14/03/2018 - 06:20

Morning Headlines

14/03/2018 - 06:20

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Robin Hood bid to win election

Bill Shorten is planning a Robin Hood election campaign with policies that take $210 billion from high-income earners, investors and large companies to be redistributed to lower-income groups through tax cuts and to small business. The Aus

Strongest growth predicted since global financial crisis

The Organisation for Economic Cooperation and Development has backed Treasury and Reserve Bank of Australia forecasts for a lift in economic growth, thanks to stronger commodity prices and rising jobs growth. The Fin

Uber-style workers face new legal clamp

The State Government might declare war on Uber’s business model by bringing gig economy contractors under WA’s industrial relations system. The West

Shorten sting hits $150bn of SMSF shares

Up to $150 billion worth of funds now invested in Australian shares by pensioners reliant on self-managed superannuation funds for income could be redirected into an already-heated property market under Bill Shorten’s proposed dividend imputation crackdown. The Aus

Chinese tourists help spending top $40bn

Spending by international visitors to Australia rose to $40 billion for the first time last year, with about a quarter of that money coming from the Chinese market. The Fin

Micro lots to get WA test drive

In a bid to tackle housing affordability from a different angle, the WA Planning Commission has today unveiled a plan to test-drive micro lots — for terrace houses on sites of 100sqm or less. The West

BHP oil division stymies S&P upgrade

BHP’s petroleum division no longer provides the diversification benefits it once did, according to ratings agency Standard & Poors, which has cited that lack of diversification as one factor holding the miner back from a ratings upgrade. The Fin

Tasty cheese slice suits China

Brownes, WA’s oldest dairy, is planning a $10 million revival of the mothballed Brunswick cheese factory, to eventually produce about 6000 tonnes of cheese, most of which will go to China. The West

Bill for outside help hits $7bn

Taxpayers have shelled out more than $7 billion for government consultants and contractors over five years, and spending on labour hire is rising rapidly, submissions to a parliamentary inquiry reveal. The Aus

NAB bankers took cash bribes to falsify loans and earn bonuses

National Australia Bank employees in greater western Sydney were accepting cash bribes over the counter in white envelopes to facilitate loans they knew were based on fake documents in order to smash targets and collect bonuses. The Fin

 

 

The Australian Financial Review

Page 2: The Organisation for Economic Cooperation and Development has backed Treasury and Reserve Bank of Australia forecasts for a lift in economic growth, thanks to stronger commodity prices and rising jobs growth.

National Australia Bank employees in greater western Sydney were accepting cash bribes over the counter in white envelopes to facilitate loans they knew were based on fake documents in order to smash targets and collect bonuses.

Page 3: China has raised concerns about the long visa approval process for government-funded postgraduate students seeking to study at Australian universities amid suggestions the delays are politically motivated following fears about Beijing’s alleged influence on university campuses.

Tougher requirements on charities are needed to stop terrorists exploiting humanitarian aid as cover for extremist activities, a top think tank is warning the Turnbull government.

Page 4: Labor leader Bill Shorten announced yesterday that he would, if elected, introduce an Australian Investment Guarantee in which all businesses would be able to immediately deduct 20 per cent off any new eligible asset worth more than $20,000.

Page 8: Prime Minister Nguyen Xuan Phuc has flagged closer cooperation with Australia to deal with tensions in the South China Sea as he warned all sides to refrain from using force and intimidation.

Page 9: Ernst & Young has become the second big four firm to reveal that its male and female partners of similar seniority are paid virtually the same and has publicly announced a target to have women make up 30 per cent of the highest-earning partners at the outfit by 2020.

Page 12: Andrew Liveris, one of the country’s most senior international business leaders, has finalised his retirement from US multinational DowDuPont and says he plans to pursue corporate and public policy work including in his native Australia.

Page 13: Energy policy supremo Kerry Schott has sought to calm fears that the proposed National Energy Guarantee will only push up costs of power supply, saying ‘‘the worst is over’’ on electricity price hikes despite the ‘‘absolute megadisruption’’ going on across the sector.

Page 16: BHP’s petroleum division no longer provides the diversification benefits it once did, according to ratings agency Standard & Poors, which has cited that lack of diversification as one factor holding the miner back from a ratings upgrade.

