09/03/2017 - 06:34

Morning Headlines

09/03/2017 - 06:34

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Morning Headlines

Power, gas crises stall tax cuts

Senate powerbroker Nick Xenophon says he will not negotiate over passage of company tax cuts until the government deals with an energy crisis that new forecasts show will see a national power crisis by the end of next year. The Fin

 

Gas supply crisis may force methanol plant to the US

The east coast gas crisis has pushed Perth-based Coogee Chemicals to the brink of a decision to ship a mothballed methanol plant from Melbourne’s west to the United States for reassembly and expansion. The Fin

 

China reveals coal surprise

Australian coal stocks have slumped after China said it would not reinstate the mine production limits that sparked last year’s extraordinary rally in coal prices. The Fin

 

My call’s right on economy: PM

Malcolm Turnbull will today assure Australians he has made the “right call for the times” during a major speech in which he will redouble his message on the need to cut taxes for employers to boost jobs. The Aus

 

Tabcorp awaits merger concerns

Gaming services are tipped to be the “sleeper” issue as wagering giant Tabcorp waits to hear today what concerns the competition regulator has with its $11 billion merger plan with rival Tatts. The Aus

 

Lib blames project loss on ‘rent-a-crowd’

The Liberal Party’s indigenous candidate for Kimberley in the West Australian election, Warren Greatorex, has accused an environmental “rent-a-crowd” of depriving impoverished Aboriginal people of economic development by derailing a $40 billion gas project near Broome. The Aus

 

2000 jobs go to fund liberals budget repair

A re-elected Barnett Government would offer 2000 redundancies to public servants and redirect $800 million of Royalties for Regions money to rural services as it tried to repair the State Budget’s battered bottom line. The West

 

One Nation vote cards ‘break election law’

One Nation leader Pauline Hanson faces legal action amid claims she sacked the head of the WA arm of her party because he was too old. The West

 

Foreign ownership set for WA pipeline

Foreign ownership of the Dampier-to-Bunbury gas pipeline is looking increasingly likely after the $7.3 billion offer for its parent company was deemed higher than its worth. The West

 

The Australian Financial Review

Page S1: Senate powerbroker Nick Xenophon says he will not negotiate over passage of company tax cuts until the government deals with an energy crisis that new forecasts show will see a national power crisis by the end of next year.

Australia’s AAA credit rating is at risk unless our politicians abandon petty point scoring and engage in an honest and responsible economic debate, including on budget repair and competitive tax rates, Prime Minister Malcolm Turnbull says.

Page S3: The bosses of four of Australia’s most innovative businesses say companies must give customers what they want, be willing to fail and have more diverse boards to compete with internet-savvy start-ups in the digital age.

The boss of one of the biggest private equity firms in the region has mounted an extraordinary attack on boards and governance saying that half of potential corporate value is lost because of slavish adherence to the concept of the ideal board.

Page S6: Forty per cent of Australia’s jobs will disappear in 10 years, but the head of CSIRO’s data research unit has delivered an action plan for how they can be replaced.

Page S7: The chief executive of Fairfax Media-owned real estate advertising business Domain has revealed intentions to expand into potentially lucrative financial services operations, as investors look for growth strategies after an upcoming float.

Page 1: Westpac CEO Brian Hartzer has singled out the glut of apartments being sold by Chinese buyers as a key risk for the Australian real estate market, saying the property developments in question are being closely monitored by the bank.

The east coast gas crisis has pushed Perth-based Coogee Chemicals to the brink of a decision to ship a mothballed methanol plant from Melbourne’s west to the United States for reassembly and expansion.

Page 2: The hyper-competitive airline sector has put aside its differences to form Australia and New Zealand’s first aviation industry group, which will go into battle with monopoly airport owners over rising fees and lobby for more investment in infrastructure.

Page 4: The One Nation juggernaut has developed speed wobbles with unrest in Western Australia just days from the state election, and Pauline Hanson accused of betraying her home state of Queensland over GST.

Page 5: Westpac established a call centre team and offered them bonuses to convince customers to switch $646.7 million in external superannuation savings into the bank’s own products, court documents show.

