22/01/2016 - 07:18

Morning Headlines

22/01/2016 - 07:18

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Vast WA rangelands unlocked

The State Government will rewrite land use laws covering almost 90 per cent of WA in an effort to attract investment in vast areas controlled by pastoralists or classed as crown land. The West

Woolworths struggles to hire CEO

Woolworths chairman Gordon Cairns admits it will take longer than expected to replace chief executive Grant O’Brien in a sign of how tough it will be to turn around what was once regarded as Australia’s best-run retailer. The Fin

Job seekers urged to look at trades, not uni

The peak business lobby is urging people to consider an apprenticeship or traineeship if they do not get offered a place at university this week, following a fall in numbers. The West

Fears rules will hurt tourism in Swan Valley

The Swan Valley’s popular Margaret River Chocolate Company, which made headlines last month when Denmark’s Princess Mary was snapped queuing for a sugar fix, may not have been allowed under new guidelines proposed for the wine and tourism region. The West

Backers hope low leverage helps South32

South32 investors say the miner’s earnings will not provide much support for its diminished share price but are hopeful its strong balance sheet and low leverage will. The Fin

Low prices force Independence rethink

The sustained downturn in commodity prices has forced Independence Group to slash its exploration spending for 2016 and add to the job toll mounting in the resources-rich state. The Fin

Monday ‘sickies’ to cost $7m

About 20,000 WA workers are expected to take a sickie on Monday ahead of Tuesday’s Australia Day public holiday, costing WA employers $7 million. The West

Mt Cattlin restart on track

General Mining Corporation and Galaxy Resources are eyeing off-take contracts next month as the revamped Mt Cattlin spodumene and tantalum mine near Ravensthorpe gathers momentum. The West

 

 

The Australian Financial Review

Page 1: Woolworths chairman Gordon Cairns admits it will take longer than expected to replace chief executive Grant O’Brien in a sign of how tough it will be to turn around what was once regarded as Australia’s best-run retailer.

Page 3: The Queensland government will be asked to consider providing a loan guarantee or a tax holiday to keep Clive Palmer’s Townsville nickel refinery open with no buyers for the embattled Queensland Nickel coming forward.

Page 4: Treasurer Scott Morrison has vowed to pursue ‘‘strong’’ changes to the tax system and emphasised the importance of cutting company tax in some of his first comments on the subject in election year.

Page 10: General Motors is taking another step in its push to become a big player in car-and ride-sharing services by introducing its Maven brand to compete with the likes of Zipcar and Uber.

Page 13: Woodside Petroleum’s 2015 earnings will be hit by up to $US1.2 billion of asset write-downs as the oil and gas producer cut expectations for oil prices after a market plummet that has shocked both producers and investors in its severity.

Barclays has executed a rapid exit from the Australia market, as the investment bank seeks to cut costs by slashing jobs across the Asia-Pacific region.

Broadspectrum investors have backed the board’s decision to formally reject Ferrovial’s $715 million hostile takeover bid after an independent expert’s report concluded the Spanish infrastructure group’s offer was ‘‘not fair and not reasonable’’.

Page 18: South32 investors say the miner’s earnings will not provide much support for its diminished share price but are hopeful its strong balance sheet and low leverage will.

Page 23: The sustained downturn in commodity prices has forced Independence Group to slash its exploration spending for 2016 and add to the job toll mounting in the resources-rich state.

Page 27: Goldman Sachs says the world’s fourth-biggest iron ore miner, Fortescue Metals Group, faces risks that are not reflected in its current share price.

 

 

The Australian

Page 1: The US believes Australia would benefit strategically and militarily if it were to buy submarines from Japan, Tony Abbott’s former national security adviser has revealed.

Page 2: The Turnbull government must decide within weeks whether to back Kevin Rudd’s tilt to replace UN Secretary-General Ban Kimoon when his term expires at the end of this year.

Page 3: Netflix faces being technically overpowered by online unblocking services that say they can thwart its attempt to prevent Australians accessing its US library of movies and TV series.

Page 4: Australia is poised to benefit from a growing exodus of capital seeking refuge outside emerging markets, especially China, where heightened financial instability and waning growth has put a cloud over that nation’s economic resilience.

Page 19: Technology services company Hills, whose portfolio of legacy brands includes the Hills hoist clothesline, has rejected reports it will be left in the lurch by Woolworths’ decision to sell or close its struggling Masters hardware chain, and will enforce an exclusive licensing deal struck with the supermarket group in late 2014.

Telstra is continuing to beef up its technology portfolio as it moves to acquire Melbourne-based managed services provider Kloud Solutions for $40 million.

Page 20: Some of Australia’s riskiest margin lenders have promised to tighten access to their double-geared margin loans following a probe by the corporate watchdog.

Page 23: Family Court Chief Justice Diana Bryant has expressed “considerable concern and dismay” over the federal government’s plan to radically overhaul the administration of the courts.

Page 24: Deputy Prime Minister Warren Truss has declined bipartisan requests to ensure no new chief executive is appointed at Airservices Australia before the findings of an investigation into dealings over the $1.5 billion OneSky air traffic control project are known.

 

 

The West Australian

Page 3: About 20,000 WA workers are expected to take a sickie on Monday ahead of Tuesday’s Australia Day public holiday, costing WA employers $7 million.

Page 5: The Heritage Council is considering its biggest listing — Fremantle’s historic West End precinct.

Page 17: The Swan Valley’s popular Margaret River Chocolate Company, which made headlines last month when Denmark’s Princess Mary was snapped queuing for a sugar fix, may not have been allowed under new guidelines proposed for the wine and tourism region.

Page 25: Three WA petrol stations have been fined $1000 each for overcharging. It is the first time in three years that such infringement notices have been issued.

Page 26: One of the country’s leading honey producers has hit out at claims that Australian honeys are among the world’s most contaminated with dangerous natural toxins.

Page 28: The peak business lobby is urging people to consider an apprenticeship or traineeship if they do not get offered a place at university this week, following a fall in numbers.

Page 32: One of Malcolm Turnbull’s key lieutenants has reportedly escaped having corruption findings levelled against him, even though the NSW anti-corruption watchdog says it is still finalising its recommendations.

Page 33: The economy would be tens of billions of dollars smaller and health costs almost one-third higher without three decades of medical and scientific breakthroughs, a report to be released today finds.

Business: The State Government will rewrite land use laws covering almost 90 per cent of WA in an effort to attract investment in vast areas controlled by pastoralists or classed as crown land.

Resources contractor AusGroup has tapped former Southern Cross Electrical Engineering boss Simon High to lead its engineering services unit.

General Mining Corporation and Galaxy Resources are eyeing off-take contracts next month as the revamped Mt Cattlin spodumene and tantalum mine near Ravensthorpe gathers momentum.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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