14/01/2016 - 06:43

Morning Headlines

14/01/2016 - 06:43

Bookmark

Save articles for future reference.
Morning Headlines

Windfall profits from oil collapse

The crude oil rout, which pushed the spot price under $US30 for the first time in 12 years, is delivering windfall profits for Australia's four remaining oil refineries. The Fin

Labor anger over unions' Greens shift

Unions are moving to widen their political influence before this year's federal election by pouring cash into the Greens, a strategy that is infuriating Labor and sparking accusations of disloyalty against union officials who are formally aligned with the ALP. The Aus

Chinese data offers hopes for recovery

Global financial markets finally recovered yesterday as China posted unexpectedly strong monthly trade figures and policy makers in Beijing continued to stabilise the yuan after a rapid devaluation last week exacerbated fear of a hard landing in the world's second-biggest economy. The Aus

China's steel mills pulling the pin

Chinese steel mills are steadily pulling the pin on billions of dollars worth of investments in Australia, with several major Chinese players quietly retreating from iron ore projects amid weak iron ore prices and rising pressure in their domestic economy. The Aus

Blame game rages on over Yarloop fire alert

Career firefighters yesterday accused their Department of Parks and Wildlife cousins of poor communication on the Yarloop fireground yesterday as questions continued over why the town was late to be included in emergency alerts. The West

China chaos may tighten flight of capital to Aussie

The carnage in China's sharemarkets at the start of the year could have a longer-lasting impact on the demand for Australian property, experts said. The Fin

Farmers fear a 'kick in guts'

Waterside workers planning strike action for next week appear set to back down to avoid affecting farmers fighting to get back on their feet in the wake of deadly fires in the South West. The West

 

The West Australian

Page 5: Hundreds of WA women are taking part in a trial of radioactive seeds that guide surgeons to “silent” breast cancers.

Page 6: Career firefighters yesterday accused their Department of Parks and Wildlife cousins of poor communication on the Yarloop fireground yesterday as questions continued over why the town was late to be included in emergency alerts.

Page 7: Operators of the DC-10 super tanker that can deliver 43,000 litres of water have rejected the 2 ½ hour turnaround time for the giant plane claimed by the Department of Fire and Emergency Services.

Page 8: The union representing career firefighters says it does not have the manpower to respond quickly enough to emergencies in a modern WA grappling with population growth, traffic congestion and climate change.

Page 16: The federal government has sent its strongest signal it will seek wholesale changes to the nation's media laws, but Labor is warning against any move that reduces news services in regional Australia.

Business: China Inc appears to be narrowing its iron ore investment focus, with a Rio Tinto-led consortium delivering feasibility studies on the giant Simandou project in Guinea at the same time as a state-owned builder put a hold on Sundance Resources' Cameroon ambitions.

One of Perth's biggest stockbrokers Andrew Frazer is headed for a new brokerage after his employer, Canada's GMP Securities, decided to pull out of Australia.

Waterside workers planning strike action for next week appear set to back down to avoid affecting farmers fighting to get back on their feet in the wake of deadly fires in the South West.

Macmahon Holdings shares gained ground yesterday as investors pondered whether the sold-down Perth contractor would become the third target of Spanish-controlled giant CIMIC Group's portfolio clean-up.

The ship which has hauled alumina from Kwinana to a smelter in Victoria for the past 27 years has finally been sent to the scrapheap, after unionists accused of holding it “hostage” were removed in a surprise raid.

 

The Australian Financial Review

Page 1: The crude oil rout, which pushed the spot price under $US30 for the first time in 12 years, is delivering windfall profits for Australia's four remaining oil refineries.

Essendon Football Club is preparing a war chest from wealthy business backers as it hunkers down for an onslaught of legal action by the 34 current and former players suspended for the 2016 season.

Page 3: Companies that have extensive property or equipment leases, including airlines and miners, are facing new administrative costs after the introduction of long-awaited new lease accounting rules

Page 5: Nationals MP John Cobb has hit out at his party colleagues, saying they are whipping up speculation about leader Warren Truss' resignation to further their own careers, and made thinly veiled criticisms of deputy leader Barnaby Joyce.

