12/11/2013 - 06:46

Morning Headlines

12/11/2013 - 06:46

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Morning Headlines

PM adviser demands deeper cuts

The federal government’s top business adviser has criticised the cost of the National Disability Insurance Scheme and the school funding reforms, slammed wages as too high and industrial relations as too rigid, and urged the government to push the envelope in order to “repair” the economy. The Fin

Abbott puts carbon tax in his cross hairs

Tony Abbott has compared the effects of Australia’s renewable energy target to the impact on power prices from the carbon tax, the strongest indication yet that the government plans to abolish or weaken the scheme. The Fin

Missing votes ‘commonplace’

Senate vote investigator Mick Keelty yesterday flagged the introduction of a post style barcode tracking system for packages of ballots as he revealed compelling evidence suggesting votes going missing was “commonplace”. The West

Forrest raises Fortescue shareholding

Fortescue Metals Group founder and chairman Andrew Forrest has topped up his holding in the iron ore miner at the same time as his executive team has negotiated better terms on the company’s biggest debt obligation. The Fin

Everything on table in State asset-sale review

The independent economic watchdog will conduct a review of all State-owned assets as the Barnett Government continues to mull its response to the loss of the AAA credit rating. The West

Don’t just buy the farm, build it

Tony Abbott has lent support to community concerns about foreign ownership as he confronts a push from senior colleagues to torpedo a $3.4 billion offshore bid for the nation’s biggest grain handler, GrainCorp. The Aus

Discovery parks its caravan in Onslow

Tourist and caravan operator Discovery Parks has embarked on the second stage of its $150 million accommodation project in Onslow in WA’s Pilbara region having secured lucrative lease agreements with resources giant Chevron in the once sleepy fishing town. The Fin

Aerial NBN cabling gains favour

The push to roll out more of the National Broadband Network as overhead fibre cabling on power poles is gaining momentum, with a growing consensus that it would lower costs.

Department’s education takes a 365 degree turn

Western Australia’s Department of Education found its in house email service was not making the grade for staff or students. With one of the biggest educational jurisdictions in the world, the state government agency operates almost 800 public schools with about 270,000 students from kindergarten to Year 12. The Aus

 

 

The Australian Financial Review

Page 1: The federal government’s top business adviser has criticised the cost of the National Disability Insurance Scheme and the school funding reforms, slammed wages as too high and industrial relations as too rigid, and urged the government to push the envelope in order to “repair” the economy.

Page 3: The property market looks to be leaving a generation of younger Australians locked out of home ownership.

Page 4: Prime Minister Tony Abbott has reminded Indonesia it is bound by international law to accept asylum seekers picked up in its search and rescue zone.

Page 5: Tony Abbott has compared the effects of Australia’s renewable energy target to the impact on power prices from the carbon tax, the strongest indication yet that the government plans to abolish or weaken the scheme.

Page 6: Trustees and chief executives of more than 20 of Australia’s biggest superannuation funds have urged the Prime Minister to retain the super rebate for low-income earners.

Page 7: The regional chief of General Motors has made a low-key visit to GM Holden amid indications the car maker has made little headway in its push for the Abbott government to give extra industry assistance.

Page 14: Professional services giant KPMG Australia will join a dozen other KPMG member firm in a new global capital investment fund, KPMG Capital, to accelerate investment in data and analytics.

Page 18: Auditors have discovered that a senior manager embezzled funds at Alcoa Retirement Plan of Australia in 2012, the superannuation fund run by the world’s third largest producer of aluminium.

Page 22: Fortescue Metals Group founder and chairman Andrew Forrest has topped up his holding in the iron ore miner at the same time as his executive team has negotiated better terms on the company’s biggest debt obligation.

Page 23: The cost of making phone calls and using mobile data while overseas could fall more rapidly under new rules proposed under the contentious Trans-Pacific Partnership trade agreement.

Page 38: Tourist and caravan operator Discovery Parks has embarked on the second stage of its $150 million accommodation project in Onslow in WA’s Pilbara region having secured lucrative lease agreements with resources giant Chevron in the once sleepy fishing town.

 

 

The Australian

Page 1: More than 1100 asylum-seekers have been stopped from coming to Australia by boat as the Australian Federal Police and its Indonesian counterpart greatly boost their offshore disruption activities.

