Morning Headlines

Stamp duty, land tax idea still on

Federal Treasurer Scott Morrison continues to support the states swapping stamp duties for a land tax on every residential property but insists making the move is up to state governments. The Fin

Companies face shareholder backlash on pay

Chief executives and chairmen of major companies including Medibank Private, Commonwealth Bank, Wesfarmers, Lendlease, Ramsay Health Care, UGL, Sims Metal, Treasury Wines Estates and Domino’s Pizza face an investor backlash over ‘‘soft’’ and ‘‘poorly explained’’ bonuses during the biggest week of the year for AGMs. The Fin

Buffett war chest grows to $110 billion

Warren Buffett is sitting on more cash than ever. His Berkshire Hathaway had almost $US85 billion ($110 billion) on its books as of September 30, according to a regulatory filing late on Friday. That’s up from$US72.7 billion on June 30. The Fin

Ingham shares hatch to wary IPO market

The debut of the $1.2 billion Inghams Group float on the ASX on Monday will be a test for the Australian initial public offerings market which has been dealt a blow by the repricing of three floats, including that of the chicken processor. The Fin

Gas price hikes risk jobs in food sector

Major food manufacturers face an energy price shock with new gas contracts up to 70 per cent higher than last year as jobs growth and capital investment stalls in a sector that makes up one-third of the nation’s manufacturing base. The Aus

Funds to rebel on CBA pay report

Commonwealth Bank is under growing pressure to revise its pay policies after a raft of big superannuation funds opted to vote against the bank’s remuneration report and the grant of performance rights to chief executive Ian Narev at this week’s annual meeting. The Aus

We’ll be anything but boring: FMG

For the first time in its history, Andrew Forrest’s Fortescue Metals Group is at risk of becoming a “boring” company — an evolution that will frustrate the journalists and observers who have plotted its many twists and turns, but will please its shareholder base and broaden its investment appeal. The Aus

Miners’ survey says Grylls in hot seat

Brendon Grylls is at serious risk of losing his Pilbara seat in the March State election, according to a poll that kick-starts a ferocious advertising campaign by the big miners against the Nationals leader’s $5-a-tonne iron ore tax. The West

Navy work funds up for grabs

West Australian small and medium-sized businesses are eligible for $25,000 grants to better prepare themselves to compete for contracts linked to the Royal Australian Navy’s $89 billion rearmament program. The West

The Australian Financial Review

Page 1: The Turnbull government is on track for a sorely needed win in Parliament with Labor all but certain to back its revamped set of changes to superannuation that put a lifetime cap on contributions and limits on retirement accounts.

Page 2: Efforts to build a nuclear waste facility in South Australia were setback on Sunday when more than two-thirds of a Citizens’ Jury of 350 people opposed the idea.

Federal Treasurer Scott Morrison continues to support the states swapping stamp duties for a land tax on every residential property but insists making the move is up to state governments.

Page 3: The head of the union representing Australia Post and telecommunications workers in Queensland is facing charges over child pornography.

Page 4: Federal Energy and Environment Minister Josh Frydenberg has warned there will be a devastating hit to business in Victoria from the decision by French owner Engie to close Hazelwood power plant next year.

AGL Energy has rejected accusations from the CFMEU union that it is threatening Victoria’s power supply by its declaration it would be prepared to lock workers out of its Loy Yang A power station in Victoria if a strike is called.

Page 5: Chief executives and chairmen of major companies including Medibank Private, Commonwealth Bank, Wesfarmers, Lendlease, Ramsay Health Care, UGL, Sims Metal, Treasury Wines Estates and Domino’s Pizza face an investor backlash over ‘‘soft’’ and ‘‘poorly explained’’ bonuses during the biggest week of the year for AGMs.

Page 8: The superannuation industry will resist any plan to use a fee-based auction system to decide which super funds will gain a share of billions of dollars-worth of default contributions.

Local gadget start-up Plox has scored a deal with Disney which will allow it to take its levitating Star Wars -themed speakers global.

Page 9: Georgia Tech artificial intelligence pioneer Ashkok Goel says his ground-breaking use of artificial intelligence to interact with students will soon be cheap and widely available.

Page 12: Warren Buffett is sitting on more cash than ever. His Berkshire Hathaway had almost $US85 billion ($110 billion) on its books as of September 30, according to a regulatory filing late on Friday. That’s up from$US72.7 billion on June 30.

Page 13: The debut of the $1.2 billion Inghams Group float on the ASX on Monday will be a test for the Australian initial public offerings market which has been dealt a blow by the repricing of three floats, including that of the chicken processor.

Page 15: Nestle Oceania’s head of confectionery, Martin Brown, realised the power of personalisation when the global food giant opened a pop-up Kit Kat store in Sydney last August.

Page 16: UGL’s board faces a potential third strike against its remuneration report at its annual meeting as it hands down its verdict on CIMIC’s $524 million hostile takeover bid.

Technology is no longer a luxury trend for cashed-up multinational miners but is a crucial ingredient for any company chasing success in the resources sector, according to the head of Telstra’s new mining division Jeannette McGill.

