16/03/2018 - 06:15

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16/03/2018 - 06:15

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Low fuel stocks a major security concern for ‘vulnerable’ Australia

A report from the government controlled intelligence committee has recommended Australia’s record low emergency fuel reserves be listed as a critical national security issue with the Home Affairs Department handed oversight to increase stocks. The Aus

Widodo seeks deeper, closer ties with Australia

Indonesian President Joko Widodo has sought to reassert his country’s role as a regional leader, saying he wants to join the Trans-Pacific Partnership and seal a free trade deal with Australia as well as closer defence and diplomatic ties. The Fin

Smith floats new review of GST deal

WA Liberal Dean Smith has called on all political parties to bring on a fresh inquiry into the 20-year-old GST agreement and Federal-State relations, opening the door to debate on the ability of States to raise income tax. The West

Tax agents blamed for rorts

Tax Commissioner Chris Jordan put the accounting profession on notice, describing a ‘‘disturbing’’ level of abuse emanating from returns, especially those prepared by agents. The Fin

NDIS billions behind housing boom

A pipeline of almost $6 billion worth of housing investment for disabled people will soon be unleashed as part of the $22bn National Disability Insurance Scheme which will help fund at least 10,500 more supported places across the country. The Aus

Lenders exceed APRA buffer by $5b

A record $5 billion worth of mortgages sold in the December quarter of 2017 fell outside APRA’s minimum loan serviceability buffers, as major lenders fight for market share and bigger profits in tougher real estate markets. The Fin

AWE bid extended by Mitsui

Japanese suitor Mitsui & Co has extended the deadline for its $602 million takeover offer for AWE as its stake in the Perth Basin gas play is yet to reach double figures. The West

‘Easy money has gone’ in lithium

Retail investors in the popular battery minerals sector have been warned they need to be much more choosy after a roller-coaster ride in some stock prices in recent years amid investment crazes for graphite, then lithium and then cobalt. The Fin

Toys ‘R’ Us falls victim to its discount rivals

Toys ‘R’ Us’ 45 Australian stores are facing sale or closure with the loss of up to 2700 jobs following the collapse of the chain’s US parent after a failed rescue. The West

 

 

The Australian Financial Review

Page 1: Indonesian President Joko Widodo has sought to reassert his country’s role as a regional leader, saying he wants to join the Trans-Pacific Partnership and seal a free trade deal with Australia as well as closer defence and diplomatic ties.

Page 3: The nation’s single-biggest beneficiary of the dividend cash-refund system Labor plans to scrap on fairness grounds – the Future Fund that last year received a tax office cheque for $817 million – will be exempted.

The South African government has questioned moves by Home Affairs Minister Peter Dutton to prioritise visas for white farmers facing land seizures, suggesting Australia should have raised concerns through traditional diplomatic channels.

Page 4: A healthcare equipment company at the centre of a landmark criminal cartel case allegedly sought to create a price-fixing deal covering more than 40 businesses across the country, court documents reveal.

Andrew Forrest could be heading back to the High Court after losing the latest round in the battle over sand mining on his Minderoo cattle station.

Page 5: Tax Commissioner Chris Jordan put the accounting profession on notice, describing a ‘‘disturbing’’ level of abuse emanating from returns, especially those prepared by agents.

Page 6: Commonwealth Bank CEO Ian Narev acknowledged the current system of remuneration for mortgage brokers was inherently conflicted and was leading to brokers writing bigger loans in order to collect bigger upfront and trailing commissions.

Page 7: The Australian Competition and Consumer Commission, in an interim report into the banks’ mortgage pricing decisions from 2015 to 2017, found they were using ‘‘opaque’’ discount rates that made it difficult for borrowers to effectively shop around.

Page 14: One of Australia’s biggest energy companies, AGL Energy, has backed the design of the Turnbull government’s National Energy Guarantee to impose emission obligations on retailers rather than generators.

Page 27: Newcrest Mining chief executive Sandeep Biswas says the gold producer needs to conduct some ‘‘soul searching’’ to work out how to avoid disruptions at its mines, amid early indications its most profitable asset will be out of action for at least a month.

A US pension fund has accused former BHP executive Marcus Randolph of ‘‘inexcusable’’ delay tactics and ‘‘gamesmanship’’ and asked a court to compel him to produce documents relating to management and oversight of the dams at Brazil’s infamous Samarco iron ore operation.

Page 28: A record $5 billion worth of mortgages sold in the December quarter of 2017 fell outside APRA’s minimum loan serviceability buffers, as major lenders fight for market share and bigger profits in tougher real estate markets.

Page 30: Retail investors in the popular battery minerals sector have been warned they need to be much more choosy after a roller-coaster ride in some stock prices in recent years amid investment crazes for graphite, then lithium and then cobalt.

 

 

The Australian

Page 1: Sacked Border Force chief Roman Quaedvlieg modified internal policies to get his girlfriend a job, concealed his relationship with her from his bosses, broke his oath as commissioner and “wilfully or recklessly’’ misled his own minister.

Page 2: A report from the government controlled intelligence committee has recommended Australia’s record low emergency fuel reserves be listed as a critical national security issue with the Home Affairs Department handed oversight to increase stocks.

Page 4: The growth in federal and state public services is outstripping the private sector and being financed by an unsustainable increase in taxation, a Commonwealth Bank analysis finds.

A pipeline of almost $6 billion worth of housing investment for disabled people will soon be unleashed as part of the $22bn National Disability Insurance Scheme which will help fund at least 10,500 more supported places across the country.

Page 6: Pauline Hanson’s north Queensland heartland has been targeted as part of an 11th-hour campaign by the business community to pressure One Nation and fellow Senate crossbenchers to pass the remainder of the corporate tax cuts, with claims that unless big business was included, tax cuts for small businesses would become “meaningless”.

Page 22: The BHP Billiton dual-listed company structure under attack from activist hedge fund Elliott Management is unlikely to be unwound any time soon, according to UBS analysts, whose latest analysis shows little compelling reason to pursue unification.

Coles boss John Durkan has snuffed out any hope the supermarket price wars of the past 10 years are about to end, arguing he expected grocery prices to fall around 1 per cent a year for the foreseeable future despite retailer margins being squeezed by higher power and wage costs.

 

 

The West Australian

Page 1: Welfare cheats with millions of dollars in unexplained wealth that may be linked to money laundering, drug trafficking and even terrorism have been caught in the net of a Federal Government crackdown and ordered to pay back more than $40 million in Centrelink payments.

Page 5: Terminally ill cancer patients are having to pay $150,000 a year for lifesaving treatment even though it has been recommended for government subsidy.

Page 12: WA Liberal Dean Smith has called on all political parties to bring on a fresh inquiry into the 20-year-old GST agreement and Federal-State relations, opening the door to debate on the ability of States to raise income tax.

Business: Altura Mining has confirmed it is in takeover talks with its Chinese offtake partner and major shareholder in what could be the catalyst for a wave of takeover activity in the WA battery minerals sector.

Toys ‘R’ Us’ 45 Australian stores are facing sale or closure with the loss of up to 2700 jobs following the collapse of the chain’s US parent after a failed rescue.

Japanese suitor Mitsui & Co has extended the deadline for its $602 million takeover offer for AWE as its stake in the Perth Basin gas play is yet to reach double figures.

WA consumers are being urged by the State Government to support the State’s embattled $23 million rockmelon industry.

Chinese authorities are reportedly chasing overdue bills from HNA, the big-spending conglomerate contracted to buy car dealer Automotive Holdings Group’s $400 million refrigerated logistics business.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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