11/04/2017 - 06:33

Morning Headlines

11/04/2017 - 06:33

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Morning Headlines

PM to push security ties with India

Malcolm Turnbull has used a visit to New Delhi to forge closer security ties and make Australia the number one educator of Indian students as he played down the prospects of sealing the free trade deal with India because of its heavily protected economy. The Fin

 

Panel clears way for $1.2b Spotless offer

Downer EDI is planning to send a formal $1.2 billion takeover offer to Spotless shareholders as soon as possible after the Takeovers Panel said it would not halt the bid. The Fin

 

Dar Group creeps closer to WorleyParsons takeover

Dubai’s Dar Group is in a prime position to launch a formal takeover bid for WorleyParsons after lifting its stake in the engineering group to 19.9 per cent. The Fin

 

Mental cost blowout to hit NDIS

The charity to be headed by Julia Gillard has declared the $22 billion National Disability Insurance Scheme will fail the mentally ill and cost more than projected, in a direct rebuke of the design and costings of the program that has become the chief legacy of her Labor government. The Aus

 

Hits keep coming for the mortgage default capital

Perth homeowners are “taking very big hits” in a falling local real estate market that the West Australian Chamber of Commerce warns may get even worse under a national housing affordability package favoured by the Turnbull government. The Aus

 

Iron ore dives but stockpile declines

The price of Australia’s most important commodity has swung into a bear market, with iron ore now off more than 20 per cent from its February high in a move that will send shudders through the coffers of the nation’s biggest miners and state and federal governments. The Aus

 

Cops off streets

At least 35 police officers will be taken off Perth streets to meet the McGowan Government’s election pledge to keep the front counters at Armadale, Ellenbrook and Cockburn stations open 24 hours a day. The West

 

Unfair GST bad for all: Forrest

Prominent WA businessman Andrew Forrest has warned the failure to fix the State’s GST injustice is hurting business and consumer confidence and damaging the national interest. The West

 

BHP to stick with dual listing

BHP Billiton has rejected a push by activist hedge fund veteran Paul Singer to ditch its dual British and Australian listing and spin off its US petroleum assets, saying the costs of the proposal outweigh the benefits. The West

 

The Australian Financial Review

Page 1: BHP Billiton has become the latest target of activist investors who have urged the miner to split off its petroleum division, downgrade its ASX listing and collapse its dual-listed company structure in a bid to release greater value.

Malcolm Turnbull has used a visit to New Delhi to forge closer security ties and make Australia the number one educator of Indian students as he played down the prospects of sealing the free trade deal with India because of its heavily protected economy.

Page 5: Shortly after 20-something lawyer, immigrant and entrepreneur Uppma Virdi started her Chai Walli tea business in 2014 she decided to source her ingredients from organic suppliers in India. With that decision made, the hard work began: how exactly do you find a credible organic tea supplier in a country like India?

Page 8: Treasurer Scott Morrison gave his strongest signals yet that he is cooling on the idea of changes to the capital gains tax regime as a response to booming house prices, arguing in a speech in Melbourne that ‘‘residential property investment is more geared to capital gain than yield’’.

Page 11: Downer EDI is planning to send a formal $1.2 billion takeover offer to Spotless shareholders as soon as possible after the Takeovers Panel said it would not halt the bid.

Dubai’s Dar Group is in a prime position to launch a formal takeover bid for WorleyParsons after lifting its stake in the engineering group to 19.9 per cent.

Page 13: Origin Energy has looked to the chemistry textbooks and named its to-besold oil and gas arm Lattice Energy as it kicks off a formal divestment process for the business in parallel with preparations for an initial public offer.

 

The Australian

Page 1: The charity to be headed by Julia Gillard has declared the $22 billion National Disability Insurance Scheme will fail the mentally ill and cost more than projected, in a direct rebuke of the design and costings of the program that has become the chief legacy of her Labor government.

A proposal to extend the life of some of Australia’s coal-fired power stations with a new “50-year rule” is gaining traction within government ranks, amid fears that a rush to renewables will threaten electricity security.

Page 2: Perth homeowners are “taking very big hits” in a falling local real estate market that the West Australian Chamber of Commerce warns may get even worse under a national housing affordability package favoured by the Turnbull government.

Page 5: More than a decade after the AWB oil-for-wheat scandal sparked two inquiries, including by the UN, and three civil actions, the affair ended yesterday with former chairman Trevor Flugge fined $50,000.

Page 17: Mining giant BHP Billiton would split its asset base in two and return to being a fully Australian headquartered company under a radical plan put forward by the major hedge fund of US billionaire Paul Singer.

The price of Australia’s most important commodity has swung into a bear market, with iron ore now off more than 20 per cent from its February high in a move that will send shudders through the coffers of the nation’s biggest miners and state and federal governments.

Westpac chairman Lindsay Maxsted has dismissed the notion that banks would have to launch emergency equity capital raisings to meet new reforms, saying the banking regulator would provide them with ample time and should not overly intervene in the property market.

Page 19: Shares in WorleyParsons surged to a two-year high yesterday after Dubai-based raider Dar Group lifted its stake in the engineering services company to within striking distance of a takeover after a $175 million spending spree.

 

The West Australian

Page 1: At least 35 police officers will be taken off Perth streets to meet the McGowan Government’s election pledge to keep the front counters at Armadale, Ellenbrook and Cockburn stations open 24 hours a day.

Page 4: Prominent WA businessman Andrew Forrest has warned the failure to fix the State’s GST injustice is hurting business and consumer confidence and damaging the national interest.

Page 5: Tradies have been banned from loading zones across the City of Perth after changes to parking laws excluded their vehicles.

Page 12: Perth homeowners are set to enjoy the first increase in property values in more than three years.

Page 14: Doctors are worried about more women going overseas for fertility treatment after research revealed they cost the WA health system more than $1 million each.

Page 18: Airfares between Perth and the North West, now the subject of a State Government investigation, have been a contentious issue since the first mining boom of the 1960s. Aviation Editor Geoffrey Thomas examines the factors that go into making a fair fare

Page 44: BHP Billiton has rejected a push by activist hedge fund veteran Paul Singer to ditch its dual British and Australian listing and spin off its US petroleum assets, saying the costs of the proposal outweigh the benefits.

With less than a month to go before the 2017 Federal Budget, Australia’s most important commodity is officially in a bear market.

John Van Der Wielen says the potential “to make a difference” with HBF was part of the motivation in taking on the chief executive’s role with WA’s biggest private health insurer.

Page 45: A European company plans to build Australia’s first mercury treatment facility in Kwinana, primarily to meet demand from North West LNG projects.

Former iiNet executive Maryna Fewster has been appointed director of operations for Seven West Media in WA.

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