07/08/2015 - 06:47

Morning Headlines

07/08/2015 - 06:47

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Morning Headlines

Urban sprawl strangles Perth

WA’s environment watchdog has warned of the “incalculable cost” of unchecked urban sprawl in a landmark report on Perth’s future as its population almost doubles to 3.5 million by 2050. The West

Bus option saves $1b

Using buses instead of the MAX light rail could save taxpayers more than $1 billion or free up money for other key metropolitan public transport projects, says Transport Minister Dean Nalder. The West

Abbott faces new whispering campaign

The Bronwyn Bishop expenses scandal has left Tony Abbott exposed to a fresh whispering campaign about his leadership, just six months after he saw off a spill motion. The Fin

ANZ to raise $3b to avoid asset sale

ANZ Bank has launched a $3 billion capital raising to avoid the risk of being rushed into a ‘‘fire sale’’ of assets as it moves to meet looming regulatory requirements, chief executive Mike Smith says. The Fin

Premier warns of tough times

Colin Barnett is warning Western Australians the economy is going to get even tougher after new figures revealed a record number of unemployed people across the State. The West

Iron ore rises as Beijing wants to clear the air

Steel makers in China may be ramping up output before the government orders production cuts at some mills to ensure clean air in Beijing for a parade, according to UBS Group, which said the increase may be boosting iron ore. The Fin

 

 

The Australian Financial Review

Page 1: Rio Tinto will reduce capital investment by at least $US2.5 billion over two years and aim to cut costs by $US1 billion this year under a plan to maintain dividends and a share buyback after the iron ore price collapse.

The labour movement’s portrayal of a review of industrial relations commissioned by the Abbott government as a return to the Coalition’s unpopular Work Choices policy is a mistake and is unlikely to resonate with large numbers of young workers, former senior ACTU official Tim Lyons says.

Page 3: Plans to try one last time to deregulate the university sector are headed for the rocks after key Senator Dio Wang said he would not be voting for any change before the next election, despite the government being prepared to consider changes he suggested.

The Australian Mathematical Sciences Institute has called on universities to reverse an historic low in the number of institutions requiring maths as a prerequisite to studying science, commerce or engineering.

Page 5: The Bronwyn Bishop expenses scandal has left Tony Abbott exposed to a fresh whispering campaign about his leadership, just six months after he saw off a spill motion.

Page 7: An unexpectedly strong surge in employment last month was not enough to stop the jobless rate climbing uncomfortably close to the 6.5 per cent level expected by Treasury and the Reserve Bank of Australia – reintroducing fears the worst hasn’t yet passed.

Page 9: Boeing’s Australian operations set the ‘‘gold standard’’ for manufacturing in its global portfolio because of ongoing innovations by the local team that have resulted in more efficient products, Boeing International president Marc Allen has said.

Page 10: The Abbott government’s decision to pause superannuation contributions at 9.5 per cent has wiped the equivalent of $20,000 from the retirement savings of every Australian, the Financial Services Council says.

Page 13: ANZ Bank has launched a $3 billion capital raising to avoid the risk of being rushed into a ‘‘fire sale’’ of assets as it moves to meet looming regulatory requirements, chief executive Mike Smith says.

Cashed-up Brookfield Infrastructure Partners has revealed it is ‘‘excited’’ by the opportunity to build a big footprint in Australia as it considers a $9 billion takeover bid for ports and rail group Asciano.

Page 14: Downer EDI chief executive Grant Fenn says companies selling services to the resources industry are ‘‘in pain’’, after the contractor delivered a weak profit forecast for 2016.

Page 23: Steel makers in China may be ramping up output before the government orders production cuts at some mills to ensure clean air in Beijing for a parade, according to UBS Group, which said the increase may be boosting iron ore.

 

 

The Australian

Page 1: Tony Abbott has declared that the overturning of the proposed Queensland Carmichael mega coalmine means courts can be used to “sabotage” worthy projects, in his strongest defence yet of coal production in Australia.

The chief executive of the world’s biggest diversified mining company has urged the finalisation of the free-trade pact with China, saying stronger diplomatic ties are vital as Beijing imposes new restrictions on imports of low-quality coal.

Page 2: A legal loophole that overturned approval for the biggest proposed coal mine in Australia could be closed after Labor indicated yesterday it would support the resurrection of an aborted 2013 amendment to the Environmental Protection Act.

Page 3: The Abbott government is vowing to maintain its resolve after turning back 20 asylum-seeker boats in the past 20 months, warning if the people-smuggling ventures had succeeded “thousands of people would have followed’’.

Page 4: Housing is expensive, but don’t expect the rapid growth in prices recorded since 1990 to continue for long, a senior Reserve Bank official has warned.

Page 19: Trading giant Mitsui says recent trade deals with Korea, Japan and China mean it will look to enter the Australian beef industry and increase its interest in grains, as it continues to shift its local growth priority away from resources.

Page 26: Mirvac is poised to clinch the management rights to Morgan Stanley’s $8.9 billion real estate empire Investa Property Group, after the listed trust submitted a higher offer than rival bidder La Salle Investment Management.

 

 

The West Australian

Page 1: WA’s environment watchdog has warned of the “incalculable cost” of unchecked urban sprawl in a landmark report on Perth’s future as its population almost doubles to 3.5 million by 2050.

Page 3: Tony Abbott has thrown a multibillion-dollar contract to build patrol boats into confusion, suggesting the vessels might now be built in Adelaide and Victoria — potentially leaving WA high and dry.

Page 4: Tony Abbott has tentatively backed calls for a cut in some penalty rates, arguing to maintain them was akin to restoring “the church Sunday by closing the shops on Sunday”.

Page 9: Fresh claims of red tape in Perth’s boutique liquor industry have arisen after an inner-city distillery was banned from providing mixers with its variously priced moonshine samples unless it served the drinks free.

Page 10: Colin Barnett is warning Western Australians the economy is going to get even tougher after new figures revealed a record number of unemployed people across the State.

Page 14: Colin Barnett has vowed greater controls and scrutiny of WA councils’ finances, as signs emerge that local authorities are bracing for another battle with the State Government.

Page 21: Former premier Richard Court fears Australia will become a “lopsided Federation” unless the States are guaranteed a better share of future gas and petroleum revenue.

Page 24: Using buses instead of the MAX light rail could save taxpayers more than $1 billion or free up money for other key metropolitan public transport projects, says Transport Minister Dean Nalder.

Business: The first shipment of Roy Hill iron ore will likely leave port a month later than anticipated. Roy Hill Holdings chief executive Barry Fitzgerald yesterday said the milestone was more likely to be met in October instead of the project’s target of the end of September.

Australia’s premier start-up tech organisation has thrown down the gauntlet to the State Government, saying WA is in danger of being left behind unless drastic steps are taken to support the fledgling sector.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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