Morning Headlines

Tuesday, 27 March, 2018 - 06:09

WA goes it alone on energy

WA is unlikely to sign up to the Turnbull Government’s flagship energy plan, with the McGowan Government saying it does not want to be dragged into the “nightmare” of east coast energy policy. The West

Transit projects a priority in $55bn spend

Rapid transit plans in Brisbane, Sydney, Melbourne and Perth have been added to $55 billion worth of priority projects in the latest Infrastructure Australia list but it warns billions of dollars will have to be set aside to preserve land to enable them to proceed. The Aus

Labor back tracks on shares grab

More than 300,000 low-income retirees will be spared from Labor’s plan to scrap cash payments for excess franking credits after the opposition amended the policy to exempt full and part-time pensioners, as well as every pensioner who is currently a recipient from a self-managed superannuation fund. The Fin

Bets on foreign lotteries off soon

Online gambling operators will be banned from allowing bets on overseas lotteries, including Keno draws, under a government crackdown driven by One Nation aimed at shutting down foreign-based betting agency Lottoland. The Aus

Shell to take on energy retailers

Global energy giant Royal Dutch Shell is considering breaking into Australia’s domestic energy retail market to take on the established players of Origin Energy, AGL Energy and EnergyAustralia in what could be the biggest market shake-up in decades. The Fin

Hinch names price on tax: revamp overseas legal aid

Senate crossbencher Derryn Hinch has revealed a new bargaining chip in the company tax debate, demanding changes to a taxpayer-funded scheme that has paid $500,000 in legal costs for accused paedophile and child killer Peter Scully. The Aus

Ichthys hit by delay to platform

First production from the Ichthys LNG plant in Darwin has again been delayed as operator Inpex continues readying the $US37 billion project’s giant floating central processing platform. The West

Royalty rules changes a worry to gas projects

Woodside Petroleum’s Browse gas project has emerged as the key target for the expected toughening up of the rules on petroleum royalty taxation, highlighting concerns that any scaling back of generous deductions for spending risks derailing more than $50 billion of investment across the industry. The Fin

 

 

The Australian Financial Review

Page 1: More than 300,000 low-income retirees will be spared from Labor’s plan to scrap cash payments for excess franking credits after the opposition amended the policy to exempt full and part-time pensioners, as well as every pensioner who is currently a recipient from a self-managed superannuation fund.

Commonwealth Bank of Australia’s new CEO, Matt Comyn, has executed a purge of Ian Narev’s old guard as he works to restore the bank’s battered reputation with sweeping changes to the senior management ranks, leaving an unprecedented five group executive roles vacant.

Page 3: Global energy giant Royal Dutch Shell is considering breaking into Australia’s domestic energy retail market to take on the established players of Origin Energy, AGL Energy and EnergyAustralia in what could be the biggest market shake-up in decades.

Page 4: Fewer than one in five of Australia’s leading chief executives say they will use the Turnbull government’s proposed company tax cut to directly increase wages or employ more staff, according to a secret survey conducted by the Business Council of Australia.

Page 5: Former Prime Minister Tony Abbott is working to build support within the party to run for leader again if the Coalition loses power at the next election, say party members and supporters who know him.

Page 8: Domino’s Pizza has jettisoned its new enterprise agreement in a shock announcement after union claims the deal failed the requirements of the Fair Work Act.

The construction industry is resorting to its own training programs to fill the gap where the Vocational Education Training sector is falling down.

Page 9: Renewable energy produced more electricity than brown coal over the summer for the first time, as well as out-generating gas turbines for a third year running, new analysis shows.

Page 11: Treasury Secretary Steven Mnuchin says he’s optimistic the US can reach an agreement with China that will avert the need to impose tariffs on $US60 billion ($78 billion) of goods from the country.

Page 17: Myer has ruled out placing the beleaguered retailer into voluntary administration to hasten the exit or renegotiation of $2.7 billion in leases.

Woodside Petroleum’s Browse gas project has emerged as the key target for the expected toughening up of the rules on petroleum royalty taxation, highlighting concerns that any scaling back of generous deductions for spending risks derailing more than $50 billion of investment across the industry.

Page 23: Optus boss Allen Lew says the telco is ready to steal a march on Telstra in 5G and will go all in for more soccer rights in a bid to be respected as a content creator and broadcaster.

Page 24: Telstra has ditched SAP to sign on with fast-growing US cloud software firm Workday, as it appoints a new local boss and hunts Aussie start-ups for its new $US250 million ($323 million) VC fund.

 

 

The Australian

Page 4: Senate crossbencher Derryn Hinch has revealed a new bargaining chip in the company tax debate, demanding changes to a taxpayer-funded scheme that has paid $500,000 in legal costs for accused paedophile and child killer Peter Scully.

Social housing tenants would be made to pay market rents under an overhaul of the low-income housing system that would see $1.2 billion added to commonwealth rent assistance, with states on the hook to fund additional subsidies for people living in areas with acute affordability problems.

Page 5: Online gambling operators will be banned from allowing bets on overseas lotteries, including Keno draws, under a government crackdown driven by One Nation aimed at shutting down foreign-based betting agency Lottoland.

The powerful teachers’ union has declared war on the Turnbull government, promising to turn the might of its 187,000 members against politicians in marginal seats in a bid to restore funding it claims the Coalition has stripped from public schools.

Page 6: Cricket Australia could fall up to $200 million short of its ambitious $1 billion target for its media rights, according to former sporting officials and analysts, as it embarks on a desperate rescue mission to prevent some of its sponsors from leaving the game.

Page 17: The biggest institutional shareholders in AMP will launch a renewed push on the group’s senior management to break up the $15 billion wealth management company, as under-pressure chief executive Craig Meller plans to leave the group at the end of the year.

Page 19: Rapid transit plans in Brisbane, Sydney, Melbourne and Perth have been added to $55 billion worth of priority projects in the latest Infrastructure Australia list but it warns billions of dollars will have to be set aside to preserve land to enable them to proceed.

Page 20: Billionaire Gerry Harvey’s dreams of creating a thriving dairy empire within his international furniture, bedding and consumer electronics retailer Harvey Norman have soured, after a jointly-owned Victorian farm was placed into administration.

 

 

The West Australian

Page 14: The hunt has begun for WA’s new chief justice after incumbent Chief Justice Wayne Martin yesterday announced he was stepping down after 12 years in the State’s most senior legal seat.

Infrastructure Australia has dropped the contentious Perth Freight Link off its list of priority national projects and elevated easing the city’s congested freeways to the top of its list.

Business: WA is unlikely to sign up to the Turnbull Government’s flagship energy plan, with the McGowan Government saying it does not want to be dragged into the “nightmare” of east coast energy policy.

Eye scanning and artificial intelligence developed in Perth to help fight diabetes-related blindness may return production to WA as the Silicon Valley company which owns the technologies looks to list locally.

Titan Minerals is to take control of a flagship project in South America by buying an unlisted Peruvian-focused miner for $19 million in shares.

First production from the Ichthys LNG plant in Darwin has again been delayed as operator Inpex continues readying the $US37 billion project’s giant floating central processing platform.

State-owned power provider Synergy will fork out an extra $20 million to close down the Muja AB power station in a final sting in the tail for the ill-fated refurbishment of the plant.

Joint venture partners SRG and Georgiou Group have won a $43 million highway upgrade contract in NSW.