Morning Headlines

Coalition crisis as Joyce loses Nats MPs’ support

Barnaby Joyce’s leadership was in peril last night after he lost critical support within his partyroom, as senior Nationals moved to force his resignation over the love-child scandal. The Aus

Trump revisions leave BHP facing $2.3bn bill

BHP Billiton will take a $US1.8 billion ($2.3bn) income tax hit when it reports interim profit next week because of US President Donald Trump’s tax cuts. The Aus

Confident start to 2018

An intensifying multi-year infrastructure construction boom is cementing the best business conditions on record, leaving some of the nation’s biggest companies struggling to keep up with a surge in demand that has buoyed Reserve Bank of Australia confidence in a wages rebound. The Fin

Rio Tinto can afford acquisitions: S&P

Rio Tinto could make a sizeable acquisition without overstretching its balance sheet, according to Standard & Poors, which upgraded the mining company’s credit rating yesterday. The Fin

Bet365 assesses form as William Hill looks for exit

Bet365 is believed to be circling the Australian operations of William Hill, which are up for sale after the London-based listed firm outlaid $700 million on entering the market through acquisitions of companies, including those of fourth generation bookmaker Tom Waterhouse. The Aus

Scandal was the worst time of my life: Scaffidi

Lord Mayor Lisa Scaffidi says her understanding of what gifts and travel she has to declare — and when — has “come a long way” over the course of a scandal she describes as “the worst time of my life”. The West

Perth pub brawl brews over pop-up bar rules

Perth pub owners have warned Premier Mark McGowan that he could soon have blood on his hands if the State Government does not tighten security and safety around pop-up bars. The West

WA bricks are a drag on Boral earnings

Boral’s hard-pressed WA brick division could do no better than break even in the December half as another fall in State housing starts further weakened sales. The West

The Australian Financial Review

Page 1: An intensifying multi-year infrastructure construction boom is cementing the best business conditions on record, leaving some of the nation’s biggest companies struggling to keep up with a surge in demand that has buoyed Reserve Bank of Australia confidence in a wages rebound.

Barnaby Joyce’s leadership is hanging by a thread with people at all levels of the Nationals talking about dumping him in the belief his authority may be irreparably damaged.

Page 4: Treasurer Scott Morrison says One Nation is indulging in ‘‘flat earth economics’’ and Labor was being hypocritical as he accused both parties of looking for excuses to oppose the company tax cuts for political reasons.

Page 5: Australian wheat exports have slowed to a trickle as traditional markets in south-east Asia turn to cheaper alternatives.

Page 10: Woolworths has been implicated in widespread underpayments of contracted cleaners, after almost all its supermarkets in Tasmania were found to have been involved in breaches of workplace laws.

Page 15: A veteran investor who witnessed the bond market crash of 1994 agrees 2018 could deliver a similarly nightmarish scenario if the Federal Reserve is caught chasing inflation and has to raise rates too quickly.

Page 17: Cochlear chief executive Dig Howitt urged the Turnbull government to swiftly implement veteran venture capitalist Bill Ferris’ national innovation strategy.

Rio Tinto could make a sizeable acquisition without overstretching its balance sheet, according to Standard & Poors, which upgraded the mining company’s credit rating yesterday.

The Australian

Page 1: Barnaby Joyce’s leadership was in peril last night after he lost critical support within his partyroom, as senior Nationals moved to force his resignation over the love-child scandal.

Page 2: States and territories have been urged to be “big-hearted” and ring-fence money not just for the $22 billion National Disability Insurance Scheme but also for local programs slated for closure, amid fears the world-leading project will fail without them.

Page 6: Poor governance by Woolworths contributed to the “serious exploitation” of contract cleaners, with vulnerable workers paid well below the legal minimum, and cleaning contractors at 90 per cent of Tasmanian supermarkets not complying with the law.

Page 17: Australia’s largest bank, CBA, yesterday delivered a supplementary report on its own wrongdoing to financial services royal commissioner Kenneth Hayne despite earlier claiming it could not meet a 4pm deadline.

Page 18: Bet365 is believed to be circling the Australian operations of William Hill, which are up for sale after the London-based listed firm outlaid $700 million on entering the market through acquisitions of companies, including those of fourth generation bookmaker Tom Waterhouse.

Page 19: BHP Billiton will take a $US1.8 billion ($2.3bn) income tax hit when it reports interim profit next week because of US President Donald Trump’s tax cuts.

Page 29: Vocational education and training’s death dive has continued unabated, with new statistics showing that the number of government-funded students fell nearly 7 per cent last year.

The West Australian

Page 4: Premier Mark McGowan was shouted down by protesters angry over cuts to regional education as hundreds of Country Women’s Association members rallied outside Parliament yesterday.

Page 9: Lord Mayor Lisa Scaffidi says her understanding of what gifts and travel she has to declare — and when — has “come a long way” over the course of a scandal she describes as “the worst time of my life”.

Page 12: More building sites operated by embattled construction firm Cooper & Oxley are likely to re-open within days after a deal was struck with subcontractors that guarantees them payment for any new work they do.

Page 13: Media companies have called on the Federal Government to scrap planned laws targeting foreign influence in Australian politics, saying they are flawed and must be rewritten.

Page 14: Perth pub owners have warned Premier Mark McGowan that he could soon have blood on his hands if the State Government does not tighten security and safety around pop-up bars.

Page 21: Australians are feeling the brunt of low wages growth with the Reserve Bank raising fears that consumers may suddenly change their spending patterns and send the economy into a tailspin.

Page 23: Health fund membership has plunged with nearly 13,000 people dumping their cover in the three months to December.

Business: The State Government’s insurance agency is turning into a cash cow, yielding more than $200 million in six months to government coffers through taxes and dividends.

Boral’s hard-pressed WA brick division could do no better than break even in the December half as another fall in State housing starts further weakened sales.

A ramp-up in projects and a fire insurance claim have bolstered the net profit of heavy engineering firm Civmec.

Analysts predict JB Hi-Fi’s operating margins will stagnate over the next decade as Amazon takes hold of the Australian retail market.

A bid for an $85 million, 33-storey tower proposed for Melville Parade, South Perth, is on hold for three months to allow the developer to make modifications to reduce the impact on residents in a three-level property next door.

The family of the late Len Buckeridge have accepted a lower-than-expected $43.5 million offshore offer for the 6-8 Bennett Street buildings.

Stop-start plans for a hotel in the Metropolitan Redevelopment Authority’s Perth City Link are edging closer to fruition.