04/05/2016 - 06:31

Morning Headlines

04/05/2016 - 06:31

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Morrison carves up super to fund business tax cuts

The company tax rate for all businesses will be cut to 25 per cent within a decade and superannuation tax concessions for the wealthy have been slashed by $6 billion in a budget the Turnbull government hopes will spur economic growth, wipe out the deficit within five years and shield it from claims of unfairness in an election campaign to start next week. The Fin

Uni fee rises still likely

Fee rises and higher HECS repayments likely for university students but more help is being offered for the young unemployed to find jobs. The Fin

Yilka native title deal polishes a Gold Road

The strategic value of having the first processing plant on the emerging Yamarna belt is still at the top of Gold Road’s agenda, according to executive chairman Ian Murray. The West

China to try again for Kidman

A Chinese company twice blocked by the federal government in its attempts to take over the historic Kidman cattle empire will continue to try to secure the prized Australian agricultural giant. The Aus

RBA delivers Turnbull a pre-election rate cut

Expectations that Australian interest rates will be at 1.5 per cent by the end of this year are mounting after the Reserve Bank of Australia cut the cash rate by one-quarter of a percentage point in response to falling prices. The Fin

ABC told to cap staff pay rises, show savings

The Turnbull government is demanding future pay rises for ABC employees be capped at an average 2 per cent a year and “offset by productivity improvements”, in an unprecedented intervention in negotiations over a deal for the broadcaster’s 5000-strong workforce. The Aus

No rival bid for Aditya

Aditya Birla has told suitor Metals X it has received no superior takeover bid, clearing the way for the battle for control of the owner of the Nifty copper mine to draw to a close. The West

 

 

The Australian Financial Review

Page B1: The company tax rate for all businesses will be cut to 25 per cent within a decade and superannuation tax concessions for the wealthy have been slashed by $6 billion in a budget the Turnbull government hopes will spur economic growth, wipe out the deficit within five years and shield it from claims of unfairness in an election campaign to start next week.

Page B2: The scene is set fora fierce pre-election tax battle with Labor and the Greens slamming the federal budget as an unfair document which puts high income earners and big business before families and undermines Australia’s future.

Page B4: The superannuation industry effectively has the green light to develop a range of retirement products after the Coalition finally moved on Tuesday to extend the tax exempt status of pensions to products such as deferred annuities.

Page B7: Fee rises and higher HECS repayments likely for university students but more help is being offered for the young unemployed to find jobs.

Page 1: Expectations that Australian interest rates will be at 1.5 per cent by the end of this year are mounting after the Reserve Bank of Australia cut the cash rate by one-quarter of a percentage point in response to falling prices.

Page 6: In a sign of the ideological shift of the National Party on economic policy, one of its former leaders criticised the Coalition’s decision to block the purchase of the S. Kidman& Co grazing business by Chinese interests.

Page 15: New Woolworths chief executive Brad Banducci has kicked off the biggest restructuring in decades after admitting that poor execution and systems are hindering the retailer’s attempts to reverse sliding sales, profits and market share.

Page 18: Former QBE group executive Mike Emmett has been appointed chief executive of Cover-More Group, after Peter Edwards said he would leave the travel insurer for family reasons.

Page 20: Wesfarmers’ struggling resources business is set to lose its longstanding managing director Stewart Butel, who will retire in July after a decade in the role.

 

 

The Australian

Page 1: Scott Morrison has made a direct pitch to Labor’s lost tribe — tradies and working families — in an election budget without the usual frills that precede a dash to the polls.

Page WRA6: The elusive return to budget surplus still hinges on heroic forecasts, with the growth rate of nominal GDP — the dollar value of the Australian economy — expected to double within two years despite Reserve Bank fears about deflation.

Page WRA11: The cost of a new passport will jump to almost $300 from next year, as the government promises to deliver a more “technologically advanced” travel document for Australians.

Page 16: A Chinese company twice blocked by the federal government in its attempts to take over the historic Kidman cattle empire will continue to try to secure the prized Australian agricultural giant.

Page 17: The Turnbull government is demanding future pay rises for ABC employees be capped at an average 2 per cent a year and “offset by productivity improvements”, in an unprecedented intervention in negotiations over a deal for the broadcaster’s 5000-strong workforce.

Page 32: International education has been undervalued by almost $1 billion and is verging on a $20bn industry, a new study has found.

Page 40: One of New Zealand’s largest and most successful companies, Todd Corporation, is believed to be circling troubled iron ore miner and steelmaker Arrium, currently in the hands of voluntary administrators KordaMentha.

Page 41: Property investor and developer Mirvac Group is taking a selective approach to buying new residential sites, but says it is seeing no let-up in demand for apartments and homes even as price growth is slowing.

 

 

The West Australian

Page 4: The battle between taxi owners and the State Government over ride-share company Uber has to be resolved in the political arena and not the courts, a judge has ruled.

Page 7: A Dunsborough man is pioneering a high-tech and potentially revolutionary fishing method that is making waves in the angling world.

Page 16: A Senate committee scrutinising the $1.9 billion Perth Freight Link has recommended Commonwealth funding be redirected to other WA freight infrastructure projects.

Page 17: South Australia spends more than 20 times what the WA Government does on promoting defence industries, figures reveal.

Business: Aditya Birla has told suitor Metals X it has received no superior takeover bid, clearing the way for the battle for control of the owner of the Nifty copper mine to draw to a close.

The strategic value of having the first processing plant on the emerging Yamarna belt is still at the top of Gold Road’s agenda, according to executive chairman Ian Murray.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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