05/01/2016 - 06:40

Morning Headlines

05/01/2016 - 06:40

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Oil jumps on Mid-East tensions

Escalating tension in the Middle East has driven up oil prices from their New Year's Eve lows as traders worry that a sudden new diplomatic row between Saudi Arabia and Iran could disrupt supply and push up prices. The Fin

Woodside hits gas in Myanmar

Woodside Petroleum looks well-placed to capitalise on its early entry into the exploration nhotspot of Myanmar, reporting what chief executive Peter Coleman called an “encouraging” gas discovery at its first well. The Fin

Brighter outlook for business

The first business surveys of the year are optimistic despite the continuing tumble in prices for resource exports and weakness in the Chinese economy. The Aus

Two more years of pain for Perth

One of the country's biggest private property developers, Nigel Satterley, has warned that the Perth property market faces two years of “recession-like” conditions. The Fin

Minister's 'witch' text marks bad spell for PM

Malcolm Turnbull says Immigration Minister Peter Dutton calling a female journalist a “mad f...ing witch” was “clearly inappropriate” but Labor is demanding the Prime Minister justify keeping him in Cabinet. The West

WA Labor ahead in new poll

State government frontbencher Joe Francis has described a new poll putting Labor in an election winning position as a “wake-up call”. The West

Corporate doctor for OMH's bust NT mine

OM Holdings' Bootu Creek manganese operation in the Northern Territory has earned the dubious distinction of becoming the first mining bust of 2016. The West

Dick Smith bankers call in receivers

Dick Smith's two-year life as a listed public company came to an abrupt end last night when the banks appointed a receiver to the company and the troubled retailer appointed a coluntary administrator. The Aus

 

The West Australian

Page 4: Malcolm Turnbull says Immigration Minister Peter Dutton calling a female journalist a “mad f...ing witch” was “clearly inappropriate” but Labor is demanding the Prime Minister justify keeping him in Cabinet.

State government frontbencher Joe Francis has described a new poll putting Labor in an election winning position as a “wake-up call”.

Page 5: Pankaj and Radhika Oswal have taken the first steps towards demolishing their unfinihsed Peppermint Grove mansion.

Page 6: Perth homeowners have had a brief respite from falling house values, with the latest figures showing they rose last month.

Business: Uncertainty shrouds Dick Smith Holdings as the flagging electronics retailer prepares to update nervous investors on its financial position.

Woodside Petroleum's much hoped-for year of exploration success has got off to a promising starts with a gas discovery in hitherto frontier waters off Myanmar.

OM Holdings' Bootu Creek manganese operation in the Northern Territory has earned the dubious distinction of becoming the first mining bust of 2016.

 

The Australian Financial Review

Page 1: Escalating tension in the Middle East has driven up oil prices from their New Year's Eve lows as traders worry that a sudden new diplomatic row between Saudi Arabia and Iran could disrupt supply and push up prices.

Business leaders say corporate Australia has a better handle on the challenge of how to deal with workplace harassment issues than may be the case in the political sphere.

Major banks have lopped tens of thousands of dollars off how much they are prepared to lend home buyers, reflecting tougher lending standards as property prices weaken.

Woodside Petroleum looks well-placed to capitalise on its early entry into the exploration nhotspot of Myanmar, reporting what chief executive Peter Coleman called an “encouraging” gas discovery at its first well.

Page 2: Australia's corporate heavyweights gathered at the KPMG Couta Boats Classic race have slammed the trade union movement following the release of the Heydon royal commission report, and called for workplace reform.

Page 3: Accountants are encouraging rich clients to top up their super before the May federal budget, saying it could be the equivalent of 2007's one-off $1 million top-up opportunity.

Page 5: One of the country's biggest private property developers, Nigel Satterley, has warned that the Perth property market faces two years of “recession-like” conditions.

Paul Thompson, the former Rabobank trader facing possible extradition to the United States, has sold an investment property in Mandurah, south of Perth, for $1.1 million, which is less than half of the purchase price.

Page 7: Australia Post has been flooded with complaints on social media after it raised its stamp price to $1 for slower letter delivery service on Monday.

Page 13: Pundits warn that troubled electronics retailer Dick Smith may struggle to re-finance its debt and is at risk of going under after the company voluntarily suspended its shares to buy time to shore up its balance sheet.

Page 15: Macquarie-backed Quadrant Energy has scored its first success with the drill bit since its formation last year through the $US2.1 billion buyout of Apache's Australian assets, but the discovery at the Roc 1 well has only highlighted the early stage of exploration in the remote area off Western Australia.

Australia's fourth-biggest mobile phone provider, Amaysim, has bought telecommunications group Vaya for $70 million in a takeover that will support the company's goal of securing 1 million users by 2029.

 

The Australian

Page 1: Malcolm Turnbull told Jamie Briggs he may need to resign for his “inappropriate” behaviour at a Hong Kong bar almost a fortnight before a subcommittee of cabinet considered the findings of an independent investigation into the allegations.

Page 4: The first business surveys of the year are optimistic despite the continuing tumble in prices for resource exports and weakness in the Chinese economy.

The gap between the country's best and worst performing property markets could widen over the coming year as persistent uncertainty over employment prospects and commodities pricing keeps a clamp on price growth in the country's weakest markets.

The federal government is unlikely to come to the rescue of the West Australian budget with more infrastructure funding unless it bites the bullet on asset sales.

Business: Dick Smith's two-year life as a listed public company came to an abrupt end last night when the banks appointed a receiver to the company and the troubled retailer appointed a voluntary administrator.

The chairman of one of Australia's largest construction companies yesterday declared it is “absolutely essential” that parliament responds with firm legislation to the findings of the royal commission into trade unions.

Woodside Petroleum's first exploration well in Myanmar has met with some success, delivering what appears to be a moderate gas discovery that will encourage more drilling in the region.

Federal Resources Minister Josh Frydenberg warned yesterday that this year would remain challenging for the resources industry, but declared that reforms to the labour market and firmer controls on union militancy could act as the boost that the sector needed.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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