28/08/2013 - 06:51

Morning Headlines

28/08/2013 - 06:51

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Morning Headlines

Abbott's baby boosts budget

The Coalition will today counter Kevin Rudd’s most potent political attack by releasing official Parliamentary Budget Office costings that show Tony Abbott’s controversial paid parental leave scheme will actually make money for the budget over the next four years. The Aus

Hockey scrambles on budget

The Coalition will claim abolishing the carbon tax will save the budget $5.6 billion over four years because business and energy market compensation will also be scrapped. The Fin

PM slams Abbott as not fit for diplomacy

Kevin Rudd has attacked Tony Abbott’s character, questioning whether he has the temperament and judgement to handle international crises such as the human rights atrocities in Syria. The Aus

Maritime union in cash splash to win seat

The militant Maritime Union of Australia will plunge more than $250,000 into Labor's campaign for the Perth seat of Hasluck over the next 10 days despite the Liberal Party being increasingly confident it will retain the marginal seat. The West

Grylls to prioritise lake talks

Regional Development Minister Brendon Grylls will make it a priority to discuss lifting Lake Argyle's capacity by 10 times the volume of Syndey Harbour with traditional land owners after giving the plan in-principle support. The West

Funds in legal row over stake in airport

Two of Australia’s biggest retirement funds are preparing for a legal battle after AustralianSuper took court action to discover dealings behind the Future Fund’s purchase of a stake in Perth airport. The Aus

Voelte confident of Seven's position

New Seven Group Holdings chief executive Don Voelte says he does not intend to draw on his turnaround skills at the mining equipment and media conglomerate, despite warning earnings are set to fall heavily this financial year as difficult conditions in the mining sector continue. The Fin

Smiths Beach jewel, with resort potential, for sale

Receivers KordaMentha have negotiated the final subdivision terms for the controversial Smiths Beach development at a State Administrative Tribunal mediation and are kickstarting another sales campaign, this time with more planning certainty after the first campaign failed to secure a buyer. The West

 

The West Australian

Page 1: Essendon have become the first club in history to be kicked out of the finals by the AFL and coach James Hird has been banned for 12 months after two days of negotiations ended last night with the Bombers found guilty of bringing the game into disrepute.

Page 8: Labor has promised to tackle one of the most dividing issues surrounding the future of farming by conducting a comprehensive stocktake of foreign ownership of agricultural land if re-elected.

Page 9: The militant Maritime Union of Australia will plunge more than $250,000 into Labor's campaign for the Perth seat of Hasluck over the next 10 days despite the Liberal Party being increasingly confident it will retain the marginal seat.

Page 11: Joe Hockey could face a $25 billion budget blowout as he walks into Treasury, independent analysis suggests, putting fresh question marks over the coalitions plan to deliver big surpluses.

Page 18: WA Museum laboratories, which identifies dozens of new species a year, will be given a $17.5 million upgrade ahead of the construction of the new city showcase.

Page 19: The architect of the school funding model the state government will adopt in 2015 has raised concerns that schools would struggle to introduce the planned reforms of jobs and resources were slashed at the same time.

Page 26: Getting a full-time job proved more difficult for graduates of Curtin and Edith Cowan universities, according to the Good Universities Guide 2014.

Page 28: Parts of mining magnate Andrew Forrest's plans to renovate his heritage-listed Cottesloe mansion have been labelled “overpowering” by the town council's deputy mayor.

Business: Regional Development Minister Brendon Grylls will make it a priority to discuss lifting Lake Argyle's capacity by 10 times the volume of Syndey Harbour with traditional land owners after giving the plan in-principle support.

Western Areas managing director Dan Lougher says it was a “difficult decision” to break the company's run of dividend payments, but with a major debt repayment looming next year its board believed holding back cash was prudent.

Seven Group Holdings boss Don Voelte is confident its machinery business will revert to growth trends of the past decade despite the bubble which drove earnings to record heights bursting.

The leaders of Civmec have dismissed the predominant view the industry is in a slump.

The corporate watchdog has urged investors and directors to exercise caution around offshore incorporated companies tapping Australian capital for projects in emerging markets.

Receivers KordaMentha have negotiated the final subdivision terms for the controversial Smiths Beach development at a State Administrative Tribunal mediation and are kickstarting another sales campaign, this time with more planning certainty after the first campaign failed to secure a buyer.

 

 

The Australian Financial Review

Page 1: The Coalition will claim abolishing the carbon tax will save the budget $5.6 billion over four years because business and energy market compensation will also be scrapped.

