Morning Headlines

MacTiernan threatens cage egg laying ban in WA

State Agriculture Minister Alannah MacTiernan has raised a possible ban on battery cage egg laying in WA unless the industry puts forward changes to improve animal welfare conditions for laying hens. The West

Shorten ‘war on business’

Labor has drawn the battle lines for a pre-election, cost-of-living contest by promising fatter pay packets through the reduction of employers’ workplace bargaining rights and a boosted minimum wage, in contrast with the government’s plan to cut company tax. The Fin

Jobs boom driven by NDIS injection of taxpayer billions

The $22 billion taxpayer-funded National Disability Insurance Scheme was responsible for as many as 52,000 of the new jobs created last year, new analysis finds, suggesting quasi-public sector employment is a big part of the “jobs boom”. The Aus

Cycle turning on discounts, says Fortescue

Fortescue Metals Group believes it has weathered the worst of the price discounts that have been applied to its iron ore in recent months, but will push ahead with plans to increase the average grade of its product regardless. The Fin

Student slump hits west while nation booms

The $30 billion international education industry has warned that Western Australia is losing large numbers of valuable overseas students to other states following last year’s decision by the incoming McGowan Labor government to slash migration incentives. The Aus

Bigger number of smaller IPOs tipped for 2018

Funds raised by initial public offerings on the Australian Stock Exchange plummeted 46 per cent in 2017, and a trend towards greater numbers of smaller raisings will continue in early 2018, a report has found. The Fin

Indonesian red tape snares Newcrest

Australia’s biggest gold producer, Newcrest, is the latest miner to strike regulatory turbulence in Indonesia, with the host government raising issues about the level of Indonesian ownership in the Gosowong mine and the fiscal regime under which the mine operates. The Fin

$4.4b for WA in NSW tax plan

The NSW Government has backed a GST overhaul that would deliver WA $4.4 billion extra while demanding the States take more control of how the tax is spread across the nation. The West 

The Australian Financial Review

Page 1: Labor has drawn the battle lines for a pre-election, cost-of-living contest by promising fatter pay packets through the reduction of employers’ workplace bargaining rights and a boosted minimum wage, in contrast with the government’s plan to cut company tax.

Page 4: Heath Minister Greg Hunt says the government will prioritise emerging medical research on genes and their functions, and has backed an innovation report designed to make Australia the healthiest nation in the world by 2030.

Top venture capitalist Daniel Petre has said innovation must be about more than tech start-ups as he warned the country is on its last chance to get to the forefront of global change.

Page 6: Superannuation schemes have rejected a proposal by one of the retirement industry’s most prominent executives that funds should hold capital in order to guarantee members an income in retirement.

Page 10: One of Australia’s most experienced economists has savaged the work of younger colleagues who argued that he fundamentally misunderstood how penalty rates affects jobs.

Page 11: The federal government’s efforts to crack down on foreign interference in Australian politics will only be successful if new measures effectively counter the activities of secretive Chinese organisations attempting to influence MPs, universities and the media.

Page 16: A more than $US500 million ($619 million) record heist from a Japanese cryptocurrency exchange, the latest in a long line of high-profile hacks, is directing attention to a new kind of venue that makes it harder for would-be thieves. They’re not, however, impervious to attack.

Page 17: Fortescue Metals Group believes it has weathered the worst of the price discounts that have been applied to its iron ore in recent months, but will push ahead with plans to increase the average grade of its product regardless.

Mining magnate claims $344m Chinese cheque Clive Palmer has returned fire in his war with Chinese conglomerate CITIC Limited after it appealed a court ruling he expects will deliver him billions of dollars over the life of the Sino Iron project in Western Australia’s iron ore rich Pilbara.

Page 20: Funds raised by initial public offerings on the Australian Stock Exchange plummeted 46 per cent in 2017, and a trend towards greater numbers of smaller raisings will continue in early 2018, a report has found.

Page 22: Australia’s biggest gold producer, Newcrest, is the latest miner to strike regulatory turbulence in Indonesia, with the host government raising issues about the level of Indonesian ownership in the Gosowong mine and the fiscal regime under which the mine operates.

Page 23: Origin Energy will cut more than a third of about 1600 jobs in its integrated gas business in a dramatic step-up in its efforts to slash costs and protect against swings in commodity prices, as promised to investors last year.

The Australian

Page 1: The $22 billion taxpayer-funded National Disability Insurance Scheme was responsible for as many as 52,000 of the new jobs created last year, new analysis finds, suggesting quasi-public sector employment is a big part of the “jobs boom”.

Page 3: Australia’s futuristic new joint strike fighter can’t shoot straight and has scores of other deficiencies ranging from cybersecurity and software to its bomb-aiming mechanisms potentially breaching rules of engagement.

Page 17: Commonwealth Bank faces a fresh crisis just a day after naming a new chief executive, with the corporate watchdog launching an explosive Federal Court suit against the bank over claims it rigged a key interest rate benchmark.

Page 19: Global media company Thomson Reuters is in talks with a US private equity firm over a proposed $US17 billion ($21bn) takeover.

Page 20: Oil and gas play AWE is expected to inform Mineral Resources this morning that it wishes to terminate the takeover agreement between the two, triggering a three-day period for MinRes to match the rival $602 million bid from Japan’s Mitsui or walk away.

Page 27: The $30 billion international education industry has warned that Western Australia is losing large numbers of valuable overseas students to other states following last year’s decision by the incoming McGowan Labor government to slash migration incentives.

The West Australian

Page 1: State Agriculture Minister Alannah MacTiernan has raised a possible ban on battery cage egg laying in WA unless the industry puts forward changes to improve animal welfare conditions for laying hens.

Page 3: Wealthy businesspeople are being sold “intimate” dinner events with Planning and Transport Minister Rita Saffioti as the Labor Party continues its cash-for-access fundraising, using the Premier and his Cabinet to lure big donations.

Page 8: Free food, a lightshow and other incentives will be used to lure Scorchers fans to Optus Stadium early and encourage them to remain after Thursday’s T20 cricket match, but commuters have been told to “suck up the fact” it may take longer to get home.

Page 16: The NSW Government has backed a GST overhaul that would deliver WA $4.4 billion extra while demanding the States take more control of how the tax is spread across the nation.

Business: Quintis’ receivers are confident they can revive the sandalwood company with a recapitalisation that may include shareholders and would avoid the devastating losses incurred by grower-investors in the collapsed Timbercorp and Great Southern schemes.

Investors who bought stock in the top-10 resources floats last year enjoyed stellar capital gains of more than 100 per cent to December 31.

Toll Holdings’ $23 million Hazelmere warehousing and logistics facility has been given the go ahead, with the Metro East Joint Development Assessment Panel ruling that concerns about the movement of heavy vehicles through the road system were beyond its remit.