01/02/2017 - 06:48

Morning Headlines

01/02/2017 - 06:48

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Morning Headlines

PM draws jobs battle line

Malcolm Turnbull will claim the average worker will be $750 a year better off under his proposed company tax cuts as he mounts an offensive against Labor over economic growth, budget repair, trade, education and energy in a major speech today. The Fin

 

China’s scrap metal cuts boost iron ore

Australian iron ore miners will likely benefit as China cuts back on the use of scrap metal to produce steel, with Fortescue Metals Group predicting the policy change could mean Chinese demand for iron ore would rise by 40 million tonnes per year. The Fin

 

Asic charges second former Leighton exec

The corporate watchdog has charged a second former Leighton Holdings executive, Russell Waugh, in relation to the falsification of company documents after previously laying criminal charges against former chief financial officer Peter Gregg. The Fin

 

Finnegan sees bright future for Macmahon

Macmahon Holdings chief executive Michael Finnegan has for the first time publicly talked up the company’s prospects following a $175 million takeover bid from rival Cimic, as another of the target’s shareholders urged the board not to hand over control ‘on the cheap’. The Aus

 

Shorten backs rise in 457 visa charges

Bill Shorten has backed the idea of making employers pay more to hire skilled foreign workers as he seeks to tap into voter anxiety about lost job opportunities, warning Australia will ‘pay the price’ for making it too easy to import labour. The Aus

 

Libs fear 12-seat swing to Labor

Liberal Party strategists in Western Australia fear the loss of at least 12 seats at the March 11 state election, ending the long reign of Colin Barnett in power for the first time since 2008. The Aus

 

Labor pledges $381m for schools, upgrades

WA Labor yesterday made its biggest infrastructure promise of the election campaign - $381 million for new and upgraded school facilities in a pitch to the outer suburbs and regions. The West

 

Home affordability best since 2003

The Perth property market is at its most affordable in 13 years with buyers snapping up an increasing number of homes being sold at a loss. The West

 

Search revs up for Motorplex owners

The Barnett government has put the $30 million Perth Motor Sports Complex in Kwinana on the block. The West

 

The Australian Financial Review

Page 1: Malcolm Turnbull will claim the average worker will be $750 a year better off under his proposed company tax cuts as he mounts an offensive against Labor over economic growth, budget repair, trade, education and energy in a major speech today.

Australian iron ore miners will likely benefit as China cuts back on the use of scrap metal to produce steel, with Fortescue Metals Group predicting the policy change could mean Chinese demand for iron ore would rise by 40 million tonnes per year.

Page 2: Toyota Australia will axe 2,600 jobs when it shuts down its car manufacturing plant at Altona in Melbourne’s west on October 3.

Page 3: The corporate watchdog has charged a second former Leighton Holdings executive, Russell Waugh, in relation to the falsification of company documents after previously laying criminal charges against former chief financial officer Peter Gregg.

The head of the Australian Council of Trade Unions has quit after five years in the top job, saying he wants to spend more time with his family.

Westpac is closing a loophole to stop property buyers using a combination of personal loans and mortgages to fully fund deposits, or top-up shortfalls if off-the-plan apartments are revalued at less than the purchase price.

Page 5: A union representing plumbers received millions in government funding to set up two training centres that are now competing with public and private colleges.

A group of major coal companies including BHP Coal and Glencore have succeeded in removing a generous industry entitlement that allowed mine workers to accrue unlimited redundancy benefits.

Page 6: Business groups have split over the corporate tax cut, with the Australian Industry Group giving the Turnbull government the green light to focus on legislating a tax cut for small to medium business in the next two months, and delaying the politically fraught campaign for a big business tax cut until the next election.

Page 7: The Clean Energy Regulator has increased pressure on ERM Power, Alinta Energy and other electricity retailers to fulfil their renewable energy obligations and abide by the ‘spirit of the law’ and help meet the 2020 target.

Page 8: The Turnbull government is facing a showdown with Future Fund chairman Peter Costello over its plans for post-2020 cash withdrawals from the $127.7 billion fund.

Page 13: The corporate watchdog will review up to 50 superannuation fund trustees after concerns about funds using aggressive marketing tactics and inducements to win employers’ lucrative default fund business.

