23/10/2015 - 06:37

Morning Headlines

23/10/2015 - 06:37

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Bad taxes hard to reform, says WA Treasurer Nahan

Western Australia’s Treasurer, Mike Nahan, says states do not have the ability to overhaul even bad taxes, given state budget pressures. The Fin

Protests start as Roe 8 gets go-ahead

Residents, councillors and MPs will gather at Bibra Lake today to protest against the Federal

Government’s approval of Roe 8 — the contentious highway extension through parts of Beeliar wetlands. The West

RBA gains from falling dollar

Treasurer Scott Morrison will be the main beneficiary of a $1.6 billion windfall from the Reserve Bank of Australia after it generated more than $6 billion in profit from the falling Australian dollar. The Fin

CBA hike undercuts Westpac

The Commonwealth Bank will raise interest rates on home loans to owners and investors, following rival Westpac’s lead and paving the way for other banks to make customers share the cost of a safer banking system. The Fin

Telstra’s bush deal ‘questionable’

A landmark government review into regional telecommunication services has labelled the decision to pay Telstra more than $330 million a year to deliver essential telco services to broadband-starved users in the bush as “questionable”. The Aus

BHP chief sees light in the fog

BHP Billiton chairman Jac Nasser, the most powerful man in mining, says it is almost impossible to provide a definitive view of where the global economy is headed. The West

 

 

The Australian Financial Review

Page 1: The Commonwealth Bank will raise interest rates on home loans to owners and investors, following rival Westpac’s lead and paving the way for other banks to make customers share the cost of a safer banking system.

Coles plans to double its cuts to food prices, taking the cost of its price war with Woolworths to almost $1 billion for the two companies.

Page 3: Treasurer Scott Morrison will be the main beneficiary of a $1.6 billion windfall from the Reserve Bank of Australia after it generated more than $6 billion in profit from the falling Australian dollar.

Page 5: Western Australia’s Treasurer, Mike Nahan, says states do not have the ability to overhaul even bad taxes, given state budget pressures.

Page 11: A pot stock boom looks set to sweep the Australian sharemarket after plans to legalise medical cannabis, with a host of ASX-listed companies fast-tracking their moves to enter the market.

Page 13: Competition boss Rod Sims has warned that while the watchdog has given the green light for Foxtel to buy up to 15 per cent of Ten Network Holdings, it will continue to scrutinise deals between the two in the future.

Page 15: South32 is set to make good on its promise to significantly reduce its cost base, revealing on Thursday that it will shave 25 per cent off its group costs this financial year.

Page 16: 7-Eleven could face a $300 million compensation wages bill after the Allan Fels-chaired panel released the first tranche of payments to exploited workers.

Page 18: Singtel-Optus chief executive Allen Lew has declared open season on Australian sporting broadcast rights, setting the goal of partnering with a range of codes to entice mobile and internet customers away from his rivals such as Telstra and TPG Telecom.

 

 

The Australian

Page 1: Bill Shorten’s former deputy at the Australian Workers Union has declared the union “profited” from its dealings with builder Thiess John Holland after he arranged for the joint venture to make hundreds of thousands of dollars in payments.

Page 8: Conservative MPs have hit out at Christopher Pyne for axing funds for climate “contrarian” Bjorn Lomborg, saying he has succumbed to a vocal minority and the move is a “sop to Leftist bullying”.

Some schools could have funding for disabled students cut next year, warns Education Minister Simon Birmingham.

Page 10: Senators have mounted a bipartisan campaign to ensure transparency in the selection of a new chief executive for Airservices Australia, with Liberal Bill Heffernan claiming the board headed by Angus Houston intends to appoint “one of our own little pet cats”.

Page 23: Vitamins maker Swisse expects more than half its revenue to come from the booming Chinese market within the next 12 months, as the China free-trade agreement opens the door for it to sell more products directly to consumers in pharmacies throughout the Asian nation.

Government initiatives are driving the complexity and confusion in Australia’s health insurance products, according to Rob Bransby, head of leading not-for-profit insurer HBF.

Page 26: A landmark government review into regional telecommunication services has labelled the decision to pay Telstra more than $330 million a year to deliver essential telco services to broadband-starved users in the bush as “questionable”.

National house prices are headed for a period of moderation and could even wind back in some pockets, according to some of the nation’s largest developers and financiers.

 

 

The West Australian

Page 3: Residents, councillors and MPs will gather at Bibra Lake today to protest against the Federal Government’s approval of Roe 8 — the contentious highway extension through parts of Beeliar wetlands.

Page 11: The military admits a weight restriction has been slapped on Australian pilots training on the F-35 Joint Strike Fighter for fear a problem with the ejector seat could put lightweight pilots at risk of breaking their necks.

Page 13: Racing, Gaming and Liquor Minister Colin Holt says Aldi will have to overcome challenges to sell alcohol in its new WA stores, but the State’s drinking culture is maturing and becoming more European.

Page 17: The head of the Department of Planning believes WA’s lack of housing diversity and negative community attitudes towards tenants are scuppering affordable housing developments.

Page 21: One of Perth Lord Mayor Lisa Scaffidi’s strongest supporters, councillor James Limnios, has beaten mayoral chain hopeful Reece Harley to be appointed deputy mayor.

Business: Quadrant Energy’s ambition to buy Santos out of their WA gas business has hit a $7.1 billion speed hump in the shape of Brunei and Dubai’s billionaire ruling families.

BHP Billiton chairman Jac Nasser, the most powerful man in mining, says it is almost impossible to provide a definitive view of where the global economy is headed.

PPR WA executive director Peter Harris says he intends to return to his job “shortly” after staff were told yesterday he had gone on “indefinite leave”.

Perth leads the nation in audience growth for out-of-home advertising, including outdoor inventory such as billboards and public transport advertising, with 6.4 per cent year-on-year increase, according to the Outdoor Media Association’s MOVE report.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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