Welfare cuts to fund tax relief
The federal government will begin cutting the age pension in three years, reduce disability and other welfare payments immediately, and slash back family tax payments, while holding out the prospect of income tax cuts within five years, Tony Abbott has pledged. The Fin
Leviathan partners won’t wait for Woodside
The US company heading up the Leviathan gas venture in Israel has signalled that it will not hold up its own efforts to develop the giant resource waiting for Woodside Petroleum to complete its delayed entry into the project. The Fin
Bid for a $1b concert hall at Elizabeth Quay
Straddling a site of nearly 50,000sqm, The Arc is Burswood designer Shane O’Riley’s vision of an iconic development for Elizabeth Quay. The West
Wilmar bid too low, says Goodman
Goodman Fielder is the latest Australian food manufacturer to attract the attention of foreign buyers, with Singaporean agribusiness giant Wilmar International lobbing a $1.27 billion joint-venture takeover bid more than two years after it snapped up 10.1 per cent of the company. The Aus
Gindalbie wields axe at HQ
Acting Gindalbie Metals managing director Michael O’Neill says there has been no change in strategy at the miner despite a move to cut back its head office following the transfer of former boss Dale Harris to the company’s Karara Mining subsidiary. The West
Hacking a ‘national scandal’
Independent senator Nick Xenophon is calling for an urgent inquiry into the Chinese hacking of Parliament’s computer networks, saying the year-long intelligence breach was a national security scandal. The Fin
Drought loans fail to rain down on farmers
The concessional loans at the heart of the federal government’s $320 million emergency drought package have not been offered to farmers yet, two months after the relief was announced. The Aus
The Australian Financial Review
Page 1: The federal government will begin cutting the age pension in three years, reduce disability and other welfare payments immediately, and slash back family tax payments, while holding out the prospect of income tax cuts within five years, Tony Abbott has pledged.
Page 3: The government’s chief adviser on productivity has warned the nation is slipping behind in global rankings, threatening post-mining boom prosperity and high-wage hopes.
The Australian Taxation Office is set to consult with key figures in the growing Bitcoin industry for the first time as it prepares guidelines for how to recognise and tax it and other virtual currencies.
Page 5: Independent senator Nick Xenophon is calling for an urgent inquiry into the Chinese hacking of Parliament’s computer networks, saying the year-long intelligence breach was a national security scandal.
Page 6: Micro-party senators have defended their legitimacy amid calls by the major parties for an overhaul of the upper house voting system.
Page 11: Australia’s three most powerful industry lobby groups are calling for a dramatic overhaul of the approvals processes and environmental laws for resources projects.
Page 13: The government’s Direct Action climate policy could be subject to a High Court challenge if it tries to go ahead with funding projects without legislative backing.
Page 15: Iconic brands White Wings, Wonder White and MeadowLea could become consumer staples in Asia if Goodman Fielder and its shareholders convince $18 billion Singapore-based oils trader Wilmar International and Hong Kong investor First Pacific to sweeten a $1.8 billion takeover proposal.
Spotless Group chief executive Bruce Dixon says the company’s rapid turnaround is not too good to be true, as he chases $1.5 billion in new revenue and seeks to raise $1.1 billion in an initial public offering.
Page 17: The US company heading up the Leviathan gas venture in Israel has signalled that it will not hold up its own efforts to develop the giant resource waiting for Woodside Petroleum to complete its delayed entry into the project.
BHP shareholders say the mining giant should continue to be open to individual sales of its non-core assets as it works through its “Project River” demerger proposal that would lead to a suite of its second-tier mines being gifted to shareholders.
Page 21: M2 Group, which owns well-known telecommunications companies Dodo, iPrimus and Commander, on Monday announced plans to make about 150 workers redundant.
The Australian
Page 1: Families will lose access to taxpayer benefits under a hardline plan to slash budget spending as Tony Abbott signals a new income threshold of $100,000 to determine who gets “handouts” from Canberra.
Employers have warned that the Abbott government’s next wave of workplace policy changes threatened to lock in artificially inflated pay deals as a benchmark for future billion-dollar resources projects.
After weeks spent scouring the Indian Ocean without finding any trace of missing Malaysia Airlines flight MH370, Australia has committed itself to a $60 million search covering a massively expanded 60,000 square kilometres of sea floor.
Page 3: Victoria’s brown coal could power Toyota’s next-generation hybrid under a multi-billion-dollar plan being promoted by the carmaker and developed by Japanese industrial giant Kawasaki Heavy Industries.
Page 7: The concessional loans at the heart of the federal government’s $320 million emergency drought package have not been offered to farmers yet, two months after the relief was announced.
Page 17: Goodman Fielder is the latest Australian food manufacturer to attract the attention of foreign buyers, with Singaporean agribusiness giant Wilmar International lobbing a $1.27 billion joint-venture takeover bid more than two years after it snapped up 10.1 per cent of the company.
Page 19: Fresh from striking a $7.06 billion deal last week to buy Queensland Motorways, Transurban has announced it has agreed with the Victorian government to embark on $850 million worth of upgrades to Melbourne’s road network over two years.
The West Australian
Page 3: A WA beer maker whose motto is “brewed by fussy bastards” yesterday decided to dump more than 500,000 litres of beer after testers deemed it unworthy of shipment.
Page 6: Prime Minister Tony Abbott will enlist the help of the States to cut red tape and get new road and rail projects moving.
Farmers across the Wheatbelt cannot wipe the smiles from their faces at some of the best rains to start a grain-growing season in decades.
Page 11: Straddling a site of nearly 50,000sqm, The Arc is Burswood designer Shane O’Riley’s vision of an iconic development for Elizabeth Quay.
Western Australians would pay more to turn on air-conditioners and water gardens in the height of summer under plans backed by the Productivity Commission.
Page 13: Troy Buswell has broken his twomonth media silence, revealing he is now “back on deck fulltime” as member for Vasse.
Business: Acting Gindalbie Metals managing director Michael O’Neill says there has been no change in strategy at the miner despite a move to cut back its head office following the transfer of former boss Dale Harris to the company’s Karara Mining subsidiary.
Leederville-based dermatology technology company OBJ Limited has taken a major step towards commercialisation, inking a multimillion-dollar deal with the company behind brands such as Gillette, Duracell and Olay.
