23/02/2016 - 06:54

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23/02/2016 - 06:54

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Nalder wants to put roads under roads to ease congestion

Major Perth roads such as Canning Highway and Scarborough Beach Road could be duplicated by tunnelling underneath them under plans being considered by the State Government. The West

Office downturn hits ICWA sale ambitions

The Insurance Commission of WA has wound up what was said to be the State’s biggest property sell-off still holding two of its three Perth CBD office towers. The West

PM shuts off capital gains tax option

Prime Minister Malcolm Turnbull has whittled back the Coalition’s tax reform options by slamming the door on adopting Labor’s proposed crackdown on capital gains tax breaks and hinting strongly the government may leave negative gearing untouched altogether. The Fin

Newcrest pays $36m in class action

Newcrest Mining has paid $36 million to shareholders who brought a class action against the miner for breaching its continuous disclosure obligations bringing an end to a wretched period for Australia’s largest gold producer. The Fin

Arrium debt deal hits investors

Steel and materials group Arrium has moved to keep bankruptcy fears at bay by striking a $1.28 billion recapitalisation deal with US private equity group Blackstone. The Aus

Marine contractor sees gloomy forecast

MMA Offshore is counting the costs of the oil price meltdown and doesn’t see improvement on the horizon. The West

 

 

The Australian Financial Review

Page 1: Prime Minister Malcolm Turnbull has whittled back the Coalition’s tax reform options by slamming the door on adopting Labor’s proposed crackdown on capital gains tax breaks and hinting strongly the government may leave negative gearing untouched altogether.

Page 3: Big-name investors including billionaire James Packer, SEEK co-founder Paul Bassat, fund manager David Paradice and the Prime Minister’s son Alex Turnbull are backing taxi booking app goCatch to launch a new ride-sharing service in Australia.

The transactions used to calculate Australia’s main interest rate benchmark – which may have been rigged by ANZ Banking Group and other banks – are drying up because banks may be worried they will look like they’re trying to influence prices, a top Reserve Bank of Australia official said.

Page 4: Negative gearing may be losing its lustre for Australians, with tax office figures showing the value of rental losses claimed is falling and rental profits declared is rising.

Page 6: Modelling provided by Rice Warner shows that allowing 18- to 24-year-olds to opt out of compulsory superannuation would leave them on average $18,500 worse off at 65, and that they would still be $4600 worse off even if they had put the money towards paying down a mortgage.

Page 7: Meat lovers are expected to continue to pay dearly for beef steaks and topside roasts, despite a fall in demand from Australia’s biggest beef export market, the United States.

Page 13: United States group GSO Capital Partners (GSO) will provide embattled steel and iron ore group Arrium with up to $US927 million ($1.3 billion) in funding as part of a much-needed recapitalisation as the ASX-listed firm battles for survival.

BlueScope Steel chief executive Paul O’Malley says tough decisions, including 500 job cuts at its Port Kembla steelworks, underpinned a dramatic profit turnaround for the steel maker when much of the industry is losing money.

Page 15: UGL chief executive Ross Taylor said the engineering group’s diversity had protected it from the worst of the resources slump after stronger profits from its rail and asset services businesses swung it back into the black.

Page 16: Westpac is the latest bank to increase interest rates for business customers and blames the move on higher funding costs, following similar changes from National Australia Bank and ANZ Bank.

Page 19: Newcrest Mining has paid $36 million to shareholders who brought a class action against the miner for breaching its continuous disclosure obligations bringing an end to a wretched period for Australia’s largest gold producer.

Page 20: Vodafone Hutchison Australia’s rebound strategy is paying off as the number of mobile customers grew significantly last year and ramped up the pressure on rivals Telstra and Singtel-Optus.

Page 23: A member of one of Thailand’s most powerful and richest families has begun backing Australian tech start-ups, targeting ‘‘cash cow’’ firms he believes can expand rapidly across Asia.

Lawyers have given Australians the green light to beat the piracy crackdown by using virtual private networks (VPNs) to access online streaming content from overseas, saying that it is effectively futile for rights holders to pursue users under local laws.

 

 

The Australian

Page 2: The Australia Institute think tank has joined calls for a merger of the ABC and SBS, saying reform would provide “financial and political security for both organisations”.

Page 5: Voters will gain more control over how their votes are cast at the next election under Senate reforms despite a furious backlash from minor parties that face a “death warrant”.

Page 19: Steel and materials group Arrium has moved to keep bankruptcy fears at bay by striking a $1.28 billion recapitalisation deal with US private equity group Blackstone.

Page 21: Grocery wholesaler Metcash has bolstered its management ranks by cherry-picking executives from rivals Woolworths and Aldi, as well as snatching the former CFO of furniture group Fantastic Holdings.

 

 

The West Australian

Page 1: Major Perth roads such as Canning Highway and Scarborough Beach Road could be duplicated by tunnelling underneath them under plans being considered by the State Government.

Page 3: The number of Western Australians waiting for elective surgery has ballooned despite the opening of Fiona Stanley Hospital, as more urgent patients wait longer than medically recommended to be admitted.

Page 4: Senate election changes championed by Malcolm Turnbull have put the Government on an election footing, infuriated crossbenchers and exposed a deep rift in Labor ranks.

Page 9: The State Solicitor’s Office has not provided documentation or guidelines to ministers and agencies to define the terms “commercial-in-confidence”, “commercially sensitive” or “public interest”, a parliamentary committee has been told.

Page 11: Perth’s next event space may soon be found floating on the river, with plans for a two-storey open-air barge capable of mooring around the city.

Nationals WA deputy leader Mia Davies has pledged her support for the Liberals’ anti-protest laws, ensuring no repeat of her key role in bringing down stop-and-search legislation in 2010.

Page 12: The “staycation” — where local people holiday locally — has emerged as the mainstay and saviour of WA’s tourism industry.

Business: The Insurance Commission of WA has wound up what was said to be the State’s biggest property sell-off still holding two of its three Perth CBD office towers.

MMA Offshore is counting the costs of the oil price meltdown and doesn’t see improvement on the horizon.

Debt recovery company Pioneer Credit has more than doubled interim profit at $3.3 million and says it remains on track to hit $8.8 million in net earnings for the full year.

Southern Cross Austereo’s investment in big name radio talent is paying off, with the broadcaster lifting first-half profit 25.1 per cent to $43.4 million.

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