26/04/2018 - 06:16

Morning Headlines

26/04/2018 - 06:16

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GST-linked spending blitz to shore up seats

Morning Headlines

GST-linked spending blitz to shore up seats

Prime Minister Malcolm Turnbull will today announce a $189 million funding boost for WA hospitals to compensate for the State’s languishing GST share as he launches a pre-Budget spending blitz aimed at shoring up support among WA voters. The West

Medicare levy rise ditched on healthier budget

Treasurer Scott Morrison has dumped the government’s planned Medicare levy hike saying the budget has improved enough to guarantee funding from other sources for the National Disability Insurance Scheme. The Fin

Chevron cuts gas to Burrup plant

A new $US1 billion ($1.3bn)-plus petrochemical plant proposed for development on Western Australia’s Burrup Peninsula is facing a major hurdle after oil and gas giant Chevron told the proponents it may not be able to supply gas to the project. The Aus

$4.3b factory deal boosts jobs

A $4.3 billion fertiliser plant is set to be built on the Burrup Peninsula after Woodside Petroleum said yesterday that it wanted to supply the gas needed to create a giant urea factory. The West

Income tax cuts loaded for 10 years

The income tax cuts to be unveiled in the May federal budget are set to start small and be phased in over a decade so as not to obstruct the return to surplus. The Fin

Exploration drilling blossoms

A buoyant market for Australia’s junior miners has resulted in the highest quarterly spend on exploration drilling in several years, as the sector’s revival continues apace. The Fin

Tax-wavering duo ‘want a trade’

Derryn Hinch has effectively ruled himself out of further negotiations on the government’s company tax cuts, and accused Centre Alliance senators Rex Patrick and Sterling Griff of “trying to grab something for South Australia” by reconsidering their opposition to the bill. The Aus

Rio, Freeport ordered to cut river dumping in Indonesia

The mine waste disposal method that prompted Norway’s sovereign wealth fund to blacklist Rio Tinto is back in the spotlight, with the Indonesian government pressuring Rio and its partner Freeport McMoran to reduce the mine ‘‘tailings’’ they tip into rivers around their Grasberg copper mine. The Fin

Power line east ‘viable soon’

One of the world’s biggest power engineering companies says advances in technology mean a cross-continental transmission line between WA and the Eastern States will soon be viable. The West

Workforce inequality costing Australia $288b a year

Putting as many women in the workforce as the Philippines and other related measures would expand the Australian economy by 12 per cent, according to research by McKinsey designed to highlight the economic benefits of sexual equality in the workplace. The Fin

 

 

The Australian Financial Review

Page 1: The income tax cuts to be unveiled in the May federal budget are set to start small and be phased in over a decade so as not to obstruct the return to surplus.

A consortium spearheaded by private equity firm BGH Capital is believed to be preparing a $6 billion bid for Australia’s second-biggest private hospital operator, Healthscope.

Page 3: Putting as many women in the workforce as the Philippines and other related measures would expand the Australian economy by 12 per cent, according to research by McKinsey designed to highlight the economic benefits of sexual equality in the workplace.

Page 4: Treasurer Scott Morrison has dumped the government’s planned Medicare levy hike saying the budget has improved enough to guarantee funding from other sources for the National Disability Insurance Scheme.

Crossbencher Rex Patrick will push the federal government on tougher whistle-blower protections after the revelations from the banking royal commission, but says the controversy shouldn’t be conflated with company tax cut negotiations.

Page 5: An influential coalition of exporters and regional employers will launch a ‘‘scalable’’ campaign to defend the off-road diesel tax rebate amid renewed fears politicians may be tempted into scrapping the scheme.

Page 6: Influential proxy adviser CGI Glass Lewis has reversed a decision to spare the embattled AMP board at the firm’s shareholder meeting on May 10, and has sided with major super funds preparing to vote against the directors.

Page 7: The Trump administration has invited the Turnbull government to put forward candidates who could become ambassador to Australia after the White House’s shock withdrawal of its choice of Admiral Harry Harris, amid criticism the decision amounts to a diplomatic slight.

Page 8: Airport services giant Aerocare is pushing a contentious new agreement to a vote of its workforce, defying union opposition claiming the deal pays $8.50 an hour less than the industry minimum.

