01/10/2015 - 06:47

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01/10/2015 - 06:47

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Morrison sympathetic on ‘absurdity’ of WA’s consumption tax share

Treasurer Scott Morrison has declared his sympathy for WA over the “absurdity” of the GST distribution system and has hinted the State might get extra financial help as it transitions from the construction phase of the mining boom. The West

Labor shift on China trade row

The political impasse over the China trade deal could soon be broken, with Labor shifting its position to enable the protection of local jobs while leaving the deal untouched and allowing both the government and Beijing to save face. The Fin

Telstra set to take on mobile upstarts

Telstra chief executive Andy Penn has stared down his global mobile rivals and warned investors that he’s willing to sacrifice profit margins to win customers in the long term by building superior networks. The Fin

Sunday penalties hurt businesses, cost jobs

New Employment Minister Michaelia Cash says Sunday penalty rates are hurting tourism and forcing businesses to not open, denying jobs to university students and women. The Fin

Pay scandal stuns new chair

New 7-Eleven chairman Michael Smith says he was “shocked” by the extent of the wage fraud which yesterday triggered a shake-up of the convenience store chain’s senior ranks. The West

 

 

The Australian Financial Review

Page 1: The political impasse over the China trade deal could soon be broken, with Labor shifting its position to enable the protection of local jobs while leaving the deal untouched and allowing both the government and Beijing to save face.

Page 3: Australia has six universities in the top global 100, according to the latest rankings from Times Higher Education, one of the world’s most followed indicators of university quality.

Page 4: 7-Eleven chairman and billionaire Russ Withers has resigned from the board of the convenience store chain, along with chief executive Warren Wilmot and another senior executive, in the wake of a worker exploitation scandal that has rocked the company.

New Employment Minister Michaelia Cash says Sunday penalty rates are hurting tourism and forcing businesses to not open, denying jobs to university students and women.

Page 8: AGL Energy has revived a debate about government support for the closure of old coal-fired power plants amid mounting global pressure to deal with climate change.

Page 11: The Business Council of Australia will launch a ‘‘substantial’’ advertising campaign in coming weeks to help the government convince the community of the need for tax reform.

Page 16: SBS will launch a self-sustaining 24/7 food channel later this year, as the government-backed multicultural network seeks to capitalise on increasing interest in the culinary category.

Page 23: Telstra chief executive Andy Penn has stared down his global mobile rivals and warned investors that he’s willing to sacrifice profit margins to win customers in the long term by building superior networks.

Rio Tinto is clearing the decks to bow out of coal, restructuring its Hunter Valley business and kicking off its staggered exit with the $US606 million ($867 million) sale of a minority stake in one of its three mines in the NSW region to New Hope Group.

Page 25: Vodafone Hutchison Australia will use TPG Telecom’s networks to carry its mobile data across the country for the next 15 years, in a $1 billion deal that could dramatically improve the services experienced by Vodafone’s 5.25 million users.

 

 

The Australian

Page 1: Business, union and community leaders are united on the push for tax reform to be a central plank of the government’s new innovation agenda, ahead of a high-powered meeting with Malcolm Turnbull in Canberra today.

Page 2: The future of the broadband services promised by the National Broadband Network to more than 200,000 homes in regional and rural Australia now rests with a 6.3 tonne satellite in a geostationary orbit of about 36,000km, called Sky Muster.

Page 6: Congestion on major roads could be eased through the greater use of technology to improve the flow of vehicles by tracking cars and matching traffic signals under plans to be considered by the Turnbull government.

Page 19: Origin Energy has buckled under investor pressure over its highly geared balance sheet, announcing a $2.5 billion equity raising at a share price not seen since 2003, along with $1.42bn of dividend and spending cuts and an $800 million asset-sale program.

Page 21: The Australian Shareholders Association will vote against the Qantas remuneration report because it believes there is a lack of transparency in the airline’s long-term incentive plan and it has reservations about the use of underlying profit as a basis of calculating rewards.

New Woolworths chairman Gordon Cairns has wasted little time putting a broom through the supermarket giant’s boardroom after announcing that two of its directors who carry the most retail experience, Christine Cross and David Mackay, will not seek re-election at this year’s AGM.

Page 22: Telstra’s chief executive Andrew Penn has defended the incumbent telco’s decision not to tender for National Broadband Network construction contracts, estimated to be worth up to $2 billion, saying that the terms of the contracts just didn’t add up.

 

 

The West Australian

Page 1: Treasurer Scott Morrison has declared his sympathy for WA over the “absurdity” of the GST distribution system and has hinted the State might get extra financial help as it transitions from the construction phase of the mining boom.

Page 10: New Communications Minister Mitch Fifield has signalled the Federal Government could seek “more rational” media laws, arguing the current regime is redundant in the digital age.

Page 13: American food giant PepsiCo will shut its Smith’s chips factory in Canning Vale next year, putting hundreds out of work and slashing local potato sales by a fifth.

Page 16: The Department of Racing, Gaming and Liquor’s annual report shows the number of small bar licences in WA topped the century in 2014-15.

Business: New 7-Eleven chairman Michael Smith says he was “shocked” by the extent of the wage fraud which yesterday triggered a shake-up of the convenience store chain’s senior ranks.

One in five exploration geologists is out of work, according to new research from the Australasian Institute of Mining and Metallurgy.

Kimberley Diamonds received $2.2 million from the sale of diamonds produced at its collapsed Ellendale diamond mine in July and August, the two months after the appointment of administrators.

A site within Bentley Technology Park has emerged as a likely new home for a dramatically scaled-down Department of Agriculture and Food WA in the wake of hundreds of job losses.

Dacian Gold has done nothing to dash excitement around its Mt Morgans rebirth after a scoping study said the Rohan Williams run company could develop a mining operating near Laverton producing 220,000 ounces a year for all-in costs below $1000/oz.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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