01/06/2018 - 06:16

Morning Headlines

01/06/2018 - 06:16

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Amazon geoblocks Australia

Morning Headlines

Amazon geoblocks Australia

Australian consumers have hit out at Amazon’s decision to stop online shoppers from importing products from its overseas e-commerce sites when the new goods and services tax regime comes into effect in July. The Fin

New probe hits sheep exporter

The nation’s biggest exporter of sheep faces a criminal investigation after the Federal Department of Agriculture revealed it had opened a fresh probe into Perth-based exporter Emanuel Exports over a disastrous series of voyages to the Middle East. The West

Report cites Quintis breaches

Quintis’ administrators have flagged a number of potential offences by the company’s current and past directors, including possible insider trading by founder and former chief executive Frank Wilson. The Fin

Shake-up advised for class action legal fees

The ban on contingency fees for class action lawyers should be lifted, the federal law reform commission says, in a major shake-up likely to be a big win for plaintiff class action firms. The Fin

Doric to complete troubled project

The owner of the unfinished hotel, cinema and office complex at 500 Hay Street, Subiaco that helped push builder Cooper & Oxley into administration, has struck a deal with Doric Group to finish it. The West

Key senators link company tax cuts to hit on tech giants

Centre Alliance, which holds two Senate seats, yesterday reaffirmed it was willing to further appraise the company tax package, with senator Stirling Griff saying the party was prepared to “look at it and consider it”. The Aus

Beef, wine exports hit in China tension

Several Australian wine companies in addition to Treasury Wine Estates have been hit with import delays into China while progress on expanding beef exports has been slower than expected, senior diplomats have revealed as they acknowledged ‘‘stresses and strains’’ in the relationship with Beijing. The Fin

Oil price rise to push up airline fares

The International Air Transport Association has warned that airfares will probably rise as the price of fuel climbs towards $US80 a barrel. The West

Floating wharf proposal for Broome

A developer is proposing to build a $100 million floating wharf at the Port of Broome for oil and gas vessels and cruise ships. The West

 

 

The Australian Financial Review

Page 1: Australian consumers have hit out at Amazon’s decision to stop online shoppers from importing products from its overseas e-commerce sites when the new goods and services tax regime comes into effect in July.

Page 3: ZTE, the Chinese telecommunications company bidding for major contracts in Australia and at the centre of Donald Trump’s trade war with Beijing, was established partly as a front for military intelligence and has been linked to corruption in 18 countries, according to court documents filed in the US.

Page 4: One Nation leader Pauline Hanson has hardened her resolve to scuttle the government’s company tax cuts after one of her Senators broke ranks and pledged to honour the deal the party struck with Finance Minister Mathias Cormann.

The Coalition won’t strip organisations that refuse to join the redress scheme for sex abuse survivors of their tax-free status, appealing instead to moral responsibility for comprehensive compensation around Australia.

Page 5: The Australian Council of Trade Unions and Labor are set for a clash over whether superannuation decisions should be stripped from Fair Work Australia, as recommended by the Productivity Commission.

Page 6: Several Australian wine companies in addition to Treasury Wine Estates have been hit with import delays into China while progress on expanding beef exports has been slower than expected, senior diplomats have revealed as they acknowledged ‘‘stresses and strains’’ in the relationship with Beijing.

Page 8: A rebound in investment spending last year looks to have lost some momentum in the first three months of the year, with companies disappointing expectations by signalling only a modest lift in their plans for the coming financial year.

Page 9: Big energy retailers oppose a new proposal by the Australian Energy Market Commission to allow third parties to aggregate ‘‘demand response’’ and bid it into the National Electricity Market.

Page 11: The ban on contingency fees for class action lawyers should be lifted, the federal law reform commission says, in a major shake-up likely to be a big win for plaintiff class action firms.

Page 15: Non-bank lending group Latitude Financial has picked up a marquee financing partnership with JB Hi-Fi as it continues to plot a $5 billion sharemarket listing this year.

