18/06/2018 - 06:13

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18/06/2018 - 06:13

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Legal standoff leaves mining leases in limbo

Legal standoff leaves mining leases in limbo

The WA government promised nervous miners it would amend legislation to validate vulnerable leases, but based on legal advice is refusing to proceed until the federal government makes related changes to the Native Title Act. The Fin

Canberra talks on free trade deal with EU

As tit-for-tat tariff hikes between the US and China threaten to spiral out of control, Australia and the European Union will strike a blow for free trade, formally opening negotiations on a pact in Canberra on Monday. The Fin

New lease of life for offices in resources capital

In the latest play, WA-based Acure Asset Management is believed to be tapping local investors and a South Korean backer as it seeks to lock down the purchase of Perth’s Optima Centre for about $130 million. The Aus

Litigation funding licences ‘sensible’: Attorney-General

Attorney-General Christian Porter has backed moves to license litigation funders as part of an overhaul of Australia’s class actions regime. The Fin

$10bn hole in Shorten’s retiree plan

Bill Shorten is facing a $10 billion black hole in his key savings plans to axe franking credit refunds for retirees, with a Treasury study confirming Labor had failed to calculate the expected changes in investment strategies among people hit by the tax changes. The Aus

Tax justice tops wish list for WA voters

West Australians put reform of the GST ahead of almost every other political issue, a new survey of the country has revealed. The West

Bosses failing to pay super entitlements as hefty penalties loom

The number of bosses failing to pay employees superannuation has increased by more than 50 per cent over the past year — breaches that are soon to carry penalties of up to a year in jail for employers. The Aus

Red tape nobbles Gnaraloo

Agriculture Minister Alannah MacTiernan has vowed to ensure the State Government finally resolves an agreement it made with a pastoral leaseholder a decade ago, but has since failed to honour. The West

Trade war risk to China debt bomb

The threat of a US trade war and a batch of weak economic data have revived fears that cracks are appearing in President Xi Jinping’s mission to keep the world’s second largest economy on a stable footing, as state-owned enterprises and local governments battle to wean themselves off cheap debt. The Fin

AMP calls for help on finding shoddy advice

AMP could spend as much as $70 million to hire consultants to help find examples of shoddy advice so the under-siege company can compensate wronged customers. The Fin

 

 

The Australian Financial Review

Page 1: Controversial Chinese telco Huawei is hitting back aggressively over spy agencies’ efforts to veto it on national security grounds from involvement in the construction of the 5G wireless network, lobbying federal parliamentarians directly that its exclusion would push up costs for consumers, result in an inferior service and threaten the company’s future in Australia.

The threat of a US trade war and a batch of weak economic data have revived fears that cracks are appearing in President Xi Jinping’s mission to keep the world’s second largest economy on a stable footing, as state-owned enterprises and local governments battle to wean themselves off cheap debt.

One Nation has declared it is not going to be a ‘‘lapdog’’ for the Turnbull government, sending an ominous warning as senior ministers concentrate their lobbying on Pauline Hanson to back its income and company tax cut packages during a frantic final fortnight of Parliament before the winter break and super Saturday byelections.

Page 3: The operator of Darwin Port is struggling to pay down debt and is reliant on a letter of support from its Chinese owner, raising questions about its long-term financial viability and the price paid by Landbridge in the controversial 2015 deal.

Page 4: As tit-for-tat tariff hikes between the US and China threaten to spiral out of control, Australia and the European Union will strike a blow for free trade, formally opening negotiations on a pact in Canberra on Monday.

Page 6: The Turnbull government is losing a window of opportunity to hold its long-awaited inquiry into road user charging ahead of the next federal election to prepare for the influx of electric vehicles into Australia, which is expected to blow a hole in fuel excise revenue, according to industry groups.

Page 7: Attorney-General Christian Porter has backed moves to license litigation funders as part of an overhaul of Australia’s class actions regime.

Page 10: The WA government promised nervous miners it would amend legislation to validate vulnerable leases, but based on legal advice is refusing to proceed until the federal government makes related changes to the Native Title Act.

Page 15: AMP could spend as much as $70 million to hire consultants to help find examples of shoddy advice so the under-siege company can compensate wronged customers.

Page 17: The No.2 player in the after-school care market in Australia is eyeing another year of 20 per cent-plus revenue growth from its operations at 400 school sites, with private equity firm Quadrant having taken majority control of the business through a $100 million-plus buyout.

