24/10/2016 - 06:21

Morning Headlines

24/10/2016 - 06:21

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Morning Headlines

Morrison targets cost of housing

Treasurer Scott Morrison says property investors are not to blame for Australia’s housing affordability crisis, arguing that the government needs to work with the states to remove impediments to supply which are blocking people from being able to enter the market. The Fin

AT&T to buy Time Warner in $112b tie-up

AT&T Inc has agreed to buy Time Warner Inc for $US85.4 billion ($112 billion), the boldest move yet by a telecommunications company to acquire content to stream over its highspeed network to attract a growing number of online viewers. The Fin

NAB the first to feel heat on dividends

National Australia Bank will be under pressure when it reports its full-year profit on Thursday to cut its dividend to lift capital to an ‘‘unquestionably strong’’ level and to reflect lost earnings after the recent sales of its UK and life insurance operations. The Fin

Perth fundies see more upside in resources

Perth portfolio managers at the coalface of the country’s resources industry say the resurgence in mining and energy stocks shows few signs of slowing down. The Fin

Coal activists risk driving India away

A highly orchestrated, secretly foreign-funded group of Australian environmental activists opposing the $16 billion Adani coalmine in Queensland has “dampened” Indian investment interest in Australia and received heated criticism from the federal Coalition and Queensland Labor governments. The Aus

Rinehart topped by $386m Kidman bid

Four of the country’s wealthiest grazier families have mounted a blockbuster $386 million bid for the S. Kidman & Co cattle empire, setting up a showdown with mining magnate Gina Rinehart for control of the company. The Aus

Bid to split ore tax, GST

Nationals WA leader Brendon Grylls wants to quarantine money from his proposed mining tax from the GST distribution formula in a bid to keep the extra cash in WA rather than flow to the bottom line of poorer Eastern States. The West

 

 

The Australian Financial Review

Page 1: Treasurer Scott Morrison says property investors are not to blame for Australia’s housing affordability crisis, arguing that the government needs to work with the states to remove impediments to supply which are blocking people from being able to enter the market.

Page 2: Just five days after 18 Crown employees were detained in China on suspicion of ‘‘gambling crimes’’, Matt Bekier, chief executive of rival casino company The Star Entertainment Group, cancelled a trip to Macau.

Page 3: Health insurers say the government needs to find more savings in the healthcare system and step up reform of the private health sector if it is going to take a hard line on premium increases in 2017.

Page 4: One Nation has confirmed it will vote for the Coalition’s industrial relations legislation as necessary to stop ‘‘union thuggery’’, increasing the government’s chances of passing the bills it used to trigger a double dissolution election.

Page 5: The success of a home-grown pension fund consortium in winning the battle for Ausgrid has not relieved concerns among trade unions that jobs at the NSW power distributor are at risk.

The outlook for global inflation is on the turn, but economists are more worried that consumer price index figures this week might force the Reserve Bank of Australia into cutting rates again.

Health insurer Medibank Private has stubbed the last tobacco stocks out of its $2.4 billion portfolio after tipping $170 million of international equities into a tobacco-free global index trust developed by State Street Global Advisors.

Page 7: South Australian Treasurer Tom Koutsantonis says bans and moratoriums in Victoria and NSW on onshore gas exploration are exacerbating a shortage of gas in the national market as he puts a deadline of December 6 on a $24 million carrot for gas explorers in his home state.

National Australia Bank has increased its lending to agriculture by more than $1 billion in the past 12 months but chief executive Andrew Thorburn says the increased lending for farm expansions and investment in production up the chain has been disciplined.

Page 9: AT&T Inc has agreed to buy Time Warner Inc for $US85.4 billion ($112 billion), the boldest move yet by a telecommunications company to acquire content to stream over its highspeed network to attract a growing number of online viewers.

A Hillary Clinton presidency could make the Australian dollar worth almost 8 per cent more and the local stock market would trade higher compared to a Donald Trump-controlled White House, according to an analysis of swings in financial markets and US election betting odds.

Page 11: National Australia Bank will be under pressure when it reports its full-year profit on Thursday to cut its dividend to lift capital to an ‘‘unquestionably strong’’ level and to reflect lost earnings after the recent sales of its UK and life insurance operations.

After conquering offices with its single-taps systems that deliver boiling and chilled water, Zip Industries is now making strong headway in the residential market as it considers a $500 million-plus float in the first half of 2017.

Page 13: Bonus plan faces an AGM backlash WorleyParsons is facing a possible protest vote at its annual meeting on Tuesday after proxy group ISS opposed the engineering group’s remuneration report due to concerns over its new short-term bonus plan.

Perth portfolio managers at the coalface of the country’s resources industry say the resurgence in mining and energy stocks shows few signs of slowing down.

Page 14: Former Pacific Equity Partners dealmakers Anthony Kerwick and Rob Koczkar have teamed up to launch Adamantem Capital – a new style of private equity firm that speaks volumes about the local private equity industry and the next generation of both dealmakers and deals.

