22/06/2015 - 06:35

Morning Headlines

22/06/2015 - 06:35

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Morning Headlines

Harvest record hope in billion-dollar rain

Farmers are calling it a billion-dollar boost to the WA economy after weekend rain came at a crucial time for crops throughout grain growing regions. The West

South32 faces earnings slide, growing pains hit

South32 faces the spectre of a significant earnings slump, as the young company ends its first month on the market in the midst of growing pains. The Fin

Carna heading for wind-up

Recoveries by unsecured creditors of Carna Group are reliant on a successful pursuit of Griffin Coal following a recommendation by administrators the mining contractor be wound up. The West

Resist attempts to limit energy choice: Shell boss

The managing director of Clive Palmer’s flagship company in Western Australia, Vimal Sharma, was suspected of feigning sudden illness, including chest pains, as a ruse to avoid being grilled further under oath about claims of a major alleged fraud. The Aus

‘More holistic’ leadership will save billions

Large infrastructure projects must be better managed as research shows Australia could save billions by improving the delivery of megaprojects, says Tony Shepherd, the WestConnex Delivery Authority chairman and adviser to Prime Minister Tony Abbott. The Fin

Aldi steps up $750m push into west

German discounter Aldi will take advantage of turmoil at Woolworths and the collapsing market share of independent supermarkets supplied by wholesaler Metcash to ramp up its $750 million expansion plans in South Australia and Western Australia, opening up to 20 stores in each state by next year. The Aus

 

 

The Australian Financial Review

Page 1: South Australia is pushing to reshape the goods and services tax debate ahead of next month’s federal-state leaders’ retreat, arguing for a modification of the tax by including financial services in the GST base, rather than a more radical overhaul.

The Construction, Forestry, Mining and Energy Union will pay $3.55 million to Grocon over the bitter Myer Emporium dispute, in a significant financial setback for the union’s militant Victorian branch.

Page 4: The benefits of Social Services Minister Scott Morrison’s flagship pension reforms have been overstated and would undermine the attractiveness of annuity-style investment products, an industry superannuation lobby group has warned.

Page 11: Private education provider Evocca College has replaced its CEO after coming under investigation by its industry body following allegations that it had low graduation rates and signed up students who were not capable of completing courses.

Page 13: Large infrastructure projects must be better managed as research shows Australia could save billions by improving the delivery of megaprojects, says Tony Shepherd, the WestConnex Delivery Authority chairman and adviser to Prime Minister Tony Abbott.
Page 15: South32 faces the spectre of a significant earnings slump, as the young company ends its first month on the market in the midst of growing pains.

Page 16: Australia’s superannuation system may be the envy of the world but a bipartisan approach to reform is needed to ensure it delivers what it was designed to, says the boss of the most successful corporate fund in the country.

 

 

The Australian

Page 1: The managing director of Clive Palmer’s flagship company in Western Australia, Vimal Sharma, was suspected of feigning sudden illness, including chest pains, as a ruse to avoid being grilled further under oath about claims of a major alleged fraud.

Page 5: Shell Australia country chairman Andrew Smith has warned against “glib, simplistic” statements on coal, declaring that no nation has prospered by demonising affordable energy.

Page 19: Retiring Telstra chief executive David Thodey plans to join billionaire James Packer in working with the Paul Bassat-led venture capital firm, Square Peg Capital, to pursue more investments in Israel.

German discounter Aldi will take advantage of turmoil at Woolworths and the collapsing market share of independent supermarkets supplied by wholesaler Metcash to ramp up its $750 million expansion plans in South Australia and Western Australia, opening up to 20 stores in each state by next year.

Page 21: Australia’s biggest fruit and vegetable grower and supplier, the Costa Group, is expected to offer about 60 per cent of its shares to institutions and new investors when it lists on the Australian Stock Exchange next month.

 

 

The West Australian

Page 1: The cash-strapped WA Government will not give children aged under 12 free entry to this year's Perth Royal Show as another saving for its Budget.

Page 3: Tony Abbott is being forced to reconsider his preference for a modest carbon emission reduction target ahead of climate talks in Paris in November.

Page 4: WA spread the wealth of the mining boom among poor and rich better than anywhere else in the country, a new report has found.

Page 5: Farmers are calling it a billion-dollar boost to the WA economy after weekend rain came at a crucial time for crops throughout grain growing regions.

Page 6: Labor could be without a State secretary for months as powerbrokers grapple with how to replace Simon Mead.

Page 13: Opposition Leader Bill Shorten says he can’t rule out workers’ union fees being paid by construction companies while he was boss of the Australian Workers Union but insists no member was ripped off to benefit the union.

Page 14: Liberal backbencher Peter Abetz wants the Government to commit to construction of a rail line linking Cockburn and Thornlie within five years.

Page 19: More than $1 billion will need to be spent over the next five years upgrading Perth’s recycling system if the State Government wants to hit its targets for stopping waste going to landfill.

Business: Recoveries by unsecured creditors of Carna Group are reliant on a successful pursuit of Griffin Coal following a recommendation by administrators the mining contractor be wound up.

Australia has overstated the difficulty of doing business in Japan and should divert its socalled “China focus” to growing market opportunities with its second-biggest trading partner, according to the head of the Australian business lobby in Tokyo.

 

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