Page 19: The chief executive of the Association of Superannuation Funds of Australia, Martin Fahy, says an ‘‘orderly mechanism’’ must be created to weed out poor performing funds, instead of relying on a spate of mergers to siphon up retirement savers’ funds.

Page 22: A sensational performance by Australian bonds last week has widened the negative spread between US and Australian 10-year bond yields to close to the highest point this century, amplified by expectations that the Reserve Bank is on hold well into 2019.

Page 32: Farm manager Growth Farms is seeking to raise $100 million to buy rural properties across Australia and lease them back to farmers in a new investment structure that removes the volatility of drought and commodity price fluctuations.

 

 

The Australian

Page 1: Bill Shorten is facing a $10 billion black hole in his key savings plans to axe franking credit refunds for retirees, with a Treasury study confirming Labor had failed to calculate the expected changes in investment strategies among people hit by the tax changes.

Deep anger over farm evictions, unconscionable rural lending and the enormous stress placed on isolated families by heavy-handed banks is set to reignite next week when the financial services royal commission sits in Brisbane for a special hearing on farm financing.

Power companies and large industrial energy users were privately told during the deliberations of a secret government-appointed working group that the national energy guarantee was an emissions intensity trading scheme “by stealth” that would favour renewable energy sources.

Page 2: Opposition to the federal government’s proposed fee cap on low-balance super funds is being driven by some of the nation’s biggest banks, with the for-profit sector backing the proposed changes and pushing against potential loopholes.

Page 3: Optus has been forced to defend its purpose-built app after Australian World Cup viewers complained of another night of disruption during which they were unable to stream matches due to the service freezing.

Page 4: United Voice national secretary Jo Schofield says the “current broken system has both Labor and Liberal fingerprints on it” and both parties need to support industry bargaining as a just and reasonable solution to the wage crisis affecting workers.

Page 7: Germany is braced for a political earthquake tonight as a rift within its conservative alliance threatens to topple the government and bring an abrupt end to Angela Merkel’s 13 years as Chancellor.

Page 17: Oil giant ExxonMobil is considering a Victorian LNG import plant to replace rapidly declining Bass Strait gasfields, in a move that could draw in BHP to help build a floating terminal at less than half the cost of rival east coast gas import plans by AGL Energy and Andrew Forrest.

Origin Energy has taken the Australian Taxation Office to court over $331 million of disallowed deductions around its 2011 purchase of trading rights for the big Eraring coal-fired power station in the Hunter Valley.

The number of bosses failing to pay employees superannuation has increased by more than 50 per cent over the past year — breaches that are soon to carry penalties of up to a year in jail for employers.

Page 19: A lack of trust and an inability to scale makes cryptocurrencies a poor substitute for traditional money, says a new report from the Bank for International Settlements.

In the latest play, WA-based Acure Asset Management is believed to be tapping local investors and a South Korean backer as it seeks to lock down the purchase of Perth’s Optima Centre for about $130 million.

Page 20: Australian cruise passengers will benefit from the majority stake sale of luxury Italian line Silversea to American behemoth Royal Caribbean Cruises in a $US1 billion ($1.3bn) deal negotiated over the past 12 months.

The robust protectionist impulses of the Trump administration on display at the recent G7 summit in Quebec have prompted Canada to focus on enhancing trade links and co-operation with Australia.

 

 

The West Australian

Page 1: West Australians put reform of the GST ahead of almost every other political issue, a new survey of the country has revealed.

Page 4: Opposition Leader Mike Nahan is languishing behind Mark McGowan as preferred premier, with almost two-thirds of voters in Darling Range picking the Labor leader for the top job.

Page 5: It was reported yesterday the WA Sports Centre Trust, which operates the venue, had bought a domain name, racarena.com.au, fuelling speculation WA-based insurer RAC had won the naming rights for Perth Arena, worth as much as $10 million.

Page 6: Controversial businessman and former Federal MP Clive Palmer has attempted a revival of his political career, announcing the re-establishment of the United Australia Party.

Page 14: Parts of Perth’s south-eastern suburbs will soon be able to access the National Broadband Network as the company reveals a spike in the number of people wanting high-speed internet.

Business: Agriculture Minister Alannah MacTiernan has vowed to ensure the State Government finally resolves an agreement it made with a pastoral leaseholder a decade ago, but has since failed to honour.

Growing Asian demand for high-quality WA processed oats is underpinning a steep rise in production at Forrestfield-based Quaker Oats Australia.

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