13/07/2018 - 06:44

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13/07/2018 - 06:44

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Rio in for the long haul to rehabilitate Argyle

Rio in for the long haul to rehabilitate Argyle

Rio Tinto will spend hundreds of millions of dollars over decades rehabilitating Argyle diamond mine in the Kimberley after its expected closure in 2020. The West

Tough vetting cuts migrants

The annual permanent migration intake has fallen by more than 10 per cent to less than 163,000, marking the lowest level for more than a decade on the back of a crackdown on fraudulent claims and a sharp rise in visa refusals under the government’s new integrity measures. The Aus

Economist Gaetjens to be Fraser’s successor

Philip Gaetjens, a long-serving adviser to federal and state Liberal governments, will become the nation’s next Treasury secretary after John Fraser stepped down saying he’d only ever intended to do two to three years in the post. The Fin

Super funds ‘skimming over $700bn in fees’

For two decades the superannuation industry has extracted more than $700 billion in fees above what typical super funds charge overseas, equivalent to almost 40 per cent of the nation’s annual GDP, according to new analysis. The Aus

Atlas burns cash as billionaires brawl

The junior iron ore miner suffered an operating loss of $6 million in the June quarter and cash at hand dwindled to $57 million, down from $64 million, plus $14 million in a reserve account, at the end of March. The Fin

WA Government calls for tax on sugary drinks

The State Government wants Canberra to impose a tax on sugary drinks, arguing it is desperately needed to fight Australia’s obesity crisis.  The West

Grasberg a ‘done deal’ for Rio and Indonesia

Rio Tinto’s long-awaited exit from Indonesia’s Grasberg copper mine is all but secured, under a deal that may add billions of dollars into dividend deliberations when the company’s board of directors meets this month. The Fin

$300m owing in GST refunds

The Tax Office may owe businesses up to $300 million in interest on overpaid GST after it lost a Federal Court case, which advisers said was one of the most significant in 20 years. The Fin

 

The Australian Financial Review

Page 1: Coal power generators have backed a plan to have taxpayers help underwrite investment in new coal-fired power stations, as the Prime Minister Malcolm Turnbull resisted backbench pressure to include the proposed scheme in the national energy guarantee.

Page 3: Philip Gaetjens, a long-serving adviser to federal and state Liberal governments, will become the nation’s next Treasury secretary after John Fraser stepped down saying he’d only ever intended to do two to three years in the post.

Chinese phone company Huawei has been linked to a major data breach in Africa, casting doubt on the company’s claim there is no evidence to back up national security concerns that could see it banned from the rollout of 5G networks in Australia.

Page 10: The Australian Taxation Office is preparing to weaponise new government funding to recover $1 billion from taxpayers and tax agents who are deliberately and aggressively contributing to the Australia’s tax gap.

The Tax Office may owe businesses up to $300 million in interest on overpaid GST after it lost a Federal Court case, which advisers said was one of the most significant in 20 years.

Page 15: Rio Tinto’s long-awaited exit from Indonesia’s Grasberg copper mine is all but secured, under a deal that may add billions of dollars into dividend deliberations when the company’s board of directors meets this month.                                                                               

Viva Energy chief executive Scott Wyatt has declared the fuels supplier will be on the lookout for more acquisitions as it embarks on life as a $4.9 billion publicly traded company.

Page 17: The junior iron ore miner suffered an operating loss of $6 million in the June quarter and cash at hand dwindled to $57 million, down from $64 million, plus $14 million in a reserve account, at the end of March.                                                                                                              

In his final communication to investors as chief executive of The a2 Milk Company, Geoffrey Babidge says he was expecting further revenue growth this year after posting a 68 per cent jump in sales in 2018.                                                                                                                             

Page 19: Mortgage Choice chief Susan Mitchell believes scrapping mortgage broker commissions won’t be the industry’s panacea, as safeguards already exist and brokers have already moved to address issues raised by the corporate regulator.                                              

Page 29: Sino Gas & Energy, the subject of a board-endorsed $530 million takeover bid from Lone Star, downgraded its gas reserves by 56 per cent to 256 billion cubic feet as a result of a cut in its stake in a Chinese venture and a reduction in expected production volumes at wells.                                                                                                                                                        

Gold miner Resolute Mines delivered full year gold production of 284,127 ounces, exceeding guidance of 280,000 ounces.

 

                                                                                                                                                                                                    

The Australian                                                                                                                          

Page 1: The annual permanent migration intake has fallen by more than 10 per cent to less than 163,000, marking the lowest level for more than a decade on the back of a crackdown on fraudulent claims and a sharp rise in visa refusals under the government’s new integrity measures.                                                                                                                                              

For two decades the superannuation industry has extracted more than $700 billion in fees above what typical super funds charge overseas, equivalent to almost 40 per cent of the nation’s annual GDP, according to new analysis.                                                                                                                  

Page 3: Barnaby Joyce’s travel to Canberra in non-sitting weeks increased “substantially” last year during the time he was having an affair with his one-time staffer, but an independent parliamentary audit has cleared both of them and even found the taxpayer owed Vikki Campion hundreds of dollars.                                                                                     

Page 17: AMP has become the latest lender to hike interest rates for home loan customers, saying it can no longer absorb soaring funding costs that show no sign of easing.                                       

Page 20: The banking regulator’s stress test of the Australian financial system has come under fire after financial economists criticised the regulator for its lack of detail and its overly optimistic assessment of the health of the $1.7 trillion mortgage market.

 

 

The West Australian

Page 1: The State Government wants Canberra to impose a tax on sugary drinks, arguing it is desperately needed to fight Australia’s obesity crisis.

Page 3: The WA property market is tipped to be one of the strongest in the country over the next two years but it could be at risk of higher interest rates and tighter lending standards.

Page 7: The Federal Agriculture Department unlawfully issued a live animal export permit to Emanuel Exports only weeks before cancelling the company’s export licence, court documents show.

Business: Rio Tinto will spend hundreds of millions of dollars over decades rehabilitating Argyle diamond mine in the Kimberley after its expected closure in 2020.

Funds from a State Government-controlled kitty to rehabilitate WA’s abandoned mines should be used to create long-term Aboriginal ranger jobs across the State, a Nationals politician says.

Hundreds of homeowners stranded by the collapse of WA whitegoods retailer Kambo’s are finally able to claim their goods.

Fragrance Group yesterday won unanimous development approval for its $180 million office and residential development on the corner of Milligan and Murray streets.

Cedar Woods has pulled off a hat-trick, pre-selling its third commercial office building at its Victorian Williams Landing project for $25.9 million.

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