07/03/2019 - 06:54

Morning Headlines

07/03/2019 - 06:54

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Morning Headlines

ScoMo reveals why WA will decide who wins the election

Prime Minister Scott Morrison has declared the Liberal Party can hang on to all its WA seats at this year’s Federal election, making a pitch to “aspirational” voters as he begins a three-day campaign blitz of the State. The West

Plans for coal to renewables

The State Government will not mandate a renewable energy target as it plans changes to the electricity system to handle the growth of wind and solar energy. The West

WACA’s $75m pitch

Details of a $75 million plan to save and rejuvenate the historic WACA Ground by turning it into a 10,000-seat, multi-sport stadium and community venue have been revealed. The West

Chevron to lift output of WA gas

Chevron has outlined a ‘‘capital-light’’ plan for expanding its LNG position in Western Australia, involving working its $US88 billion ($125 billion) of LNG production plants harder as well as using third-party infrastructure to capture what upstream head Jay Johnson has described as ‘‘very valuable incremental barrels’’. The Fin

Call to simplify tax for Airbnb, Uber platforms

A tax crackdown on the 11 million Australians making money from sharing economy platforms, such as Uber and Airbnb, should be easy to comply with and designed to link to ATO data matching technology, experts say. The Fin

Business warns Labor wage plan won’t lift living standards

A return to last century’s industrial relations system and government dictated wage hikes won’t deliver the sustained gains in living standards Labor is promising voters and threatens to send capital offshore, say the nation’s leading business leaders. The Fin

Resources boom gives government wriggle room

Booming iron ore and coal prices should enable the federal government to revise tax revenues higher in next month’s budget, creating additional scope for personal income tax cuts. The Fin

BHP takes control of its power

BHP has created a new Australian trading unit overseeing its gas, electricity and carbon emissions management as it pushes to assert greater control over its role as both a major energy consumer and producer following several years of market volatility. The Aus

Chronican to steer NAB out of trouble

The embattled board of National Australia Bank has appointed Phil Chronican as chairman to lead the bank out of the wilderness, replacing the incumbent Ken Henry and taking a pivotal role in the selection of NAB’s next chief executive over the next few months. The Aus

 

 

The Australian Financial Review

Page W1: A return to last century’s industrial relations system and government dictated wage hikes won’t deliver the sustained gains in living standards Labor is promising voters and threatens to send capital offshore, say the nation’s leading business leaders.

Reserve Bank governor Philip Lowe has played down the risks of the slowdown in economic growth, saying the ‘‘wealth effect’’ on consumer spending from falling house prices will be limited to cars and furniture, as he ruled out increasing interest rates this year.

Page W6: AustralianSuper will review the robustness of its conflicts policies following tie-ups with private equity to bid for Healthscope and Navitas.

Page 1: Myer’s long-suffering shareholders have been given a glimmer of hope that the 119-year-old chain might survive the structural shift in spending away from bricks and mortar stores by overcoming weaker sales to deliver its first earnings growth in almost eight years.

Page 5: More than 20 projects under the Coalition’s $2.5 billion Emissions Reduction Fund have failed to deliver a promised 13.5 million tonnes in carbon abatement and have been terminated by the Commonwealth over the past four years.

Page 6: The Morrison government will ask the small business ombudsman to review Tax Office treatment of small businesses involved in legal disputes, including moves to begin recovery of debts before cases are resolved.

Page 7: The Morrison government has agreed to introduce unprecedented criminal sanctions for employers who seriously exploit workers and a national registry scheme to crack down on unscrupulous labour-hire firms.

Page 8: A tax crackdown on the 11 million Australians making money from sharing economy platforms, such as Uber and Airbnb, should be easy to comply with and designed to link to ATO data matching technology, experts say.

Page 17: China’s Hunan Valin Group has moved to sell down its stake in Fortescue Metals Group just days after the iron ore miner went ex-dividend on supercharged returns to shareholders.

Chevron has outlined a ‘‘capital-light’’ plan for expanding its LNG position in Western Australia, involving working its $US88 billion ($125 billion) of LNG production plants harder as well as using third-party infrastructure to capture what upstream head Jay Johnson has described as ‘‘very valuable incremental barrels’’.

 

 

The Australian

Page 3: Labor has attacked Communications Minister Mitch Fifield over the ABC’s $1.64 million payment to ousted managing director Michelle Guthrie amid calls for the public broadcaster’s funding safeguard to be extended to five years.

Page 4: Booming iron ore and coal prices should enable the federal government to revise tax revenues higher in next month’s budget, creating additional scope for personal income tax cuts.

Page 8: The Australian Defence Force’s standard new rifle, the EF88 Austeyr, which cost taxpayers $100 million, has a defect in some models that could cause an “out-of-breech explosion”.

Women will be empowered to crack the “grass ceiling” and elevate themselves to the highest levels in the hyper-masculine sports industry.

Page 17: The embattled board of National Australia Bank has appointed Phil Chronican as chairman to lead the bank out of the wilderness, replacing the incumbent Ken Henry and taking a pivotal role in the selection of NAB’s next chief executive over the next few months.

Page 19: King River Capital, the brainchild of former Goldman Sachs veteran Chris Barter and venture capitalist Zebediah Rice, has set up shop in Australia, with an eye to giving Australian tech talent a direct channel into global markets.

Koligo Therapeutics, a regenerative medicine company with a product to treat pancreatitis already on sale in the US, is set to list on the Australian market.

Page 20: BHP has created a new Australian trading unit overseeing its gas, electricity and carbon emissions management as it pushes to assert greater control over its role as both a major energy consumer and producer following several years of market volatility.

Page 21: Australia’s health insurers have called for a rethink on the fringe benefit tax charged to employers who subsidise private healthcare, arguing an exemption could lift falling participation rates.

 

 

The West Australian

Page 4: Prime Minister Scott Morrison has refused to acknowledge the legitimacy of a coalition of refugee advocates who have taken charge of the process of referring refugees from Manus Island and Nauru to Australia for medical treatment.

Page 5: Prime Minister Scott Morrison has declared the Liberal Party can hang on to all its WA seats at this year’s Federal election, making a pitch to “aspirational” voters as he begins a three-day campaign blitz of the State.

Page 7: Experts fear Australia is on the cusp of another super flu season, after a record-breaking 25,000 people were hit by the virus in the past four months.

Page 8: Australia’s economy has slowed dramatically just months from the Federal election, and the Reserve Bank has conceded falling property prices in cities such as Perth are a factor.

Former WA premier Colin Barnett has warned about the falling public standing of big business, arguing companies need to show they are fixing problems they created or risk facing regulation.

Page 14: Details of a $75 million plan to save and rejuvenate the historic WACA Ground by turning it into a 10,000-seat, multi-sport stadium and community venue have been revealed.

Business: Newly appointed Capricorn Metals boss Warren Hallam has left the aspiring gold miner less than a month after joining, following a shareholder vote that replaced all but one member of the company’s board.

Embattled green power company Carnegie Clean Energy will stay suspended from trading for at least another week while it completes a review of its troublesome micro-grid arm.

The State Government will not mandate a renewable energy target as it plans changes to the electricity system to handle the growth of wind and solar energy.

A new processing plant will be added to the expanding Greenbushes lithium mine as part of a confidential settlement of a dispute with US group Global Advanced Metals.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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