12/05/2016 - 06:35

Morning Headlines

12/05/2016 - 06:35

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Barnett in crisis as Labor surges

Colin Barnett’s leadership in Western Australia will come under serious pressure for the first time since he came to power in 2008, with the latest Newspoll showing Labor has extended its election-winning lead and the Premier’s personal appeal slumping to a record low. The Aus

BHP’s 70pc growth plan boosts stock

BHP Billiton chief executive Andrew Mackenzie has responded to concerns about the miner’s potential by laying out ambitious short and long-term growth options, but investors are cautious about his vow to increase the company’s value by 70 per cent. The Fin

PM’s ‘new economy’ goes down badly with Nationals

The National Party has distanced itself from the Coalition’s key economic campaign message because it is frightening many of its voters who are clinging to jobs in the so-called ‘‘old economy’’. The Fin

Retailers split over Sunday work

Retailers and hospitality industry employers have broken ranks over whether employees should have the right to refuse to work on Sundays if penalty rates are cut. The Fin

Solvency question over WA builder

Dozens of subcontractors claiming to be owed more than $1 million by Diploma Group fear a restructure of the builder and developer is designed to avoid payment. The West

WA budget in the red for second year

Debt and deficit in the WA budget will be lower than forecast after government spending was tightly controlled, the treasurer says. The West

Pastoral shake-up wins key support

The Kimberley-Pilbara Cattlemen’s Association looks set to support revised rangelands reform legislation which eases concerns about the abolition of the industry body with oversight of livestock operations covering tens of millions of hectares. The West

 

 

The Australian Financial Review

Page 1: BHP Billiton chief executive Andrew Mackenzie has responded to concerns about the miner’s potential by laying out ambitious short and long-term growth options, but investors are cautious about his vow to increase the company’s value by 70 per cent.

The National Party has distanced itself from the Coalition’s key economic campaign message because it is frightening many of its voters who are clinging to jobs in the so-called ‘‘old economy’’.

Page 4: Prime Minister Malcolm Turnbull has pushed back at an agitated Coalition support base by declaring that proposed restrictions on superannuation that hit the rich are not retrospective and will not be changed.

Page 8: Former Reserve Bank of Australia board member Warwick McKibbin has become the latest high-profile economist to call for more infrastructure spending rather than extra interest rate stimulus to spur the economy and lift slowing inflation.

Page 9: Retailers and hospitality industry employers have broken ranks over whether employees should have the right to refuse to work on Sundays if penalty rates are cut.

Page 10: National Australia Bank is set to follow its peers in tightening lending conditions for Chinese buyers, a move that could delay or derail dozens of impending settlements, according to one mortgage broker.

Page 15: Colonial First State has quit its stake in James Packer’s Crown Resorts citing concerns on governance and board independence and its move away from non-gaming assets including a $US100 million investment in Robert De Niro’s Nobu restaurant chain.

Page 17: China import restrictions trickle down China’s tightening of infant formula regulations has hit Australia’s biggest agribusiness GrainCorp.

APN News & Media’s largest shareholder Allan Gray, which also owns shares in Fairfax Media, has backed a merger of the two companies’ New Zealand businesses.

Page 19: Oil and gas player AWE has rejected outright an unsolicited $421 million cash takeover proposal from US private equity fund Lone Star, despite the offer being well above several analysts’ target prices.

Page 20: The chief executive of Trustpower has foreshadowed a major investment drive in Australia in new wind and solar power plants after the Kiwi utility’s proposed demerger, which has been spurred by the tremendous growth opportunity it sees here.

Page 27: ASX-listed uranium stocks are in for an extended tough time, with the nuclear royal commission predicting depressed uranium prices won’t rise until at least 2018.

 

 

The Australian

Page 1: Chinese students are trouncing their Australian counterparts in English and maths but cost half as much to educate, the latest data shows, as schools funding becomes a key election issue.

Colin Barnett’s leadership in Western Australia will come under serious pressure for the first time since he came to power in 2008, with the latest Newspoll showing Labor has extended its election-winning lead and the Premier’s personal appeal slumping to a record low.

Page 2: The Australian Defence Force has paid out at least $75,138 to cover the cost of fines incurred by its personnel for traffic offences.

Page 5: Labor’s candidate in the federal seat of Fremantle, Maritime Union of Australia official Chris Brown, will be dumped by the party for failing to disclose two “spent” convictions from the 1980s, including the assault of a police officer.

Page 8: More than a million people would be hit by the changes to superannuation and many more “rattled”, the Association of Superannuation Funds of Australia said yesterday.

Page 21: A sluggish world market for Australian wheat, low export shipments and a poor harvest have delivered listed grain handling and trading giant GrainCorp its worst half-yearly profit result in six years.

Page 22: Andrew Mackenzie’s road map for BHP Billiton to secure an increase of as much as $70 billion in its base value without relying on a significant bounce in commodity prices has well been received.

 

 

The West Australian

A multi-pronged State Government war on meth will be the centrepiece of today’s Budget as Colin Barnett concedes the scourge has gripped WA’s suburbs and regions and is tearing families apart.

Dozens of subcontractors claiming to be owed more than $1 million by Diploma Group fear a restructure of the builder and developer is designed to avoid payment.

Australia needs a national plan to stop declining performances in schools, an education report has warned.

Debt and deficit in the WA budget will be lower than forecast after government spending was tightly controlled, the treasurer says.

After bursting the bubble of post-Olympic depression, WA archer Taylor Worth has his sights on Rio redemption.

Australia needs a national plan to stop declining performances in schools, an education report has warned.

Malcolm Turnbull was once a director of an offshore company set up by Mossack Fonseca, data from the now public Panama Papers reportedly shows.

The Kimberley-Pilbara Cattlemen’s Association looks set to support revised rangelands reform legislation which eases concerns about the abolition of the industry body with oversight of livestock operations covering tens of millions of hectares.

Perth construction company CPD Group has suffered a financial collapse and suspended trading.

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