13/09/2017 - 06:46

Morning Headlines

13/09/2017 - 06:46

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Morning Headlines

$171bn cash cow

WA taxpayers have pumped $171 billion into running the Federation over the past decade as almost every other State and Territory has enjoyed an economic free ride on the State's coat-tails. The West

 

Mine workers back in demand

There is more evidence of a resurgence in the resources sector with a report out today showing a 30 per cent rise in WA job vacancies in the past year. The West

 

KordaMentha ‘poisoned’ Ten staff

KordaMentha has been accused of ‘‘poisoning’’ Network Ten staff against a competing bid from Lachlan Murdoch and Bruce Gordon, a court has heard. The Fin

 

Prime City Link sites to lure big investors

The Metropolitan Redevelopment Authority is putting two lots on the market at Perth’s City Link project. The West

 

ABCC chief admits to Fair Work breach

Australian Building and Construction Commission director Nigel Hadgkiss is facing thousands of dollars in penalties after he admitted to recklessly misrepresenting union rights to employers for more than two years. The Fin

 

PM’s new baseload plan

The federal government has confirmed the Clean Energy Target as proposed by Chief Scientist Alan Finkel will be overhauled and replaced with a policy that will place much greater emphasis on coal-fired baseload power and possibly a slower transition to renewable energy. The Fin

 

Deal to bring on media reform

A last-minute deal to help small and regional news outlets has cleared the way for the Turnbull government’s sweeping media reforms in a big advance agreed with key Senate powerbroker Nick Xenophon last night. The Aus

 

QBE chief out as investors revolt

John Neal, chief executive of global insurance giant QBE, has been forced to resign amid a shareholder revolt following a string of profit downgrades and a boardroom scandal that saw his pay docked by $550,000 earlier this year. The Aus

 

Price ‘gouge’ on private patients

Confirmation by Australia’s medical device industry that it slugs private patients a higher fee for some devices than it charges public hospitals has added fuel to calls for reform of the system. The Aus

 

The Australian Financial Review

Page 1: The federal government has confirmed the Clean Energy Target as proposed by Chief Scientist Alan Finkel will be overhauled and replaced with a policy that will place much greater emphasis on coal-fired baseload power and possibly a slower transition to renewable energy.

Mounting shareholder frustration has cost QBE Insurance Group boss John Neal his job, but there are doubts incoming chief executive and former ‘‘numbers man’’ Pat Regan will be able to quickly resurrect the still-struggling global insurer.

P3: A broken mortgage broker remuneration model and irresponsible home lending practices raise the possibility of a subprime mortgage crisis, Australian Securities and Investments Commission chairman Greg Medcraft has warned.

P6: Growing business angst over the Turnbull government’s increasing interventionism and attacks on business sectors such as banks, galloping energy costs, and squeezed margins are being blamed for a surprise slump in corporate sentiment.
P9: Members of a Senate economics committee have had a taste of what it is like to be a CPA Australia member seeking answers from the accounting body and they are not impressed.
P10: Australian Building and Construction Commission director Nigel Hadgkiss is facing thousands of dollars in penalties after he admitted to recklessly misrepresenting union rights to employers for more than two years.

P15: KordaMentha has been accused of ‘‘poisoning’’ Network Ten staff against a competing bid from Lachlan Murdoch and Bruce Gordon, a court has heard.

The Australian

Page 1: EnergyAustralia has warned it could be forced to shut one of the nation’s newest and most efficient black-coal-fired power stations supplying up to 1.2 million customers in NSW, following a Court of Appeal decision it claims has threatened its only supply of coal to the plant.

A last-minute deal to help small and regional news outlets has cleared the way for the Turnbull government’s sweeping media reforms in a big advance agreed with key Senate powerbroker Nick Xenophon last night.

P3: The private health insurance exodus is delivering more than $1 billion in unanticipated rebate savings for the Turnbull government even as it tries to stem the flow of patients to the public sector by making premiums more affordable.

P4: Major disability service providers such as CatholicCare Sydney are shutting down or getting out of the business because they cannot make a profit under a pricing regime set by the $22 billion National Disability Insurance Scheme.

P8: Australian Building and Construction Commissioner Nigel Hadgkiss has sparked fresh union calls for his resignation after admitting he contravened the Fair Work Act, did not read legislation and ignored staff concerns.

P19: John Neal, chief executive of global insurance giant QBE, has been forced to resign amid a shareholder revolt following a string of profit downgrades and a boardroom scandal that saw his pay docked by $550,000 earlier this year.

Ten Network administrators KordaMentha acted unlawfully when deciding to ask creditors in the broadcaster to accept or reject a takeover offer by US media giant CBS, a court has heard.

P21: Confirmation by Australia’s medical device industry that it slugs private patients a higher fee for some devices than it charges public hospitals has added fuel to calls for reform of the system.

 

The West Australian

Page 1: WA taxpayers have pumped $171 billion into running the Federation over the past decade as almost every other State and Territory has enjoyed an economic free ride on the State's coat-tails.

P4: WA’s biggest public high schools will lose more than $1000 of funding for every student they enrol above 1200 students under change to Education Department’s funding.

P5: One of Australia’s most senior business leaders says payroll tax is a “dud tax” that kills jobs but has backed efforts by WA Treasurer Ben Wyatt to fix a legacy of “profligacy”.

P9: The hunt is on within the Labor Government for a mole after at least two sets of internal documents were leaked to the Liberal Party.

P11: The Federal Government will forge ahead with new laws to stop detainees in immigration centres having access to mobile phones after the Federal Court blocked the Australia Border Force from implementing the controversial ban earlier this year.

P14: There is more evidence of a resurgence in the resources sector with a report out today showing a 30 per cent rise in WA job vacancies in the past year.

P18: WA university students have racked up more than $4 billion in unpaid student loans, figures show.

P65: Provisional liquidators suspect directors and executives of failed builder-developer Diploma Group may have broken the law but have not made any conclusions, according to documents submitted to the Federal Court.

Wesfarmers’ legion of WA shareholders is facing a dividend cut of almost 1¢ a share courtesy of the decision by the McGowan Government to hike payroll tax rates in last week’s Budget, the conglomerate’s boss says.

P68: Lithium players have enjoyed strong gains this week after the government of the world’s most populated country indicated it would ban petrol and dieselpowered vehicles.

P69: The Metropolitan Redevelopment Authority is putting two lots on the market at Perth’s City Link project.

P71: Stubbornly high vacancy rates, subsidised rents and the absence of an economic stimulus on the horizon posed significant disincentives for potential Perth property investors.

P72: Apartment developer Finbar has taken home the UDIA WA Award for Excellence in the high-density category for its Concerto apartments in Adelaide Terrace.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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