18/06/2015 - 06:49

Morning Headlines

18/06/2015 - 06:49

Bookmark

Save articles for future reference.
Morning Headlines

WA, Woodside edge closer on Browse FLNG project

The WA Government is thought to have agreed to terms governing domestic gas and a local supply chain for the Woodside Petroleum-led Browse venture, marking a significant milestone in the development of the much hyped floating LNG project. The West

CBH to fight to end of the line

CBH has raised the stakes in its bitter battle with Brookfield Rail by issuing an open letter to thousands of WA grain growers warning that they could face decades of uncertainty in getting their crops to port. The West

Woolies in turmoil

Australia’s largest retailer is facing at least 12 months of uncertainty as Woolworths chief executive Grant O’Brien, the architect of an ambitious turnaround plan, fell on his sword after downgrading profits for the second time in four months. The Fin

Sugar code jeopardises trade: Bishop

Foreign Minister Julie Bishop has enlisted the support of the Queensland Labor government to kill off a push by conservatives to partially regulate the sale of sugar, saying it would breach Australia’s international trade obligations and jeopardise future free trade agreement negotiations. The Fin

Drivers to pay through nozzle in Greens deal

The government and the Greens are confident of crunching a deal to increase petrol excise by the spring, using the momentum generated by this week’s agreement to cut the age pension by $2.4 billion. The Fin

Resources tax back on industry’s agenda

The Australian Industry Group has called on the Abbott government to look again at a profit-based tax that would replace royalties, despite the political pain and controversy caused first by Kevin Rudd’s aggressive Resource Super Profit Tax and then Julia Gillard’s watered-down MRRT that raised few taxes. The Aus

Ord study to guide investment

A detailed study of Ord Irrigation Project Stage 3 and an assessment of water resources in the West Kimberley are central features of the Federal Government's multi-billion dollar development blueprint for northern Australia. The West

 

 

The Australian Financial Review

Page 1: Australia’s largest retailer is facing at least 12 months of uncertainty as Woolworths chief executive Grant O’Brien, the architect of an ambitious turnaround plan, fell on his sword after downgrading profits for the second time in four months.

Page 3: The managing director of the $117 billion Future Fund, David Neal, said fund management fees were too high in Australia and more investors will cut out the middle men if costs don’t come down.

The dramatic fall in electricity consumption in the National Electricity Market over the past seven years has finally plateaued with annual power use expected to rise 2 per cent over the next two to three years, according to the national energy forecaster.

Page 4: Foreign Minister Julie Bishop has enlisted the support of the Queensland Labor government to kill off a push by conservatives to partially regulate the sale of sugar, saying it would breach Australia’s international trade obligations and jeopardise future free trade agreement negotiations.

Page 7: Lawyers for mining billionaire Gina Rinehart says claims by her eldest children that she secretly transferred mining assets out of a family trust were a ‘‘dishonest case that was dishonestly made’’.

Page 9: The government and the Greens are confident of crunching a deal to increase petrol excise by the spring, using the momentum generated by this week’s agreement to cut the age pension by $2.4 billion.

Page 12: The future of Woolworths’ $3 billion home improvement business is under a cloud after its chief architect and biggest supporter Grant O’Brien announced plans to retire as chief executive, leaving the door open for his successor to convince the board to pull the plug.

Woolworths chairman Ralph Waters says the group has no plans to hive off its struggling discount department chain Big W, despite continued underperformance and the shock exit of the grocer’s chief executive Grant O’Brien.

Page 14: President Vladimir Putin said on Tuesday that Russia was concerned about an anti-missile defence system near its borders, after announcing that Russia would add more than 40 intercontinental ballistic missiles (ICBM) to its nuclear arsenal this year.

Page 19: The banking regulator’s 10 per cent-a-year cap on housing investor credit growth will have little impact on house prices, according to National Australia Bank.

Page 21: The automation of Patrick’s Port Botany container port could tempt potential global merger partners as Asciano prepares to wield its ‘‘firepower,’’ chief executive John Mullen has revealed.

Former Rio Tinto chief executive Tom Albanese says Australia will remain part of the plan for his soon to be expanded company, Vedanta Resources, as it embarks on an $US11 billion merger with Cairn India.

Page 23: Cash Converters, Australia’s biggest payday lender, is in a trading halt pending the settlement of a class action alleging it charged exorbitant interest rates to vulnerable customers.

 

 

The Australian

Page 1: Tony Abbott is facing another ministerial rift over proposed laws stripping terrorists of citizenship because the draft legislation is not expected to go back to full cabinet for further consideration.

Page 2: The Abbott government has “killed off” plans to put media ownership on the political agenda after the leadership group of the inner cabinet decided against the move to avoid a fight with the main players.

Page 4: Bill Shorten has sparked doubts within the Labor caucus over his decision to vote against a $2.4 billion pension reform as Tony Abbott accuses him of looking after the wealthy rather than ordinary workers.

Page 19: One of the first things former Qantas chief executive Geoff Dixon plans when he steps down as the nation’s most powerful tourism official in the next few weeks is to obtain his responsible service of alcohol certificate so he can pull beers at the 14 pubs he owns with his family or in partnership with John Singleton and investment banker Mark Carnegie.

Rio Tinto’s Western Australian iron ore shipments have been hit by bad weather this quarter, putting its 2015 guidance under threat and helping spur a recent rally in iron ore prices.

Page 20: The Australian Industry Group has called on the Abbott government to look again at a profit-based tax that would replace royalties, despite the political pain and controversy caused first by Kevin Rudd’s aggressive Resource Super Profit Tax and then Julia Gillard’s watered-down MRRT that raised few taxes.

Page 26: Rival streaming service Hulu stepped in and not only agreed to pay more than Netflix but indicated it was fine with episode-stacking, which Fox says helped build the show’s audience by allowing viewers to catch up.

 

 

The West Australian

Page 1: A rogue unit of Corruption and Crime Commission officers allegedly stole cash and property from the watchdog, went fishing in work time, bought or hired 4WD vehicles for private use and falsified records.

Page 3: The amount public housing tenants owe the State Government for repairs, rubbish removal, rent and water bills has blown out to more than $41 million.

Page 4: States would charge their own income tax, GST be extended to fresh food, and school fees and taxes for the highest-paid slashed under a WA Chamber of Commerce and Industry plan.

Page 6: Colin Barnett yesterday declared the Liberal Party should dump Hillarys MP Rob Johnson at the next election.

Page 11: Aboriginal Affairs Minister Peter Collier has accused the Federal Government of being heartless for pulling funding out of services in disadvantaged communities.

A detailed study of Ord Irrigation Project Stage 3 and an assessment of water resources in the West Kimberley are central features of the Federal Government's multi-billion dollar development blueprint for northern Australia.

Page 13: The Federal Government has signalled it is unlikely to pursue media reforms after a push for a wide-ranging inquiry into television and newspaper ownership rules was killed off.

Page 16: Colin Barnett has played down the significance of research suggesting electric barriers or bursts of bubbles could protect WA beaches from shark attacks.

Business:  The WA Government is thought to have agreed to terms governing domestic gas and a local supply chain for the Woodside Petroleum-led Browse venture, marking a significant milestone in the development of the much hyped floating LNG project.

CBH has raised the stakes in its bitter battle with Brookfield Rail by issuing an open letter to thousands of WA grain growers warning that they could face decades of uncertainty in getting their crops to port.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options