09/11/2015 - 07:04

Morning Headlines

09/11/2015 - 07:04

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Bank GST for company tax cut plan

The Turnbull government is closely studying proposals to extend the GST to financial services n a move that could help pay for a cut to the 30 per cent company tax rate urged by the business. The Fin

FIFO fight

Nationals leader Terry Redman has accused Colin Barnett of undermining regional development and “screwing” the Pilbara town of Newman in a significant fracturing of the Liberal-Nationals alliance government. The West

Asciano bidder Brookfield digs in for long haul

Canadian investment giant Brookfield Asset Management has put Qube, its rival for Asciano, on notice that it will remain an investor and oppose any break-up of its port and rail group even if its takeover fails. The Fin

States ordered to cut spending for GST windfall

The federal government is putting pressure on the states to scale back spending and overhaul their public services, under a tax reform deal that will put new conditions on access to the “bucket of money” from a higher GST. The Aus

Traffic snarls take big toll on business

Congestion is having a devastating impact on Perth businesses, with one in three saying it is costing them work, money and customers. The West

Employers face criminal action over AWU

Several employers face investigation for alleged criminal conduct over their dealings with the Australian Workers' Union, after the strongest submissions against companies by the trade union royal commissioner's top lawyer. The Fin

Brazil disaster rocks BHP

Brazilian authorities were last night searching for up to 28 people still missing three days after dams burst at the half BHP Billiton-owned Samarco iron-ore operations, unleashing a wall of heavy sludge that buried much of a nearby village before continuing to flow towards other communities and the Doce River. The Aus

Market City site may stay in WA hands

In an interesting twist, the battle for the $200 million Market City site in Western Australia may be fought on home turf. The Fin

Traditional owners unite in aquaculture

Indigenous groups involved in ambitious plans for a Kimberley aquaculture hub have united behind a fin fishing proposal earmarked for the precinct, delivering a coup for the fledgling sector. The West

 

The West Australian

Page 1: Nationals leader Terry Redman has accused Colin Barnett of undermining regional development and “screwing” the Pilbara town of Newman in a significant fracturing of the Liberal-Nationals alliance government.

Page 5: Congestion is having a devastating impact on Perth businesses, with one in three saying it is costing them work, money and customers.

Page 12: There is a strong belief in the aviation industry that searchers scouring the southern Indian Ocean for missing Malaysia Airlines flight MH370 may find the Boeing 777 in the next four weeks.

Business: BHP Billiton chief executive Andrew Mackenzie and iron ore president Jimmy Wilson will travel to Brazil today to inspect the Samarco operation where a deadly mudslide swamped nearby towns.

Hopes held by logistics group Qube to carve up Asciano appear to have been dashed after Brookfield Asset Management declared it would not support breaking up the infrastructure company.

Disturbing gaps are emerging between what Australian financial institutions say they are doing to counter family violence and economic abuse and the actual experience of Australian women who ask for bank help.

Indigenous groups involved in ambitious plans for a Kimberley aquaculture hub have united behind a fin fishing proposal earmarked for the precinct, delivering a coup for the fledgling sector.

 

The Financial Review

Page 1: The Turnbull government is closely studying proposals to extend the GST to financial services n a move that could help pay for a cut to the 30 per cent company tax rate urged by the business.

The federal government will offer $5 billion in concessional loans from mid-next year to major projects that will facilitate further investment from the private sector and state and territory governments to open up the economic potential of the top end.

Page 3: Sydney's falling auction market hit a three year low at the weekend as buyers reacted to higher interest rates and record listing numbers.

Page 5: Several employers face investigation for alleged criminal conduct over their dealings with the Australian Workers' Union, after the strongest submissions against companies by the trade union royal commissioner's top lawyer.

Page 7: The federal government's revamped $5 million visa targeting wealthy Chinese has made a solid start, despite fears some applications would be deferred by having to invest in higher-risk venture capital products.

