03/03/2016 - 06:44

Morning Headlines

03/03/2016 - 06:44

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WA on the outer in BHP’s new inner circle

BHP Billiton’s new Minerals Australia division chief, Mike Henry, has wasted no time in dismantling the company’s Perth iron ore power base, picking just one of the unit’s senior executives to join his inner sanctum. The West

Let broadband users quit contracts: Optus

Optus chairman Paul O’Sullivan has called for new laws allowing millions of internet users to quit their contracts once they are connected to the national broadband network and for Telstra to split its phone-line network from the main company. The Fin

Negative gearing dead so let the battle begin

The federal government has dumped plans to target negative gearing as part of its tax reform policy, clearing the way for a full-blown assault on Labor’s tax plans in the run-up to the federal election. The Fin

ANZ CEO Elliot eyes bigger domestic share

ANZ chief executive Shayne Elliott has set his sights on earning a higher share of the bank’s profits from domestic consumer and business banking, after putting his stamp on the lender by restructuring several key divisions. The Fin

Shorten picks Dodson as new WA senator

Labor leader Bill Shorten has intervened in the troubled WA division of the ALP by parachuting one of Australia’s most respected indigenous leaders to replace WA senator Joe Bullock. The West

Homebuyer fears spook Libs

Malcolm Turnbull is under pressure from Liberals in mortgage belt seats to back parts of Labor’s negative gearing changes over fears first-homebuyers will be permanently priced out of capital city property markets. The West

 

 

The Australian Financial Review

Page 1: Bank shares posted their strongest gains this year following news that the economy is growing faster than economists expected, hurting investors who bet the banks will be burned by a property crash.

Page 3: Australia’s tourism, education and property sectors have received corrupt Chinese money, according to recently opened court files, which reveal at least 76 cases of illicit funds being linked to Australia.

Page 5: The federal government has dumped plans to target negative gearing as part of its tax reform policy, clearing the way for a full-blown assault on Labor’s tax plans in the run-up to the federal election.

Page 9: Labor wants to strike a deal with the Greens and key crossbenchers to broaden the government’s crowdfunding laws after the start-up community warned the changes have been botched.

Page 13: Drawing a measurable link between board composition and gender pay gaps for the first time, the Gender Equity Insights 2016: Inside Australia’s Gender Pay Gap report found that increasing the share of women on boards from zero to equal representation was associated with a 6.3 percentage point reduction in the pay gap for full-time, management level staff.

Page 19: ANZ chief executive Shayne Elliott has set his sights on earning a higher share of the bank’s profits from domestic consumer and business banking, after putting his stamp on the lender by restructuring several key divisions.

Page 21: Southern Cross Media opened exploratory talks about selling its television assets, which could be worth $100 million to $120 million, to Ten Network Holdings in what would be the first deal made possible by proposed changes to media ownership laws.

Page 22: One out of three ASX 200 companies has poor disclosure when it comes to reporting environmental, social and governance practices – a trend that is set to change as superannuation funds increase the pressure on company compliance.

Page 23: Optus chairman Paul O’Sullivan has called for new laws allowing millions of internet users to quit their contracts once they are connected to the national broadband network and for Telstra to split its phone-line network from the main company.

Page 24: Almost a decade after Rio Tinto took its first bite of Ivanhoe Mines speculation is building that Rio may seek to grow its stake in the company that is now known as Turquoise Hill Resources.

Page 25: Ratings agency Moody’s has downgraded Woolworths’ credit rating amid concerns the retailer needs to make a decision on the leadership of its supermarkets business.

 

 

The Australian

Page 1: Bombshell economic modelling shows Bill Shorten’s negative gearing crackdown could lead to lower house prices, rent rises of up to 10 per cent, cost the budget more than it saves and cause unemployment to rise.

Page 4: Australia’s contentious racial discrimination laws have been singled out as a target for potential overhaul by the Australian Law Reform Commission, reigniting debate over whether the legislation unduly restricts free speech.

Page 19: Tatts Group could be forced into renewed takeover talks with rival Tabcorp after its shock legal loss to the Victorian government that will see the gaming major pay back more than $540 million to the state.

The BHP Billiton and Vale-owned Samarco iron ore joint venture was due overnight to sign a framework agreement covering the cost of the deadly November tailings dam collapse in the Brazilian state of Minas Gerais.

Page 21: One of the nation’s most seasoned and respected food industry executives has warned that the Foreign Investment Review Board is being unfairly used as a “xenophobic weapon’’ to delay or halt Chinese investment in Australia’s agricultural sector.

 

 

The West Australian

Page 1: Open war has erupted between Malcolm Turnbull and Tony Abbott, with Government MPs fearing relations between the two are sinking to levels last seen before Kevin Rudd’s “takedown” of Julia Gillard in 2013.

Page 3: Malcolm Turnbull is under pressure from Liberals in mortgage belt seats to back parts of Labor’s negative gearing changes over fears first-homebuyers will be permanently priced out of capital city property markets.

Page 4: Fine defaulters eyeing a short stay in jail to clear court-imposed penalties could instead have their welfare payments docked under a cash-grab being considered by Federal Social Services Minister Christian Porter.

Page 7: Health fund members will still be slugged with average premium rises more than triple the rate of inflation despite the Turnbull Government’s attempts to soften election-year increases.

Page 9: The popularity that made the Beaufort Street Festival the biggest of its kind has sounded its death knell, with organisers saying it had become “too big”.

Page 12: Labor leader Bill Shorten has intervened in the troubled WA division of the ALP by parachuting one of Australia’s most respected indigenous leaders to replace WA senator Joe Bullock.

Business: BHP Billiton’s new Minerals Australia division chief, Mike Henry, has wasted no time in dismantling the company’s Perth iron ore power base, picking just one of the unit’s senior executives to join his inner sanctum.

The Chinese coal giant given a $50 million helping hand by the WA Government is considering a peculiar foray into banking.

Premier Colin Barnett has intervened in the running of the Department of Agriculture and Food WA ahead of the findings of a review into its operations.

The US Navy has awarded Austal $US15 million ($20 million) in sustainment work for a warship program.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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