Don Scandal
WA Liberal Don Randall believes he was entitled to charge tax-payers more than $5,000 to fly him and a family member to Cairns where he bought an investment property. The West
RBA braces for crisis
The Reserve Bank of Australia, financial regulators and the federal Treasury have plans to flood the banking system with cash if the US debt standoff triggers a global financial freeze. The Fin
Woodside renews Barnett stoush
Tensions between Woodside Petroleum and West Australian Premier Colin Barnett have spilled into the open after the Perth company claimed the state government controlled a relatively minor 5 per cent of the massive Browse gas fields off the Kimberley coast. The Aus
Newcrest deflects LTI issue
Under-fire goldminer Newcrest Mining has rejected criticism of its remuneration practices, saying the board is yet to decide if executives can keep shares that vest in November under the company’s long-term incentive (LTI) scheme. The Fin
ALP deal: Williamson v mistress
Corrupt former Labor Party president Michael Williamson has turned against his alleged co-conspirators by promising to assist with a string of new lawsuits, including a potential claim against his alleged long-time mistress, whom he accused of delivering him $600,000 cash in envelopes. The Aus
Rio chief hails ‘mandate’ to kill carbon tax
Rio Tinto’s energy boss has weighed into the debate on the federal government’s plan to axe the carbon tax, saying Tony Abbott was elected with a mandate to scrap the impost. The Aus
US giant Gavilon exits WA
US grain giant Gavilon is flying the white flag in WA after losing an estimated $50 million over the past two years in a disastrous attempt to crack the local market. The West
Trade deals must push out slavery: Forrest
Mining magnate Andrew Forrest has called on Tony Abbott to insist new global trade agreements have clauses prohibiting forced labour, as he launched a global slave index in London. The West
The Australian Financial Review
Page 1: The Reserve Bank of Australia, financial regulators and the federal Treasury have plans to flood the banking system with cash if the US debt standoff triggers a global financial freeze.
Page 3: The Australasian boss of $6 billion global food giant McCain Foods has blamed the rising costs of labour, fertiliser, electricity, petrol and the carbon tax for putting local potato growers in a position where they are 55 per cent less competitive than US counterparts.
Coles plans to introduce a novel mini credit card that sticks to mobile phones and allows shoppers to pay for purchases less than $100 without signing or using a PIN.
Page 5: Woodside Petroleum has insisted that floating LNG is the only commercial way of developing its large gas fields in Western Australia’s Browse Basin, stoking an already heated debate around uncompetitive costs for onshore plant construction.
The offshore oil and gas sector faces a crucial workplace struggle as the Maritime Union of Australia steps u[p its push to give Australian workers “primacy” in manning the ships that service the offshore oil and gas sector.
Page 6: Joe Hockey has pledged to take a tax reform agenda to the 2016 election, as he revealed the government would release the state of the nation’s finances before Christmas.
Key ministerial offices are struggling to attract staffers more than a month after the election, because of an edict from Prime Minister Tony Abbott’s inner circle over salaries.
Page 7: Australia’s Jewish community says Labor deputy leader Tanya Pilbersek should be given a chance as shadow minister for foreign affairs, after the government questioned her suitability because of comments she made about Israel more than a decade ago.
Page 8: Small Business Minister Bruce Billson is concerned about potentially unpredictable and inconsistent tax treatment of independent contractors and the self-employed after a government audit of the Australian Tax Office’s management of the sector.
Page 11: AussieCommerce Group, which operates deals websites including Cudo, Ouffer, Luxury Escapes and Deals.com.au didn’t exist before 2010.
Page 21: Ten Network Holdings will announce a refinancing proposal aimed at giving the free-to-air broadcaster more capacity to invest in content as it seeks to improve its weak ratings.
Page 24: Under-fire goldminer Newcrest Mining has rejected criticism of its remuneration practices, saying the board is yet to decide if executives can keep shares that vest in November under the company’s long-term incentive (LTI) scheme.
The Australian
Page 1: Ministers have been ordered to seek higher approval for billions of dollars in annual grants, as the Abbott government hunts for savings amid fears of a hit to revenue in a looming budget update.
Bob Carr will resign from the Senate without sitting again in parliament, with Labor’s NSW Right expected to nominate one of its defeated MPs as his replacement.
Page 2: Corrupt former Labor Party president Michael Williamson has turned against his alleged co-conspirators by promising to assist with a string of new lawsuits, including a potential claim against his alleged long-time mistress, whom he accused of delivering him $600,000 cash in envelopes.
