22/04/2015 - 05:34

Morning Headlines

22/04/2015 - 05:34

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Morning Headlines

Labor’s $14b super hit to well-off

The well-off would lose $14 billion in superannuation tax concessions over the next decade under a new Labor policy that it says is needed to keep the system sustainable and restore equity. The Fin

Onerous green tape could kill Ord farm

A Chinese company developing farm land in the Ord River area has warned it will not proceed with the project under a raft of conditions set out by Australia’s environmental watchdog. The West

Network ‘will cope with rise of Netflix’

NBN Co chief technology officer Dennis Steiger says after an upgrade, its networks originally used to deliver cable television will be able to cope when demand for streaming services like Netflix, Stan and Presto accounts for half of peak capacity. The Fin

City left out of talks on Quay deals

Tensions have flared between the State’s planning authority and the City of Perth, with Lord Mayor Lisa Scaffidi unhappy at being excluded from “critical negotiations” over the Elizabeth Quay, Perth City Link and Riverside projects. The West

Coalition warned of catch-up on carbon

The Climate Change Authority is pressing the Abbott government to dramatically lift its 2020 emissions reduction target, as it recommended the nation take a 30 per cent cut by 2025 to the UN Paris climate change conference. The Aus

Rain, train blows don’t faze Rio

Mining giant Rio Tinto is determined to hit its aggressive sales target of 350 million tonnes of iron ore this year, despite wet weather and a train derailment slowing its output in the March quarter. The Fin

Leighton changes ticker to CIM after name vote

Leighton will switch its ticker symbol to ‘‘CIM’’ from ‘‘LEI’’ on the Australian Securities Exchange after 99.7 per cent of investors voted in favour of the name CIMIC, which stands for ‘‘Construction, Mining, Infrastructure and Concessions’’, at the company’s annual meeting in Sydney. The Fin

Dexus launches $450m raising

Diversified property giant Dexus Property Group has sent a signal to the market that the $9 billion Investa Office platform is in its sights, with the group yesterday launching a $450 million equity raising, just as first-round bids closed for the Morgan Stanley-controlled empire. The Aus

 

 

The Australian Financial Review

Page 1: The well-off would lose $14 billion in superannuation tax concessions over the next decade under a new Labor policy that it says is needed to keep the system sustainable and restore equity.

Contrite bank chief executives have admitted standards in the financial advice industry need to be repaired urgently and public confidence restored, with some pledging conditional support for an industry-wide victims compensation scheme.

Page 3: The Climate Change Authority has recommended Australia cut greenhouse gas emissions 30 per cent by 2025 – a significant increase on the current commitment of 5 per cent by the end of the decade that would likely hit big emitters such as electricity and aluminium production.

Page 5: The Reserve Bank of Australia continues to build the case for another official rate cut despite holding off two weeks ago because of worries about whether it would detract from confidence.

Page 7: Tax professionals have taken a swipe at the federal government for ‘‘pre-empting’’ the white paper process by announcing new policies before anybody has had a chance to make a submission.

Page 8: Health Minister Sussan Ley will appoint a taskforce to recommend improvements to the Medicare system, a move that will delay any changes following the failure of the government’s plan to reduce costs by charging some people $5 to visit the doctor.

Page 9: Western Australia is the latest jurisdiction to take action against the UberX ride-sharing service.

Page 13: Mining giant Rio Tinto is determined to hit its aggressive sales target of 350 million tonnes of iron ore this year, despite wet weather and a train derailment slowing its output in the March quarter.

Leighton will switch its ticker symbol to ‘‘CIM’’ from ‘‘LEI’’ on the Australian Securities Exchange after 99.7 per cent of investors voted in favour of the name CIMIC, which stands for ‘‘Construction, Mining, Infrastructure and Concessions’’, at the company’s annual meeting in Sydney.

Page 15: Singtel, the Singaporean parent of telecommunications giant Optus, has signalled the end of an era by announcing it will quit the Australian Securities Exchange next month in a move its chief corporate officer Jeann Low has promised is not a precursor to selling the company.

Page 16: Last week’s revelation that ANZ Bank will pay $30 million in compensation to thousands of customers who paid for financial advice but did not receive all the services promised has brought the need for an official inquiry into the conduct of advisers a step closer, argued the opposition spokesman on financial services and superannuation.

Page 18: NBN Co chief technology officer Dennis Steiger says after an upgrade, its networks originally used to deliver cable television will be able to cope when demand for streaming services like Netflix, Stan and Presto accounts for half of peak capacity.

 

 

The Australian

Page 3: The Climate Change Authority is pressing the Abbott government to dramatically lift its 2020 emissions reduction target, as it recommended the nation take a 30 per cent cut by 2025 to the UN Paris climate change conference.

Family First senator Bob Day has asked Tony Abbott and Industry Minister Ian Macfarlane to delay a vote to change the Renewable Energy Target for six months, until the conclusion of a Senate inquiry into wind turbines.

Page 19: The Reserve Bank has for the first time addressed “unusual trading” in the dollar before its recent interest rate decisions, blaming illiquid market conditions and computer generated trading rather than any misconduct or procedural lapses.

Page 20: Atlas Iron’s efforts to restructure its debt and stave off collapse will extend into another month.

Greater sharing of intelligence about cyber-attacks is needed to tackle an “increasingly pervasive” threat, information technology sector giants have declared.

Page 21: Leighton Holdings remains confident it will collect outstanding claims in the Middle East and on the troubled Gorgon Gas project in Western Australia as it asserts a more rigorous risk-management culture after yesterday confirming it would make a net profit of up to $520 million this year.

Page 22: Coca-Cola Amatil boss Alison Watkins has underlined her commitment to the bottler’s regional brewing aspirations by flying to Fiji this week to cut the ribbon on the company’s expanded brewery in Suva as it plans an aggressive export push for the South Pacific nation’s beer and rum brands.

Page 26: Diversified property giant Dexus Property Group has sent a signal to the market that the $9 billion Investa Office platform is in its sights, with the group yesterday launching a $450 million equity raising, just as first-round bids closed for the Morgan Stanley-controlled empire.

 

 

The West Australian

Page 1: The State Government has hit out at public housing tenants who intentionally damage taxpayer-funded homes after revelations of a record $12.7 million damage bill last year.

Page 9: The RAC has called on the State Government to update taxi regulations that restrict competition and innovation within the service, including ride-sharing companies such as Uber.

Page 11: Tensions have flared between the State’s planning authority and the City of Perth, with Lord Mayor Lisa Scaffidi unhappy at being excluded from “critical negotiations” over the Elizabeth Quay, Perth City Link and Riverside projects.

Page 17: The Federal Government has denied union claims that skilled migrants are pushing Australians out of jobs, with figures showing a big fall in the number of 457 visa holders currently working in WA.

Page 20: The scope of a planned $4.9 billion overhaul of a 1.5km stretch of the Cockburn coast will be revealed today when the first residential lots are released for sale.

Business: A Chinese company developing farm land in the Ord River area has warned it will not proceed with the project under a raft of conditions set out by Australia’s environmental watchdog.

Westpac’s new banking partnership with Australia Post has been criticised as yet another blow to WA regional services.

Cape Lambert Resources’ $US20 million investment in a Sierra Leone iron ore project has struck problems, signalling fresh worries for chairman Tony Sage.

Despite its recent price freefall, two Perth entrepreneurs will open WA’s first Bitcoin exchange this morning in an attempt to offer a quick and easy way of trading the online currency.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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