Page 17: Santos and partners have pledged to invest north of $400 million in a new gas project in Queensland’s Bowen Basin to provide gas for their export plant in Gladstone and rein in east coast price

Page 19: Industry fund First State Super’s financial planning business has now refunded

almost $20 million to more than 6600 customers after they were charged a fee for an annual review but did not receive the service.

Page 34: Faster-than-expected population growth and an improving economy have triggered the country’s largest housing industry group to upgrade its forecasts for new dwelling construction for over next five years.

 

 

The Australian

Page 1: John Howard has urged the Turnbull government to repair the Australia-China relationship with face-to-face meetings and by building personal relationships between the national leaders.

The surging cost of class action payouts by Australian companies has prompted at least one major insurer to stop providing coverage for company directors, while others have increased their premiums by 200 per cent.

Page 4: Centre Alliance, which holds two Senate seats, yesterday reaffirmed it was willing to further appraise the company tax package, with senator Stirling Griff saying the party was prepared to “look at it and consider it”.

Page 6: Banks have taken another pummelling at the financial services royal commission, with Suncorp admitting it did not know if its contracts were unfair and the spectacular collapse of an audacious bid by NAB to discredit evidence given by a customer.

Page 7: Businesses would be hit with an annual $2 billion compliance bill to implement a proposed carbon emissions target for cars that is under consideration by the Turnbull government.

Page 8: Eighty per cent of child abuse survivors are covered by the national redress scheme after the Anglicans, Salvos, Scouts and YMCA followed the Catholic Church in signing up, while Western Australia and the Uniting Church are poised to join.

With hours to spare until nominations closed, Premier Mark McGowan announced yesterday that Woodside Petroleum executive and former WA government bureaucrat Tania Lawrence would be its candidate at the June 23 by-election.

The Turnbull government has delayed introducing legislation to reform the live-sheep export industry, hoping to avoid the embarrassment of having Liberal MP Sussan Ley cross the floor over the issue.

Page 19: The financial regulator has warned that emerging challenges could affect the sustainability of the health insurance industry, and signalled that stress-testing practices in the sector fall “well short” of other industries.

A high-powered advisory group to the Turnbull government is advancing plans to ensure there are enough pilots and aviation engineers “to keep Australians flying”.

Page 21: BHP’s claims that its dual-listed Australian and London companies are not associates “make a mockery” of the law, an Australian Taxation Office lawyer has told a Melbourne court, as the tax office seeks to overturn an $87 million tribunal ruling in BHP’s favour over its controversial Singapore trading office.

                                                     

 

The West Australian

Page 1: The nation’s biggest exporter of sheep faces a criminal investigation after the Federal Department of Agriculture revealed it had opened a fresh probe into Perth-based exporter Emanuel Exports over a disastrous series of voyages to the Middle East.

Page 3: The City of Perth’s performance and culture will go under the microscope, with plans for a warts-and-all examination.

Page 10: WA Labor senator Louise Pratt has welcomed Joe Bullock’s post-parliamentary defection to the Liberal Party, saying her former running mate has ended up “where he truly belongs”.

Page 13: WA Police will audit records of about 2.1 million roadside alcohol tests after revelations that officers in Victoria faked more than 250,000 breath tests over five years.

Page 16: The Federal Government is urging aged-care providers to move into “dying” WA towns, announcing a record number of new residential beds to address shortfalls across the State.

Page 20: The International Air Transport Association has warned that airfares will probably rise as the price of fuel climbs towards $US80 a barrel.

Business: Quintis’ administrators have flagged a number of potential offences by the company’s current and past directors, including possible insider trading by founder and former chief executive Frank Wilson.

A developer is proposing to build a $100 million floating wharf at the Port of Broome for oil and gas vessels and cruise ships.

Inpex is expecting to ship its first cargo from the Ichthys LNG project off the Kimberley by the end of September — six months behind a previous target.

The owner of the unfinished hotel, cinema and office complex at 500 Hay Street, Subiaco that helped push builder Cooper & Oxley into administration, has struck a deal with Doric Group to finish it.

Aspiring potash producer Trigg Mining has had to postpone its initial public offering after failing to raise the minimum $4 million from investors.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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