20/12/2016 - 07:29

Morning Headlines

20/12/2016 - 07:29

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Morning Headlines

Hanson tries to grab WA Senate spot

S&P calls for more budget cuts

WA to seek incentive for sell-off

No pokies exit for Coles, Woolies

Fortescue Metals hunting other iron ore blending partners

College votes in Trump

Shoppers start to open wallets

 

 

Hanson tries to grab WA Senate spot

One Nation Leader Pauline Hanson is attempting to stop embattled Western Australian senator Rod Culleton from having anything to do with his replacement if he is turfed out of Parliament. The Fin

S&P calls for more budget cuts

Page 1: The government has staved off a downgrade to the AAA credit rating but it remains on notice due to a $10.3 billion deterioration in the deficit and wariness among the ratings agencies about the path back to surplus. The Fin

WA to seek incentive for sell-off

WA Treasurer Mike Nahan has said he could still seek an incentive payment from Canberra for selling off the state’s electricity network despite a decision to close a $10 billion privatisation incentive fund. The Fin

No pokies exit for Coles, Woolies

Wesfarmers and Woolworths have rejected renewed calls to sell their poker machines as anti-gambling advocates warn that 2017 will be a "very unhappy year" for the gaming industry. The Fin

Fortescue Metals hunting other iron ore blending partners

Fortescue Metals Group chief executive Nev Power says the iron ore producer is examining whether there are other companies it could blend its Pilbara ore with after flagging a blending alliance with Brazilian rival Vale was unlikely to eventuate. The Fin

College votes in Trump

Donald Trump has won the Electoral College vote, ensuring that the billionaire will become America’s 45th president. The Aus

Shoppers start to open wallets

There is cause for cautious economic optimism after spending in WA jumped almost 8 per cent over the year and by one per cent last month, according to the Commonwealth Bank. The West

 

 The Australian Financial Review

Page 1: The government has staved off a downgrade to the AAA credit rating but it remains on notice due to a $10.3 billion deterioration in the deficit and wariness among the ratings agencies about the path back to surplus.

Wesfarmers and Woolworths have rejected renewed calls to sell their poker machines as anti-gambling advocates warn that 2017 will be a "very unhappy year" for the gaming industry.

Page 4: A plan to use the Clean Energy Finance Corporation to help fund a gas power lifeline for Alcoa Australia’s struggling Portland aluminium smelter could run into difficulties with the green bank’s legislative charter.

Page 5: One Nation Leader Pauline Hanson is attempting to stop embattled Western Australian senator Rod Culleton from having anything to do with his replacement if he is turfed out of Parliament.

Page 6: Chief executives and business leaders have called on the Turnbull government ‘‘not to panic’’ but warned that the $10.3 billion budget blowout is a serious ‘‘reality check’’ that requires urgent action.

Page 7: WA Treasurer Mike Nahan has said he could still seek an incentive payment from Canberra for selling off the state’s electricity network despite a decision to close a $10 billion privatisation incentive fund.

Page 9: The government will hit welfare fraud and tertiary students for more than $9 billion in savings while upping spending on infrastructure as it fulfils its election promises.

Page 13: Commonwealth Bank of Australia has sold for $439 million its remaining stake in Visa, the payments facilitator originally owned by global banks, after an internal review led the company to reduce the value of some of its software faster than scheduled.

Five months after taking back control of online retailer Catch Group, Rich Listers Gabby and Hezi Leibovich are eyeing acquisitions, partnerships and new categories in an attempt to lift sales three-fold to $1 billion.

Page 15: UGL’s remaining shares will be snapped up by CIMIC and probably delisted after the construction group secured 90 per cent of the smaller contractor, allowing it to complete its $524 million hostile takeover.

Takeover target DUET Group is expanding further outside its core regulated energy transmission business with plans to build WA’s biggest gas storage plant.

Page 16: Fortescue Metals Group chief executive Nev Power says the iron ore producer is examining whether there are other companies it could blend its Pilbara ore with after flagging a blending alliance with Brazilian rival Vale was unlikely to eventuate.

 

 

The Australian

Seven West chairman Kerry Stokes has reprimanded CEO Tim Worner for his affair with a staffer.

The future of Bellamy’s chairman Rob Woolley and, potentially, CEO Laura McBain looks increasingly in doubt.

Fortescue’s new iron ore carrier should be a reminder the miner can meet its challenges, says Andrew Forrest.

James Packer’s global casino plans took a major hit last week, but Japan could prove a winner from the latest overhaul.

Donald Trump has won the Electoral College vote, ensuring that the billionaire will become America’s 45th president.

A diamond magnate threatening to sue Rio Tinto over a Guinea iron ore deposit has been arrested on suspicion of bribery.

Government seems willing to “go it alone” on building next major airport after handing contract to Sydney Airport.

Scott Morrison is being urged to make new budget savings to defy doubts over his forecast $1.1bn surplus in 2021.

 

 

The West Australian

There is cause for cautious economic optimism after spending in WA jumped almost 8 per cent over the year and by one per cent last month, according to the Commonwealth Bank.

State Environment Minister Albert Jacob has cautioned Labor to allow WA’s uranium mines to operate if the party wins the 2017 State election.

A 3-D printing company backed by local tech investor Tony Grist is set to list on the Australian Securities Exchange by Thursday after wrapping up a heavily delayed $6 million raising and subsequent backdoor listing.

Decmil Group has won a $40 million contract to build facilities at two Rio Tinto iron ore mines in the Pilbara.

Cash-strapped Chinese-backed goldminer KalNorth has put a for-sale sign on the Kalpini Gold Project, 75km north-east of Kalgoorlie, in a bid to knock down debts.

WA’s new Agriculture Minister has vowed to rebuild the Department of Agriculture and Food after years of budget and job cuts by the State Government.

The proposition of Australia’s first heavy rare earths mine is starting to look real after Northern Minerals finalised an engineering, procurement and construction contract with Chinese engineering giant Sinosteel MECC.

Lithium Australia and Pilbara Minerals have resumed pilot tests of Lithium Australia’s revolutionary Lithium extraction process that could turn great swathes of uneconomic tonnes into economic tonnes at Pilbara’s giant Pilgangoora Lithium project near Port Hedland.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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