BHP Billiton’s decision to break with decade-long practice and use hedging in its United States shale gas operation appears to have been perfectly timed, with the Henry Hub gas price plunging 21.5 per cent in the past week alone.

Page 17: You don’t need to remind UBS co-head of equities Chris Williams and managing director of investment banking, Anthony Sweetman, of the skittishness of markets right now.

Page 18: SkyBus plans to take its express airport services to other cities around Australia and overseas after successfully expanding in Melbourne and making its first foreign foray into New Zealand.

Page 19: The path to Federal Reserve policy tightening this year has one final hurdle to clear: a potential Donald Trump victory in the US presidential election.

Page 27: The Turnbull government will need to rally a crossbench in upheaval if it is to pass its proposed changes to media ownership regulation despite expectations a Senate committee will recommend the bill be voted through.

Nine Entertainment and Southern Cross Austereo are set to announce the launch of local news bulletins into regional areas to be progressively rolled out from February.

Page 28: Battlelines are being drawn after Shopping Centres Australasia Property Group (SCA) revealed it had established a 4.9 per cent stake in rival property trust Charter Hall Retail REIT.

Page 30: Farming company Australian Food & Fibre, the largest tenant of US financial services giant TIAA’s Westchester in Australia, has reported a full-year net loss of $9.7 million, down from last year’s $13.3 million profit.

Page 31: The $827 million Charter Hall Long WALE REIT will list on Tuesday, after completing the largest ever initial public offering for a diversified property trust in the Australian market.

The Australian

Page 1: Bill Shorten is under attack for policies that had Labor in government hand the French owners of the Hazelwood power station more than $500 million to keep it open, while in opposition pursuing policies aimed at closing it.

Page 3: More than 60,000 of the richest people in China plan to pour millions of dollars into Australian real estate over the next three years, giving new life to a property boom that had been tipped to fade.

He may have just become the face of Australia’s largest restaurant group, in a deal worth some $100 million, but Neil Perry’s celebrations over the weekend were low-key: just a bottle of quality wine and a dinner date with his wife.

Page 6: Major food manufacturers face an energy price shock with new gas contracts up to 70 per cent higher than last year as jobs growth and capital investment stalls in a sector that makes up one-third of the nation’s manufacturing base.

Page 10: Indonesian officials are seeking to reschedule President Joko Widodo’s first state visit to Australia later this month after he was forced to postpone his trip at the weekend amid a deepening domestic political crisis.

Page 17: Commonwealth Bank is under growing pressure to revise its pay policies after a raft of big superannuation funds opted to vote against the bank’s remuneration report and the grant of performance rights to chief executive Ian Narev at this week’s annual meeting.

Future Fund chairman and former federal treasurer Peter Costello says Australians are right to baulk at making voluntary contributions to their superannuation because of the extreme complexity that now plagues the nation’s retirement savings system.

As global financial markets grapple with the possibility of Donald Trump being elected US president this week, Henderson Global Investors will be looking for opportunities.

Page 18: For the first time in its history, Andrew Forrest’s Fortescue Metals Group is at risk of becoming a “boring” company — an evolution that will frustrate the journalists and observers who have plotted its many twists and turns, but will please its shareholder base and broaden its investment appeal.

Page 19: Privately-owned global surfwear business Rip Curl has blamed the distressed state of sports apparel distribution in North America and declining regional sales for a more than 50 per cent slump in its full-year profit, while the collapse of rival surfwear retailers had left it holding bad debts.

Page 21: Industrial property powerhouse Goodman Group is looking to complete the sale of more than $1 billion worth of property in Britain and Australia as it continues to cut debt.

A consortium of investors including the company’s founder John Lim and US private equity firm Warburg Pincus is considering a buyout offer for Singapore-listed real estate fund manager ARA Asset Management.

Page 22: US product safety officials announced a recall affecting 2.8 million Samsung Electronics washing machines, in another stain on the company’s reputation already following the botched Galaxy Note 7 phone recall.

Page 23: Nine Network’s grip on international cricket is slipping as the Big Bash League rights held by rival Ten shapes as the big prize.

Page 25: The ABC has denied that a string of editorial breaches by a reporter is behind a major revamp of Catalyst as it tamps down concerns a new format will curtail science coverage at the public broadcaster.

The West Australian

Page 5: WA needs to prepare for a tidal wave of seniors seeking affordable housing over the next decade because the housing market has not kept up with the demands of WA’s ageing population, the State Government says.

The Indonesian Government has confirmed there will be no quotas for live cattle sold from Australia under an upcoming trade agreement.

Page 6: Brendon Grylls is at serious risk of losing his Pilbara seat in the March State election, according to a poll that kick-starts a ferocious advertising campaign by the big miners against the Nationals leader’s $5-a-tonne iron ore tax.

Page 7: Unemployment in parts of Perth have more than doubled since the last State election, creating huge problems for the Barnett Government in the key seats it needs to hold to retain power at the March election.

Page 50: West Australian small and medium-sized businesses are eligible for $25,000 grants to better prepare themselves to compete for contracts linked to the Royal Australian Navy’s $89 billion rearmament program.

Doing business with China has become a little more fraught with political risk in the past few years, so it makes sense to reassess opportunities in Indonesia.