21/03/2018 - 06:13

Morning Headlines

21/03/2018 - 06:13

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Morning Headlines

Company tax cut deal edges closer

Senators Pauline Hanson and Derryn Hinch say they will support the company tax cuts if they can be assured it will lead to increased wages, boosting hopes inside government it will win Senate backing for the remainder of its package by Easter. The Fin

Costello in warning on rates pain

Homeowners should brace for “painful” consequences, including falling property prices, as interest rates rise from historically low levels, Peter Costello warned yesterday, as Queensland home lender Suncorp kicked off what could be a sharp rise in borrowing costs. The Aus

Construction company Pindan pledges it will pay creditors

Funds management and construction group Pindan has confirmed it is behind in payments to subcontractors and other creditors, but says it is not about to become the latest victim of an industry downturn in Western Australia. The Fin

BGC buys Buckeridge’s widow’s share for $8m

Construction and building products giant BGC has paid $8 million to buy founder Len Buckeridge’s widow out of a lifetime dividend stream generating more than $500,000 a year. The West

Rio sells Hail Creek to Glencore

Rio Tinto has sold its Hail Creek and Valeria coal assets in Queensland to Glencore for $US1.7 billion ($2.2 billion), in a deal that increases the Swiss miner’s dominance of Australian coal. The Fin

Ponzi accused a bankrupt

Accused Ponzi princess Veronica Macpherson — who stands accused of owing more than $250 million to thousands of investors in her failed Pilbara property scheme — was declared personally bankrupt yesterday. The West

China’s new central bank chief vows to enact reform and open up economy

Fresh from his appointment as governor of the People’s Bank of China, announced on Monday at the annual legislative session, Yi Gang said “there will be a series of reform and opening-up measures” during the next three week. The Aus

Saudi sheep trade to resume

The multimillion-dollar live sheep export trade to Saudi Arabia is likely to resume by midyear, after successful continuing negotiations between the Australian and Saudi Arabian governments. The West

Regulator slams Facebook over breach

The federal government’s information commissioner has demanded answers from social network giant Facebook over revelations a key company behind Donald Trump’s election campaign accessed the data of 50 million users without permission. The Fin

Holiday Inn sells for $65m

Long-time friends and business partners Constantine Berbatis and George Atzemis have sold Holiday Inn Perth City Centre to a Singaporean investor for a rumoured $65 million. The West.

 

 

The Australian Financial Review

Page 1: Senators Pauline Hanson and Derryn Hinch say they will support the company tax cuts if they can be assured it will lead to increased wages, boosting hopes inside government it will win Senate backing for the remainder of its package by Easter.

Page 3: The federal government’s information commissioner has demanded answers from social network giant Facebook over revelations a key company behind Donald Trump’s election campaign accessed the data of 50 million users without permission.

Page 4: Labor is leaning towards exempting low-income pensioners from its policy to scrap franking credit refunds, to head off a backlash from retirees and take the sting out of a growing campaign by the Turnbull government.

Page 5: Australian Council of Trade Unions secretary Sally McManus has called for a radical overhaul of the labour-hire industry, new workplace rights for the gig economy, limits on the use of casuals, and government procurement rules that preference ‘‘fair pay and secure work’’.

Page 7: The Turnbull government has launched a fresh push to get laws blocking the merger of the militant construction and maritime unions passed in the Senate, sparking union concerns the bill could get voted through this week.

Page 8: Hospitality industry super fund Hostplus is sinking $27 million into Oxford Nanopore Technologies, a UK based company that has developed a revolutionary hand-held device that it hopes will dramatically expand access to DNA testing with potential applications in early detection of cancer and birth defects.

Page 11: Funds management and construction group Pindan has confirmed it is behind in payments to subcontractors and other creditors, but says it is not about to become the latest victim of an industry downturn in Western Australia.

Page 15: TPG Telecom is expected to bid aggressively to secure vital 5G spectrum at the government’s upcoming auction in October.

Page 17: Rio Tinto has sold its Hail Creek and Valeria coal assets in Queensland to Glencore for $US1.7 billion ($2.2 billion), in a deal that increases the Swiss miner’s dominance of Australian coal.

Page 18: Ratings agency Moody’s Investors Service has reaffirmed Wesfarmers’ A3 short- and long-term credit ratings even though the $18 billion spin-off of Coles weakens the conglomerate’s credit metrics.

Page 19: Lenders’ mortgage insurance has been identified by the chair of the Productivity Commission as a sector that warrants further scrutiny because customers may not be aware whether they are paying a fair price for the product.

 

 

The Australian

Page 1: Homeowners should brace for “painful” consequences, including falling property prices, as interest rates rise from historically low levels, Peter Costello warned yesterday, as Queensland home lender Suncorp kicked off what could be a sharp rise in borrowing costs.

Page 9: The syphilis epidemic ravaging remote indigenous communities across northern and central Australia might have been averted if public sexual health services had survived 2012 spending cuts by the Newman government, it has been claimed.

Page 18: Rio Tinto has warned that company tax cuts are needed “sooner rather than later”, with the nation’s tax take already the second highest in the developed world before the recent cuts announced by the US, Britain and other countries.

Reserve Bank assistant governor Michele Bullock says the central bank has no appetite to issue its own cryptocurrency, warning it could prompt a bank run in the event of a crisis.

The Australian-based daigou, or personal shoppers, are becoming increasingly important in selling Australian food products to Chinese consumers, according to Livia Wang, director of consulting firm Access CN.

Page 21: TPG Telecom owned iiNet and Internode have become the latest NBN resellers to refund customers for poor service quality, with 11,000 of them in line to receive compensation.

Page 24: Fresh from his appointment as governor of the People’s Bank of China, announced on Monday at the annual legislative session, Yi Gang said “there will be a series of reform and opening-up measures” during the next three week

 

 

The West Australian

Page 1: One of Australia’s biggest international stars is about to join the quokka selfie craze after the State Government complained WA had been short-changed in Tourism Australia’s Super Bowl advertising campaign.

Page 6: WA’s peak independent schools body has condemned Opposition Leader Bill Shorten’s $250 million promise to Catholic schools, warning it risks a return to a patchwork system of 27 funding models.

Page 7: Accused Ponzi princess Veronica Macpherson — who stands accused of owing more than $250 million to thousands of investors in her failed Pilbara property scheme — was declared personally bankrupt yesterday.

Page 8: Soaring health insurance premiums have struck a nerve with consumers, with more than half considering going without cover.

Page 11: Premier Mark McGowan has taken his fight for high-rise buildings to Perth’s leafy western suburbs, saying the super-rich enclave of Cottesloe “desperately” needs new development.

Page 12: Federal Labor will today launch a campaign promising to fix the country’s hospitals, taking aim at a national hospital funding deal that has been accepted by WA Premier Mark McGowan.

Business: Construction and building products giant BGC has paid $8 million to buy founder Len Buckeridge’s widow out of a lifetime dividend stream generating more than $500,000 a year.

The multimillion-dollar live sheep export trade to Saudi Arabia is likely to resume by midyear, after successful continuing negotiations between the Australian and Saudi Arabian governments.

Property: The Metropolitan Redevelopment Authority’s acting boss Sean Henriques has declared its agendas and minutes will be made public under “enhancements” to the body’s statutory planning processes.

Long-time friends and business partners Constantine Berbatis and George Atzemis have sold Holiday Inn Perth City Centre to a Singaporean investor for a rumoured $65 million.

A historic West End building leased to a Commonwealth Government tenant and next door to the landmark Fremantle Customs house will be auctioned on Friday.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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