20/02/2017 - 06:45

Morning Headlines

20/02/2017 - 06:45

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Morning Headlines

Stamp duty battle in WA election

WA Liberal Premier Colin Barnett has promised to slash stamp duty for older property owners looking to downsize, while his Labor opponent at the March 11 state election wants to lift the tax on foreign property buyers. The Fin

 

WA receives 1/10 in state finance report

The economic management of Premier Colin Barnett has been dealt a blow three weeks out from a finely balanced state election after Western Australia was given a miserable score of 1/10 in a national report card on state finances. The Fin

 

Huge drop in AMP adviser numbers

A big drop in the number of advisers in AMP’s training academy has raised more concerns about the financial giant’s ability to recruit and retain advisers, with 570 advisers leaving in the past year. The Fin

 

Coal power overhaul for green bank

The Turnbull government is preparing to overhaul the nation’s $10 billion “green bank” by imposing a mandate to allow coal power and appointing new directors, escalating the fight with Labor and the Greens over household electricity bills. The Aus

 

Barnett’s $15k lure as election shifts to housing

West Australian Premier Colin Barnett has promised a $15,000 stamp duty discount for seniors who want to downsize — the nation’s most substantial concession of its type. The Aus

 

Liberals play the man as state campaigns launched

The Liberals have launched a stinging attack on West Australian Labor leader Mark McGowan and his trade unions links as Premier Colin Barnett predicted the March 11 election would be fought “on the ground, seat by seat”. The Aus

 

Surging iron ore defies doubters

Prices of iron ore, the nation’s biggest export, continue to defy expectations as Chinese steel demand and prices hit new highs, leading to predictions of sustained iron ore price strength and the potential for extra cash to flow to government coffers and the pockets of Australian mining investors. The Aus

 

Resurgent Liberals urged to be bold

Colin Barnett declared the Liberals “can and will” win the forthcoming election after seizing on a tightening of the polls at the party’s official campaign launch which flicked the switch to negative on WA Labor. The West

 

PM splashes out defence dollars

Malcolm Turnbull will deliver some much-needed firepower to Colin Barnett’s election campaign with a job-creating $100 million commitment to upgrade WA’s defence shipbuilding infrastructure. The West

 

Processing gives WA an edge in oat market

The production of WA-grown oats for milling could settle at about a million tonnes over the next five years, according to the Department of Agriculture and Food WA. The West

 

The Australian Financial Review

Page 1: Business leaders urged the Turnbull government to seize the debate over the capital gains tax to reboot the broader tax reform agenda as government MP John Alexander insisted CGT changes were still under active consideration.

WA Liberal Premier Colin Barnett has promised to slash stamp duty for older property owners looking to downsize, while his Labor opponent at the March 11 state election wants to lift the tax on foreign property buyers.

Page 3: China has suspended coal imports from North Korea until the end of the year in a major financial blow to Pyongyang, as diplomatic relations hit a new low following Kim Jong Un’s recent missile test and the assassination of his elder brother.

Australian Treasurer Scott Morrison has cancelled a trip to Beijing this week after China made a last minute decision to postpone a meeting between the two countries’ top economic officials.

Page 4: West Australian Premier Colin Barnett cannot replicate the success enjoyed by the man who was his NSW contemporary, Mike Baird, and is committing political ‘‘suicide’’ by pushing the partial sale of the state’s poles and wires to secure a third term, according to a veteran political observer.

The economic management of Premier Colin Barnett has been dealt a blow three weeks out from a finely balanced state election after Western Australia was given a miserable score of 1/10 in a national report card on state finances.

Page 5: The major banks have backed the appointment of former Queensland premier Anna Bligh as head of the Australian Banker’s Association, despite deep reservations emanating from the Coalition government ranks.

National Australia Bank and Westpac say their credit card rates are always under review after ANZ broke ranks and cut interest rates on two of its cards by up to 2 percentage points.

Page 9: The head of the world’s second-largest mining company, Rio Tinto, has delivered a strident defence of global trade and the free flow of capital amid the danger of a pivot back to protectionism led by US President Donald Trump.

