Morning Headlines

ACTU makes record minimum wage claim

The Australian Council of Trade Unions has made its biggest minimum wage claim yet, calling on the Fair Work Commission to increase rates this year by an extraordinary 7.2 per cent or $50 a week. The Fin

Pressure builds to end solar policy

Energy Minister Josh Frydenberg faces a backbench revolt with pressure building to end subsidies for solar panels. The Aus

Labor to cut dividends cash refund

More than a million shareholders, including self-funded retirees, who pay little or no tax would lose cash refunds for excess dividend imputation credits, under a proposed crackdown by Labor that would reap an estimated $59 billion in revenue over the next decade. The Fin

Health scare hits WA melon sales

WA rockmelon growers are at risk of financial devastation because of the isolated listeria contamination in the Eastern States which has claimed four lives. The West

BCA seeks end to states’ green energy targets

The Business Council of Australia has called on state and territory governments to abandon their respective renewable energy targets, saying they will push up electricity prices and threaten the success of the Turnbull government’s National Energy Guarantee. The Fin

Quintis growers risk sandalwood shut-out

Quintis receivers could withhold permission for rebellious sandalwood growers to access their plantations in the Kimberley after the company was ostensibly stripped of management rights to two managed investment schemes yesterday. The West

IMF blames productivity for weak wages

The era of low wages growth has more to do with high unemployment rates and weak productivity growth than automation or falling union membership, according to an IMF study. The Fin

‘Car firms must come clean on fuel use’

The competition watchdog says motorists are being misled by unreliable claims of vehicle performance, as real-world testing of a recalled VW showed it used up to 14 per cent more fuel after a “dieselgate” pollution fix. The Aus

Another billion-dollar blow adds to woes for Sino Iron project

The hits keep coming for CITIC’s magnetite project in Western Australia, with the Chinese conglomerate warning of a write-down of up to $US1 billion. The Fin

The Australian Financial Review

Page 1: More than a million shareholders, including self-funded retirees, who pay little or no tax would lose cash refunds for excess dividend imputation credits, under a proposed crackdown by Labor that would reap an estimated $59 billion in revenue over the next decade.

Page 3: National Australia Bank is preparing to hit back at claims by the Finance Sector Union that it failed to discipline senior staff over a series of fraudulent mortgages, and has been tightening the eligibility criteria for its ‘‘introducer program’’, the first target of the financial services royal commission.

Page 4: The federal government will not back the European Union’s action against the Trump administration’s tariffs on steel and aluminium because of the exemptions granted to Australia, Prime Minister Malcolm Turnbull says.

The era of low wages growth has more to do with high unemployment rates and weak productivity growth than automation or falling union membership, according to an IMF study.

The Australian Council of Trade Unions has made its biggest minimum wage claim yet, calling on the Fair Work Commission to increase rates this year by an extraordinary 7.2 per cent or $50 a week.

Page 5: Big four accounting and consulting firm PwC has revealed its male and female partners of similar seniority are paid virtually the same, but male partners overall are paid 16 per cent more on average because they make up more of the senior ranks.

Page 6: The Australian Greens will up the ante over climate change ahead of Saturday’s Batman byelection clash with Labor by calling for all new petrol and diesel cars to be banned by 2030.

Page 10: The Business Council of Australia has called on state and territory governments to abandon their respective renewable energy targets, saying they will push up electricity prices and threaten the success of the Turnbull government’s National Energy Guarantee.

Page 11: China, Canada and Hong Kong are among the economies most at risk of a banking crisis, according to early warning indicators compiled by the Bank for International Settlements.

Page 17: US trumps Australia for solar investor New Energy Solar has its eye on more acquisitions in the US as the fastgrowing solar infrastructure owner looks to build up its portfolio, but chief executive John Martin says adding an Australian project may take longer given the higher risk of investment in the booming solar sector here.

Page 18: The Franchise Council of Australia has been taken over by consultants and lawyers, doesn’t represent franchisees, and is in denial about the problems that have prompted a parliamentary inquiry into the sector, according to the founder of the Brumby’s Bakery chain, Michael Sherlock.

Page 19: Car dealerships that have raked in millions of dollars in commissions from selling controversial ‘‘car-yard’’ insurance should be forced to sign the same code of conduct that product manufacturers are subject to.

Page 20: The hits keep coming for CITIC’s magnetite project in Western Australia, with the Chinese conglomerate warning of a write-down of up to $US1 billion ($1.27 billion).

Page 25: Perth institutional stockbroking and advisory firm Ashanti Capital has branched out from its usual small-tomid cap advisory work and invested $5 million in a US high-tech solar and electric aircraft business.

The Australian

Page 1: Bill Shorten has privately endorsed Wayne Swan to become Labor’s national president and is annoyed by another tilt at the job by frontbencher Mark Butler, who has slammed the party for failing to embrace internal reform under his leadership.

Page 3: The competition watchdog says motorists are being misled by unreliable claims of vehicle performance, as real-world testing of a recalled VW showed it used up to 14 per cent more fuel after a “dieselgate” pollution fix.

Page 4: Energy Minister Josh Frydenberg faces a backbench revolt with pressure building to end subsidies for solar panels.

Page 17: Australian banks have already spent more than $60 million fixing issues to be raised in the first fortnight of public hearings by the financial services royal commission, which starts today.

Page 19: BHP will have the option of increasing its stake in the Scarborough gasfields off Western Australia should the project’s new operator, Woodside Petroleum, succeed in its plan to reinvigorate the long-stalled project.

Page 23: NBN Co’s pricing restructure is starting to have a meaningful impact on user experience with the company’s chief customer officer Brad Whitcomb highlighting a significant lowering of congestion on the National Broadband Network during peak times.

Page 25: Bitcoin mania is feeding a rising tide of sophisticated scams as cyber-criminals look to exploit the public’s interest in cryptocurrencies.

The West Australian

Page 6: WA rockmelon growers are at risk of financial devastation because of the isolated listeria contamination in the Eastern States which has claimed four lives.

Page 7: Subcontractors on a Subiaco building site are holding warranties to ransom in a bid to get paid millions of dollars owing to them, with one subbie revealing he has been left $1 million out of pocket.

Page 9: About 3000 Commonwealth child migrants settled in WA after World War II are at the centre of an intensifying row between the State and Federal governments over redress for child sexual abuse victims.

Premier Mark McGowan has relegated plans for ending Synergy’s longstanding monopoly in the household electricity market to a low priority, saying there was no proof competition worked.

Page 10: WA’s first Public Sector Commissioner will end his four decade career this year, the State Government announced yesterday.

Business: Quintis receivers could withhold permission for rebellious sandalwood growers to access their plantations in the Kimberley after the company was ostensibly stripped of management rights to two managed investment schemes yesterday.

Floorwise lodged a writ against the CFMEU with the Supreme Court yesterday demanding the Facebook post be removed and claiming damages.

Australia is still at risk of suffering collateral damage from a global lurch towards protectionism despite securing exemptions from US steel and aluminium tariffs.