15/10/2015 - 07:08

Morning Headlines

15/10/2015 - 07:08

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Gina Rinehart beats Rio Tinto on royalties

Australia’s richest woman, Gina Rinehart, and the family of her late father’s business partner, Peter Wright, won a High Court battle against mining giant Rio Tinto over more than $130 million in royalties from two mining areas in Western Australia’s Pilbara. The Fin

Moody’s warns WA on spending

Credit agency Moody’s Investors Service says Western Australia cannot rely on a rebound in goods and services tax revenue to repair its budget and needs ‘‘strong political resolve’’ to reverse several years of rampant spending. The Fin

Morrison hits Westpac over hike

Treasurer Scott Morrison has accused Westpac Banking Corp of gouging customers by overcharging them for the cost of creating a safer banking system through a 0.20 percentage point increase in mortgage rates. The Fin

Roy Hill to miss export target

Gina Rinehart’s majority-owned Roy Hill project has all but confirmed it will miss a deadline this month for the shipment of its first ore from the massive iron ore project. The Fin

Palmer says no need for refinery bailout

Resources magnate turned federal MP Clive Palmer says he has no plans to close his nickel refinery in Townsville despite a plunge in international prices and the financial strain of a long-running legal dispute with a Chinese company over an iron ore project in Western Australia. The Fin

Beer prices to get frothy under $144bn tie-up

A $US104.2 billion ($144bn) combination of the world’s two biggest brewers, Anheuser-Busch InBev and SABMiller, would redraw the map of the global beer industry and is likely to trigger higher beer prices for consumers. The Aus

 

 

The Australian Financial Review

Page 1: Treasurer Scott Morrison has accused Westpac Banking Corp of gouging customers by overcharging them for the cost of creating a safer banking system through a 0.20 percentage point increase in mortgage rates.

Page 3: Singtel-Optus has signed a new deal with the hugely popular streaming video on demand service Netflix in an effort to increase broadband sales during the crucial Christmas shopping season.

Page 6: On Tuesday, iron ore giant Rio Tinto announced it would sublease one of its Pilbara stations, the Karratha station, to the Ngarlama Aboriginal Corporation.

Page 10: Australia’s richest woman, Gina Rinehart, and the family of her late father’s business partner, Peter Wright, won a High Court battle against mining giant Rio Tinto over more than $130 million in royalties from two mining areas in Western Australia’s Pilbara.

Page 12: A row over how alcohol is taxed has deepened after a report by the Parliamentary Budget Office revealed the vastly different levies applied to wine, spirits and beer.

Page 17: Resources magnate turned federal MP Clive Palmer says he has no plans to close his nickel refinery in Townsville despite a plunge in international prices and the financial strain of a long-running legal dispute with a Chinese company over an iron ore project in Western Australia.

Page 19: Credit agency Moody’s Investors Service says Western Australia cannot rely on a rebound in goods and services tax revenue to repair its budget and needs ‘‘strong political resolve’’ to reverse several years of rampant spending.

Page 27: Treasury Wine Estates, which emerged from the break-up of Foster’s Group four years ago, is likely to be split in two under a plan to dispose of its cheap mass-market wine brands and try once again to conquer America.

 

 

The Australian

Page 1: The Turnbull government will today use evidence of rising “lawlessness” and union militancy on building sites revealed in the industry watchdog’s latest annual report to launch a fresh attack over the CFMEU’s influence on Bill Shorten and the Australian Labor Party.

Page 2: The steel industry is facing an “epidemic” of dumped exports from China, iron ore miner and steelmaker Arrium has declared as the beleaguered sector calls for an anti-dumping crackdown.

Page 4: Australia and the US yesterday signed a defence co-operation deal that will lead to more naval training and exercises between the two countries.

Page 21: Former Toll Holdings chief executive Paul Little has expressed his hope that Toll’s new Japanese owner will keep the branding of the company that he helped transform into a multinational logistics empire.

Page 22: Telstra has moved to underwrite the future of its customer installation and maintenance services for the next decade by striking a multi-billion-dollar 10-year contract with the private equity-backed Infrastructure Services Group Management .

Page 26: The emissions scandal engulfing Volkswagen has cast a spotlight on countries such as Australia, whose vehicle pollution standards are far less stringent than those in either the US or Europe.

A $US104.2 billion ($144bn) combination of the world’s two biggest brewers, Anheuser-Busch InBev and SABMiller, would redraw the map of the global beer industry and is likely to trigger higher beer prices for consumers.

 

 

The West Australian

Page 3: Perth researchers believe giving pregnant women supplements of “good bacteria” could help prevent a silent but potentially deadly infection in babies.

Page 11: Colin Barnett has intervened in the Federal Government’s plans to bulldoze homes for Special Air Service Regiment families in Swanbourne, pushing new Defence Minister Marise Payne to renovate hundreds of existing houses instead.

Business: Gina Rinehart’s majority-owned Roy Hill project has all but confirmed it will miss a deadline this month for the shipment of its first ore from the massive iron ore project.

The boss of the State’s insurance arm has warned that rival Bell Group creditors could spend years and millions of dollars in court rows over $1.7 billion in litigation loot.

Mining services provider Ausdrill has been given the nod for a $US300 million ($414 million) contract at an Ethiopian gold project.

Macarthur Minerals has moved to sell its Yilgarn iron ore projects for $6 million in another blow for the parked Esperance Port expansion.

Baby Bunting's first day on the Australian stock market was a big success, delivering a windfall for the infant retailer's founders and chief executive.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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