15/04/2016 - 06:10

Morning Headlines

15/04/2016 - 06:10

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LNG giants seek service link

Woodside Petroleum has approached Chevron, Conoco-Phillips and Inpex about coordinating maintenance and turnaround services across LNG sites in the North West and Darwin as a way to save money and avoid operational problems. The West

Potato rule over

WA’s outdated potato marketing regime will be scrapped from June 30 after years of campaigning by Spudshed owner Tony Galati and others. The West

Sandfire bullish despite downturn

Sandfire Resources managing director Karl Simich says the resources downturn has made it challenging for the copper miner to generate investor excitement in its exploration successes but is presenting opportunities to consider acquisitive expansion. The Fin

Patrick threatens lock-out

Patrick Stevedores has threatened to lock wharfies out of its terminals across the nation as one of several possible penalties if the Maritime Union of Australia does not accept its final pay offer by 5pm today. The West

Blackmores CEO slams impatient investors

Blackmores chief executive Christine Holgate, who is travelling with the prime minister in China, is annoyed with investment analysts who follow her company. The Fin

NSR sales up, costs drop

Northern Star Resources has boasted another record quarterly cash flow result of $103 million for the March quarter as it lifts production and sales and cuts costs. The West

More jobs take heat off Reserve Bank

Prospects of another Reserve Bank of Australia interest rate cut have been lowered after the jobless rate unexpectedly fell in March to a 2 1/2-year low, helped by a surge in part-time work. The Fin

Web-based baby formula exporters sweat on China’s OK

Australia’s infant formula producers have less than two years to gain approval to sell their product into China via websites, as the Chinese government’s crackdown on booming sales of offshore milk expands. The Aus

 

 

The Australian Financial Review

Page 1: Beijing has used Malcolm Turnbull’s first visit to China as Prime Minister to warn Australia’s economic interests will be harmed unless it softens its South China Sea policy.

Page 3: More than 20 mortgage lenders have discreetly increased loan rates in the past six weeks with other major banks expected to make repayment announcements over coming weeks, according to analysis of rate changes.

Page 5: The ABC agreed to comply with China’s tough censorship laws when it opened a website promoting Australia inside the country in 2015, a decision that has led to criticism that the broadcaster is refusing to publish articles critical of the Chinese government.

Page 7: Prospects of another Reserve Bank of Australia interest rate cut have been lowered after the jobless rate unexpectedly fell in March to a 2 1/2-year low, helped by a surge in part-time work.

Page 8: Bring back inheritance taxes and the carbon tax, increase petrol excise, land tax, company tax and income tax – and axe dividend imputation and negative gearing.

Page 11: Opposition Leader Bill Shorten backed away from suggestions he would require Australian-made steel to be used in government contracts while promising policies to protect the struggling industry.

Stevedoring company Patrick has moved to bring its damaging dispute with the maritime union to a head by cutting a pay offer and giving the union until Friday to accept.

Page 15: Blackmores chief executive Christine Holgate, who is travelling with the prime minister in China, is annoyed with investment analysts who follow her company.

Page 17: Whitehaven Coal managing director Paul Flynn says the decision of Peabody, the world’s biggest private coal miner, to seek bankruptcy protection, was ‘‘troubling’’ but would lend some support to the industry by pushing tonnes from the market.

Page 26: Sandfire Resources managing director Karl Simich says the resources downturn has made it challenging for the copper miner to generate investor excitement in its exploration successes but is presenting opportunities to consider acquisitive expansion.

Drones flying around offshore oil and gas platforms detecting leaks, unmanned underwater vehicles checking well equipment and ‘‘intelligent pipelines’’ able to collect data for predictive analysis are likely to become commonplace in the petroleum industry within the next few years, saving companies tens of millions of dollars a year.

Shell Australia chairman Andrew Smith is set to call on LNG industry leaders to drop their egos and get serious about collaboration to reduce costs, deliver better returns and improve competitiveness.

 

 

The Australian

Page 1: Scott Morrison has stared down a warning from one of the world’s most powerful ratings agencies, after it questioned the government’s strategy to fix the budget and warned that continued increases in national debt would risk the nation’s AAA credit rating.

A “digital revolution” to transform the federal bureaucracy could save at least $27 billion for taxpayers, lift productivity and improve transparency of government spending.

Page 4: The jurisdiction of the proposed Australian Building and Construction Commission would be expanded to cover all industries and unions under a plan drawn up by Transparency International.

Page 6: Chinese conglomerate Shanghai Pengxin may have hit a major roadblock in its bid to acquire Australia’s S. Kidman Co pastoral empire, with Scott Morrison expected to delay a ruling on the bid until after the federal election.

Page 19: Australia’s infant formula producers have less than two years to gain approval to sell their product into China via websites, as the Chinese government’s crackdown on booming sales of offshore milk expands.

Page 21: Wesfarmers chief executive Richard Goyder believes the conglomerate’s struggling discount retail chain, Target, needs to be headquartered closer to the Melbourne CBD to be better plugged into the retail sector.

Page 28: Virgin Australia has drafted in former Nine Entertainment chief financial officer Simon Kelly to work on its capital structure review, as major shareholder Air New Zealand seeks to offload its $330 million stake in the airline.

 

 

The West Australian

Page 1: WA’s outdated potato marketing regime will be scrapped from June 30 after years of campaigning by Spudshed owner Tony Galati and others.

Page 9: The Federal Government will move to deliver 800 sacked Queensland Nickel workers $74 million in entitlements while targeting businessman and MP Clive Palmer to repay the cash.

Cottesloe beach could have a pier, restaurant and shark-proof swimming enclosure at the end of the groyne in time for summer next year.

Business: Patrick Stevedores has threatened to lock wharfies out of its terminals across the nation as one of several possible penalties if the Maritime Union of Australia does not accept its final pay offer by 5pm today.

Underground mining contractor’s Byrnecut Australia’s net profit has fallen by a third, as tight operating margins now typical in the industry cut into the bottom line.

German drinkers from today can savour the world’s first gluten-free barley beer, thanks to Australian inventors and growers.

Northern Star Resources has boasted another record quarterly cash flow result of $103 million for the March quarter as it lifts production and sales and cuts costs.

Woodside Petroleum has approached Chevron, Conoco-Phillips and Inpex about coordinating maintenance and turnaround services across LNG sites in the North West and Darwin as a way to save money and avoid operational problems.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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