12/07/2018 - 06:34

Morning Headlines

12/07/2018 - 06:34

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Tax over-claimers gouge $8.7bn

Morning Headlines

Tax over-claimers gouge $8.7bn

Individual Australians who overclaimed on their tax returns cost the federal budget almost $9 billion in the 2014-15 financial year alone, new analysis by the tax office has found.The Aus

National vacancy rate tumbles

The figures for the second quarter of 2018, compiled by JLL, show the national vacancy rate has dropped by 1.5 percentage points over the course of the 2017/18 financial year. The Fin

New U.S tariffs against China rattle markets

Escalating US-China trade tensions triggered a sell-off on Asian stockmarkets on Wednesday after Donald Trump pushed ahead with threats to impose tariffs on an additional $US200 billion ($270 billion) worth of Chinese products. The Fin

Frustration as live exports in limbo

The fate of WA’s live sheep export industry remains in limbo — and 60,000 sheep still sit in a Baldivis pen — as the Federal Agriculture Department considers issuing export permits and animal welfare groups confirm legal action is pending. The West

AGL, Origin lose $1.7b

AGL Energy and Origin Energy have had nearly $1.7 billion wiped off their combined market values as investors worry over the impact of the tough package of rules proposed by the competition watchdog. The Fin

Viva set for $4.8b ASX debut

Viva Energy will start life on the stockmarket as a $4.86 billion company with owner Vitol retaining a 45 per cent stake in the fuel retailer. The West

BHP’s shale sale to reap dividends

BHP chairman Ken MacKenzie says the mining giant’s planned sale of its shale assets in the US has received a boost from rising oil prices and Donald Trump’s tax cuts, with the “sizeable” proceeds looking increasingly likely to find their way back to BHP shareholders.The Aus

 

 

The Australian Financial Review

Page 1: Prime Minister Malcolm Turnbull has left the door open to taxpayers supporting the construction of new coal-fired power generation, settling a fractious backbench but potentially jeopardising bipartisan support from the states for the National Energy Guarantee.

Treasury secretary John Fraser has lashed out at the United States and China over the worsening trade war, warning Washington will ‘‘pay a price’’ for adopting protectionist policies that hurt workers.

Page 3: ABC chairman Justin Milne says the public broadcaster’s investment in digital is a ‘‘matter of urgency’’, warning that it won’t be long before most Australians stop using television and radio.                                                                                                                                                    

Page 4: AGL Energy and Origin Energy have had nearly $1.7 billion wiped off their combined market values as investors worry over the impact of the tough package of rules proposed by the competition watchdog.                                                                                                  

Page 6: Westpac Group, the nation’s second largest lender, is attempting to harvest the best new investor and owner-occupier fixed rate borrowers by offering discounts of up to 50 basis points and free international trips.                                                                                         

Page 11: Escalating US-China trade tensions triggered a sell-off on Asian stockmarkets on Wednesday after Donald Trump pushed ahead with threats to impose tariffs on an additional $US200 billion ($270 billion) worth of Chinese products.                                             

Page 15: Sonic Healthcare invited US medical regulators to inspect its main laboratory in Austin, Texas, as it sought to limit any reputational damage linked to its role in a cervical cancer screening scandal in Ireland.                                                                                                   

Page 17: French miner Eramet has captured Mineral Deposits Limited (MDL), with its $344 million bid winning support from the board of the takeover target just hours before Eramet’s ownership exceeded 50 per cent.                                                                                        

Page 18: K2fly has been awarded a contract extension for the use of its Infoscope land management technology by Fortescue Metals Group.                                                              

Page 19: One of the most prized assets in the $8 billion spin-off of Commonwealth Bank’s wealth operations, investment platform Colonial First State, could have its growth rates challenged as fund manager customers increasingly elect for start-up operators with lower fees and better technology.                                                                                                              

Page 31: Confidence in house price growth and the availability of finance has plummeted with a tripling of the number of surveyed property professionals lowering their expectations.                                                                                                                                       

Page 32: The figures for the second quarter of 2018, compiled by JLL, show the national vacancy rate has dropped by 1.5 percentage points over the course of the 2017/18 financial year.                            

 

                                                                                                                                                                                                                                                                                                          

The Australian                                                                                                                          

Page 2: Individual Australians who overclaimed on their tax returns cost the federal budget almost $9 billion in the 2014-15 financial year alone, new analysis by the tax office has found.                                                                                                                                                       

Page 5: Britain’s privacy watchdog has branded Facebook a “bad actor” and hit it with the maximum fine available over a data breach that exposed the personal information of 87 million people across the world.                                                                                                       

Page 6: The chief executive and chairman of listed financial services giant IOOF, which is accused of trying to gouge hundreds of thousands of members in its superannuation fund, are also in charge of the entity whose role is to protect the interests of those members.  

Page 19: BHP chairman Ken MacKenzie says the mining giant’s planned sale of its shale assets in the US has received a boost from rising oil prices and Donald Trump’s tax cuts, with the “sizeable” proceeds looking increasingly likely to find their way back to BHP shareholders.                                                               

Page 20: Rupert Murdoch’s 21st Century Fox has significantly increased its bid to consolidate ownership of pan-European pay-TV broadcaster Sky, turning up the heat in a bidding war against US cable company Comcast.                                                                          

Page 25: The listed Rural Funds Group is raising $150 million in fresh equity to help expand its cattle property empire in the sector’s first raising this year.

 

 

The West Australian

Page 8: The fate of WA’s live sheep export industry remains in limbo — and 60,000 sheep still sit in a Baldivis pen — as the Federal Agriculture Department considers issuing export permits and animal welfare groups confirm legal action is pending.

Page 14: Two senior McGowan Government ministers have denied any conflict of interests over a decision to award Huawei a $136 million train signalling contract, after it emerged the Chinese telecommunications giant funded flights and accommodation for the pair when in opposition.

Business: Dacian yesterday announced plans to raise as much as $45 million to ramp up exploration beneath its existing Westralia mine and aggressively drill out its neighbouring Cameron Well prospect.

Australis Oil & Gas is nearing the sharp end of its founders’ pursuit of another big payday.

Viva Energy will start life on the stockmarket as a $4.86 billion company with owner Vitol retaining a 45 per cent stake in the fuel retailer.

Saracen Mineral Holdings boss Raleigh Finlayson believes Australia’s mid-tier gold miners could start looking overseas for growth as valuations of the nation’s top gold companies begin to outpace their North American rivals.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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