10/11/2015 - 06:46

Morning Headlines

10/11/2015 - 06:46

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Test against England likely to open new sports stadium

Ashes Test cricket looms as the sport most likely to open the Perth Stadium at Burswood, with construction of the $1.4 billion project months ahead of schedule and on track to be finished well before the end of 2017. The West

Shock deal keeps grain on rail

Brookfield and CBH are poised to sign off on a surprise deal that will keep grain on the WA rail network throughout this season’s harvest. The West

Payment terms extended to 60 days

BHP Billiton is pushing out its payment terms on $14 billion of supply contracts to 60 days from 30 days after a review found its existing deal was ‘‘significantly shorter than the standard terms in the marketplace’’. The Fin

Chevron paid $248 in tax on $1.73b profit

Chevron Australia’s US parent company paid only $248 in income tax last year despite earning an estimated $1.73 billion profit on interest from the Gorgon LNG development in Western Australia, documents filed with a Senate inquiry show. The Fin

Asciano pledges co-operation on ACCC’s Brookfield review

Asciano has agreed to work with Brookfield Infrastructure to get approval from the Australian Competition and Consumer Commission for the Canadians’ revised $9 billion takeover bid. The Fin

PM targets super for ‘fair’ reform

A radical approach to superannuation has been moved to the top of Malcolm Turnbull’s tax agenda in a bid to create a fairer way to encourage retirement savings while generating $6 billion in new revenue to support wider reform. The Fin

 

 

The Australian Financial Review

Page 1: A Brazilian iron ore-pellet manufacturer owned by BHP Billiton and Vale that caused a deadly mudslide is likely to stay shut for more than three years and could cost the companies more than $US1 billion ($1.4 billion), according to Deutsche Bank.

Santos has been accused of trying to make itself takeover-proof again by effectively selling a blocking stake to a Chinese private equity firm seven years after the South Australian group ditched a 15 per cent shareholder cap.

Page 3: Chevron Australia’s US parent company paid only $248 in income tax last year despite earning an estimated $1.73 billion profit on interest from the Gorgon LNG development in Western Australia, documents filed with a Senate inquiry show.

Page 4: Swing voters remain hostile towards a GST increase, according to research that echoes rising fears among the Coalition backbench that talk of an increased or broadened consumption tax is eroding support for reform.

Page 8: Australia is headed for the most sustained period of high unemployment since the recession in the 1990s, according to the OECD.

Page 9:  The trade union royal commission’s top lawyer has delivered a fresh setback to disgraced former union leader, Kathy Jackson, questioning the difficulty of reconciling some of her evidence ‘‘with the facts’’, and rejecting her bid to stop the inquiry making findings based on an adverse Federal Court judgment.

Page 15: New chief executive Hugh Marks says the free-to-air broadcaster will be ‘‘doing much more’’ to innovate – as it faces the challenge of viewing habits – but that it will keep ‘‘engaging, relevant content’’ as its core focus.

Page 17: BHP Billiton is pushing out its payment terms on $14 billion of supply contracts to 60 days from 30 days after a review found its existing deal was ‘‘significantly shorter than the standard terms in the marketplace’’.

Asciano has agreed to work with Brookfield Infrastructure to get approval from the Australian Competition and Consumer Commission for the Canadians’ revised $9 billion takeover bid.

Page 20: BHP Billiton has responded aggressively to last year’s industrial dispute at Port Hedland by axing its unionised tugboat provider, Teekay, and replacing it with a Queensland company that traditionally has a non-unionised workforce.

Page 29: The Australian gold sector now accounts for almost half of the revenue generated by Australia’s top-50 mid-tier miners after an 11 per cent jump in revenue during fiscal 2015.

Page 30: NBN is set to launch a six-week inquiry with internet service providers aimed at working out how to slash their cost of buying broadband in a move that could reshape the $45 billion industry’s future profitability.

 

 

The Australian

Page 1: A radical approach to superannuation has been moved to the top of Malcolm Turnbull’s tax agenda in a bid to create a fairer way to encourage retirement savings while generating $6 billion in new revenue to support wider reform.

Page 4: One of the Labor Party’s most dominant powerbrokers in Western Australia for the past 30 years, controversial senator Joe Bullock, has quit the Right faction after a feud with colleagues he accuses of allowing the Left to seize control of the party.

Page 20: A vibrant gold sector has helped soften the impact of the broad commodities rout on the combined market valuation of Australia’s top 50 mid-tier miners, according to PwC.

Page 21: Large-scale agricultural investments in Australia will “almost invariably” go to foreign buyers despite outperforming other investment classes over the long term, according to the executive director of the Australian Farm Institute.

Page 22: Jetstar is expecting a big boost to operational efficiency as it moves into the new Terminal 4 in Melbourne today.

Page 29: The tech industry has been criticised as a boys’ club and while women by and large get a raw deal, there are small signs of improvement, with Australia a surprise leader when it comes to hiring women in the tech sector.

 

 

The West Australian

Page 1: Ashes Test cricket looms as the sport most likely to open the Perth Stadium at Burswood, with construction of the $1.4 billion project months ahead of schedule and on track to be finished well before the end of 2017.

Page 12: Western Australians have lost track of more than $1.6 billion in superannuation but people in the rest of the country are finding ways to reunite with their cash.

Business: Brookfield and CBH are poised to sign off on a surprise deal that will keep grain on the WA rail network throughout this season’s harvest.

AngloGold Ashanti shares climbed the most in two months after the world’s third-biggest bullion miner said third-quarter production costs and output beat its forecasts.

Rohan Williams’ market darling Dacian Gold has finally tapped investors for cash to help fund a definitive feasibility study for its Mt Morgans project near Laverton.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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