11/10/2017 - 06:43

Morning Headlines

11/10/2017 - 06:43

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Morning Headlines

Federal Labor split on GST fix

A split has emerged within Federal Labor ranks over WA’s GST crisis, with the party’s State representatives admitting the system is broken and in need of a “substantial” fix. The West

 

Lottoland to lobby WA MPs

Lottoland management has flown into Perth for talks aimed at deterring a proposed ban of the online lotto betting business by the McGowan Government. The West

 

NBN Co chairman rules out price cuts

NBN Co chairman Ziggy Switkowski has ruled out any reduction in the wholesale prices the company charges retail broadband service providers, rejecting industry claims that lower prices will lead to better service quality for end users. The Aus

 

BCA calls for radical change on uni funding

Australia’s tertiary education funding system is distorted, unfair, creates the wrong incentives and needs to be dramatically overhauled, Business Council of Australia CEO Jennifer Westacott will tell the National Press Club on Wednesday. The Fin

 

Bank bill swap scandal

ANZ Banking Group, National Australia Bank and Westpac, which are at the centre of a rate-rigging lawsuit, have one week to present an acceptable agreement to the corporate watchdog to avoid a costly and damaging trial.The Fin

 

AFIC shuts down BHP activists over ‘agitating change’

One of BHP Billiton’s largest Australian shareholders says new chairman Ken MacKenzie must be given time to put his stamp on the company, amid reports activist investor Elliott is reviving a campaign to shake up the mining company. The Fin

 

Scale back Paris emissions commitment, reformers urge

Two of Australia’s most respected economic reformers have urged the government to scale back its commitment to the Paris emissions-reduction agreement and revive a market-based mechanism to curb greenhouse gases, suggesting the renewable energy target is damaging the country’s competitiveness. The Aus

 

AMP turns its back on active fund portfolio

One of Australia’s biggest wealth managers has caved in to inexorable pressure on fees from index and computerised trading in the nation’s lucrative $2.9 trillion funds management industry. The Aus

Build-to-rent could be house market changer

WA developers are showing interest in a build-to-rent model that could shake up the WA property market. The West

 

The Australian Financial Review

Page 1: The Turnbull government is preparing to amend its Banking Executive Accountability Regime in a major concession to the banks to allow bankers to challenge in the courts penalties imposed by the prudential regulator under its expanded powers.

P3: Australia’s tertiary education funding system is distorted, unfair, creates the wrong incentives and needs to be dramatically overhauled, Business Council of Australia CEO Jennifer Westacott will tell the National Press Club on Wednesday.

The Australian Taxation Office believes more than $2.5 billion a year in tax avoidance by large companies goes undetected but that it is on track to cut this figure substantially.

P4: Some of the nation’s most prominent barristers were prodded by the High Court on Tuesday as they argued that the Constitution did not disqualify five of the so-called ‘‘citizenship seven’’ from sitting in Parliament.

P6: The mining industry has successfully headed off a 50 per cent increase to the gold royalty rate in Western Australia, leaving the state government with a $392 million budget black hole.

P8: Leaders of the energy transportation sector have put the case for further investment in electricity transmission lines and gas pipelines as a way to help distribute power and gas more evenly between states and ultimately help bring down energy prices.

P13: ANZ Banking Group, National Australia Bank and Westpac, which are at the centre of a rate-rigging lawsuit, have one week to present an acceptable agreement to the corporate watchdog to avoid a costly and damaging trial.

One of BHP Billiton’s largest Australian shareholders says new chairman Ken MacKenzie must be given time to put his stamp on the company, amid reports activist investor Elliott is reviving a campaign to shake up the mining company.

 

The Australian

Page 1: Two of Australia’s most respected economic reformers have urged the government to scale back its commitment to the Paris emissions-reduction agreement and revive a market-based mechanism to curb greenhouse gases, suggesting the renewable energy target is damaging the country’s competitiveness.

Lawyers fighting to salvage the political career of Barnaby Joyce are calling on the High Court to take a narrower interpretation of the Constitution, in a clear move away from a landmark 25-yearold ruling on politicians’ eligibility to hold public office.

P2: The International Monetary Fund has urged governments to “seize the moment” as the near decade-long economic hangover from the GFC starts to ease and the fund lifts its forecast for global growth, including for Australia’s biggest trading partners, China, Japan and the US.

P4: The union movement is preparing to campaign against Barnaby Joyce in New England should a by-election occur there in the coming weeks, with independent Tony Windsor expected to be the beneficiary of that support.

P17: One of Australia’s biggest wealth managers has caved in to inexorable pressure on fees from index and computerised trading in the nation’s lucrative $2.9 trillion funds management industry.

Graeme Samuel, a leading member of the prudential regulator’s investigation into governance and cultural failings at the Commonwealth Bank, has raised the prospect that the lender’s directors did not have the skills or values required for the job.

P19: NBN Co chairman Ziggy Switkowski has ruled out any reduction in the wholesale prices the company charges retail broadband service providers, rejecting industry claims that lower prices will lead to better service quality for end users.

 

The West Australian

Page 1: A split has emerged within Federal Labor ranks over WA’s GST crisis, with the party’s State representatives admitting the system is broken and in need of a “substantial” fix.

P4: Blocking the planned gold royalty increase has further threatened WA’s international credit rating and could result in households being hit harder as the State Government tries to find almost $400 million in lost revenue.

WA’s powerful mining lobby has spent more than $500,000 opposing the State Government’s gold royalty increase.

P6: Deputy Prime Minister Barnaby Joyce and two Government senators should not be disqualified from Parliament because they did not know they were dual citizens, the High Court has been told.

P9: The Federal Government will pump $55 million into several blackspots across rural WA as it attempts to reduce the State’s road toll.

P13: A young woman running for a western suburbs council has been subjected to a barrage of online abuse, with accusations of being “anti-male and antiwhite”.

P14: WA Music chief executive Mike Harris says it “defies logic” that not a single local act earnt a nomination in the 2017 ARIA Awards announced in Sydney yesterday.
P19: WA research into preventing mental health problems in young people will share in a $29 million Federal Government commitment to battling mental illness.

P61:Lottoland management has flown into Perth for talks aimed at deterring a proposed ban of the online lotto betting business by the McGowan Government.

When the State Government brought down its Budget with a 50 per cent hike in the gold production royalty last month, shares in most of WA’s gold miners went up.

Two board members of embattled gold miner Troy Resources have narrowly survived a bid to oust them.

The McGowan Government has voiced conditional support for expansion of a new Pilbara marine base which needs its endorsement to receive a federally funded loan.

P64: WA developers are showing interest in a build-to-rent model that could shake up the WA property market.

P66: One of WA’s fastest growing southern suburbs Byford is a hive of activity, with construction of a new market place and residential subdivision in the same vicinity.

P68: Lester Group plans to refocus its efforts on WA after achieving $20 million capital growth on a Melbourne office asset.

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