01/06/2016 - 06:33

Morning Headlines

01/06/2016 - 06:33

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Morning Headlines

Mike Nahan and Dean Nalder in secret talks to topple Barnett

Treasurer Mike Nahan and Transport Minister Dean Nalder held secret talks in 2014 where they discussed overthrowing Premier Colin Barnett. The West

Fresh produce hurdle for Aldi as supermarket competition heats up

Aldi threatens to strip hundreds of millions of dollars in annual sales from rival supermarkets in WA by the end of the decade but will do even better if it can match Coles and Woolworths on fresh produce, new research says. The West

Top 49pc tax rate battleground

Confirmation by Labor that it would make the temporary deficit levy permanent has been slammed by Malcolm Turnbull as unfair because unless individuals and business were allowed to flourish, there would be no growth to fund such priorities as health and education. The Fin

HNA buys into Virgin Australia

China’s largest private airline operator will buy 13 per cent of Virgin Australia in a deal the Australian airline says will help it capitalise on the growing Chinese travel market. The Fin

Doctor glut to blow out Medicare

A growing glut of doctors has forced GPs to “chase patients” and pushed bulk-billing rates to record highs, leaving Medicare vulnerable to overuse that will add to its projected cost blowout of more than $35 billion within a decade. The Aus

Fears wage rise will hit hiring

Unions and employers are at loggerheads over a $15.80 increase in the minimum wage amid claims the weekly rise will discourage companies from hiring more staff just as company profits fall. The Aus

Galaxy looks to future after merger

Galaxy Resources chairman Martin Rowley says the lithium miner will waste no time in trying to capitalise on its $216 million tie-up with General Mining Corporation, saying the merged company will consider a Hong Kong listing and look to development options for its Canadian lithium projects. The West

 

 

The Australian Financial Review

Page 1: Confirmation by Labor that it would make the temporary deficit levy permanent has been slammed by Malcolm Turnbull as unfair because unless individuals and business were allowed to flourish, there would be no growth to fund such priorities as health and education.

Page 3: The Fair Work Commission has vetoed a contentious pay deal struck by Coles and the shop assistants union, ruling that some workers are likely to be significantly worse off under the agreement.

Page 6: Labor will not reverse the Coalition’s $47 million spend to bring Hollywood blockbusters Alien: Covenant and Thor: Ragnarok to Australia, despite promising to return funds to local arts bodies hit by government cuts.

Page 7: An unexpected jump in iron ore and coal exports and a tourism surge stoked speculation the economy accelerated last quarter, potentially providing some good pre-election news for the Turnbull government.

Page 9: China’s largest private airline operator will buy 13 per cent of Virgin Australia in a deal the Australian airline says will help it capitalise on the growing Chinese travel market.

Page 13: Grocery prices at Woolworths and Coles are still more expensive than at Aldi, but the gap has fallen as the big chains invest more than $1 billion into promotions and shelf prices.

Page 15: Some of the part-timers and students who’ve been involved in the ‘‘suitcase trade’’ of buying up large amounts of vitamins in Australia and selling them online in China will bow out because of tougher regulations, but an online expert says the appetite for Australian brands will keep rising for at least another five years.

Page 16: ACFS lawsuit postpones takeover deal Court approval of Asciano’s takeover by Qube and Brookfield Infrastructure will be delayed until the end of July as the ports and rail group tackles a lawsuit and tries to secure regulatory approval for the $9.05 billion deal.

Consumers’ desire to cut their ongoing electricity costs and take charge of their power use is driving keener than expected interest in home battery systems, although developers caution that policy reforms will be needed to maximise the benefits of the technology for grid owners and households.

Page 27: On the back of bullish analyst demand projections and keen investor interest, tens of local players have joined the hunt for lithium, including Andrew Forrest-backed nickel miner Poseidon Nickel and resurrected iron ore miner Atlas Iron.

 

 

The Australian

Page 1: A growing glut of doctors has forced GPs to “chase patients” and pushed bulk-billing rates to record highs, leaving Medicare vulnerable to overuse that will add to its projected cost blowout of more than $35 billion within a decade.

Page 2: Unions and employers are at loggerheads over a $15.80 increase in the minimum wage amid claims the weekly rise will discourage companies from hiring more staff just as company profits fall.

Page 6: Chinese demand for Australian LNG and tourist attractions has emerged as a surprise boost to economic growth, with net exports surging to their highest level in 13 years.

Page 9: Families are paying almost $90 per child on average for each day in childcare and the costs are even higher in city centres, where prices balloon to $200 a head, new data analysis shows.

Miners are incensed by the Australian Conservation Foundation’s scorecard rating the Coalition 11 out of 100, declaring the ACF’s policies threaten the steel industry and undermine Asia’s power supply.

Page 21: Oil Search boss Peter Botten has highlighted InterOil’s funding issues and the supposedly small chance of longer-term reserve boosts at the giant Elk/Antelope field as he meets US investors ahead of an attempt by InterOil’s founder to wrest back control of the company.

Fortescue Metals Group chairman Andrew Forrest is calling on Australian business leaders to follow his example and check their supply chains for instances of slavery and forced labour.

 

 

The West Australian

Treasurer Mike Nahan and Transport Minister Dean Nalder held secret talks in 2014 where they discussed overthrowing Premier Colin Barnett.

Aldi threatens to strip hundreds of millions of dollars in annual sales from rival supermarkets in WA by the end of the decade but will do even better if it can match Coles and Woolworths on fresh produce, new research says.

Indian couple Pankaj and Radhika Oswal ended up with nothing from the "Titanic" sale of their stake in the Australian fertiliser business they founded, their $2.5 billion compensation trial against ANZ and the receivers has heard.

Galaxy Resources chairman Martin Rowley says the lithium miner will waste no time in trying to capitalise on its $216 million tie-up with General Mining Corporation, saying the merged company will consider a Hong Kong listing and look to development options for its Canadian lithium projects.

Former State Architect Geoffrey London wants the WA Government to establish a display village for higher-density housing.

It is vital LandCorp takes urgent action to fix an imbalance in the availability of industrial land in Perth and Peel, which is critical to social and economic growth of the State, according to a statutory five-year review of the government trading enterprise.

An estimated $4.5 billion will be invested in Perth shopping centres by 2020, with more than half of it spent expanding shopping complexes to create public places where customers can socialise, eat, be entertained and shop.

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