05/09/2013 - 06:57

Morning Headlines

05/09/2013 - 06:57

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Morning Headlines

Abbott in $6bn crawl to surplus

The Coalition will claim the budget bottom line will be more than $6 billion better off over four years if it is elected when it releases its final policy costings on Thursday, two days before the poll. The Fin

Senate could halt Abbott's carbon plan

A refusal by the Senate to allow the Coalition to abolish the carbon tax if it wins on Saturday could result in the price on carbon staying fixed at $24.50 for an extra year unless Tony Abbott makes good his threat to call a double dissolution election. The Fin

Weak economic data fires 'Abbott recession' warning

Weak economic growth, with business investment falling and households cutting their discretionary spending, has led Kevin Rudd to warn the economy would be plunged into recession under an Abbott-led Coalition government. The Aus

Kids' hospital beds decision put on hold

The state government has delayed a decision on expanding Perth's new children's hospital amid speculation it is wavering on an internal recommendation to add more beds but not an extra storey. The West

Bishop poised for quick take-off in new role

Julie Bishop will fly to Indonesia and Papua New Guinea within days of the election if the Coalition wins power and she becomes Australia’s new foreign minister. The Aus

Plenty of life left in mining boom: CEOs

Australian corporate leaders have questioned Kevin Rudd’s claim that the mining boom is over, expressing confidence that the economy is set to benefit from the income phase of the boom as the higher production phase for iron ore and liquefied natural gas kicks in during the next few years. The Aus

Rio is upbeat at Hope Downs

Billionaire mining magnate Gina Rinehart’s Pilbara’s iron ore riches are to become even more lucrative thanks to the high-tech Hope Downs 4 iron ore mine joint venture between her Hancock Prospecting and Rio Tinto becoming fully operational at the end of the month. The Aus

Court told of false loan deal

Wealthy mining contractors Peter Bartlett and Ron Sayers created a false loan to protect a $32 million plus tax avoidance scheme, a Supreme Court jury was told yesterday. The West

 

The West Australian

Page 1: A key reason for Fremantle being sent to Geelong for their qualifying final at the weekend may have become clearer yesterday when the Labor Party committed funding for the next stage of the Simonds Stadium redevelopment.

The state government will consider tougher speeding fines in a penalties review after its road safety advisers recommended bigger deterrents were needed.

Page 5: The state government has delayed a decision on expanding Perth's new children's hospital amid speculation it is wavering on an internal recommendation to add more beds but not an extra storey.

Page 6: Kevin Rudd has asked more than seven million voters who have never experienced a recession to stick with Labor as figures show 22 years of uninterrupted growth in Australia.

Page 7: Joe Hockey will declare today the Coalition can improve the federal budget by $6 billion and reduce debt by $16 billion over the next four years.

Tony Abbott will pay businesses $3,250 to employ older unemployed workers as part of a drive to get mature jobseekers back in the workforce.

Page 9: Billionaire Clive Palmer's fledgling party could secure a WA Senate seat with as little as 3 per cent of the primary vote, analysis shows.

Union leaders are split over Labor's leadership change from Julia Gillard to Kevin Rudd, with the Australian Workers Union claiming it was a mistake.

Page 11: Colin Barnett went on the offensive over his government's changes to education funding yesterday, dismissing a teachers' union rally on Tuesday as partly motivated by the federal election and declaring WA public schools would remain the envy of the nation.

Page 16: The state government has dumped plans to build another oxygenation plant on the Swan River amid warnings from WA's foremost water researcher that the iconic waterway is on the verge of disaster.

Business: Chevron has moved to ease crippling bottlenecks with its Gorgon supply chain by using Fremantle Port for the first time to ship goods to the liquefied natural gas project.

Soaking up the artistic and architectural marvels of Rome as a child helped set property developer Adrian Fini on a path of drawing on culture and creativity in his business pursuits.

Russian mining giant Norislk has extended its losses in Australia, with its major local operating subsidiary booking an after-tax loss of $69.2 million last calendar year.

Wealthy mining contractors Peter Bartlett and Ron Sayers created a false loan to protect a $32 million plus tax avoidance scheme, a Supreme Court jury was told yesterday.

Target's new management is under pressure to stem the discount retailer's earnings slide by the end of the year.

A leading native title advocate says the Barnett government's relationship with Aboriginal groups is “toxic” and reflects a lack of leadership on heritage and native title issues in WA.

Four years after taking a minority stake in Perilya in the midst of a heated takeover battle, China's Zhongjin Lingnan has moved to mop up the minority shareholders.

 

The Australian Financial Review

Page 1: The Coalition will claim the budget bottom line will be more than $6 billion better off over four years if it is elected when it releases its final policy costings on Thursday, two days before the poll.

Energy giant Chevron is bringing back waterfront warrior Chris Corrigan, awarding his Qube Logistics a critical contract to transport container traffic between Fremantle and its giant Gorgon gas project on Barrow Island.

Page 3: The top forestry expert for agribusiness investment group Great Southern repeatedly warned the company's chairman John Young that its production targets were unrealistic before it raised almost $2 billion from investors.

The seizure of a laptop from a Swiss accountant nearly 10 years ago led to the prosecution of two prominent mining executives, the West Australian Supreme Court has found.

