Morning Headlines

GST win for WA

WA may finally get some GST justice, with the Commonwealth Grants Commission backing plans that would deliver a substantial increase in iron ore royalties to State coffers. The West

Labor goes all in with Beijing

Labor could enter jointly funded infrastructure ventures with the Chinese government in Australia’s north under Beijing’s Belt and Road initiative, all as part of an escalated embrace of Asia, should it win the next election. The Fin

MMA told to hold off review

The Singapore billionaire stalking MMA Offshore has called on the vessel operator to abandon a strategic review until a vote on changing its leadership is held. The West

Lew’s plans stir Myer investors

Myer shareholders are keen to learn how veteran retailer Solomon Lew thinks the department store chain can be turned around and who he has in mind to represent his interests on the Myer board. The Fin

Gordon snaps up Seven stake in Prime

Bruce Gordon, the WIN Corporation owner agitating for the takeover of Ten Network Holdings, has swooped on the Seven Network’s regional affiliate partner Prime Media Group as media moguls jockey for position before new media laws are enacted. The Aus

Fracking ban ‘cost the Territory $200m’

Gas companies would have invested at least $200 million in the flagging Northern Territory economy this year if Labor had not implemented a fracking moratorium. The Aus

Income slump hits the middle

Middle-income earners are bearing the brunt of a decade-long wage growth slump while workers on lower wages are weathering the storm through the taxand-transfer welfare system, according to a Treasury report that debunks the myth of rising income inequality since the global financial crisis. The Aus

Marginal seat voters to punish WA Libs

Voters in WA’s most marginal seats are concerned about the rising cost of living, and are preparing to punish the Turnbull Government for not doing enough about it. The West

The Australian Financial Review

Page 1: Labor could enter jointly funded infrastructure ventures with the Chinese government in Australia’s north under Beijing’s Belt and Road initiative, all as part of an escalated embrace of Asia, should it win the next election.

P3: Reserve Bank of Australia deputy governor Guy Debelle has launched a staunch defence of central bank independence, hitting back at a growing tide of post-2008 critics who blame faceless and unelected policymakers for a litany of woes.

P5: Donald Trump’s tax plan, which includes a much lower headline rate and instant asset write-off on steroids, will tip marginal projects away from Australia, experts said.

P6: A forecast sharp drop in gas output in the Bass Strait opens up a 25 per cent gap in local gas supply for the southern states next year and has underscored the risk of price hikes for Victorian manufacturers as they become increasingly reliant on Queensland.

Tony Abbott’s suggestion that the federal government involve ‘‘defence powers’’ and take control of the gas reserves in NSW and Victoria has been shot down by the former prime minister’s colleagues as unrealistic and even illegal.

P8: Corrs Chambers Westgarth has opened an office in Papua New Guinea, breaking its golden rule of remaining wholly Australian-based as law firms jostle for work in the resources-rich nation.

P17: Sydney Airport’s new chief executive Geoff Culbert says his focus will be on capitalising on Asian tourism to drive the airport’s growth over the next decade, and he has flagged plans to work closely with governments to maximise the economic benefits of a boom in international visitors.

The New South Wales Supreme Court has ruled against Pacific Equity Partners in a discovery action aimed at private equity firm Adamantem Capital. The judgment was handed down by Justice Guy Parker on Thursday. The summons was dismissed and PEP will pay costs.

P21: Myer shareholders are keen to learn how veteran retailer Solomon Lew thinks the department store chain can be turned around and who he has in mind to represent his interests on the Myer board.

The Australian

Page 1: Middle-income earners are bearing the brunt of a decade-long wage growth slump while workers on lower wages are weathering the storm through the tax-and-transfer welfare system, according to a Treasury report that debunks the myth of rising income inequality since the global financial crisis.

P3: The first of the 57m-long blades for a $380 million wind farm project in the area where Cyclone Larry once caused devastation to farmland have been unloaded in Cairns.

P4: The start-up sector has argued it has been left with failed initiatives after a damning audit reignited a political brawl over innovation.

P5: Clive Palmer’s fugitive nephew Clive Mensink appears to have “absolutely no intention” of coming back to Australia while liquidators are chasing him, a Federal Court judge has declared.

P6: The nation’s gas exporters are pushing back against the government’s plan to drive down the gas price for Australian customers, questioning new “benchmark” prices at the same time as they pledge to divert supplies to the local market.

Gas companies would have invested at least $200 million in the flagging Northern Territory economy this year if Labor had not implemented a fracking moratorium.

P8: The seven MPs caught in the dual-citizenship fiasco have been labelled “ignorant” and “wilfully blind”, amid revelations that Barnaby Joyce’s father was a sole citizen of New Zealand until the Deputy Prime Minister was 10.

P19: Bruce Gordon, the WIN Corporation owner agitating for the takeover of Ten Network Holdings, has swooped on the Seven Network’s regional affiliate partner Prime Media Group as media moguls jockey for position before new media laws are enacted.

The West Australian

Page 1: WA may finally get some GST justice, with the Commonwealth Grants Commission backing plans that would deliver a substantial increase in iron ore royalties to State coffers.

P3: Almost 200,000 homes with backyard bores face tougher rules on their use as water levels in the Gnangara aquifer system — Perth’s most important drinking water supply — hit new lows.

P5: Former One Nation senator Rod Culleton yesterday apologised to the presiding magistrate in his trial on a charge of stealing after he was marched out of the courtroom by a policeman.

P9: Voters in WA’s most marginal seats are concerned about the rising cost of living, and are preparing to punish the Turnbull Government for not doing enough about it.

P20: Tourism Minister Paul Papalia hopes to entice the world’s biggest ocean liner back to WA after upgrades to Fremantle and Broome ports.

P22: Perth ophthalmologists are not seeing eye to eye over a new cataract technique promoted by one surgeon.

P60: Kerry Stokes-backed Beach Energy will double in size, become a major energy supplier to the east coast and a partner in Perth Basin gas production following a $1.6 billion deal.

The Singapore billionaire stalking MMA Offshore has called on the vessel operator to abandon a strategic review until a vote on changing its leadership is held.

Alinta Energy’s first financial results since being bought by Hong Kong conglomerate Chow Tai Fook have revealed an expected loss.

P61: An equity tie-up between Pilbara Minerals and China’s Great Wall Motor Company has been hailed as potentially the world’s first investment in a lithium miner by a car maker.

Small and mid-sized WA businesses are leading the nation in their take-up of rooftop solar panels in a bid to escape soaring electricity costs and tap the State’s abundant sunshine resource.