29/08/2016 - 06:06

Morning Headlines

29/08/2016 - 06:06

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Morning Headlines

US awards $5 million to BHP Billiton whistle-blower

The US government paid a bounty of nearly $5 million to a former employee of Australian mining giant BHP Billiton in a case that exposes the weakness of Australia’s whistle-blower regime. The Fin

Industry funds back Turnbull’s super package

Industry superannuation funds have urged Labor and other Senate parties to pass the government’s proposed reforms, arguing that while not perfect, the changes made the system more equitable and were a reasonable trade-off against competing priorities. The Fin

Rate cuts not helping retail: CEOs

Australia’s top retailers have warned further interest rates are cuts will have limited impact on consumer spending, but lower petrol prices and the fading effects of election uncertainty should support retail sales growth. The Fin

Woodside boss issues plea for long-term policy

Woodside Petroleum chief executive Peter Coleman has called on government to avoid making tax and other policy decisions year-by-year and instead make rules for the long-term or risk deterring investment in the capital-intensive oil and gas sector. The Fin

WA tax hike plan our biggest risk: Rio

Rio Tinto chief executive Jean-Sebastien Jacques has stepped up his attack on the West Australian Nationals’ iron ore tax hike plan, calling it reckless policy that would not be accepted by any industry in the world and would be self-defeating because it would cut royalties, tax payments and jobs. The Aus

PM faces big Budget headache

Malcolm Turnbull has made an appeal for a “patriotic” assault on the Budget deficit but faces white-anting from within his own Government over key plans to wind back lucrative superannuation tax concessions. The West

Barnett backs new saleyard

Colin Barnett has thrown his support behind plans to build new saleyards capable of handling more than 70,000 cattle a year on a former mine site in the South West. The West

 

 

The Australian Financial Review

Page 1: The US government paid a bounty of nearly $5 million to a former employee of Australian mining giant BHP Billiton in a case that exposes the weakness of Australia’s whistle-blower regime.

US Federal Reserve chair Janet Yellen and senior colleagues have prepped sceptical investors for a potential interest rate rise as soon as next month, a move that will probably lower the Australian dollar and reduce the chance of another local interest rate cut.

Page 3: Westpac has been accused of bullying a Sydney manager for more than two years before firing her because she had a pyschological issue and a back injury.

Medibank Private denies it covered up a decision to secretly slash coverage of common hospital tests for its 3.9 million customers, claiming in-store retail staff and telephone sales teams have been ‘‘unfairly quoted out of context’’ by the competition watchdog.

Page 4: Industry superannuation funds have urged Labor and other Senate parties to pass the government’s proposed reforms, arguing that while not perfect, the changes made the system more equitable and were a reasonable trade-off against competing priorities.

Page 12: A new report warns that vocational education is the ‘‘weakling’’ of Australian education, under threat from student exploitation, falling enrolments at government-funded providers, poor regulation and uncertainty about its future.

Page 13: Australia’s top retailers have warned further interest rates are cuts will have limited impact on consumer spending, but lower petrol prices and the fading effects of election uncertainty should support retail sales growth.

Page 15: Transport group McAleese will be forced to appoint McGrathNicol as voluntary administrator if distressed debt group SC Lowy does not give ground on one of two conditions it requires to back a restructure of the company.

Page 16: Woodside Petroleum chief executive Peter Coleman has called on government to avoid making tax and other policy decisions year-by-year and instead make rules for the long-term or risk deterring investment in the capital-intensive oil and gas sector.

Debate over the cause of last year’s fatal dam collapse at the Samarco mines in Brazil will resume this week, with a review commissioned by BHP Billiton and Vale expected to release a ‘‘technical report’’ into the tragedy.

Page 17: Westpac Banking Corp says data sharing between companies, individual consumers and governments can provide ‘‘immense value’’ to society and has told the Productivity Commission it can help the economy to take advantage of the opportunities.

NAB has signalled its intention to grow its margin lending book and challenge rival and segment heavyweight Commonwealth Bank with a leveraged product that promises no margin calls.

Page 18: Vocus Communications founder James Spenceley has plans to grow a $1 billion business with an ambitious venture into funds management.

 

 

The Australian

Page 1: Malcolm Turnbull will challenge the new parliament today to fast-track 25 priority reforms in a policy onslaught that prepares an “acid test” for Labor while racing to overcome crossbench fears that could wreck his agenda in the Senate.

Mining magnate Gina Rinehart is poised to enter the race for the S. Kidman & Co pastoral empire, alongside Chinese conglomerate Shanghai CRED Real Estate, with a joint bid expected to top $300 million.

Page 7: Australians will be forced to pay at least $1500 more for every new car under a federal government move to impose strict new rules on vehicle emissions.

Page 17: Rio Tinto chief executive Jean-Sebastien Jacques has stepped up his attack on the West Australian Nationals’ iron ore tax hike plan, calling it reckless policy that would not be accepted by any industry in the world and would be self-defeating because it would cut royalties, tax payments and jobs.

Singtel chief executive Chua Sock Koong has strongly defended Optus’s deal to buy the broadcast and digital rights to the English Premier League in Australia, saying telecommunications companies need content such as sports rights and Netflix to differentiate themselves in a competitive market.

Page 20: Commonwealth Bank institutional chief Kelly Bayer Rosmarin has hit back at critics of the expansion of her division, claiming the strategy was producing industry-leading returns and many of the headwinds lashing the sector wouldn’t last forever, including hot competition from Asian rivals awash with cash.

 

 

The West Australian

Page 1: Photos emerged yesterday of Colin Barnett’s developer son spruiking WA property to Chinese investors with his father’s image projected on a screen behind him during a recent business trip.

Page 4: Colin Barnett has stepped in to ensure Dean Nalder is a no-show at today’s Cabinet meeting in the Wheatbelt town of Moora.

Page 6: Malcolm Turnbull has made an appeal for a “patriotic” assault on the Budget deficit but faces white-anting from within his own Government over key plans to wind back lucrative superannuation tax concessions.

Page 9: Mum and dad investors could again get the chance to own the company that supplies their gas amid potential moves to float Alinta Energy on the stock exchange.

Page 57: Colin Barnett has thrown his support behind plans to build new saleyards capable of handling more than 70,000 cattle a year on a former mine site in the South West.

Andrew Forrest has lost a legal challenge to stop Cauldron Energy from drilling for uranium on his family cattle station near Onslow.

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