03/06/2016 - 06:30

Morning Headlines

03/06/2016 - 06:30

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Morning Headlines

Cautious South32 not interested in chasing thermal coal bargains

South32 chief executive Graham Kerr has ruled out bidding for bargain basement thermal coal assets and admitted that commodity prices fell much further than the company expected. The Fin

Super changes to hit 1.3m

Up to 1.3 million people, or 9 per cent of superannuation savers, will be hit by superannuation changes in this year’s budget, challenging the government’s assertion that only 4 per cent would be affected. The Fin

OECD warns of ‘destabilising’ end to Australia’s property boom

Australia may be on the cusp of a ‘‘dramatic and destabilising’’ end to the housing boom rather than a hoped for soft landing because of the apartments building boom, the Organisation for Economic Cooperation and Development said. The Fin

Colin Barnett shrugs off Liberal leadership worries

Colin Barnett says backbencher Nathan Morton should not have got involved in talks about overthrowing him as Premier and should be happy a rail line is being built to his Forrestfield electorate. The West

NAB set to face claims of rate-rigging

National Australia Bank is the latest bank set to be dragged into rate-rigging claims, with the Australian Securities & Investments Commission preparing to take legal action against the $70 billion company. The Fin

Shoppies wedge Shorten on penalties

Bill Shorten is facing pressure from small business to denounce the nation’s biggest union over “treachery” in its treatment of thousands of low-paid workers, challenging the Opposition Leader to rebuke one of his key allies in the midst of an election campaign. The Aus

Recycled sewage plan to fight salt

The Water Corporation could use treated sewage to “shield” aquifers in Perth’s western suburbs from salt water as the ocean encroaches into the city’s groundwater supplies. The West

Kidman rallies on lithium hopes

Shares in Kidman Resources were set alight today after it reported “spectacular” lithium assays at its Mt Holland project near Southern Cross. The West

 

 

The Australian Financial Review

Page 1: Oliver Curtis, the son of the founder of Lynas Corp, was found guilty of participating in an insider trading conspiracy nine years ago with his best friend John Hartman.

Up to 1.3 million people, or 9 per cent of superannuation savers, will be hit by superannuation changes in this year’s budget, challenging the government’s assertion that only 4 per cent would be affected.

Page 3: Australia may be on the cusp of a ‘‘dramatic and destabilising’’ end to the housing boom rather than a hoped for soft landing because of the apartments building boom, the Organisation for Economic Cooperation and Development said.

Page 7: The Greens Party plans to use any influence it has over the next government to force the big four banks to sell their wealth divisions.

Page 8: Lenders are discreetly imposing tough new borrowing conditions that are reducing the amount property buyers qualify for by thousands of dollars, excluding many buyers from the market who qualified a few months ago, according to Mortgage Choice, the listed broker.

Page 12: Two Australian tech start-ups are launching an over-the-counter platform for selling bitcoin, making it available to everyday consumers and providing online retailers and the newsagents offering the service more income streams.

Page 13: A hush will fall over our communal desks, with phones and office chatter banished to separate rooms within the next four years, workplace design experts predict.

Page 14: The economic cost of the failure of the Basslink power cable is more than $560 million and rising, but the remedy to avoid a repetition doesn’t lie in an expensive second cable, according to consultancy EnergyQuest.

Page 15: More than 18 months after Apple Pay took the US by storm, the smartphone giant has made only a small dent in the global payments market, snagged by technical challenges, low consumer take-up and resistance from banks.

Page 17: National Australia Bank is the latest bank set to be dragged into rate-rigging claims, with the Australian Securities & Investments Commission preparing to take legal action against the $70 billion company.

Page 19: Qantas chief executive Alan Joyce says he is unfazed by Virgin Australia’s new alliance with Chinese conglomerate HNA Group, saying his airline will ‘‘play its own game’’ and grow in the region through its existing partnerships.

South32 chief executive Graham Kerr has ruled out bidding for bargain basement thermal coal assets and admitted that commodity prices fell much further than the company expected.

Page 20: More resources exploration companies are likely to enter administration if the proposed ASX listing rule changes are implemented, accounting and advisory firm BDO has warned.

Page 21: Australian Securities and Investments Commission chairman Greg Medcraft has told a large gathering of stockbrokers the regulator has concerns about how some research and broking firms are making sure their clients’ best interest are protected in transactions, and guarding against leaks and insider trading.

 

 

The Australian

Page 1: Independent senator Nick Xenophon has warned he will be ruthless in using his numbers in the upper house to impose his agenda on the next government, including that Australia withdraw from free trade deals at the heart of Malcolm Turnbull’s growth strategy.

Page 4: Japan has slapped a temporary ban on the import of live cattle from Australia after several dairy cows flown there from Victoria last month tested positive for the presence of harmful gut bacteria that cause bovine Johne’s disease.

Page 6: The federal government faces a new fight over its tax increases on superannuation as experts warn that the changes would hurt more than twice as many people as claimed, even though more people would be better off overall.

Page 8: Bill Shorten is facing pressure from small business to denounce the nation’s biggest union over “treachery” in its treatment of thousands of low-paid workers, challenging the Opposition Leader to rebuke one of his key allies in the midst of an election campaign.

Page 19: The spurned suitors behind a $2.7 billion takeover offer for laboratory analysis group ALS were last night contemplating whether to walk away altogether after being swiftly rejected by their target.

Page 21: A legal challenge to the $9 billion takeover of Asciano will extend beyond the shareholder vote today as the judge hearing the case warned there was “a high probability’’ an injunction halting the deal could be given.

Uber and Westpac will today announce a partnership that will see the bank’s customers receive discounted Uber rides and enable its employees to use the ride-sharing service for business travel.

Page 26: Aged-care market darlings Japara Healthcare, Regis Aged Care and Estia Health had almost $250 million wiped off their market values after being hit by a slew of analyst downgrades on the back of concerns about the tougher regulatory regime and lower funding for the sector.

 

 

The West Australian

Family-owned chain Kitchen Warehouse is set for an east coast expansion following a merger with online retailer Kitchenware Direct.

The Water Corporation could use treated sewage to “shield” aquifers in Perth’s western suburbs from salt water as the ocean encroaches into the city’s groundwater supplies.

Colin Barnett says backbencher Nathan Morton should not have got involved in talks about overthrowing him as Premier and should be happy a rail line is being built to his Forrestfield electorate.

The Chinese-owned company developing farms near Kununurra has put its hand up to develop land over the Northern Territory border under a number of conditions.

Shares in Kidman Resources were set alight today after it reported “spectacular” lithium assays at its Mt Holland project near Southern Cross.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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