26/11/2013 - 06:25

Morning Headlines

26/11/2013 - 06:25

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Morning Headlines

Industry slams Labor on carbon

Manufacturers and energy suppliers have intensified their push for the swift repeal of the carbon tax, but Labor has dug in after the latest opinion poll shows support for the Abbott government sliding and little appeal for the Coalition’s direct action climate policy. The Fin

Rhodes stakes iron claim

The descendants of a near-forgotten Pilbara mining pioneer have launched a new threat to Gina Rinehart and Rio Tinto’s profits from the massive Hope Downs iron ore mines, lodging a writ in the Supreme Court claiming they are potentially owed hundreds of millions of dollars in royalties. The West

Bishop stays in regular contact with Jakarta

Foreign Affairs Minister Julie Bishop says she has had “regular” talks with her Indonesian counterpart Marty Natalegawa since the spying row broke, but she refused to comment further on Australia’s intelligence activities yesterday, arguing it was not in the national interests of Australia or Indonesia. The West

ABC refused to redact spy details

The ABC rejected a request from Australian intelligence authorities to redact some details of spying activity in Indonesia that has caused a diplomatic rift with Indonesian President Susilo Bambang Yudhoyono and the cancellation of co-operation on asylum-seeker operations. The Aus

Pressure grows to expand online GST

The Labor and Coalition states are united in their in-principle support to extend the goods and services tax to more online foreign purchases, putting pressure on the federal government to abandon its neutral stance and facilitate a change. The Fin

NBN gathers pace after asbestos scare

Telstra plans to return its staff to fixing underground pits and pipes as part of the national broadband network rollout, nearly six months after it halted the remediation work amid reports of improper asbestos handling. The Fin

Rio ends talks to salvage refinery

Mining giant Rio Tinto is expected to decide as early as this week to wind down its Gove alumina refinery in Arnhem Land, potentially devastating a 1500-strong workforce that includes many indigenous employees, after telling Australian governments there is no point in further negotiations. The Aus

Huawei looks to Western Execs

Huawei, which is struggling to break out of the mould of a Chinese company, is recruiting more Western executives and rolling out a long-term incentive program in an effort to attract foreign workers. The Aus

 

 

The Australian Financial Review

Page 1: Manufacturers and energy suppliers have intensified their push for the swift repeal of the carbon tax, but Labor has dug in after the latest opinion poll shows support for the Abbott government sliding and little appeal for the Coalition’s direct action climate policy.

A group of industry superannuation funds has revealed in accounts lodged with the securities regulator that the cost of implementing a key IT project has blown out by another $43 million.

Page 3: The Labor and Coalition states are united in their in-principle support to extend the goods and services tax to more online foreign purchases, putting pressure on the federal government to abandon its neutral stance and facilitate a change.

Page 6: Indonesia has ramped up its retaliation in the phone-tapping spy row with Australia by cutting off police co-operation in combating cyber-crimes such as illegal hacking.

Telstra plans to return its staff to fixing underground pits and pipes as part of the national broadband network rollout, nearly six months after it halted the remediation work amid reports of improper asbestos handling.

Page 7: Industry groups have joined unions in criticising the Abbott government’s crackdown on registered organisations such as labour unions and employer groups, saying the tough penalties and disclosure of senior salaries will deter people from working for them.

Page 8: Australia’s national energy regulator has warned electricity and gas suppliers they are falling short of their obligations on disconnections for vulnerable customers after seven people on life support had been cut off.

Page 10: The Australian Tax Office is targeting small-practice accountants and lawyers who use discretionary trusts to minimise income tax.

Page 13: Falling thermal coal prices and doubts about the viability of new coal mines have forced Aurizon to develop a new plan in a bid to wipe $1 billion from a $6 billion rail and port development in Queensland’s Galilee Basin with India’s GVK Hancock.

Two bidders for Warnambool Cheese & Butter, Murray Goulburn and Bega Cheese, could turn to the Takeovers Panel to derail a revised offer for the producer from Canadian dairy giant Saputo.

Page 15: Fund managers have highlighted Nine Entertainment Co’s Perth and Adelaide television stations as potential sources of growth but the company and the investment community appear less bullish on the broader outlook for the commercial free-to-air market.

Page 16: Brickworks shareholders may have to wait until next year for a critical ruling from the Australian Taxation Office on the $2 billion break-up proposal spearheaded by Mark Carnegie and Perpetual Investments.

 

 

The Australian

Mining giant Rio Tinto is expected to decide as early as this week to wind down its Gove alumina refinery in Arnhem Land, potentially devastating a 1500-strong workforce that includes many indigenous employees, after telling Australian governments there is no point in further negotiations.

