18/04/2016 - 06:37

Morning Headlines

18/04/2016 - 06:37

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More Perth auctions as house prices fall

Perth real estate agents have pushed the rate of auctions to a near 15-year high in a counter-intuitive attempt to lower vendor price expectations and sell homes in a city awash with for sale signs. The Fin

Woodside takes gas search to Bonaparte Basin

Woodside Petroleum has shifted its exploration focus to the Bonaparte Basin west of Darwin after agreeing to a $32 million work program. The West

Samsung seizes $68m bond

A judge has allowed Roy Hill iron ore project manager Samsung C&T to seize $68 million in security bonds from Spanish manufacturer Duro Felguera. The West

BHP steps up JV controls

BHP Billiton chief executive Andrew Mackenzie is looking to unwind mining ventures that it or its partners have no operational control over in a move that could see as much as $US22.5 billion ($29bn) worth of Latin American mining assets reshuffled. The Aus

Labor levels as election looms

Support for Malcolm Turnbull and his government has fallen sharply and Labor has moved into contention on the eve of a critical week of Parliament that could trigger a double dissolution election for July 2. The Fin

It’s a very good year for Chinese agri adventures

Chinese purchases of Australian farms and agribusiness interests in the past three months have already surpassed the boom year of 2015, when agriculture rose to become a mainstream target for Chinese investors. The Aus

Bunnings to lift the wages bar in Britain

Wesfarmers chief executive Richard Goyder has backed a decision by Bunnings to extend the national living wage to workers aged under 25 at its newly acquired British hardware business Homebase. The Aus

 

 

The Australian Financial Review

Page 1: Support for Malcolm Turnbull and his government has fallen sharply and Labor has moved into contention on the eve of a critical week of Parliament that could trigger a double dissolution election for July 2.

The world’s two largest mining companies have urged Britain to remain part of the European Union, arguing that a ‘‘Brexit’’ could damage the global economy and make London a less attractive destination for Australian businesses.

Page 3: Perth real estate agents have pushed the rate of auctions to a near 15-year high in a counter-intuitive attempt to lower vendor price expectations and sell homes in a city awash with for sale signs.

Page 8: Collapsed global commodity prices for metals, paper and crude oil mean the materials households and businesses dutifully place on curb sides are increasingly not worth the cost of collecting.

Page 11: The new administrators to collapsed steel company Arrium will on Monday launch urgent legal action to stop United States banking giant Morgan Stanley from scuppering a rescue deal between Arrium, its lenders and the union representing workers.

Page 13: Rio Tinto is putting the sale of its remaining Australian coal assets on ice for up to two years as it struggles to find a buyer prepared to pay a premium in a market awash with assets.

Virgin Australia chief executive John Borghetti could have the ironic result of the airline boss receiving a payout of around $8 million if Singapore Airlines makes a successful takeover bid.

Australia’s two casino rivals look set to battle for the lucrative Chinese tourist market, with The Star Entertainment Group in talks to sign a deal with state-owned giant China Travel Service ahead of a potential stealth attack by Crown Resorts on its Queensland casino monopoly.

Page 16: An unexpected jump in Chinese steel production that has bolstered iron ore prices is unlikely to last and miners also are likely to be hit by rising costs as the Australian dollar strengthens and oil prices jump.

Telstra has bolstered its war chest with the $US1.6 billion ($2.1 billion) sale of almost all of its stake in Chinese car website Autohome as new CEO Andy Penn offloads non-core investments.

Page 25: Rupert Murdoch’s News Corporation and Telstra have postponed their planned $8 billion initial public offering of Foxtel until 2017 due to the sheer volume of work that needs to be done to prepare their structurally challenged pay television joint venture for a sharemarket listing.

 

 

The Australian

Page 2: Chinese purchases of Australian farms and agribusiness interests in the past three months have already surpassed the boom year of 2015, when agriculture rose to become a mainstream target for Chinese investors.

Page 3: Nine out of 10 government schools are siphoning money from maintenance and library budgets to help students with disabilities, Australia’s biggest schooling survey shows.

Page 6: Federal cabinet’s National Security Committee meets tomorrow partly to begin formal consideration of the choice for a partner to build 12 new submarines.

Page 17: BHP Billiton chief executive Andrew Mackenzie is looking to unwind mining ventures that it or its partners have no operational control over in a move that could see as much as $US22.5 billion ($29bn) worth of Latin American mining assets reshuffled.

The Foreign Investment Review Board should become a statutory authority with fully transparent processes and accountability to help more foreign capital flow into northern Australia, according to the boss of the nation’s largest privately owned cattle company.

A federal proposal to allow businesses to import specialist workers for up to a year without getting a 457 visa has been abandoned as the government focuses on other options to overhaul skilled migration visas to boost competitiveness.

Wesfarmers chief executive Richard Goyder has backed a decision by Bunnings to extend the national living wage to workers aged under 25 at its newly acquired British hardware business Homebase.

Page 19: Carsales.com.au chief executive Greg Roebuck has one rule of competition as technological innovation drives change at a speed which is difficult to comprehend: “Stay paranoid”.

Page 23: Nine Network is set to overhaul its risk management procedures across news and current affairs by introducing new rules to prevent another crisis.

 

 

The West Australian

Page 1: Fire Commissioner Wayne Gregson has made the case for taking over responsibility for WA’s volunteer bushfire brigades in what would be the biggest shake-up of rural emergency services in decades.

Page 4: Malcolm Turnbull’s biggest gamble looks almost certain to deliver the Government its early election trigger, setting the country on a course to a July 2 poll.

Page 5: The RAC has called for a trial of “self-enforcing” 30km/h speed zones on suburban streets in a bid to create a safer environment for pedestrians and cyclists.

Page 6: At least 550 teenagers have been taken to the emergency department at Princess Margaret Hospital in the past five years after deliberately overdosing on pharmaceutical substances.

Page 9: Perth doctors say it is time to “close down the boys’ club” that still allows lewd and demeaning comments to be made about women in their profession.

Page 10: The WA economy is facing an even deeper downturn, one of the nation’s leading analysts has warned, with the State’s finances at grave risk.

Business: A judge has allowed Roy Hill iron ore project manager Samsung C&T to seize $68 million in security bonds from Spanish manufacturer Duro Felguera.

Woodside Petroleum has shifted its exploration focus to the Bonaparte Basin west of Darwin after agreeing to a $32 million work program.

Chinese conglomerate Legend Holdings has taken on $180 million in debt to fund its buyout of most of the Kailis Bros’ seafood business and provide cash for growth projects.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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