30/03/2016 - 07:10

Morning Headlines

30/03/2016 - 07:10

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Qube benefits from Brockman’s maverick move on Pilbara

Brockman Mining will not give up the fight to use Fortescue Metals Group’s Pilbara rail networks despite striking a deal with logistics group Qube to haul some iron ore by road, chief executive Colin Paterson said. The Fin

Bad debt worries hit banks

Australia’s once high-flying major banks remained under intense selling pressure yesterday as resource-related bad debt provisions compounded earnings uncertainty. The West

New wave player sets sights on small targets

WA’s South West coast is set to see another wave energy player, with Protean Wave Energy yesterday announcing plans to launch up to 30 wave energy converter buoys in Bunbury as part of its demonstration wave farm. The West

Woolworths needs to fix more than its Homebrands

Woolworths has been applauded for ditching its ‘‘dated’’ Homebrand label but marketing experts say the retailer needs to tweak its entire private label range to avoid confusing customers and better compete with Coles and Aldi. The Fin

ANZ tightens mortgage rules for foreigners

ANZ has closed the door on some overseas buyers wanting to invest in Australian real estate. The Fin

‘Happy clappers’ may thwart Forrest protege

Liberal Party figures backing a protege of mining magnate Andrew Forrest to enter federal politics are worried he will lose a preselection battle for the seat of Burt because of the rise of a “Christian Right” faction in Western Australia. The Aus

 

 

The Australian Financial Review

Page 1: The value of the major banks fell by almost $25 billion in two brutal days on the sharemarket because investors are worried credit losses will accelerate and hurt profits.

New Medibank Private chief executive Craig Drummond says rising medical costs are unsustainable, setting the scene for the insurer to extend its reach into members’ healthcare and to place greater pressure on providers and government.

Page 3: ANZ has closed the door on some overseas buyers wanting to invest in Australian real estate.

Western Australian Premier Colin Barnett made wider-than-planned changes to his front bench to blunt political attacks from a resurgent Labor Party.

Page 4: Former army corporal Jacqui Lambie is the only senator to refuse a government offer to negotiate over tougher industrial relations laws, increasing the chances there will not be a double dissolution election on July 2.

Page 5: Competition tsar Rod Sims says the effects test introduced to competition law must be strong enough to protect emerging fintech start-ups from anticompetitive behaviour from the big four banks.

Page 11: James Packer has agreed to a compromise over the structure of the gaming floor for his $2 billion Crown Sydney casino which he hopes will safeguard gambling revenues for a project the billionaire regards as the most critical in his global project pipeline.

Dominant gas transporter APA Group has bought out its co-investor AGL Energy from a Queensland power station for $151 million in a deal that has prompted some to question if it is running out of opportunities in its core pipeline business.

Woolworths has been applauded for ditching its ‘‘dated’’ Homebrand label but marketing experts say the retailer needs to tweak its entire private label range to avoid confusing customers and better compete with Coles and Aldi.

Page 17: Brockman Mining will not give up the fight to use Fortescue Metals Group’s Pilbara rail networks despite striking a deal with logistics group Qube to haul some iron ore by road, chief executive Colin Paterson said.

 

 

The Australian

Page 1: States are divided on a radical tax plan to levy their own income taxes to secure hospital funding as premiers warn they want the federal government to foot the bill for their long-term health needs.

Page 6: The poorer half of working Australians will face an almost 30 per cent increase in their tax bills over the next four years in the absence of any personal income tax cuts in the May budget.

Liberal Party figures backing a protege of mining magnate Andrew Forrest to enter federal politics are worried he will lose a preselection battle for the seat of Burt because of the rise of a “Christian Right” faction in Western Australia.

Page 19: Ericsson has joined the Telstra’s search for the cause of recent outages across its network.

Page 20: The new free-trade agreement with China will not save Australian exporters from the imminent imposition of the country’s 17 per cent value-added tax on 70 per cent of the value of the many of the goods they will sell there online.

Page 21: Ten Network Holdings and Bruce Gordon’s WIN Corporation have kicked off crucial affiliation talks, which could spell the end of a 27-yeatr relationship between WIN and Nine Entertainment.

Uber has launched a partnership with Optus that will see in-car WiFi deployed in cars across Melbourne and Sydney, and cheaper data and phone plans for drivers.

 

 

The West Australian

Page 1: Malcolm Turnbull is considering a plan to restore limited income tax powers to the States under a move that would turn back the clock to World War II.

Page 3: Fremantle’s cappuccino strip will be closed to cars for the next three Sundays in a test that could lead to the closures becoming a regular summer fixture.

Almost 30 per cent of Western Australians are resigned to working at least to age 70 as people across the country push back their expected retirement.

Page 12: Travellers have been warned to expect long delays at Perth Airport for the next week as Australian Border Force officers strike over pay and conditions.

Page 18: A Rottnest ferry company and a Broome eco-resort have teamed up to build the first “glamping” accommodation on WA’s favourite holiday island.

Business: Australia’s once high-flying major banks remained under intense selling pressure yesterday as resource-related bad debt provisions compounded earnings uncertainty.

WA’s South West coast is set to see another wave energy player, with Protean Wave Energy yesterday announcing plans to launch up to 30 wave energy converter buoys in Bunbury as part of its demonstration wave farm.

OTOC plans to triple the turnover of its surveying businesses as it targets larger east coast firms for acquisition.

Swick Mining Services has won two underground drilling contracts with Independence Group at its Jaguar and Nova mines.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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