Morning Headlines

Wednesday, 5 September, 2018 - 06:39

PM’s $3.6b corporate tax cuts

The government’s pre-election plan to fast track company tax cuts for small and medium business would cost up to $3.6 billion and be complete by as early as 2021-22, five years sooner than scheduled, according to costings prepared by federal Treasury. The Fin

Perth CBD sales stay steady after uptick

Perth CBD sales have regained some momentum with historic sales results compiled by Perth Cityscope for the three months to March 4, showing a fourfold surge in value from the quarter before and dipping only slightly in the quarter to June 4. The West

$60m for WA aged hub

Aged-care provider Hall & Prior has revealed it will spend $60 million transforming the one-time Woodside maternity hospital in East Fremantle into a “magnificent” world-class health and aged-care precinct. The West

Shorten: Extend bank probe

Opposition Leader Bill Shorten has threatened to re-start the banking royal commission under a future Labor government if Prime Minister Scott Morrison does not extend its work into next year. The West

Argentina tax to lift lithium miners

Australian lithium producers could receive a boost over some South American rivals, after the Argentinian government flagged plans to impose a new tax on exports. The Fin

IFM says too much super fee gouging

The head of $112 billion fund manager IFM Investors says the sector cannot justify ‘‘super profits’’ after it said it would return ‘‘tens of millions of dollars’’ of fees to clients. The Fin

WA syndicator APIL won Flinders

WA property syndicator and manager Australasian Property Investments Ltd has emerged as the $39.5 million buyer of Flinders Square Shopping Centre in Yokine. The West

Pathology centres face audits over rents

The operators of 410 pathology collection centres and their landlords have come under commonwealth scrutiny amid concerns that hidden financial arrangements might be leading to overservicing. The Aus

 

 

The Australian Financial Review

Page 1: The government’s pre-election plan to fast track company tax cuts for small and medium business would cost up to $3.6 billion and be complete by as early as 2021-22, five years sooner than scheduled, according to costings prepared by federal Treasury.

Page 3: The head of $112 billion fund manager IFM Investors says the sector cannot justify ‘‘super profits’’ after it said it would return ‘‘tens of millions of dollars’’ of fees to clients.

Page 4: Perth house prices have been stagnant or falling for the past three years and Mr Chaney said this had a marked impact on Wesfarmers’ retail sales in the state.

Lenders are increasing home loan assessment rates, boosting borrower buffers, scrapping sub-prime loans and overhauling the way they assess loan applicants’ income in response to renewed regulatory pressure on loan standards.

Page 5: Multimillion-dollar property values in the nation’s glitziest postcodes are falling twice as fast as low-end housing, analysis by investment bank Morgan Stanley shows.

Page 10: Australia’s current account deficit increased to $13.5 billion over the June quarter, official data showed, as trade made another positive, if smaller, contribution to economic growth.

Page 15: National Australia Bank is ploughing another $50 million into venture capital to take its total commitment to start-up investment to $100 million, allowing it to keep watch on disruptive forces and use more fintech capability to improve customer service.

Woolworths is banking on a ‘‘quantum leap’’ in productivity after investing $562 million in a new automated distribution centre, the largest and most technologically advanced in the southern hemisphere.

Page 16: One of the country’s biggest renewable energy project developers, Chinese-owned Goldwind Australia, is seeking to offload a big parcel of wind and solar energy projects located across three Australian states.

Page 17: The Andrew Forrest-backed Australian Industrial Energy venture has declared that its LNG import project planned for Port Kembla is still aiming for a final go-ahead decision at the end of the year despite the heightened uncertainty over the outlook for east coast gas prices as a result of federal Labor’s proposed gas measures.

Page 22: Australian lithium producers could receive a boost over some South American rivals, after the Argentinian government flagged plans to impose a new tax on exports.

Goldfields Money has raised $20 million through a placement of shares sold at $1.30 each.

Page 32: The independent board of the listed Investa Office Fund faces a crucial decision on whether it will engage with a last-minute takeover proposal from Canada’s Oxford Properties Group or go ahead with a shareholder vote this week on a $3.2 billion bid from US giant Blackstone.

 

 

The Australian                                                                                                                          

Page 1: Electricity bills will soar and gas and coal-fired power stations will close if the share of wind and solar generation increases dramatically, engineers have warned after analysing the nation’s energy supply.

Sir Peter Cosgrove says he intends to retire as Governor-General when his term reaches five years in March, meaning his successor will likely be appointed by the government, despite calls from Bill Shorten to extend his tenure.

The operators of 410 pathology collection centres and their landlords have come under commonwealth scrutiny amid concerns that hidden financial arrangements might be leading to overservicing.

Page 2: The Reserve Bank governor has played down the burst of “small” interest rate increases by major lenders, urging households to shop around for a better deal.

Page 4: Treasury secretary Philip Gaetjens has taken aim at the “populist political response” on the issue of inequality, citing data that shows gains from income growth have been shared evenly over the past 20 years.

Page 19: The Australian dollar last night tumbled to its lowest point in more than two years as sustained falls in emerging markets spilt over to commodity prices, with base metals tanking.

Page 20: Santos has been approached by Japanese trading houses to bed down farm-out agreements for the West Australian assets it will own once the Quadrant takeover is complete.

Page 21: Mark Bouris has told Yellow Brick Road shareholders to reject the “grossly inadequate” takeover bid from Mercantile Investment Company, which last month launched a low-ball $25 million off-market takeover for the struggling mortgage broker and financial advice shop.

Page 22: Australian Securities Exchange Ltd has pushed back the start date for the blockchain-based replacement of its clearing and settlement system by six months following industry concerns that its timeline for implementation was too ambitious.

 

 

The West Australian

Page 1: Grant Alexander, described as The Fixer at the centre of a corruption racket at the Health Department, has indicated he would return to WA if required as the fallout from the scandal widens.

Page 14: The Federal Government will revive plans to make it easier to deregister unions and disqualify law-breaking officials.

Business: Opposition Leader Bill Shorten has threatened to re-start the banking royal commission under a future Labor government if Prime Minister Scott Morrison does not extend its work into next year.

Tina Bazzo’s legal team said yesterday she had the right to be protected against selfincrimination amid a serious criminal investigation by Federal authorities.

Liontown Resources boss David Richards says early stage interest in the company’s Kathleen Valley lithium project, 60km north of Leinster, provides confidence, despite recent mixed commentary about the battery mineral.

A “lasting solution” to WA’s GST allocation is possible, according to secretary to the Treasury Philip Gaetjens.

POZ Minerals will bid for the mothballed Ellendale diamond mine in the Kimberley, which it has said could potentially transform the company.

Property: Aged-care provider Hall & Prior has revealed it will spend $60 million transforming the one-time Woodside maternity hospital in East Fremantle into a “magnificent” world-class health and aged-care precinct.

Sirona Capital is seeking expressions of interest for its Woolworths-anchored shopping centre in the tourist town of Margaret River.

WA property syndicator and manager Australasian Property Investments Ltd has emerged as the $39.5 million buyer of Flinders Square Shopping Centre in Yokine.

Perth CBD sales have regained some momentum with historic sales results compiled by Perth Cityscope for the three months to March 4, showing a fourfold surge in value from the quarter before and dipping only slightly in the quarter to June 4.