12/11/2015 - 06:44

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12/11/2015 - 06:44

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Top Fortescue investor in corruption probe

A former board member at Fortescue Metals Group and the man who rescued the company during the global financial crisis is the subject of a corruption probe in China, complicating efforts by the iron ore miner to raise capital. The Fin

Perth prestige house prices drop 11.5pc

House prices in Perth’s wealthiest suburbs have dropped a staggering 11.5 per cent this year, nearly three times more than the drop in house prices at the bottom end of the city’s property market. The Fin

Super shift hit to nest eggs

Wealthier workers would lose $150,000 from their retirement savings over their careers under the sweeping changes to superannuation that are being explored as part of Malcolm Turnbull’s tax reforms, sparking fears the rules would hurt middle Australia. The Aus

Juice boost as Myer family change guard

One of the nation’s richest families, the Myer family, has made its first foray into the booming organic foods industry, buying the nation’s largest supplier of organic chilled juice to Woolworths and Coles supermarkets. The Aus

Corporate travellers to gain from new American Airlines, Qantas alliance

Corporate travellers are among those expected to gain from a strengthened alliance between American Airlines and Qantas that will see the US giant launch services from its Los Angeles hub to Auckland and Sydney. The Aus

 

 

The Australian Financial Review

Page 1: Independent experts warned two years ago that a Brazilian dam owned by BHP Billiton and Vale, which collapsed last week killing at least six people, was not safe.

A former board member at Fortescue Metals Group and the man who rescued the company during the global financial crisis is the subject of a corruption probe in China, complicating efforts by the iron ore miner to raise capital.

Malcolm Turnbull is positioned to reclaim Kevin Rudd’s biggest regional diplomatic initiative at next week’s East Asia Summit in Malaysia, which is preparing to assume more power to deal with problems ranging from people smuggling to terrorism.

Page 4: Top income earners would pay an extra 10¢ of tax in every dollar on their superannuation contributions and be left up to $3000 a year worse off under a proposal being examined by the Turnbull government.

Page 5: House prices in Perth’s wealthiest suburbs have dropped a staggering 11.5 per cent this year, nearly three times more than the drop in house prices at the bottom end of the city’s property market.

Page 8: Australians could experience more blackouts due to the rise of renewable energy and more households going off-grid with battery storage, the national regulator warned.

Western Australian potato mogul Tony Galati will risk going to prison if he disobeys a court order restricting spud sales.

Page 14: Robots will be performing almost half of manufacturing tasks in a decade and doing everything from driving cars, to providing investment advice and performing medical surgery, according to a landmark technology disruption report.

Page 21: Woolworths shareholders have called on chairman Gordon Cairns to negotiate a new exit package for outgoing chief executive Grant O’Brien amid growing unrest over his multi-million dollar golden handshake.

Page 23: Asciano’s credit ratings could be lowered if a $9 billion takeover proposal from a consortium led by logistics group Qube is successful and the company is split up, Moody’s Investors Service has warned.

Page 24: Westpac’s former chief executive Gail Kelly received $11.76 million for her last four months as boss of the country’s second-biggest bank, due mainly to the vesting of previously-granted performance shares.

Page 25: Computershare founder and major shareholder Chris Morris says institutional shareholders will be happy the company finally has an independent chairman after he steps down from the top job on Wednesday.

Page 26: Flight Centre Travel Group will begin selling low-cost flights online to help maintain market share in leisure travel as digital-only player Webjet is reporting booking growth at a rate five times higher than its larger rival.

 

 

The Australian

Page 1: Wealthier workers would lose $150,000 from their retirement savings over their careers under the sweeping changes to superannuation that are being explored as part of Malcolm Turnbull’s tax reforms, sparking fears the rules would hurt middle Australia.

Clive Palmer has siphoned $1.35 million in “loans’’ from a near-insolvent company whose shareholders include mum-and-dad investors — none of whom was consulted about the raid on the cash.

Page 5: The peak body for company directors is urging Malcolm Turnbull to increase the GST and has added to calls to tackle high rates of personal income tax.

Page 6: The world’s biggest retail event, China’s Singles Day, has reaped record-busting sales for participating Australian brands, with some products selling out before the 24-hour shopping frenzy officially kicked off.

Page 8: Balance-of-power MP Billy Gordon will vote against the Palaszczuk government’s legislation to wind back drinking hours in a move that threatens to sink the key election promise.

Page 23: One of the nation’s richest families, the Myer family, has made its first foray into the booming organic foods industry, buying the nation’s largest supplier of organic chilled juice to Woolworths and Coles supermarkets.

Page 24: Shen Wenrong, one of China’s most powerful steel producers, says the golden age of supernormal profits for miners and steelmakers has ended.

Page 25: Corporate travellers are among those expected to gain from a strengthened alliance between American Airlines and Qantas that will see the US giant launch services from its Los Angeles hub to Auckland and Sydney.

Page 29: Chinese property developer Zone Q has swooped on a Perth development site — which can support a $100 million project — offloaded by another Chinese player, Aqualand Australia.

 

 

The West Australian

Page 9: Premier Colin Barnett and Nationals leader Terry Redman have dramatically escalated their disagreement over the future of a BHP Billiton workers camp in Newman.

Page 12: The chances of change to the GST have all but evaporated after key independent senators vowed to oppose lifting or broadening the tax before seeing any proposals.

Page 17: WA cricket administrators have created sit-and-relax areas around the WACA Ground, designed to give patrons a break from a long day in the sun.

Business: The peak lobby group for vegetable growers has rejected claims by Treasurer Mike Nahan that there is widespread industry support for the sale of WA’s biggest wholesale produce markets.

Newcrest Mining has awarded Macmahon Holdings a contract worth up to $372 million for open pit mining and equipment maintenance at the Telfer gold operation in the East Pilbara.

Beach Petroleum’s $1.2 billion merger with Drillsearch has received an early fillip after the Australian Securities Exchange granted Beach an in-principle waiver from having to put the deal to its shareholders.

Premium chocolate maker and retailer Koko Black, which has stores in Claremont and the CBD, has gone into voluntary administration.

Fresh from striking a deal to secure 100 per cent ownership of its uranium asset and fixing up its balance sheet, Bannerman Resources says it should be at the forefront of the global development pipeline once the long-expected outlook for the nuclear fuel improves.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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