22/11/2016 - 06:15

Morning Headlines

22/11/2016 - 06:15

Bookmark

Save articles for future reference.
Morning Headlines

Boral’s $3.5b bet on US

The chief executive of building materials giant Boral, Mike Kane, says he is betting on a long-term US economic recovery and not just a ‘‘Trump bump’’ in making the biggest US acquisition by an Australian company in five years. The Fin

Shareholders back Rio over Guinea scandal

Big shareholders in Rio Tinto say they are still willing to invest in developing nations despite the company’s Guinean payment scandal, and they want chief executive Jean-Sebastien Jacques to further explain how the company’s strategy will change under his leadership. The Fin

Oracle kicks off hiring spree

The new managing director of technology giant Oracle’s Australia and New Zealand operations will kick off his stint in the top job by going on a hiring spree for a new sales division, which he said would be focused on encouraging local businesses on to its cloud computing offerings. The Fin

Woolies warns of festive supply pressure

Woolworths has warned its food and grocery suppliers the first two weeks of January remain “the most problematic time of the year’’ for keeping its shelves stocked as the nation grinds to a halt after Christmas. The Aus

QBE rallies as yields soar

With financial markets pricing in a likely US rate rise next month, under-pressure insurance companies will soon feel the relief of rising bond yields, which have surged on the prospect of expansive fiscal policy under president-elect Donald Trump. The price of shares in Australia’s biggest insurer, QBE, has rocketed nearly 20 per cent since the US election. The Aus

HBF warns of health stress

The head of WA’s biggest health fund has warned that the Federal Government needs to do more to make premiums affordable, as new figures show the percentage of West Australians with cover has fallen for the first time in 15 years. The West

Grylls claims Rio ‘disconnect’

Job cuts at Rio Tinto’s WA operations prove there is a “massive disconnect” between the miner’s London boardroom and what is happening on the ground, Nationals leader Brendon Grylls says. The West

Barrick sceptical of China bid

The Canadian owner of half the Kalgoorlie Super Pit was last night deciding whether a Chinese bidder was capable of scraping together the more than $US1 billion ($1.3 billion) it needs to take a stake in Australia’s highest profile gold mine. The West

 

 

The Australian Financial Review

Page 1: The chief executive of building materials giant Boral, Mike Kane, says he is betting on a long-term US economic recovery and not just a ‘‘Trump bump’’ in making the biggest US acquisition by an Australian company in five years.

Page 2: Val Morgan Outdoor is rolling out technology that allows out-of-home advertising to instantly measure consumer reactions.

Page 3: Australia risks missing out on the global shift towards driverless cars if it does not introduce nationally consistent rules governing their use, the National Transport Commission has warned.

Page 4: Time is running out on the government’s defence of the AAA credit rating, with S&P Global Ratings warning it expects to see budget improvements as soon as the next two to nine months.

Treasurer Scott Morrison has left open the door to considering a Grattan Institute proposal to curb or scrap three aged-based tax breaks that cost the budget $1 billion a year.

Financial Services Minister Kelly O’Dwyer will on Tuesday reveal the Coalition’s intention to reintroduce a bill into Parliament that will require superannuation fund boards to have a minimum of one-third independent directors.

Page 7: Labor’s proposal to have the Australian Securities and Investment Commission regulate unions was due in part to its belief that a Registered Organisations Commission would be a small body prone to government interference.

Page 8: Australia’s education exports have soared to a new high of $21 billion a year driven by a 17 per cent surge in Chinese student enrolment.

Page 9: Asia-Pacific leaders have reaffirmed their commitment to free trade while Malcolm Turnbull says there is still some hope US President-elect Donald Trump may change his mind and agree to support the Trans-Pacific Partnership.

Page 15: Big shareholders in Rio Tinto say they are still willing to invest in developing nations despite the company’s Guinean payment scandal, and they want chief executive Jean-Sebastien Jacques to further explain how the company’s strategy will change under his leadership.

Former Microsoft and Nokia executive Stephen Elop says working with and adapting the best products from the likes of Google, Cisco or Apple will allow Telstra to succeed in its ambition of becoming a technology company.

Newcrest Mining has revealed plans to increase output from its two most important mines, and believes the Ecuadorian acreage it recently plumped for could host multiple mines.

Page 18: National Australia Bank is talking to customers of its business bank about how Australia’s real-time payments system, which will be switched on next year, could help slash administration costs given it will allow data to be transferred alongside money.

Byron Bay beer company Stone & Wood is preparing to hit the button on yet another expansion of its largest brewery as sales jump by 60 per cent to more than $30 million, which cofounder Jamie Cook attributes in part to ‘‘corporate comb-overs’’ by big rival brewers.

AMP has lost a key life insurance contract to provide death and disability cover to more than 200,000 members of the Mercer superannuation scheme.

Page 19: Microsoft chief executive Satya Nadella has revealed the secret to the company’s plan to overhaul two of its biggest rivals, Apple and Amazon … it stopped trying to.

Online payday lender Enably has closed one of the largest start-up fund raising rounds of 2016, banking $33.5 million from Chicago billionaire Richard Driehaus and New York-based hedge fund Corbin Capital Partners.

Page 20: The new managing director of technology giant Oracle’s Australia and New Zealand operations will kick off his stint in the top job by going on a hiring spree for a new sales division, which he said would be focused on encouraging local businesses on to its cloud computing offerings.

Internet of things start-up Secure2Go is set to list on the ASX in December, raising up to $5 million for the business that has built a platform that lets enterprises and individuals monitor remote assets such as cars and boats in real time.

AirTree Ventures has made the last investment of the $60 million fund it closed in 2014, as it aims to bring in the talent required for its latest $250 million fund it just began drawing down.

