02/12/2015 - 07:00

Morning Headlines

02/12/2015 - 07:00

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Ports sale advisers bill $22m

The State Government will spend $22.7 million on corporate advisers to help kick Fremantle Port and Port Hedland’s Utah Point export terminal into shape for sale, figures released by Treasurer Mike Nahan reveal. The West

Potato board gives up fight

WA’s potato watchdog is dead on its feet in the war with Tony Galati and a handful of other big growers. The West

Rinehart: ‘The light of history shall shine on your hard hats’

Australia’s richest person, Gina Rinehart, borrowed a line from Winston Churchill as she heaped praise on the workers at Roy Hill, who have begun loading the first ore from the $10 billion project on to the MV Anangel Explorer. The Fin

Iron ore hit undermines budget

The forecast iron ore price in this month’s economic update will be significantly lower than the $US48 annual estimate in the May budget, punching a hole in expected revenues and delaying any return to a budget surplus. The Fin

Fiona Stanley on black status with no available beds

Fiona Stanley Hospital was in gridlock yesterday morning, with no available beds and staff warned to discharge patients where possible and put booked admissions on hold. The West

Rio dividend a strain but safe, says Aberdeen

One of the world biggest resources investors says Rio Tinto will not follow its rival BHP Billiton by cutting dividends next year and has chided the companies for their ‘‘constraining’’ progressive dividend policies. The Fin

Hundreds of jobs at risk as Palmer’s nickel empire seeks bailout

Clive Palmer’s Queensland Nickel refinery is days away from collapse and more than 600 jobs are hanging in the balance unless the federal MP can secure $48 million from his estranged Chinese business partners. The Aus

Lynas survives rare-earths price bust

Australian rare-earths miner Lynas has emerged from the industry’s boom and bust as the lone survivor, and as chief executive Amanda Lacaze begins to market the firm to investors. The Aus

 

 

The Australian Financial Review

Page 1: The forecast iron ore price in this month’s economic update will be significantly lower than the $US48 annual estimate in the May budget, punching a hole in expected revenues and delaying any return to a budget surplus.

Economist Warwick McKibbin has questioned the climate change policies of the major parties, saying the Coalition’s Direct Action plan will not meet its intended target without significant change and Labor’s ambition to cut emissions by 45 per cent would require a domestic carbon price of $200 a tonne unless other mechanisms were used.

Page 3: Coles blinked in a stand-off with Campbell Arnott’s by accepting price hikes on dozens of products manufactured by the supplier.

Page 6: Asciano’s port operator, Patrick stevedores, faces national strike action as the Maritime Union of Australia uses enterprise bargaining negotiations to push for improved rostering arrangements for wharf workers.

Page 9: Global health expert Mark Britnell says Australia’s world class healthcare system could be at risk of failing to care for older and sicker patients because of a ‘‘triple whammy’’ of structural problems.

Page 15: One of the world biggest resources investors says Rio Tinto will not follow its rival BHP Billiton by cutting dividends next year and has chided the companies for their ‘‘constraining’’ progressive dividend policies.

Page 17: Australia’s richest person, Gina Rinehart, borrowed a line from Winston Churchill as she heaped praise on the workers at Roy Hill, who have begun loading the first ore from the $10 billion project on to the MV Anangel Explorer.

Page 19: Bankers have raised the prospect of big hikes in funding costs for banks, particularly smaller ones, as the industry digs into the detail of APRA’s new rules for securitisation.

Page 20: Veteran retailer Fred Harrison says investors calling the death of the independent grocery sector and the demise of wholesaler Metcash are foolhardy.

Page 29: One of Australia’s largest wagering operators, Sportsbet, has urged the federal government to allow local bookmakers to promote a controversial form of online gambling in order to dissuade punters from betting with illegal offshore players.

Perth developer and BRW rich lister Nigel Satterley has snapped up a 140-hectare greenfield site in Swan Valley for $90 million.

 

 

The Australian

Page 1: Clive Palmer’s Queensland Nickel refinery is days away from collapse and more than 600 jobs are hanging in the balance unless the federal MP can secure $48 million from his estranged Chinese business partners.

Page 4: A key plank of next week’s innovation statement will include changing the way the government spends its $39 billion procurement budget, devoting a slice of its spending to directly support small businesses at the forefront of innovation.

Page 7: World Vision Australia will cut one in seven jobs during the next four weeks and says more losses are possible next year during a planned overhaul of corporate and support services.

A new wave of media mergers will be allowed next year as the Turnbull government moves to scrap two laws that prevent takeovers, challenging Labor to accept the end of restrictions that date to Paul Keating’s time in power.

Page 8: Medicinal marijuana will be subject to a national regulation scheme, without the need for matching state legislation, under a revamp of federal government plans announced only six weeks ago.

Page 19: Retail billionaire and Harvey Norman chairman Gerry Harvey says any attempt by ailing consumer electronics chain Dick Smith to kick off a 70 per cent-off fire sale to shift unwanted stock would be “suicidal”, arguing that shoppers have no interest in picking up “crook stock”, even at bargain prices.

Page 20: Australian rare-earths miner Lynas has emerged from the industry’s boom and bust as the lone survivor, and as chief executive Amanda Lacaze begins to market the firm to investors.

Sandalwood producer TFS Corporation says quarterly net profit has more than doubled after a revaluation of trees and a plantation sale.

 

 

The West Australian

Page 1: Fiona Stanley Hospital was in gridlock yesterday morning, with no available beds and staff warned to discharge patients where possible and put booked admissions on hold.

Page 5: WA’s potato watchdog is dead on its feet in the war with Tony Galati and a handful of other big growers.

Page 6: Energy Minister Mike Nahan has pledged to outline major changes to electricity pricing in next year’s State Budget as he vowed any shake-up would be phased in.

Page 10: A Liberal senator has questioned whether money raised certifying halal goods is being funnelled to extremist Islamic organisations.

Page 12: Cash-strapped public hospitals could prevent job losses by boosting their revenue from private patients, according to the State Government.

Page 14: Travellers from Australia and New Zealand enjoy the world’s best airline systems with the finest in-flight service, lounges, safety record and some of the lowest fares.

Page 18: A master plan for an eco-camp close to where Dirk Hartog became the first known European to set foot on WA’s coast has been submitted to the Department of Parks and Wildlife.

Page 24: The State Government faces more Budget blues, with prices tumbling for key exports and the economy slower than expected.

Business: The State Government will spend $22.7 million on corporate advisers to help kick Fremantle Port and Port Hedland’s Utah Point export terminal into shape for sale, figures released by Treasurer Mike Nahan reveal.

DVG Automotive has reduced its workforce by nearly 5 per cent in the face of stalled demand for new cars in WA.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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