Morning Headlines

WA MPs’ exit bodes ill for ALP

Western Australia’s Labor leader has suggested an exodus of federal MPs in his state appears to be a sign of a lack of confidence that Labor can beat the Turnbull government. The Fin

NBN worth $29b less than it costs, PwC says

The national broadband network will be worth $27 billion when it is complete – less than half what it will cost, PwC says. The Fin

$135m first-half profit for Seven West Media

Tough advertising conditions continue to cast a shadow over the free-to-air television industry but Seven West Media chief executive Tim Worner believes the company will begin to reap the benefits of its investment in digital platforms, such as streaming service Plus7, over the next few years. The Fin

Paladin CEO Molyneux incentivised to secure deal

Paladin Energy’s newly appointed chief executive Alexander Molyneux could pocket a bonus worth almost double his base salary if he secures a deal that relieves the company of its debt pressure. The Fin

Shares surge as a2 prepares to milk China

Milk producer a2 Milk is expecting significant growth in direct sales of its Platinum infant formula to China after announcing another profit upgrade that sent its shares 23 per cent higher. The Aus

Derbies may cost more at new stadium

West Coast and Fremantle would have the option of increasing non-member ticket prices for blockbuster matches, including western derbies, at the new Perth Stadium under a variable pricing model being tested by the AFL. The West

Disruptions for stadium train line

Services on the Armadale-Thornlie rail line will be disrupted from tomorrow as work progresses on the $40 million Perth Stadium train station. The West

The Australian Financial Review

Page 1: The national broadband network will be worth $27 billion when it is complete – less than half what it will cost, PwC says.

Taxpayers about to earn more than $80,000 a year and move into the second-highest tax bracket may be the only ones granted relief in the May budget.

Coca-Cola Amatil managing director Alison Watkins delivered the first profit growth in three years and promised Australia’s largest soft-drink bottler will continue to plough cash into marketing, new products and prices to arrest declining soda consumption.

Page 3: Western Australia’s Labor leader has suggested an exodus of federal MPs in his state appears to be a sign of a lack of confidence that Labor can beat the Turnbull government.

Foreign entrepreneurs would be given four years to prove their idea is successful to qualify for a permanent visa under a plan being considered by the government.

Page 4: Labor’s plan to limit negative gearing will raise $7 billion a year in a decade, according to as-yet unreleased modelling conducted by the Parliamentary Budget Office.

Page 7: The Reserve Bank of Australia should have the power to limit investors’ access to tax deductions to ‘‘counterbalance’’ the effect of official interest rate cuts, an MP says.

Page 11: Healthcare chief executives Peter Gregg and Colin Goldschmidt, whose businesses have been stung by pathology funding cuts, have criticised the government’s health policy and warned that Australia was taking its first step toward a two-tiered system of care.

Page 13: Clive Palmer is confident his $250 million rescue package for Queensland Nickel will be accepted by creditors after claims he was more closely involved in the management of his Townsville refinery than publicly portrayed.

Page 23: Former brewer and grocer Ross Sudano appears to have pulled off one of the fastest retail turnarounds in recent history, reversing a three-year decline in earnings at The Reject Shop by slashing costs and luring shoppers back into stores with inflatable flamingos and discounted bath soap.

Domino’s investment in digital technology in Australia, New Zealand, the Netherlands and Belgium is driving double-digit sales growth in these regions

Page 26: The vineyard and luxury lodge developer who built the second-largest stake in Australia’s ailing Kakadu uranium miner has broken his silence and declared that all stakeholders would be better off if mining were to continue at the Ranger mine.

Page 31: Tough advertising conditions continue to cast a shadow over the free-to-air television industry but Seven West Media chief executive Tim Worner believes the company will begin to reap the benefits of its investment in digital platforms, such as streaming service Plus7, over the next few years.

Page 32: Paladin Energy’s newly appointed chief executive Alexander Molyneux could pocket a bonus worth almost double his base salary if he secures a deal that relieves the company of its debt pressure.

The Australian

Page 1: China has warned Australia to remember Japan’s militaristic past when forging closer defence ties with Tokyo and said Canberra should help Japan to avoid deviating from its post-World War II pacifism.

Page 2: Malcolm Turnbull has been asked to help South Australia’s Labor government negotiate a $60 million bailout package for troubled miner Arrium as its “at-risk” Whyalla steelworks faces being mothballed with the loss of up to 1200 jobs.

Page 3: Billionaire siblings James and Gretel Packer have secretly renegotiated their split of the family empire, sealing a fresh billion-dollar deal that simplifies their financial relationship, as the casino mogul works on a potential $8.5 billion privatisation of the Crown Resorts group.

Page 4: Deputy Liberal leader Julie Bishop has given her backing to besieged MP Craig Kelly, who is facing a preselection challenge by moderate factional warriors in his southern Sydney seat of Hughes.

Page 19: Commonwealth Bank’s current and former chief information officers are being sought as witnesses in the bribery case brought against two former IT executives charged with taking kickbacks in return for delivering a multi-million-dollar contract from the CBA.

Page 22: Primary Health Care is set to acquire private medical centres and convert some of its existing bulk-billing sites to payment models, as it looks to radically overhaul its revenue streams.

Milk producer a2 Milk is expecting significant growth in direct sales of its Platinum infant formula to China after announcing another profit upgrade that sent its shares 23 per cent higher.

Page 27: Dexus has posted a big jump in profits after riding a wave of property revaluations, as it approaches a forecasted peak in national office vacancy rates and enters the final stage of a proposed takeover of rival Investa Office Fund.

The West Australian

Page 4: Scott Morrison says Federal spending restraint means the States will have to increasingly look to their own Budgets to fund schools and hospitals.

Page 6: A report has revealed almost 10,400 children in WA are not fully immunised against contagious diseases, with some areas recording less than 85 per cent had all their vaccinations.

Page 7: Perth’s bone bank is pleading with the State Government for $10 million in the May Budget to pay for a new home, without which the 23-year-old service will be forced to close.

Page 12: West Coast and Fremantle would have the option of increasing non-member ticket prices for blockbuster matches, including western derbies, at the new Perth Stadium under a variable pricing model being tested by the AFL.

Page 16: Services on the Armadale-Thornlie rail line will be disrupted from tomorrow as work progresses on the $40 million Perth Stadium train station.

Business: Southern Cross Electrical Engineering has won work worth more than $10 million at BHP Billiton’s Jimblebar iron ore mine in the Pilbara.

The Supreme Court has allowed Roy Hill project manager Samsung C&T to seize a $7.5 million security bond from construction company Laing O’Rourke.