06/01/2016 - 06:33

Morning Headlines

06/01/2016 - 06:33

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Morning Headlines

PM's new strategy to unlock the north

The federal government has widened the scope of its $5 billion plan to spur new growth across northern Australia, putting commonwealth loan guarantees on the agenda in a renewed bid to build major infrastructure and resource projects. The Aus

Poor management costing Libs

Former Minister Murray Cowper says the state government has drifted from “true Liberal philosophies” and is bleeding voters because of poor financial management. The West

Quick slide raises big queries

Questions are being asked of Dick Smith's auditors and directors following the electronics retailer's sudden descent into collapse, just two years after being sold to public investors. The West

Permits to aid Kyoto target

The Australian government will use internationally generated greenhouse gas emission permits purchased for as little as 25c a tonne, a fraction of the Australian price, to meet its 2020 target under the Kyoto protocol. The Fin

Investors wipe $30bn off market

Investors have lost $30 billion in the first two days of trading on the Australian sharemarket as fears for global growth and political stability sweep markets. The Aus

China props up sharemarket after $820 billion rout

China has moved to prop up its sinking sharemarket as state-controlled funds bought equities and the securities regulator signalled a selling ban for big investors will remain beyond this week's expiration date. The Fin

Cricket on front foot as Big Bash bets near $3bn

Cricket Australia has held breakthrough talks with unregulated offshore bookmakers as it races to head off match fixing concerns amid signs more than $3 billion could be bet on this season's Big Bash League. The Fin

 

The West Australian

Page 3: Former Minister Murray Cowper says the state government has drifted from “true Liberal philosophies” and is bleeding voters because of poor financial management.

Page 4: WA has recorded its sixth straight month of double-digit crime increases, with suburbs in Perth's south and east among the hardest hit.

Page 7: Malcolm Turnbull has dismissed suggestions he should launch an investigation of Jamie Briggs' distribution of a photo of a female diplomat, claiming leak inquiries “tend to come up with very little”.

Page 10: Qantas has been named the world's safest Airline for the third year running by AirlineRatings.com – the world's only airline safety and product rating agency.

Page 11: Federal MP Alannah MacTiernan has ruffled the feathers of Labor colleagues by giving guarded support to families who do not want their children immunised.

Dick Smith shoppers had thousands of dollars in gift cards deemed worthless yesterday as a consumer watchdog said it wanted to investigate whether the sales were made despite knowledge the retailer would likely be put up for sale.

Business: Questions are being asked of Dick Smith's auditors and directors following the electronics retailer's sudden descent into collapse, just two years after being sold to public investors.

The reliability of Wellard's fleet of livestock carriers is under fire after it was forced to abort a shipment from Fremantle to Israel because of mechanical failure.

The sale of Leeuwin Barracks in East Fremantle this year will see possibly the last big redevelopment site on the Swan River pass into the hands of developers.

The three CBH grower directors up for re-election this year have given conditional support to supplying farmers with fuel.

The owners of WA's best new gas discovery, the Waitsia field near Dongara, have fast-tracked its development after signing an offtake deal with Alinta Energy.

Barrick Gold has lost a battle with the state government over a $54 million stamp duty assessment dating back to its $10 billion takeover of Placer Dome a decade ago.

 

The Australian Financial Review

Page 1: Australia's oldest electronics retailer Dick Smith has conceded its desperate pre-Christmas sale has failed to save it from the clutches of nervous bankers, who have forced it into receivership owing roughly $150 million.

China has moved to prop up its sinking sharemarket as state-controlled funds bought equities and the securities regulator signalled a selling ban for big investors will remain beyond this week's expiration date.

Page 2: Australia faces significant challenges in getting foreign retailers to collect the goods and services tax on sales worth less than $1,000, academics have warned.

Page 3: The Australian government will use internationally generated greenhouse gas emission permits purchased for as little as 25c a tonne, a fraction of the Australian price, to meet its 2020 target under the Kyoto protocol.

Page 4: Malcolm Turnbull has dismissed calls to investigate the leak of a photo of the female public servant at the centre of the Jamie Briggs affair, amid attacks on the government over its attitudes to women.

Page 5: Consumers have started the year in an upbeat mood, thanks to confidence about household finances reaching a seven-year high.

Page 6: The Medicare levy surcharge may have to be increased to ensure high-income earners continue to opt in to private insurance, the peak body for health funds says.

Page 9: Eight of the 10 media companies that paid no income tax in Australia in 2014 are linked to the Murdoch family, Australian Taxation Office data reveals.

Page 13: Cricket Australia has held breakthrough talks with unregulated offshore bookmakers as it races to head off match fixing concerns amid signs more than $3 billion could be bet on this season's Big Bash League.

Page 14: Ports and rail group Asciano expects a speedy resolution to takeover talks after the competition watchdog delivers its decision on rival proposals in February.

Page 15: Dick Smith customers with dishonoured gift vouchers should call their banks and ask for a chargeback – and watch out for banks asking for a chargeback fee.

Dick Smith's long-time auditor Deloitte will come under scrutiny following the retailer's placement into voluntary administration as questions are asked about why the gatekeeper didn't raise red flags about refinancing problems and inventory issues in the company's full-year accounts in August

Page 16: Partners AWE and Origin Energy have given the green light to an initial $17.5 million investment to develop the first stage of their Waitsia gas project north of Perth, after sealing a deal to sell gas from the venture to retailer Alinta Energy.

 

The Australian

Page 1: The federal government has widened the scope of its $5 billion plan to spur new growth across northern Australia, putting commonwealth loan guarantees on the agenda in a renewed bid to build major infrastructure and resource projects.

Jamie Briggs resisted resigning his frontbench position on Christmas Eve, requesting more time from Malcolm Turnbull after being told a subcommittee of cabinet had found him in breach of ministerial standards.

Page 2: Special Minister of State Mal Brough has asked for a $108,000 pay cut and to move from a ministerial suite to a backbench office as he stands aside from his post while the Australian Federal Police investigate him for any wrongdoing in the Peter Slipper affair.

Page 4: Investors have lost $30 billion in the first two days of trading on the Australian sharemarket as fears for global growth and political stability sweep markets.

A scheme under which people volunteer to pay more for renewable energy is losing customers and sales and the price of a green conscience rises dramatically.

Business: Dick Smith's bankers have pulled the trigger on a potential fire sale of the retail chain, with the business falling into receivership owing creditors almost $300 million.

Controversial former billionaire Nathan Tinkler is preparing for war with the high-profile voices against coalmining in the Hunter Valley as he looks to rebuild his fallen business empire.

The report of the royal commission into trade unions and the Murray report into the financial system have made a “compelling case” for changes to allow people to choose their superannuation fund, Financial Services Council chief executive Sally Loane said yesterday.

Shares in Orthocell have soared after the tissue regeneration company was granted a patent for its “cell factory” technology in the United States.

 

 

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