01/08/2016 - 06:20

Morning Headlines

01/08/2016 - 06:20

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Morning Headlines

Weak US pressures RBA to cut

A faltering economic recovery in the US is set to place further pressure on the Reserve Bank to cut interest rates when it meets on Tuesday, amid a fresh pulse of global monetary easing that is forcing up the exchange rate and inflating asset prices. The Fin

Barnett confident of holding WA top job

Western Australia’s Premier, Colin Barnett, is adamant he has the overwhelming support of his colleagues and does not anticipate an ambush for the top job when the Liberal Party holds its annual ‘‘love-in’’ on Tuesday. The Fin

Mining bosses prepared for the next boom

Improving commodity prices, led predominantly by gold, have mining executives tentatively welcoming a new boom, but they say this time around they won’t plunder it. The Fin

Fortescue vows tug-of-war with BHP

Fortescue Metals Group plans to compete with BHP Billiton for the contestable towage market in Port Hedland, but has vowed not to merely replicate the existing service. The Fin

No more driving by 2030: Telstra

All vehicles on Australian roads will be driverless by 2030 and road builders must begin work to create smart roads that interact with them, says Telstra chief scientist Hugh Bradlow. The Aus

Brockman’s new bid to railroad Fortescue

Iron ore junior Brockman Mining, facing three years of court action to date on attempts to access Fortescue Metals Group’s rail network, is taking a leaf out of the iron ore major’s book. The Aus

Barnett out to fix watchdog

Colin Barnett has threatened to rebuild the Corruption and Crime Commission should he be re-elected, saying its legislation. The West

No delays in Gorgon trains’ start-up: Chevron

Chevron says Gorgon’s troubled start-up has not delayed the schedule for the $US54 billion development’s second and third processing trains to begin LNG production from as early as October. The West

 

 

The Australian Financial Review

Page 1: A faltering economic recovery in the US is set to place further pressure on the Reserve Bank to cut interest rates when it meets on Tuesday, amid a fresh pulse of global monetary easing that is forcing up the exchange rate and inflating asset prices.

A trade agreement with Indonesia has been elevated to the top of the Turnbull government’s economic agenda amid uncertainty over whether the Trans-Pacific Partnership will make it through the US Congress.

Page 3: Competition regulator Rod Sims has called for more powers to scrutinise collusive conduct by governments after being hamstrung in his dealings with the NSW government on port privatisations.

Page 5: Less than 1 per cent of companies have agreed to a tax disclosure code that the government has warned will become mandatory if take-up is too low.

Page 6: The Turnbull government will this week release a request for tender for one of the most significant spends on the machinery of government in years: the job of integrating the massive welfare and Australian Taxation Office IT systems, as part of a $1 billion overhaul of ageing infrastructure.

Page 7: Western Australia’s Premier, Colin Barnett, is adamant he has the overwhelming support of his colleagues and does not anticipate an ambush for the top job when the Liberal Party holds its annual ‘‘love-in’’ on Tuesday.

Page 13: Low earnings growth expectations may mean fewer misses this reporting season, but it is valuations, not earnings, that are at risk, analysts say.

Page 15: Improving commodity prices, led predominantly by gold, have mining executives tentatively welcoming a new boom, but they say this time around they won’t plunder it.

Page 16: US presidential candidates Donald Trump and Hillary Clinton are both pledging big investments to fix America’s decaying infrastructure, opening up business opportunities for Macquarie Group, Transurban and IFM Investors.

Page 17: Wilsons, as the stockbroking and advisory firm will be known from Monday, wants to shake off its turbulent past and has set a target to double revenue over the next three years.

Page 18: Fortescue Metals Group plans to compete with BHP Billiton for the contestable towage market in Port Hedland, but has vowed not to merely replicate the existing service.

Page 29: Foxtel has commissioned a new iQ3 set-top box and will progressively fix bugs in existing units as the subscription television business prepares to add super-fast broadband to its bundles.

Page 31: Bail-out funds and private equity deals are being created for troubled developers and off-the-plan investors seeking alternatives to reluctant banks, according to financiers.

Page 33: Australia’s residential building boom is about to run out of steam, with commencements of apartment construction expected to fall by 50 per cent over the next four years, research group BIS Shrapnel’s Building in Australia 2016-2031 report says.

 

 

The Australian

Page 3: All vehicles on Australian roads will be driverless by 2030 and road builders must begin work to create smart roads that interact with them, says Telstra chief scientist Hugh Bradlow.

Page 17: Construction heavyweight CIMIC is hiding tens of millions of dollars in losses connected to its flagship WestConnex infrastructure project from investors.

BHP Billiton has given the broader Kalgoorlie region a boost by revealing that its Nickel West unit is restarting development work at its 2012 Venus nickel discovery.

Iron ore junior Brockman Mining, facing three years of court action to date on attempts to access Fortescue Metals Group’s rail network, is taking a leaf out of the iron ore major’s book.

Northern Star Resources is poised to announce it has agreed to terms for the sale of its Plutonic goldmine in Western Australia, with the market darling striking a deal with a private Canadian entity for between $50 million and $75m.

Page 19: China Communications Construction Company, the new owner of Australian engineering group John Holland, has denied involvement in an alleged plot to cover up a multi-billion-dollar corruption scandal at Malaysian sovereign wealth fund 1MDB by inflating a railway contract.

Retailing giant Coles has moved to further secure the long-term supply of fresh produce to its 770 supermarkets, with its first 10-year meat contract signed last week.

Page 22: The world’s biggest oil companies posted losses or steep declines in profit for the second quarter, and now face a daunting remainder of the year as crude prices retreat to about $US41 a barrel.

Page 23: Nine Network has fast-tracked talks with advertisers and media buyers by four months in an unprecedented move as it seeks to bounce back quickly from a disappointing ratings and revenue share performance.

 

 

The West Australian

Page 4: Defeated WA senator Dio Wang blames the bad publicity Clive Palmer attracts as a factor in his loss, revealing he will cut ties with the mining magnate after a 10-year business and political relationship.

Page 7: Colin Barnett has threatened to rebuild the Corruption and Crime Commission should he be re-elected, saying its legislation is too complicated and its role needs to be better defined.

Page 56: A few kilometres from Sandfire Resources' DeGrussa processing plant in the Mid-West, a DDH1 diamond drill rig is hunting for more copper riches.

Page 57: Chevron says Gorgon’s troubled start-up has not delayed the schedule for the $US54 billion development’s second and third processing trains to begin LNG production from as early as October.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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