Western allies have lined up in support of action against Syria after the Obama administration declared it was convinced that the Bashar al-Assad regime had used chemical weapons against civilians.

Page 3: Essendon is set to be excluded from this year's AFL finals, be fined $2 million and stripped of some future draft picks as part of a deal to end its involvement in the supplements scandal that has plunged the code into crisis.

Page 4: Labor heavyweights believe Kevin Rudd has lost his confidence and, unless he regains it quickly, the party has no hope of victory on September 7.

Page 6: Coles and Woolworths may have to sign standard form contracts with their primary producers and suppliers under a Labor plan to give farmers better business protection.

Page 7: The Coalition's paid parental leave scheme is superior to Labor's but lacks detail about its implementation, but the Rudd government has better childcare policies, according to 30 leading work and family researchers.

Page 8: The Master Builders Association has renewed a push to re-establish the Australian Building and Construction Commission, claiming it would deliver $7.5 billion in benefits for consumers.

Page 9: The Australian government has taken an optimistic approach to the long-term economic opportunities in Asia in a series of strategy papers quietly released during the election campaing despite the recent emerging market turbulence.

Page 13: New Seven Group Holdings chief executive Don Voelte says he does not intend to draw on his turnaround skills at the mining equipment and media conglomerate, despite warning earnings are set to fall heavily this financial year as difficult conditions in the mining sector continue.

Page 15: Struggling surfwear retailer Billabong has cleared the decks ahead of a change of control, slashing the value of its once iconic brand to zero and preparing the ground for more restructuring as rival private equity firms jostle for position.

 

 

The Australian

Page 1 : The Coalition will today counter Kevin Rudd’s most potent political attack by releasing official Parliamentary Budget Office costings that show Tony Abbott’s controversial paid parental leave scheme will actually make money for the budget over the next four years.

Page 4: The pre-eminence of traditional subjects is supported by the custodian of the national curriculum, who says the push f or “21st-century skills’’ has come from industry, concerned that school-leavers aren’t ready for the workplace.

Page 5: An Abbott government would retain the fundamentals of Labor’s childcare reforms, a softening of its rhetoric of the last three years attacking the National Quality Framework.

Tony Abbott will announce a $5 million funding commitment to the Jawun Empowered Communities Initiative in Sydney today backing a radical plan devised by indigenous leader Noel Pearson to improve governance in indigenous communities.

University students could hold the key to several key marginal seats, with numbers of new students growing by 50 per cent or more since 2007 in five electorates held by Labor and three by the Coalition.

The Coalition will provide a $200 voucher to all couples when they register their ‘‘intention to marry’’ — and that includes gay couples even though it isn’t legal for them to get married.

Page 6: Kevin Rudd has attacked Tony Abbott’s character, questioning whether he has the temperament and judgement to handle international crises such as the human rights atrocities in Syria.

Page 7: Labor has attacked as a counter-productive cash splash Tony Abbott’s plan to spend $75 million in bonuses to get the young off the dole and into a job for at least two years.

The Coalition is casting a cloud over the budget by ruling out an increase in the overall tax burden as economists warn that stronger revenue will be needed to repair the nation’s finances.

Business: Billabong chairman Ian Pollard has indicated the surfwear group is unlikely to accept a last-minute recapitalisation deal from US private equity funds Centerbridge and Oaktree after the company revealed an annual loss of more than three times its own market valuation.

Independent directors have destroyed shareholders’ wealth and contributed to skyrocketing pay for poorly performing chief executives while enriching themselves, a landmark study has found.

The Coalition’s planned cut to the corporate tax could unleash a wave of capital returns to investors as companies look to avoid a resultant writedown to franking credit balances.

Seven Group chief executive Don Voelte will look to take advantage of the company’s strong balance sheet with strategic asset purchases, but cautious comments about the outlook for the mining sector have disappointed investors.

Nickel miner Western Areas has been punished by investors after its earnings fell short of expectations, with low nickel prices and a substantial writedown pushing the group to a headline loss.

Mirvac Group has moved to play down talk of ongoing tensions between the company’s directors and outgoing chairman James MacKenzie after it emerged that the property trust has been investigating its taxation treatment of the fringe benefits he received.

Corporate insolvencies are at record highs as the mining boom continues to unravel, leaving other sectors exposed in conditions almost as bad as the global financial crisis.

Two of Australia’s biggest retirement funds are preparing for a legal battle after AustralianSuper took court action to discover dealings behind the Future Fund’s purchase of a stake in Perth Airport.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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