25/05/2017 - 06:41

Morning Headlines

25/05/2017 - 06:41

Bookmark

Upgrade your subscription to use this feature.

Retail blow as Topshop goes under

Fashion chain Topshop Australia has collapsed after just six years, dealing a new blow to a hard-pressed retail sector already reeling from a string of high-profile failures. The West

 

‘Lack of belief’ sends defence work overseas

A lack of pride and belief held by Australian industry had led the Federal Government in the past to favour overseas manufacturers for defence equipment, according to Austal chief executive David Singleton. The West

 

Spending plunges under Coalition

The annual growth rate in government spending is on track to fall to the lowest levels in 50 years, according to Treasury records, which reveal the budget forecasts over the next four years will achieve a target not attained by a party in government since the Menzies era. The Aus

 

China angry at Moody’s downgrade

China and one of the world’s most influential ratings agencies are at loggerheads after Moody’s delivered a scathing assessment of Beijing’s economic policymaking and downgraded the country’s debt for the first time in 26 years. The Fin

 

Alinta in line for power station bid

Speculation is mounting that Alinta Energy is in the contest to buy the $1 billion Loy Yan B coalfired power station from French conglomerate Engie and Japan’s Mitsui, only weeks after Alinta was snapped up by Hong Kongbased investor Chow Tai Fook. The Aus

 

ScoMo maps path back to higher salaries

Treasurer Scott Morrison has defended optimistic wage growth forecasts contained in the budget, saying the rebound will be driven by company tax cuts, the end of the mining downturn, and infrastructure. The Fin

 

Fund manager took on Brickworks ‘to boost value’

Investor Matt Williams has told the Federal Court that his attempts to disentangle the Washington H. Soul Pattinson and Brickworks cross shareholdings were driven by a desire to ‘‘improve the lot of minority shareholders’’, not boost his own fund performance. The Fin

 

Staffer arrest plunges One Nation deeper into chaos

Pauline Hanson’s One Nation was plunged into further chaos after senator Malcolm Robert’s senior media adviser Sean Black was yesterday arrested and charged with assault. The Aus

 

CBA chief says tax will hit economy

The head of Australia’s biggest bank has warned of the consequences of the Federal Government’s proposed $6.2 billion bank tax, saying it will hurt the economy as well as mum and dad investors. The West

 

The Australian Financial Review

Page 1: China and one of the world’s most influential ratings agencies are at loggerheads after Moody’s delivered a scathing assessment of Beijing’s economic policymaking and downgraded the country’s debt for the first time in 26 years.

Anthony Pratt, 57, tops this year’s Financial Review Rich List with record personal wealth of $12.6 billion, thanks mostly to his booming Pratt Industries cardboard box manufacturing and recycling business in the United States.

Page 5: Construction, Forestry, Mining and Energy Union NSW boss Brian Parker sought to coerce workers into unlawful strikes at Lendlease’s $6 billion Barangaroo project by intimidating a female police officer and calling those entering the site ‘‘f---ng dogs’’, the Federal Court has found.

Page 6: Treasurer Scott Morrison has defended optimistic wage growth forecasts contained in the budget, saying the rebound will be driven by company tax cuts, the end of the mining downturn, and infrastructure.

Page 15: Uber’s practice of persistently raising capital from private investors is akin to a Ponzi scheme, according to veteran investor and Magellan Financial Group chief executive Hamish Douglass.

Page 17: Investor Matt Williams has told the Federal Court that his attempts to disentangle the Washington H. Soul Pattinson and Brickworks crossshareholdings were driven by a desire to ‘‘improve the lot of minority shareholders’’, not boost his own fund performance.

 

The Australian

Page 10: The annual growth rate in government spending is on track to fall to the lowest levels in 50 years, according to Treasury records, which reveal the budget forecasts over the next four years will achieve a target not attained by a party in government since the Menzies era.

Page 11: Pauline Hanson’s One Nation was plunged into further chaos after senator Malcolm Robert’s senior media adviser Sean Black was yesterday arrested and charged with assault.

Queensland Premier Annastacia Palaszczuk is desperately seeking consensus on a redrawn royalties deal for Adani and other new miners, after a bruising factional battle stalled the $16.5 billion Carmichael mine.

A West Australian man had his status as guardian of a severely disabled man threatened if he did not agree to state authorities’ plans to privatise services as they prepared for a trial of the National Disability Insurance Scheme.

Page 19: Blackstone president and Costco director Tony James has warned that food retailers may be the only safe sector in the midst of the expansion of Amazon and Costco.

Page 20: Speculation is mounting that Alinta Energy is in the contest to buy the $1 billion Loy Yan B coalfired power station from French conglomerate Engie and Japan’s Mitsui, only weeks after Alinta was snapped up by Hong Kongbased investor Chow Tai Fook.

Page 21: The nation’s $300 billion retail sector was dealt another confidence-busting blow last night after the Australian arm of British fashion chain Topshop, as well as its Topman stores, collapsed.

Page 22: Electricity prices could rise again after the Federal Court knocked out proposed cuts to revenue that NSW networks can collect, setting a pricing precedent for grid operators in other states.

  

The West Australian

Page 12: The head of Australia’s biggest bank has warned of the consequences of the Federal Government’s proposed $6.2 billion bank tax, saying it will hurt the economy as well as mum and dad investors.

Page 13: Fashion chain Topshop Australia has collapsed after just six years, dealing a new blow to a hard-pressed retail sector already reeling from a string of high-profile failures.

Page 53: A profit downgrade by major shareholder and rival car dealer AP Eagers put Automotive Holdings Group under sharemarket pressure yesterday, partly overshadowing its purchase of a wholesale auction business.

A lack of pride and belief held by Australian industry had led the Federal Government in the past to favour overseas manufacturers for defence equipment, according to Austal chief executive David Singleton.

Former Rio Tinto boss Sam Walsh has again protested his innocence in connection with a bribery scandal in the West African nation of Guinea.

Page 54: Programmed is counting on the $29 million sale of half of its marine services unit to a global partner to help turn around the struggling business in a recovering industry.

Bankrupt former coal baron Nathan Tinkler and two of his closest business allies have been banned from managing a company for at least three years for their roles in the collapse of several businesses.

The onshore oil and gas industry needs to get the community behind fracking, the future of which in the State depends on the outcome of a McGowan Government inquiry, according to Mines and Petroleum Minister Bill Johnston.

Rio Tinto has reactivated long-delayed plans for its $US2.2 billion ($2.94 billion) Koodaideri iron ore project, 110km westnorth-west of Newman.

Page 55: Shares in Graphex jumped yesterday after the company pencilled in a financing and offtake deal with a Chinese syndicate — a key milestone in the development of its $US74 million Chilalo flake graphite project in Tanzania.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options