Page 13: A big drop in the number of advisers in AMP’s training academy has raised more concerns about the financial giant’s ability to recruit and retain advisers, with 570 advisers leaving in the past year.

Page 16: The co-founder of arguably Australia’s most successful private equity firm is back in the market hunting for the next crop of high-growth private companies that he can turn into multimillion dollar success stories.

 

The Australian

Page 1: The Turnbull government is preparing to overhaul the nation’s $10 billion “green bank” by imposing a mandate to allow coal power and appointing new directors, escalating the fight with Labor and the Greens over household electricity bills.

West Australian Premier Colin Barnett has promised a $15,000 stamp duty discount for seniors who want to downsize — the nation’s most substantial concession of its type.

Malcolm Turnbull is facing an even deeper funding crisis in the Liberal Party’s richest branch, with a rift over donations set to spark a shortfall of up to $1.5 million, seriously undermining campaigning efforts.

Page 4: Australia’s biggest banks will be under intense pressure to slash interest rates on credit cards before next month’s parliamentary grilling of the big four bank bosses, after ANZ caved to public pressure and cut credit card rates to the lowest point since 2003.

Page 6: The Liberals have launched a stinging attack on West Australian Labor leader Mark McGowan and his trade unions links as Premier Colin Barnett predicted the March 11 election would be fought “on the ground, seat by seat”.

Page 17: Prices of iron ore, the nation’s biggest export, continue to defy expectations as Chinese steel demand and prices hit new highs, leading to predictions of sustained iron ore price strength and the potential for extra cash to flow to government coffers and the pockets of Australian mining investors.

The philanthropic arms of the wealthy Fairfax and Myer families and the founder of the listed restaurant and kitchen equipment leasing firm, Silver Chef, are bankrolling the nation’s first surplus food online marketplace which could eventually be floated on the Australian Securities Exchange.

The Hong Kong businessman hoping to join the board of the embattled Bellamy’s in an alliance with Jan Cameron says the company must make better use of social media in China and find a smarter way to sell its organic products into the world’s fastest growing economy over e-commerce channels.

Page 18: Brickworks and Boral are believed to be in talks about a potential deal involving Boral’s roof tiles business, according to sources.

The West Australian

Page 3: Lazy Australians are frittering away more than $1 billion a year just to access their own money, figures reveal.

Page 6: Colin Barnett declared the Liberals “can and will” win the forthcoming election after seizing on a tightening of the polls at the party’s official campaign launch which flicked the switch to negative on WA Labor.

Page 7: Malcolm Turnbull will deliver some much-needed firepower to Colin Barnett’s election campaign with a job-creating $100 million commitment to upgrade WA’s defence shipbuilding infrastructure.

He’s been WA treasurer, attorney-general, Federal backbencher and now Social Services Minister, but Christian Porter made sure “political headkicker” would also feature prominently on his resume after a withering take-down of WA Labor.

The latest poll shows support has dwindled further for the Government’s proposed part privatisation of Western Power and voters are deeply divided on who they trust to fix public finances and the economy.

Page 8: Mark McGowan spent most of last week beating up on Colin Barnett for his crash-or-crash-through decision to play preference footsies with One Nation.

Mark McGowan has pledged to freeze TAFE fees by imposing a tax on foreign property buyers under a $20 million plan to encourage young people to learn a trade.

Page 9: Bill Shorten has accused Malcolm Turnbull of putting Colin Barnett’s re-election ahead of WA’s public transport needs by threatening to derail Labor’s Metronet project.

Page 10: The pockets of hysteria emerging over the Liberal Party’s decision to do a preference deal with Pauline Hanson’s One Nation are both unwarranted and unfounded.

Page 14: City of Melville residents are threatening to take their fight against a $25 million wave park to the Supreme Court if the council approves the project tomorrow.

Page 18: The head of the board of the oldest residential college at the University of WA has partly blamed dwindling enrolments on changes to the university’s course structure.

Page 50: The production of WA-grown oats for milling could settle at about a million tonnes over the next five years, according to the Department of Agriculture and Food WA.

Perth’s biggest apartment developer Finbar has broken ranks with the builder of its now-withdrawn $400 million South Perth Civic Heart project, insisting there are no dewatering issues at the site.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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