01/08/2017 - 06:47

Morning Headlines

01/08/2017 - 06:47

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Watchdog probe into Synergy over prices

Electricity provider Synergy could be hit with fines totalling hundreds of thousands of dollars after the economic watchdog yesterday alleged it may have abused its market power. The West

 

Twiggy in rugby fight for survival

Andrew Forrest has provided a dramatic twist in the race to chop one of the local Super Rugby teams, throwing his voluble weight and potentially some money behind the case for Perth’s Western Force to survive the cut. The Fin

 

Provisional visas in mix for residency reform

The Coalition is considering forcing all migrants seeking permanent residency to spend time in Australia on provisional visas as part of streamlined measures that would cut costs. The Aus

 

New-home grant brings June rush

A last-minute scramble to get the $5,000 first-homebuyer boost grant before it expired in June helped increase new home sales by more than 20 per cent, according to statistics. The West

 

Shorten ‘lie’ on growth exposed

Corporate Australia has scolded Bill Shorten for misleading voters about the impact of company tax cuts, while the miners have warned the opposition to keep its hands off their diesel fuel rebate as Labor looks for revenue as part of its campaign to tackle inequality. The Fin

 

Former Aust Post boss joins BCG Digital Ventures

Ex-Aust Post boss joins BCG Digital Ventures Ahmed Fahour, who has joined BCG Digital Ventures as non-executive chairman for Asia, said the future of e-commerce will rely on trusted digital identity and his new role advising the global venture capitalist, part of Boston Consulting Group, will place him at the forefront of blockchain being rolled into some of the world’s largest companies. The Fin

 

Leaders urged to win back public trust

The chief executive of the nation’s biggest accounting firm says corporate Australia must better communicate its contribution to economic growth to confront the “erosion of trust’’ with the public that has worsened over the past year. The Aus

 

Rio’s chance to reward investors with jump in returns

When Rio Tinto opens the resources sector reporting season tomorrow, the focus will be on increased cash returns, not governance issues, even after Rio’s Papua New Guinea problems were upgraded to a corruption probe last week and its lead independent director recently stepped down over separate fraud charges. The Aus

 

Turnbull in campaign mode on trip to WA

School visits, train rides and a barrage of selfies — Prime Minister Malcolm Turnbull has spent his first day of a week-long visit to WA in full campaign mode. The West

 

The Australian Financial Review

Page 1: Corporate Australia has scolded Bill Shorten for misleading voters about the impact of company tax cuts, while the miners have warned the opposition to keep its hands off their diesel fuel rebate as Labor looks for revenue as part of its campaign to tackle inequality.

Cochlear chief executive Chris Smith’s departure after just two years follows a failed understanding that the Denver, Colorado-based executive would move to Australia, chairman Rick Holliday-Smith said yesterday.

Page 3: PwC’s focus upon building the ‘‘greatest depth and breadth’’ of service offerings of any firm in Australia, and paranoia about competitors, has helped it boost revenue and partner numbers, according to CEO Luke Sayers.

Andrew Forrest has provided a dramatic twist in the race to chop one of the local Super Rugby teams, throwing his voluble weight and potentially some money behind the case for Perth’s Western Force to survive the cut.

Page 6: Migrants face probation to prove they can integrate into the community and not be a drain on taxpayers before being granted permanent residency under an overhaul of the visa system, the Turnbull government has confirmed.

Page 7: NBN chief executive Bill Morrow has hit out at the internet service providers reselling broadband packages, blaming a market share ‘‘land grab’’ for the growing number of dissatisfied customers.

Page 10: The Federal Circuit Court has blasted the Construction, Forestry, Mining and Energy Union for taking part in ‘‘unconscionable’’ conduct when it coerced builder John Holland to go against its safety obligations through unlawful industrial action.

