08/10/2015 - 07:19

Morning Headlines

08/10/2015 - 07:19

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Jobs go at Wheatstone LNG

As many as 200 white-collar jobs have been axed at the Chevron-run $US29 billion ($40.4 billion) Wheatstone LNG development near Onslow this week as part of corporate belt-tightening that has been exacerbated by collapsing oil and gas prices. The West

Federal ALP to back Metronet rail plan

Perth’s public transport is looming as one of the State’s defining issues in next year’s federal election next year, after Bill Shorten made the Metronet plan a Labor priority under a transformative approach to infrastructure. The West Online

Uber, Airbnb send profits offshore

Uber and Airbnb have told a Senate corporate tax avoidance inquiry that while they comply with Australian tax laws, their Australian operations merely provide support services to parent companies based in the Netherlands and Ireland respectively. The Fin

800 Aurizon jobs go amidst cost-cutting

Rail group Aurizon will deepen its cost-cutting program, slashing up to $380 million over the next three years and getting rid of more than 800 jobs as the resources slump curbs demand for its coal haulage services. The Fin

MinRes gets nod for Super Quads

Transport Minister Dean Nalder has handed Chris Ellison’s Mineral Resources a win at its Pilbara iron ore operations, approving a trial of so-called Super Quad road trains on public highways. The West

Setting sale: Hutchison mulls sell-off

Hutchison Ports Australia, the stevedore hailed as the new market entrant that would break up the duopoly between DP World and Asciano, is believed to be weighing its options regarding a potential sale as the company wrestles with losses and controversy surrounding the sacking of its workers. The Aus

Hospital delay to hit parents

Parents staying at the new Ronald McDonald House in Nedlands will have to be shuttled to their seriously ill children at Princess Margaret Hospital, because of delays to the new children’s hospital. The West Online

 

 

The Australian Financial Review

Page 1: The Turnbull government is working on a major innovation agenda with crowdfunding for start-ups and tax breaks for ‘‘angel investors’’ in fledgling tech companies as top priorities.

Page 3: BlueScope Steel employees would accept a three-year pay and strike freeze, hundreds of job losses and overtime cuts under concessions agreed by the nation’s largest blue collar union to try to prevent the closure of the iconic Port Kembla steelworks.

Page 4: The federal opposition has signalled it will make infrastructure a big election issue in 2016, transforming Infrastructure Australia into a project facilitator modelled on the Clean Energy Finance Corporation, with a $10 billion budget.

Page 10: Uber and Airbnb have told a Senate corporate tax avoidance inquiry that while they comply with Australian tax laws, their Australian operations merely provide support services to parent companies based in the Netherlands and Ireland respectively.

Page 13: The Trans-Pacific Partnership trade deal will boost the number of containers moved through ports but further improvement is needed in transport networks to handle expected volume increases, ports operators said.

Page 14: The Ritz Carlton says demand for luxury accommodation from wealthy Chinese tourists has given it confidence its re-entry into Australia will be a success despite the high costs and planning hurdles of constructing new high-end developments.

Page 25: IAG Group has turned to its technology boss Peter Harmer to lead it into a new era of change after the departure of long-time chief executive Mike Wilkins.

Page 27: Rail group Aurizon will deepen its cost-cutting program, slashing up to $380 million over the next three years and getting rid of more than 800 jobs as the resources slump curbs demand for its coal haulage services.

 

 

The Australian

Page 2: Malcolm Turnbull has dismantled Tony Abbott’s much-criticised “command and control’’ structure as he empowers ministers to make decisions and sets up a new-style Prime Minister’s Office with authority shared among senior staff rather than one all-powerful chief.

Page 7: The tax office is to hunt down Uber drivers by combing through three years of personal bank accounts looking for undeclared income from the ride-sharing company.

Page 19: The threat of a housing bubble stoked by an oversupply of apartments has receded as the big banks heavily rein in lending to developers, according to Mark Steinert, chief executive of Stockland, the nation’s biggest residential developer.

Page 20: Hutchison Ports Australia, the stevedore hailed as the new market entrant that would break up the duopoly between DP World and Asciano, is believed to be weighing its options regarding a potential sale as the company wrestles with losses and controversy surrounding the sacking of its workers.

Page 21: Origin Energy managing director Grant King has forfeited $3.17 million in bonus payments in the face of the energy company’s recent $2.5 billion equity raising, as the board pulled a motion to approve equity incentive payments to executive directors at this month’s annual general meeting.

Page 22: Telstra’s retail boss, Gordon Ballantyne, the man who helped Telstra lure back five million mobile customers and who was once seen as chief executive material, has quit after five years with the telco giant.

Online travel giant Expedia has sets its sights on capturing more of the lucrative Chinese travel market, and Australia looks set to play a key role in its strategy.

Page 23: The Trans-Pacific Partnership has been hailed as a boost for services firms by one of the top business advisers for Australia’s G20 presidency.

Page 27: Woolworths is undertaking a series of property disposals as the supermarket giant capitalises on the hot market for long-leased retail and industrial assets across Australia.

Page 28: Private equity giant TPG has closed its first high-risk real estate fund, raising more than $US2 billion ($2.8bn) in commitments at a time when big investors’ appetite for real estate risk is increasing.

 

 

The West Australian

Perth’s public transport is looming as one of the State’s defining issues in next year’s federal election next year, after Bill Shorten made the Metronet plan a Labor priority under a transformative approach to infrastructure.

Australia's richest families are making even more money thanks to the booming property market.

Pedestrian countdown timers will become a permanent feature of city streets, with Main Roads confirming it was also looking to introduce them to more busy intersections.

Parents staying at the new Ronald McDonald House in Nedlands will have to be shuttled to their seriously ill children at Princess Margaret Hospital, because of delays to the new children’s hospital.

This year’s Little Telethon Stars, Jayton Carter and Alyssa Bolger, have been immortalised in spectacular fashion, painted on the side of a brand new Lexus RC350F.

Business: As many as 200 white-collar jobs have been axed at the Chevron-run $US29 billion ($40.4 billion) Wheatstone LNG development near Onslow this week as part of corporate belt-tightening that has been exacerbated by collapsing oil and gas prices.

Brewing giant Anheuser-Busch InBev has made a fresh offer to buy rival SABMiller for about £68.2 billion ($145 billion), seeking to combine the world’s two largest beer producers after two previous proposals made privately were spurned.

Transport Minister Dean Nalder has handed Chris Ellison’s Mineral Resources a win at its Pilbara iron ore operations, approving a trial of so-called Super Quad road trains on public highways.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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