AGL Energy Limited (AGL):
AGL Energy has put a proposal for a new gas-fired power plant in South Australia and new investment in wind, solar and storage on ice because the state’s $550 million energy plan includes plans for a government owned gas generator. Chief executive Andy Vesey told investors late last week that the state-owned, 250 megawatt gas plant was the ‘‘most problematic’’ element of the energy plan, signalling it undermined AGL’s own investment ambitions. AGL has committed to spending $15 million to $20 million over the next two years to investigate the viability of a $200 million to $300 million LNG import terminal and is due to select a site by mid-year. Construction would start in 2019 and the terminal would be in operation by 2020 or 2021.
Australia and New Zealand Banking Group (ANZ):
A new industry group to represent the emerging regulatory technology, or regtech, industry has been formed in order to encourage collaboration between start-ups and regulated companies as the rise of artificial intelligence technology points to a new age of proactive compliance monitoring. Lisa Schutz, the managing director of Verifier, which makes income verification software, said ‘‘there is some great talent’’ in Australia. ‘‘We would love it if we could stay here and export, rather than move.”
BHP Billiton Limited (BHP):
BHP Billiton has aggressively opened the formal legal defence of the eight present and former executives and managers charged with qualified homicide in the wake of the Samarco tailings dam disaster. The petition, which is a tactic frequently employed in the Brazilian courts, was lodged in the name of one of the three Brazilian employees of BHP who were charged by prosecutors last October. Success in this one case would most likely conclude the prosecution of the other seven, and potentially close the door on similar indictments issued against executives at Samarco and the iron ore operator’s other shareholder, Vale. Rio is the senior owner of the richest undeveloped copper in the US but remains mired in local, state and federal politics. But there is a view that the Trump ascendancy has created opportunity and that the window for progress might be open for maybe two years. So the time to push on is now.
Mirvac Group (MGR):
Major residential developers have endorsed the latest efforts to curb risky home lending that, they say, will strengthen the financial system without crimping their sales. Among new measures unveiled by the Australian Prudential Regulation Authority last week is a limit on the flow of new interest-only lending to 30 per cent of total new residential mortgage lending. That is expected to have most impact on investors, who favour interest-only loans because they allow for larger tax concessions through negative gearing. While agreeing they had exposure to the investor market, the largest developers sought to play down the effect of the curbs on their business. Diversified developer and investor Mirvac, which achieved a record $3.1 billion in pre-sales for the first half of the year, ultimately sells about a quarter of its output – from apartments and housing estates – to investors.
Rio Tinto Limited (RIO):
As Rio Tinto slowly moves back into growth mode, Bold Baatar, the miner’s new energy and minerals chief, has been given a brief to search for investments and tie-ups in new and emerging commodities that will benefit from global trends, such as the push towards renewable energy. A new Rio Tinto Ventures business has been formed to draw on the miner’s recent work on what it calls “megatrends” in commodities demand and will be prepared to look at smaller-scale opportunities. If successful, the plan could further differentiate Rio from its major peer, BHP Billiton, which under chief executive Andrew Mackenzie is firmly focused on large projects in four key commodities: iron ore, coal, copper and petroleum. “We’re at a stage in the cycle where we can look at growth options. We have a pretty healthy balance sheet and cashflow situation and we want to make sure we are looking to bring in attractive shareholder value-creating growth options,” Mr Baatar said.
(Source: AIMS)
AGL Energy has put a proposal for a new gas-fired power plant in South Australia and new investment in wind, solar and storage on ice because the state’s $550 million energy plan includes plans for a government owned gas generator. Chief executive Andy Vesey told investors late last week that the state-owned, 250 megawatt gas plant was the ‘‘most problematic’’ element of the energy plan, signalling it undermined AGL’s own investment ambitions. AGL has committed to spending $15 million to $20 million over the next two years to investigate the viability of a $200 million to $300 million LNG import terminal and is due to select a site by mid-year. Construction would start in 2019 and the terminal would be in operation by 2020 or 2021.
Australia and New Zealand Banking Group (ANZ):
A new industry group to represent the emerging regulatory technology, or regtech, industry has been formed in order to encourage collaboration between start-ups and regulated companies as the rise of artificial intelligence technology points to a new age of proactive compliance monitoring. Lisa Schutz, the managing director of Verifier, which makes income verification software, said ‘‘there is some great talent’’ in Australia. ‘‘We would love it if we could stay here and export, rather than move.”
BHP Billiton Limited (BHP):
BHP Billiton has aggressively opened the formal legal defence of the eight present and former executives and managers charged with qualified homicide in the wake of the Samarco tailings dam disaster. The petition, which is a tactic frequently employed in the Brazilian courts, was lodged in the name of one of the three Brazilian employees of BHP who were charged by prosecutors last October. Success in this one case would most likely conclude the prosecution of the other seven, and potentially close the door on similar indictments issued against executives at Samarco and the iron ore operator’s other shareholder, Vale. Rio is the senior owner of the richest undeveloped copper in the US but remains mired in local, state and federal politics. But there is a view that the Trump ascendancy has created opportunity and that the window for progress might be open for maybe two years. So the time to push on is now.
Mirvac Group (MGR):
Major residential developers have endorsed the latest efforts to curb risky home lending that, they say, will strengthen the financial system without crimping their sales. Among new measures unveiled by the Australian Prudential Regulation Authority last week is a limit on the flow of new interest-only lending to 30 per cent of total new residential mortgage lending. That is expected to have most impact on investors, who favour interest-only loans because they allow for larger tax concessions through negative gearing. While agreeing they had exposure to the investor market, the largest developers sought to play down the effect of the curbs on their business. Diversified developer and investor Mirvac, which achieved a record $3.1 billion in pre-sales for the first half of the year, ultimately sells about a quarter of its output – from apartments and housing estates – to investors.
Rio Tinto Limited (RIO):
As Rio Tinto slowly moves back into growth mode, Bold Baatar, the miner’s new energy and minerals chief, has been given a brief to search for investments and tie-ups in new and emerging commodities that will benefit from global trends, such as the push towards renewable energy. A new Rio Tinto Ventures business has been formed to draw on the miner’s recent work on what it calls “megatrends” in commodities demand and will be prepared to look at smaller-scale opportunities. If successful, the plan could further differentiate Rio from its major peer, BHP Billiton, which under chief executive Andrew Mackenzie is firmly focused on large projects in four key commodities: iron ore, coal, copper and petroleum. “We’re at a stage in the cycle where we can look at growth options. We have a pretty healthy balance sheet and cashflow situation and we want to make sure we are looking to bring in attractive shareholder value-creating growth options,” Mr Baatar said.
(Source: AIMS)
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