22/07/2016 - 06:21

Morning Headlines

22/07/2016 - 06:21

Bookmark

Save articles for future reference.
Morning Headlines

Nats win as BHP dumps camp

BHP Billiton will walk away from its Kurra Village fly-in, flyout camp in Newman, delivering Nationals leader Terry Redman a political win over Premier Colin Barnett in a bitter standoff over the contentious workers camp. The West

Oil Search drops InterOil bid

Oil Search has walked away from the $US2.5 billion takeover battle for InterOil, with managing director Peter Botten saying the acquisition of the explorer by rival ExxonMobil would deliver almost as many benefits to shareholders without the risks. The Fin

Tribunal orders release of freight link documents

The Federal Department of Infrastructure and Regional Development has been ordered to hand over dozens of documents related to the Perth Freight Link after former MP Alannah MacTiernan won a Freedom of Information appeal. The West

Poor testing behind asbestos breach

State ministers responsible for building materials need to tighten the weak testing and certification processes that permitted products containing asbestos to be installed in the Perth Children’s Hospital, industry body Ai Group has said. The Fin

Pumped up shares exit Brexit fears

The Australian sharemarket is at its most expensive point since the global financial crisis, as stocks rally through 5500 points for the first time since August 2015. The Fin

Virgin gears up for flights to China, HK

Virgin Australia is advancing plans to begin flying to China and Hong Kong later next year with the airline increasingly setting its sights on Asia and its burgeoning middle classes. The Aus

Rinehart expands cattle empire with NT stations

Gina Rinehart has praised the Northern Territory as a “jurisdiction which is supportive of agriculture” after buying two cattle stations south-west of Katherine. The West

 

 

The Australian Financial Review

Page 1: The Australian sharemarket is at its most expensive point since the global financial crisis, as stocks rally through 5500 points for the first time since August 2015.

Page 6: Treasurer Scott Morrison has left open the option of lifting the freeze on the Medicare rebate paid to doctors but only if the $2.4 billion cost to the budget could be recouped elsewhere.

Page 9: State ministers responsible for building materials need to tighten the weak testing and certification processes that permitted products containing asbestos to be installed in the Perth Children’s Hospital, industry body Ai Group has said.

Page 15: Oil Search has walked away from the $US2.5 billion takeover battle for InterOil, with managing director Peter Botten saying the acquisition of the explorer by rival ExxonMobil would deliver almost as many benefits to shareholders without the risks.

Metcash has emerged as the front runner to buy Woolworths’ Home Timber & Hardware business after securing competition clearance but has been put on notice to do the right thing by independent retailers or risk losing sales.

Page 17: Diversified miner South32 has beaten production guidance at most of its major assets in the June quarter and confirmed its taste for copper and base metals by farming into prospective acreage in Canada.

Page 18: The gap between the tax owed by companies and what the government actually collects is much lower than the amount that has been speculated, a senior Tax Office official has said.

Page 20: A further drop in liquefied natural gas prices and a maintenance shutdown dragged down Woodside Petroleum’s sales in the second quarter but confidence is building that the worst of the price weakness is over.

Page 21: Uranium miner Paladin Energy has indicated it will sell more of its family jewels in an attempt to solve its debt challenge.

 

 

The Australian

Page 5: Malcolm Turnbull faces further divisions in the Coalition with Queensland Liberal National Party moves brewing to set up a separate party room in Canberra to leverage more ministerial power.

Page 19: Virgin Australia is advancing plans to begin flying to China and Hong Kong later next year with the airline increasingly setting its sights on Asia and its burgeoning middle classes.

Page 21: Asciano’s decision to hand its share of the portside logistics business ACFS back to its business partner has cleared one of the last remaining hurdles to the $12 billion takeover of the ports and rail group with the competition watchdog yesterday dismissing concerns about the deal.

Page 22: As the Oil Search deal team was putting the final touches on an innovative $US2.2 billion-plus ($2.9bn) bid for InterOil designed to bring Papua New Guinea’s two big gas projects together, its initial prospective partner got cold feet over an aspect of the proposal.

Mount Gibson’s iron ore operations in Western Australia’s Mid West continued to do it tough in the June quarter but the group’s cash balance has continued to grow and now stands at $435 million.

 

 

The West Australian

Page 10: The Federal Department of Infrastructure and Regional Development has been ordered to hand over dozens of documents related to the Perth Freight Link after former MP Alannah MacTiernan won a Freedom of Information appeal.

Page 11: An obstetrician at a WA hospital has been suspended after she refused to do an ultrasound on an obese woman considering an abortion — only to discover just before the proposed termination the patient was 25 weeks pregnant.

Page 14: WA Labor has hit back at the Australian Medical Association’s suggestion it accepted donations in return for dropping its opposition to mixed martial arts bouts featuring the cage enclosure favoured by promoter Ultimate Fighting Championship.

Business: BHP Billiton will walk away from its Kurra Village fly-in, flyout camp in Newman, delivering Nationals leader Terry Redman a political win over Premier Colin Barnett in a bitter standoff over the contentious workers camp.

One of the pioneers of genetically modified canola in WA has backed the Productivity Commission call for all States to scrap laws restricting use of the technology in farming.

Shares in Mark Bennett’s S2 Resources surged yesterday on news of high-grade gold hits at the Polar Bear project, north of Norseman.

Gina Rinehart has praised the Northern Territory as a “jurisdiction which is supportive of agriculture” after buying two cattle stations south-west of Katherine.

Two years after stunning the market by joining a $1.4 billion cash bid for Tony Poli’s Aquila Resources, Aurizon Holdings has written down the value of its Pilbara push to nothing.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options