17/06/2015 - 06:50

Morning Headlines

17/06/2015 - 06:50

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Morning Headlines

Well drilled as Waitsia excites AWE

A first appraisal of AWE and Origin Energy’s Waitsia discovery, near Dongara, has confirmed what the field’s partners have touted as potentially the biggest onshore conventional gas find in WA in half a century. The West

Albanese aims for a BHP, but gets a South32

Former Rio Tinto chief executive Tom Albanese reckons he is back in the big league, after a megamerger involving his diversified mining company Vedanta Resources sparked comparisons to BHP Billiton and Vale. The Fin

Buffett to play on the ASX

Warren Buffett will become a major player in the Australian sharemarket by investing more than $2 billion a year from an investment in Insurance Australia Group. The Fin

FTAs mean $4500 per household in 20 years

The average Australian household will have an extra $4500 at its disposal annually by 2035 due to cheaper imports stemming from the free trade agreements with South Korea, China and Japan. The Fin

Australia set to reap $20bn export boost

China’s tumbling trade barriers will stimulate billions of dollars of growth for Australian goods and services, with exports to northern Asian markets expected to grow in value by $20 billion over the next 20 years. The Aus

TPG’s iiNet takeover overcomes opposition

iiNet chairman Michael Smith says opposition to a $1.56 billion takeover by TPG Telecom has melted away and that he expects competition regulators to approve the deal. The Fin

 

 

The Australian Financial Review

Page 1: Warren Buffett will become a major player in the Australian sharemarket by investing more than $2 billion a year from an investment in Insurance Australia Group.

Australians are being ‘‘irrationally exuberant’’ and borrowing too much to invest in housing, exposing the economy to financial shocks, global bond fund giant PIMCO says.

Page 3: Federal government departments are paying huge bills for workers compensation but are unable to escape the monopoly of the federal workplace insurer, Comcare, which itself spends 6.17 per cent of its payroll on workers compensation insurance.

Page 4: Private colleges will find it easier to benefit from Australia’s booming international student business, following changes to the student visa system announced by the federal government on Monday.

Page 5: The failure to revive productivity growth will lock in four more years of weak growth and condemn Australians to deteriorating living standards, weak government revenues and flat-lining investment, new research has found.

Page 7: The average Australian household will have an extra $4500 at its disposal annually by 2035 due to cheaper imports stemming from the free trade agreements with South Korea, China and Japan.

Page 8: The Australian Taxation Office expects to contact more than 350,000 taxpayers who have errors in their tax returns and cross-check data from third parties as it moves to clamp down on dodgy claims.

Page 10: Bianca Rinehart, the daughter of mining mogul Gina Rinehart, was bullied into signing a deed that in effect reduced her entitlement to distributions from a multibillion-dollar family trust and renounced her legal rights to challenge her mother’s conduct as its trustee, a court has heard.

Page 11: Confidential deals involving Toll Holdings paying the Transport Workers’ Union up to $300,000 to use its right-of-entry powers to monitor and crack down on the company’s rivals have been found not to breach competition laws.

Page 15: Westpac is moving to bolster its balance sheet and lower its exposure to funds management, selling down its stake in BT Investment Management by up to $700 million.

Page 17: Former Rio Tinto chief executive Tom Albanese reckons he is back in the big league, after a megamerger involving his diversified mining company Vedanta Resources sparked comparisons to BHP Billiton and Vale.

Page 18: iiNet chairman Michael Smith says opposition to a $1.56 billion takeover by TPG Telecom has melted away and that he expects competition regulators to approve the deal.

 

 

The Australian

Page 1: A populist fight on pension reform backfired on Bill Shorten when the federal government struck a deal with the Greens to legislate the savings amid claims that Labor was defending “welfare for millionaires” who should accept a cut to their payments.

Page 4: China’s tumbling trade barriers will stimulate billions of dollars of growth for Australian goods and services, with exports to northern Asian markets expected to grow in value by $20 billion over the next 20 years.

Page 6: Barnaby Joyce has reinforced his views that foreign governments or state-owned companies should not be allowed to buy Australian farmland or agriculture, putting him at odds with Tony Abbott.

The navy is considering buying futuristic unmanned helicopters to operate from its new warships to greatly boost the potency of the fleet.

Page 8: Aboriginal leaders are calling for a new wave of land rights reform to boost economic development in indigenous communities and build on the native title legislation they say has been undermined by bureaucracy.

Page 19: Coles will make more space available on its supermarket shelves for new and innovative brands around on-trend consumer tastes, such as organic and low-GI food, by greatly increasing the number and scope of category range reviews it conducts every year with its suppliers.

Page 20: More than 30 farm families, local investment syndicates, meat companies, foreign investors and global pension funds have expressed early interest in bidding for Australia’s third-biggest cattle group, the SK Kidman and Co cattle empire founded in 1899 by cattle king Sir Sidney Kidman.

Page 23: The corporate watchdog has flagged a major crackdown on poor culture in the financial services industry, appealing for the introduction of criminal sanctions where firms and management have tolerated or encouraged an environment where misconduct has flourished.

 

 

The West Australian

Page 1: Premier Colin Barnett and experts from the University of WA’s Oceans Institute will today reveal the main findings of a 21/2-year $646,000 State-funded research project that was launched after a spate of fatal shark attacks in WA.

Page 3: Labor is likely to promise to turn back asylum seeker boats for the next election as Opposition Leader Bill Shorten admits the Rudd and Gillard governments erred in handling the issue.

Page 13: The State Government has given the green light for a major housing estate to be built under Perth Airport’s flight paths, despite fears it could lead to increased noise complaints and pressure for a curfew.

Page 22: Australia’s free trade agreements with China, Japan and South Korea will deliver a combined $17 billion annual increase to exports in today’s dollars within 20 years, according to modelling.

Business: The leaders of WA’s two main rural lobby groups have found plenty in common after a move to end years of bickering between their organisations.

A first appraisal of AWE and Origin Energy’s Waitsia discovery, near Dongara, has confirmed what the field’s partners have touted as potentially the biggest onshore conventional gas find in WA in half a century.

Perth IT services provider Empired has continued its recent run of contract wins, announcing a $15 million deal with Singaporean firm InterOil Corporation.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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