The most powerful conservative states were last night leading a national revolt against Abbott government plans to dismantle Labor’s Gonski reforms, amid fears the overhaul will greatly disadvantage school budgets.

Page 2: State leaders are stepping up their case to extend the GST to more online shopping as they try to hammer out a deal with Joe Hockey tomorrow to extend the consumption tax.

The Coalition has paved the way for the repeal of the carbon tax immediately after the new Senate takes office next year, in the likely event it is rejected next month, as business groups called on parliament to scrap the tax.

Page 4: The ABC rejected a request from Australian intelligence authorities to redact some details of spying activity in Indonesia that has caused a diplomatic rift with Indonesian President Susilo Bambang Yudhoyono and the cancellation of co-operation on asylum-seeker operations.

Page 5: The ABC splashed out $23.6 million on contractors in the 2012-13 financial year, an increase of $1.7m compared with the previous year.

Telstra called for more education about the hazards of asbestos yesterday as it revealed that federal workplace safety regulator Comcare was ‘‘at every site with us’’ in the aftermath of this year’s asbestos scares on telecommunications pits used for the National Broadband Network rollout.

Page 17: The Australian arm of an Italian construction firm has taken aim at the dominance of Leighton Holdings and Lend Lease, declaring that procurement processes for big infrastructure projects seem ‘‘almost designed to protect the Australian duopoly’’.

Some shareholders in Warrnambool Cheese & Butter will be worse off after Canadian dairy giant Saputo increased its takeover offer by up to $11.2 million at the same time as the target company scrapped plans to pay special dividends.

Page 18: Aviator and entrepreneur Dick Smith is threatening legal action against Airservices Australia, over a new satellite navigation requirement he believes discriminates against business aircraft.

The Kerry Stokes-backed miner Iron Ore Holdings says it is confident it will receive its first cash-flows from its Iron Valley project by mid-2014, despite project partner Mineral Resources electing not to start construction so far.

Mining giant BHP Billiton had to abandon the official opening of its $US3.2 billion ($3.5bn) Jimblebar iron ore mine expansion yesterday after a key airport in the Pilbara was closed.

Page 19: Shares in GPT Group surged as the market digested the decision by takeover target Commonwealth Property Office Fund (CPA) to cancel an exclusive due diligence agreement with GPT’s rival suitor, a consortium of Dexus and a Canadian pension fund.

Page 21: Huawei, which is struggling to break out of the mould of a Chinese company, is recruiting more Western executives and rolling out a long-term incentive program in an effort to attract foreign workers.

Page 27: Tony Abbott’s brains trust for government technology and communications could be formed by the end of the year, with potential candidates already shortlisted.

 

 

The West Australian

Page 3: Radio personality Eoin Cameron has accused ABC management of instructing him to lie by telling listeners that a fellow presenter was on leave instead of revealing that he had been retrenched.

Page 9: Local government chief executive=s have criticised the State Government for offering them 52 weeks pay upon redundancy but up to 72 weeks to public sector workers.

Page 10: Foreign Affairs Minister Julie Bishop says she has had “regular” talks with her Indonesian counterpart Marty Natalegawa since the spying row broke, but she refused to comment further on Australia’s intelligence activities yesterday, arguing it was not in the national interests of Australia or Indonesia.

WA-based property group Hawaiian has helped fund a new observation area for mental health patients at Sir Charles Gardner Hospital.

Page 14: WA schools are struggling to finalise staffing and education programs for next year because of uncertainty over Federal funding, teachers and principals say.

The Abbott Government appears resigned to the prospect of having to wait until next July to repeal the carbon tax.

The Abbott Government has defended a decision to alter its stance in the United Nations on Israel building Jewish settlements on Palestinian land, saying its approach to the issue should be “balanced”.

Business: The descendants of a near-forgotten Pilbara mining pioneer have launched a new threat to Gina Rinehart and Rio Tinto’s profits from the massive Hope Downs iron ore mines, lodging a writ in the Supreme Court claiming they are potentially owed hundreds of millions of dollars in royalties.

Newcrest Mining’s Telfer operation has been afflicted by a wave of job cuts, as continued downward pressure on the gold price puts an end to industry’s short-lived recovery.

Iron Ore Holdings managing director Alwyn Vorster says the company remains confident of bringing in a partner for its Buckland iron ore project in the West Pilbara.

Another of WA’s biggest dairies has joined the flood of farms up for sale as the supermarket price squeeze continues to take a heavy toll on the industry.

Ex-Woodside boss Don Voelte says he has a policy of not poaching staff from other companies, despite tapping a former colleague to fill the key Australian leadership role at WesTrac.

The new director of the Federal Government’s building industry watchdog claims there is a bigger need for reform now than when the agency was created in 2003.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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