23/10/2017 - 06:47

Morning Headlines

23/10/2017 - 06:47

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Morning Headlines

Scaffidi allies out at election

Voters have sent a strong message to the City of Perth council for change amid years of drama, according to all four councillors elected on the weekend. The West

 

Go national on energy: Wyatt

WA Energy Minister Ben Wyatt has given a backhander to State Labor counterparts over their pursuit of separate renewable energy targets, saying a nationally consistent approach was important for investor certainty. The West

 

Corporate penalties to be tripled

Companies that break the law face having profits forfeited as the Turnbull government prepares to triple corporate penalties and give incoming chairman of the Australian Securities and Investments Commission James Shipton a big stick to re-energise the watchdog. The Fin

 

WA firm brings robotic mine tech to the world

A Perth mine safety equipment maker is targeting a global market for pit haul road barriers which it plans to produce with mobile robotic technology. The West

 

$91,196 to connect NBN ... for one house

The massive costs of Labor’s “gold-plated” National Broadband Network are now being realised, with a single internet connection to a Tasmanian house costing the taxpayer $91,196 — an outlay that would take 146 years to recoup through user fees. The Aus

 

‘Radical’ overhaul of courts imminent

“Radical” changes to the commonwealth law courts, in which the Family Court may be scrapped and folded into the Federal Court, could be implemented as soon as Christmas. The Aus

 

Packer hedges his bets in Japan

James Packer has played down the prospects of Crown Resorts pushing for a casino licence in Japan, and warned there is risk the company is overcapitalising on its flagship $2.4 billion Crown Sydney casino project after spending too much on its Perth and Melbourne properties. The Aus

 

ASIC digs in on bank swap rate

The corporate regulator is already considering an appeal if it loses one of the most expensive cases in its history, the prosecution of three big banks for allegedly fixing wholesale interest rates. The Fin

 

Fundies link EFTs to next major crisis

Fund managers who witnessed the 1987 crash believe exchange-traded funds will play a role in the next market crisis because they have contributed to inflated valuations on the way up, and will be liquidity-constrained on the way down. The Fin

 

The Australian Financial Review

Page 1: Companies that break the law face having profits forfeited as the Turnbull government prepares to triple corporate penalties and give incoming chairman of the Australian Securities and Investments Commission James Shipton a big stick to re-energise the watchdog.

The Australian sharemarket is set to follow Wall Street higher again in a week in which surging electricity bills could push headline inflation into the Reserve Bank’s 2-3 per cent target.

The corporate regulator is already considering an appeal if it loses one of the most expensive cases in its history, the prosecution of three big banks for allegedly fixing wholesale interest rates.

P7: Wind energy generators Meridian Energy Australia and Infigen Energy have strongly backed the Turnbull government’s proposed National Energy Guarantee amid an ongoing battle over Labor state renewable energy schemes.

P13: Fund managers who witnessed the 1987 crash believe exchange-traded funds will play a role in the next market crisis because they have contributed to inflated valuations on the way up, and will be liquidity-constrained on the way down.

P15: Myer has ruled out raising new capital as part of a review of its five-year turnaround plan, saying the balance sheet is strong enough to support the next phase of its strategy.

 

The Australian

Page 1: The Andrews government has been blindsided in its bid to secure parliamentary backing for the Victorian assisted-suicide package, with at least two key state MPs yesterday unexpectedly withdrawing their support for the euthanasia bill following pointed warnings from Paul Keating and Tony Abbott.

The massive costs of Labor’s “gold-plated” National Broadband Network are now being realised, with a single internet connection to a Tasmanian house costing the taxpayer $91,196 — an outlay that would take 146 years to recoup through user fees.

Bill Shorten faces investigation over a large sum of union funds he donated to his own election campaign in 2007 — possibly without proper approval — when he led the Australian Workers Union and first ran for parliament.

Electricity customers face an extra burden of between $3.8 billion and $7.5bn in “windfall” subsidies for renewable power generators in the next decade because of the stroke of a pen in the last months of Kevin Rudd’s prime ministership.

P2: Deputy Prime Minister Barnaby Joyce is being dogged by a dirtytricks campaign, with fake polling emerging last night suggesting any battle to retain his NSW seat would go down to the wire against political nemesis Tony Windsor.

P6: Parents of hundreds of thousands of Catholic pupils face school-fee increases following the Turnbull government’s education reforms as two other religious providers have joined the chorus of dissent.

P7: “Radical” changes to the commonwealth law courts, in which the Family Court may be scrapped and folded into the Federal Court, could be implemented as soon as Christmas.

P17: James Packer has played down the prospects of Crown Resorts pushing for a casino licence in Japan, and warned there is risk the company is overcapitalising on its flagship $2.4 billion Crown Sydney casino project after spending too much on its Perth and Melbourne properties.

P19: Bunnings has plans to expand across Britain and could buy or lease more than 100 sites in coming years as the Australian group becomes a major presence after buying Homebase last year.

 

The West Australian

Page 3: Voters have sent a strong message to the City of Perth council for change amid years of drama, according to all four councillors elected on the weekend.

P4: The WA economy is slowly turning around with the jobs market on the mend but it is going to take some time for that to translate into better wages, a report out today predicts.
P6: WA Treasurer Ben Wyatt says he is “deeply and personally committed” to addressing the overrepresentation of Aboriginal children in State care, as shocking new statistics reveal they account for more than half of kids removed from their family homes by authorities.

P7: Eagles and Dockers fans will soon be able to pick their seats at Perth Stadium, after the official deal with the AFL was signed yesterday.

P9: NBN will today unveil a push to deliver its services to the kerbsides of Australian homes, while revealing parts of Geraldton and Mandurah have been among the most expensive places in the country for its broadband rollout.

P12: A groundbreaking WA project that will track the health of thousands of children from the womb will be a “gamechanger”, according to experts.

P48: A Perth mine safety equipment maker is targeting a global market for pit haul road barriers which it plans to produce with mobile robotic technology.

P49: WA Energy Minister Ben Wyatt has given a backhander to State Labor counterparts over their pursuit of separate renewable energy targets, saying a nationally consistent approach was important for investor certainty.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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