EnergyAustralia eyes $500m-plus gas deal with Twiggy’s terminal
EnergyAustralia is poised to sign a gas purchase deal worth $500 million or more with the Andrew Forrest-backed Port Kembla LNG import terminal in what looks set to be the first confirmed customer for the controversial project. The Fin
Palmer tells CITIC to pay ‘fair’ $750m
Clive Palmer has indicated he is willing to settle a bitter dispute with CITIC Limited over the future of its wastebound magnetite iron ore operations in Western Australia for about $750 million and again warned the state’s Labor government not to intervene on behalf of the Chinese conglomerate. The Fin
Property primed for rebound
The nation’s housing market is set to be reignited with a stimulus package focused on winding back lending restrictions and lower interest rates fuelling economic growth, in tandem with tax cuts and increased infrastructure spending. The Aus
RBA calls for help on rate cut
The Reserve Bank of Australia has flagged interest rates will likely be cut next month and placed pressure on the Morrison government to join in the heavy lifting by introducing structural reform and more spending on infrastructure. The Fin
Huawei lacks answers as ‘tech cold war’ confusion heats up
Huawei has failed to answer key questions over whether its smartphones will continue to have full access to Google’s operating system Android, despite issuing a statement reassuring customers that all existing and in-store devices will operate as normal. The Fin
NRW pegs out a $600m claim on BGC Contracting
The $1 billion mining services provider NRW Holdings is believed to be in advanced talks to buy BGC Contracting, which is estimated to be worth up to $600 million. The Aus
Silicon Valley legend backs rising Perth star
A Silicon Valley legend with a Midas touch has backed a new $US70 million ($101.5 million) round of funding that has revalued Perth-born design and publishing platform Canva at more than $3 billion. The West
Resources drive office upswing
Significant numbers of resource companies are expanding their offices and taking space off the sublease market, in a further sign of the improving economy. The West
The Australian Financial Review
Page 1: The Reserve Bank of Australia has flagged interest rates will likely be cut next month and placed pressure on the Morrison government to join in the heavy lifting by introducing structural reform and more spending on infrastructure.
Page 2: Huawei has failed to answer key questions over whether its smartphones will continue to have full access to Google’s operating system Android, despite issuing a statement reassuring customers that all existing and in-store devices will operate as normal.
Page 3: Activists are disappointed after the majority of large superannuation funds failed to support shareholder resolutions on environmental, social and governance issues last year.
Page 4: First home buyers have been given a leg-up into the property market after the prudential regulator signalled the end of the lending requirement that had all borrowers assessed against their ability to repay a loan at 7.25 per cent.
Page 6: The Morrison government insists income tax cuts it took to the election will be delivered but it concedes it will not keep its promise to legislate them before the end of the financial year.
Page 10: Clive Palmer has indicated he is willing to settle a bitter dispute with CITIC Limited over the future of its wastebound magnetite iron ore operations in Western Australia for about $750 million and again warned the state’s Labor government not to intervene on behalf of the Chinese conglomerate.
Page 16: EnergyAustralia is poised to sign a gas purchase deal worth $500 million or more with the Andrew Forrest-backed Port Kembla LNG import terminal in what looks set to be the first confirmed customer for the controversial project.
Page 18: BHP has raised its expectations for electric vehicle sales and market penetration, but warns the electrification of the transport sector will proceed only as fast as the development of charging infrastructure.
Page 19: Westpac is likely to switch on Apple Pay for its customers soon, according to investors and analysts who agreed that the bank risked losing market share so long as it remained the sole major bank without the mobile payment service.
Page 21: Testing giant ALS argues a surprise dip in the flow of mining samples to its labs will be overpowered by long-term demand for resources.
Seven West Media has blamed a soft advertising market and uncertainty surrounding the federal election for a lower-than-expected profit.
The Australian
Page 1: The nation’s housing market is set to be reignited with a stimulus package focused on winding back lending restrictions and lower interest rates fuelling economic growth, in tandem with tax cuts and increased infrastructure spending.
Page 4: Anthony Albanese has ramped up his bid to become Labor’s next leader and is assembling a team of volunteers to run social media and direct-engagement campaigns aimed directly at ordinary rank-and-file members of the party.
Page 6: Former senior ACTU official Tim Lyons has criticised the union movement’s “nebulous” Change the Rules campaign, declaring there had been millions of dollars spent by unions and “there’s absolutely nothing to show for it”.
Page 18: The $1 billion mining services provider NRW Holdings is believed to be in advanced talks to buy BGC Contracting, which is estimated to be worth up to $600 million.
Page 19: Bunnings will release its new online click-and-collect service around Australia at a faster pace than investors and the market were anticipating.
Page 21: Home loan arrears will “remain elevated” over the next 12 months, buoyed by factors including stagnant wage growth, according to S&P Global Ratings.
Page 26: Universities have congratulated Scott Morrison on his election win and are calling on the government to provide sufficient funding to meet skilled workforce needs.
The West Australian
Page 4: WA public schools issued more than 20,000 suspensions for behaviour such as physical aggression, verbal abuse, threats and intimidation last year, figures reveal.
Vegan activists trespassing on WA farms and harassing Perth restaurant diners are being told they are following in the footsteps of Martin Luther King Jr and that “activism, not veganism” is the only way to give animals “autonomy over their own bodies”.
Page 6: Mark McGowan says the Government has reached an out-of-court settlement with former WA Japan trade official Craig Peacock to return $540,000 to the State following a corruption inquiry.
Page 7: Ken Wyatt said yesterday he welcomed a move by the City of Fremantle to consider giving the port city, the Swan River and other major landmarks “dual” names.
Page 8: Half of Australian university graduates in major fields of study are set to miss out on a job as graduates outstrip work supply, an analysis shows.
Page 17: Children are faring worse than adults this flu season, with new data revealing the number of paediatric influenza cases this year is more than three times that of last year.
Business: A Silicon Valley legend with a Midas touch has backed a new $US70 million ($101.5 million) round of funding that has revalued Perth-born design and publishing platform Canva at more than $3 billion.
Rare earths miner Lynas Corp won’t be drawn on a timeframe for choosing a WA site for the upstream processing it plans to relocate from a heavily scrutinised plant in Malaysia.
Backers of a controversial pipe bundling facility in the Exmouth Gulf have resubmitted an application to the State’s environmental watchdog, days after the previous plan was dumped.
Chinese investment in Australia is in freefall, adding to Prime Minister Scott Morrison’s economic challenges at a time he’s trying to repair relations with its biggest trading partner.
A third animal welfare issue has emerged on an indigenous-run WA pastoral station, however cattle deaths have been minimised after early involvement from State Government officials.
Passenger traffic within Western Australia to resources centres is surging as the green shoots of a recovery take root. Figures just released by the Bureau of Infrastructure, Transport and Regional Economics for the year ended March 31 show traffic between Perth and Kalgoorlie was up 15.4 per cent, Newman 8.3 per cent, Port Hedland 7.6 per cent and Karratha 2.2 per cent.
Property: Significant numbers of resource companies are expanding their offices and taking space off the sublease market, in a further sign of the improving economy.
