20/07/2015 - 06:45

Morning Headlines

20/07/2015 - 06:45

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Morning Headlines

Union claims threaten Gorgon

Chevron’s $73 billion Gorgon liquefied natural gas project being built off Western Australia is facing a fresh threat of industrial action after unions won official approval to ballot workers on a potential strike, just months before exports from the massive venture are finally due to begin. The Fin

Plea to find hidden deposits

Mining industry leaders want a national exploration research program to pull together the vast array of data in private hands amid fears Australia’s viable deposits are running out. The West

Vodafone chips at Telstra plans

Vodafone Hutchison Australia chief executive Inaki Berroeta has launched a broadside against his biggest rival Telstra, warning that it faces major hurdles expanding into Asia and labelling the payments it gets from the government as ‘‘a bit of a scandal’’. The Fin

Bus lane ‘to hit homes and traffic’

The dedicated bus lane being investigated as an alternative to the MAX light rail would involve significantly more property resumptions and traffic snarls, according to the Government’s own analysis. The West

Shorten backs union FTA assault

Bill Shorten will not denounce a union-led assault on the Australia-China free-trade pact despite the Foreign Affairs Department taking the extraordinary step of drafting a “myth-busting’’ fact sheet challenging the basis of the scare campaign. The Aus

Licence limits ‘hurt business’

The Australian Hotels Association has criticised the State liquor licensing authority’s decision to limit an extension to the trading permit of Scarborough’s biggest venue to only two years. The West

 

 

The Australian Financial Review

Page 1: The Abbott government plans to take a sweeping package of tax cuts to the next election, increasing pressure on this week’s historic meetings with state and territory leaders to deliver a breakthrough on the goods and services tax.

Chevron’s $73 billion Gorgon liquefied natural gas project being built off Western Australia is facing a fresh threat of industrial action after unions won official approval to ballot workers on a potential strike, just months before exports from the massive venture are finally due to begin.

Page 3: Perth’s notoriously high coffee prices have stagnated in line with its spluttering economy, while the cost of a cup of black brew is likely to steam ahead in the stronger eastern capital city markets.

Page 4: Australia’s biggest-ever house construction boom has peaked, and not even a slowdown in new housing starts will prevent the country from running into a net surplus in three years’ time.

Page 7: Luxury car importer Porsche Cars Australia has tripled profits and lifted revenues by 37 per cent to $428 million at a time when local car makers such as General Motors-Holden are reporting heavy losses which have totalled almost $1 billion in the past three years.

Page 11: Vodafone Hutchison Australia chief executive Inaki Berroeta has launched a broadside against his biggest rival Telstra, warning that it faces major hurdles expanding into Asia and labelling the payments it gets from the government as ‘‘a bit of a scandal’’.

Page 13: BHP Billiton and Rio Tinto should take advantage of the cheap cost of debt to help fund their progressive payout policies in the face of cash flow pressure, but not for more than one to two years, London-based analysts say.

Australian mining companies must act now to find the next generation of major discoveries deeper under the Earth’s crust or risk deterring an already shrinking share of global investment, an industry-backed research report has warned.

Page 16: A contractor to oil giants BHP Billiton and Chevron has agreed to pay more than $51 million to the Australian Tax Office to settle a ‘‘transfer pricing’’ claim.

 

 

The Australian

Page 2: Bill Shorten will not denounce a union-led assault on the Australia-China free-trade pact despite the Foreign Affairs Department taking the extraordinary step of drafting a “myth-busting’’ fact sheet challenging the basis of the scare campaign.

Page 6: The wine industry remains divided over the future taxation system for alcohol, with the peak winemakers’ body refusing to support a system based on volume.

Page 17: Plunging commodity prices have forced the states to slash their royalty forecasts by a further $7 billion, sparking calls for structural reform and threatening to inflame debate over the GST at this week’s leaders’ summit.

Page 18: One of Australia’s biggest potential rivals in the global LNG trade, Houston-based Cheniere Energy, has given the green light for up to seven more gas processing trains on the US Gulf Coast that could lift its annual export capacity to 60 million tonnes by 2025.

Macquarie Capital is being widely touted as the most likely investment bank to emerge as the executor of Origin Energy’s sell-down of its 53 per cent stake in the $NZ3.8 billion ($3.4bn) New Zealand power company Contact Energy.

Australia-based biotech giant CSL is closing in on its centenary, poised to become the second largest player in the $US4 billion influenza vaccine industry with an impressive pipeline of products.

Page 21: Just two years ago confidence in Western Australia’s property sector was riding high, while real estate executives in NSW were in the doldrums.

 

 

The West Australian

Page 3: First-time low-level offenders in WA will be able to avoid criminal charges under an Australian-first trial allowing them to sign an agreement promising to stay out of trouble.

Page 6: More than half a million households between Geraldton and Busselton are likely to pay less for gas under a shake-up of the system approved by WA’s economic watchdog.

WA is slipping down the nation’s economic premiership ladder faster than Carlton in the AFL as the end of the mining construction boom crimps the spending power of Western Australians.

Page 9: The dedicated bus lane being investigated as an alternative to the MAX light rail would involve significantly more property resumptions and traffic snarls, according to the Government’s own analysis.

Page 11: The Australian Hotels Association has criticised the State liquor licensing authority’s decision to limit an extension to the trading permit of Scarborough’s biggest venue to only two years.

Page 12: Perth’s richest postcode is baulking at State Government plans for it to build another 500 homes between now and 2050.

Business: Mining industry leaders want a national exploration research program to pull together the vast array of data in private hands amid fears Australia’s viable deposits are running out.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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