15/06/2015 - 06:39

Morning Headlines

15/06/2015 - 06:39

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Morning Headlines

Forrest ups control over Minderoo

Mining magnate Andrew Forrest has increased his control over the exploration rights to the Ashburton River flowing through his Pilbara pastoral station. The Fin

Austal’s pitch for Saudi ships

Shipbuilder Austal is preparing to take on US competitors targeting a massive Saudi Arabian naval expansion, with chief executive Andrew Bellamy arguing the work could be done in Australia. The West

Premier fights to keep rail secrets

The State Government has launched Supreme Court action to avoid releasing documents on the MAX light rail and airport line that the Information Commissioner ordered the Department of Premier and Cabinet to make public. The West

Synergy looks for $450m cuts

Synergy will cut staff, renegotiate contracts and change the way it provides services as part of efforts to strip $450 million in costs from the taxpayer-owned utility over the next four years. The West

BHP pushes growth as red metal gains

BHP Billiton’s apparent intent to more than double the size of its Olympic Dam mine over the next decade comes as the price outlook for copper appears rosier than the other three “pillar” commodities of the stripped-down company in the wake of the spin-off of South32. The Aus

iiNet pushes ahead with TPG vote

Takeover target iiNet’s shareholders are set to vote on the prospective $1.56 billion merger with TPG Telecom on July 27, with the independent expert’s report on the proposed offer giving it a ringing endorsement. The Aus

Ethics code to clean up planners

The Abbott government and the life insurance industry are on the cusp of an agreement to overhaul the rules covering the industry that will include a reduction in upfront commissions, which can be as high as 120 per cent of the first year’s premium. The Fin

Ex-BBY boss under focus for collapse

Former BBY executive director Glenn Rosewall could face numerous charges under the Corporations Act including allegations of trading while insolvent and breaches of directors’ duties relating to the collapse of the stockbroker. The Aus

 

 

The Australian Financial Review

Page 1: Federal Labor regained its lead over the Coalition in the latest opinion poll, signalling an end to any electoral bounce the government may have received from last month’s budget.

The Abbott government and the life insurance industry are on the cusp of an agreement to overhaul the rules covering the industry that will include a reduction in upfront commissions, which can be as high as 120 per cent of the first year’s premium.

Page 3: Mining magnate Andrew Forrest has increased his control over the exploration rights to the Ashburton River flowing through his Pilbara pastoral station.

Sales of manual cars are declining so quickly that motoring experts believe the transmission will become a niche offering for wealthy sports car lovers and, within a decade, will cease to exist for mainstream car buyers.

John Hancock and Bianca Rinehart, the two eldest children of billionaire Gina Rinehart, will resume a court battle on Monday that could result in the majority of their mother’s mining empire being torn from her control.

Page 6: First-home buyers with a modest loan can afford new homes across the country, but it appears buyers get more bang for their buck out west.

Page 13: The future of Origin Energy’s $1.9 billion majority stake in New Zealand utility Contact Energy is up in the air after Origin chief executive Grant King declared it was no longer so important to underpin the company’s credit rating.

Page 15: Activist investment firm Sandon Capital is increasing the pressure on BlueScope Steel to consider shuttering its embattled Port Kembla steelworks to unlock value for shareholders.

 

 

The Australian

Page 1: Julie Bishop has delivered a stinging rebuke to Jakarta over allegations that Australian officials paid people-smugglers to turn a boat around, with the Foreign Minister suggesting Indonesia was to blame for failing to enforce sovereignty over its own borders.

Stamp duty is Australia’s “worst tax’’ and must be eliminated to improve housing affordability, with the annual $15.7 billion financial windfall to the states replaced by increasing the GST, the property industry and employers say.

Page 4: The salary pool of fewer than a dozen top executives at Airservices Australia rose by more than 40 per cent last financial year to nearly $4 million, applying pressure on the organisation’s chairman, Angus Houston, to explain the blowout.

Page 6: Labor luminary and former union boss Martin Ferguson will campaign to reduce penalty rates in the tourism sector, calling for a new “industrial vision” as he takes over the helm of an influential employer group.

Page 17: Former BBY executive director Glenn Rosewall could face numerous charges under the Corporations Act including allegations of trading while insolvent and breaches of directors’ duties relating to the collapse of the stockbroker.

Network Ten is close to announcing that subscription-TV provider Foxtel will take a 15 per cent stake in the broadcaster, potentially bringing the eight-month sale process to an end.

Woolworths could pocket millions of dollars by forcing grocery suppliers to buy from it directly for all in-store advertising and marketing inside its supermarkets, creating a new division that will sell advertising on everything from trolleys and baskets, to in-store radio, freezer stickers and leaflets hanging from shelves.

Page 18: BHP Billiton’s apparent intent to more than double the size of its Olympic Dam mine over the next decade comes as the price outlook for copper appears rosier than the other three “pillar” commodities of the stripped-down company in the wake of the spin-off of South32.

Page 19: Pepper, a financial services company that writes mortgages and services loans, is set to ramp up marketing for a potential stock exchange listing after booking a sharp jump in revenue and profits last year.

Takeover target iiNet’s shareholders are set to vote on the prospective $1.56 billion merger with TPG Telecom on July 27, with the independent expert’s report on the proposed offer giving it a ringing endorsement.

 

 

The West Australian

Page 1: The State Government has launched Supreme Court action to avoid releasing documents on the MAX light rail and airport line that the Information Commissioner ordered the Department of Premier and Cabinet to make public.

Page 3: WA largely escaped the “resource curse” during the last mining boom, with the growth of non-mining employment during the boom higher than most areas on the east coast.

Page 7: The revitalisation of the Scarborough beachfront has received another tick of confidence from the State’s liquor authority, with the approval of an expanded liquor licence for a popular restaurant.

Page 9: The reach of WA’s so-called “corporate boys’ club” extends into local government, with a Committee for Perth report showing women are severely under-represented across WA councils.

Page 18: Synergy will cut staff, renegotiate contracts and change the way it provides services as part of efforts to strip $450 million in costs from the taxpayer-owned utility over the next four years.

Business: Shipbuilder Austal is preparing to take on US competitors targeting a massive Saudi Arabian naval expansion, with chief executive Andrew Bellamy arguing the work could be done in Australia.

Perth-based online GP booking business HealthEngine is considering a public listing, as its rapid expansion forces it to look beyond its tech-funding roots.

 

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