Page 8: Australia has entered a wide range of bilateral agreements with countries around the Pacific in a web of special deals which underline the complexity of the Trans-Pacific Partnership agreement text released on Friday.

Page 13: Canadian investment giant Brookfield Asset Management has put Qube, its rival for Asciano, on notice that it will remain an investor and oppose any break-up of its port and rail group even if its takeover fails.

Retailers are being warned to brace for bids from overseas raiders as the weaker Australian dollar, falling share prices and low interest rates make domestic retailers more attractive to overseas buyers than they have been for years.

Page 15: BHP Billiton chief executive Andrew Mackenzie on Monday will fly to Brazil to face the fallout from a failure at an iron ore operation that resulted in two dams bursting and flooding villages on Friday morning, sparking fears of a string of casualties.

Page 29: Seven Network will triumph in the free-to-air ratings for 2015 for the ninth year running, but close rival Nine Network will win again in the key demographics as Seven's audience skews a little older.

Page 32: In an interesting twist, the battle for the $200 million Market City site in Western Australia may be fought on home turf.

 

The Australian

Page 1: Chinese and Russian spies have attempted to hack into the top secret details of Australia’s future submarines, with both Beijing and Moscow believed to have mounted repeated cyber attacks in recent months.

The Turnbull government will make a staunch defence against any Labor attack on the trade union royal commission in parliament this week, seizing on corruption allegations against the Australian Workers Union.

Private training colleges are being ordered to hand over phone numbers and email addresses of thousands of students who took out government loans this year.

Page 2: Federal Labor MPs and some senior-ranked party figures are alarmed at what they say is serious “dysfunction” in the operations of the party’s Sydney-based head office under party boss Jamie Clements.

Bill Shorten is demanding a new approach at the royal commission into union corruption to ensure he is told of any future statements it makes about him, amid an outcry over the release of submissions on Friday night that found he had committed no crime.

Page 3: Construction giant Lendlease could face a multi-million-dollar bill to re-clad Melbourne’s Royal Women’s Hospital after Victoria’s Health Minister Jill Hennessy demanded the $250 million medical centrepiece be made compliant with building and safety codes.

Page 4: The federal government is putting pressure on the states to scale back spending and overhaul their public services, under a tax reform deal that will put new conditions on access to the “bucket of money” from a higher GST.

The federal government is stepping up its fight for new laws to force superannuation funds to appoint independent directors, seeking support from crossbench senators as soon as this week to impose the tougher rules.

Business: Brazilian authorities were last night searching for up to 28 people still missing three days after dams burst at the half BHP Billiton-owned Samarco iron-ore operations, unleashing a wall of heavy sludge that buried much of a nearby village before continuing to flow towards other communities and the Doce River.

Speculation was increasing last night that Santos will unveil a sweeping overhaul of the embattled oil and gas producer as early as today that could include an estimated $3 billion capital raising.

The supermarket wars have spilt over into cyberspace, with Coles introducing a new “pick and pack” technology for its online grocery customers. This promises to up the ante for its battle with Woolworths by increasing efficiency by at least 20 per cent, reducing order errors and improving delivery times to shoppers.

Asciano returns to the NSW Supreme Court this morning to learn whether it can defer a shareholder vote on Brookfield Infrastructure Partners’ $8.9 billion takeover scheme at tomorrow’s annual meeting.

Local manufacturers are urging Australia’s competition watchdog to impose conditions on oil and gas giant Shell’s proposed takeover of BG Group to stop local firms being shut out of the bidding process for its vast Queensland gas reserves.

More than half the businesses in Australasia are mulling an acquisition in the next 12 months, setting the stage for the mergers and acquisitions boom to roll on beyond the new year.

The Singapore-listed Frasers Centrepoint, controlled by Thai tycoon Charoen Sirivadhanabhakdi, is reaping the benefits of its $2.6 billion takeover of the Australand Property Group, with its local operations driving a jump in full-year results.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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