09/10/2015 - 07:01

Morning Headlines

09/10/2015 - 07:01

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Citic in new billion-dollar mine dispute

Chinese miner Citic has been forced to inject $US3.1 billion of capital into its disastrous Sino Iron development in Western Australia, after writing $US2.5 billion off the value of the project. The Fin

Bid to block Burswood land grab

The WA Government has given its clearest indication yet it may compromise on legislation to expand the City of Perth’s boundaries by alleviating concerns the Burswood peninsula could be absorbed into the capital city. The West

Perth residents in way of new link road face losing their homes

Residents at risk of having their homes demolished to make way for the $1.6 billion Perth Freight Link – a road project to link the city’s industrial suburbs to Fremantle port – have been warned the state government will finalise the route by the end of the month. The Fin

Transformation puts retailer on target

Target boss Stuart Machin says the once struggling chain is well advanced in its transformation from a loss-making business to a strong performer in Wesfarmers’ stable of companies, with new store formats and an improved online platform winning over shoppers. The Aus

Shorten’s FTA tweaks ‘to protect Aussie job access’

Labor will release its plan to end the political stalemate over the China-Australia free-trade agreement next week ahead of debate on the deal starting in federal parliament. The Aus

Big ideas for smallest of lots

Planners are pushing for 65sqm “micro” housing for WA, saying there is demand for smaller, more affordable properties. The West

 

 

The Australian Financial Review

Page 1: BlueScope Steel employees have endorsed a ground-breaking workplace agreement after their union leaders accepted hundreds of job losses, a wage freeze and a restructuring of work practices were required to prevent the closure of the nation’s biggest steelworks at Port Kembla.

Page 3: One of the Reserve Bank of Australia’s leading forecasters has challenged critics of ultra-low interest rates saying their concerns about potential bubbles in property, shares or bonds are ‘‘overdone’’.

Page 5: Extending the goods and services tax to education would be the fairest way to raise additional revenue, according to new modelling that suggests the burden would fall largely on wealthier households.

Page 7: Chinese miner Citic has been forced to inject $US3.1 billion of capital into its disastrous Sino Iron development in Western Australia, after writing $US2.5 billion off the value of the project.

Residents at risk of having their homes demolished to make way for the $1.6 billion Perth Freight Link – a road project to link the city’s industrial suburbs to Fremantle port – have been warned the state government will finalise the route by the end of the month.

Page 8: 7-Eleven has offered to radically change its business model in an attempt to improve the financial position of its franchisees following the worker exploitation scandal that has rocked the convenience store giant.

Page 11: New quarterly sales figures have shown Australians’ love affair with Apple’s iPhone continues to blossom, with sales jumping 31 per cent in the quarter, at the expense of chief rival Samsung and other Android suppliers.

Page 18: Mining services group NRW Holdings will continue to pursue Samsung C&T in the Supreme Court of Western Australia if the Korean construction giant fails to comply with legal orders to pay it more than $25 million owing from a key contract at Gina Rinehart’s Pilbara Roy Hill mine.

Page 23: Coke addicts rejoice – the cola wars should keep the price of your beloved black beverage down this summer, after Coca-Cola Amatil reverted to deep discounting to drive sales in September.

 

 

The Australian

Page 1: Ultra-low interest rates have fuelled a borrowing binge in emerging markets that risks prompting another bout of financial turmoil once they begin to rise, the IMF has warned.

Page 4: Labor will release its plan to end the political stalemate over the China-Australia free-trade agreement next week ahead of debate on the deal starting in federal parliament.

Page 7: A catastrophic failure of BP’s proposed $1 billion deep-sea oil drilling program in the Great Australian Bight could affect important whale nurseries and shut fishing grounds as far away as the Tasman Sea, according to independent modelling.

The $2.4 billion video game development industry wants tax concessions as part of a support package to prevent lucrative business being lost to countries such as New Zealand and Canada.

Page 19: Macquarie Group has wrapped up a bumper first half with a fresh profit upgrade and one of its biggest ever acquisitions, snaring ANZ Bank’s $8.2 billion Esanda motor dealer finance unit as part of a push towards more stable income streams.

Page 20: BHP Billiton has served up a surprise by talking up the prospects of its Nickel West division in the face of depressed prices for the stainless steel ingredient.

Page 21: Target boss Stuart Machin says the once struggling chain is well advanced in its transformation from a loss-making business to a strong performer in Wesfarmers’ stable of companies, with new store formats and an improved online platform winning over shoppers.

Gloves and condom maker Ansell has suffered a “first strike” vote by shareholders against its remuneration report, as institutional and retail shareholders vent their anger over a patchwork of earnings and pay grievances ahead of the annual meetings season.

 

 

The West Australian

Page 3: Malcolm Turnbull has pledged his determination to bring the perpetrators of the shooting down of Malaysia Airlines flight MH17 to justice as a former investigator gives more evidence of Russian involvement.

Page 5: Planners are pushing for 65sqm “micro” housing for WA, saying there is demand for smaller, more affordable properties.

Page 17: Virtual holidays to Europe and houses that talk to you are two breakthroughs that will make life easier for Australia’s ageing baby boomers, according to technology giant Samsung.

Page 18: The Turnbull Government is using the death of a ministerial portfolio to hide documents that may undermine a near-$1 billion Federal commitment to the controversial Perth Freight Link.

Page 20: More than 1000 Australians are lining up to sue Volkswagen over its global emissions-rigging scandal.

Page 26: The WA Government has given its clearest indication yet it may compromise on legislation to expand the City of Perth’s boundaries by alleviating concerns the Burswood peninsula could be absorbed into the capital city.

Page 28: The Rottnest Island Authority has come within a whisker of being fined up to $100,000 over the way it has managed its electricity supply.

Business: Norway predicts it will for the first time need to withdraw cash from its $US820 billion ($1.1 trillion) sovereign wealth fund as western Europe’s biggest oil exporter uses a record chunk of its petroleum revenue to cover budget holes and stimulate the economy.

Stanley College’s rapid five-fold expansion over the past seven years has helped it earn a finalist’s place in this year’s WA Industry and Export Awards.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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