Morning Headlines

Coal mining crisis to hit at home

One of the world’s biggest coal mining groups will cut or shift about 85,000 employees and sell or shut mines around the world, including at least four in Australia, a decision that will reshape the global coal industry. The Fin

UK executive tipped to lead ABC

An Australian-born British media executive has emerged as the surprise frontrunner in the race to head the ABC. The Aus

VET loan scheme masks loss of funds

Explosive growth in the failed student loan scheme has masked massive disinvestment in vocational education and training, with government spending plunging more than $400 million at the same time as VET FEE-HELP loans were going through the roof. The Aus

Carbon canned for dairy

Growing mallee trees in arid outback Western Australia to reap carbon credits might sound a long way from farming dairy cows on lush green grass to supply fresh milk to China. The Aus

Singaporean group eyes $85m CBD berth in Perth

The Perth office market is showing signs of life with Singapore-listed ARA Group looking to buy a major tower in the Perth CBD for almost $85 million. The Aus

China exports to shake up WA dairy industry

Two childhood friends from China are behind plans to radically increase milk production in WA to supply a chain of stores in their homeland trading under the name Capel Farm. The West

The Australian Financial Review

Page 1: One of the world’s biggest coal mining groups will cut or shift about 85,000 employees and sell or shut mines around the world, including at least four in Australia, a decision that will reshape the global coal industry.

The Turnbull government is preparing to go it alone on tax reform after conceding there will be no agreement with the states on what taxes to increase, such the GST, and what to do with the revenue.

Page 3: Entrepreneur Gina Rinehart accused the media of ‘‘relentless negativity’’ ahead of the first iron ore shipment today from her Roy Hill mine.

Page 7: Employees need to work longer to fund their retirement but face ‘‘ageism’’ from employers who are concerned they are not up to the job, Age Discrimination Commissioner Susan Ryan has said.

Page 8: Clive Palmer’s Queensland Nickel has not met with any potential financiers even though he says it is in imminent danger of failure.

Page 11: Hong Kong-listed Biostime International, which paid a whopping $1.67 billion for Australian vitamins group Swisse Wellness, expects its own profits to drop by about 90 per cent for calendar 2015 because of cost blowouts.

Page 13: Increased labour costs at Spotless’ laundry businesses have been identified as one of the biggest contributors to the company’s shock profit downgrade.

Origin Energy has sought to steal a march on its rivals in the home battery revolution by sealing a deal with Tesla that will make it the first local supplier of the much-hyped Powerwall system.

Page 26: Facebook is partnering with Fairfax Media as the social media giant continues the global rollout of Instant Articles.

The Australian

Page 1: An Australian-born British media executive has emerged as the surprise frontrunner in the race to head the ABC.

Page 2: The budget faces a hit of at least $15 billion over the next four years from the fall in the iron ore price, which is gathering pace.

Scott Morrison is seeking a deal with the states to boost economic growth by freeing up competition and cutting waste, making it clear that he will walk away from tax reform talks if the states are only interested in adding to the burden on workers.

Page 4: Former Nationals leaders are calling for calm over the defection of former minister Ian Macfarlane amid an escalating effort to use a party meeting on Monday to stop him quitting the Liberals.

Page 5: Explosive growth in the failed student loan scheme has masked massive disinvestment in vocational education and training, with government spending plunging more than $400 million at the same time as VET FEE-HELP loans were going through the roof.

Page 6: Japan has called on Australia not to allow anger over the resumption of Japanese whaling in the Southern Ocean to undermine Tokyo’s bid for a $20 billion submarine contract.

The Greens have conceded that climate action can be achieved without putting a price on carbon, signalling a more pragmatic approach that relies on a range of strategies to reduce emissions.

Page 19: Anglo American’s plans to sell or close more than half its mines, cut 85,000 jobs and suspend dividends may not be enough to get it through the commodities rout, with calls growing for Wollongong-born chief executive Mark Cutifani to pursue an equity raising while he still can.

Australian-born Andrew Liveris is set to lead a $US160 billion ($221.3bn) agricultural behemoth as Dow Chemical and DuPont enter late-stage talks in a deal to create the world’s second-largest chemicals company.

Page 21: Trade Minister Andrew Robb has vowed a new trade summit to the US will have a different focus to the “G’day USA” summit as he works on re-energising commercial ties with Australia’s biggest two-way investment partner.

Page 22: Growing mallee trees in arid outback Western Australia to reap carbon credits might sound a long way from farming dairy cows on lush green grass to supply fresh milk to China.

Page 27: The Perth office market is showing signs of life with Singapore-listed ARA Group looking to buy a major tower in the Perth CBD for almost $85 million.

The West Australian

Page 4: As Federal Treasurer Scott Morrison effectively conceded that a suggestion to lift the GST to 15 per cent was dead, WA counterpart Mike Nahan said he could not support the idea.

Page 6: Perth’s biggest council has sounded the alarm on the loss of trees around Perth, warning it is on track to lose 20ha of tree canopy to infill housing by 2030.

Page 9: A South Hedland complex that cost WA taxpayers $25 million is now valued at almost half that, sparking further criticism of the Government’s push into the Pilbara housing market.

Page14: Australians are being penalised by a prosthetics rip-off for implants such as hip sockets, pacemakers and stents, according to an industry group.

Business: Two childhood friends from China are behind plans to radically increase milk production in WA to supply a chain of stores in their homeland trading under the name Capel Farm.

The RAC is scoping the development of a branded inner-city club as it looks to add another element to its widening revenue stream.

Serial biotech director Stewart Washer has described the pot trend sweeping the local market as a “once in a lifetime opportunity”, with the director joining two marijuana hopefuls.

A court will rule on a rescue package for Pluton Resources after mixed voting at consecutive meetings yesterday.