As Clive Palmer arrives in Canberra to start his parliamentary career, his former security manager and bodyguard has revealed what he insists is the disturbing truth about the conduct of the maverick Queensland leader whose party is likely to hold the balance of power in the Senate.

Page 2: Tony Abbott has lent support to community concerns about foreign ownership as he confronts a push from senior colleagues to torpedo a $3.4 billion offshore bid for the nation’s biggest grain handler, GrainCorp.

The Abbott government is standing by its 2020 target for cutting the nation’s greenhouse gas emissions despite claims it will scale back its ambitions at global talks this week after federal cabinet endorsed a hard-line approach to the negotiations.

The number of new apprentices has plummeted by a third this year as employers reel from policy changes introduced by the former Labor government.

Labor will challenge Joe Hockey’s plan to increase the federal debt ceiling to $500 billion in a move to force a parliamentary debate this week on Coalition claims of a ‘‘budget emergency’’ in the nation’s finances.

Page 3: Mining magnate Andrew Forrest has declared the Abbott government must embark on radical changes to get indigenous people into work, including overhauling the social housing rules that mean Aborigines lose their subsidised housing in remote communities if they take jobs.

Page 17: The nation’s most powerful company directors are demanding a regulatory crackdown on litigation funders and are urging the government to investigate whether regimes encouraging a ‘‘proliferation’’ of class actions against major companies are a drain on the economy.

Orica chief Ian Smith has started strongly on his plan to stay profitable as the big miners actively squeeze suppliers, with the explosives company yesterday beating earnings guidance, increasing margins and flagging higher dividends.

Elders is on track to notch accumulated losses of almost $1.6 billion for the five years since the global financial crisis after announcing hundreds of millions of dollars-worth of extra one-off charges for 2012-13.

Lawyers for former Leighton chief executive Wal King have raised the prospect of the Australian Federal Police or state police being asked to investigate how Fairfax Media gained possession of confidential documents forming part of an AFP probe into Leighton and internal Leighton documents relating to Mr King’s personal expenses.

Page 19: Share dealing by two nonexecutive directors at David Jones will come under further scrutiny after it emerged yesterday that sanctioning of the trades by the board carries no legal weight.

Page 27: The push to roll out more of the National Broadband Network as overhead fibre cabling on power poles is gaining momentum, with a growing consensus that it would lower costs.

Page 28: Western Australia’s Department of Education found its in house email service was not making the grade for staff or students. With one of the biggest educational jurisdictions in the world, the state government agency operates almost 800 public schools with about 270,000 students from kindergarten to Year 12.

 

 

The West Australian

Page 4: Senate vote investigator Mick Keelty yesterday flagged the introduction of a post style barcode tracking system for packages of ballots as he revealed compelling evidence suggesting votes going missing was “commonplace”.

Page 6: The hand-picked head of Tony Abbot’s business advisory group has urged cuts to Australia’s minimum wage and demanded more power for corporate Australia at the expense of consumers.

Defence Minister David Johnston has justified chartering a luxury RAAF jet to fly MPs from Perth to Canberra by saying the practice allowed WA Federal politicians more “family time”.

Page 12: Another two boatloads of asylum seekers have been intercepted by Australian authorities, calling into question Immigration Minister Scott Morrison’s claim the Government is getting the upper hand over people smugglers.

Page 14: WA farmers have hit out at moves to slash bio-security checks across Australia, warning that the country’s reputation as a clean and green producer of food had never been more at risk.

Page 16: WA’s peak business lobby expects WA’s economy to continue to grow at an above-average rate but warns sentiment remains shaky as new figures show business confidence at a four year low.

Labor will attempt to block the Government increasing Australia’s borrowing limit to $500 billion until Treasurer Joe Hockey justifies the move.

Page 17: The independent economic watchdog will conduct a review of all State-owned assets as the Barnett Government continues to mull its response to the loss of the AAA credit rating.

Business: Forge Group is expected to tap investors for $50 million to $100 million to recapitalise the business because of unspecified losses on two power station projects.

The Federal Government has given the green light for Exxon-Mobil and BHP Billiton to build the world’s biggest floating LNG operation over their Scarborough gas field.

A Supreme Court jury was yesterday given a repeat run of evidence allegedly linking Barminco founder Peter Bartlett and his silent partner Ron Sayers to a $7 million-plus tax fraud plot.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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