19/08/2013 - 06:43

Morning Headlines

19/08/2013 - 06:43

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Morning Headlines

Rudd support sinks to record low

Voter support for Kevin Rudd has sunk to its lowest level on record, leaving Labor headed for a large election loss with Tony Abbott now virtually equal as preferred prime minister. The Aus

Abbott's $5.5bn baby bill

Economists and business groups have expressed alarm at the Coalition's $5.5 billion-a-year paid parental leave scheme, saying it will exacerbate the budget's structural decline and hamstring the companies that will be levied to partially fund the scheme. The Fin

Union unleashes $1m ad attack on 457 visas

The construction union will spend $ 1 million over the next two weeks on a national advertising campaign that portrays the Coalition as wanting to “massively expand” the 457 temporary visa program. The Aus

High costs risk to gas boom: Chevron

Australia's largest foreign investor as warned the future multi billion-dollar expansions of two huge liquefied natural gas projects in Western Australia hinge on bringing about a “structural change” to Australia's cost base. The Fin

Contamination bill stalls BHP sale

BHP Billiton is exploring the potential sale of its old Mount Goldsworthy iron ore project in the Pilbara to a company that plans to reopen the mine, but the deal could be stymied by revelations that BHP faces a potential $100 million clean- up bill after the discovery of acid contamination at the site. The Aus

Warning of long wait to grow Ord River scheme

The Chinese-backed company developing agricultural land near Kununurra has warned it may take until next decade to extend the Ord River irrigation scheme across the border into the Northern Territory. The West

Radical push to save our heritage

WA's biggest council is looking to impose some of the toughest heritage protection laws in the country in a bid to stamp out “demolition by neglect” in its suburbs. The West

WA cashes in on first home buyers' market

Western Australia's $3.4 billion mortgage book is forecast to generate more than $270 million of dividends in the next four years, earmarked to be reinvested in affordable housing measures. The Fin

 

The West Australian

Page 1: WA's biggest council is looking to impose some of the toughest heritage protection laws in the country in a bid to stamp out “demolition by neglect” in its suburbs.

Page 3: The Catholic Archdiocese of Perth has weighed in to the possible extension of Sunday trading hours in Perth, saying it could come at a big cost to society.

Page 4: Kevin Rudd has junked his promise to run a positive election, with Labor unleashing its biggest advertising blitz of the campaign warning voters will “lose” if Tony Abbott wins.

Page 5: Less than half of Tony Abbott's generous paid parental leave scheme will be funded through a levy on big business, leaving the coalition with no option but to cut deeper into the federal budget should it win government.

Page 10: Education Minister Peter Collier's financial management will come under the spotlight today when a powerful subcommittee of Cabinet runs a ruler over his department at an urgent meeting.

Page 12: High-profile Perth designer Ruth Tarvydas has revealed she is working on a new project and a restructure in a bid to save a key plank of her fashion empire.

Page 13: The Barnett government is bracing for a setback in its quest to develop a gas hub in the Kimberley ahead of a decision today on whether its environmental approvals for the contentious project were lawful.

Business: The Chinese-backed company developing agricultural land near Kununurra has warned it may take until next decade to extend the Ord River irrigation scheme across the border into the Northern Territory.

Investors seeking to recover millions of dollars in compensation from a Perth financial planning firm have been left marooned because the business was not adequately insured.

Pankaj and Radhika Oswal have welcomed an appeal court victory as “another forward step” in their “campaign for justice” over the loss of their fertiliser empire.

 

 

The Australian Financial Review

Page 1: Australia's largest foreign investor as warned the future multi billion-dollar expansions of two huge liquefied natural gas projects in Western Australia hinge on bringing about a “structural change” to Australia's cost base.

Economists and business groups have expressed alarm at the Coalition's $5.5 billion-a-year paid parental leave scheme, saying it will exacerbate the budget's structural decline and hamstring the companies that will be levied to partially fund the scheme.

Page 3: Western Australia's $3.4 billion mortgage book is forecast to generate more than $270 million of dividends in the next four years, earmarked to be reinvested in affordable housing measures.

Page 6: The construction union will launch on Monday a million-dollar nationwide advertising blitz using television, radio and print in marginal seats, attacking the Coalition's support for the 457 visa program for temporary skilled workers.

Page 7: Finance Minister Penny Wong says governments must make decisions on a central forecast rather than shift to publishing a range of forecasts for the economy and the budget bottom line.

Page 10: Uncertainty over the future of the carbon scheme has adversely affected investment decisions in nearly one in tow companies generally, and about 80 per cent in the clean energy sector.

Page 13: Commonwealth Bank of Australia will lift a freeze on executive salaries in the wake of its record annual profit, paving the way for pay increases for its senior managers.

Page 16: Parsons Brinkerhoff, the design arm of British contractor Balfour Beatty, is shifting design jobs back to Australia as a weaker dollar makes Australia more competitive.

 

The Australian

Page 1: Voter support for Kevin Rudd has sunk to its lowest level on record, leaving Labor headed for a large election loss with Tony Abbott now virtually equal as preferred prime minister.

Tony Abbott is risking a cost blowout on his flagship $5.5 billion parental leave policy by counting on the states to contribute to the scheme, amid business fears of a long-lasting tax to help fund it.

Page 2: Investors attracted to the low interest rates and high rents increasingly available in Australia’s capital cities have squeezed the proportion of first- home buyers in the housing market to a record low, analysts said.

Page 6: Labor's decision to give its preferences to the Greens makes it more likely that the minor party will hold the balance of power in the new Senate.

Page 7: The construction union will spend $ 1 million over the next two weeks on a national advertising campaign that portrays the Coalition as wanting to “massively expand” the 457 temporary visa program.

The construction union will spend $1 million over the next two weeks on a national advertising campaign that portrays the Coalition as wanting to “massively expand” the 457 temporary visa program.

Page 8: Kevin Rudd has claimed that Coalition cuts could plunge the nation into recession by next year as Labor released new attack ads last night, declaring of Tony Abbott: “If he wins, you lose”.

Business: BHP Billiton is exploring the potential sale of its old Mount Goldsworthy iron ore project in the Pilbara to a company that plans to reopen the mine, but the deal could be stymied by revelations that BHP faces a potential $100 million clean- up bill after the discovery of acid contamination at the site.

CSR is in negotiations to buy the brick and tile operations from its building materials rival Boral, according to sources with knowledge of the deal.

The Mirvac Group has beaten competition from its rival Lend Lease for the Harbourside shopping centre at Sydney’s Darling Harbour, with the $ 6 billion real estate company entering exclusive due diligence to purchase the property for a price thought to be less than $ 300 million.

Dexus Property Group is searching for a major backer in preparation for a possible $3 billion all- scrip bid for the Commonwealth Bank’s listed office landlord, according to sources.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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