23/01/2019 - 06:23

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23/01/2019 - 06:23

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Shadow treasurer Chris Bowen has said he is concerned about risks to Australia from the slowing world economy, so Labor must implement all its $200 billion-plus in pledged tax rises to arm the federal government with a bigger fiscal ‘‘buffer’’ to counteract any global downturn.

Bowen touts $200b tax hike buffer

Shadow treasurer Chris Bowen has said he is concerned about risks to Australia from the slowing world economy, so Labor must implement all its $200 billion-plus in pledged tax rises to arm the federal government with a bigger fiscal ‘‘buffer’’ to counteract any global downturn. The Fin

Tax strike on Airbnb, Uber users

Almost 11 million Australians who earn money from sharing economy platforms such as Uber and Airbnb will be subject to a new reporting regime to ensure tax is paid on income now estimated at $15 billion a year. The Aus

Shorten in $1b clean fuel push

Opposition Leader Bill Shorten has pledged to spend more than $1 billion to launch an Australian clean hydrogen fuel industry where WA is well-placed for success. The West

Xi sends out alert signal as risks rise

President Xi Jinping says he is worried about China’s slowing economy, US trade tensions and potential political instability, urging the country’s top Communist Party officials to be ‘‘highly alert’’ to unexpected risks. The Fin

Broome gets a serious lift

Direct international flights from Broome to Singapore will restart in June, opening the Kimberley to the lucrative Asian tourism market and connecting passengers to the Lion City and its worldwide links. The West

Australia top target for Chinese CEOs

Chinese chief executives are increasingly pinning their hopes on Australia and have abandoned the US as a pillar of their corporate growth strategy, according to a survey of more than 1300 global CEOs released by PwC on Tuesday. The Fin

Volt leads the charge to online banking

The banking regulator has granted start-up Volt a fully fledged banking licence, paving the way for a battle between digital players and scandal-ridden incumbent banks this year. The Aus

 

The Australian Financial Review

P1: Shadow treasurer Chris Bowen has said he is concerned about risks to Australia from the slowing world economy, so Labor must implement all its $200 billion-plus in pledged tax rises to arm the federal government with a bigger fiscal ‘‘buffer’’ to counteract any global downturn.

P1: President Xi Jinping says he is worried about China’s slowing economy, US trade tensions and potential political instability, urging the country’s top Communist Party officials to be ‘‘highly alert’’ to unexpected risks.

P1: Young Rich Listers Nick Molnar and Larry Diamond are split on whether or not their rival, buy-now, pay-later services should be classed as credit providers, which could leave the disruptive start-ups facing stricter regulation.

P5: The economic ‘‘storm clouds’’ on the global horizon have left Treasurer Josh Frydenberg unfazed, as he reaffirmed the government’s position that the budget would reach a surplus next financial year.

P6: Jobs in Australia’s maritime industry and the nation’s critical shipping capability have been left at risk because of a lack of investment and policy focus by successive governments, a national peak body has warned.

P7: The proportion of casual employees has fallen in the past two years, ‘‘going against the grain’’ of the hypothesis that the workforce is slowly being casualised, experts said.

P8: Chinese chief executives are increasingly pinning their hopes on Australia and have abandoned the US as a pillar of their corporate growth strategy, according to a survey of more than 1300 global CEOs released by PwC on Tuesday.

P12: Britain’s main opposition party is backing a plan that would open the door to a second European Union referendum, bringing the prospect of stopping Brexit a step closer.

P15: Labor has condemned any move to use funds from the Coalition government’s new underwriting mechanism for new ‘‘firm’’ power plants to fund coal generation, as it emerged a coal upgrade is among the projects for which Alinta Energy wants to tap the mechanism.

P31: Despite an ongoing tourism boom, capital-city hotel profitability slipped in 2018 as a wave of new hotel openings made it harder for operators to lift their rates.

P33: A shortage of skilled workers and an increase in cost of labour and materials will continue to push up construction costs in Australia this year and future years notwithstanding slowing activity in housing development, a report by global quantity surveyor Rider Levett Bucknall (RLB) shows.

 

The Australian

P1: Almost 11 million Australians who earn money from sharing economy platforms such as Uber and Airbnb will be subject to a new reporting regime to ensure tax is paid on income now estimated at $15 billion a year.

P1: Scott Morrison has stoked an internal feud after his plan to install former ALP national president Warren Mundine in the NSW seat of Gilmore backfired when dumped Liberal candidate Grant Schultz vowed to run as an independent in the knife-edge seat and split the government’s vote.

P2: Clive Palmer’s decision to shift his corporate headquarters to New Zealand as part of a threat to sue the Australian government for $45 billion has hit an immediate obstacle after experts in international law said the businessman’s ploy had no chance of succeeding.

P4: Tony Abbott will direct a Liberal Party social media campaign machine on the back of almost half a million of his Facebook followers in a bid by the federal party to mobilise its centre-right support base as an election counter to the leftwing activist group GetUp.

P5: Josh Frydenberg has flagged the government is considering backing Productivity Commission proposals to unshackle the default superannuation market from the industrial relations system and force tougher tests on super funds to prove their “right to remain” in the $2.7 trillion super system.

P15: Embattled wealth group AMP faces growing investor resentment, including a potential protest vote against the election of chairman David Murray and a second strike against its pay report, at its upcoming annual general meeting.

P15: The banking regulator has granted start-up Volt a fully fledged banking licence, paving the way for a battle between digital players and scandal-ridden incumbent banks this year.

P16: The Australian Competition & Consumer Commission’s move to push back its decision on the $15 billion TPG and Vodafone merger is adding to speculation that the deal will be rejected.

 

The West Australian

P16: Greens MPs in WA will help sink the State Government’s partial takeover of the rock lobster industry by declaring the controversial plan an “unacceptable commercial intervention” by the State.

P17: Direct international flights from Broome to Singapore will restart in June, opening the Kimberley to the lucrative Asian tourism market and connecting passengers to the Lion City and its worldwide links.

Business: Indigenous-owned Kimberley Agriculture Pastoral Company is taking over management of the 402,000ha Myroodah Station near Derby, positioning it as one of the biggest cattle operators in the West Kimberley.

BHP has pencilled a $300 million-plus price tag on its Pilbara train derailment as investors and analysts were primed for hard work in the rest of 2018-19.

Opposition Leader Bill Shorten has pledged to spend more than $1 billion to launch an Australian clean hydrogen fuel industry where WA is well-placed for success.

Some time in the next few months, Sky and Space Global managing director Meir Moalem will look on as the first of 200 tiny satellites are launched into orbit.

Property: An affordable housing developer has blasted the City of Joondalup, saying it is systematically blocking “100 per cent compliant” housing, including projects for the Department of Communities.

City of South Perth councillors had created an unacceptable planning limbo by postponing public advertising of a carefully considered revision to its town planning scheme, WA Planning Commission David Caddy said.

The State Government has slapped a for sale sign on a former Princess Margaret Hospital carpark — across the road from LandCorp-Metropolitan Redevelopment Authority’s Subiaco East redevelopment precinct.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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