26/07/2016 - 06:17

Morning Headlines

26/07/2016 - 06:17

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Morning Headlines

CBH readies for grain deluge

CBH plans to build emergency storage for up to one million tonnes of grain just months from the start of what is shaping up as WA’s biggest ever harvest. The West

New Woolies CEO shuts store doors on growth strategy

Woolworths chief executive Brad Banducci may be forced to sell more parts of the business to shore up the company’s credit rating after drawing a line under the aggressive growth strategy of his predecessor, Grant O’Brien. The Fin

Impact aims to make $1b solar splash

Former top Labor adviser Ross Garnaut will chair a new $100 million solar income fund by the Liberman family-backed Impact Investment Group, which is targeting a $1 billion investment in solar infrastructure by 2020. The Fin

Renewables’ subsidies put sting into power bills

Renewable energy output in Australia is subsidised by almost $3 billion a year, more than 19 times the amount for generation from fossil fuels, a report by an economic consultancy says.

WA Nats ‘poorly resourced’

Former Nationals leader Warren Truss has defended the WA branch of the party after a disappointing election result, saying it was poorly resourced. The West

Deloitte eyed over Dick Smith

McGrathNicol could go after Dick Smith auditor Deloitte for potential breach of accounting standards after it was appointed as the liquidator of the collapsed electronic retailer. The Fin

 

 

The Australian Financial Review

Page 1: More than four decades of success in lowering tariffs and curbing taxpayer-funded industry featherbedding looks set to be cast aside because of the Turnbull government’s decision to build $50 billion in submarines in South Australia, the Productivity Commission has warned.

Woolworths chief executive Brad Banducci may be forced to sell more parts of the business to shore up the company’s credit rating after drawing a line under the aggressive growth strategy of his predecessor, Grant O’Brien.

Page 4: Treasurer Scott Morrison has used his second international forum in as many days to assure the financial world he was holding the line on proposed changes to superannuation for the sake of the federal budget.

Page 5: Living standards for Australian workers will not return to their mining boom peak until 2018 at the earliest, new modelling shows.

Page 7: McGrathNicol could go after Dick Smith auditor Deloitte for potential breach of accounting standards after it was appointed as the liquidator of the collapsed electronic retailer.

Page 10: Olympic officials have said that all Russian athletes were tainted by the country’s state-run doping system and would not be allowed to compete in the Summer Games unless they convinced individual sports federations of their innocence.

Page 14: Newcrest Mining has reached a long term debt reduction goal, raising the prospect the company could resume dividend payments next month.

Former top Labor adviser Ross Garnaut will chair a new $100 million solar income fund by the Liberman family-backed Impact Investment Group, which is targeting a $1 billion investment in solar infrastructure by 2020.

 

 

The Australian

Page 1: The militant CFMEU allegedly targeted the $126 million site of the Gold Coast Commonwealth Games opening ceremony with a crippling industrial campaign that left tradesmen with as little as two hours of work a day.

Page 6: Renewable energy output in Australia is subsidised by almost $3 billion a year, more than 19 times the amount for generation from fossil fuels, a report by an economic consultancy says.

Page 19: Woolworths boss Brad Banducci will force shareholders in the troubled supermarket giant to swallow more than $4 billion in writedowns as he acts to stem haemorrhaging profits by abandoning former management’s addiction to aggressive new store rollouts, dumping poor acquisitions and sacking 500 support staff.

Page 22: The $6.6 billion Australia Foundational Investment Company yesterday unveiled a full year profit of $265.8 million, which was down nearly 10 per cent year-on-year, mainly due to the previous period’s inclusion of a $32m special dividend from the demerger of South32 from BHP Billiton.

Page 23: Australians love a bargain, and Big W prides itself on being the home of bargains, but for some reason the former are not connecting with the latter, leaving Woolworths’ general merchandise chain in a downward earnings spiral that is showing no signs of slowing down.

Telstra’s chief operating officer, Kate McKenzie, has become a high-profile casualty of the network outages that plagued the incumbent telco’s networks over the past five months.

 

 

The West Australian

Page 1: Recycled sewage plants in Perth’s central and southern suburbs could be built as part of medium-term plans by the Water Corporation to buttress the city’s drinking supplies.

Page 14: Former Nationals leader Warren Truss has defended the WA branch of the party after a disappointing election result, saying it was poorly resourced.

Business: Former iiNet executive Greg Bader has emerged from the rubble of the internet provider to take the reins of Perth online real estate site rent.com.au after its long-standing chief stepped down.

CBH plans to build emergency storage for up to one million tonnes of grain just months from the start of what is shaping up as WA’s biggest ever harvest.

The team behind Aurora Oil & Gas have made an uneventful return to the bourse, with shares in their new vehicle yielding the barest of stag profits yesterday.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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