22/06/2016 - 06:39

Morning Headlines

22/06/2016 - 06:39

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Morning Headlines

PM urged to hold nerve on tax cuts

Business has urged Malcolm Turnbull to show more backbone over his 10-year plan to cut the 30 per cent company tax rate, saying the Prime Minister risks harming investor confidence by arguing there is no guarantee the policy will ever be delivered in full. The Fin

Home values ‘to fall up to 15pc’ under Labor

House prices may fall as much as 15 per cent during the four years it will take for the market to absorb the Labor Party’s planned negative gearing changes, SQM Research says. The Fin

Cash rate ‘still high’: Cormann

Finance Minister Mathias Cormann has described Australia’s record-low official cash rate as ‘‘high’’ by global standards and suggested governments should deliver budget policies that help create lower borrowing costs to spur economic growth. The Fin

BHP to cut coal costs, but door open to deals

BHP Billiton will slash its coal costs by $US600 million ($804 million) by the middle of 2017, but has left the door open to acquisitions as it looks to boost returns in the face of depressed prices. The Fin

AMA head rejects Shorten’s Medicare scare campaign

Bill Shorten has been called out over his scare campaign against “privatising Medicare”, as the nation’s peak doctors’ group rejects his claims and backs the case for fixing the “rusty” payment system that supports universal healthcare. The Aus

AdBri eyes Lafarge-Holcim unit

Construction materials group Adelaide Brighton says it has done detailed work on a potential $2 billion acquisition of the Australia and New Zealand operations of global group Lafarge-Holcim, including a plan to address competition issues raised by buying its local cement business. The Aus

Government money calls shots

The introduction of the demand-driven system has increased universities’ dependence on government as the major source of revenue, with new research showing efforts to recruit international students have slowed since 2009. The Aus

WA left out of big cash pledges

West Australian voters are again being dudded as the major parties spend up on big-ticket items to woo voters in marginal seats on the east coast. The West

Aspirants talk up cash flow

Aspiring gold miner Echo Resources yesterday put a $2.9 million price tag on the development of a shallow open pit mining operation at its Julius project near Wiluna on a day when its Goldfields peer Empire Resources also talked up its prospects. The West

 

 

The Australian Financial Review

Page 1: Business has urged Malcolm Turnbull to show more backbone over his 10-year plan to cut the 30 per cent company tax rate, saying the Prime Minister risks harming investor confidence by arguing there is no guarantee the policy will ever be delivered in full.

Page 3: House prices may fall as much as 15 per cent during the four years it will take for the market to absorb the Labor Party’s planned negative gearing changes, SQM Research says.
Page 5: Nationals senator John Williams criticised Treasurer Scott Morrison’s decision to give a Chinese investor three extra years to reduce its stake in the giant Cubbie Station in the middle of an election campaign when the National Party is under pressure over foreign ownership of land.

Page 9: Finance Minister Mathias Cormann has described Australia’s record-low official cash rate as ‘‘high’’ by global standards and suggested governments should deliver budget policies that help create lower borrowing costs to spur economic growth.

Page 10: Another downturn in the stock price of Credit Suisse has put Tidjane Thiam, the bank’s embattled chief executive, on the defensive again.

Page 14: Strong demand for government and financial services advice drove KPMG Australia to higher profits for the third consecutive year.

Page 15: BHP Billiton will slash its coal costs by $US600 million ($804 million) by the middle of 2017, but has left the door open to acquisitions as it looks to boost returns in the face of depressed prices.

Page 18: Metcash chief executive Ian Morrice has brushed off fears Australia’s dominant wholesaler could lose market share to new players in grocery, convenience and hardware distribution, pointing to the strength of Metcash’s brands and services.

BHP Billiton chief executive Andrew Mackenzie says the global oversupply of mining commodities will drag on for another decade.

Page 19: The Reserve Bank will discourage the nation’s banks from owning more than 30 per cent of all government bonds to prevent the functioning of the bond market from becoming ‘‘impaired’’.

Page 31: A federal scheme that requires commercial buildings to disclose their energy efficiency will be expanded to include more property, with its benefits now proven.

 

 

The Australian

Page 2: Law firm Maurice Blackburn has been forced to answer questions from victims of the 2009 Black Saturday bushfires over its handling of a landmark $494 million settlement that is overdue and months from being paid out.

Page 8: Bill Shorten has been called out over his scare campaign against “privatising Medicare”, as the nation’s peak doctors’ group rejects his claims and backs the case for fixing the “rusty” payment system that supports universal healthcare.

The ALP’s 50 per cent renewable energy target by 2030 would cost blue-collar jobs and hit poor people hardest, according to former Queensland Labor treasurer Keith De Lacy.

Page 10: The Nick Xenophon Team has been caught out over plans to cut staff penalty rates, unions say.

Page 19: Major Australian dairy company Bega Cheese has dropped the price it will pay its 500 dairy farmers for their milk from July, but has held it above the key psychological $5 a kilogram of milk solids mark, or 37.4c a litre.

The popularity among American investors and collectors of a silver coin emblazoned with a kangaroo has caught the Perth Mint by surprise.

Construction materials group Adelaide Brighton says it has done detailed work on a potential $2 billion acquisition of the Australia and New Zealand operations of global group Lafarge-Holcim, including a plan to address competition issues raised by buying its local cement business.

Page 21: Rupert Murdoch’s News Corporation will seek to extract significant printing and distribution synergies from its $36.6 million acquisition of APN News & Media’s Australian Regional Media newspaper business.

Streaming service Guvera is understood to be exploring a listing on the Newcastle-based National Stock Exchange, after the bigger rival ASX blocked its mooted $1.4 billion listing last week.

Page 23: The Commonwealth Bank has poached another top-level executive from insurance giant and regional lender Suncorp, as recently-appointed chief Michael Cameron appears to be struggling to retain key management personnel amid fierce competition in the insurance sector.

National Australia Bank’s $45 billion financial advice arm to the wealthy, JBWere, has cut commission rates for its 120 advisers, becoming the latest major player to overhaul remuneration as the industry strives for sustainable profitability.

Page 25: A handful of multinationals and senior business titans came out in force on Monday to voice fresh support for continued British membership of the EU, underscoring the high stakes many corporate chieftains see in this week’s referendum.

Page 30: The introduction of the demand-driven system has increased universities’ dependence on government as the major source of revenue, with new research showing efforts to recruit international students have slowed since 2009.

Page 31: An analysis of vocational education and training activity has raised questions about the quality of training in private colleges, which constitute almost two-thirds of training providers.

 

 

The West Australian

Page 1: West Australian voters are again being dudded as the major parties spend up on big-ticket items to woo voters in marginal seats on the east coast.

Page 12: The $1.9 billion MAX light rail, a key Liberal promise for the 2013 election campaign, appears officially dead after its omission from the Government’s transport plan for Perth at 2050.

West Business 1: The Singapore billionaire who has emerged as marine service provider MMA Offshore’s biggest shareholder took six months to declare his stake to the stock exchange.

Page 2: Aspiring gold miner Echo Resources yesterday put a $2.9 million price tag on the development of a shallow open pit mining operation at its Julius project near Wiluna on a day when its Goldfields peer Empire Resources also talked up its prospects.

Page 3: The State Government has filled one of its longest-standing senior economic vacancies, with Treasurer Mike Nahan appointing Department of State Development deputy director-general Nicky Cusworth as permanent chair of the Economic Regulation Authority.

Page 5: Gina Rinehart says government red tape continues to stifle the resources industry amid signs sentiment is starting to turn after several bleak years.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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