09/02/2016 - 07:00

Morning Headlines

09/02/2016 - 07:00

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Crescent’s NDC buys Perth dentists

Private equity firm Crescent Capital’s dentist roll-up, National Dental Care, has added 17 multi-surgery practices in Perth with the acquisition of DB Dental. The Fin

Stadium operator deal upsets WA footy chiefs

Tension has escalated between the WA Football Commission and the State Government after the commission’s stadium management arm, Perth Stadium Management, issued a veiled threat to continue playing AFL games at Domain Stadium in 2018 and beyond. The West

Govt eyes massive Medicare, health privatisation

Medicare, pharmaceutical and aged-care benefits would be delivered by the private sector under an extraordinary transformation of health services being secretly considered by the Federal Government. The West

Bitcoin miner’s float on hold after falling short

Bitcoin miner Bitcoin Group has put off its float again after it fell well short of its raising target of $20 million. The Fin

Broadspectrum earnings in question

Detention centre contracts doubt Broadspectrum’s long-term earnings from running detention centres on Nauru and Manus Island are in question after the Immigration Department said it would have to compete with another company for a new five-year contract. The Fin

WA may sell power assets

Western Australian Premier Colin Barnett conceded he may have to sell the state’s electricity assets after Moody’s Investors Service downgraded the state’s credit rating to Aa2 and said future deficits would blow out unless the Barnett government is more careful with its finances. The Fin

Credit Suisse buys Perth tower for $64m

Credit Suisse Real Estate Investment Management has bought a Perth office tower in an off-market counter-cyclical play for $64.2 million. The Fin

 

 

The Australian Financial Review

Page 1: Abolishing workplace-related tax deductions in return for lower rates of income tax, and targeting superannuation concessions for the wealthy, are now at the centre of the federal government’s plans to pay for tax cuts that will be smaller than intended due to the decision to keep the GST at 10 per cent.

Logistics group Asciano is considering paying its Canadian suitor, Brookfield Infrastructure, an $88 million break fee and swapping its support to a rival takeover bid from Qube Holdings.

Western Australian Premier Colin Barnett conceded he may have to sell the state’s electricity assets after Moody’s Investors Service downgraded the state’s credit rating to Aa2 and said future deficits would blow out unless the Barnett government is more careful with its finances.

Page 3: A Fair Work Commission decision suspending legal strike action by the Maritime Union of Australia at stevedore Patrick has been overturned by a tribunal full bench.

Page 4: The government could save $10 billion a year by trimming superannuation tax concessions, negative gearing and work-related expenses, Deloitte Access Economics partner Chris Richardson says.

Page 5: Treasurer Scott Morrison could save $16 billion over four years by drastically limiting the amount of pre-tax earnings Australians can pump into superannuation every year.

Page 9: Australia’s liquefied natural gas export boom has prevented a further $500 million blowout in the trade deficit and helped almost cancel out Australia’s petroleum import bill in December for the first time in five years, according to consultancy EnergyQuest.

Page 17: Detention centre contracts doubt Broadspectrum’s long-term earnings from running detention centres on Nauru and Manus Island are in question after the Immigration Department said it would have to compete with another company for a new five-year contract.

Page 18: The non-profit superannuation lobby has accused its bank-owned rivals of opposing new product disclosure ‘‘dashboard’’ rules in a bid to conceal ‘‘price-gouging’’, as new research shows retail funds charge higher fees.

Page 19: Bitcoin miner Bitcoin Group has put off its float again after it fell well short of its raising target of $20 million.

Page 20: Less than a month after pulling the plug on Masters, Woolworths chairman Gordon Cairns has earned more plaudits by shaking up the retailer’s board in a move investors say augurs well for the search for a new chief executive.

Page 23: The CEO of the company building the national broadband network has declared the fierce argument over which technology it should be using is over, and said rancour with internet service providers over costs would be solved by May.

Page 29: Gold Road Resources will hold discussions with parties interested in partnering with it on the $455 million Gruyere gold project after releasing an attractive pre-feasibility study on the project.

Page 30: Private equity firm Crescent Capital’s dentist roll-up, National Dental Care, has added 17 multi-surgery practices in Perth with the acquisition of DB Dental.

Page 28: Credit Suisse Real Estate Investment Management has bought a Perth office tower in an off-market counter-cyclical play for $64.2 million.

 

 

The Australian

Page 1: Australia’s most senior immigration official has savaged the ABC’s coverage of Australia’s refugee policies, saying “it’s getting to the point that there is advocacy parading as journalism”.

Page 2: The French have moved to undermine Japan’s bid to build the navy’s new submarines, saying only a “complete submarine power’’ such as France can provide the strategic partnership Australia needs for its future defence.

Page 4: Tycoon Lindsay Fox’s $300 million-plus bid for the S. Kidman portfolio has struck a chord with senior Nationals and independent politicians as they say the properties would be better off in local hands.

Page 7: Auditors Ernst and Young will be scrutinised for signing off on the finances of Clive Palmer’s Queensland Nickel in September last year, only for the company to fall into voluntary administration and sack 237 workers in January.

Page 21: Ansell chief executive Magnus Nicolin yesterday said he had never seen such turbulent conditions in the world economy as he handed down a 20.6 per cent fall in interim net profit that was scarred by volatility in industrial and medical markets.

Page 23: OzForex chief Richard Kimber has vowed to be more cautious when he opens the books to any future suitors after distractions from Western Union’s $888 million takeover bid took its toll on earnings and failed to result in a formal offer.

 

 

The West Australian

Medicare, pharmaceutical and aged-care benefits would be delivered by the private sector under an extraordinary transformation of health services being secretly considered by the Federal Government.

Shares in gold hopeful Dacian Gold spiked to a new all-time high yesterday after the would-be producer reported new drilling results at its Mt Morgans gold project near Laverton.

Contractor MACA recently completed the first blast in the Deflector open pit and has commenced open pit mining operations this month as forecast.

Tension has escalated between the WA Football Commission and the State Government after the commission’s stadium management arm, Perth Stadium Management, issued a veiled threat to continue playing AFL games at Domain Stadium in 2018 and beyond.

The entire tender for the Perth Freight Link may have to be abandoned because of delays over the project, the Federal Transport Department says.

Four mayors and the president of WAFarmers have joined forces to shift the State Government’s focus away from Fremantle Port to the development of a multibillion-dollar alternative in the outer harbour.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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