12/05/2014 - 05:37

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12/05/2014 - 05:37

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Budget chop for 50 agencies The federal budget will abolish or merge another 50 government agencies, sell four key assets including the Royal Australian Mint, and oversee the demise of 16,000 jobs in the Commonwealth public service. The Fin

Budget chop for 50 agencies

The federal budget will abolish or merge another 50 government agencies, sell four key assets including the Royal Australian Mint, and oversee the demise of 16,000 jobs in the Commonwealth public service. The Fin

Patients face $7.50 fee for ‘unnecessary’ visits to emergency

Patients who go to State Government-run hospitals with minor ailments will be stung with a $7.50 co-payment under an Abbott Government Budget plan to ensure no one escapes the so-called GP tax. The West

Eight more schools on building list

The State Government’s $1.16 billion education capital works program includes $379 million to build four primary schools a year for the next four years and three high schools. The West

China sidesteps big iron ore suppliers with Aquila pursuit

China’s $1.4 billion move on Aquila Resources is a continuation of the Asian giant’s push to secure raw materials outside of the dominant iron ore suppliers, according to an industry expert. The Aus

QCG to test nickel lovers with $60m public offer

QCG Resources will test the Australian market’s rediscovered appetite for nickel stocks with a $60 million initial public offering after its April purchase of the mothballed Avebury nickel mine in Tasmania. The West

Iron ore price slump rings federal budget alarm bells

The single most important indicator of the underlying health of federal budget revenues – the iron ore price – has collapsed to its lowest level in almost 18 months. The Fin

Abbott puts the freeze on MPs’ pay rise

Federal MPs were in line for a pay rise that could have given them 10 times the amount they paid under the deficit levy — before the last-minute decision by Tony Abbott to freeze their wages. The Aus

 

 

The Australian Financial Review

Page 1: The federal budget will abolish or merge another 50 government agencies, sell four key assets including the Royal Australian Mint, and oversee the demise of 16,000 jobs in the Commonwealth public service.

Industry superannuation fund Cbus allegedly leaked the private financial details and home addresses of hundreds of non-union workers to the militant construction union as part of an industrial campaign.

Page 3: Australians are living in the most expensive G20 economy in the world.

Page 4: Business leaders say they fear a tough budget this week will further erode consumer confidence and damage the economy, but are divided on government’s deficit tax.

Page 5: The single most important indicator of the underlying health of federal budget revenues – the iron ore price – has collapsed to its lowest level in almost 18 months.

Iron ore price slump rings federal budget alarm bells.

Page 11: As federal Education Minister, Christopher Pyne prepares to launch the biggest reforms to Australia’s universities in 25 years in Tuesday’s budget, the broad picture of the changes is already known.

Page 13: Australia’s two biggest banks are urging the government to push ahead with its controversial plan to roll back part of Labor’s financial advice reforms, claiming the current rules will make advice too costly for many households.

Page 18: A fourth Spaniard has joined Leighton Holdings’ management team as head of mergers and acquisitions, as controlling shareholder Hochtief prepares to restructure the contractor after its $1.2 billion takeover bid closed on Friday.

 

 

The Australian

Page 1: More than 70 government agencies will be scrapped or merged in a budget plan to eliminate waste as Tony Abbott seeks to demonstrate big cuts to spending amid a political row over rising taxes.

Page 2: The ALP should be forced to establish a federal corruption commission to weed out fraudulent politicians and lobbyists, according to one of Australia’s most senior union leaders.

Page 4: Federal MPs were in line for a pay rise that could have given them 10 times the amount they paid under the deficit levy — before the last-minute decision by Tony Abbott to freeze their wages.

Page 15: Bechtel Australia, the biggest shareholder in Nexus Energy, has questioned Seven Group chief executive Don Voelte on his performance as Nexus chairman in the lead-up to his resignation and Seven’s subsequent bid.

China’s $1.4 billion move on Aquila Resources is a continuation of the Asian giant’s push to secure raw materials outside of the dominant iron ore suppliers, according to an industry expert.

Page 16: Rio Tinto’s much-maligned aluminium business could be a surprise saving grace for the miner as iron ore prices soften, with the company’s cost-cutting drive set to produce strong cash-flows and boost the chance of big returns to shareholders.

Page 17: Investors will this week be focused on the Coalition’s delivery of its first budget, with tax hikes for high earners and tougher welfare measures likely to crimp the earnings outlook for discretionary stocks.

Page 20: More than 30 regional Fairfax Media newspapers, including the Illawarra Mercury, are under review for possible closure as the company continues a series of aggressive cost-cutting measures that could affect local communities and threaten the quality of the company’s journalism.

 

 

 

The West Australian

Page 1: Patients who go to State Government-run hospitals with minor ailments will be stung with a $7.50 co-payment under an Abbott Government Budget plan to ensure no one escapes the so-called GP tax.

Page 3: Water pressure to thousands of Perth homes will be cut as part of a $120 million plan to reduce bursts and leaks in the Water Corporation’s ageing pipe network over the next 20 years.

Page 4: Treasurer Mike Nahan says WA’s contribution towards the $1.6 billion Perth Freight Link connecting the airport to the Fremantle Port will likely come from the sale of State assets.

Page 6: The Royal Australian Mint will be sold to the private sector, a string of agencies axed and others merged in a Budget plan to save taxpayers $500 million.

Page 8: Illegal market garden workers arrested in Perth last week were owed up to $10,000 each in unpaid wages, despite their employers allegedly making millions off the back of their clandestine labour force.

Page 11: Perth mayors will today confront Local Government Minister Tony Simpson with warnings they may have to sell assets, cut services and raise rates to fund looming amalgamations and boundary changes.

Page 13: Former prime minister Kevin Rudd will front a royal commission this week to answer questions about Labor’s home insulation debacle and whether he heeded warnings from a Cabinet colleague.

Page 14: Popular city shopping strip King Street has had 12 months in the doldrums as rent increases and the influx of high-end luxury boutiques forced some independent retailers to either shut shop or move to other suburbs.

Page 16: The State Government’s $1.16 billion education capital works program includes $379 million to build four primary schools a year for the next four years and three high schools.

Business: QCG Resources will test the Australian market’s rediscovered appetite for nickel stocks with a $60 million initial public offering after its April purchase of the mothballed Avebury nickel mine in Tasmania.

The axe has again fallen at Asia Iron only months after a dramatic shake-up that led to the departure of the bulk of its staff and long-term senior management.

 

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