11/09/2013 - 06:57

Morning Headlines

11/09/2013 - 06:57

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Warning to banks on risky loans

The prudential regulator has told banks not to increase risky lending as they compete aggressively for mortgage customers, raising the prospect of more direct controls to prevent record low interest rates from fuelling a destabilising surge in house prices. The Fin

Jakarta opens door on talks on Abbott's asylum policies

President Susilo Bambang Yudhoyono has opened the way for Tony Abbott to make his first foreign visit as prime minister to Indonesia, with bilateral talks on the controversial policy of turning around asylum-seeker boats possible within a fortnight. The Aus

Labor digs in on tax with Bracks's recall

Prime Minister-elect Tony Abbott's chances of repealing the carbon tax have taken a hit after his decision to rescind a Labor diplomatic appointment hardened the opposition's resolve to fight him in Parliament while Clive Palmer also threatened to withdraw his support for the move. The Fin

Barnett calls teacher rally a big mistake

Colin Barnett told state Parliament yesterday that the school teachers' union had made a “big, big mistake” holding a “joint political rally” with the Labor Party in the final week of the federal election campaign. The West

LNG buyers battle prices

Asia's liquefied natural gas buyers, headed by giant importer Japan, are set to join forces to drive down prices for the fuel, further pressure to pricing negotiations that producers such as Woodside Petroleum say have never been so tough. The Fin

Tie-ups key to unlocking Browse potential: Santos

Oil and gas producer Santos will call today for widespread consolidation of undeveloped gas resources throughout the Browse Basin off northern Western Australia, with the company set to publicly push f or stronger ties between its joint ventures in an effort to drive development in the region. The Aus

Gulf fund in $800m takeover of hotels

Global investment heavyweight Abu Dhabi Investment Authority has provided a boost to the hotel industry with the record-breaking $800 million purchase of Australia’s largest hotel owner, Tourism Asset Holdings. The Aus

Crippled cattle ship crisis

The WA live export industry has suffered another blow after revelations a crippled ship anchored off Fremantle with 5,240 cattle on board suffered a mechanical failure last year that caused an animal welfare disaster. The West

Wet trainee shortage to hit WA industry

A shortage of apprenticeships for wet trades is looming in WA's building industry and there are concerns the low take-up rate and the time taken to recruit new apprentices could trigger expensive delays for consumers and the industry. The West

 

The West Australian

Page 1: Tony Abbott has delivered a much-needed confidence boost to business with some Perth firms rehiring staff sacked in the wake of Rudd government policies.

Page 4: Anthony Albanese and Bill Shorten are poised to contest the Labor leadership in an unprecedented month-long ballot process split between caucus and party members.

High-profile mining magnate Clive Palmer claims “corrupt practices” and voting irregularities will kill off his bid to win a seat in Parliament.

Page 5: One of WA's top judges has criticised the judiciary's growing workload, calling on Attorney-General Michael Mischin to explain what he thinks she does “sitting around” in her office.

Page 14: Colin Barnett told state Parliament yesterday that the school teachers' union had made a “big, big mistake” holding a “joint political rally” with the Labor Party in the final week of the federal election campaign.

Page 18: Tourism WA – battered after the Barnett government failed to honour its pre-election promise of a $24 million boost in market funding – has secured a deal with Qantas to promote WA around the world.

West Australians are being tempted into the air by some of the cheapest fares offered as airlines slug it out to fill empty seats.

An eastern states property investment promoter can no longer push his rent-to-buy scheme in WA after signing an agreement with Consumer Protection.

Page 26: Construction has started on a 10-storey tower at the Kings Square development in central Perth.

Business: The WA live export industry has suffered another blow after revelations a crippled ship anchored off Fremantle with 5,240 cattle on board suffered a mechanical failure last year that caused an animal welfare disaster.

Fortescue Metals Group has wasted no time pushing on with plans for its Iron Bridge project, releasing environmental approval documents for public comment one month after announcing a $US1.15 billion development deal with Taiwan's Formosa Plastics Group.

The 2½ year marriage of Avoca Resources and Anatolia Minerals is all but over after one of the architects of the $2 billion Alacer Gold merger, Rohan Williams, last night quit the board.

Alinta Energy's electricity retail arm is demanding that business customers wanting to install solar panels forfeit the surplus energy they produce before agreeing to supply them.

Elders will cut 10 per cent of its workforce across Australia after convincing banks there is still life in the 174-year-old company.

A shortage of apprenticeships for wet trades is looming in WA's building industry and there are concerns the low take-up rate and the time taken to recruit new apprentices could trigger expensive delays for consumers and the industry.

 

The Australian Financial Review

Page 1: The prudential regulator has told banks not to increase risky lending as they compete aggressively for mortgage customers, raising the prospect of more direct controls to prevent record low interest rates from fuelling a destabilising surge in house prices.

Anglo-Swiss mining giant Glencore Xstrata officially shelved its $7 billion Wandoan thermal coal project in Queensland, following an industry-wide cost-cutting in response to lower coal prices.

