03/08/2017 - 06:44

Morning Headlines

03/08/2017 - 06:44

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GST war of words escalates

The State’s finances would have been better off with Federal Cabinet staying in Canberra and sending the cost of this week’s flights and hotels to WA, according to Mark McGowan. The West

 

Snap freeze order on Palmer luxury assets

Liquidators appointed by the Federal Government have sensationally applied to freeze hundreds of millions of dollars worth of Clive Palmer’s assets — including luxury boys’ toys and 15 properties — in a shock move to help recoup taxpayer money. The West

 

Making waves in the west

The Middle Eastern refugees have been moved out and earthmoving equipment brought in as billionaire Andrew Forrest gets under way with the controversial redevelopment of his mansion Tukurua, in the prestigious Perth beachside suburb of Cottesloe. The Aus

 

Joyce’s board nominee to water authority quits

A former lobbyist nominated by Deputy Prime Minister Barnaby Joyce to sit on the board of the Murray-Darling Basin Authority attended a meeting at which a NSW government official was recorded offering her and other irrigators sensitive data.The Fin

 

Labor tax hike on trusts ‘risks hurting economy’

The architect of the Howard government’s 1999 business tax review, John Ralph, has warned that Labor’s plan to lift taxation on trusts looks like a revenue grab that risks harming Australia’s competitiveness and fuelling more sophisticated forms of tax avoidance. The Aus

 

Harry drops prices in market ‘going down’

Australia’s biggest apartment builder, Harry Triguboff, has dropped prices for his new wave of apartments by 5 per cent over the past year, saying demand is strong but the crackdown by the banking regulator has taken buyers out of the market. The Aus

 

Dacian digs in at Laverton

Dacian Gold boss Rohan Williams has already turned his mind to expanding the resource at the company’s $200 million Mt Morgans project, 20km west of Laverton, eight months before the first gold is poured. The West

 

Rio hands out China bonanza

Rio Tinto chief executive Jean-Sebastien Jacques has delivered a bullish assessment of the outlook for the Chinese economy for the next two years as he rewarded investors with the biggest interim dividend in the miner’s history. The Fin

 

The Australian Financial Review

Page 1: Rio Tinto chief executive Jean-Sebastien Jacques has delivered a bullish assessment of the outlook for the Chinese economy for the next two years as he rewarded investors with the biggest interim dividend in the miner’s history.

Page 3: Investment banker John Wylie is adding another element to his philanthropic interests: a non-profit advisory group for charities.

Page 6: A former lobbyist nominated by Deputy Prime Minister Barnaby Joyce to sit on the board of the Murray-Darling Basin Authority attended a meeting at which a NSW government official was recorded offering her and other irrigators sensitive data.

Page 7: Commonwealth Bank of Australia, National Australia Bank and Westpac Group are tightening identity and financial checks as a federal taskforce pushes for tougher controls, including overhauling of Australian Business Licences.

Page 8: An angry Senate committee has resolved to call the remaining board members of CPA Australia to appear before them and explain their actions during the accounting body’s descent into a governance quagmire.

Page 10: Maritime unions are lining up to oppose the Maritime Union of Australia’s merger with the Construction, Forestry, Mining and Energy Union, fearing the new super union will encroach on their territory and dominate the offshore resources industry.

Page 13: Home buyers who are desperately trying to meet banks’ requirements for higher mortgage deposits may actually be injecting more risk into the housing market in the long term.

Exchanged traded fund giant ETF Securities will look to increase its assets under management in Australia with a mixture of new products targeting both high growth and stable income producing assets, including a push into robotics and infrastructure.

Page 15: Singapore commodities trader Noble Group will look to challenge a $US2.5 billion ($3.1 billion) capital raising by Yancoal, arguing it oppresses minority shareholders.

 

The Australian

Page 1: The architect of the Howard government’s 1999 business tax review, John Ralph, has warned that Labor’s plan to lift taxation on trusts looks like a revenue grab that risks harming Australia’s competitiveness and fuelling more sophisticated forms of tax avoidance.

Thousands of regional businesses that are reliant on farmers to buy their products will be hit by Labor’s planned trust tax changes, despite also being exposed to the volatility of the agriculture sector.

Page 3: One Nation has opened the door to supporting the Turnbull government’s media reform bill as Pauline Hanson’s party appeared to soften its position on an overhaul of laws originally designed for a pre-internet era.

Page 5: The peak airline pilots body has demanded the federal government require domestic airline passengers to produce photo identification before boarding aircraft, as part of a three-pronged strategy to tighten airport security.

Page 17: Rio Tinto has emphatically delivered on growing investor expectations for greater distributions from the big miners, with the resources giant deciding to pump some $US3 billion ($3.8bn) into dividends and share buybacks.

Australia’s biggest apartment builder, Harry Triguboff, has dropped prices for his new wave of apartments by 5 per cent over the past year, saying demand is strong but the crackdown by the banking regulator has taken buyers out of the market.

The Middle Eastern refugees have been moved out and earthmoving equipment brought in as billionaire Andrew Forrest gets under way with the controversial redevelopment of his mansion Tukurua, in the prestigious Perth beachside suburb of Cottesloe.

Page 19: Health insurer NIB has called on the Turnbull government to trial a “single payer” model for healthcare services, as it argues political courage is needed to address spiralling costs in the system.

 

The West Australian

Page 6: Colin Barnett has told a gathering of Liberal MPs that WA’s low GST share was the major reason for the State’s financial woes and a factor in his election loss.

The longest timber jetty in the world received a boost yesterday with the coalition announcing it would spend $1.5 million on an upgrade.

An Uber passenger levy remains a possibility in WA, according to Premier Mark McGowan.

Page 7: The State’s finances would have been better off with Federal Cabinet staying in Canberra and sending the cost of this week’s flights and hotels to WA, according to Mark McGowan.

Page 9: Liquidators appointed by the Federal Government have sensationally applied to freeze hundreds of millions of dollars worth of Clive Palmer’s assets — including luxury boys’ toys and 15 properties — in a shock move to help recoup taxpayer money.

Page 12: The WA TAB has defied ownership uncertainty and an economic downturn to pump a record $152.2 million into the State’s racing industry.

Page 41: Rio Tinto will hand out a record interim dividend and make an unexpected $US1 billion expansion of its share buyback program, driven mainly by the mining giant’s Pilbara iron ore business and the strong price it received for its product in the first half.

Aussie film producer Gary Hamilton knows all about juggling fragile Hollywood egos but these days he frets as much about where his films will sell.

Page 42: Embattled CBD office warriors are breathing a sigh of relief after Perth experienced the biggest fall in office vacancy rates of any Australian capital in the past six months.

A new $5 million research centre to boost WA grain crop productivity is to be set up at Murdoch University.

Dacian Gold boss Rohan Williams has already turned his mind to expanding the resource at the company’s $200 million Mt Morgans project, 20km west of Laverton, eight months before the first gold is poured.

 

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