23/03/2016 - 07:13

Morning Headlines

23/03/2016 - 07:13

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Atlas, BGC duel on eve of bond rescue deal

A legal battle has broken out between Atlas Iron and its biggest shareholder at a critical time for the struggling iron ore miner as it prepares to close a rescue deal with bondholders. The West

Roy Hill row with contractor heats up

The ongoing legal battle between Roy Hill Holdings and the head contractor on its namesake iron ore project has intensified with a fresh quarrel over access to a bank guarantee held in Korea. The Fin

Ore glut ‘vandalism’ over

Fortescue Metals Group chairman Andrew Forrest has declared that the “overproduction” of iron ore by majors BHP Billiton and Rio Tinto is ending but not without damage to the industry. The Aus

PM takes on Abbott legacy

Prime Minister Malcolm Turnbull has flagged giving the states extra money for health and education while cabinet agreed to keep two environmental agencies earmarked for abolition. The Fin

TPG ready to fight the NBN profit crunch

TPG Telecom executive chairman David Teoh says he will stave off a looming profit crunch caused by the national broadband network by selling more products that use his own broadband infrastructure and finding new sources of revenue. The Fin

GIP raises $2.75b for local fund

Global Infrastructure Partners, one of the proposed new owners of Asciano’s Pacific National rail business, has raised around $2.75 billion for its first Australian infrastructure fund to take advantage of rising demand for infrastructure investments. The Fin

 

 

The Australian Financial Review

Page 1: Prime Minister Malcolm Turnbull has flagged giving the states extra money for health and education while cabinet agreed to keep two environmental agencies earmarked for abolition.

Page 2: Telstra blamed a technical failure for the fourth outage of its mobile network in two months – an error that its rivals are exploiting by targeting upset customers with discount offers.

Page 3: Gina Rinehart’s Hancock Prospecting paid $466 million in tax in 2013-14, making the iron ore producer the biggest privately-owed corporate taxpayer in the country by far that year.

Page 5: Tensions over tax reform have re-emerged between Malcolm Turnbull and his Treasurer Scott Morrison while the Greens have warned both men they will not pass through the Senate cuts to either company tax or personal income tax after the next election.

Page 15: TPG Telecom executive chairman David Teoh says he will stave off a looming profit crunch caused by the national broadband network by selling more products that use his own broadband infrastructure and finding new sources of revenue.

ANZ chief executive Shayne Elliott says the bank’s board is examining new remuneration structures and pledged not to sweep misdeeds under the carpet ‘‘even if it comes at a cost of being in the newspaper or being sued by people’’.

Page 17: Global Infrastructure Partners, one of the proposed new owners of Asciano’s Pacific National rail business, has raised around $2.75 billion for its first Australian infrastructure fund to take advantage of rising demand for infrastructure investments.

Page 19: Former global JPMorgan banker Blythe Masters says she is confident Australia will build one of the world’s first bitcoin-like databases for share trades, saving brokers millions and leading a revolution in securities trading information.

Page 20: Training college Australian Careers Network was placed in administration, leaving 15,000 students in limbo after 16 troubled months on the sharemarket.

Page 25: The competition watchdog will investigate any moves by Rupert Murdoch’s News Corporation to lift its stake in Foxtel, but has acknowledged News already has a big say in the pay television company with its 50 per cent holding.

Page 26: The ongoing legal battle between Roy Hill Holdings and the head contractor on its namesake iron ore project has intensified with a fresh quarrel over access to a bank guarantee held in Korea.

Dick Smith workers say they are stuck in employment purgatory, unable to move on with their careers until told exactly when the collapsed retailer’s stores will close.

Page 33: DEXUS Property Group has appealed to the Takeovers Panel in a bid to stop Morgan Stanley voting against the proposed $10 billion merger of DEXUS and the Investa Office Fund in just over two weeks.

 

 

The Australian

Page 2: Australia has the monetary and fiscal firepower to withstand another major economic shock but the government’s structural budget deficit remains unresolved and cannot be blamed on the fall in commodity prices, the Reserve Bank governor has said.

Page 6: Almost 50 per cent of Liberal voters are comfortable with the party taking the controversial step of directing preferences to the Greens ahead of Labor in key marginal seats, despite the protests of senior figures including John Howard.

Page 7: Malcolm Turnbull and Scott Morrison are struggling to decide a $1 billion health deal that will be central to a July 2 election campaign in another sign of their personal tensions, as Labor exploits the divisions to warn of “dysfunction” at the top of the government.

Page 8: A national warning system to expose potentially dangerous doctors should be established by forcing practitioners to report litigation against them at the time of receiving a writ, according to the national medical regulator.

Page 19: Fortescue Metals Group chairman Andrew Forrest has declared that the “overproduction” of iron ore by majors BHP Billiton and Rio Tinto is ending but not without damage to the industry.

Page 20: The two great buffers that insulated Australia’s miners during the commodities price fall — a weakening dollar and slumping oil prices — have both reversed direction, taking the momentum out of the recent metals recovery and unwinding some of the industry’s hard-fought cost improvements.

 

 

The West Australian

Page 5: Malcolm Turnbull has tried to win back disheartened supporters with a climate change move as he was forced to contradict Tony Abbott over the Government’s policy agenda.

Page 14: Federal Liberal Nola Marino faces a serious preselection challenge as the party races to get candidates in place ahead of a possible double dissolution election.

Page 17: Colin Barnett has admitted there will be a swing against his Government at the next election as he foreshadowed a “significant” Cabinet reshuffle on Tuesday to refresh his administration.

Business: A legal battle has broken out between Atlas Iron and its biggest shareholder at a critical time for the struggling iron ore miner as it prepares to close a rescue deal with bondholders.

Premier Colin Barnett has promised farmers the live export industry will thrive if Fremantle Port is sold.

WA has moved a big step closer to giving up its power to veto the growing of genetically modified crops approved by Commonwealth regulators.

Several groups have expressed interest in the failed Hydra Energy’s undeveloped oil and gas fields off northern WA.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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