 

The Australian

Page 1: Malcolm Turnbull will launch a new pitch today to win back jaded voters by offering a childcare funding boost and a $750 annual gain to average pay packets, intensifying a clash with Bill Shorten over rival plans to expand wages and create jobs.

The Trump administration is believed to have included a special last-minute clause in its controversial executive order on refugees as a particular favour to specifically cover the Nauru deal with Australia only after intense lobbying by Malcolm Turnbull and diplomats in Washington.

Liberal Party strategists in Western Australia fear the loss of at least 12 seats at the March 11 state election, ending the long reign of Colin Barnett in power for the first time since 2008.

Page 2: Business is looking forward to the year ahead with confidence and full order books, with a key business survey showing it is pulling out of what appears to have been a mid-year slowdown last year.

Page 4: Bill Shorten has backed the idea of making employers pay more to hire skilled foreign workers as he seeks to tap into voter anxiety about lost job opportunities, warning Australia will ‘pay the price’ for making it too easy to import labour.

Malcolm Turnbull has stood by his decision not to join world leaders in criticising Donald Trump’s contentious executive order on immigration, arguing that his approach with the new administration has delivered two deals that benefit Australians.

Page 6: An anti-corruption investigation should be launched into the decision to give $757,000 in taxpayer funds to a community group to campaign against the Turnbull government’s education cuts, Education Minister Simon Birmingham says.

Page 8: The White House has fired acting attorney-general Sally Yates for telling government lawyers not to defend an executive order signed by Donald Trump suspending immigration from seven countries.

Page 19: Concerns about the trade and investment policies of US President Donald Trump have added to the Future Fund’s already cautious outlook, as the $127.7 billion retirement savings pool rode a December-quarter surge in financial markets to again beat its return target.

Macmahon Holdings chief executive Michael Finnegan has for the first time publicly talked up the company’s prospects following a $175 million takeover bid from rival Cimic, as another of the target’s shareholders urged the board not to hand over control ‘on the cheap’.

Page 20: A US-based fund is said to be sounding out senior executives in the Australasian media industry about an acquisition of Fairfax Media’s Australian assets and some have pointed to private equity firm Platinum as the suitor.

 

The West Australian

Page 1: Colin Barnett has warned his MPs to expect a very ‘nasty and personal’ campaign from Labor during his final address to the parliamentary Liberal Party ahead of the March 11 election.

Page 3: In the biggest development in the treatment of advanced ovarian cancer in 30 years, Australian women can now get a life saving drug for the cost of two takeaway coffees a week.

Page 4: Qantas has confirmed that tickets for its non-stop flights between Perth and London will go on sale in two months.

WA Labor yesterday made its biggest infrastructure promise of the election campaign - $381 million for new and upgraded school facilities in a pitch to the outer suburbs and regions.

Page 6: WA taxpayers will fork out at least $106 million more a year for disability services than other states after the WA government reached a deal to run its own version of the National Disability Insurance Scheme.

Page 18: The High Court has confirmed that Rod Culleton is no longer a WA senator after throwing out his attempt to overturn his disqualification.

Page 19: The Perth property market is at its most affordable in 13 years with buyers snapping up an increasing number of homes being sold at a loss.

Page 20: Homegrown Bunnings has thrown the dice in its $4 billion expansion gamble, opening its first British store in St Albans this week.

Page 29: WA education services giant Navitas is well placed to cater for international students who might shun the US because of Donald Trump’s immigration policies, Navitas boss Rod Jones says.

The Barnett government has put the $30 million Perth Motor Sports Complex in Kwinana on the block.

Page 30: The loss of 90 jobs at Iluka Resources was not a direct result of the company’s takeover of African miner Sierra Rutile but the review of operations which sparked the sackings was influenced by the high-grade reserves in Sierra Leone, Iluka boss Tom O’Leary says.

Page 67: Fortescue Metals Group boss Nev Power has played down talk of a bumper half-year dividend payout in the wake of the company’s credit re-rating, saying his focus remains on repaying its debts.

Pakistani meat trader Tariq Butt sold more than $1 million worth of shares in live exporter Wellard over the past 10 days.

Page 69: A Builton Group creditor owed $350,000 says he was forced to lay off 40 per cent of his workforce before Christmas.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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