Page 4: One day after Californian contracting giant Jacobs set the engineering world alight with a $1.3 billion offer for Australian consultancy Sinclair Knight Merz, the company's retired co-founders admit to a sense of shock at the size of the blockbuster deal.

Page 6: Prime Minister-elect Tony Abbott's chances of repealing the carbon tax have taken a hit after his decision to rescind a Labor diplomatic appointment hardened the opposition's resolve to fight him in Parliament while Clive Palmer also threatened to withdraw his support for the move.

Page 7: Faction leader Bill Shorten has officially declared himself a candidate for the party's leadership, putting pressure on deputy leader Anthony Albanese to declare his intentions.

Page 8: Mining magnate turned politician Clive Palmer has called on the federal government to create a tribunal to resolve disputes with state-owned foreign companies investing in Australia.

Mining billionaire Clive Palmer's $90 million dispute with the Australian Taxation Office has been settled days after he stood for the Sunshine Coast seat of Fairfax in the federal election.

Page 10: One of the nation's leading experts on public inquiries, Scott Prasser, says the Coalition's planned audit commission will need to consider the goods and services tax and divisions between state and federal responsibilities for services.

Page 11: The Labor Party's chances of winning back government would require a rebound in voter support almost 50 per cent larger than what has happened at most modern federal elections.

Page 13: Business confidence has hit its highest level in over two years and risen in every major sector, according to a new survey.

Page 15: Telstra has begun trials of a new mobile technology that can reach download speeds up to nine times faster than what the Coalition's national broadband network will deliver to most homes and businesses.

Page 17: Asia's liquefied natural gas buyers, headed by giant importer Japan, are set to join forces to drive down prices for the fuel, further pressure to pricing negotiations that producers such as Woodside Petroleum say have never been so tough.

Page 18: UGL chairman Trevor Rowe has defended the contractor's cautious moves towards a de-merger, arguing the company has structural issues to address before separating its property and engineering arms.

 

The Australian

Page 1: President Susilo Bambang Yudhoyono has opened the way for Tony Abbott to make his first foreign visit as prime minister to Indonesia, with bilateral talks on the controversial policy of turning around asylum-seeker boats possible within a fortnight.

Public servants are drawing up plans to collapse 33 climate change schemes run by seven departments and eight agencies into just three bodies run by two departments under a substantial rewrite of the administration of carbon abatement schemes under the Coalition.

Bill Shorten has told colleagues he wants the Labor leadership, as his key rival Anthony Albanese continues to weigh his options ahead of a caucus meeting on Friday to decide the issue.

Page 2: The prospect of an Abbott government sent business confidence soaring during the election campaign, paving the way for a revival in economic activity that could result in the Reserve Bank sitting on its hands for the foreseeable future.

Page 3: The focus on generic skills in the national curriculum risks breeding a profession of general-capabilities educators rather than teachers of specialist subjects such as history, English or maths.

Page 5: Households face higher power bills for longer if the Senate obstructs the Abbott government’s repeal of the carbon tax.

A leading union has questioned the Coalition’s mandate to cut 12,000 public sector jobs over two years, and vowed to enforce existing workplace agreements to try to avoid any forced redundancies.

Page 6: Steve Bracks ignored advice from Australia’s longest-serving foreign minister, Alexander Downer, not to take up a plush diplomatic New York posting after being told he would have to ‘‘pack up again and come all the way back’’ if the Coalition won the election.

Page 7: The nation’s four biggest political parties are backing a parliamentary inquiry into Saturday’s Senate vote after backroom preference deals between micro- parties saw candidates elected with as little as 2000 primary votes.

Business: Global investment heavyweight Abu Dhabi Investment Authority has provided a boost to the hotel industry with the record-breaking $800 million purchase of Australia’s largest hotel owner, Tourism Asset Holdings.

The banking regulator has moved to head off the build-up of systemic risk as record  low interest rates and hot competition fuel property prices, and has warned banks not to relax home lending standards.

Australia has joined major gas-producing countries and companies in warning Japan to be ‘‘careful what it wishes for’’ in its attempts to overturn the oil-linked liquefied natural gas pricing model.

Oil and gas producer Santos will call today for widespread consolidation of undeveloped gas resources throughout the Browse Basin off northern Western Australia, with the company set to publicly push for stronger ties between its joint ventures in an effort to drive development in the region.

Japan and India have agreed to set up a multilateral group of buyers for liquefied natural gas to push for lower prices for the fuel, and they plan to ask other importers to join them.

Hiring in mining and construction is tipped to continue its downward trend for the rest of the year, with a quarterly survey of employment intentions recording its lowest result in five years.

Struggling rural services company Elders is set to axe about 150 jobs or 10 per cent of its workforce, as it reorganises its business and reduces debt.

Australian Rugby Union chief executive Bill Pulver has said the sport needs a presence on free-to-air television to gain a larger following, as he considers a dramatic shake-up of the domestic competition to attract interest from broadcasters.

The parlous state of the thermal coal export market — and a corporate dislike f or spending on growth projects where returns are not assured — has prompted the newly merged Glencore Xstrata to formally place its $7 billion Wandoan coal project in Queensland on ice.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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