The Abbott government has vowed to slash ‘‘union red tape’’ on 457 visas as business steps up its demands for the reversal of Labor’s crackdown on the scheme for bringing foreign skilled workers to Australia.
Mining magnate Andrew Forrest has called on Tony Abbott to insist new global trade agreements have clauses prohibiting forced labour, as he launched a global slave index in London.
Page 4: The federal government has hosed down speculation it plans to privatise student debt, following claims the right to recoup loans worth $23 billion may be ‘‘sold off’’ to the private sector.
West Australian Liberal Don Randall, a member of the parliamentary committee that polices MPs’ interests, has defended his use of entitlements, saying the Finance Department cleared his expenses claim for a $5000 trip to Cairns on ‘‘electorate business’’. Mr Randall also stood by a separate trip to Melbourne and his purchase of a reference book to Broadway musicals, several copies of Guinness World Records and numerous travel, cooking and photography books.
Page 8: Woolgrowers fear a government push to impose new national animal welfare standards and regulations on farms could lead to sheep producers being prosecuted in the courts.
Page 19: Tensions between Woodside Petroleum and West Australian Premier Colin Barnett have spilled into the open after the Perth company claimed the state government controlled a relatively minor 5 per cent of the massive Browse gas fields off the Kimberley coast.
Australia’s five biggest banks are on the brink of securing regulatory concessions that could allow them to trade in the vast international derivatives markets in Europe and the US under Australian rules, saving up to half the expected technology and compliance costs.
Qantas chief executive Alan Joyce has called for a more balanced approach to industrial relations but warned against a backlash that would move the system too far in favour of employers.
Page 20: Rio Tinto’s energy boss has weighed into the debate on the federal government’s plan to axe the carbon tax, saying Tony Abbott was elected with a mandate to scrap the impost.
West Australian gold producer Northern Star has broken the drought in ASX-listed producers with local operations being able to keep their ‘‘all-in sustaining’’ cost of production to less than $1000 an ounce in the September quarter.
Page 21: One of Australia’s most prominent female bosses has lamented the desperate lack of women corporate leaders, especially in agricultural companies. GrainCorp chief executive Alison Watkins said there were too few women in Australian agriculture — including in her own corporation – and that she was committed to ensuring at least one-fourth of GrainCorp’s employees are female.
Lower prices and Iluka’s strategy of throttling back its mineral sands production during periods of market weakness had the expected impact on group’s revenues in the September quarter.
Page 32: The weak office-leasing market is now affecting all capital cities, with close to one-tenth of office buildings in Perth sitting empty, according to a new report.
Office vacancy rates in Perth jumped to 9.4 per cent in the third quarter of this year from 7.9 per cent in the previous three months as the pull back in the mining sector and new supply of buildings raised new headaches for the city’s office landlords, according to a report by Jones Lang LaSalle.
The West Australian
Page 1: WA Liberal Don Randall believes he was entitled to charge tax-payers more than $5,000 to fly him and a family member to Cairns where he bought an investment property.
Page 4: The Federal Government’s debt ceiling could be raised to $400 billion in a bid to head off the financial tremors facing the US.
Some of Australia’s biggest companies would share a $4 billion windfall in the Abbott Government cannot scrap the carbon tax until after the Senate sits in the second half on next year.
Page 5: WA businessman and philanthropist David Flanagan has urged the Federal Government to consider raising the GST, warning that to continue at unsustainable levels of spending and revenue collection would be doing future generations a disservice.
Page 9: Peppermint Grove has been ranked the most expensive suburb in the country to buy a house.
Page 14: Colin Barnett has declared the Roe Highway stage 8 extension will not be built in this term of Government, sparking accusations by the Opposition of yet another broken commitment.
Page 18: The legislation that will merge power generator Verve and retail company Synergy has been introduced to State Parliament.
Business: US grain giant Gavilon is flying the white flag in WA after losing an estimated $50 million over the past two years in a disastrous attempt to crack the local market.
The intrigue surrounding the terms of Empire Oil & Gas managing director Craig Marshall’s employment contract verged on farce last night as the under-fire company admitted its boss was actually only on a three-year deal , and not five years.
Leading WA agribusiness Craig Mostyn Group will cast a wide net to grow its specialty seafood exports after the strategic purchase of lobster and abalone processing facilities in Tasmania.
The economic green shoots that boosted Iluka Resources’ hopes of a recovering mineral sands market earlier this year have shrivelled.
Mount Gibson Iron shares jumped 6.5 per cent yesterday after it posted another strong quarter at its iron ore operations, bolstering its cash position by about $44 million for the quarter.