24/06/2019 - 06:43

Morning Headlines

24/06/2019 - 06:43

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Morning Headlines

War on red tape to boost economy

Scott Morrison has sought inspiration from Donald Trump to announce a new plan to slash red tape in the resources sector in a bid to supercharge the economy. In his first visit to Perth since his “miracle” election win, the Prime Minister will today crank up pressure on Labor to pass the Government’s full $160 billion tax cuts package, arguing West Australians deserve to keep more of what they earn. The West

Former premier supports policy backflip on power

Former West Australian premier Colin Barnett has backed new Liberal Party leader Liza Harvey’s controversial decision to abandon the $11 billion sale of the state-owned electricity grid, the signature policy he took to the last election. The Aus

WA’s secret carbon tax plan revealed

The West Australian government is not ruling out a carbon tax on the local resources industry just months after the state’s environmental watchdog sent shockwaves through oil and gas companies after unveiling a net zero emissions policy. The Fin

CBH in snooping operation

CBH’s efforts to get detailed information about the cropping plans of WA’s 4000 grain growers has triggered concerns the cooperative will use the information to bargain unfairly. The West

Late payments create $7b ‘domino effect’

Small and medium-sized businesses are getting ripped off $7 billion a year because bigger businesses are not paying them $115 billion on time, according to a comprehensive study of invoicing from more than 150,000 businesses. The Fin

ACTU goes after Qantas over bonus scheme

The Australian Council of Trade Unions is launching legal action against Qantas over its decision to refuse a $2000 bonus to employees unless they sign on to new company-endorsed enterprise agreements. The Fin

‘Survival of the fittest’ as equity managers shut

Numerous active equity funds have closed their doors in the first six months of 2019 due to a volatile trading environment and investors switching to passive funds with lower fees, according to those in the industry. The Fin

'Ban on plastic bags hits economy'

Australian businesses have warned Treasury that bans on plastic bags are contributing to the weakening economy as shoppers are unable to carry large amounts of groceries to their car or home, confidential briefings reveal. The Aus

Super system 'far too complex'

Two Nobel Prize-winning economists have slammed the efficiency of superannuation and urged major reform, just weeks after Treasurer Josh Frydenberg announced another inquiry into the besieged $2.8 trillion sector. The Aus

$566,000 ideas box

WA taxpayers have forked out more than half a million dollars for a virtual “ideas box” for public servants, leading to claims the McGowan Government has run out of policies. The West

 

 

The Australian Financial Review

Page 1: Prime Minister Scott Morrison has vowed to slash government red tape to unlock investment and opened the door to industrial relations reform, challenging business to make the case for change and to deliver ‘‘shared gains’’ for workers and employers.

The West Australian government is not ruling out a carbon tax on the local resources industry just months after the state’s environmental watchdog sent shockwaves through oil and gas companies after unveiling a net zero emissions policy.

Page 5: Small and medium-sized businesses are getting ripped off $7 billion a year because bigger businesses are not paying them $115 billion on time, according to a comprehensive study of invoicing from more than 150,000 businesses.

Page 6: Some of the nation’s biggest and best known superannuation funds have been accused of ignoring regulatory rules for fee disclosure and reporting figures in a way that makes their administration charges look smaller, angering their competitors.

Page 8: The Australian Council of Trade Unions is launching legal action against Qantas over its decision to refuse a $2000 bonus to employees unless they sign on to new company-endorsed enterprise agreements.

Page 10: The University of Western Australia has added the state’s treasurer to the board of its business school, bringing to five the number of business heavyweights appointed to the board this year.

Page 14: Scientists and universities are warning that money for basic scientific research is running short as governments pump money into projects that have easily recognised benefits.

Page 15: Numerous active equity funds have closed their doors in the first six months of 2019 due to a volatile trading environment and investors switching to passive funds with lower fees, according to those in the industry.

Page 17: The $70 billion Korean car giant Hyundai has warned that a $2.3 billion merger between ASX-listed car dealers AP Eagers and Automotive Holdings Group will erode competition in Australia and could force smaller dealers out of the market.

 

 

The Australian

Page 1: Scott Morrison will launch a renewed offensive on union militancy as an economic imperative while calling on Australian workers to help refuel the economy by spending their tax cuts of up to $1080 amid central bank warnings of slowing growth.

Australian businesses have warned Treasury that bans on plastic bags are contributing to the weakening economy as shoppers are unable to carry large amounts of groceries to their car or home, confidential briefings reveal.

Page 2: Scott Morrison is being urged to encourage the states to replace stamp duty with new land taxes in a move former Productivity Commission chairman Peter Harris says would drive a productivity explosion across Australia.
Page 6: Former West Australian premier Colin Barnett has backed new Liberal Party leader Liza Harvey’s controversial decision to abandon the $11 billion sale of the state-owned electricity grid, the signature policy he took to the last election.

Page 17: Two Nobel Prize-winning economists have slammed the efficiency of superannuation and urged major reform, just weeks after Treasurer Josh Frydenberg announced another inquiry into the besieged $2.8 trillion sector.

In the thick of a global trade war, at the whim of Malaysian politics, new investments on three continents, mixing in US defence circles, fending off an aggressive takeover at home and riding a rollercoaster share price — it’s all in a day’s work for Amanda Lacaze, the CEO of rare earths producer Lynas.

Page 19: Grocery wholesaler Metcash, with its earnings under attack from Woolworths and Coles as well as discounters such as Aldi, is expect to unveil a flat $215 million full-year profit this morning.

Page 21: CSIRO chairman and former Telstra boss David Thodey has teamed up with Accenture to launch an innovation award designed to showcase and cross-pollinate ideas between Australian and Kiwi companies.

Page 22: Bitcoin has risen to more than $US10,000 ($14,426) for the first time in over a year, riding a new wave of optimism about the value and future of digital currencies.

Page 26: Seven West Media’s chief revenue officer and director of Olympics, Kurt Burnette, believes more Australians will watch the Tokyo 2020 Olympics than those in Sydney almost 20 years ago.

 

 

The West Australian

Page 1: Scott Morrison has sought inspiration from Donald Trump to announce a new plan to slash red tape in the resources sector in a bid to supercharge the economy. In his first visit to Perth since his “miracle” election win, the Prime Minister will today crank up pressure on Labor to pass the Government’s full $160 billion tax cuts package, arguing West Australians deserve to keep more of what they earn.

Page 3: Sporting clubs have been asked to adopt gender guidelines that would allow transgender children to compete against any sex they identify as and pressure clubs to pay for sanitary bins in both male and female bathrooms.

Page 7: WA taxpayers have forked out more than half a million dollars for a virtual “ideas box” for public servants, leading to claims the McGowan Government has run out of policies.

Page 20: WA Police’s fight against bad drivers has gone high-tech with new number plate recognition software that uses artificial intelligence.

Business: CBH’s efforts to get detailed information about the cropping plans of WA’s 4000 grain growers has triggered concerns the cooperative will use the information to bargain unfairly.

A Perth company providing financial services to people in the Philippines who do not have bank accounts has been named as one of 50 companies in the global Inclusive Fintech 50 competition.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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