15/08/2016 - 06:20

Morning Headlines

15/08/2016 - 06:20

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Morning Headlines

‘Harsh realities’ must be faced

Business Council of Australia president Catherine Livingstone has called on the political system to face up to the ‘‘harsh realities’’ of chronic budget deficits and slow wages growth, warning that lack of support for big business on both sides of politics was sapping confidence in the economy. The Fin

PM commits to fixing WA’s share and a ‘floor’ for all states

A meeting of the Council of Australian Governments later this year is expected to consider a proposal to put a floor under the share of goods and services tax any state can receive, after Prime Minister Malcolm Turnbull conceded West Australians ‘‘have every right to feel aggrieved’’ that the state got just $2 billion in GST revenue last year. The Fin

Growth spend in focus as BHP faces huge loss

BHP Billiton will unveil one of the biggest losses in its history on Tuesday, and could be tempted to respond with higher than expected spending on growth. The Fin

Tax collectors eye Airbnb, Uber

The federal government’s key tax adviser and the Australian Taxation Office have launched a fresh assault on the burgeoning cash economy, including considering sanctions for people who operate outside the tax system built up around technology disrupters Airbnb and Uber. The Aus

WIN holds talks over Nine shake-up

Bruce Gordon’s WIN Corporation is sounding out media executives over potential changes at Nine Entertainment Co as it steps up its campaign against the network’s senior management team. The Aus

Political heat rises over grid bid block

One of the most senior officials in the Hong Kong government says Scott Morrison’s shock decision to prevent a Hong Kong conglomerate from investing in the NSW electricity network should not be allowed to weaken commercial relationships between the two countries. The Aus

Barnett talks up personal integrity in plea for party support

Premier Colin Barnett has effectively fired the starter’s gun in the State election campaign, promising stability and experience while pleading for his colleagues and voters to let him “finish the job” he started in September 2008. The West

 

 

The Australian Financial Review

Page 1: Business Council of Australia president Catherine Livingstone has called on the political system to face up to the ‘‘harsh realities’’ of chronic budget deficits and slow wages growth, warning that lack of support for big business on both sides of politics was sapping confidence in the economy.

The head of Westpac’s wealth management division, Brad Cooper, has warned that Australia’s retirement income system is now a burning platform that urgently requires the new Parliament to agree on tightening top-end superannuation tax concessions.

Page 3: Ausgrid, the state-owned NSW electricity distributor, has contradicted Treasurer Scott Morrison’s claim it provides ‘‘critical’’ communication services to business and government. Mr Morrison said such services raised one of the key national security issues involved in his ban on selling Ausgrid to Chinese and Hong Kong bidders.

Federal Energy and Environment Minister Josh Frydenberg is confident state and territory leaders will agree to significant changes to the National Electricity Market this week as the crisis in South Australia again pushes prices to the maximum $14,000 a megawatt hour.

Page 4: A meeting of the Council of Australian Governments later this year is expected to consider a proposal to put a floor under the share of goods and services tax any state can receive, after Prime Minister Malcolm Turnbull conceded West Australians ‘‘have every right to feel aggrieved’’ that the state got just $2 billion in GST revenue last year.

Page 10: In assuming the leadership of Fox News last month, Rupert Murdoch pledged a fresh start at a network reeling from accusations that its long-time chairman, Roger Ailes, had overseen a culture of harassment and intimidation.

Page 12: Business is rapidly increasing its investment in Australia’s universities with top institutions reporting a large boost in research funding from companies.

Page 13: BHP Billiton will unveil one of the biggest losses in its history on Tuesday, and could be tempted to respond with higher than expected spending on growth.

Page 15: Outgoing Iluka Resources chief executive David Robb is disappointed that after 10 years at the helm of the world’s biggest zircon miner there is one ambition that goes unfulfilled.

Page 16: Australia’s biggest banks are raising record amounts of funding in international bond markets, taking advantage of a global search for yield as the domestic deposit war intensifies.

Page 18: Fund managers are sceptical that the commodity price rally that has put resources stocks among the best performers this year can continue.

Page 20: Weaker demand, slower growth, faster inflation – that’s the UK economy that the Bank of England sees in its crystal ball after the nation voted for Brexit. Now the first hard numbers are on the way.

 

 

The Australian

Page 2: The federal government’s key tax adviser and the Australian Taxation Office have launched a fresh assault on the burgeoning cash economy, including considering sanctions for people who operate outside the tax system built up around technology disrupters Airbnb and Uber.

Page 4: The technology provider at the centre of the census debacle, IBM, has won 136 federal government department contracts worth almost $700 million in the past year.

Page 18: Seven West Media is expected to pull out of its digital streaming joint venture with Presto, which is under extreme pressure from US giant Netflix and the Nine Entertainment and Fairfax Media service, Stan.

Page 20: Bruce Gordon’s WIN Corporation is sounding out media executives over potential changes at Nine Entertainment Co as it steps up its campaign against the network’s senior management team.

Page 21: One of the most senior officials in the Hong Kong government says Scott Morrison’s shock decision to prevent a Hong Kong conglomerate from investing in the NSW electricity network should not be allowed to weaken commercial relationships between the two countries.

 

 

The West Australian

Page 1: Premier Colin Barnett has effectively fired the starter’s gun in the State election campaign, promising stability and experience while pleading for his colleagues and voters to let him “finish the job” he started in September 2008.

Page 4: Colin Barnett has cautioned against arguing for too high a GST floor, lest WA overreach and lose the chance to secure a minimum guaranteed share of the national pool.

Page 7: About 50 Griffin Coal mine maintenance workers in Collie had their pay slashed about 19 per cent after their enterprise bargaining agreement was terminated yesterday.

Page 56: Global property investor Brookfield is angling for extra signs on its Brookfield Place towers in a move that could permanently alter the CBD skyline.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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