17/03/2014 - 05:58

Morning Headlines

17/03/2014 - 05:58

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Morning Headlines

Hochtief warns of Leighton job cuts

Hochtief, the owner of Leighton Holdings, has warned jobs in the Australian group’s 56,000-strong global work force could be cut and operating brands such as John Holland and Thiess merged or ditched, as it urged investors to accept its $1.2 billion takeover offer. The Fin

Crown bids for fourth hotel

James Packer's Crown Limited has plans for a fourth hotel at its Perth casino and entertainment complex at Burswood. The West

It’s a long road back: Shorten

Bill Shorten has conceded Labor ‘‘has a long road back’’ and faces new calls for party reform after state elections in South Australia and Tasmania cut Labor’s presence in parliaments across the nation to fewer than one in three seats. The Aus

Senate deals leave Palmer on the outer

Clive Palmer's chances of winning a WA Senate seat have been dealt a blow, with preference deals cut between political parties appearing to favour the status quo of three Liberals, two Labor and one Green. The West

BHP chief flags cash returns to investors

BHP Billiton chief executive Andrew Mackenzie has reaffirmed that the resources giant is preparing to turn the taps on for shareholder rewards once net debt is reduced to $US25 billion, ($27.7bn) with the possibility that multi-billion-dollar share buybacks could be announced as early as August. The Aus

Victoria, WA on the outer in GST carve-up

Victoria and Western Australia are the big losers in a $670 million proposed reshaping of the GST carve-up that will reignite the debate over how the tax is shared between the states. The Fin

PM in front as state votes split

The Abbott government has maintained a slender lead over Labor in a new poll which shows majority public support for the government’s plans to cut the costs of Medicare and its decision to reject a cry for help from Qantas. The Fin

 

 

The Australian Financial Review

Page 1: The Abbott government has maintained a slender lead over Labor in a new poll which shows majority public support for the government’s plans to cut the costs of Medicare and its decision to reject a cry for help from Qantas.

Australian Competition and Consumer Commission chairman Rod Sims has declared the watchdog is “nimble and flexible” enough to rule on media mergers in the digital age if the Abbott government rips up long-standing ownership structures.

The forestry union has split with the Labor Party, backing Tasmanian Premier-elect Will Hodgman’s mandate to tear up the state’s landmark forestry peace deal.

Page 3: Victoria and Western Australia are the big losers in a $670 million proposed reshaping of the GST carve-up that will reignite the debate over how the tax is shared between the states.

Daniel Ricciardo became the first local driver ever to finish on the podium of the Australian Grand Prix, coming second in the race held in Melbourne late on Sunday.

Page 4: The federal government appears to be winning the public over on its approach to budget cuts to Medicare with a new poll showing voters to be either evenly split or in support of cost-saving measures flagged so far.

Page 5: The federal government will step up the pressure on Labor to stop blocking planned budget savings in the Senate by claiming the opposition’s refusal to pass key bills plus its own emerging policy plans would blow a $45 billion “black hole” in the economy.

Page 8: Three of Australia’s highest-profile businessmen – Hugh Morgan, Maurice Newman and Harold Mitchell – and senior former diplomat John McCarthy, have all cautioned the Abbott government against scrapping the ABC’s Asian broadcasting unit, the Australia Network.

Page 13: Hochtief, the owner of Leighton Holdings, has warned jobs in the Australian group’s 56,000-strong global work force could be cut and operating brands such as John Holland and Thiess merged or ditched, as it urged investors to accept its $1.2 billion takeover offer.

Page 15: Rio Tinto has expressed concern about the lack of international co-operation on tax transparency laws, saying the multitude of new legislation could send compliance costs soaring by tens of millions of dollars for global companies.

Page 30: Seven West Media is seeking to emulate the success of the competition for creative advertising run during the Super Bowl in the United States by holding a similar event throughout the Australian Football League finals series.

 

 

The Australian

Page 1: Bill Shorten has conceded Labor ‘‘has a long road back’’ and faces new calls for party reform after state elections in South Australia and Tasmania cut Labor’s presence in parliaments across the nation to fewer than one in three seats.

Page 2: A regulation that is costing equipment-hire firms millions of dollars a year in compliance is at the top of Tony Abbott’s $1 billion red-tape hit list, part of which will be revealed this week.

Global industrial and financial giant GE has backed the repeal of the carbon tax, dismissing the current scheme as ‘‘too narrowly focused’’ and declaring investors want policy certainty.

Page 7: The once-powerful ‘‘Old Guard’’ faction of Kevin Rudd and Peter Beattie has been wiped out amid infighting and a series of backroom deals by internal Labor rivals over looming state pre selections.

Page 9: People in Crimea took to the polls yesterday for a referendum on breaking away from Ukraine to join Russia that has precipitated a Cold War-style security crisis on Europe’s eastern frontier.

Page 17: Surging nickel prices have boosted interest in a planned sale by Chinese-controlled MMG of its mothballed Avebury nickel mine on Tasmania’s west coast, which was developed at a cost of $880 million.

BHP Billiton chief executive Andrew Mackenzie has reaffirmed that the resources giant is preparing to turn the taps on for shareholder rewards once net debt is reduced to $US25 billion, ($27.7bn) with the possibility that multi-billion-dollar share buybacks could be announced as early as August.

Page 19: Almost 70 per cent of people in regional Australia believe NBN Co’s $1.1 billion fixed wireless program should also be used to provide mobile services, in a move that would subject Telstra to greater competition in the bush.

Rio Tinto is facing an extra $US75 million ($83m) in annual tax compliance costs as new global reporting requirements in the US and European Union substantially increase reporting requirements.

 

 

The West Australian

Clive Palmer's chances of winning a WA Senate seat have been dealt a blow, with preference deals cut between political parties appearing to favour the status quo of three Liberals, two Labor and one Green.

James Packer's Crown Limited has plans for a fourth hotel at its Perth casino and entertainment complex at Burswood.

Aquifers earmarked for drinking water between Geraldton and Busselton could be compromised if companies are allowed to drill for gas through them, the Water Corporation has warned.

Law enforcement target John Kizon has slammed the Australian Crime Commission after beating five charges over an alleged insider trading conspiracy.

More and more shareholders cannot be bothered with annual meetings, with major companies recording the biggest loss of support, new analysis shows.

Three State Government backbenchers have broken ranks with ministerial colleagues to launch a potentially explosive inquiry to WA's rail freight network.

Australia's media union is again demanding uniform shield laws across the country after billionaire Gina Rinehart was ordered to pay the costs of Fairfax journalist Adele Ferguson following a failed attempt to force her to reveal her sources.

Environment Minister Albert Jacob has cleared the way for WA's first commercial abalone farm despite claims the project could pose a disease risk to wild abalone stocks.

Qantas chief executive Alan Joyce says he is trying to avoid impacts on workers as the airline proceeds with a turnaround plan that includes cutting 5000 jobs.

Incoming Treasurer Mike Nahan needs to set out a plan in May's State Budget to win back WA's AAA credit rating, the new chief executive of the WA Chamber of Commerce and Industry says.

Unemployment across WA has hit a 10-year high as mining construction ebbs, but there are signs of jobs emerging in other sectors.

 

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