22/02/2017 - 06:52

Morning Headlines

22/02/2017 - 06:52

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Morning Headlines

BHP roars back with big profit

A resurgent BHP Billiton has made nearly three times as much profit in the December half as it made in the entire 2015-16 year, rewarding investors with a dividend that was more than 30 per cent higher than analysts had expected. The Fin

 

Now Seven dishes the dirt . . . on Amber

Former Seven West Media employee Amber Harrison deliberately collected incriminating evidence against her former lover and chief executive Tim Worner before she was fired from the television network, a court has heard. The Fin

 

Musical chairs as Goyder replaces Chaney

Woodside Petroleum’s naming of departing Wesfarmers chief executive Richard Goyder as its next chairman to replace Michael Chaney has raised eyebrows among investors who are questioning the apparently limited pool of alternative board talent in Perth. The Fin

 

Turnbull blasts UN over vote on Israel

Malcolm Turnbull has strongly condemned the UN, accusing it of a prejudiced attack against Israel over a Security Council resolution that accused the Israeli government of violating international law with its settlement activity. The Aus

 

Palmer in China peace bid to keep royalties flowing

Clive Palmer has offered a surprise olive branch to his estranged Chinese business partner Citic, in what appears to be an effort to save the $10 billion-plus Sino Iron project in Western Australia and the potentially lucrative royalties that go with it. The Aus

 

Catch graffiti vandals

Graffiti costs taxpayers at least $25 million a year in clean-up bills, say police, who have released a “rogues’ gallery” of suspected vandals they want the public’s help to hunt down. The West

 

FIFO boosts the bush, says Rio

Rio Tinto is becoming more reliant on FIFO workers from regional WA as its shaves a workforce that is pumping hundreds of millions of dollars into country areas. The West

 

Three new DJ stores for WA

In a sign of confidence in WA’s long-term economy, David Jones will open three new stores in the State in as many years, as part of a $1 billion redevelopment of Westfield shopping centres. The West

 

JWH steps up to finish Builton Group homes

JWH has struck a deal to complete up to 85 homes left unfinished by the indebted Builton Group when it appointed administrators last month. The West

 

The Australian Financial Review

Page 1: A resurgent BHP Billiton has made nearly three times as much profit in the December half as it made in the entire 2015-16 year, rewarding investors with a dividend that was more than 30 per cent higher than analysts had expected.

Scentre Group, the owner of Westfield in Australia and New Zealand, is preparing for the onslaught of online retailer Amazon after posting a full year profit of $2.99 billion, a sign that the biggest retail landlords are benefiting from the hot property market.

Former Seven West Media employee Amber Harrison deliberately collected incriminating evidence against her former lover and chief executive Tim Worner before she was fired from the television network, a court has heard.

Page 3: The Reserve Bank of Australia has said that inflation could accelerate more rapidly than expected if workers succeed in winning oversized wage hikes to make up for years of sluggish income growth.

Page 4: Labor leader Bill Shorten and his senior shadow ministers will tell Israeli Prime Minister Benjamin Netanyahu that his provocative actions over settlements are a roadblock to peace when they meet him this week.

The federal government has moved to back its commitment to broadening the nation’s energy mix by finalising a $450,000 grant to EnergyAustralia to develop a pumped hydro energy storage project in South Australia.

Page 6: Job review sites, featuring employees’ approval ratings of CEOs, are filtering into US investment banks’ assessment of companies and could start having an influence in Australia.

Page 7: Woodside Petroleum’s naming of departing Wesfarmers chief executive Richard Goyder as its next chairman to replace Michael Chaney has raised eyebrows among investors who are questioning the apparently limited pool of alternative board talent in Perth.

Less than six weeks after Treasury Wine Estates won a landmark legal battle over the Chinese name for Penfolds, it is once again under siege from a local company looking to leverage off its brand.

Page 11: Seek faces a battle to convince minority shareholders of Chinese jobs site Zhaopin that it is giving them a fair deal as the Australian company eyes a privatisation of the fast-growing Asian business.

Seven Group chief executive Ryan Stokes says he expects mining companies to begin splashing cash on new heavy equipment in 2018 after a sustained lull in new product sales for Seven’s WesTrac business.

