06/07/2015 - 06:30

Morning Headlines

06/07/2015 - 06:30

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Morning Headlines

Telco strongly opposes iiNet bid

Macquarie Telecom has warned the competition regulator that TPG Telecom’s $1.56 billion takeover of iiNet will cause a catastrophic collapse of the wholesale broadband market and force a fundamental rethink on the economics of the National Broadband Network. The Aus

Contractors debate liability for LNG delays

Chevron’s over-budget $US54 billion ($71.8 billion) Gorgon LNG venture, Santos’ $US18.5 billion GLNG project, and Inpex Corporation’s $US34 billion Ichthys project in Darwin are among those understood to be the subject of arguments over responsibility for contract variations that have had an impact on the entire supply chain. The Fin

Wolf bullish about cash flow

Wolf Minerals, the Perth operator of England’s first new major mine development in almost half a century, has shrugged off a near-30 per cent fall in metal prices as it eyes maiden cash flow next month. The West

Flood of Chinese exports sinks aluminium prices

The outlook for aluminium is looking severely pressured for the next few years as excess capacity in China shows no sign of easing, resulting in a more downbeat outlook for Australian-listed miners Rio Tinto, South32 and Alumina. The Aus

Local juniors under pressure after iron ore price slide

Cash break-even price analysis by UBS suggests BC Iron is the most at risk local producer but only by a small margin, with just $US4 a tonne separating the rest of the junior ranks. The Fin

TFS dips out against Taylor Collison

Indian sandalwood producer TFS Corporation has been dealt a legal blow after the Supreme Court of Western Australia dismissed a pre-trial discovery and ordered the company to pay the costs of defendant broker Taylor Collison. The Fin

 

 

The Australian Financial Review

Page 1: Bill Shorten has recorded his lowest approval rating as Opposition Leader, and the number of voters who believe he has the confidence of his party has slumped – but he still leads Prime Minister Tony Abbott as preferred prime minister, and Labor holds an election-winning lead in the latest Fairfax-Ipsos poll.

Page 3: One of the country’s biggest mortgage brokers, Mortgage Choice, says the clampdown on lending to landlords has dragged property investors’ share of its loan approvals to a 20-month low.

Page 4: Agriculture Minister Barnaby Joyce has defended the government’s plans to boost farm incomes and drought assistance after criticisms the agricultural competitiveness paper does not go far enough.

Page 6: Workplace reform must consider the interests of smaller businesses, unlike the current industrial relations rules, which were written by the ‘‘club’’ of big business, major industry groups and the union movement, Small Business Minister Bruce Billson said.

Page 7: The Financial Services Council has called for the GST base rate to be increased to 15 per cent and broadened to cover food, education and healthcare – but not financial services.

Page 15: Chevron’s over-budget $US54 billion ($71.8 billion) Gorgon LNG venture, Santos’ $US18.5 billion GLNG project, and Inpex Corporation’s $US34 billion Ichthys project in Darwin are among those understood to be the subject of arguments over responsibility for contract variations that have had an impact on the entire supply chain.

Cash break-even price analysis by UBS suggests BC Iron is the most at risk local producer but only by a small margin, with just $US4 a tonne separating the rest of the junior ranks.

Page 18: Indian sandalwood producer TFS Corporation has been dealt a legal blow after the Supreme Court of Western Australia dismissed a pre-trial discovery and ordered the company to pay the costs of defendant broker Taylor Collison.

Page 20: Gas producers such as Origin Energy and Santos have been accused of profiteering and hoarding capacity on pipelines, as industrial users seek more open access to scarce supplies at competitive prices.

 

 

The Australian

Page 2: Coal producers should be hit with higher taxes and global import tariffs to push investment into less greenhouse-gas-intensive forms of energy, OECD secretary-general Angel Gurria has said.

Page 5: Australian Curriculum, Assessment and Reporting Authority statistics show that federal, state and territory government funding for independent and Catholic schools grew by 23 per cent, on a per-student basis, between 2009 and 2013.

Page 17: Macquarie Telecom has warned the competition regulator that TPG Telecom’s $1.56 billion takeover of iiNet will cause a catastrophic collapse of the wholesale broadband market and force a fundamental rethink on the economics of the National Broadband Network.

Australia’s largest privately owned cattle producer has returned to the black after a year of cost-cutting and restructuring as it prepares to issue $300 million worth of shares to a strategic investor and eyes parts of the historic SK Kidman and Co cattle empire.

China moved aggressively at the weekend to shore up its plunging blue chip stocks, banning new equity raisings at the same time as Greece’s knife-edge referendum on relations with Europe foreshadows another week of potentially destabilising turmoil on world financial markets.

Page 19: The outlook for aluminium is looking severely pressured for the next few years as excess capacity in China shows no sign of easing, resulting in a more downbeat outlook for Australian-listed miners Rio Tinto, South32 and Alumina.

Page 21: Deep-pocketed institutions and private equity groups are targeting the purchase of more than $200 million worth of aged-care assets that have hit the market as values in the sector surge.

Page 23: Changes to the rule that prevents one television network from reaching 75 per cent of the population are back on the table, with senior politicians softening their opposition to amendments in what could lead to a government backflip on the issue.

 

 

The West Australian

Page 1: The Abbott Government’s own independent fiscal cop fears the Federal Budget has been built on rosy assumptions that put the nation at risk of never running a surplus in the next decade.

Page 7: Perth researchers are launching a ground-breaking study using GPS to track what happens to the brain during routine tackling in rugby and football.

Page 10: The boss of Seven West Media has accused regional TV broadcasters of holding their viewers and shareholders to ransom by slicing local news programs while trying to force the Federal Government into wide-ranging media policy changes.

Business: Wet commissioning has begun at Wolf Minerals’ £123 million ($255 million) Hemerdon tungsten-tin project, near Plymouth in Devon, ahead of a handover by builder GR Engineering in a month’s time, shortly before first concentrate is expected to be produced and sold.

 

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