22/02/2018 - 07:11

Morning Headlines

22/02/2018 - 07:11

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Morning Headlines

Boost to State from economic revival

The WA economy is rebounding and should start delivering a better jobs market and higher wages to the State’s workers, a report out today shows. The West

Stokes talks up Beach, puts AWE bidders on notice

Seven Group Holdings chief executive Ryan Stokes has fired his first public shot across the bows of parties involved in the $600-plus million takeover play for AWE. The Fin

Shock AWU claims: detective breaks silence on fraud

The retired detective who led the police investigation into the Australian Workers Union fraud scandal has broken his silence, calling for a fresh probe into an alleged conspiracy between former union officials and executives from construction giant Thiess that he claims extended to Julia Gillard’s old law firm. The Aus

PM plugs TPP, plays down China threat

Malcolm Turnbull has pushed the Trump administration over its opposition to the Trans-Pacific Partnership arguing it will help provide a secure investment environment for regional infrastructure – which is an emerging strategic priority for Washington. The Fin

IMF finds $112b shortfall in infrastructure

Australia should increase infrastructure spending about 0.4 per cent of GDP a year, but the cash is needed for more railways, ports and airports rather than freeways, according to the International Monetary Fund. The Fin

CCA throws weight behind Brand Coke

Coca-Cola Amatil is aiming to restore profit growth in its Australian beverages business by throwing its weight behind Brand Coke and Mount Franklin rather than developing new products and moving into new categories. The Fin

Discounts put $1b hole in Fortescue’s earnings

Fortescue has urged investors to focus on the relatively steady profit margin it is making on each tonne of iron ore, after China’s preference for higher grade iron reduced the company’s underlying earnings by almost $1 billion over the past six months. The Fin

Wesfarmers eyes pokies exit

Wesfarmers is closing in on an exit from its pokies-linked hotels business, admitting yesterday it was “a reluctant owner” of the 89 east coast pubs and their 3000 gaming machines. The West 

 

 

The Australian Financial Review

Page 1: Acting Prime Minister Mathias Cormann says company tax cuts are vital to ensure a long-awaited pick- up in wages growth continues this year, and slammed Bill Shortenfor treating tax relief for businesses as a joke and ‘‘a bit of sport’’ to cynically bash chief executives.

Page 2: Rob Scott may have inherited the problem, but he insists he is happy to take on the chin the criticism over Wesfarmers’ disastrous foray into the UK.

Page 4: Malcolm Turnbull has pushed the Trump administration over its opposition to the Trans-Pacific Partnership arguing it will help provide a secure investment environment for regional infrastructure – which is an emerging strategic priority for Washington.

Page 6: Home Affairs Minister Peter Dutton is looking at cutting red tape around importing temporary skilled migrants for businesses with a history of complying with rules around foreign workers.

Page 8: Australia should increase infrastructure spending about 0.4 per cent of GDP a year, but the cash is needed for more railways, ports and airports rather than freeways, according to the International Monetary Fund.

Page 10: ASX-listed online recruiter Seek has warned it was ‘‘unlikely’’ that automation would create more new jobs than the ones that will be lost.

Page 15: Coca-Cola Amatil is aiming to restore profit growth in its Australian beverages business by throwing its weight behind Brand Coke and Mount Franklin rather than developing new products and moving into new categories.

Page 17: Fortescue has urged investors to focus on the relatively steady profit margin it is making on each tonne of iron ore, after China’s preference for higher grade iron reduced the company’s underlying earnings by almost $1 billion over the past six months.

Page 19: Seven Group Holdings chief executive Ryan Stokes has fired his first public shot across the bows of parties involved in the $600-plus million takeover play for AWE.

 

 

The Australian

Page 1: Mathias Cormann will use his platform as the country’s Acting Prime Minister to escalate the government’s campaign to secure company tax cuts, writing to Senate crossbenchers and urging them to protect Australian jobs.

The retired detective who led the police investigation into the Australian Workers Union fraud scandal has broken his silence, calling for a fresh probe into an alleged conspiracy between former union officials and executives from construction giant Thiess that he claims extended to Julia Gillard’s old law firm.

Page 6: Students would be taught according to their ability rather than their age and conventional performance tools such as A-to-E grades and school reports would be scrapped under a proposal to redefine what it means to be successful in the classroom.

Page 17: The bosses of the nation’s 12 biggest power and gas companies have vowed not to follow the banks into royal commission territory, committing to regain consumer trust through a new code of conduct designed to curb price rises and meet community expectations.

Page 25: Australia’s largest residential developer Stockland expects the housing cycle has further to run even as the rate of price growth moderates, given an undersupply of stock in the major cities and continued low interest rates.

 

 

The West Australian

Page 1: The WA economy is rebounding and should start delivering a better jobs market and higher wages to the State’s workers, a report out today shows.

Page 4: As Australia’s political leaders prepare to sign a landmark economic pact with all 50 US governors in Washington this weekend, Mr McGowan has the powerhouse State of Texas in his sights for a possible new sister state relationship with WA.

The Federal Government hopes to cut the cost of interacting with taxpayers by up to $16.50 a transaction with a new digital identity regime.

Page 7: Tourist numbers from Britain could be about to explode with imminent direct flights to London creating a Perth buzz in British travel circles.

Page 10: Build it, and they will come was the closest the Barnett government came to a long-term business case for a bungled Pilbara housing project that cost $95 million more than promised, according to the Langoulant report.

Business: Wesfarmers is closing in on an exit from its pokies-linked hotels business, admitting yesterday it was “a reluctant owner” of the 89 east coast pubs and their 3000 gaming machines.

High-flying gold miner St Barbara has revealed a new mine plan to extend the life of the Gwalia gold project near Leonora out to 2031, seven years longer than previously planned.

WA’s fledgling hemp industry has received a major boost after the McGowan Government revealed plans to loosen a legislative barrier that has been limiting local production.

Independence Group has posted an 84 per cent dive in first-half profit to $3.2 million, mainly because of previously flagged $70 million of depreciation and amortisation charges.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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