18/12/2018 - 06:52

Morning Headlines

18/12/2018 - 06:52

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PM’s $9.2bn tax cut plan for election

Morning Headlines

PM’s $9.2bn tax cut plan for election

Scott Morrison will unveil $10.6 billion in tax cuts and targeted spending before next year’s election in a last-ditch effort to recast his government’s fortunes. The Aus

Shorten government would introduce Fair Work pay equity rules

An incoming Labor government would strengthen the Fair Work Commission’s powers to order pay increases for workers in female-dominated industries. The Fin

Low-grade blow for new miner

Poor grades have stalled newly minted gold miner Coolgardie Minerals, with the junior gold play requiring top-up funding to cover costs at its Geko mine. The West

Jetstar pays dearly for no refund claims

Qantas subsidiary Jetstar Airways has been fined $1.95 million after it misled customers over their rights to a refund amid a festive season warning to all airlines about their obligations under consumer law. The Fin

Fall in ad spend ‘the canary in coal mine’

Statistics from industry bible SMI showed that total advertising spending across all media in October fell by more than 10 per cent compared with the same month last year. The Aus

ACCC gets $35m for cartel fight

A $35.6 million cash injection to help the consumer regulator combat price-fixing cartels announced yesterday brings the amount of money the government has pledged to fight white-collar and corporate crime to more than $200m, new figures show. The Aus

Purplebricks Australia losses blow out

Forecasts that Purplebricks Australia will become profitable by mid-2019 have been dealt a huge blow with the fixed-fee estate agency crashing to an $18 million interim loss, according to accounts filed in London by its British parent. The Fin

 

 

The Australian Financial Review

Page 1: Telstra chief executive Andy Penn has warned 12 months of ‘‘heavy lifting’’ lie ahead of the embattled telecommunications giant before the results of his flagship restructure, which includes a complete reshaping of the executive team, begin to flow through to the company’s bottom line.

Page 3: Oscar-winning actor Geoffrey Rush has denied a second allegation of inappropriate behaviour and touching, after Hollywood star Yael Stone went public with claims around a 2010 play staged in Sydney.

The resignation of junior minister Andrew Broad has added to pressure on Nationals leader Michael McCormack, after he admitted to knowing about an emerging sex scandal involving the Victorian MP for weeks.

Page 4: The federal government’s budget update has forecast wages to grow at a slower rate than first thought, in a result economists called ‘‘disappointing’’, and likely to slow consumption and the case for an official interest rate hike.

Page 5: Treasury is expecting the growth in corporate profits – mainly in mining – to double this financial year to $495 billion, driving the big company tax takes that helped underpin the first surplus since before the 2008 financial crisis.

Page 7: Almost half of 40- to 50-year-olds oppose Labor’s planned changes to negative gearing, but the move has been endorsed by Baby Boomers over 55 who are unlikely to be affected, according to the latest Ipsos poll.

Page 8: Labor leader Bill Shorten has avoided an internal fight over asylum-seeker policy by agreeing to changes that would see Australia gradually expand its annual humanitarian intake to 32,000 people and give the United Nations an extra $500 million to help resettle refugees elsewhere in the region.

Page 9: Banks will be forced to pay financial compensation and remediation to every bank customer who has been wronged, as the Labor Party signalled a tough response to the Hayne royal commission if it wins power.

An incoming Labor government would strengthen the Fair Work Commission’s powers to order pay increases for workers in female-dominated industries.

Page 10: Labor has committed to restore a controversial system of minimum pay and conditions for the transport industry that would extend to gig economy companies such as Uber.

Page 14: National Australia Bank chief executive Andrew Thorburn will take extended leave after a bruising year of scandals at the big four lender, including in his own office, that he described as ‘‘the biggest and most relentless’’ of his career.

Page 16: Losses at OrotonGroup more than halved in 2018 after the accessories retailer slashed marketing, sales and administration costs about 25 per cent following a $24 million ‘‘rescue’’ by fund manager Will Vicars.

Page 17: The corporate regulator has taken wealth giant AMP and Clayton Utz to court for failing to hand over file notes of interviews between AMP employees and the law firm’s lawyers.

Page 23: Qantas subsidiary Jetstar Airways has been fined $1.95 million after it misled customers over their rights to a refund amid a festive season warning to all airlines about their obligations under consumer law.

Page 31: Forecasts that Purplebricks Australia will become profitable by mid-2019 have been dealt a huge blow with the fixed-fee estate agency crashing to an $18 million interim loss, according to accounts filed in London by its British parent.

 

 

The Australian                                                                                                                          

Page 1: Scott Morrison will unveil $10.6 billion in tax cuts and targeted spending before next year’s election in a last-ditch effort to recast his government’s fortunes.

Page 2: The most significant overhaul of civil aviation safety regulations in more than 20 years will ensure safety standards are the same for charter flight operators as they are for airlines.

Page 4: Almost half a trillion dollars will be shaved from government spending over the next 10 years under the Coalition’s repair job on the long-term structural damage inflicted on the budget from a decade of deficits that began under the former Labor government.

Page 5: Emissions reductions in Australia’s electricity market are on track to meet the Paris target eight years ahead of schedule, in 2022, and the government has seized on new data to attack Labor’s plan for stronger intervention to curb carbon pollution.

Page 15: Statistics from industry bible SMI showed that total advertising spending across all media in October fell by more than 10 per cent compared with the same month last year.

Commodity prices could deliver the federal budget a further pre-election windfall, with iron ore and coal continuing to trade well above Treasury’s forecasts.

Malaysian authorities have filed criminal charges against Goldman Sachs and a former partner of the bank in connection with the 1MDB financial scandal, according to the country’s Attorney-General.

Page 16: The sales process for Western Australia’s $1.5 billion Land Information Authority has been pushed back well into the new year.

Page 17: Another Australian retailer has bitten the dust with Laura Ashley stores to close by the end of the month after the collapsed chain failed to find a buyer that could rescue the group from liquidation.

Page 18: A $35.6 million cash injection to help the consumer regulator combat price-fixing cartels announced yesterday brings the amount of money the government has pledged to fight white-collar and corporate crime to more than $200m, new figures show.

 

 

The West Australian

Business: Federal Agricultural Minister David Littleproud has placed live sheep exporters in the firing line, demanding a prompt response to how quickly new heat alleviation technology can be installed on livestock vessels.

The body tasked by the State Government to come up with a blueprint for ports to serve Perth for the next 50-100 years has nine months left to reach its goal.

Fortescue Metals Group has shipped first cargo of its new higher-grade West Pilbara Fines blend.

Poor grades have stalled newly minted gold miner Coolgardie Minerals, with the junior gold play requiring top-up funding to cover costs at its Geko mine.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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