Macquarie Group investors will be keen to hear about the company’s appetite for acquisitions and its outlook when interim earnings are handed down on Friday.

The arrival in early November of 88 bales of cotton, worth $35,000, into China’s Quingdao Port will open a new chapter in the history of trade finance. The shipment from the United States represents the first time that two independent banks have used a combination of blockchain, smart contracts and the internet of things to facilitate a trade transaction, according to one of the banks, Commonwealth Bank of Australia.

Page 16: Flight Centre’s share price is heading south, say the next generation of stock pickers, who have slapped the iconic Australian travel business with a ‘‘sell’’ rating.

Page 17: PayPal has extended its 2016 rally after it raised its revenue outlook and bolstered investor confidence that deals with credit card processors will not erode profitability.

Page 18: Crucial period for rates, dividends Investors this week will gain key insights into the future of the major lenders’ dividend payments and the path of monetary policy as NAB kicks off bank reporting season and crucial inflation figures are released.

Federal Reserve Bank of San Francisco president John Williams said he’d support one interest rate increase in 2016 and a few more next year, though he added that he’d be unperturbed if inflation rose above the Fed’s 2 per cent goal.

Page 25: US technology heavyweights Twitter and Snapchat are canvassing Australian sporting codes, broadcasters and publishers for potential partnerships to boost content offerings.

 

 

The Australian

Page 1: A highly orchestrated, secretly foreign-funded group of Australian environmental activists opposing the $16 billion Adani coalmine in Queensland has “dampened” Indian investment interest in Australia and received heated criticism from the federal Coalition and Queensland Labor governments.

Page 2: Four of the country’s wealthiest grazier families have mounted a blockbuster $386 million bid for the S. Kidman & Co cattle empire, setting up a showdown with mining magnate Gina Rinehart for control of the company.

Page 3: US whitegoods giant Whirlpool offloaded more than 3000 faulty products in Australia, including ovens, refrigerators and washing machines, by misleading its local distributor about how often they failed, a court has heard.

Page 6: Former Victorian premier Jeff Kennett has called for performance bonuses of chief executives to be partially tied to the mental wellbeing of their employees under a radical proposal to be put to the Business Council of Australia today.

Page 17: As the nation’s big four banks prepare to hand down a combined $23 billion in profits in coming weeks, they are expected to stoke fears that dividends may be cut to preserve capital by coming clean on the toll that headwinds have taken on operations in the past six months.

The nation’s fintech companies have called for open access to economically important infrastructure in a move that would favour the big banks in their fractious dispute with Apple, but also open up access to jealously protected bank data.

Fears are spreading among investors that convictions for any of the 18 Crown Resorts employees arrested in China last week could have implications for the company’s Australian gaming licences.

Page 18: Shareholders in market darling IDP Education have queried a bumper pay deal for chief executive Andrew Barkla that has seen the value of options held by him soar to $14m along with the company’s share price.

When Orica chief executive Alberto Calderon chose an oil and gas drilling executive to be his new head of the Australia-Pacific explosives business last year, it looked like a move from out of left field.

Page 19: The NSW economy continues to lead the nation, with Victoria solidly in second place, followed by the ACT, according to the latest State of the States report by Commonwealth Bank’s broking arm.

Page 20: Australia’s top property players see a tougher year ahead for real estate, nominating a possible Trump presidency and volatility in capital markets as some of the industry’s biggest challenges in 2017.

The listed Westfield Corp and British partner Hammerson have submitted a fresh planning application for their upgraded plans for the £1.4 billion ($2.25bn) regeneration of Whitgift shopping centre in London.

Page 21: AustralianSuper manager of investments governance Andrew Gray believes institutional investors should not blindly follow the recommendations of proxy advisers that often take a hard-line black-and-white approach to voting on company resolutions.

Page 22: In their review of Microsoft’s $US26 billion ($34bn) acquisition of LinkedIn, European Union antitrust regulators are attempting to measure the rough value of the professional network’s data and whether rival sites can replicate it, sources say.

 

 

The West Australian

Page 6: Nationals WA leader Brendon Grylls wants to quarantine money from his proposed mining tax from the GST distribution formula in a bid to keep the extra cash in WA rather than flow to the bottom line of poorer Eastern States.

Page 9: Uber will today launch a campaign urging the public to petition against a $2 levy the State Government is considering on all on-demand transport service rides.

Page 10: TV chiefs have renewed calls for licence fee relief from the Turnbull Government ahead of their appearance at a Senate inquiry today into the proposed overhaul of media ownership laws.

Page 11: Tourism WA has set itself the ambitious target of doubling the value of Chinese tourism in WA within four years. And though it will require annual increases of about 20 per cent, Tourism WA acting chief executive Gwyn Dolphin believes the target is “gettable”.

Page 12: Treasurer Scott Morrison will press the States to free up planning rules and improve land supply as he admits housing in Australia is “expensive and increasingly unaffordable”.

An all-Australian consortium of grazier families will compete against mining magnate Gina Rinehart and her Chinese partner Shanghai CRED to buy the S. Kidman & Co pastoral empire.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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