18/09/2017 - 06:46

Morning Headlines

18/09/2017 - 06:46

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Morning Headlines

Payroll tax dodge

The State Government is considering tightening payroll tax exemptions amid concerns training organisations are promoting tax minimisation by signing up high-paid workers and managers as trainees. The West

 

Union fines ‘lower under ALP’

Business and the building industry yesterday criticised federal Labor after the party confirmed the CFMEU would face lesser penalties for unlawful blockades under Bill Shorten’s policies. The Aus

 

Durkan sets up Coles for growth

Coles’ John Durkan makes changes to drive growth Coles boss John Durkan has unveiled the supermarket chain’s new structure to support growth plans that could include potential acquisitions, after naming finance and merchandise director Chris Nicholas as chief financial officer who will oversee business development opportunities. The Aus

 

Fans to face body scans at stadium

Sports and concert fans face full body scans en masse before arriving at the new Perth Stadium under the facility’s next-generation security protocols. The West

 

Doors stay open for Diggers

The future of the Diggers and Dealers Mining Forum has been shored up after the McGowan Government negotiated a deal to keep the doors open at the Goldfields Arts Centre — the only venue in the town big enough to accommodate the world-famous resources conference. The West

 

Small banks aim at APRA

The chief executives of Australia’s two largest regional banks have said the regulators’ tough lending rules could actually be curbing competition, contrary to the regulators’ stated objectives, and called for more discussion of their role. The Fin

 

BDO merger at risk over debt

The merger plan of the Australian offices of mid-tier accounting firm BDO is under threat because non-Queensland partners do not want to take on debt they believe to be on the books of the Brisbane office. The Fin

 

Macquarie in push for retail customers

Macquarie is rolling out the Australian market’s first open banking platform to allow its customers to securely move data to fintech start-ups and other technology companies. The Fin

 

AGL to net $500m solar boost

Australians are on track to pay more than $500 million to AGL to fund its flagship solar generators, as the energy giant prepares to shut down its Liddell coal power station, a move that has prompted warnings of a power shortfall that could lead to blackouts and price hikes. The Aus

 

The Australian Financial Review

Page 1: The chief executives of Australia’s two largest regional banks have said the regulators’ tough lending rules could actually be curbing competition, contrary to the regulators’ stated objectives, and called for more discussion of their role.

Treasurer Scott Morrison believes China’s ability to safely defuse its growing debt burden has improved after seeking personal assurances from one of Beijing’s most senior leaders that deleveraging won’t derail the best synchronised global economic upswing this decade.

P3: The legalisation of equity crowdfunding has met with enthusiasm from those hoping to raise money with it, but financial planners say it will be years before it is taken seriously by investors.

P4: Treasurer Scott Morrison has lashed out at the property sector and the Labor opposition saying they are effectively demanding for developers a tax concession that would be out of reach for most other Australian investors.

P5: Australian business risks missing the dramatic economic upheaval and opportunity that will be thrown up by Asia’s rapidly ageing population, which will cut demand for resources in favour of services such as health care, report by Deloitte warns.
P7: The merger plan of the Australian offices of mid-tier accounting firm BDO is under threat because non-Queensland partners do not want to take on debt they believe to be on the books of the Brisbane office.

P13: Macquarie is rolling out the Australian market’s first open banking platform to allow its customers to securely move data to fintech start-ups and other technology companies.

P15: The new chief executive of Fortescue Metals Group may need to live with bigger-than-expected iron ore discounts for the next five years, as data from Chinese traders shows the gap between the benchmark price and that achieved by the miner has continued to widen in recent weeks.

The retirement of Rio Tinto chief financial officer Chris Lynch could see the global mining giant lose two of its key figureheads in the space of a few months next year.

 

The Australian

Page 1: Australians are on track to pay more than $500 million to AGL to fund its flagship solar generators, as the energy giant prepares to shut down its Liddell coal power station, a move that has prompted warnings of a power shortfall that could lead to blackouts and price hikes.

P3: Business and the building industry yesterday criticised federal Labor after the party confirmed the CFMEU would face lesser penalties for unlawful blockades under Bill Shorten’s policies.

P6: Full-strength beer will be outlawed at bottleshops in every town across the hard-drinking West Australian Pilbara as part of a plan to try to end generations of child neglect and abuse in the frontier town of Roebourne.
Former federal Liberal minister Ian Macfarlane has attacked his state party over its move last month to force the Palaszczuk government to release its plans to protect the state’s coal workers from black lung disease.

P17: The nation’s largest superannuation fund, the $120 billion AustralianSuper, will today announce an industry-leading move to cancel automatic but savings-eroding life insurance cover for new members under 25 years of age.

Damien Gance, co-founder and group director of Chemist Warehouse, the nation’s largest pharmacy chain, has joined the chorus of Australian chief executives and corporate leaders testifying to the intensifying pressure on business and consumers of mounting energy bills, with the national retailer working harder than ever to limit the impact on shelf prices.

P19: Coles’ John Durkan makes changes to drive growth Coles boss John Durkan has unveiled the supermarket chain’s new structure to support growth plans that could include potential acquisitions, after naming finance and merchandise director Chris Nicholas as chief financial officer who will oversee business development opportunities.

P20: Billionaire small-cap investor Alex Waislitz has launched an extraordinary attack on emerging technology company Dubber as it prepares to ask investors for more capital to back development of its cloud call-recording software.

 

The West Australian

Page 1: The State Government is considering tightening payroll tax exemptions amid concerns training organisations are promoting tax minimisation by signing up high-paid workers and managers as trainees.

P5: NBN is correctly connecting customers “nine out of 10 times”, according to Communications Minister Mitch Fifield, who says most problems with the national broadband network rest with retailers.

P6: Pressure is building on WA Education Minister Sue Ellery to rethink her opposition to a national reading and maths skills test for Year 1 students.

P7: Sports and concert fans face full body scans en masse before arriving at the new Perth Stadium under the facility’s next-generation security protocols.

P9: Applications by WA victims to be compensated for crimes committed against them have rocketed more than 20 per cent in the past year — with payments to the victims of domestic violence jumping 33 per cent in just 12 months.

P12: WA businesses are facing a “demographic tsunami” that could wipe out the State’s key markets in China, South Korea and Japan, a report to be released today warns.

P50: The future of the Diggers and Dealers Mining Forum has been shored up after the McGowan Government negotiated a deal to keep the doors open at the Goldfields Arts Centre — the only venue in the town big enough to accommodate the world-famous resources conference.

Gold miners, drillers, contractors and suppliers will rally in Kalgoorlie today in protest against the State Government’s proposed gold royalty rate increase.

WA’s peak farm lobby group has named Trent Kensett-Smith as its new chief executive. 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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