06/02/2017 - 06:30

Morning Headlines

06/02/2017 - 06:30

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Morning Headlines

Emboldened ACCC seeks higher fines

The competition regulator is vowing to pursue higher penalties against big business following a series of landmark decisions against Flight Centre, Nurofen, ANZ Banking Group and Macquarie Bank that indicated the watchdog should be sending a stronger deterrent message and providing more evidence of consumer harm. The Fin


Rinehart’s partner sends first live cattle to China

More than a decade after live cattle exports to China were first considered, the inaugural shipment has left Australia despite high beef prices making the trade marginal. The Fin

 

Rio Tinto hit with more delay for Indo copper

Rio Tinto’s long wait to get a bigger share of the copper and gold produced by Indonesia’s Grasberg mine has been delayed by at least two years thanks partly to recent changes to mining laws in Indonesia. The Fin


Hanson on the rise as Coalition support dives

The Coalition’s support has collapsed to the lowest level since Malcolm Turnbull toppled Tony Abbott as prime minister, with the government trailing Labor by 46 to 54 per cent in two-party terms as parliament resumes amid increasing voter disillusionment about the major parties. The Aus


Mining boom ‘not dead’, better earner than tourism

Australians are being urged to reject the “anti-business sentiment” that threatens to impose greater burdens on the mining industry, with a new campaign assuring voters the sector employs 225,000 workers and pays $12 billion a year in taxes and royalties. The Aus

 

RBA urged to hold on rates

A host of influential businesspeople, non-government organisations and economists believe there is no compelling reason in the foreseeable future to start lifting interest rates from their record low, citing stressed household budgets and global volatility. The Aus

 

Army tells candidates to quit reserves

The military will expand its review of rules banning politicians from campaigning in uniform after military reservists running as candidates in the WA State election were ordered to quit the services immediately. The West

 

Labor to remove rail crossings

Some of Perth’s worst level crossings will be removed under an election pledge to be announced by Labor today to fix congestion around the metropolitan area. The West

 

Caratti loses trust tax fight

Land developer Allen Caratti has failed in a legal bid to stop a $20 million-plus Australian Tax Office attack on a family trust company behind his Piara Waters development. The West

 

The Australian Financial Review

Page 1: The competition regulator is vowing to pursue higher penalties against big business following a series of landmark decisions against Flight Centre, Nurofen, ANZ Banking Group and Macquarie Bank that indicated the watchdog should be sending a stronger deterrent message and providing more evidence of consumer harm.

Australia will not automatically join the United States in any protest exercise in the South China Sea, nor send more troops to the Middle East, just because Donald Trump agreed reluctantly to take up to 1,250 refugees, Prime Minister Malcolm Turnbull says.

Page 3: Australia’s list of top-selling products to Chinese consumers on giant Chinese e-commerce platform Alibaba could soon include another Chinese favourite: apartments.

Page 4: Labor will oppose the Coalition’s embrace of so-called clean coal for power generation, labelling the policy shift as a cynical exercise designed to keep Tony Abbott at bay.

Page 6: Australia needs to fight back against creeping protectionism and accelerate trade deals particularly for services exports to avoid being wrong-footed by US President Donald Trump, commentator Andrew Bragg argues in an essay for the Menzies Research Centre.

More than a decade after live cattle exports to China were first considered, the inaugural shipment has left Australia despite high beef prices making the trade marginal.

Page 8: The Fair Work Ombudsman is investigating Domino’s Pizza franchisees across the country over allegations of underpayments and claims of workers forced to do unpaid overtime.

Shops and restaurants are going cash free and payment policies such as ‘‘$10 eftpos minimum’’ and ‘‘2 per cent credit card surcharge’’ are likely to disappear as consumer preferences change and lower interchange fees kick in on July 1.

Page 13: Rio Tinto’s long wait to get a bigger share of the copper and gold produced by Indonesia’s Grasberg mine has been delayed by at least two years thanks partly to recent changes to mining laws in Indonesia.

