17/01/2017 - 06:14

Morning Headlines

17/01/2017 - 06:14

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Expenses rorts spread to unions

Auditors have raised a red flag over more than $700,000 in credit card expenses racked up by Queensland mining union officials due to a lack of evidence that all of the money was spent for legitimate business purposes. The Fin

 

Conflict woes for new health minister

A review of the pharmacy sector’s payment structures and location rules threatens to unravel amid conflict of interest claims, creating another new headache for the incoming health minister. The Fin

 

Perth housing confidence falls

Perth’s property market is showing no signs of bottoming out and both parties in the March Western Australia state election should make it a priority, says the Property Council of Australia. The Fin

 

PM lashes Shorten for TPP stand

Bill Shorten has sided with Donald Trump, unions and the Greens in opposing Malcolm Turnbull’s bid to win a parliamentary vote supporting a Pacific-wide free-trade deal, laying the battlelines for a major political fight over the future of Australian trade policy. The Aus

 

Woodside, Santos output peaks

Oil prices may have bottomed but there are signs that production among Australia’s big oil and gas companies may have peaked - at least for now. The Aus

 

Cabinet defies EPA uranium mine call

The Barnett government has ignored the advice of its environmental watchdog and approved plans to develop WA’s biggest uranium deposit. The West

 

Harvey wants top job… but not yet

Liza Harvey says she wants to take over from Colin Barnett if the Liberal-National Government is returned at the upcoming state poll and the Premier steps down next term. The West

 

CCI opposes baby-leave cuts

WA’s peak business body is urging the Turnbull government to “go back to the drawing board” on its proposed cuts to paid parental leave and to look elsewhere for budget savings. The West

 

The Australian Financial Review

Page 1: Auditors have raised a red flag over more than $700,000 in credit card expenses racked up by Queensland mining union officials due to a lack of evidence that all of the money was spent for legitimate business purposes.

Former TPG Asia head Ben Gray is likely to raise $2 billion when he launches a private equity fund at the end of the year, a huge sum for a newly formed firm that will pose a threat to industry leader Pacific Equity Partners, say bankers and rivals.

Page 3: Labor leader Bill Shorten dodged questions about whether the opposition would support laws to ratify the Trans-Pacific Partnership, leading to a war of words over free trade with Prime Minister Malcolm Turnbull.

Page 4: A review of the pharmacy sector’s payment structures and location rules threatens to unravel amid conflict of interest claims, creating another new headache for the incoming health minister.

Page 5: Bankers, advisers and key industry groups are urging the federal government to quickly push ahead with changes to foreign investment rules to create greater certainty, following Treasurer Scott Morrison’s high-profile decision to block foreign bids for Ausgrid and Kidman and Co.

The tourism-led economic resurgence is set to continue this year with latest figures showing Asia’s infatuation with Australia shows no signs of abating.

Page 6: A $200 million deal to secure the future of Alcoa’s Portland smelter could be signed within a week after a marathon 12-hour meeting led to an agreement in principle between the parties involved.

Energy giant AGL has claimed workers at its Loy Yang A plant are taking covert industrial action that is risking the state’s power supply, as part of an alleged backlash against the axing of their long-standing union agreement.

Page 7: Perth’s property market is showing no signs of bottoming out and both parties in the March Western Australia state election should make it a priority, says the Property Council of Australia.

 

The Australian

Page 1: Bill Shorten has sided with Donald Trump, unions and the Greens in opposing Malcolm Turnbull’s bid to win a parliamentary vote supporting a Pacific-wide free-trade deal, laying the battlelines for a major political fight over the future of Australian trade policy.

Australia could reach its carbon reduction target by replacing its ageing electricity generators with the latest and emerging low emission coal-fired power station technology.

Page 3: Back-to-back fee increases have pushed private schools out of reach for a new generation of parents, with education costs spiralling above $500,000 a child in the country’s top schools.

Page 4: The Turnbull government has hit back at Bill Shorten for claiming Labor is the party of “Australian jobs”, releasing new figures showing foreign  worker numbers boomed when he was employment minister.

Page 15: East coast households are facing gas bill hikes of more than 50 per cent over the next few years as Gladstone’s big new export plants continue to suck up gas from the southern states in the face of lower than expected Queensland coal-seam gas supply, according to National Australia Bank forecasts to be released today.

Oil prices may have bottomed but there are signs that production among Australia’s big oil and gas companies may have peaked - at least for now.

Page 16: Ratings agency Fitch has downgraded its outlook on the banking industry, citing rising household debt and concerns over higher potential loan losses.

The West Australian government last night approved one of the nation’s biggest new uranium mines after rejecting the advice of its own environmental regulator to block the project over concerns for the survival of a little-known crustacean living deep beneath the desert.

 

The West Australian

Page 3: Elder Robert Isaacs has warned fellow indigenous Australians they were damaging their people and causing division by opposing Australia Day.

Page 7: Patients needing ear, nose and throat treatment are facing indefinite delays, with some cases never likely to get an appointment, according to a WA doctors’ group.

Page 9: Perth tourists were among hundreds of people who fled for their lives when shots were fired into crowds at a popular music festival in Mexico, reportedly killing at least five people.

The Barnett government has ignored the advice of its environmental watchdog and approved plans to develop WA’s biggest uranium deposit.

Page 12: The controversial move by Nationals leader Brendon Grylls to increase the rents of mining giants BHP and Rio Tinto has been dealt another blow, with polling revealing the number of people against the plan is growing.

Liza Harvey says she wants to take over from Colin Barnett if the Liberal-National Government is returned at the upcoming state poll and the Premier steps down next term.

Page 14: A $30 million carpark at Edgewater train station lablelled as “gold-plated” by the state opposition lies empty despite seemingly being ready to open.

Page 20: WA’s peak business body is urging the Turnbull government to “go back to the drawing board” on its proposed cuts to paid parental leave and to look elsewhere for budget savings.

Page 43: Investors are still weighing the impact of Indonesia’s move to soften export restrictions on low-grade nickel ore, as senior ministers softened the country’s rhetoric on the shift amid an industry backlash.

One of the architects of WA’s energy industry, former resources minister Peter Jones, died yesterday. He was 83.

Page 44: Regis Resources has underlined the underground potential at its WA gold operations as it builds a substantial war chest from its Duketon mines.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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