Morning Headlines

Griffin workers face pay pain

Griffin Coal says it has a radical three-pronged strategy which it believes will turn around the fortunes of its loss-making Collie mine before the end of the year. The West

Caltex eyes franking credits

Chevron’s decision to sell its 50 per cent stake in Caltex Australia will make it easier for the local fuel supplier to release franking credits to shareholders, Caltex CFO Simon Hepworth says. The Fin

Fortescue pins hopes on China’s growth

Fortescue Metals Group has welcomed the Chinese leadership’s latest commitment to strong economic growth, while downplaying the prediction of a major customer and partner that the iron ore bear market will continue a further four to five years. The Aus

Hockey opens up tax reform

The Abbott government has thrown open the doors to a broad ranging debate on tax reform – from changing the rate and base of the goods and services tax to increasing capital gains tax, reducing superannuation concessions, removing dividend imputation, and dealing with bracket creep by indexing income tax thresholds. The Fin

Schools target China’s $53b market

A Perth-based private school believes the market for education services in China is bigger than iron ore, as Australian schools increasingly look to the world’s second-biggest economy to supplement federal government grants. The Fin

Telstra raises data limits

Telstra has more than doubled its download data allowances on some plans and will give new customers free subscriptions to Foxtel’s streaming video service Presto ahead of the launch of Samsung’s Galaxy S6. The Fin

The Australian Financial Review

Page 1: The Abbott government has thrown open the doors to a broad ranging debate on tax reform – from changing the rate and base of the goods and services tax to increasing capital gains tax, reducing superannuation concessions, removing dividend imputation, and dealing with bracket creep by indexing income tax thresholds.

Page 3: A Perth-based private school believes the market for education services in China is bigger than iron ore, as Australian schools increasingly look to the world’s second-biggest economy to supplement federal government grants.

Page 4: Australia is set for a tense round of negotiations on the design of China’s new $US100 billion ($128.9 billion) Asian infrastructure bank as other member countries have already rejected Canberra’s call for a hands-on board of directors.

Page 7: The coal seam gas industry is urging NSW Premier Mike Baird not to buckle to pressure from environmentalists despite a Greens-led backlash that appears to have cost the Coalition two seats at Saturday’s election.

Page 17: Chevron’s decision to sell its 50 per cent stake in Caltex Australia will make it easier for the local fuel supplier to release franking credits to shareholders, Caltex CFO Simon Hepworth says.

Page 19: Fortescue Metals Group chief executive Nev Power says he will be ‘‘very surprised’’ if the competition regulator pushes ahead with an investigation into chairman Andrew Forrest’s call for the big iron ore players to cap production.

Page 22: Telstra has more than doubled its download data allowances on some plans and will give new customers free subscriptions to Foxtel’s streaming video service Presto ahead of the launch of Samsung’s Galaxy S6.

The Australian

Page 2: The Abbott government is facing internal pressure to agree to a compromise on the renewable energy target as business demands an immediate resolution to an impasse that is threatening renewables projects and jobs in energy-intensive industries.

Page 4: Richer Australians are getting the greatest benefit from tax breaks on superannuation, according to early findings in the federal government’s tax review, putting the fairness of the rules on the agenda for the next term of parliament.

Tax breaks on housing are probably pushing up prices for investors and home buyers, according to a new government paper that reignites a debate over the practice of “negative gearing” to lose money on investment properties.

Page 19: Bain Capital is preparing to launch the $2.8 billion initial public offering of its accounting software firm, MYOB, as early as Tuesday in what is likely to rank as the largest float of the year.

Australia’s “dividend imputation” company tax system might be radically restructured or even ditched in a bid to curb complexity and erase damaging distortions that encourage households and businesses to invest too much at home.

Fortescue Metals Group has welcomed the Chinese leadership’s latest commitment to strong economic growth, while downplaying the prediction of a major customer and partner that the iron ore bear market will continue a further four to five years.

Page 20: The unprecedented growth in Chinese steel production that underpinned Australia’s iron ore boom of the past decade could be over, with early signs this year’s production will fall for the first time in three decades.

Page 23: The federal government may ignore a recommendation of its own Financial System Inquiry and push ahead with plans for a tax on bank deposits, which could raise $500 million, as it seeks to offset national debt.

The West Australian

Page 3: Police Commissioner Karl O’Callaghan has backed State Government plans to withdraw funding from some remote Aboriginal communities, claiming children needed to be saved from an endless cycle of sexual abuse.

The Federal Government has moved to stop a politically dangerous debate on increasing the GST ahead of the next election, using its tax White Paper to effectively kill the idea.

Page 9: The $1.3 billion native title deal between the State Government and Noongar people is expected to go ahead after meetings in the South West and Perth voted in favour of the landmark agreement.

Page 10: Autumn and winter rainfall in WA could halve over the next 80 years, according to a new report warning climate change will worsen drought conditions.

Page 12: Perth’s elite independent schools are spending millions of dollars a year on upgrades to decades-old classrooms and sports facilities to help them attract students.

Business: Griffin Coal says it has a radical three-pronged strategy which it believes will turn around the fortunes of its loss-making Collie mine before the end of the year.

CurrencyFair is set to raise several million dollars in a bid to almost double its global workforce and stage a marketing campaign exposing bank rip-offs.

Bounce Inc is set to become a franchised operation, with the company putting four of its seven venues on the market as part of global expansion plans.