Labor, Libs leave $60b health hole
Both sides of politics now face a hospital funding ‘‘black hole’’ of more than $50 billion – or will have to revisit lifting the goods and services tax – after confirmation that neither the Coalition nor Labor has a plan to fund growing hospital costs over the next decade, health experts say. The Fin
Economists challenge ALP deficit claim
Labor’s accusation that the Coalition has tripled the budget deficit over the past two years makes as little sense as blaming the opposition for the global financial crisis that in 2009 wiped out the last surplus, say budget experts. The Fin
China slams the brakes on stimulus
The rally in China’s old economy is fading just three months after it began, according to official data released on Monday, which shows construction activity growing at its slowest pace in 16 years. The Fin
More women entering blokey directors’ club
The expected appointment of another woman at the helm of a top-200 company shows the “blokey” directors’ club is slowly being pried open. The Fin
Suppliers pull back supermarket spend
As earnings in the $90 billion food and grocery sector fall for the first time in more than a decade, suppliers are pulling back support from major retailers, cutting spending on rebates and loyalty programs in favour of investment in new products and exports. The Fin
Rio eyes $8.1b copper deal in Mongolia
Rio Tinto has sounded out potential partners for a $US6 billion ($8.16 billion)-plus tilt at privatising its huge Southern Mongolia copper project. The Fin
Shorten pinning his surplus hopes on surge in tax revenue
Bill Shorten is counting on a big rise in tax revenue in the fourth year of the budget forward estimates to put a Labor government on track to a surplus, admitting to voters last night that he would post bigger deficits than the Coalition in the three years before that point. The Aus
Leaders in Perth as vote starts
Malcolm Turnbull and Bill Shorten will campaign in Perth today as voting officially opens. The West
The Australian Financial Review
Page 1: Both sides of politics now face a hospital funding ‘‘black hole’’ of more than $50 billion – or will have to revisit lifting the goods and services tax – after confirmation that neither the Coalition nor Labor has a plan to fund growing hospital costs over the next decade, health experts say.
Jitters ahead of a US Federal Reserve interest rate decision this week and Britain’s vote on leaving the European Union next week will weigh on markets in coming days.
A partner at Silicon Valley venture capital firm Accel Ventures, Rob Solomon, said he had never seen a company attempt to list at a valuation so much higher than its revenue than music streaming service Guvera.
Prime Minister Malcolm Turnbull’s merchant bank Turnbull & Partners received an estimated $3 million in 1995 and 1996 from the sales of shares held through offshore companies administered by notorious Panama law firm Mossack Fonseca.
Page 6: Health funds plan to contribute millions to a Coalition plan to categorise insurance policies as gold, silver or bronze depending on how comprehensive their coverage is.
Page 7: Labor’s accusation that the Coalition has tripled the budget deficit over the past two years makes as little sense as blaming the opposition for the global financial crisis that in 2009 wiped out the last surplus, say budget experts.
Page 8: Transport projects will help drive the infrastructure sector in the coming year with an expected 26.5 per cent increase in turnover from road and rail construction, despite the sector recording an 8 per cent drop last year.
Page 10: The rally in China’s old economy is fading just three months after it began, according to official data released on Monday, which shows construction activity growing at its slowest pace in 16 years.
Page 12: The expected appointment of another woman at the helm of a top-200 company shows the “blokey” directors’ club is slowly being pried open.
Page 13: Westpac Banking Corp’s venture capital fund Reinventure has invested in Valiant Finance, a broking platform for small businesses that matches borrowers to the growing number of online lenders seeking to steal volume from incumbent banks.
Page 15: As earnings in the $90 billion food and grocery sector fall for the first time in more than a decade, suppliers are pulling back support from major retailers, cutting spending on rebates and loyalty programs in favour of investment in new products and exports.
Page 18: Rio Tinto has sounded out potential partners for a $US6 billion ($8.16 billion)-plus tilt at privatising its huge Southern Mongolia copper project.
The Australian
Page 1: Labor has now accepted more than $33 billion in Coalition spending cuts that it campaigned against in parliament over the past three years, a figure that may rise higher if it incorporates some of the Coalition’s cuts to superannuation into its costings.
Page 8: Bill Shorten is counting on a big rise in tax revenue in the fourth year of the budget forward estimates to put a Labor government on track to a surplus, admitting to voters last night that he would post bigger deficits than the Coalition in the three years before that point.
Page 9: Some of Perth’s business elite will pay $10,000 each to dine with Malcolm Turnbull at the luxury home of businessman John Schaffer today, as the Prime Minister proves an unexpected fundraising hit for the West Australian Liberal Party.
Page 17: Risk-aversion in global financial markets is on the rise as record low interest rates fail to revive economic growth and anxiety about a potential British exit from the European Union fuels demand for safe havens.
Microsoft announced last night that it had reached a deal to buy LinkedIn, the professional social networking company, for $US26.2 billion ($35.44bn) in cash.
Page 19: Shareholders in InterOil will vote on July 28 on the $US2.2bn merger approach from Oil Search, as confidence grows that the deal will achieve majority support from institutional investors.
Page 20: Interest is growing in one of the North West’s few remaining oil and gas exploration frontiers. Quadrant Energy and Carnarvon Petroleum are set to drill-test their recent Roc gas and oil discovery in the next month, while private explorer Pathfinder Energy is fielding interest from potential partners.
The West Australian
Page 11: Malcolm Turnbull and Bill Shorten will campaign in Perth today as voting officially opens.
Page 46: Australia’s offshore petroleum regulator has signed off on a record year, declaring the industry has managed to maintain high safety and environmental management standards despite the collapse in oil and gas prices.
CITIC’s massive Sino Iron project will be running at its full 24 million tonne-a-year rate within 18 months to two years, according to CITIC Pacific Mining chief executive Chen Zeng.
One of the three investment banks behind Wellard’s sharemarket float has urged investors to back the beleaguered livestock exporter.
AusGroup chairman Stuart Kenny concedes the contractor is facing the worst crisis of its 28-year existence but he is confident it can survive.
