hi-Fi.

Global packaging giant Amcor says it retains substantial firepower to pursue an estimated $US2 billion pipeline of acquisitions as it reiterated its forecast of higher earnings for the full year and revealed a surprise $US500 million ($643m) share buyback.

 

 

The West Australian

Page 3: The WA Football Commission has created a stadium management entity to spearhead not only its push to run the new stadium at Burswood but also other venues inside and potentially outside WA.

Page 6: Covert stings at WA greyhound training facilities will be ramped up after revelations of barbaric east coast practices that have rocked the national sport.

Page 11: Patients could still face higher out-of-pocket costs even if the Abbott Government dumps its unpopular co-payment proposal.

Page 14: Retirees could sell their homes without losing their pension under a Federal Government proposal that would punch another hole in the Budget.

Business: Fortescue Metals Group has stuck to its guns on its dividend policy despite tumbling iron ore prices.

Atlas Pearls and Perfumes has taken a series of emergency financial measures to withstand a looming shortfall as it harvests a crop of undersized pearls.

WA businesses as diverse as Monadelphous and Jason Windows are tapping the management know-how that has moulded Japan’s industrial powerhouses.

Gina Rinehart’s Hancock Prospecting has reached a settlement with Wright Prospecting over access to their joint venture documents.

CBH has blasted Transport Minister Dean Nadler over his response to a parliamentary committee’s damning report into the management of WA’s freight rail network.

A small but significant component of Chevron’s $US29 billion ($37.2 billion) Wheatstone venture near Onslow has been completed, on time and on budget.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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