06/04/2016 - 06:41

Morning Headlines

06/04/2016 - 06:41

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State rail contract in shares inquiry

Australia’s corporate watchdog is investigating Transport Minister Dean Nalder’s office and some of WA’s most senior public servants over suspected insider share trading linked to the billion-dollar-plus Forrestfield airport rail link project. The West

Pilbara Minerals plans $80m capital raising

Lithium market darling Pilbara Minerals has pulled the trigger on one of the largest equity raisings from the resources sector in recent years, cashing in on the growing investor interest in lithium and its potential applications in the rapidly expanding electric vehicle market. The Aus

Stadium team selected to build new museum

The State Government has selected Perth Stadium builder Brookfield Multiplex as preferred candidate to build the $428.3 million WA Museum. The West

Newmont boss not hyped by gold run

Potato growers will get a last-minute hearing from Agriculture Minister Dean Nalder before Cabinet considers a proposal to end the saga over WA’s regulated marketing system. The West

Student loans face budget overhaul

The federal government will put university loans under the microscope as part of plans to overhaul $9.2 billion in tertiary education savings as a new report highlights the threat to the budget from swelling student debt. The Aus

Scandals put spotlight on bank ethics and culture

David Murray, who led the government’s financial system inquiry, has launched a scathing attack on the corporate watchdog for championing the idea that company directors should be held legally responsible for poor corporate culture. The Fin

Port sale hopes on legal change

Treasurer Mike Nahan is considering changes to the legislation that will pave the way to privatising Fremantle port in an attempt to appease the WA Nationals. The West

 

 

The Australian Financial Review

Page S1: David Murray, who led the government’s financial system inquiry, has launched a scathing attack on the corporate watchdog for championing the idea that company directors should be held legally responsible for poor corporate culture.

Page S3: Social media behemoth Facebook is looking to partner with Australian banks to explore opportunities in mobile banking, in a move that could radically change the face of retail banks.

Page 1: Westpac Banking Corp generated millions in profits manipulating a key market interest rate over two years, according to law suit filed by the corporate regulator.

BHP Billiton could increase production at Olympic Dam much more quickly and cheaply than previously estimated in time to exploit a predicted global copper shortfall.

Page 4: Labor is accusing the Turnbull government of running for cover amid confirmation the House of Representatives will sit for as few as five days over the three-week special period for which Parliament was recalled to set the scene for a double dissolution election.

Page 13: Former Westpac chief executive David Morgan is returning to the Australian financial services market after an eight year absence with the bold ambition of helping self-managed super funds to end their chronic lack of diversification in equities.

Page 15: An independent expert’s report has warned that beleaguered iron ore producer Atlas Iron is likely to become insolvent if a company-saving debt-for-equity deal is not approved by lenders and shareholders in April.

Officeworks’ cavernous stores may become even larger as the office supplies category-killer adds new products and services such as drones and 3D printing, and expands its range.

Page 16: Moody’s has put Virgin Australia’s credit rating on review for a possible downgrade, amid ongoing uncertainty over the airline’s capital structure, the level of shareholder support and its slower-than-expected debt reduction.

Page 19: Supply of iron ore from Australia is surging once more in a sign that stronger than expected iron ore prices may be a temporary phenomenon.

 

 

The Australian

Page 1: Bill Shorten has been rebuked by the Australian Workers Union, which he headed before entering federal politics, for Labor’s failure to do enough to support the domestic steel industry following the crisis confronting South Australia’s Arrium operation.

Page 5: The federal government will put university loans under the microscope as part of plans to overhaul $9.2 billion in tertiary education savings as a new report highlights the threat to the budget from swelling student debt.

Page 7: The Australian Competition & Consumer Commission will investigate competition between buyers of cattle and suppliers of processed meat to customers, among other issues, as it responds to growing concerns among farmers and others in the agribusiness sector.

Page 20: A Supreme Court judge presiding over the legal battle between billionaire Bruce Gordon’s WIN Corporation and its metropolitan affiliate the Nine Network said the arrival of live streaming in regional areas “turned out to be a plague” on the regional broadcaster.

Page 21: James Packer’s Macau investment faces further revenue falls with reports gaming business has dried up after Chinese New Year.

Lithium market darling Pilbara Minerals has pulled the trigger on one of the largest equity raisings from the resources sector in recent years, cashing in on the growing investor interest in lithium and its potential applications in the rapidly expanding electric vehicle market.

Page 23: The Commonwealth Bank may be the only big four bank that is ready for APRA’s tough new net stable funding ratio rules, according to an analysis that shows National Australia Bank lagging its rivals in the fresh stability stakes.

 

The West Australian

Page 1: Australia’s corporate watchdog is investigating Transport Minister Dean Nalder’s office and some of WA’s most senior public servants over suspected insider share trading linked to the billion-dollar-plus Forrestfield airport rail link project.

Page 3: From Kerry Packer to Christopher Skase, almost 1.3 million Australians — dead or alive — have money ready to be claimed from the Federal Government.

WA is about to get its first taste of an apple that is dark, delicious and destined to catch the eye of consumers around the world.

Page 4: Durack MP Melissa Price wants only dole recipients to have their benefits paid into the Federal Government’s cashless welfare card in Geraldton if it is chosen to be a test site.

Treasurer Mike Nahan is considering changes to the legislation that will pave the way to privatising Fremantle port in an attempt to appease the WA Nationals.

Newly installed Health Minister John Day insists the new Perth Children’s Hospital will open this year.

Page 7: Doctors are furious that the Health Department is paying to have ambulance officers based in emergency departments to reduce ramping when hospitals face staff and budget cuts.

Page 10: The State Government has selected Perth Stadium builder Brookfield Multiplex as preferred candidate to build the $428.3 million WA Museum.

Page 14: WA motorists may soon have to leave at least a one-metre gap while overtaking cyclists after Police Minister Liza Harvey appeared to back the proposal.

Page 16: The Water Corporation could double the size of its new water recycling plant to avert possible shortages.

Business: Potato growers will get a last-minute hearing from Agriculture Minister Dean Nalder before Cabinet considers a proposal to end the saga over WA’s regulated marketing system.

Newmont Mining’s new Asia-Pacific boss Stephen Dumble says his experience working in embattled commodities such as coal and alumina is a reminder that even though gold is enjoying a bull run “this industry will be in tougher times”.

A trial pitting Rio Tinto against the receivers for engineering company Forge Group in a dispute over hundreds of millions of dollars has got under way in the Supreme Court.

The privately owned company campaigning to corporatise CBH has hit out at the giant cooperative’s $750 million network strategy and vowed to keep fighting for a grower vote on its GrainCorp-backed offer.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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