26/08/2016 - 06:20

Morning Headlines

26/08/2016 - 06:20

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Morning Headlines

Recession warning falls on deaf ears

The Turnbull government will blitz the Parliament with budget and economic reform bills next week to maintain the pressure on Labor and the minor parties to avert what Treasurer Scott Morrison claims could be a recession and gross debt hitting $1 trillion in a decade. The Fin

Miners may face native title compo liability

The West Australian government will pass on the liability for future native title compensation claims onto third parties such as mining companies, in a bid to cover for an expected backlog of multibillion-dollar claims. The Fin

Cashed-up South32 taking cautious steps towards deals

South32 chief executive Graham Kerr has provided the strongest signal the miner is ready to use its healthy balance sheet to pursue growth, revealing there are a ‘‘series of opportunities’’ in the market, including two of particular interest. The Fin

Disloyal poll infuriates Barnett

Colin Barnett has ordered an investigation of an extraordinary private poll on his unpopularity. The Aus

Morrison warns of welfare cycle

Scott Morrison’s attempt to jump-start a national debate on debt has been rebuffed by Labor, threatening the Federal Government’s plans to withdraw welfare from the handout generation and slash spending. The West

Kleenheat turns up heat in gas market

WA’s retail natural gas war is heating up, with Wesfarmers-owned Kleenheat notching up more than 100,000 customers three years after ending Alinta’s monopoly. The West

MMA lifts repayments in amended debt facility

Embattled marine services provider MMA Offshore’s loan repayments will increase to $75 million a year under the second rejig of its banking facility this year. The West

 

 

The Australian Financial Review

Page 1: The Turnbull government will blitz the Parliament with budget and economic reform bills next week to maintain the pressure on Labor and the minor parties to avert what Treasurer Scott Morrison claims could be a recession and gross debt hitting $1 trillion in a decade.

Woolworths will need to reverse falling sales in its flagship supermarket business and grow them by at least 2 per cent if it is to return to profit, after posting its first loss as a listed company.

Page 2: Deputy Prime Minister Barnaby Joyce has ripped into supermarkets, saying sales of $1 milk were ‘‘a form of exploitation’’, as he gave the competition regulator more power in its inquiry into the dairy industry.

Page 3: Stevedore Patrick has ended more than 12 months of industrial deadlock, reaching an agreement in principle with the Maritime Union of Australia just days after the company was taken over by Qube and Brookfield Infrastructure.

Page 7: The expert who influenced previous Liberal and Labor administrations on superannuation policy has thrown his support behind the Turnbull government’s reform proposals, describing them as fair, overdue and simple to administer.

Page 8: A lower Australian dollar and targeted marketing campaigns will boost international visitors growth to an average 6.2 per cent over the next three years, according to a new report.

Page 12: The West Australian government will pass on the liability for future native title compensation claims onto third parties such as mining companies, in a bid to cover for an expected backlog of multibillion-dollar claims.

Page 17: South32 chief executive Graham Kerr has provided the strongest signal the miner is ready to use its healthy balance sheet to pursue growth, revealing there are a ‘‘series of opportunities’’ in the market, including two of particular interest.

Flight Centre will look to push further into hotel management, tour operating and student travel, and will invest in travel start-ups as it looks beyond a volatile travel market towards its next growth phase.

Page 19: Amcor is on the lookout for acquisitions of companies making packaging for the food, personal care and medical sectors in North and South America, where the company’s chief executive believes it is underweight.

Page 20: Retail Food Group, which owns food retail brands like Donut King, Gloria Jean’s Coffees and Crust Pizza, has added a ‘‘new dimension’’ by buying food maker and distributor Hudson Pacific, chief executive Andre Nell says.

Billabong chief executive Neil Fiske says the surf and skatewear retailer’s turnaround remains on track, even though the group slipped back into the red in 2016.

Page 21: Mortgage Choice chief executive John Flavell is confident the mortgage market will continue to grow and more home-loan borrowers will seek out brokers as regulation and macroeconomic headwinds for the banks increase complexity.

Page 27: The world’s largest zircon miner, Iluka Resources, has been dragged into the red for the first half due to a prevailing weakness in mineral sands prices and the price of iron ore, on which it collects a royalty.

Page 28: Furniture retailer Fantastic Holdings remains under pressure to merge with Super Amart or make board changes despite delivering strong growth from its core brands and rewarding investors with a special dividend.

Page 29: Nine Entertainment is betting on an increase in local content to bring viewers and revenue back to the free-to-air broadcaster following a disappointing second half.

 

 

The Australian

Page1: The defence department has warned the French company in the middle of the global submarine leaks scandal that it will demand the same level of information security on the new submarine project as Australia enjoys with its closest ally, the US.

Page 6: Colin Barnett has ordered an investigation of an extraordinary private poll on his unpopularity.

Page 8: Labor has promised to axe high-earning bureaucrats and trim the sprawling Northern Territory public service if it wins Saturday’s election, in a bid to fund generous infrastructure stimulus while keeping the budget tracking to a surplus by the end of next term.

Page 10: North Korean leader Kim Jong-un claimed yesterday his country had achieved the “success of all successes” in launching a missile from a submarine, saying it gave the country a fully equipped nuclear attack capability and put the US mainland within striking distance.

Page 21: Shanghai CRED Real Estate, headed by real estate billionaire Gui Guojie, has split with the consortium that was twice named preferred bidder for the sprawling S. Kidman & Co pastoral empire.

Southern Cross Media chief executive Grant Blackley insists the company is not in merger talks with new television affiliate Nine Entertainment but he will continue to lobby for media reform that would allow such a deal.

Energy networks have warned that dismantling a regime allowing them oi seek reviews of revenue decisions by the Australian Energy Regulator would be “alarming” for long-term investors and akin to “sending the umpire off the field for blowing the whistle”.

Page 24: Attempts by the big banks to justify holding back half the Reserve Bank’s rate cut have been dealt a blow after research found their overall cost of funding was “very similar” to the cash rate.

 

 

The West Australian

Page 6: Scott Morrison’s attempt to jump-start a national debate on debt has been rebuffed by Labor, threatening the Federal Government’s plans to withdraw welfare from the handout generation and slash spending.

Page 8: Premier Colin Barnett has refused to rule out sacking Transport Minister Dean Nalder, with senior Liberals believing the minister’s position in Cabinet is untenable and his leadership aspirations irretrievable.

Page 22: One Nation senator-elect Rod Culleton is having his election challenged in the High Court by a former associate.

Uncertainty over a proposed industrial buffer in the southern metropolitan area has forced the City of Rockingham to pass up $10 million of investment, forgoing more than 100 jobs, the council has claimed.

Page 26: WA’s retail natural gas war is heating up, with Wesfarmers-owned Kleenheat notching up more than 100,000 customers three years after ending Alinta’s monopoly.

Page 75: Shares in Western Areas were pummelled yesterday after the nickel miner posted a full-year loss of $26.7 million and axed its final dividend.

Page 77: Embattled marine services provider MMA Offshore’s loan repayments will increase to $75 million a year under the second rejig of its banking facility this year.

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