29/07/2016 - 06:18

Morning Headlines

29/07/2016 - 06:18

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Morning Headlines

Nalder’s transport blueprint

New train lines and freeways, an inner-city subway and more bridges across the river — including some specifically for bikes — are expected to be part of the Barnett Government’s long-awaited transport plan to be released today. The West

Chevron turns to US parent for cash boost

Chevron, struggling to complete construction of more than $100 billion worth of LNG projects in WA, has raised almost $4 billion in new equity from its US parent in just six months to survive its giant cash squeeze. The West

Lowy urges control of immigration

One of Australia’s most successful immigrants, businessman Frank Lowy, has warned that immigration must be controlled by the government rather than being a reaction to global upheavals. The Aus

Medibank to use data in cost war

Medibank Private will use data showing wild variations in the cost and quality of medical care to push an agenda of greater collaboration in health and force hospitals and surgeons to take responsibility for improving affordability. The Fin

Workplace laws rigid and out of date: report

Australia’s rigid and centralised employment laws are not suited to the changing nature of work, globalisation, automation and the ageing workforce, according to a new report. The Fin

Samarco dam disaster swells BHP’s exceptional items bill

BHP Billiton looks set to record more than $US7 billion ($9.4 billion) worth of exceptional items when it reports financial results next month, after the miner revealed more than $US1 billion of further charges on Thursday. The Fin

Virgin posts $225m full-year loss, but it’s not all turbulence

Virgin Australia has doubled its full year losses to $225 million after absorbing the bulk of the restructuring charges and impairments from a three year cost-saving program as it showed early signs passenger numbers are improving in a subdued market. The Fin

Rival Pilbara claim struck out

A Pilbara indigenous group that has waged war with Fortescue Metals Group for years has claimed a legal victory after the Federal Court threw out a rival native title claim over a swath of land that includes one of the company’s iron ore mines. The Aus

 

 

The Australian Financial Review

Page 1: Kevin Rudd’s quest to lead the world is in the hands of Malcolm Turnbull, who must make a ‘‘captain’s call’’ after a severely divided cabinet was unable to agree on whether to nominate the former prime minister as a candidate for United Nations Secretary-General.

For almost a decade under swashbuckling chief executive Mike Smith, ANZ Banking Group was the most enthusiastic proponent of Australian business engagement with Asia.

Page 5: Westpac chief executive Brian Hartzer wants the bank’s leadership team to be closer to 20 per cent Asian rather than 13 per cent, to look more like the rest of the bank’s workforce.

Page 7: Prime Minister Malcolm Turnbull has announced that the royal commission on child detention will focus on failings in the Northern Territory’s youth justice system back to 2006.

Page 8: Medibank Private will use data showing wild variations in the cost and quality of medical care to push an agenda of greater collaboration in health and force hospitals and surgeons to take responsibility for improving affordability.

Page 10: Australia’s rigid and centralised employment laws are not suited to the changing nature of work, globalisation, automation and the ageing workforce, according to a new report.

Page 17: Macquarie Group’s chief executive Nicholas Moore says the effect of the Brexit vote has a ‘‘long way’’ to play out, even as he asserted the company’s British and European business units were so far faring well.

BHP Billiton looks set to record more than $US7 billion ($9.4 billion) worth of exceptional items when it reports financial results next month, after the miner revealed more than $US1 billion of further charges on Thursday.

Page 19: Con Sciacca, the chief executive of big independent supermarket chain Foodland, says many of his 119 stores are noticing an increasing number of customers having several ‘‘meatless meals’’ during the week, and it’s helping to drive strong growth in the fresh fruit and vegetable sections.

Virgin Australia has doubled its full year losses to $225 million after absorbing the bulk of the restructuring charges and impairments from a three year cost-saving program as it showed early signs passenger numbers are improving in a subdued market.

 

 

The Australian

Page 1: One of Australia’s most successful immigrants, businessman Frank Lowy, has warned that immigration must be controlled by the government rather than being a reaction to global upheavals.

Page 9: The Indian government is preparing to back an Australian class action seeking to sell the Gold Coast Sheraton Mirage resort and two luxury homes to refund victims of the subcontinent’s $10 billion Pearls Ponzi scam.

Service providers to the National Disability Insurance Scheme have been unpaid while clients have been forced to cancel their appointments as the $22 billion program falls into disarray after a technology bungle.

A Pilbara indigenous group that has waged war with Fortescue Metals Group for years has claimed a legal victory after the Federal Court threw out a rival native title claim over a swath of land that includes one of the company’s iron ore mines.

Page 21: Corporate Australia must become less wary of risk-taking and reembrace a long tradition of creativity and innovation to achieve business success, News Corp Australasia executive chairman Michael Miller says.

Page 25: While Australians along the east coast are rubbing their hands together to keep warm as temperatures plummet from Adelaide to southern Queensland, Myer boss Richard Umbers has been rubbing his hands with glee as shoppers scoop up his winter stock.

Page 27: The exploration drill bit has returned as a sure-fire way to add market value thanks to the rise to near record levels of the Australian dollar gold price, with Millennium Minerals one of the latest miners to benefit from exploration at its Nullagine operation in the Pilbara.

Page 30: Australia’s largest residential real estate agents, Ray White, has dramatically stepped up its exposure to the booming New Zealand region with the rebranding of Leaders Wellington Group.

 

 

The West Australian

Page 3: The 100,000 Western Australians who manage their own superannuation have been rocked by research showing half will be hit by the Turnbull Government’s tinkering with nest eggs.

Page 4: Kevin Rudd’s bid to head the United Nations is in the hands of his one-time political foe Malcolm Turnbull after Federal Cabinet angrily split on whether to formally back his nomination.

Page 6: The private operator of WA’s new women’s remand and reintegration prison will be the first in the State to get incentive payments for preventing prisoners from reoffending.

Page 7: The former chief executive of Dowerin Shire stole almost $600,000 to feed a gambling addiction after getting un-vetted access to council money through his credit card.

Page 9: New train lines and freeways, an inner-city subway and more bridges across the river — including some specifically for bikes — are expected to be part of the Barnett Government’s long-awaited transport plan to be released today.

Page 13: HBF, Bupa and nib, which have six million members, believe the industry-wide digital platform, when fully functional, will let patients find out about out-of-pocket expenses upfront.

Page 14: A half share of Kalgoorlie’s iconic Super Pit gold mine is up for sale after the soaring gold price prompted Canada’s Barrick Gold to put its stake on the market.

Page 20: Perth not-for-profit childcare centres fear they will have to lift fees or close under a State Government plan to stop subsidising their accommodation.

The number of beds in Australian private hospitals is rising at almost three times the rate of those in public hospitals, according to a report.

Business: WA’s leading dairy processors have warned farmers there is no quick fix for supply problems in the industry during an emotion charged meeting in Busselton.

The DomGas Alliance of WA’s biggest gas users has welcomed a move by Canberra to axe plans to extend the life of offshore petroleum retention leases to up to 15 years, describing it as a “win for common sense”.

Chevron, struggling to complete construction of more than $100 billion worth of LNG projects in WA, has raised almost $4 billion in new equity from its US parent in just six months to survive its giant cash squeeze.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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