30/04/2014 - 06:09

Morning Headlines

30/04/2014 - 06:09

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Morning Headlines

Families facing $50bn tax hit

Millions of middle-Australian families will share the burden of returning the budget to surplus as new figures show the combined impact of the federal government’s looming tax hikes and benefit cuts could top $50 billion over the next four years. The Aus

China vies for Harvey Beef

Chinese interests have entered the race for the State’s biggest beef producer in a move that could see WA-based Craig Mostyn Group pipped at the post after months of sale negotiations. The West

Abbott tax hike shocks Liberals

The federal government’s proposed deficit tax is likely to spare those earning up to $100,000, but has infuriated the Coalition’s support base and spread angst throughout the ministry and backbench. The Fin

Pressure to lift Goodman bid as stock jumps

Wilmar International and First Pacific are under pressure to lift their $1.8 billion offer for Goodman Fielder after shares in the consumer foods giant exceeded the offer price in heavy trading on Tuesday. The Fin

Buswell ordered off road for a year

Former transport minister Troy Buswell could have to apply for an extraordinary driver’s licence to get to and from his South West electorate after he was disqualified from driving for a year and fined $3100 yesterday. The West

Brake on fuel sees Coles suffer

Supermarket chain Coles has posted its slowest quarterly sales growth in almost two years, after making a deal with the competition regulator to stop luring customers with hefty fuel discount vouchers. The Aus

Northern Star finds it’s good to be gold

Northern Star Resources’ new life as a mid-tier goldminer has got off to a promising start, notwithstanding some teething issues at the three goldmines acquired in recent months. The Aus

Liberals win three Senate seats in WA election re-run

As expected, the Australian Electoral Commission said yesterday that Linda Reynolds had won the sixth Senate spot, seeing the Liberal Party snare three of the six available seats. The West

 

 

The Australian Financial Review

Page 1: The federal government’s proposed deficit tax is likely to spare those earning up to $100,000, but has infuriated the Coalition’s support base and spread angst throughout the ministry and backbench.

Wesfarmers managing director Richard Goyder has dismissed concerns that the days of above-average growth at supermarket giant Coles are over, despite retail sales growth at the conglomerate falling short of forecasts.

Page 3: The International Olympic Committee will struggle to reap more than $200 million for the Australian broadcast rights to the next three Olympic Games, with Kerry Stokes’s Seven West Media the only local television company to lodge an expression of interest.

Page 5: Nationals deputy leader Barnaby Joyce has predicted the paid parental leave scheme will fail to pass the Senate as Tony Abbott warned dissident Coalition senators that his signature policy had been taken to the past two elections and to dump it now would be to break a promise.

Page 7: One in four taxpayers could be hit by a temporary deficit levy that would raise almost $10 billion and lift top marginal tax rates to almost 50 per cent.

Page 12: A new report has urged governments to charge fees to high-income students in public schools in an effort to restrain the sharp rise in education spending.

Page 15: Wilmar International and First Pacific are under pressure to lift their $1.8 billion offer for Goodman Fielder after shares in the consumer foods giant exceeded the offer price in heavy trading on Tuesday.

Page 17: Echo Entertainment Group chief executive Matt Bekier says the casino operator’s newest recruit, former Crown Resorts executive Greg Hawkins, will be charged with the task of improving its offering for domestic punters, who are the group’s core customers.

Page 20: Wesfarmers’ chief executive Richard Goyder is predicting further falls in coal prices for the June quarter, but says the group is in the commodity for the long run, after posting a strong March quarter production result for its two Australian coal mines.

 

 

The Australian

Page 1: Millions of middle-Australian families will share the burden of returning the budget to surplus as new figures show the combined impact of the federal government’s looming tax hikes and benefit cuts could top $50 billion over the next four years.

Page 4: Spending cuts recommended by the audit commission are not unduly tough and any temporary deficit levy will still damage the incentive to work, economists say.

Page 6: A loophole has been exploited to effectively reverse the extinguishment of native title for land bought by the Indigenous Land Corporation.

Page 19: Supermarket chain Coles has posted its slowest quarterly sales growth in almost two years, after making a deal with the competition regulator to stop luring customers with hefty fuel discount vouchers.

Page 20: Northern Star Resources’ new life as a mid-tier goldminer has got off to a promising start, notwithstanding some teething issues at the three goldmines acquired in recent months.

Page 21: Australia’s Future Fund is inching closer to the magic $100 billion figure, yesterday reporting that it now has a total of $97.57bn under management.

Page 29: A former head of school and member of Curtin University’s academic board has stood aside after questions were raised over potential plagiarism claims.

 

 

The West Australian

Page 4: As expected, the Australian Electoral Commission said yesterday that Linda Reynolds had won the sixth Senate spot, seeing the Liberal Party snare three of the six available seats.

Page 9: Transport Minister Dean Nalder says next week’s Budget will include money for additional upgrades to the Coalfields Highway after another fatality yesterday on one of WA’s most deadly stretches of road.

The State Government will spend just $500,000 over four years on supporting grandparents who are the primary carers of their grandchildren, despite promising $5.3 million over the same period in the lead-up to the State Election.

Page 12: Former transport minister Troy Buswell could have to apply for an extraordinary driver’s licence to get to and from his South West electorate after he was disqualified from driving for a year and fined $3100 yesterday.

Page 17: Children from high-income families should pay compulsory fees to attend public schools, a conservative think tank has recommended.

Business: Chinese interests have entered the race for the State’s biggest beef producer in a move that could see WA-based Craig Mostyn Group pipped at the post after months of sale negotiations.

Western Areas has moved to take advantage of a surging nickel market and ongoing speculation about a sale of BHP Billiton’s Nickel West assets by closing out its off-take agreement with China’s Jinchuan Group two months early.

A surge in demand for so-called “pay day” loans has driven Cash Converters’ quarterly revenues significantly higher.

Google claims cars it is programming to drive themselves have started to master the navigation of city streets and the challenges they bring — from jaywalkers to weaving bicyclists, a critical milestone for any commercially available self-driving technology.

Canada’s Barrick Gold and US giant Newmont are playing the blame game after merger talks between the world’s two biggest gold producers collapsed.

 

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