19/01/2017 - 06:37

Morning Headlines

19/01/2017 - 06:37

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Morning Headlines

Pressure to lift Medicare pay freeze

Health Minister Greg Hunt came under pressure within minutes of taking on the portfolio from the powerful doctors’ lobby to lift the politically poisonous Medicare rebate freeze, one of the pressing issues facing the new minister along with increases to private health premiums and a pharmacy industry row. The Fin

 

Retirement delayed as pension cuts bite

Australians are delaying retirement by an average three years as cuts to the age pension and low interest rates force people to rethink their savings plans. The Fin

 

‘Protected’ strikes no bar to sack

Australia’s powerful mining union is flexing its muscles for a Federal Court showdown after the workplace umpire upheld the right of bosses to sack legally striking workers in a decision applauded yesterday by employer groups. The Aus

 

Stock picker’s resources bet turned the tables

A contrarian stance on resource companies paid off for fund managers who held their nerve through the cycle, with a stronger-than-expected rebound in the sector paying off for some stock pickers. The Aus

 

Coal recovery fuels $260m Wesfarmers turnaround

Resurgent coal prices have powered a $260 million turnaround in the profitability of Wesfarmers’ coal division, boosting the odds of better than expected earnings from the conglomerate and strengthening its bargaining position as it looks to sell off the mines. The Aus

 

MP’s secret pay rise

State politicians have been quietly handed what amounts to a $6,750 a year pay rise thanks to a previously unreported change to their travel entitlements. The West

 

Wheatstone headache grows

There are fresh questions about Chevron’s likelihood of delivering the Wheatstone LNG project on budget and schedule after it emerged there is significant unplanned work underway on the project’s offshore platform. The West

 

The Australian Financial Review

Page 1: Health Minister Greg Hunt came under pressure within minutes of taking on the portfolio from the powerful doctors’ lobby to lift the politically poisonous Medicare rebate freeze, one of the pressing issues facing the new minister along with increases to private health premiums and a pharmacy industry row.

LJ Hooker approached rival Century 21 to form a mega real estate business it would float boasting over 1,000 offices around Australia, but was rebuffed, further impairing its plans for an IPO in a property market that had started to show signs of turning.

Australians are delaying retirement by an average three years as cuts to the age pension and low interest rates force people to rethink their savings plans.

Page 6: The Victorian government is under pressure to justify the continuation of a $111 million-a-year tax designed to subsidise Alcoa’s Portland aluminium smelter when the level of subsidy has been reduced to less than half that and when many consumers are struggling with their power bills.

Page 8: Workforce management software company Deputy has its sights set on being one of Australia’s billion-dollar success stories, and has raised $US25 million from US-based venture capital firm OpenView to help it get there.

Page 13: Tasmanian entrepreneur Jan Cameron says she was not trying to hide her wealth via complex offshore entities in order to dodge tax or possible creditors from prior failed business ventures.

Wesfarmers will decide within months whether to sell its $2 billion resources business after upgrading first-half profit guidance following a surge in coal production and prices to the highest level since 2011.

 

The Australian

Page 1: Australia’s powerful mining union is flexing its muscles for a Federal Court showdown after the workplace umpire upheld the right of bosses to sack legally striking workers in a decision applauded yesterday by employer groups.

Page 2: Households are expecting the economic outlook to become more difficult over the year ahead and have not been persuaded by the sharemarket’s strong recent performance that an end is in sight to the years of slow income and economic growth.

Page 4: Victorian MP Michael Sukkar says the government will do more to address the issue of housing affordability as he takes  on the role of Assistant Minister to the Treasurer on Malcolm Turnbull’s new frontbench.

Page 13: Australian business leaders have backed the call by Chinese leader Xi Jinping in Davos to support globalisation and open markets as the world braces itself for a more protectionist Trump administration in Washington.

A contrarian stance on resource companies paid off for fund managers who held their nerve through the cycle, with a stronger-than-expected rebound in the sector paying off for some stock pickers.

Page 14: banks are showering millions of dollars a year on mortgage brokers in the form of ‘soft dollar’ perks, such as tickets to sporting events and restaurant meals, an independent review of pay practices has found.

Despite regulators’ best efforts, the upside from leaking corporate deals still appears too great to resist for some corporate advisers.

Page 15: Resurgent coal prices have powered a $260 million turnaround in the profitability of Wesfarmers’ coal division, boosting the odds of better than expected earnings from the conglomerate and strengthening its bargaining position as it looks to sell off the mines.

 

The West Australian

Page 1: State politicians have been quietly handed what amounts to a $6,750 a year pay rise thanks to a previously unreported change to their travel entitlements.

Page 4: Geologist and climate change sceptic David Archibald will be named as One Nation’s highest profile candidate when Pauline Hanson launches the party’s WA election campaign in Perth today.

Little old Perth doesn’t exactly scream ‘home of the World Trade Centre’, but the penny dropped when Sketch was told that the billionaire behind the development of the colossal retail, commercial and hotel developments around the world sent his kids to school there.

Page 6: WA’s representation in the federal ministry has hit a high after a surprise and history-making promotion for Hasluck MP Ken Wyatt.

Page 11: A state government cash grab over vehicle licensing concessions could push WA council rates up 2.5 per cent this year, the local government sector’s lobby group has warned.

Page 13: Protesters opposed to the controversial Roe 8 project have been granted permission to camp in a nearby park after a local council sympathised with their cause.

Page 47: There are fresh questions about Chevron’s likelihood of delivering the Wheatstone LNG project on budget and schedule after it emerged there is significant unplanned work underway on the project’s offshore platform.

St Barbara is weighing the potential for dividend payments as the cashed-up gold miner closes in on an end to its debt nightmares.

Page 48: Paladin Energy says it will keep burning through cash in the next quarter, despite recovering uranium prices, as it works on a debt-restructuring proposal.

Long-serving Cash Converters boss Peter Cumins will be replaced in a move to reinvigorate the downtrodden short-term lender and second-hand trader.

Page 49: The failure of Brownes to offer dairy farmers a better price for their milk has forced one supplier to leave the industry after 45 years.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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