17/08/2016 - 06:17

Morning Headlines

17/08/2016 - 06:17

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Morning Headlines

BHP calls end of the price rout

BHP Billiton has committed to growing cash flow and has declared commodity prices have stopped falling, after slashing its dividend and posting its biggest loss since the miner was formed through a merger in 2001. The Fin

RBA cut was all about keeping $A low

The Reserve Bank of Australia cut the official cash rate to a record-low 1.5 per cent to head off extra upward pressure on the currency in anticipation of further central bank rate cuts and bond buying around the world. The Fin

Big four cheapest in 20 years, says Regal

Shares in Australia’s big four banks are close to the cheapest they have been in 20 years, but the risk is whether they stay that way given the outlook for economic growth. The Fin

Be wary on foreign funds: RBA

Glenn Stevens has weighed into the foreign investment debate, saying Australia should do more to attract the flow of funds that builds new businesses but be more cautious about foreigners simply purchasing existing Australian assets. The Aus

Domino’s still hungry for more

Domino’s chief Don Meij remains a “true believer” in the pizza chain’s supercharged growth prospects that will spring from more than 4500 stores in a fast-food empire stretching from Tokyo to Amsterdam, although investors were less chipper yesterday after slowing profit guidance sparked a 6 per cent share price slide. The Aus

Omnibus Bill to lock ALP into cuts

Malcolm Turnbull will seek to use the resumption of Parliament to lock in billions of dollars in welfare and spending cuts that Labor begrudgingly accepted during the election campaign. The West

Porter warns Labor over GST

Former WA treasurer and senior Turnbull Government minister Christian Porter has called on WA Labor MPs to support the principle of a GST floor unequivocally, saying they campaigned on the issue and must support efforts to change the system. The West

 

 

The Australian Financial Review

Page 1: BHP Billiton has committed to growing cash flow and has declared commodity prices have stopped falling, after slashing its dividend and posting its biggest loss since the miner was formed through a merger in 2001.

Legislation for almost $6.5 billion in spending cuts, which Labor has pledged to either support or consider, will be put to the new Parliament as an immediate test of the opposition’s resolve on budget repair, the Prime Minister Malcolm Turnbull will announce today.

Page 3: The Australian Bureau of Statistics will spend half a million dollars on a major efficiency review days after the Prime Minister announced an adviser to investigate the census disaster and amid opposition calls for a Senate inquiry.

Page 5: Ausgrid may not own a telco licence but it owns and manages plenty of private secure fibre lines that connect to the NSW police headquarters in the CBD and other high-level organisations and could allow a foreign owner ‘remote control’ access to data that compromises national security, a company insider said.

Page 6: The Reserve Bank of Australia cut the official cash rate to a record-low 1.5 per cent to head off extra upward pressure on the currency in anticipation of further central bank rate cuts and bond buying around the world.

Page 9: James Gorman, the chief executive of Morgan Stanley and most senior Australian on Wall Street, has been thrown into the market spotlight after a high-profile activist investor bought into the bank.

Page 13: Challenger has inked deals with Suncorp and ClearView Wealth that are tipped to turbo-charge its booming annuities business.

Page 15: Departing Asciano chief executive John Mullen will take home more than $10 million after the ports and rail group is split up at the end of the week following its $9.05 billion takeover by Qube and Brookfield Infrastructure.

Page 17: Shares in Australia’s big four banks are close to the cheapest they have been in 20 years, but the risk is whether they stay that way given the outlook for economic growth.

Page 18: NBN chief executive Bill Morrow believes the big four telecommunications companies will face greater competition from new market entrants once the wholesale broadband provider and infrastructure builder steps up its rollout to higher-value metropolitan areas.

Page 28: SCA Property Group is in discussions with German retailer Aldi for another six shopping centres as the group tries to reweight its exposure away from Woolworths, whose slowing sales growth dampened an otherwise strong result from the shopping centre landlord.

Page 29: Perth-based property fund manager Primewest has acquired the iconic ‘‘Chambers’’ building and adjoining eight-storey office building ‘‘The Tower’’ in Brisbane’s CBD for $37.4 million.

 

 

The Australian

Page 1: Glenn Stevens has weighed into the foreign investment debate, saying Australia should do more to attract the flow of funds that builds new businesses but be more cautious about foreigners simply purchasing existing Australian assets.

Page 2: The Chinese embassy has warned that the rejection this year of two bids by Chinese companies to invest in Australia showed “clear protectionist tendencies” which would have a “serious impact on the enthusiasm” of firms wanting to invest in Australia.

Page 8: Malcolm Turnbull and Deputy Prime Minster Barnaby Joyce have warned troubled dairy company Murray Goulburn that the government will not sit by and see poor business decisions and corporate mismanagement erode the profitability and strength of the dairy industry.

Page 23: Domino’s chief Don Meij remains a “true believer” in the pizza chain’s supercharged growth prospects that will spring from more than 4500 stores in a fast-food empire stretching from Tokyo to Amsterdam, although investors were less chipper yesterday after slowing profit guidance sparked a 6 per cent share price slide.

Page 26: United Parcel Service chief executive David Abney is pushing for congress to pass a new Asian trade agreement by the end of the year, saying if the US doesn’t act now, it will be left in the dust.

 

 

The West Australian

Page 7: The Perth Royal Show lost almost $3 million last year as visitor numbers fell 13 per cent to a 25-year low.

Page 10: Malcolm Turnbull will seek to use the resumption of Parliament to lock in billions of dollars in welfare and spending cuts that Labor begrudgingly accepted during the election campaign.

Page 12: Former WA treasurer and senior Turnbull Government minister Christian Porter has called on WA Labor MPs to support the principle of a GST floor unequivocally, saying they campaigned on the issue and must support efforts to change the system.

New Racing and Gaming Minister Brendon Grylls says he supports privatising the TAB if the racing industry supports it, but gave no clue about when the State Government will formalise its position on the issue.

Page 24: Newly recycled WA Nationals leader Brendon Grylls is backing a sell-off of State-owned utility Western Power, but only if it is partially privatised.

Page 31: BHP Billiton’s WA nickel operations generated cash in the second half of the year despite dire market conditions, chief executive Andrew Mackenzie says.

Page 32: A leading figure in WA carbon farming has put the heat on State Government to make the legislative and policy changes needed to grow the industry.

Page 34: More than $300 million to be invested in a trio of commercially significant CBD projects anchored by the Perth train station and busport has provided a bright spot against the background of Perth’s depressed office market.

Perth’s two-decade high CBD office vacancy rates have had a monstrous impact on rents with experts split on whether “real” rents have halved or merely slipped 20 per cent.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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