Page 5: Sales of Australian-made cars, led by a disastrous month for Ford, fell 13 per cent in August, compared with the same month in 2012, a drop car makers blamed on the government's plan to slash $1.8 billion in tax breaks for drivers and businesses using company cars.

Page 7: The Greens have widened the debate about Tony Abbott's mandate if the Coalition wins the election on Sunday, declaring they will block the resurrection of the Australian Building and Construction Commission and some savings measures affecting business.

Page 8: A refusal by the Senate to allow the Coalition to abolish the carbon tax if it wins on Saturday could result in the price on carbon staying fixed at $24.50 for an extra year unless Tony Abbott makes good his threat to call a double dissolution election.

Page 9: Business leaders have called on the incoming federal government to step up financial support to state infrastructure projects and strengthen the role of advisory body Infrastructure Australia, ahead of Saturday's election.

Mining groups and tax experts have welcomed the Coalition's promise to reintroduce tax breaks for investors in mining exploration decades after similar incentives helped ignite the 1970s mining boom, but were later scrapped for being too expensive.

Page 11: Angry TAFE chiefs have taken the unusual step of disclosing private discussions with a former Labor minister following revelations $111 million promised for training facilities was dumped in favour of small business tax breaks.

Page 21: Queensland Premier Campbell Newman has vowed not to alter the state's mining royalty regime amid calls from global resources companies to cut red tape and reduce regulatory burdens.

Crown chairman James Packer hopes to replicate the success he enjoyed with Australian online classified advertising in the United States by taking a $330 million stake in Nasdaq-listed real estate marketplace Zillow.

 

The Australian

Page 1: A Coalition government would save about $40 billion over the next four years in a budget plan to be unveiled today in the hope of demolishing Labor’s claim that Tony Abbott’s cuts would tip the economy into recession.

Senior Labor strategists believe the party should acknowledge it has lost the election, in the hope it will spark a final 48- hour surge in support that could help stave off defeat in several tight marginal seats.

Tony Abbott plans to roll back Labor’s laws that limit free speech on the basis of not ‘‘giving offence’’, defend religious freedom and reform the Australian Human Rights Commission.

Page 2: Weak economic growth, with business investment falling and households cutting their discretionary spending, has led Kevin Rudd to warn the economy would be plunged into recession under an Abbott-led Coalition government.

West Australian state school teachers are headed towards strike action after Premier Colin Barnett rejected their ultimatum to reverse a series of education cuts announced in last month’s budget.

Page 3: Labor's attempts to fire up competition in the $1.3 trillion mortgage market appear to have failed, with new analysis finding fewer homeowners are switching between the major banks.

Page 5: Julie Bishop will fly to Indonesia and Papua New Guinea within days of the election if the Coalition wins power and she becomes Australia’s new foreign minister.

The Coalition says that its cheaper National Broadband Network would deliver all of the benefits identified in a taxpayer-funded analysis used by Labor to promote its project.

Reserve Bank board member, Fairfax Media chairman and Liberal Party member Roger Corbett faced calls to resign yesterday after criticising Kevin Rudd for doing the Labor Party ‘‘enormous damage’’ in undermining Julia Gillard.

Page 6: Tony Abbott has pledged to be ‘‘ incredibly careful’’ about sending Australian troops overseas, particularly beyond our region, after the painful experiences of Iraq and Afghanistan.

Labor plans to force government departments to absorb more than $ 1.6 billion in savings to pay for scores of announcements during the election campaign, according to final policy costings that show a slight improvement in the budget bottom line.

Page 8: Federal Labor is likely to hand the leadership to Bill Shorten after a devastating election defeat on Saturday as it seeks to put the Kevin Rudd era firmly behind it.

Page 9: Clive Palmer is suing Liberal Nationals candidate Mal Brough for more than $ 800,000 over his denials that he lobbied the businessman to fund the sexual harassment case against Peter Slipper.

Business: Australian corporate leaders have questioned Kevin Rudd’s claim that the mining boom is over, expressing confidence that the economy is set to benefit from the income phase of the boom as the higher production phase for iron ore and liquefied natural gas kicks in during the next few years.

Herbert Smith Freehills, one of the nation’s most prominent mergers and acquisitions law firms, has called on the winner of the election to steer clear of further onerous changes to foreign investment rules.

BHP Billiton’s new coal chief Dean Dalla Valle says his Queensland coking coal unit has not finished cost- cutting despite big recent improvements.

Australia's northern cattle producers are celebrating a significant boost in prospects for a full resumption of the live cattle export trade with Indonesia.

Billionaire mining magnate Gina Rinehart’s Pilbara’s iron ore riches are to become even more lucrative thanks to the high-tech Hope Downs 4 iron ore mine joint venture between her Hancock Prospecting and Rio Tinto becoming fully operational at the end of the month.

Australia's northern cattle producers are celebrating a significant boost in prospects for a full resumption of the live cattle export trade with Indonesia.

The nation’s $107 billion tourism industry welcomed the Coalition’s decision to freeze the reviled $55 a head passenger movement charge for three years.

The value of global mining deals fell 74 per cent to $US20.6 billion ($ 22.6bn) in the first half of the year, a report has found, with merger and acquisition activity tipped to remain subdued throughout the year.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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