Page 31: A Chinese entertainment company has approved plans to invest nearly $400 million in a Gold Coast theme park, as it seeks to capitalise on the boom in mainland tourists coming to Australia.

Charter Hall will seed a new $400 million unlisted industrial fund with separate stakes in a South Australian distribution centre and in a wholesale partnership already under its management.

Page 35: 3D printing start-up AbilityMate lets its staff nominate what they should get paid. The start-up is part of a growing shift towards more pay transparency within business which, together with employees anonymously sharing personal pay details on job sites such as Glassdoor, is breaking the culture of pay secrecy in Australia.

 

 

The Australian

Page 1: The door could be opened again for China to join the world’s largest regional trade agreement, the Trans-Pacific Partnership, if the US pulls out of the deal, as threatened by president-elect Donald Trump.

Page 3: The number of federal government ministerial advisers has ballooned 65 per cent since last year, prompting union claims that the Coalition is trying to get around its own 2 per cent cap on public-sector wage rises.

Page 4: The Turnbull government will launch a renewed bid for its $48.7 billion company tax cut despite clear warnings of a delay to its plan to balance the budget by 2021, insisting on the need for tax relief to give the country an economic boost.

Page 19: Woolworths has warned its food and grocery suppliers the first two weeks of January remain “the most problematic time of the year’’ for keeping its shelves stocked as the nation grinds to a halt after Christmas.

Page 21: Qantas has a fight on its hands to save its planned alliance with American Airlines after the US Department of Transportation tentatively denied plans to expand the partnership on grounds it was anti-competitive.

Prospective home buyers are moving quickly to pick up properties listed for sale, but the number of Australians suffering mortgage stress and falling behind on their loans is expected to rise in the next year.

The Australian Taxation Office has for the first time launched legal action against foreign retail banks over their alleged role in “back-to-back loan” tax-avoidance schemes as part of its $125 million fight with the Binetter family behind Nudie Juice.

Page 22: With financial markets pricing in a likely US rate rise next month, under-pressure insurance companies will soon feel the relief of rising bond yields, which have surged on the prospect of expansive fiscal policy under president-elect Donald Trump. The price of shares in Australia’s biggest insurer, QBE, has rocketed nearly 20 per cent since the US election.

Billionaire Alex Waislitz has lashed out at the board of car finance group Money3 over its proposed issue of more than five million options to the board and management, saying his Thorney Group will vote according to its “moral beliefs’’ in opposing the resolution at this week’s annual general meeting.

Page 23: Atlas Iron’s new management team has stressed the importance of quickly replacing production soon to be lost out of the company’s Pilbara iron ore operations in the clearest indication the group’s powerful lenders are willing for it to invest in new capacity.

Page 24: Saudi Arabian Oil Company has been the world’s single largest crude producer for decades. It wants to be a lot more than that now, as a new petrochemical complex shows.

Page 25: The trial starts today in the Justice Department’s challenge to health insurer Anthem’s $US48 billion ($65.6bn) acquisition of reluctant partner Cigna, a case that could produce unusual courtroom drama and be a last hurrah for President Barack Obama’s antitrust enforcers.

Page 29: The entry of online retail giant Amazon.com into the Australian market has been seen as an existentialist threat to local retailers for some time now.

 

 

The West Australian

Page 3: The head of WA’s biggest health fund has warned that the Federal Government needs to do more to make premiums affordable, as new figures show the percentage of West Australians with cover has fallen for the first time in 15 years.

Page 4: Scott Morrison has vowed to press ahead with $50 billion worth of company tax cuts while conceding the Federal Budget is bleeding revenue and is unlikely to reach the Government’s latest target date to get back to surplus.

Page 5: Taxpayers will be saddled with tens of thousands of dollars in legal bills to help WA One Nation senator Rod Culleton save his political career in a High Court fight.

Page 9: Qantas has warned Perth Airport that it has only weeks to agree to its terminal proposal for a western hub for non-stop flights to Europe or it will be delayed by up to 10 years.

Page 10: Job cuts at Rio Tinto’s WA operations prove there is a “massive disconnect” between the miner’s London boardroom and what is happening on the ground, Nationals leader Brendon Grylls says.

The fate of Kalgoorlie’s Super Pit was in the balance last night as the company selling its half-share tried to work out whether the Chinese outfit that registered a jaw-dropping bid could afford to go through with the deal.

Page 14: Industry superannuation and the Federal Government are set to clash today amid threats of a crackdown on union involvement and the funding of Donald Trump’s $US1 trillion infrastructure plans for America.

Page 45: The Canadian owner of half the Kalgoorlie Super Pit was last night deciding whether a Chinese bidder was capable of scraping together the more than $US1 billion ($1.3 billion) it needs to take a stake in Australia’s highest profile gold mine.

Dacian Gold will take a cautious approach to financing its Mt Morgan gold mine through debt, according to executive chairman Rohan Williams.

Atlas Iron is on a tight schedule to produce options to replace two of its nearly exhausted Pilbara iron ore mines, but interim boss Daniel Harris says he believes the company will keep generating enough cash to meet debt covenants.

Page 46: The State’s environmental watchdog has ticked off on Gold Road’s plans for the Gruyerre gold project, taking the 270,000-ounce-a-year mine a major step closer to construction.

Health insurer Medibank Private has named National Australia Bank group performance and planning general manager Mark Rogers as its new chief financial officer.

Page 47: National Broadband Network chief executive Bill Morrow has tipped WA will catch up to the rest of country with its NBN take-up once retailers join in on the rollout of the high-speed internet service.

Acquisitive contracting company OTOC has bought an east coast spatial engineering and surveying business for $5 million.

Page 48: Australia’s biggest specialty infant goods retailer, Baby Bunting, has lifted store sales more than usual, is on track to open four new stores and expects to realise its full-year underlying earnings target.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options