19/12/2019 - 06:43

Morning Headlines

19/12/2019 - 06:43

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Morning Headlines

Google to pay ATO nearly $500m in tax settlement

Google has agreed to pay an extra $481.5 million tax to settle a decade long dispute with the Australian Tax Office over its local accounts. The Fin

Jetstar stands firm as TWU makes last-minute plea to return to table

Budget airline Jetstar has stood firm on what the Transport Workers Union called an ‘‘11th-hour plea’’ to return to the bargaining table before ground workers walk off the job today. The Fin

Battle of the wages

A public sector wages war is brewing ahead of the next State election, with warnings a return to average expenses growth will plunge the Budget back into a billion-dollar-plus deficit within three years. The West

Bight fight as drilling approved

Norwegian energy giant Equinor could kick off drilling in the environmentally sensitive Great Australian Bight next year for the first time since 2003 after receiving environmental approval, despite a high-profile campaign from iron ore billionaire Andrew Forrest to halt the controversial project. The Aus

NAB boss: beware of banker pain

National Australia Bank chief executive Ross McEwan said bankers who have ripped off customers should be afraid but warned that an overly punitive approach by regulators could produce an exodus of talent from the industry. The Fin

Iron ore underpins record $281b in resource and energy exports

Resource and energy export earnings are forecast to reach a record $281 billion this financial year before easing back due to softer prices, according to the government’s official resources and energy forecaster. The Fin

Hemp in a hard shell

Shares in WA medical cannabis company AusCann have skyrocketed on the release of its cannabinoid-based hard-shell capsules for clinical evaluation. The West

WA still doing it tough

Almost one-in-three West Australians spent more than they earned over the past three months, while one-in-four are finding their job prospects are getting worse. The West

Suppliers, staff owed $50m stranded by EC&M collapse

Suppliers and former employees owed $50 million have been left stranded by the collapse of electrical contactor EC&M. The West

 

 

The Australian Financial Review

Page 1: National Australia Bank chief executive Ross McEwan said bankers who have ripped off customers should be afraid but warned that an overly punitive approach by regulators could produce an exodus of talent from the industry.

Page 3: Australian chief executives fear a great global schism in technology between the United States and China, which will force companies and universities to pick sides.

ANZ Bank pocketed $73.8 million in fees over the two years it took to transfer 202,000 superannuation members to a new low-cost MySuper option, according to information provided to a parliamentary committee this week.

Page 4: The government has effectively accused Labor of wanting to blow the budget by insisting it bring forward the second round of tax cuts to boost the flagging economy.

Page 5: Google has agreed to pay an extra $481.5 million tax to settle a decade-long dispute with the Australian Tax Office over its local accounts.

The Morrison government could increase investment thresholds and overhaul business categories for special access visas to Australia, part of a review of the $13 billion scheme.

Page 6: Resource and energy export earnings are forecast to reach a record $281 billion this financial year before easing back due to softer prices, according to the government’s official resources and energy forecaster.

Page 9: Most Coalition supporters in Australia are ideologically closer to Americans who voted for Hillary Clinton than those who supported Donald Trump, a new survey has found.

Page 11: WeWork has obtained $US1.75 billion ($2.56 billion) in new financing in a fundraising push led by Goldman Sachs, under terms that free up a mountain of cash for the struggling office-sharing company.

Page 14: Westpac has been served with a class action lawsuit alleging it deceived investors by failing to disclose the extent of AUSTRAC’s risk management concerns, as documents reveal the bank made just under $2 million profit from the 23 million unreported transactions.

Page 17: Budget airline Jetstar has stood firm on what the Transport Workers Union called an ‘‘11th-hour plea’’ to return to the bargaining table before ground workers walk off the job today.

Page 20: Oil Search has announced a large boost to the amount of oil expected to be contained in its Pikka development in Alaska as the board approved a go-ahead for engineering work on the project set to cost about $8 billion.

 

 

The Australian

Page 1: The two indigenous leaders overseeing the design of a voice to government favour elected representatives with the power to ensure millions of dollars meant to improve the lives of Aboriginal Australians are not lost to “leakage”.

Page 3: Samantha Armytage and David Koch have had their summer holidays cut short, with the Seven Network recalling Sunrise’s biggest stars from leave a week early to ensure it maintains its 15-year dominance over rival Nine’s ailing Today show.

Page 5: Australians are being warned to remain vigilant when it comes to NBN impersonators, by far the most reported scam for 2019.

Page 13: Norwegian energy giant Equinor could kick off drilling in the environmentally sensitive Great Australian Bight next year for the first time since 2003 after receiving environmental approval, despite a high-profile campaign from iron ore billionaire Andrew Forrest to halt the controversial project.

Page 15: Wealthy Australians pretending to be poor to avoid tax will be targeted by the Australian Taxation Office over the yachts, thoroughbred horses, fine art and luxury vehicles and aircraft they own.

Page 19: The auditor general’s report showing defence projects are $10bn over budget and an average of 27 months late is a warning to the nation that our decision making structure is not good at developing major defence projects.

 

 

The West Australian

Page 6: A public sector wages war is brewing ahead of the next State election, with warnings a return to average expenses growth will plunge the Budget back into a billion-dollar-plus deficit within three years.

A $4.9 million provision for an elevator to the top of Optus Stadium to provide all-ability access for a “rooftop climb” attraction was just one of the unannounced spending changes tucked away in Treasurer Ben Wyatt’s mid-year review.

Page 7: Almost one-in-three West Australians spent more than they earned over the past three months, while one-in-four are finding their job prospects are getting worse.

Page 12: The City of Albany council has been divided on changes to local animal laws, with one councillor describing an amendment as “local government gone mad”.

Page 14: Police are now investigating the former top aide to WA Treasurer Ben Wyatt over a complaint lodged by a female colleague after an incident at a staff party on Friday.

Page 18: Dozens of WA suburbs are without public defibrillators, prompting calls from St John WA for local communities to ensure they are equipped with one of the life-saving machines.

Security at Kalgoorlie Health Campus will be beefed up to combat incidents of violent and aggressive behaviour.

Page 20: Australians are struggling more than other homeowners across the world to repay their mortgages as international figures reveal a big number feel “overburdened” by their repayments.

Business: The WA Government’s predicted sharp fall in the price of iron ore next year is at odds with industry forecasts that paint a more optimistic picture.

Suppliers and former employees owed $50 million have been left stranded by the collapse of electrical contactor EC&M.

Shares in WA medical cannabis company AusCann have skyrocketed on the release of its cannabinoid-based hard-shell capsules for clinical evaluation.

 The top 200 listed companies in Australia have for the first time reached the 30 per cent target of female representation on boards.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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