10/09/2015 - 06:43

Morning Headlines

10/09/2015 - 06:43

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Morning Headlines

Big parties spend $1m to win seat

The fight for Canning will cost the two major parties more than $1 million combined, making it one of the most expensive single seat contests in Australian political history. The West

Newcastle terminal stakes up for auction

CBH is trying to sell its stake in the Newcastle Agri Terminal in the wake of its decision not to proceed with plans to set up a sister grain co-operative in the Eastern States. The West

Woodside terms rejected by Oil Search

Oil Search will reject a demand by suitor Woodside Petroleum to hold exclusive talks as part of its $11.6 billion takeover offer, paving the way for oil giant ExxonMobil Corporation to emerge as a rival bidder. The Fin

Brookfield sounds out big guns for office landmarks

Brookfield is in talks with a swag of international and local investors as it scouts for capital partners for two of its highest-profile office towers, Brookfield Place in Perth and Southern Cross Towers in Melbourne. The Aus

Virgin’s Branson says aviation turf war with Qantas was ‘foolish’

British billionaire Richard Branson has expressed regret at the long-running domestic aviation turf war, which was initiated by Virgin Australia against Qantas Airways and caused both airlines heavy losses. The Fin

Pay-TV’s spend on local content jumps to $800m

The subscription-TV industry spent a record $796 million on Australian programming last financial year as the focus on local content pays dividends for major players including Foxtel. The Aus

AICD blow for Smith over 7-Eleven

Prominent company director Michael Smith has stepped down from one of the country’s most influential peak professional bodies amid the widening scandal gripping the 7-Eleven convenience store chain. The West

 

 

The Australian Financial Review

Page 1: The World Bank has joined International Monetary Fund managing director Christine Lagarde and warned that an immediate interest rate hike by the US Federal Reserve could unleash market turmoil around the world.

China bought almost every shipment of Australian sorghum and barley for the first time ever this year, highlighting the importance of agriculture to a trade deal between the two countries that has been agreed but not ratified.

Page 3: Origin Energy managing director Grant King said the company’s $24 billion LNG plant at Gladstone in central Queensland was still profitable, despite plummeting gas prices, a $550 million cost blowout and an 80 per cent cut in revenue. ‘

British billionaire Richard Branson has expressed regret at the long-running domestic aviation turf war, which was initiated by Virgin Australia against Qantas Airways and caused both airlines heavy losses.

Page 8: The Abbott government’s decision to accept an extra 12,000 refugees from the Syrian civil war will cost the budget at least $700 million over four years but has been roundly welcomed by the opposition, the states and some refugee groups for its humanitarian nature.

Page 11: Tech giant Apple’s biggest money maker, the iPhone, may soon lose its top spot to self-driving cars, according to co-founder Steve Wozniak.

Page 17: Oil Search will reject a demand by suitor Woodside Petroleum to hold exclusive talks as part of its $11.6 billion takeover offer, paving the way for oil giant ExxonMobil Corporation to emerge as a rival bidder.

Page 19: The competition watchdog will delay its ruling on Foxtel’s proposed acquisition of up to 15 per cent of Network Ten Holdings until next week.

The restructuring of CIMIC, the construction group formerly known as Leighton Holdings, is paying off for its Spanish owners 18 months after it was acquired, as the company wins a series of big transportation contracts.

 

 

The Australian

Page 1: The man behind one of Australia’s most successful hi-tech firms says the nation risks becoming a technology backwater within 20 years unless the government puts in place “smart policies’’ to allow local companies to import “masses’’ of the best workers from Silicon Valley.

Page 2: As concerns about job security sap consumer confidence, the government is bracing for a jump in the unemployment rate — potentially to a 13-year high of 6.5 per cent — which it will attribute to its tougher job-search requirements for dole recipients.

Page 3: Australia’s insatiable appetite for on-demand video services such as Netflix is driving massive growth on the nation’s broadband networks that could slow internet speeds because of increased congestion.

Page 4: Tony Abbott is under intensifying pressure from low-lying Pacific states to commit to a target of limiting global temperature increases to 1.5C ahead of the UN Paris climate conference in December.

Page 19: Foreigners with investments in Australia have been burnt by the steep fall in the dollar and will be discouraged from investing again, according to Meriton Group founder Harry Triguboff.

Global private equity firms TPG and Carlyle Group took advantage of soaring stockmarket valuations last night to sell close to half their $1.7 billion stake in hospital chain Healthscope.

Page 20: The subscription-TV industry spent a record $796 million on Australian programming last financial year as the focus on local content pays dividends for major players including Foxtel.

Page 21: Qantas will use its new Boeing 787-9s to open up previously unviable routes to Asia and the US but says it will have to wait for the next generation of aircraft to meet a longstanding ambition to fly non-stop to New York.

Page 23: Local and overseas institutions are among 700 shareholders who have joined a class action against QBE Insurance over a December 2013 profit warning that wiped $4 billion from the value of the listed international underwriter.

Page 26: Brookfield is in talks with a swag of international and local investors as it scouts for capital partners for two of its highest-profile office towers, Brookfield Place in Perth and Southern Cross Towers in Melbourne.

 

 

The West Australian

Page 11: The fight for Canning will cost the two major parties more than $1 million combined, making it one of the most expensive single seat contests in Australian political history.

Page 18: Authorities hope by this weekend to refloat a prawn trawler that sank off the Pilbara coast in July with three crew members aboard.

Business: Kambalda’s struggling nickel district has taken another hit, with Independence Group the latest nickel producer to shed staff and cut production because of low nickel prices.

Sports retailer Quiksilver has sheeted home some of the blame for a “difficult but necessary” decision to put its US business into bankruptcy protection to an aggressive sales strategy pursued by former management.

The capital drought afflicting junior miners looks set to be extended, with global fund manager Caledonia winding up its resources fund.

Prominent company director Michael Smith has stepped down from one of the country’s most influential peak professional bodies amid the widening scandal gripping the 7-Eleven convenience store chain.

CBH is trying to sell its stake in the Newcastle Agri Terminal in the wake of its decision not to proceed with plans to set up a sister grain co-operative in the Eastern States.

                                                                                                                                                        

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