PEXA sale windfall for WA
PEXA sale windfall for WA
The WA Government is poised to bank a $200 million-plus profit by selling into the $2 billion float of online settlements company Property Exchange Australia. The West
WA’s industrial sector starts to emerge from its slumber
WA’s industrial market reported 19 institutional-grade ($10 million-plus) industrial sales in the year to June 30 — the most for three years. The West
ATO in secret deals with tax dodgers
The Tax Office has 50 secret legal agreements in which firms and their advisers, mainly lawyers and accountants, promise to stop promoting tax avoidance schemes as the agency ramps up its policing of the Promoter Penalty law. The Fin
Labour firm faces $38m ‘casuals’ bill
Mining labour hire group One Key Resources owes more than $38 million to its casual workforce as a result of legal action by the Construction, Forestry, Maritime, Mining and Energy Union, a new report has revealed. The Fin
Labor risks $12bn housing hit
Labor’s $32 billion plan to end negative gearing for existing homes and slash the capital gains discount would lead to a fall in new housing construction of up to 42,000 dwellings over five years and 32,000 fewer jobs across the country, according to independent modelling of Bill Shorten’s key property policies.. The Aus
Coalition has cut $200m from ASIC
Almost $200 million has been cut from the Australian Securities and Investments Commission’s budget since the Coalition came to power in 2013, Parliamentary Library research has found, giving Labor fresh ammunition that the corporate regulator has been starved of resources to crack down on the bad behaviour exposed by the banking royal commission. The Fin
UDIA nabs Steinbeck
Tanya Steinbeck has been appointed chief executive of WA’s Urban Development Institute of Australia starting next month. The West
The Australian Financial Review
Page 1: Business, the states and the energy sector have reacted coolly to a raft of market intervention measures designed to force down electricity costs, which include setting a pre-election deadline of January 1 by which retailers must offer lower prices.
The Tax Office has 50 secret legal agreements in which firms and their advisers, mainly lawyers and accountants, promise to stop promoting tax avoidance schemes as the agency ramps up its policing of the Promoter Penalty law.
Page 3: Woolworths supermarkets staff have overwhelmingly approved the company’s new enterprise agreement, which restores full penalty rates for the first time in decades.
Page 4: Political uncertainty caused by the Wentworth byelection has contributed to a plunge in consumer confidence, in a warning sign that instability in Canberra could hurt the economy.
Page 5: Almost $200 million has been cut from the Australian Securities and Investments Commission’s budget since the Coalition came to power in 2013, Parliamentary Library research has found, giving Labor fresh ammunition that the corporate regulator has been starved of resources to crack down on the bad behaviour exposed by the banking royal commission.
Page 9: First State Super is a newcomer to the direct lending space but has written loans to six Australian companies since February.
Page 10: Mining labour hire group One Key Resources owes more than $38 million to its casual workforce as a result of legal action by the Construction, Forestry, Maritime, Mining and Energy Union, a new report has revealed.
Page 13: Japan has singled out the Pacific for its next infrastructure push, amid concern Chinese investment will result in Beijing becoming the dominant force in the region.
Page 15: Healthscope chairman Paula Dwyer must decide whether to bow to shareholder pressure and grant suitor BGH Capital due diligence or risk amplifying an embarrassing potential vote against her re-election at next week’s AGM.
Page 17: Oil Search’s third-quarter sales rocketed 81 per cent higher as its liquefied natural gas project in Papua New Guinea fully recovered after the earthquake earlier this year and gas prices jumped 18 per cent.
Page 18: Australia Post has caved into union pressure and dumped AMP as its default superannuation fund provider, as the fallout for the wealth giant from the banking royal commission continues.
Page 20: Nick Scali’s sales orders rose 12 per cent in the first quarter of 2019 and comparable sales orders rose 2 per cent after being flat in 2018.
The Australian
Page 1: Labor’s $32 billion plan to end negative gearing for existing homes and slash the capital gains discount would lead to a fall in new housing construction of up to 42,000 dwellings over five years and 32,000 fewer jobs across the country, according to independent modelling of Bill Shorten’s key property policies.
Page 4: The Coalition is moving on a major aged-care workforce report that could lift pay rates for nurses and personal-care workers, after the federal government was told these employees were underpaid by about 15 per cent.
Page 8: Indonesia has suspended the $100 million trade of rendered meat from Australia following an audit of two processing plants.
Page 21: Coronado Coal shares slumped on their ASX debut yesterday, with investors continuing to shun the US coking coal miner despite recent gains in coking coal prices, and pricing it at a discount to its coal mining peers.
The West Australian
Page 3: The banking regulator considered making investment lending more difficult “postcode-by-postcode” rather than across the board.
Page 4: SMP Lifeskills2work, which provides services covering Perth’s southern suburbs, is being questioned by the Department of Community Services about payments to a range of businesses linked to five of the board’s nine directors.
Page 7: WA nursing homes will be subject to five times as many surprise checks under the Federal Government’s planned crackdown on abuse and poor care.
Business: The WA Government is poised to bank a $200 million-plus profit by selling into the $2 billion float of online settlements company Property Exchange Australia.
Australia’s dry-cleaning and laundry upstart, Laundromap, has bought Perth’s oldest drycleaner as part of an expansion drive heading into a planned public float.
Woodside Petroleum has avoided maintaining a critical fire protection system on an oil production vessel off the North West so as not to endanger workers.
Bega Cheese executive chairman Barry Irvin says the cheese and breakfast spreads maker is a logical owner of Capilano Honey as it again lifts its shareholding in the honey producer.
US private-equity backed resources start-up Black Mountain Metals is planning to treble the size of its Perth office to 30 staff next year as it expands its commodity focus beyond nickel and spread its wings overseas.
Infrastructure investor Infratil is looking to sell Perth Energy, a Kwinana power producer with the right to sell directly to business users in WA.
Rabobank is forecasting 3.7 million tonnes of WA grain will head from west to east by truck, train and ship this harvest, because of drought in the Eastern States.
Property: Civil Contractors Federation is urging the Government to produce a standard, fair contract and mandate its use on all government projects.
The State Government is being urged to provide financial relief to subcontractors owed money for government work.
Tanya Steinbeck has been appointed chief executive of WA’s Urban Development Institute of Australia starting next month.
WA’s industrial market reported 19 institutional-grade ($10 million-plus) industrial sales in the year to June 30 — the most for three years.
City of South Perth has recommended a six-storey, 20-apartment project in predominantly single-dwelling area, Edgecumbe Street, Como, be approved.