 

The Australian

Page 1: The Coalition’s support has collapsed to the lowest level since Malcolm Turnbull toppled Tony Abbott as prime minister, with the government trailing Labor by 46 to 54 per cent in two-party terms as parliament resumes amid increasing voter disillusionment about the major parties.

Taxpayer subsidies to meet state and federal renewable energy targets have reached $3 billion a year and include spiralling hidden subsidies paid for by business and household electricity customers which go unreported in government balance sheets.

Page 3: Billionaire Gina Rinehart’s beef interests are booming, with her Hancock Prospecting buying a third pastoral holding in NSW, taking her herd of full-blood wagyu cattle to 8000.

Page 5: Labor is threatening contemptof-court proceedings against Attorney-General George Brandis over his continued refusal to decide a Freedom of Information request from 2014.

Page 6: Coalmining chief executives have swung behind Malcolm Turnbull’s plan for cleaner coal electricity generation, declaring it time for “rational conversation” about securing affordable, reliable power.

Australians are being urged to reject the “anti-business sentiment” that threatens to impose greater burdens on the mining industry, with a new campaign assuring voters the sector employs 225,000 workers and pays $12 billion a year in taxes and royalties.

Page 17: A host of influential businesspeople, non-government organisations and economists believe there is no compelling reason in the foreseeable future to start lifting interest rates from their record low, citing stressed household budgets and global volatility.

Mining giants have urged Treasurer Scott Morrison to use the May budget to outline reforms to spur growth and say that defying the global trend towards protectionism is crucial if the government is to show a credible path back to surplus.

Page 18: Rio Tinto is facing a problem that few would have anticipated a year ago: what to do with all its cash.

Page 19: Developer Mirvac Group expects Australian super funds and institutions to emerge as owners of some of Australia’s rental housing — similar to the US multi-family sector — helping to address the “very serious” issue of housing affordability.

Page 20: The new Citigroup boss has flagged a broadening of the investment banking arm’s industry coverage and further credit card partnerships as key planks of his growth strategy New Citi Australia country head David Livingstone has flagged a broadening of the investment banking arm’s industry coverage and further credit card partnerships as key planks of his growth strategy.

 

The West Australian

Page 1: The military will expand its review of rules banning politicians from campaigning in uniform after military reservists running as candidates in the WA State election were ordered to quit the services immediately.

Page 3: Malcolm Turnbull has assured Australians he has not done a secret deal with Donald Trump in return for the US President taking up to 1250 refugees kept on Nauru and Manus Island.

Page 8: Some of Perth’s worst level crossings will be removed under an election pledge to be announced by Labor today to fix congestion around the metropolitan area.

Page 9: The Barnett Government yesterday trumped Labor’s pledge to punish dealers of methamphetamines by promising a suite of mandatory prison terms including a minimum 15 years for anyone caught with 200g of ice.

Page 11: The Returned and Services League of WA has settled a long running and bitter dispute with its former aged-care organisation after events that scandalised the veterans’ organisation on the east coast.

Page 13: Well-heeled Chinese tourists are prepared to spend more than $10,000 for a week’s holiday in WA, staying in the best hotels and being flown around the State in private jets.

Page 17: A Federal appeals court yesterday denied the Justice Department’s request for an immediate reinstatement of US President Donald Trump’s travel ban on citizens of seven mainly Muslim countries and all refugees.

Page 18: Federal Attorney-General George Brandis is looking at possible changes to the Native Title Act after a court decision last week that derailed the $1.3 billion Noongar land-andcash deal with the State Government.

Page 19: The proposed $200 million upgrade of Cunderdin airport to handle emergency diversions from Perth has received unusual bipartisan support from the major political parties.

Page 50: Land developer Allen Caratti has failed in a legal bid to stop a $20 million-plus Australian Tax Office attack on a family trust company behind his Piara Waters development.

Page 51: Outgoing HBF chief Rob Bransby has sounded a heightened warning about rising premiums, cautioning that ever-increasing treatment costs are pushing the private health insurers to tipping point.

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