Page 13: Bunnings Australia and New Zealand will account for about 55 per cent of Wesfarmers’ earnings and 65 per cent of its value after Coles is spun off as a separately listed company in 2019 – assuming Wesfarmers does not make a major acquisition in the near term.

Page 15: The mine waste disposal method that prompted Norway’s sovereign wealth fund to blacklist Rio Tinto is back in the spotlight, with the Indonesian government pressuring Rio and its partner Freeport McMoran to reduce the mine ‘‘tailings’’ they tip into rivers around their Grasberg copper mine.

Page 23: Acquisitive gold miner St Barbara wants to add an operating gold mine to its portfolio ‘‘sooner rather than later’’, and has joined the throng of Australian gold miners looking to buy foreign assets while valuations remain strong across the local sector.

Page 27: A buoyant market for Australia’s junior miners has resulted in the highest quarterly spend on exploration drilling in several years, as the sector’s revival continues apace.

Page 35: A bigger than expected bump up in room supply, due in part to new apartment developments being converted into hotels at the last minute, has contributed to a weakened outlook for the accommodation sector, according to a new report.

 

 

The Australian

Page 1: Australia was one of the nations targeted in a suspected global data-theft operation by North Korea’s specialist cyber hacking unit last month, according to a new cyber-security analysis.

Page 3: Air travellers are paying for rising profits on core airport activities through ticket prices, the competition tsar has declared.

Page 4: Derryn Hinch has effectively ruled himself out of further negotiations on the government’s company tax cuts, and accused Centre Alliance senators Rex Patrick and Sterling Griff of “trying to grab something for South Australia” by reconsidering their opposition to the bill.

Page 5: The establishment of more industry on the Burrup peninsula could put an end to Australia’s chances of gaining a World Heritage listing for the world’s largest rock-art precinct that lies within kilometres of existing industrial plants.

Page 15: A new $US1 billion ($1.3bn)-plus petrochemical plant proposed for development on Western Australia’s Burrup Peninsula is facing a major hurdle after oil and gas giant Chevron told the proponents it may not be able to supply gas to the project.

Some of AMP’s biggest corporate customers are pressuring the scandal-hit wealth management company to come clean about any unscrupulous practices within its $28 billion corporate superannuation business.

Page 17: Atlas Iron has defended its decision to launch an unmarketable parcel share sale in the middle of its takeover offer from Mineral Resources, with the company forecasting savings of “several hundred thousand dollars” in administrative costs as a result of the process.

Page 18: The private health insurance industry is facing further headwinds with comparison website iSelect’s shock profit warning this week signalling more pain for the struggling sector.

Page 20: Superannuation fund-backed manager ISPT will begin investing offshore after forming a joint venture with infrastructure giant IFM Investors that will also open a platform for global property investment for Australia’s $590 billion super sector.

Page 21: A month away from the Westfield shareholder vote on a takeover bid from European mall giant Unibail-Rodamco, fund managers expect the deal to win approval in its current form or with minor tweaks, despite a fall in its value.

 

 

The West Australian

Page 1: Prime Minister Malcolm Turnbull will today announce a $189 million funding boost for WA hospitals to compensate for the State’s languishing GST share as he launches a pre-Budget spending blitz aimed at shoring up support among WA voters.

Page 5: A $4.3 billion fertiliser plant is set to be built on the Burrup Peninsula after Woodside Petroleum said yesterday that it wanted to supply the gas needed to create a giant urea factory.

Page 13: The author of a report calling for US nuclear attack submarines to be based in WA has urged the State and Federal governments to step up efforts to strike a deal over plans to build a second shipping channel into the navy base at Rockingham.

Page 17: The Australian Competition and Consumer Commission airport monitoring report, released today, puts Perth Airport in top spot for overall service quality — the first time the airport has been rated Australia’s best.

Business: One of the world’s biggest power engineering companies says advances in technology mean a cross-continental transmission line between WA and the Eastern States will soon be viable.

Bypassing the traditional route of an initial public offering and sharemarket listing, Greenfields Exploration is looking to raise $5 million through crowdfunding.

Takeda Pharmaceutical has reached a preliminary agreement to buy Shire with a sweetened takeover offer of about £46 billion ($85 billion) as the Japanese drugmaker closes in on a takeover that would vault it into the ranks of the world’s top pharma companies.

HelloFresh Australia is eyeing continued expansion with management hungry to take a bigger slice out of the $102 billion food and 

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