23/06/2016 - 06:31

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23/06/2016 - 06:31

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Huge pay-off found for business tax cut

A corporate tax cut would deliver Australians one of the largest pay-offs imaginable from a government decision, according to the analyst commissioned by Treasury to forecast the economic impact. The Fin

Former health reform adviser hits out at Medicare scare

Former Labor prime minister Kevin Rudd’s handpicked top health reform adviser has criticised current Labor leader Bill Shorten’s Medicare privatisation scare campaign as misleading and missing the main game. The Fin

Coles plan sustainable approach to price cuts

As Wesfarmers approaches its first fall in annual earnings since 2010, Coles boss John Durkan has all but ruled out risking profits and returns by embarking on a price war with Woolworths and Aldi, saying grocery price reductions will be ‘‘rational and sensible’’. The Fin

Wesfarmers cuts critics down to size

Wesfarmers chief Richard Goyder has launched a spirited defence of the company’s sprawling structure in the face of disappointing shareholder returns, saying the group is not “seduced by size” and is successful because it is a conglomerate, not in spite of it. The Aus

Rio Tinto spin-off not likely

Could Rio Tinto’s sweeping restructure set the stage for a spin-off of its unwanted assets, similar to BHP Billiton’s demerger of South32?

Alumina’s second bite at Alcoa

The legal paper war between Alcoa Inc and its suddenly uppity Australian partner in mining and processing has intensified, with little Alumina Limited accusing the US icon of unwarranted and self-serving ‘‘shyness’’ over the way it plans to subdivide itself. The Fin

Business chiefs back Remain

The bosses of more than half of Britain’s largest companies are urging voters to back Remain in the biggest endorsement from the business world in tonight’s Brexit referendum. The Aus

NSW adds fire to GST complaint

Malcolm Turnbull and Bill Shorten have both ruled out changing the GST carve-up after NSW complained its share of the consumption tax’s revenue had fallen to “just 81 per cent”. The West

Cost blowout blamed for MAX demise

Treasurer Mike Nahan has distanced the Liberal Party from the MAX light rail project, saying it was a conception of the public service that dramatically underestimated the cost. The West

Bunnings’ UK venture ‘not like Masters’

Bunnings bosses have strongly rejected assertions they are heading into a Masters-like situation with the hardware retailer’s expansion into Britain. The West

 

 

The Australian Financial Review

Page 1: A corporate tax cut would deliver Australians one of the largest pay-offs imaginable from a government decision, according to the analyst commissioned by Treasury to forecast the economic impact.

Page 3: Victoria’s Labor government plans to legalise ride-sharing services such as Uber under prompting from the Sex and Liberal parties, while in NSW the Labor opposition is trying to get Uber drivers a minimum wage and sick leave, superannuation and other benefits.

Labour hire companies would pay to join a compulsory national licensing regime under a Labor Party plan to impose penalties of up to $1.1 million for licence breaches.

Page 4: Fred Millar, one of the first commercial lawyers to make the shift to the boardroom, and go on to become one of the leading Australian business figures of his age, has died at the age of 93.

Page 7: Former Labor prime minister Kevin Rudd’s handpicked top health reform adviser has criticised current Labor leader Bill Shorten’s Medicare privatisation scare campaign as misleading and missing the main game.

Page 10: Businessman Clive Palmer is trying to have FTI Consulting sacked as liquidators of his Queensland Nickel refinery.

Page 13: China’s central bank has flagged that foreign companies will be allowed to issue shares on mainland stockmarkets ‘‘in the future’’ as part of its efforts to internationalise the yuan.

Page 17: As Wesfarmers approaches its first fall in annual earnings since 2010, Coles boss John Durkan has all but ruled out risking profits and returns by embarking on a price war with Woolworths and Aldi, saying grocery price reductions will be ‘‘rational and sensible’’.

Could Rio Tinto’s sweeping restructure set the stage for a spin-off of its unwanted assets, similar to BHP Billiton’s demerger of South32?

Page 19: InterOil founder Phil Mulacek says French oil major Total is the ‘‘big winner’’ from Oil Search’s $US2.2 billion takeover deal for the Papua New Guinea gas explorer, and the terms need to offer better value for his former company.