Page 17: The Reserve Bank has hit back at claims the major banks will stifle access to the ‘‘new payment platform’’, the new system that facilitates real-time transactions for individuals and businesses.

Page 18: A string of large Australian companies have been earmarked by Credit Suisse as potential takeover targets as the stockbroker predicts a step-up in merger and acquisition activity because of generally strong balance sheets, solid cash flow and capital markets around the world being ready to finance deals.

 

 

The Australian

Page 1: More than 610,000 Australians on the lowest annual incomes stand to lose an average of $1200 a year in tax refunds under Bill Shorten’s proposal to abolish cash rebates for tax credits on shares held by retirees, investors and ordinary taxpayers.

Mr Trump has nominated CIA director Mike Pompeo to replace Mr Tillerson as America’s top diplomat. The President nominated CIA deputy director Gina Haspel as the first woman head of the agency.

Bill Shorten is planning a Robin Hood election campaign with policies that take $210 billion from high-income earners, investors and large companies to be redistributed to lower-income groups through tax cuts and to small business.

Page 2: Taxpayers have shelled out more than $7 billion for government consultants and contractors over five years, and spending on labour hire is rising rapidly, submissions to a parliamentary inquiry reveal.

Malcolm Turnbull will spend $5.2 billion acquiring 211 new Combat Reconnaissance Vehicles for the defence force, creating 1450 jobs across the nation.

Page 4: National retailers have made an extraordinary call for a freeze on the minimum wage as federal Labor suggested an above inflation increase for the nation’s lowest paid.

Page 5: The people at the centre of one of Australia’s largest tax fraud cases could face “a raft of fresh or amended charges” from prosecutors who, 10 months after charges were first laid, say they are still wading through 19 million documents relating to alleged crimes.

Page 19: Up to $150 billion worth of funds now invested in Australian shares by pensioners reliant on self-managed superannuation funds for income could be redirected into an already-heated property market under Bill Shorten’s proposed dividend imputation crackdown.

Page 21: Rio Tinto has expanded its Serbian copper exploration interests, striking an earn-in deal with recently relisted tiddler Raiden Resources.

Spending by international visitors to Australia rose to $40 billion for the first time last year, with about a quarter of that money coming from the Chinese market.

Page 26: Pay rises in the property industry are outstripping other sectors, with junior staff enjoying the best gains and companies moving to quarterly salary reviews to protect their best employees from poachers.

 

 

The West Australian

Page 1: Up to one million customers have been ripped off by some of the country’s most trusted financial institutions, according to revelations on the first day of the royal commission on the financial sector.

Page 3: The State Government might declare war on Uber’s business model by bringing gig economy contractors under WA’s industrial relations system.

Page 10: A refurbishment of Moora Residential College could cost as much as $11 million, the State Government revealed yesterday after a fiery rally on the steps of Parliament.

Page 14: A former City of Perth contract manager is facing the prospect of prison after admitting to official corruption, taking bribes and lying to the Corruption and Crime Commission — allegations that prompted a bolt to Canberra and an arrest at a brothel.

Page 16: Qantas has unveiled its new international wing at Perth Airport’s Terminal 3 for the nonstop service to London, promising a more hassle-free experience than T1.

Page 19: A $50 million early childhood partnership between the State Government, Telethon Kids Institute and Andrew Forrest’s Minderoo Foundation will bridge a developmental gap for disadvantaged children.

Business: Brownes, WA’s oldest dairy, is planning a $10 million revival of the mothballed Brunswick cheese factory, to eventually produce about 6000 tonnes of cheese, most of which will go to China.

National surveying group Veris has expanded into the professional and advisory space with its equal-biggest acquisition to date.

The Indonesian predator stalking Finders Resources was yesterday continuing to buy shares in the target after formally declaring it would not be lifting its $175 million offer for the copper miner.

Property: Prestige aged-care and homecare services group Oryx Communities has won the right to develop a coveted 5473sqm site in LandCorp’s Claremont on the Park development.

In a bid to tackle housing affordability from a different angle, the WA Planning Commission has today unveiled a plan to test-drive micro lots — for terrace houses on sites of 100sqm or less.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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