05/07/2017 - 06:50

Morning Headlines

05/07/2017 - 06:50

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Miners scramble to deal with news out of Africa

A swag of Perth-based explorers with projects in Tanzania were last night scrambling to make sense of new laws passed by the East African country’s parliament that threaten to scuttle their plans to mine in the nation. The West

 

Coles won’t cut pay rate below award

Coles has restarted enterprise bargaining after more than a year of resistance and, in a historic gesture, has committed to not reducing weekend pay below the award. The Fin

 

Liquidators hunt the Clives for $500m

Taxpayer-funded liquidators are suing Clive Palmer and his fugitive nephew Clive Mensink for almost $500 million, alleging they breached their directors’ duties, allowed Queensland Nickel to trade while insolvent, and owe other debts. The Aus

 

NBN costs ‘among world’s highest’

The costs of fibre-to-the-premises internet connections under the National Broadband Network are among the highest in the world — if not the highest — as the rollout fails to adopt new, cheaper technologies, an industry expert has told the Senate committee that oversees the NBN. The Aus

 

Dry winters to force $1b hit

A decision to build Perth’s third desalination plant may need to be taken within 18 months if the city’s dams fail to get any run-off from winter rains. The West

 

Chinese owner of Darwin port struggles with interest payments and heavily in debt

The new Chinese owner of Darwin Port is heavily indebted and has struggled to make interest payments on money borrowed to buy the lease, raising doubts over promises to upgrade the port and fund a new $200 million hotel on a nearby site. The Fin

 

Branson: Brexit is worst thing to happen to Europe in my life

Virgin Group founder Richard Branson will favour investments outside of Britain until the country’s decision to leave the European Union is either reversed, or softened to retain the common market. The Fin

  

I won’t be silenced, says Abbott

Tony Abbott says he will continue to speak his mind on the direction of the Liberal Party amid calls from senior Coalition figures to unite behind Malcolm Turnbull or risk undermining the government. The Aus

  

Four quit child welfare agency

Four top executives at the Department for Child Protection and a former public sector standards chief are among the latest departures from what the Opposition warns is an increasingly rudderless WA bureaucracy. The West

 

The Australian Financial Review

Page 1: Queensland has fast become the east coast’s mainstay for electricity, with new evidence showing the closure of the Hazelwood generator in Victoria has made the southern states much more reliant on the coal-dominated north-east.

The new Chinese owner of Darwin Port is heavily indebted and has struggled to make interest payments on money borrowed to buy the lease, raising doubts over promises to upgrade the port and fund a new $200 million hotel on a nearby site.

Ongoing wages growth weakness, a soft household sector and concerns about the currency are preventing the Reserve Bank of Australia from joining a growing offshore central banks shift towards monetary policy normalisation.

Page 3: Virgin Group founder Richard Branson will favour investments outside of Britain until the country’s decision to leave the European Union is either reversed, or softened to retain the common market.

Page 4: Coles has restarted enterprise bargaining after more than a year of resistance and, in a historic gesture, has committed to not reducing weekend pay below the award.

Page 8: Sydney property developer Peter Sleiman has been slapped with a $7 million tax bill and fines on the $8 million income on his family trust, after a tribunal found he claimed ‘‘implausible’’ tax deductions of 65 cars, $37,000 worth of fitness equipment and firearms on his property renting business.

Page 13: Coles managing director John Durkan is under pressure to step up investment in prices, labour, customer loyalty and marketing to avoid a prolonged sales and profit downturn after the worst supplier scorecard in six years.

Lachlan Murdoch and Bruce Gordon have asked the competition watchdog to pre-emptively examine their proposed acquisition of Ten Network ahead of potential changes to media ownership laws that could allow the billionaires to buy the broadcaster.

 

The Australian 

Page 1: Taxpayer-funded liquidators are suing Clive Palmer and his fugitive nephew Clive Mensink for almost $500 million, alleging they breached their directors’ duties, allowed Queensland Nickel to trade while insolvent, and owe other debts.

A culture of chronic compensation claims by public servants has been broken, the Turnbull government has declared, with its workplace insurer on track for a $1 billion saving as the number of claims plummets.

Page 3: The Australian Federal Police has launched an investigation into the leak of sensitive Medicare details, which were allegedly sold by criminals on the “dark web”.

Page 4: Tony Abbott says he will continue to speak his mind on the direction of the Liberal Party amid calls from senior Coalition figures to unite behind Malcolm Turnbull or risk undermining the government.

Page 7: The costs of fibre-to-the-premises internet connections under the National Broadband Network are among the highest in the world — if not the highest — as the rollout fails to adopt new, cheaper technologies, an industry expert has told the Senate committee that oversees the NBN.

Page 17: The Reserve Bank has shrugged off talk of higher interest rates, keeping the cash rate at record low levels for the 11th month in a row and sparking a sharp fall in the dollar, as it assesses developments in the housing market.

 

The West Australian

Page 7: A worker has been killed at a Rio Tinto mine site in the Pilbara.

Page 8: A decision to build Perth’s third desalination plant may need to be taken within 18 months if the city’s dams fail to get any run-off from winter rains.

Page 11: City of Perth councillors will be free to speak to the media, after they voted last night to lift a ban preventing them speaking publicly on council matters.

Page 15: Criminals caught selling Australians’ Medicare card details could face little more than a fine, amid growing concerns the Federal Government needs to do more to protect the security of sensitive information held by departments.

Page 17: Four top executives at the Department for Child Protection and a former public sector standards chief are among the latest departures from what the Opposition warns is an increasingly rudderless WA bureaucracy.

Page 20: Deposed WA parliamentary speaker Michael Sutherland is eyeing a political comeback after confirming his candidacy to fill the State’s Liberal Senate vacancy.

Page 29: A swag of Perth-based explorers with projects in Tanzania were last night scrambling to make sense of new laws passed by the East African country’s parliament that threaten to scuttle their plans to mine in the nation.

Page 31: Rio Tinto is facing a disgruntled workforce in the Pilbara, where some staff believe they face slashed superannuation contributions after moving to a new labour contractor.

Woodside is hoping to open the marine industry’s eyes to the benefits of liquefied natural gas as a fuel source as the company pushes ahead with plans to power the Pilbara’s iron ore and oil and gas sectors with LNGfired engines.

Page 67: Singaporean sovereign fund GIC is believed to have swooped on the battered Perth office market, making an off-market $180 million-plus play for A-grade office tower The Quadrant.

The ambitious $110 million SubiXO, a Subiaco site with hotel, cinemas, offices and food court, is edging closer to completion, with Ace Cinemas expected to reopen in December.

Page 68: Stan Perron’s Perron Group has declared that it will be taking a close interest in Vicinity Centres’ $600 million sale of half shares in two shopping centres, Rockingham Centre and Grand Plaza in Brisbane.

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