Page 13: Australian coal stocks have slumped after China said it would not reinstate the mine production limits that sparked last year’s extraordinary rally in coal prices.

Page 16: Companies handed a ‘‘please explain’’ by the corporate cop are finding their dealings with the financial regulator being made public, as the regulator cracks down on unrealistic asset valuations.

 

The Australian

Page 1: A decade of political dispute and government paralysis over energy policy is to blame for wholesale electricity prices spiking this year to the equivalent of a $50-a-tonne carbon tax, the power industry warns in a submission to the government’s energy security review.

Page 2: Malcolm Turnbull will today assure Australians he has made the “right call for the times” during a major speech in which he will redouble his message on the need to cut taxes for employers to boost jobs.

Small-business groups are leading a push for a parliamentary inquiry to expose how union-negotiated agreements have traded away weekend penalty rates, leaving mum-and-dad operators saddled with higher labour costs while competing against major retailers.

Page 4: The West Australian Liberal Party’s election promises would slash net debt by $12 billion and return the government’s budget to surplus within three years, according to Treasury, in a boost to the Barnett government’s bid to regain financial credibility.

The Liberal Party’s indigenous candidate for Kimberley in the West Australian election, Warren Greatorex, has accused an environmental “rent-a-crowd” of depriving impoverished Aboriginal people of economic development by derailing a $40 billion gas project near Broome.

Page 5: Health insurers are stepping up their campaign to end government veto power over insurance premiums, arguing the annual premium approval process is a straitjacket that stifles competition and forces consumers to pay more.

Page 6: Changes to the Petroleum Resources Rent Tax could result in the mothballing of the Darwin LNG plant in five years, resulting in the loss of 1300 jobs, $5 billion of annual company tax and the cancelling of a $10bn gas field development, US oil major ConocoPhillips says.

Page 19: NSW, Victoria and South Australia face power shortages in the next two years that may require LNG exports to be diverted to maintain power reliability standards, according to the nation’s energy market operator, which has dramatically cut its domestic gas production forecasts.

Page 21: Gaming services are tipped to be the “sleeper” issue as wagering giant Tabcorp waits to hear today what concerns the competition regulator has with its $11 billion merger plan with rival Tatts.

Page 22: BHP Billiton petroleum boss Steve Pastor says the world could face an oil shortage in the next five years, with OPEC and US shale production insufficient to meet demand.

 

The West Australian

Page 1: Naming rights for Perth Stadium and Perth Arena will be sold as part of a Labor strategy the party claims will repair the State’s parlous finances.

Page 3: Dead Swan River dolphins have been found riddled with toxic pollutants that have been linked with cancer and are restricted in some countries and several Australian States.

Page 4: A re-elected Barnett Government would offer 2000 redundancies to public servants and redirect $800 million of Royalties for Regions money to rural services as it tried to repair the State Budget’s battered bottom line.

Page 5: The WA Police Union has stepped back from a threat of industrial action in the last few days of the election campaign despite claiming its members had been “kicked in the guts” by the Liberal and Labor parties.

Page 6: One Nation leader Pauline Hanson faces legal action amid claims she sacked the head of the WA arm of her party because he was too old.

Colin Barnett’s preference deal with One Nation is in danger of unravelling, with claims how-to-vote cards for Pauline Hanson’s party breach electoral laws.

Page 14: Foreign Minister Julie Bishop and security experts have raised fresh concerns that WikiLeaks has compromised security efforts after the whistleblower group revealed how the US Government hacks smartphones, computers and TVs.

Page 61: Chevron is about to produce LNG from the third and final train of the $US54 billion Gorgon LNG project and sees the potential for more investment in the offshore Carnarvon Basin.

Foreign ownership of the Dampier-to-Bunbury gas pipeline is looking increasingly likely after the $7.3 billion offer for its parent company was deemed higher than its worth.

Page 62: Junior explorer Gold Road will not be paying dividends ahead of its time, managing director Ian Murray says, despite generating a huge profit in the first half of the financial year.

Forager Funds Management has lifted its stake in Macmahon Holdings to near 10 per cent as part of an effort to block CIMIC Group’s hostile takeover bid.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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