Page 6: The carnage in China's sharemarkets at the start of the year could have a longer-lasting impact on the demand for Australian property, experts said.

Page 8: A bitter dispute between the union and aluminium manufacturer Alcoa has led to workers escorted off a cargo ship in the dead of night by security guards after a two-month standoff.

Page 13: Investors are finally starting to slow their withdrawals from investment funds that pick big stocks.

Page 14: Swiss-based commodities giant Glencore has taken a punt on embattled junior iron ore miner Atlas Iron.

The potential collapse of iron ore miner Gindalbie Metals has raised red flags over Brookfield Rail's income stream at a dicey time for the Canadian infrastructure group, which is trying to buy rail and ports group Aurizon.

Page 15: Spanish-led construction group CIMIC has made a $256 million hostile takeover bid for Sedgman after the Queensland-based engineering group rejected demands to shrink its board.

Technology distributor Synnex Australia is believed to be among the ranks of creditors who will attend the Dick Smith Holdings creditor meeting on Thursday looking for answers over debts totalling more than $200 million.

Page 16: A Santos and Origin Energy mega-merger could drive $3 billion of cost synergies and help both weather rock-bottom oil prices, says Credit Suisse.

Page 23: A Chinese construction company has placed a significant roadblock in the development of Sundance Resources' Mbalam-Nabeba iron ore project after failing to sign a key contract due to the plummeting iron ore price.

Page 26: Iron ore is poised to retest its December record low as Chinese steel mills rebuild inventory, says ANZ.

 

The Australian

Page 1: Unions are moving to widen their political influence before this year's federal election by pouring cash into the Greens, a strategy that is infuriating Labor and sparking accusations of disloyalty against union officials who are formally aligned with the ALP.

The immediate success of US streaming giant Netflix will jeopardise Australian jobs and original local programming, unless the government pushes ahead with broad changes to media laws, the chief executive of Nine Network has warned.

Barack Obama has used his final State of the Union address to remind his critics at home and abroad that the US remains the world's most powerful nation, leading the fight against the “killers and fanatics” of Islamic State and setting “the rules” in the Asia-Pacific region

Page 4: A new crisis has deepened the Turnbull government's election year battle with the union movement after five crew were pulled from the MV Portland in an after-dark raid, ending a 60-day industrial standoff over coastal shipping rules.

Labor is preparing for an assault on the construction industry watchdog at the start of parliament next month, when the federal opposition will raise questions over the leadership of agency boss Nigel Hadgkiss and claim signs of “dysfunction”.

Page 5: West Australian Emergency Services Minister Joe Francis was unaware a senior fire manager had deemed it too late to evacuate the town of Yarloop more than six hours before an emergency warning was finally issued for the town's residents.

Business: Global financial markets finally recovered yesterday as China posted unexpectedly strong monthly trade figures and policy makers in Beijing continued to stabilise the yuan after a rapid devaluation last week exacerbated fear of a hard landing in the world's second-biggest economy.

Chinese steel mills are steadily pulling the pin on billions of dollars worth of investments in Australia, with several major Chinese players quietly retreating from iron ore projects amid weak iron ore prices and rising pressure in their domestic economy.

Business is reigniting its campaign for reform of 457 visas, declaring it time to dispel “misinformation” about the scheme for skilled foreign workers.

The construction heavyweight CIMIC has launched a $256 million hostile takeover bid for mining services group Sedgman as it looks to settle a months-long dispute over the target's board.

BP has announced it will slash about 4,000 jobs in its exploration and production unit – about one sixth of the staff in that business – over the next year or so, the latest in a wave of cuts across an industry beset by plummeting oil prices.

Australia's banks have welcomed a decision by global regulators not to further tighten capital requirements when new rules are finalised later this year that analysts say may still have implications for local lenders' dividend payouts.

Malcolm Turnbull's appetite for innovation is flowing through to Australia's small- to medium size sector, with a new survey showing small businesses have caught the innovation bug and are spending big money on technology and training.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options