Page 13: Ex-Aust Post boss joins BCG Digital Ventures Ahmed Fahour, who has joined BCG Digital Ventures as non-executive chairman for Asia, said the future of e-commerce will rely on trusted digital identity and his new role advising the global venture capitalist, part of Boston Consulting Group, will place him at the forefront of blockchain being rolled into some of the world’s largest companies.

Page 19: Quintis has confirmed the worst fears of bondholders and will miss its interest payment due on Tuesday after protracted negotiations around a recapitalisation failed to deliver a result in time.

 

The Australian

Page 1: The Bureau of Meteorology has ordered a full review of temperature recording equipment and procedures after the peak weather agency was caught tampering with cold winter temperature logs in at least two locations.

Page 2: The ABC’s taste for cherrypicking commercial deals is threatening the survival of media organisations, the chief executive of Australian Associated Press has warned.

Page 3: Private health insurance is on track to become unaffordable for one in five policyholders, the peak industry body warns, as its research identifies a system under stress.

Page 4: The Coalition is considering forcing all migrants seeking permanent residency to spend time in Australia on provisional visas as part of streamlined measures that would cut costs.

Labor’s assault on higher income taxpayers would raise $10.8 billion over the next four years and $76bn over the next decade, but the policies have sparked an attack from business leaders over Bill Shorten’s focus on income redistribution at the expense of growth.

Malcolm Turnbull has downplayed fears the Liberal Party is heading for disaster in Western Australia at the next federal election unless the GST distribution system is overhauled, amid claims the state is facing a further $2 billion revenue hit.

Page 17: The chief executive of the nation’s biggest accounting firm says corporate Australia must better communicate its contribution to economic growth to confront the “erosion of trust’’ with the public that has worsened over the past year.

When Rio Tinto opens the resources sector reporting season tomorrow, the focus will be on increased cash returns, not governance issues, even after Rio’s Papua New Guinea problems were upgraded to a corruption probe last week and its lead independent director recently stepped down over separate fraud charges.

 

The West Australian

Page 6: School visits, train rides and a barrage of selfies — Prime Minister Malcolm Turnbull has spent his first day of a week-long visit to WA in full campaign mode.

WA Treasurer Ben Wyatt will confront his Federal counterpart Scott Morrison today over WA’s share of the GST as figures show the State Budget is losing $900 million a month to revenue write-downs.

Page 7: Young unemployed people will have access to up to 10,000 internships in the country’s pubs and clubs under a deal to be unveiled by Prime Minister Malcolm Turnbull today.

Defence Industry Minister Christopher Pyne has defended WA’s share of the lucrative national shipbuilding program as he toured Henderson companies yesterday.

Page 8: The tax office has revealed thousands of high-income Australians are using trusts to sneak into lower tax thresholds, backing claims by the Labor Party that discretionary trusts are being used to avoid tax.

Page 11: A last-minute scramble to get the $5000 first-homebuyer boost grant before it expired in June helped increase new home sales by more than 20 per cent, according to statistics.

Page 14: Les Murray, Australian soccer’s great advocate and broadcasting voice of a generation, died yesterday aged 71 after a battle with illness.

Page 20: Electricity provider Synergy could be hit with fines totalling hundreds of thousands of dollars after the economic watchdog yesterday alleged it may have abused its market power.

The organisers of the popular Kalgoorlie-Boulder mining conference may not think so, but their decision to drop the welcome to country ceremony from this year’s gathering has sent a message.

Page 45: Shares in Bryah Basin explorer Auris Minerals soared 35 per cent yesterday after it likened the mineralisation found in drilling at its Forrest project to the massive sulphides discovered at Sandfire Resources’ neighbouring DeGrussa deposit.

Shares in AVZ Resources continued their stellar run yesterday after its strong gains on Friday on the back of encouraging drilling results from its Manono lithium project in the Democratic Republic of Congo.

Sandalwood grower Quintis will miss a $US10.9 million ($13.7 million) interest payment due to noteholders today and is seeking a waiver to avoid being put into default.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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