Morning Headlines

Utility looks to axe 300 workers

Ten per cent of the Water Corporation’s 3000-strong workforce face the axe as the utility deals with cuts to its capital works program and State Government subsidy. The West

Welfare systems face $1bn upgrade

Federal cabinet is considering a $1 billion plan to replace the 1980s-era Centrelink computer system amid warnings it has become an impediment to the sweeping welfare overhaul designed to ease pressure on the fastest-growing area of government spending. The Aus

Telstra struggles to hit savings target

Telstra is facing an uphill battle to hit its target of $1 billion of productivity benefits this financial year as the telco’s simplification drive becomes a harder path to traverse. The Aus

$500m into our greener pastures

China’s growing agricultural production is not sustainable, said the head of its largest private food company, and it will increasingly look to Australia for red meat, milk and grain supplies. The Fin

GST’s long-term viability queried

Treasurer Joe Hockey has questioned whether company tax and the GST will still exist in 30 years because of the twin threats posed by the rise of the digital economy and multinational tax avoidance. The Fin

Tension test for cattle trade

A high-ranking Indonesian official has revealed plans to reduce reliance on Australian cattle imports amid diplomatic tension over the pending executions of drug smugglers Andrew Chan and Myuran Sukumaran. The West

The Australian Financial Review

Page 1: Four leading business groups have called on NSW Labor to drop its opposition to NSW Premier Mike Baird’s proposed $13 billion electricity network sale, warning that its defeat at this month’s state election could derail the national policy reform agenda.

One of the world’s leading hedge fund managers has warned that economies dependent on China for income, including Australia, are headed for recession, and central banks will not be able to come to the rescue because they have exhausted the arsenal of policy weapons.

Page 3: Small businesses are entitled to be frustrated by the complexity of the modern award system, with the margin for error by employers ‘‘still very high’’, the national workplace regulator says.

China’s growing agricultural production is not sustainable, said the head of its largest private food company, and it will increasingly look to Australia for red meat, milk and grain supplies.

Page 5: Treasurer Joe Hockey has questioned whether company tax and the GST will still exist in 30 years because of the twin threats posed by the rise of the digital economy and multinational tax avoidance.

Page 11: Federal Education Minister Christopher Pyne is playing a ‘‘silly political game’’ in threatening not to fund the $150 million a year running costs of Australia’s key scientific research infrastructure until the Senate passes his higher education legislation, according to Mark Dodgson of the University of Queensland Business School.

Page 13: ACCC chairman Rod Sims says Woolworths has one of the highest profit margins of any large supermarket chain in the world.

Page 15: Outgoing Beach Energy managing director Reg Nelson has blasted politicians for the developing gas crisis in eastern Australia, saying their lack of leadership has failed to prevent the debate being hijacked by anti-fossil fuel activists.

The Australian

Page 1: Federal cabinet is considering a $1 billion plan to replace the 1980s-era Centrelink computer system amid warnings it has become an impediment to the sweeping welfare overhaul designed to ease pressure on the fastest-growing area of government spending.

Page 6: Onerous and unjustified regulations in key markets on major agricultural commodities are costing Australian exporters up to $7 billion despite free-trade agreements signed with countries such as China, South Korea and Japan.

A couple can enjoy a “comfortable retirement” lifestyle, earn more than $58,000 a year and still claim a reasonable part pension to supplement their income while retaining access to a number of additional schemes to help cover energy and accommodation costs.

Page 17: A wave of global energy acquisitions spurred by low oil prices could start within months, according to a study by global management consultants AT Kearney.

Telstra is facing an uphill battle to hit its target of $1 billion of productivity benefits this financial year as the telco’s simplification drive becomes a harder path to traverse.

Page 18: Iron ore prices continue to slide as supply floods the market, with the steelmaking ingredient hitting new six-year lows.

Page 19: As oil prices steadily climbed over the past 15 years, it was no coincidence that operators began to splurge on increasingly costly and more complex platforms and equipment.

Journalists and their sources could be tracked down in witch hunts reminiscent of the Stalin era under the new metadata legislation, Australia’s most powerful media bosses have warned.

The Australian Financial Review

Page 1: Ten per cent of the Water Corporation’s 3000-strong workforce face the axe as the utility deals with cuts to its capital works program and State Government subsidy.

Page 3: The operators of Perth Airport have warned that pressure for a night curfew would become overwhelming — resulting in higher ticket prices — if the State Government continued to approve new housing developments under the runway flight paths.

Page 5: Financial details of the deal that secured the construction of a Westin Hotel at WA’s former firefighting headquarters can now be revealed.

Page 6: The Information Commissioner has ruled that a highly sensitive Department of the Premier and Cabinet report into how senior public servants dealt with the fallout of Troy Buswell’s driving affair should be released to the Opposition.

Page 11: Former lands minister Brendon Grylls has backed pastoralists at war with the State Government over tourism development and management of the Ningaloo coast.

Business: A high-ranking Indonesian official has revealed plans to reduce reliance on Australian cattle imports amid diplomatic tension over the pending executions of drug smugglers Andrew Chan and Myuran Sukumaran.

Alcoa’s 4000-plus workers in WA face an uncertain future after the US aluminium giant launched another round of “aggressive” cost cutting and warned that smelters and refineries were likely to be shut or sold.

Iron ore is in the doldrums but that should not take the gloss off Rio Tinto’s latest discovery at its Yandicoogina operation in the Pilbara.