Morning Headlines

Lib-Nat rift undermines Ord

Huge cracks in the relationship between the Liberal Party and Nationals WA have emerged as a factor in Chinese interests threatening to walk away from a billion-dollar investment in the far north.

Judge slams Palmer’s Mineralogy over ‘abuse of process’

Clive Palmer’s private company Mineralogy engaged in an “abuse of process” when it launched a $10 billion legal claim against China’s Citic, the Western Australian Supreme Court has found. The Aus

Westpac under fire over pay

Westpac Banking Corp executives, including former chief executive Gail Kelly, received millions extra in bonuses because they didn’t count software costs when assessing bonuses, a proxy-advice firm claims. The Fin

Atlassian to get $US3.6b IPO show on road

A gloomy market for technology floats will hang over software maker Atlassian’s pursuit of a blockbuster $US3.6 billion ($5 billion) company valuation this week, but strong appetite for new shares from existing investors and its profitable track record should support the planned float. The Fin

AB Inbev eyes Foster’s IPO after merger

Anheuser-Busch InBev, the world’s largest brewer, is believed to be considering an initial public offering of Australian brewer Carlton & United, which was sold four years ago for $12.3 billion to its soon-to-be-purchased SABMiller business. The Aus

The Australian Financial Review

Page 1: Westpac Banking Corp executives, including former chief executive Gail Kelly, received millions extra in bonuses because they didn’t count software costs when assessing bonuses, a proxy-advice firm claims.

A gloomy market for technology floats will hang over software maker Atlassian’s pursuit of a blockbuster $US3.6 billion ($5 billion) company valuation this week, but strong appetite for new shares from existing investors and its profitable track record should support the planned float.

Page 3: At least a dozen councils are considering selling their investments in coal, oil and gas shares and 13 councils with $5 billion invested have decided to divest from fossil fuels this year, according to activist group 350.org .

Page 7: Hostplus plans to invest $400 million into venture capital over the next five years, accelerating a surge of superannuation money into the sector.

Page 10: The theft of business secrets will be punishable by criminal law for the first time in an international trade agreement, under a surprise inclusion in the Trans-Pacific Partnership revealed by close scrutiny of the text.

Page 16: An overhaul of Australia’s foreign investment criteria will provide greater certainty for inbound investors and should not be subject to an ‘‘element of scaremongering’’ about Chinese state-owned enterprises and private investments.

Page 18: Banks and airline executives are bracing for up to $800 million dollars to be slashed from the estimated $3 billion they get from merchant credit card fees and surcharges.

The Australian

Page 1: Malcolm Turnbull will hold open the prospect of increasing Australia’s carbon target as he joins other world leaders at today’s climate change conference in Paris to generate momentum to limit global warming to 2C.

Clive Palmer’s private company Mineralogy engaged in an “abuse of process” when it launched a $10 billion legal claim against China’s Citic, the Western Australian Supreme Court has found.

Page 2: Andrew Forrest’s mining company has been warned to stay away from a crucial meeting of Aboriginal traditional owners to be held today in the remote Pilbara town of Roebourne.

Page 4: China’s relentless economic slowdown and a Senate allergic to spending cuts have blown a further $38 billion hole in the federal government’s finances over the next four years, a new report argues, putting pressure on the Turnbull government to spell out a reform agenda that boosts growth and restores the budget to surplus.

Labor has hit back at a “fanciful” warning that its new ambition on climate change will impose steep costs on the economy as it prepares for a bruising debate over how it can put a price on greenhouse gas emissions without an expensive carbon tax.

Page 17: Anheuser-Busch InBev, the world’s largest brewer, is believed to be considering an initial public offering of Australian brewer Carlton & United, which was sold four years ago for $12.3 billion to its soon-to-be-purchased SABMiller business.

Page 19: Resources industry job losses are tipped to continue to rack up over the next three years in response to the plunge in commodity prices, the slashing of growth capital expenditure and the completion of LNG export projects.

Page 21: The $2.4 billion Investa Office Fund is determined to set its own course as the final elements of Morgan Stanley’s sale of the $9bn Investa business comes to a head, with listed trust yet to decide whether it would jointly bid for Investa’s management rights with its wholesale cousin.

The West Australian

Page 3: The WA makers of Shark Shield have revealed sales of the repellent device have almost doubled since State Government-funded research found that it deterred sharks more than 90 per cent of the time.

Page 4: Rich families will be about $2250 a year worse off for every child they have in child care under a shake-up that increases support for families on incomes below $170,000.

Lawyers for a community campaign that has raised almost $50,000 in donations will start legal action today to try to stop the Roe 8 highway extension.

Page 5: Prices for one-bedroom apartments in Perth have broken the $1 million mark at Elizabeth Quay.

Page 14: BHP Billiton says it will not be able to assess the impact of a threatened $7.2 billion lawsuit from the Brazilian Government until the legal action has been filed.

Business: Huge cracks in the relationship between the Liberal Party and Nationals WA have emerged as a factor in Chinese interests threatening to walk away from a billion-dollar investment in the far north.