28/04/2016 - 06:30

Morning Headlines

28/04/2016 - 06:30

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PM plots possible sale of naval shipbuilder

The Turnbull government is mulling a massive restructure of Australia’s shipbuilding industry – including the possible privatisation of ASC – to ensure building naval ships and submarines in Australia is only 10 per cent more expensive than overseas. The Fin

Price falls may spur rate cut

The Reserve Bank may be forced to cut interest rates on the day Treasurer Scott Morrison delivers his first Federal Budget after figures showed prices falling across the country. The West

Highest hopes for livestock vessel

Livestock exporter Wellard is counting on the latest addition to its fleet to provide some smooth sailing after a rocky few months since floating on the Australian Securities Exchange. The West

Alcoa’s cut and shut delivers

Alcoa’s heavy focus on cost cutting and a decision to shut the struggling Port Henry aluminium smelter has paid handsome dividends in Australia where it has recorded a three-fold lift in full-year profit. The West

Digital ID plan for licenses

WA’s first chief information officer wants to turn driver’s licences into “digital IDs” that can be used to access State services such as medical records. The West

Westpac ends lending to foreign buyers

Westpac Bank and all lenders in the Westpac Group, including St George Bank, Bank of Melbourne and BankSA, have ceased lending to all foreign residential property buyers. The Fin

Coca-Cola Amatil feels pressure

Coca-Cola Amatil has slashed the price of key brands such as Coca-Cola and Sprite to boost carbonated soft drink volumes and is discounting its leading Mt Franklin brand in an attempt to regain lost market share in bottled water. The Fin

Perth hospital care costs more

A study of 47 major metropolitan hospitals found Sir Charles Gairdner, Fremantle and Royal Perth were among the top five hospitals paying the most to provide the same care in 2013-14. The West

 

 

The Australian Financial Review

Page 1: The Reserve Bank of Australia might intrude on the Turnbull government’s crucial pre-election budget on Tuesday with an interest rate cut that could trigger alarm about the health of the economy.

The Turnbull government is mulling a massive restructure of Australia’s shipbuilding industry – including the possible privatisation of ASC – to ensure building naval ships and submarines in Australia is only 10 per cent more expensive than overseas.

Australia’s $2.6 trillion funds management industry will be able to offer investment funds directly to Japanese and Korean investors under an international agreement and new legal structures in next week’s federal budget.

Page 3: Westpac Bank and all lenders in the Westpac Group, including St George Bank, Bank of Melbourne and BankSA, have ceased lending to all foreign residential property buyers.

Page 4: The Turnbull government has dusted off Tony Abbott’s scare campaign to launch a full-frontal attack on Opposition Leader Bill Shorten’s carbon reduction policy, even producing an advertisement linking the Labor leader to the perceived dishonesty of his predecessor, Julia Gillard.

Australia will need to invest at least $230 billion in new renewable energy power generation to fill the gaps if coal-fired plants are closed down, the energy sector has warned.

Page 6: A day after French company DCNS won the biggest defence contract in recent Australian history, BlueScope Steel’s hopes were high that it will provide steel for the navy’s 12 new submarines.

Page 9: The superannuation industry, together with the government and regulators, must do more than simply develop retirement products if Australia’s $2 trillion super system is to succeed in providing enough income for retirees.

Page 15: Murray Goulburn will borrow as much as $165 million so it can continue to pay farmers above-market milk rates, despite announcing a major profit downgrade that led to the resignation of chief executive Garry Helou.

Page 18: Coca-Cola Amatil has slashed the price of key brands such as Coca-Cola and Sprite to boost carbonated soft drink volumes and is discounting its leading Mt Franklin brand in an attempt to regain lost market share in bottled water.

Page 21: The resurgent Fortescue Metals Group will use the spoils of the higher iron ore price to repay another $US577 million ($744 million) of debt.

Page 22: Qantas and Vietnam Airlines have unveiled plans to invest $US139 million ($181.5 million) to more than double the size of Vietnamese low-cost carrier Jetstar Pacific’s fleet to 30 aircraft over the next four years.

 

 

The Australian

Page 1: Malcolm Turnbull is facing a “Tampa” test on border protection on the eve of the federal election campaign as Papua New Guinea moves to shut down the Manus Island detention centre, challenging the Prime Minister to outline a new way to enforce the Coalition’s tough line on people-smugglers.

Page 3: Apple has just posted its worst quarter in 13 years but it’s the next quarter that’s going to be pivotal to working out whether Apple has officially peaked.

Page 5: Wasteful public hospitals are still spending almost twice as much as similar centres delivering the same services, according to a new report that reveals some city hospitals have become less efficient despite a nationwide push to contain costs.

Page 8: Former Western Australian treasurer Troy Buswell — the chairsniffing, bra-snapping larrikin who quit politics after smashing his ministerial car in a drunken stupor — has landed a plum job as chief financial officer at listed Perth mining contractor Brierty.

Page 20: Rio Tinto appears set to approve the long-awaited $US4 billion ($5.25bn) expansion of the Oyu Tolgoi copper and gold mine in Mongolia as early as next week, in a move analysts say could add $US4.7bn of value to the company and pave the way for further expansion.

Iron ore executives have welcomed moves by Chinese authorities to cool the trading frenzy behind the recent wild swings in commodity prices, even as those efforts appeared to soften the price of their products.

Page 23: The biggest livestock carrier ever built was launched yesterday in a north China shipyard by Australian-listed live export company Wellard.

 

 

The West Australian

Page 1: A cable car from Kings Park to Elizabeth Quay is technically feasible and could be built and operated without taxpayer funding, a government study has found.

WA’s first chief information officer wants to turn driver’s licences into “digital IDs” that can be used to access State services such as medical records.

Page 6: The Reserve Bank may be forced to cut interest rates on the day Treasurer Scott Morrison delivers his first Federal Budget after figures showed prices falling across the country.

Page 11: A study of 47 major metropolitan hospitals found Sir Charles Gairdner, Fremantle and Royal Perth were among the top five hospitals paying the most to provide the same care in 2013-14.

Page 12: Federal Labor’s plans to introduce an emissions trading scheme that leads to closing coal-fired power plants has drawn fire from WA’s coal mining hub.

Page 15: The Statewide rollout of the National Disability Insurance Scheme in WA has been put off until July 1 next year — a year later than in other States and Territories.

Business: Alcoa’s heavy focus on cost cutting and a decision to shut the struggling Port Henry aluminium smelter has paid handsome dividends in Australia where it has recorded a three-fold lift in full-year profit.

The State Government’s $3 billion “Gov Next” ICT plan will be revealed next week, with WA chief information officer Giles Nunis giving guarantees that smaller ICT businesses will remain in the mix for contracts.

Risk money is flooding back into the exploration and development end of the resources sector in selected commodities, as local explorers tap the market for more than $90 million.

Livestock exporter Wellard is counting on the latest addition to its fleet to provide some smooth sailing after a rocky few months since floating on the Australian Securities Exchange.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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