23/08/2017 - 06:45

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23/08/2017 - 06:45

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Threat won’t influence WA’s bank tax

The West Australian government says threats of a High Court challenge will not influence its deliberations over whether to include a copycat bank tax in the September 7 state budget. The Fin

 

Regulation of Western Power to remain local

Regulatory oversight of network operator Western Power will be kept in local hands under moves by Energy Minister Ben Wyatt to distance WA from the energy chaos engulfing the Eastern States. The West

 

Health chief exits amid tension talk

Senior bureaucrat Martin Bowles has resigned, leaving the Turnbull government to find someone else to head the politically sensitive Department of Health.  The Aus

 

Coates sale could set up $1bn Seven Group war chest

Coates Hire is expected to be sold for more than $2 billion, most likely to a trade buyer or private equity player, according to market sources, in a deal that could be finalised by February. The Aus

 

State Government backs city, warns councils on planning

The State Government has swung into action on “Project Perth”, backing private sector spending and well-designed high-density living in the centre and issuing a thinly veiled warning to local governments they will be made accountable if they don’t deliver. The West

 

Shorten says he junked dual citizenship in 2006

Labor leader Bill Shorten has told the Turnbull government to put up or shut up as he continued to reject its demands he prove he relinquished his dual British citizenship. The Fin

 

Costco to float online and watch pennies fly

Discounter Costco Wholesale plans to launch an online store in Australia in 12 to 18 months, extending its reach and adding to pressure on domestic retailers as Amazon enters the market. The Fin

 

Union pay rises exploit PM’s code

The construction union has exploited the Turnbull government’s new national building code to secure extra pay and penalty rates as high as 300 per cent, sparking warnings that the cost of commonwealth projects will jump by hundreds of millions of dollars. The Aus

 

Multiplex’s beach party

Top-tier construction company Multiplex is the frontrunner in the line-up of WA builders jostling for work on the yet-to-be approved $450 million, 43-level Scarborough twin towers. The West

 

The Australian Financial Review

Page 1: BHP is set to turbocharge shareholder returns after slashing its debt and promising to sell its shale business for a potential $US10 billion ($12.6 billion) after a campaign by activist US hedge fund Elliott Associates.

P3: Voluntary contributions into superannuation funds jumped by more than $12 billion to hit $19.5 billion in the three months to June 30 as retirement savers raced to beat the deadline on low-tax superannuation concessions.

P4: The West Australian government says threats of a High Court challenge will not influence its deliberations over whether to include a copycat bank tax in the September 7 state budget.

P5: Labor leader Bill Shorten has told the Turnbull government to put up or shut up as he continued to reject its demands he prove he relinquished his dual British citizenship.

P8: BHP Billiton’s decision to finally call an end to its disastrous shale investment in the US has been welcomed in the market but has raised questions whether it can achieve value for a business some put at more than $US11 billion.

P9: Ernst & Young has cut its gender pay gap a record 75 per cent over two years, with the pay gap for ‘‘like for like’’ roles now close to zero per cent for the first time.

P13: The big banks have fired several torpedoes towards the government’s regime to lift standards in the banking sector, warning it will blur regulatory responsibilities, confuse legal obligations and lacks procedural fairness by preventing court appeals.

P15: Discounter Costco Wholesale plans to launch an online store in Australia in 12 to 18 months, extending its reach and adding to pressure on domestic retailers as Amazon enters the market.

Amcor chief executive Ron Delia says the packaging giant will be untroubled by the structural shifts in e-commerce as online giants such as Amazon upend traditional business models, with demand rising for ‘‘smart’’ packaging.

 

The Australian

Page 1: The construction union has exploited the Turnbull government’s new national building code to secure extra pay and penalty rates as high as 300 per cent, sparking warnings that the cost of commonwealth projects will jump by hundreds of millions of dollars.

P2: Tax commissioner Chris Jordan has declared victory in the war on corporate tax avoidance, saying more than 1000 tax audits and reviews have delivered an additional $4 billion in assessments in the past year, adding that no further legislation is required and much more tax revenue will be generated in future.

P4: Commonwealth Solicitor-General Stephen Donaghue has conceded that Nationals senator Matt Canavan and Deputy Prime Minister Barnaby Joyce “are, or were, citizens of Italy and New Zealand respectively” in a government submission to the High Court.

Senior bureaucrat Martin Bowles has resigned, leaving the Turnbull government to find someone else to head the politically sensitive Department of Health.

P7: The federal government has attacked claims from Bill Shorten that Labor would deliver a National Broadband Network “prioritising fibre over copper” after the opposition was unable to provide details of homes impacted or how much it would cost.

P19: BHP Billiton has paved the way for increased dividends, cutting net debt by $US9.8 billion ($7.76bn) in the past year as commodity prices bounced back and declaring it will exit its maligned US shale oil and gas assets in a move analysts hope will raise $US10bn.

Investors continue to favour taking control of their own retirement savings by setting up a selfmanaged super fund, with savings ballooning to nearly $700 billion over the past year, delivering the sector more clout than industry or bank-backed retail funds.

Seven Group Holdings is exiting its long-term China play, agreeing to sell its WesTrac heavy machinery dealership in the country’s northern provinces for $540 million and planning to reinvest the proceeds back in Australia.

P20: Coates Hire is expected to be sold for more than $2 billion, most likely to a trade buyer or private equity player, according to market sources, in a deal that could be finalised by February.

 

The West Australian

Page 1: A key plank of WA’s waste management strategy is in disarray with household recycling rates in freefall despite rocketing landfill levies and ambitious environmental targets.

P4: The Turnbull Government has called on the High Court to decide the fate of MPs with dual citizenship doubts as quickly as possible, saying there is a “compelling public interest” for the matter to be heard next month to end the constitutional uncertainty sweeping Federal Parliament.

P7: Tech and internet giants Microsoft and Google have reached an undisclosed settlement with the Australian Taxation Office believed to be worth hundreds of millions of dollars.

P11: Craft beer is having its day in the sun with its surging popularity boosting the number of brew pubs such as West Leederville’s Nowhereman Brewing Co.

P18: The national teachers’ union has called on education ministers to abandon the rollout of online NAPLAN testing because of concerns it will disadvantage students with poor access to computers.

P25: Higher prices for iron ore and coal, a bigger dividend payout and a commitment to exit its US shale gas business have helped BHP assuage its fractured relationship with activist shareholder fund Elliott Management Corporation.

Regulatory oversight of network operator Western Power will be kept in local hands under moves by Energy Minister Ben Wyatt to distance WA from the energy chaos engulfing the Eastern States.

P28: The State Government has swung into action on “Project Perth”, backing private sector spending and well-designed high-density living in the centre and issuing a thinly veiled warning to local governments they will be made accountable if they don’t deliver.

Top-tier construction company Multiplex is the frontrunner in the line-up of WA builders jostling for work on the yet-to-be approved $450 million, 43-level Scarborough twin towers.

With the ink barely dry from his deal with Hawaiian to double the amount of co-working space on offer at Flux, incubator, collaborator and digital entrepreneur Brodie McCulloch has doubled his Spacecubed zone at 45 St Georges Terrace.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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