Fairfax Media investor Allan Gray has backed the strategic rationale for separating its Domain real estate business into a new ASX vehicle, but questioned the media giant’s decision to hand as little as 30 per cent of Domain back to Fairfax shareholders.

Page 13: Independence Group’s new Nova nickel mine will likely fail to produce at its full capacity this financial year after work at the project slowed because mining contractor Barminco had difficulty recruiting workers.

 

The Australian

Page 1: Malcolm Turnbull has strongly condemned the UN, accusing it of a prejudiced attack against Israel over a Security Council resolution that accused the Israeli government of violating international law with its settlement activity.

Former chief of the Defence Force, Sir Angus Houston, has surprised hawks in the military establishment by warning against freedom-of-navigation exercises near Chinese-constructed islands in the South China Sea.

Clive Palmer has offered a surprise olive branch to his estranged Chinese business partner Citic, in what appears to be an effort to save the $10 billion-plus Sino Iron project in Western Australia and the potentially lucrative royalties that go with it.

The former lover of Seven West Media boss Tim Worner secreted away damaging material about the company to unleash a “reign of terror” to “destroy” the media chief, a court has heard.

Page 19: BHP Billiton has delivered a bumper first-half profit report, beating expectations with an eightfold rise in earnings as commodities prices rebounded from the depths of a post-boom slump and the company’s productivity drive continued to deliver.

Page 20: The competition watchdog ruling on the merger between Fairfax New Zealand and NZME across the Tasman is expected to be delayed to far beyond March, according to sources.

Page 21: The head of Caltex Australia says allowing rival BP to win a $1.8 billion battle for Woolworths’ service stations was the right move from a value perspective and that acquisitions have covered much of the lost contract earnings, the rest of which are set to be covered by the end of the year.

Page 22: The superannuation industry continues to be hit by the federal government’s tax and contribution changes with figures out yesterday from the Australian Prudential Regulation Authority showing a 19 per cent plunge in net contributions in the year to the end of December.

Page 23: Oil Search CEO Peter Botten says investors should look past yesterday’s below-expectation profit figures and instead focus on the Papua New Guinea LNG producer’s growth potential.

 

The West Australian

Page 3: Graffiti costs taxpayers at least $25 million a year in clean-up bills, say police, who have released a “rogues’ gallery” of suspected vandals they want the public’s help to hunt down.

Page 7: Rio Tinto is becoming more reliant on FIFO workers from regional WA as its shaves a workforce that is pumping hundreds of millions of dollars into country areas.

State Labor has moved to disown the Federal ALP’s ambitious plans for a nationwide 50 per cent renewable energy target despite backing the proposal just months ago.

Page 9: In a sign of confidence in WA’s long-term economy, David Jones will open three new stores in the State in as many years, as part of a $1 billion redevelopment of Westfield shopping centres.

Page 13: Commuters could get away with travelling on Perth trains free this week — by refusing to provide their personal details if they get caught without a ticket.

Page 19: Malcolm Turnbull will enjoy a $129 a week tax cut in July while millions of lowly paid Australians will go without tax relief for the fifth consecutive year.

Page 20: First he tackled irritated stomachs — now WA Nobel laureate Barry Marshall is turning his unconventional research to painful bladders.

Page 21: Perth potato and tomato growers are reeling after the Eastern States banned the import of WA produce following the discovery of a rare and destructive bug at a Perth farm and in suburban backyards.

Page 29: BHP Billiton has delivered Brendon Grylls more ammunition in the war of words over the Nationals leader’s planned iron ore revenue rise, booking a big lift in profit from its WA iron ore business as the March State Election looms.

Page 30: The remarkable turnaround at BHP Billiton’s Nickel West operations continued in the first half of the financial year, with the company’s WA nickel operations delivering $US37 million in underlying earnings in the December half.

Page 71: JWH has struck a deal to complete up to 85 homes left unfinished by the indebted Builton Group when it appointed administrators last month.

Page 72: Charter Hall has decided to sell its ageing 109 St Georges Terrace, home to Westpac, in a manoeuvre which will provide a litmus test for Perth’s embattled city office market.

South Perth’s rising water table could prove problematic for high-rise tower projects — not just Civic Heart — sources say.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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