The sharpened focus on cost reduction and efficiency among mining companies has driven Telstra to make a leap into the provision of mining technology services in a move intended to pave the way for a new global growth business.

Page 20: Unfit British people and gym junkies in China are a new frontier for ASX-listed vitamins and sports nutrition company Vitaco, while bigger rival Swisse is also making solid headway in the UK market eight months into an expansion.

Page 21: Requiring banks to hold higher levels of equity capital only has a minuscule impact on the economy, according to a new research paper sponsored by the Centre for International Finance and Regulation (CIFR).

Page 22: The man who led the loss-making Masters hardware disaster for two years in Australia for Woolworths until early 2016 has been hired by Wesfarmers as an adviser to help oversee its push to conquer the British hardware market.

Target managing director Guy Russo has issued a challenge to global fashion retailers, saying brands such as H&M and Zara will ‘‘regret making the trip Down Under’’ once he has finished turning around the struggling department store chain.

Page 30: The legal paper war between Alcoa Inc and its suddenly uppity Australian partner in mining and processing has intensified, with little Alumina Limited accusing the US icon of unwarranted and self-serving ‘‘shyness’’ over the way it plans to subdivide itself.

 

 

The Australian

Page 6: Conservative voters are being targeted by an unlikely political alliance that could help put Bill Shorten in power, as the Liberal Democratic Party backs Labor in key marginal seats, harnessing votes from the “small government” party to help enact policies it opposes.

Page 7: Barnaby Joyce was determined not to arrive empty-handed for a National Press Club lunch yesterday, with his largesse stretching to $5 billion.

Page 9: The bosses of more than half of Britain’s largest companies are urging voters to back Remain in the biggest endorsement from the business world in tonight’s Brexit referendum.

Page 19: Wesfarmers chief Richard Goyder has launched a spirited defence of the company’s sprawling structure in the face of disappointing shareholder returns, saying the group is not “seduced by size” and is successful because it is a conglomerate, not in spite of it.

A “snap audit” of Commonwealth Bank’s pay practices conducted by the finance union has spurred a series of damning allegations against the nation’s biggest lender, including “wedging” staff between sales targets and customer interests, and underpayments.

Page 20: There is renewed speculation over Woolworths’ intentions for its $2 billion pub business, Australian Leisure and Hospitality Group, with some in the market adamant that a potential sale of the operation had recently been explored.

Page 21: The rally in oil prices to more than $US50 a barrel has prompted BHP Billiton to begin lining up dormant wells at its US onshore shale operations to become producers.

Page 24: Federal Reserve chairwoman Janet Yellen says the chances of recession this year are “quite low”, despite mounting worries that the US could be heading towards a downturn after seven years of tepid economic expansion.

Page 26: Westfield Corporation co-chief executive Peter Lowy says the company has dramatically transformed since the global financial crisis and urged the real estate industry to shift away from focusing on short-term US monetary policy and towards meeting deeper consumer needs.

 

 

The West Australian

Page 3: Researchers believe WA’s slowing economy may have contributed to a big fall in heavy drinking.

Page 6: Malcolm Turnbull and Bill Shorten have both ruled out changing the GST carve-up after NSW complained its share of the consumption tax’s revenue had fallen to “just 81 per cent”.

Page 11: Hotel and bar owners say the WA Government should consider a freeze on new inner-city liquor licences to combat a surge in venues that has put businesses under threat.

Page 16: Treasurer Mike Nahan has distanced the Liberal Party from the MAX light rail project, saying it was a conception of the public service that dramatically underestimated the cost.

Page 20: The Auditor-General has questioned the Building Commission’s reliance on self-disclosure for some character checks for builders’ licences.

Page 26: RSPCA Australia has urged the live export industry to agree to independent auditing of abattoirs and feedlots in Vietnam to show it is serious about stamping out animal cruelty.

Page 70: Bunnings bosses have strongly rejected assertions they are heading into a Masters-like situation with the hardware retailer’s expansion into Britain.

Page 71: The family behind Bannister Downs dairy and their business partner Gina Rinehart have bought more land around Northcliffe as part of plans to boost milk production.

Kimberley Diamonds yesterday confirmed it is the subject of a $22.7 million claim filed by the liquidator of the company’s failed Ellendale diamond mine, saying it will defend the action.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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