Morning Headlines

Barnett to bow out after WA’s 2017 election

Western Australian Premier Colin Barnett has confirmed he will not serve a full term as premier if his government is re-elected in 2017. The Fin

Trading frenzy over pot stock

Speculators have flocked to invest in the first medical marijuana stock to list on the ASX, which has more than doubled in price on its first day of trading. The Fin

ANZ sells $500m of ‘dim-sum’ bonds

ANZ Banking Group has become the first non-Chinese bank to issue regulatory capital in the Chinese yuan “dim sum” market issuing 2.5 billion yuan ($500 million) of Tier II bonds. The Fin

ASIC in push for access to data

The Australian Securities & Investments Commission has called on the government to expand the controversial data retention scheme to the corporate regulator, warning that without access to troves of customer metadata it will not be able to track down insider traders and white-collar criminals. The Aus

Edna May’s star turn in solid gold performance

Evolution Mining’s Edna May operation has emerged as the gold miner’s surprise star performer, after a big drop in costs made it the company’s biggest earner in the December quarter. The West

Red Gully reserves hike lifts Empire

Shares in Empire Oil and Gas jumped after the company emerged from a trading halt yesterday to announce an upgrade to its reserves at the Red Gully project near Gingin. The West

The Australian Financial Review

Page 1: The first major review of Australia’s workplace regulations in 30 years will question the purpose and effectiveness of industrial relations’ sacred cows: a high minimum wage, high penalty rates for weekend work and the complex system of industrial awards.

Page 3: Speculators have flocked to invest in the first medical marijuana stock to list on the ASX, which has more than doubled in price on its first day of trading.

Qantas Airways is under renewed pressure to reduce or eliminate fuel surcharges on its international network after rival Virgin Australia Holdings said it would no longer add a fuel surcharge for its flights to and from the United States.

Page 4: Australia is poised for an influx of second-tier Chinese airlines and increased flights from the major state-owned carriers under a new deal that could provide a major boost for the local tourism industry.

Page 6: Western Australian Premier Colin Barnett has confirmed he will not serve a full term as premier if his government is re-elected in 2017.

Page 11: New Skilled Group chief executive Angus McKay has insisted the labour hire firm does not have a for sale sign up after rejecting an offer from rival, Programmed Maintenance Services, but said talks with Programmed would be a “logical next step” if it raises its bid.

Amcor chief executive-elect Ron Delia has flagged further growth in emerging markets and a stronger focus on product innovation, saying the global packaging giant is in good shape but there is room for improvement.

Page 13: Origin Energy has been put on notice about a possible cut to its credit rating from Moody’s as the ratings agencies factor in the impact of a prolonged slump in crude oil prices.

Page 14: The addition of fruit and vegetable grower and distributor Costa Group to the 2015 float runway has boosted a modest local deal pipeline as investors prepare to more closely scrutinise issuance after a string of disappointing listings late last year.

Page 15: ANZ Banking Group has become the first non-Chinese bank to issue regulatory capital in the Chinese yuan “dim sum” market issuing 2.5 billion yuan ($500 million) of Tier II bonds.

Page 19: Australia’s newest streaming video on demand service, Stan, will launch on January 26, ahead of global rival Netflix.

The Australian

Page 1: Lowering or replacing the minimum wage, allowing penalty rates to be set at the enterprise level as well as changes to unfair dismissal and strike laws will be investigated by the Productivity Commission under a far-reaching review of the nation’s workplace relations system.

Page 3: The heat-weary locals of Marble Bar might need to lazily crank up the air-con a notch today, as the mercury nudges a scorching 50C.

Page 5: The Independent Commissioner Against Corruption in South Australia has vowed to pursue any evidence of corruption in an investigation into a land deal brokered by Labor Premier Jay Weatherill and Treasurer Tom Koutsantonis behind closed doors without going to tender.

Page 17: The Australian Securities & Investments Commission has called on the government to expand the controversial data retention scheme to the corporate regulator, warning that without access to troves of customer metadata it will not be able to track down insider traders and white-collar criminals.

Skilled Group’s new chief executive claims the labour hire company has not put up a “for sale sign” after rejecting a $700 million merger offer from rival Programmed Group.

Page 18: BHP Billiton is expected to wipe $US2 billion ($2.5bn) from its US shale capital budget next financial year and log its first oil and gas production drop in a decade after sliding oil prices led it to remove 40 per cent of its onshore drill rigs.

Page 20: Financial services group Perpetual’s long haul out from the woes of the nadir year 2011 continued yesterday with news the group attracted $1.6 billion in new funds to manage in the December half of 2015, the highest inflow in a decade.

Page 23: A push by Perth Airport to be removed as a major international gateway has been given short shrift by the federal government.

The West Australian

Page 3: An end to weekend penalty rates and varying the minimum wage across States are among a raft of radical changes to Australia’s workplace relations system going before a national inquiry.

Page 6: Specialist domestic violence courts will be axed by the State Government because they have failed to reduce rates of re-offending and protect victims.

Page 11: Perth consumers are paying much more than Eastern States diners to eat the same things at national food chains, but experts say we’ve only got ourselves to blame.

Page 14: Colin Barnett has confirmed he will not see out the next term if re-elected in 2017, paving the way for jockeying among potential successors and accusations from the Opposition of instability.

Page 30: The RAC wants the proposed $109-a-year cost of adopting a no-fault third-party insurance system in WA reduced, saying it has “genuine concerns” the fee does not reflect the true cost of such a scheme.

Business: The crisis in mining services has claimed its first victim of the year with the departure of Macmahon Holdings managing director Ross Carroll, as the moribund contractor faces further shake-ups.

Channel 7’s blanket coverage of the Australian Open, on two free-to-air networks and online, has paid huge audience dividends.

Evolution Mining’s Edna May operation has emerged as the gold miner’s surprise star performer, after a big drop in costs made it the company’s biggest earner in the December quarter.

Shares in Empire Oil and Gas jumped after the company emerged from a trading halt yesterday to announce an upgrade to its reserves at the Red Gully project near Gingin.

Ride-sharing service Uber has raised $US1.6 billion ($1.98 billion) in a deal with Goldman Sachs wealth management clients.