10/04/2018 - 06:09

Morning Headlines

10/04/2018 - 06:09

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Telstra warns of record ransomware attacks

The percentage of Australian businesses being hit by ransomware attacks has hit its highest point in three years, with local companies targeted more than overseas peers thanks to the country’s wealthy economy, according to a new Telstra report. The Fin

ALP GST ‘fix’ to leave WA short again

WA’s peak business lobby has slammed Federal Opposition Leader Bill Shorten’s $1.6 billion promise to “fix” WA’s GST allocation, saying the State Government will have to return “cap in hand” to Canberra for more money after only a year. The West

Sheep export row heats up

The Federal Government has sidestepped calls for live animal exports to be banned during the three months of the northern summer despite rising anger about the mass deaths of Australian sheep at sea. The West

Secret plan to cut back on migrants

Home Affairs Minister Peter Dutton proposed cutting the annual immigration intake by 20,000 to cabinet colleagues last year but Malcolm Turnbull and Scott Morrison knocked the idea on the head. The Aus

AUSTRAC makes new money laundering claim

The financial intelligence regulator AUSTRAC has stolen the spotlight from Commonwealth Bank of Australia CEO Matt Comyn on his first day in the top job with allegations that the bank broke the law by knowingly opening transaction accounts for customers it had reasons to suspect of money laundering. The Fin

Rio tax take soars, but ATO sore points remain

Rio’s 2017 taxes paid report shows it paid $4.9 billion in taxes and royalties in Australia, well ahead of the $3.9 billion it paid in 2016. The Fin

Forrest firm shells out for oyster operation

Billionaire Andrew Forrest is planning to diversify into aquaculture by developing a multimillion-dollar edible oyster operation south of Carnarvon. The West

Tax write-off beats company tax cut

Unleashing a direct Trump-style investment subsidy for Australian companies would deliver as much as three times the bang-for-buck as company tax cuts, according to the latest research to be released at the Melbourne Economic Forum. The Fin

 

 

The Australian Financial Review

Page 1: The financial intelligence regulator AUSTRAC has stolen the spotlight from Commonwealth Bank of Australia CEO Matt Comyn on his first day in the top job with allegations that the bank broke the law by knowingly opening transaction accounts for customers it had reasons to suspect of money laundering.

Home Affairs Minister Peter Dutton has positioned himself as the next Liberal Party leader should Malcolm Turnbull fall but says the Prime Minister can, and should, take the government to victory at the next election.

Page 3: Unleashing a direct Trump-style investment subsidy for Australian companies would deliver as much as three times the bang-for-buck as company tax cuts, according to the latest research to be released at the Melbourne Economic Forum.

Page 5: Australian Industry Group chief executive Innes Willox will tell the Brisbane Club on Tuesday that stagnation on industrial relations reform has only worsened since he last complained about the lack of change benefiting employers in 2015.

Page 7: The Australian Energy Market Operator’s audit of thermal power generators will look at the option of extending the life of coal-fired plants beyond their current closing dates, the market operator has confirmed.

A cross-party parliamentary committee has recommended changes to the government’s bill banning foreign political donations, saying greater clarity is needed for non-profit organisations and calling for a new ‘‘transparency register’’ to guide voters.

Page 9: Xi Jinping is expected to announce economic reforms and more open trade policies on Tuesday as the Chinese President uses a gathering of world and business leaders to talk up Beijing’s credentials as an alternative to US protectionism.

Page 11: The yawning gap between the prices that high quality and low quality iron ore are fetching on global markets has forced Atlas Iron into the arms of Perth miner Mineral Resources.

Metcash’s new leadership team is under pressure to repair relationships with IGA retailers following a backlash against recent cost cutting, the rising cost of goods and attempts to muscle in on retailers’ direct relationships with suppliers.

Page 13: It was revealed last night that Blue Sky’s largest shareholder had sold $2.9 million of shares.

Page 14: Kerry Stokes’ Seven Group Holdings has emerged as a thorn in the side of Mitsui, creating a real risk that the Japanese trading giant may fail to secure total ownership of AWE in its $602 million takeover bid.

Rio’s 2017 taxes paid report shows it paid $4.9 billion in taxes and royalties in Australia, well ahead of the $3.9 billion it paid in 2016.

Page 20: The percentage of Australian businesses being hit by ransomware attacks has hit its highest point in three years, with local companies targeted more than overseas peers thanks to the country’s wealthy economy, according to a new Telstra report.

Page 21: NBN will increase its rollout of fibre-to-the-curb and resume the stalled installation of the cables used to provide subscription television and internet. 

 

The Australian

Page 1: Home Affairs Minister Peter Dutton proposed cutting the annual immigration intake by 20,000 to cabinet colleagues last year but Malcolm Turnbull and Scott Morrison knocked the idea on the head.

Page 3: A family daycare operator who had her taxpayer subsidies terminated for producing false statements and documents is also the director of a company that has at least four clients under the $22 billion National Disability Insurance Scheme.

Page 4: The Opposition Leader arrived in Perth on Saturday night — his second trip to the state in as many months — and he is expected to have visited most of the state’s 11 Liberal-held seats by Thursday afternoon.

Page 19: The 99-year-old co-founder of ASX-listed vacuum cleaner chain Godfreys has launched a takeover bid for the company, after its market value fell from more than $100 million when it listed in 2014 to below $10m.

Telstra chief executive Andrew Penn has warned that NBN Co would need to cut its wholesale prices even further for retail telcos to make any money from selling broadband services over the National Broadband Network.

 

 

The West Australian

Page 4: Half of Australians have had a problem with their phone or internet service in the past year and a quarter of those issues took more than four months to be fixed, according to Telecommunications Ombudsman Judi Jones.

Opposition Leader Bill Shorten will continue his blitz of WA electorates today, announcing $64 million for the Stephenson Avenue extension in Perth’s northern suburbs.

Page 5: Australia’s corporate watchdog has rejected claims by money transfer company Bux Global Limited that investigations have cleared the business of wrongdoing.

Page 9: The Federal Government has sidestepped calls for live animal exports to be banned during the three months of the northern summer despite rising anger about the mass deaths of Australian sheep at sea.

Page 11: A local app developer faces the prospect of going bust after the Australian Taxation Office demanded the return of a $35,000 grant it claims it mistakenly gave him 18 months ago.

Page 14: WA’s peak business lobby has slammed Federal Opposition Leader Bill Shorten’s $1.6 billion promise to “fix” WA’s GST allocation, saying the State Government will have to return “cap in hand” to Canberra for more money after only a year.

WA sheep farmers are considering high-tech security upgrades to help monitor their flocks after a spate of thefts left some farmers tens of thousands of dollars out of pocket.

Page 16: The State Government has left the door open to having a separate tourism boss after the departure of a senior bureaucrat.

Business: The 99-year-old co-founder of vacuum cleaner business Godfreys Group has launched a bid to buy back the struggling business and take it private.

Billionaire Andrew Forrest is planning to diversify into aquaculture by developing a multimillion-dollar edible oyster operation south of Carnarvon.

Recovering gold miner Blackham Resources has delivered a record-breaking quarter with production soaring by nearly 40 per cent, but the result failed to impress investors

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