18/08/2017 - 06:46

Morning Headlines

18/08/2017 - 06:46

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WA’s share of GST ‘in the black’

WA’s claims to being shortchanged by the GST system have been undermined by Victorian research that says WA is $25 billion in the black since Federation. The West

 

MP quits on ‘dictator’ Xenophon

In a shock move with implications for the next South Australian election, Nick Xenophon’s only state MP John Darley has quit the party, accusing the high-profile senator of being a “dictator”. The Aus

 

‘Brit’ Nash deepens PM’s pain

Malcolm Turnbull is facing an escalating Labor attack over the stability of his government after a third cabinet minister owned up to being a dual citizen by descent, shocking observers with another test in the High Court that could reshape the ministry. The Aus

 

Labor threatens more Joyce disruption

Key lower house independents have backed Labor’s demand that Deputy Prime Minister Barnaby Joyce stand down from cabinet and the leadership until his fate is decided by the High Court. The Fin

 

‘Disturbing’ call led to departure

Ousted road safety commissioner Kim Papalia complained about receiving a “disturbing” phone call from the Premier’s right-hand man Darren Foster before suddenly taking leave and being replaced. The West

 

World-first shark cable for Cottesloe

Cottesloe beach is likely to get the world’s first electromagnetic barrier to repel sharks after trials by the South African Government returned a 100 per cent success rate in turning away great white sharks. The West

 

BHP pushes go on $3b copper project

BHP will extend the life of its Spence open-cut copper mine in northern Chile by 50 years after approving a $US2.46 billion ($3.1 billion) spending plan for the project. The Fin

 

QBE tries investors’ patience over poorly performing unit

QBE Insurance Group chief executive John Neal has ruled out selling off the group’s ‘‘disappointing’’ emerging markets division, in the face of questions about the insurer’s consistently patchy global performance. The Fin

 

Telstra, News in Foxtel deal ahead of float

News Corp and Telstra are pushing ahead with plans to combine Foxtel and Fox Sports into a sports and entertainment pay-TV player ahead of a multi-billion dollar stock market listing.The Aus

 

The Australian Financial Review

Page 1: Telstra’s mum-and-dad shareholders have felt the pain of the federal government’s push to shore up the financial returns of the national broadband network, with the telecommunications giant slashing its dividend after revealing rising charges associated with the NBN rollout will blow a bigger than expected hole in its earnings.

P3: Andrew Forrest’s High Court victory in a long-running battle to stop mining on his family cattle station, Minderoo, has set an unexpected precedent that may leave other miners in Western Australia scrambling to secure their operating licences.

P4: Key lower house independents have backed Labor’s demand that Deputy Prime Minister Barnaby Joyce stand down from cabinet and the leadership until his fate is decided by the High Court.

P8: The National Union of Workers and United Voice have officially announced plans to develop a new super union by the end of the year whose size would surpass the proposed construction and maritime amalgamation.

P11: The number of legal and accounting firms structured as partnerships has fallen dramatically over the past decade as professionals overwhelmingly adopt corporate models to run their business.

A parliamentary committee is set to investigate the trail of government tech wrecks and digital transformation projects, after the Senate backed a push by Labor for a probe into the Coalition’s digital spending.

P15: Wesfarmers is cashed up to pursue acquisitions after delivering its strongest profit growth in at least six years, despite a slump in earnings at Coles and red ink at Bunnings’ British and Ireland operations.

A dispute between private equity firm Pacific Equity Partners and former PEP pair Anthony Kerwick and Rob Koczkar over access to documents has escalated to the Supreme Court.

P17: BHP will extend the life of its Spence open-cut copper mine in northern Chile by 50 years after approving a $US2.46 billion ($3.1 billion) spending plan for the project.

P19: QBE Insurance Group chief executive John Neal has ruled out selling off the group’s ‘‘disappointing’’ emerging markets division, in the face of questions about the insurer’s consistently patchy global performance.

 

The Australian

Page 1: Malcolm Turnbull is facing an escalating Labor attack over the stability of his government after a third cabinet minister owned up to being a dual citizen by descent, shocking observers with another test in the High Court that could reshape the ministry.

A deadlock in federal parliament has undercut hopes for more competitive bids to rescue the Ten Network today, with the Turnbull government unable to close a deal on its sweeping media reforms, leaving the industry in limbo.

Malcolm Turnbull has launched an all-out parliamentary assault on Bill Shorten’s personal integrity, accusing him of “unaccountable shifty conduct” for using union money on himself to advance his political career, and taking company money as a union leader in return for trading away workers’ penalty rates.

P2: A revival in the mining states of Queensland and Western Australia is bringing new momentum to the national economy, delivering more than half the jobs growth this year.

P5: The $22 billion National Disability Insurance Scheme is the furthest behind schedule it has been since a computer system meltdown at the start of transition last year, even as it passes a milestone in signing up 100,000 people for individual support.

In a shock move with implications for the next South Australian election, Nick Xenophon’s only state MP John Darley has quit the party, accusing the high-profile senator of being a “dictator”.

P17: News Corp and Telstra are pushing ahead with plans to combine Foxtel and Fox Sports into a sports and entertainment pay-TV player ahead of a multi-billion dollar stock market listing.

Dozens of mining licences around Western Australia are suddenly under a cloud, after billionaire mining magnate Andrew Forrest succeeded in having two would-be miners kicked off his Pilbara cattle station.

Wesfarmers’ once out-of-favour businesses — ranging from fertilisers, gas and coal to safety helmets and welding equipment — have emerged as unlikely heroes to rescue the conglomerate’s profitability after the flagship Coles supermarket division posted its first earnings slide in 10 years.

 

The West Australian

Page 9: Public school teachers have indicated they would consider a flat pay rise of $1000 a year, despite widespread discontent in their ranks, provided the State Government can stare down bigger claims from other public sector unions.

P11: They have had millions of dollars in specialist training, are used to working long hours under extreme stress and drilled to follow instructions without question.

The WA jobs market is in its strongest position in more than two years as the State’s unemployment queue shrinks and people find full-time work.

P16: Ousted road safety commissioner Kim Papalia complained about receiving a “disturbing” phone call from the Premier’s right-hand man Darren Foster before suddenly taking leave and being replaced.

P22: Cottesloe beach is likely to get the world’s first electromagnetic barrier to repel sharks after trials by the South African Government returned a 100 per cent success rate in turning away great white sharks.

P24: WA’s claims to being shortchanged by the GST system have been undermined by Victorian research that says WA is $25 billion in the black since Federation.

P26: Communications Minister Mitch Fifield has again failed to get the Federal Government’s media law reform package through the Senate, after negotiations with Nick Xenophon’s bloc stalled yesterday.

P69: Wesfarmers is digging in for a tougher haul in Britain, with management reluctant to be drawn on when Bunnings in the UK will start making money.

Australia’s second biggest gold miner Evolution Mining has made extending the life of its Kalgoorlie-Boulder operations a priority, allocating 40 per cent of its exploration budget for Mungari this financial year.

P71: Shares in Argosy Minerals took off yesterday after the aspiring lithium miner struck a $26 million funding and offtake deal with a Chinese battery company.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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