22/03/2017 - 06:46

Morning Headlines

22/03/2017 - 06:46

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Morning Headlines

Softer race hate law to hit Coalition

The government’s decision to water down race hate protection laws could cost it up to six seats due to a backlash from ethnic groups, even though the changes will never become law, party insiders have warned. The Fin

Doubt grows over cuts to company tax

The government has left the door wide open to dump its company tax cuts at the May budget after refusing repeatedly on Tuesday to say if they would remain policy after next week’s Senate vote. The Fin

Spotless bid ‘not that hostile’: Downer CEO

Downer EDI chief executive Grant Fenn has defended the contractor’s $1.2 billion hostile takeover bid for Spotless, arguing that the offer is ‘‘very fair’’ and that he hopes to keep most of the services group’s employees. The Fin

CFMEU caught out on ‘site death’ strikes

Employment Minister Michaelia Cash has accused the CFMEU of using safety to justify unlawful conduct, releasing data showing not one of 47 current legal proceedings against the union involves industrial action in response to a workplace fatality. The Aus

Air quality issue stalls Orica explosives plant

Orica’s $800 million Burrup explosives plant is facing indefinite delays and is unable to bid for new Pilbara region contracts, after inadequate air-quality monitoring was uncovered during a Senate inquiry into the impact of industrial pollution on Aboriginal rock art on Western Australia’s Burrup Peninsula. The Aus

Packer and Stokes thrown into the Tabcorp-Tatts merger fray

The prospect of Kerry Stokes and James Packer teaming up to buy the West Australian TAB has been floated as part of an argument to urge regulators to approve the $11 billion Tabcorp and Tatts mega-merger. The Aus

Link cash must stay in Perth, says RAC

The RAC has warned the Federal Government it must channel the $1.2 billion promised for the axed Perth Freight Link into other vital infrastructure projects across the city. The West

Labor pains

West Australians were yesterday reacquainted with life under a Labor State Government when new Industrial Relations Minister Bill Johnston shared a microphone with unionists who declared their support for breaking “unjust” laws. The West

Bargain buy gets revamp

Investor and syndicator Warrington Property has bought the former Oracle Building at 66 Kings Park Road, West Perth, for $16.1 million — about a third of the $46.5 million price paid by the previous owner, Tina Bazzo. The West

The Australian Financial Review

Page 1: The government’s decision to water down race hate protection laws could cost it up to six seats due to a backlash from ethnic groups, even though the changes will never become law, party insiders have warned.

A pending crackdown on bank lending to riskier investor and low-deposit borrowers is being spearheaded by a special regulatory working group set up last week following direct intervention by the Treasurer Scott Morrison.

Shell has responded to the intensifying squeeze on east coast gas with a commitment to make more gas available on the domestic market, thanks to a $500 million investment to drill more wells in south-west Queensland.

Page 3: China has delivered a curt rebuke to Foreign Minister Julie Bishop on the eve of its Premier, Li Keqiang, arriving in Australia for trade talks, saying Canberra should set aside its ideological differences with Beijing.

Page 6: The government has left the door wide open to dump its company tax cuts at the May budget after refusing repeatedly on Tuesday to say if they would remain policy after next week’s Senate vote.

Page 8: Former West Australian premier Colin Barnett has refused to quit Parliament despite his new Liberal Party leader, Mike Nahan, arguing the elder statesman needed to go as part of efforts to rebuild after one of the worst political losses on record.

Page 11: Risks are mounting across the housing market because of a surge in investment borrowing and rapid price gains in Sydney and Melbourne, the Reserve Bank of Australia said

Page 17: PG Telecom executive chairman David Teoh insists the company’s corporate business, its fibre-to-the-building rollout and a push into Singapore’s mobile sector is helping it deal with shrinking margins on the National Broadband Network.

Downer EDI chief executive Grant Fenn has defended the contractor’s $1.2 billion hostile takeover bid for Spotless, arguing that the offer is ‘‘very fair’’ and that he hopes to keep most of the services group’s employees.

Page 21: As the prospect of owning a home moves further out of reach, it’s likely all Australians, including retirees, will find employment in the so-called ‘‘gig economy’’ as a way of making up a retirement shortfall says the chief executive of First State Super.

The Australian

Page 1: Malcolm Turnbull has vowed to “defend our freedom” by amending racial-hatred laws to protect free speech, unveiling a bold reform that has won acclaim from the Coalition partyroom but faces a severe test in the Senate.

Page 4: Employment Minister Michaelia Cash has accused the CFMEU of using safety to justify unlawful conduct, releasing data showing not one of 47 current legal proceedings against the union involves industrial action in response to a workplace fatality.

Eric Abetz has seized on an explosive speech by the former vice president at the Fair Work Commission, Graeme Watson, to challenge some of the key decisions and judgments of the industrial umpire’s president, Iain Ross.

Page 5: Julia Gillard has credited her father for endowing her with a lifetime passion for fighting mental illness, as she prepares to take control of the national depression initiative Beyondblue.

Page 6: The majority of Senate crossbenchers has backed Malcolm Turnbull’s proposed overhaul of the Australian Human Rights Commission and section 18C of the Racial Discrimination Act, with negotiations under way to firm up crucial support for some of the more contentious changes.

Page 8: He’s a 66-year-old right-wing policy wonk with an American accent who bears a striking resemblance to Ned Flanders from The Simpsons.

Page 19: The house price boom is putting financial stability at risk, the Reserve Bank has warned, as official figures show house prices leapt 4.1 per cent in the December quarter, following the last round of mortgage rate cuts.

In a fortnight, outgoing Wesfarmers chief Richard Goyder will take over from player-turned-infrastructure-businessman Mike Fitzpatrick as AFL Commission chair.

Eliminating negative gearing and increasing capital requirements for property investment loans would take the biggest toll on the major banks of the policy options to tackle the housing affordability crisis and elevated financial stability risks, according to new analysis.

Page 20: The prospect of Kerry Stokes and James Packer teaming up to buy the West Australian TAB has been floated as part of an argument to urge regulators to approve the $11 billion Tabcorp and Tatts mega-merger.

Page 21: Orica’s $800 million Burrup explosives plant is facing indefinite delays and is unable to bid for new Pilbara region contracts, after inadequate air-quality monitoring was uncovered during a Senate inquiry into the impact of industrial pollution on Aboriginal rock art on Western Australia’s Burrup Peninsula.

The West Australian

Page 1: The RAC has warned the Federal Government it must channel the $1.2 billion promised for the axed Perth Freight Link into other vital infrastructure projects across the city.

Page 5: WA passengers travelling to the US via the Middle East face increased security measures after American authorities announced a ban on electronic equipment in carry-on baggage on flights from certain airports.

Page 6: West Coast chief executive Trevor Nisbett and other club officials oversaw a six-year culture of cover-up that ignored illicit drug use by star players and allowed serious misconduct and criminal activity to flourish, a secret report into the club reveals.

Page 13: Malcolm Turnbull will push ahead with changes to race hate laws amid warnings from Barnaby Joyce and backbench Liberals that a damaging debate will cost the coalition votes.

Page 14: A $1.1 million aquarium, built to showcase the underwater treasures of Ningaloo Reef, is standing empty of fish and water in Exmouth because of fears it is not safe to hold marine life.

Page 16: New Education and Training Minister Sue Ellery has opened the door to an alternative design for a controversial city-based school.

West Australians were yesterday reacquainted with life under a Labor State Government when new Industrial Relations Minister Bill Johnston shared a microphone with unionists who declared their support for breaking “unjust” laws.

Page 17: Football officials will be part of a committee formed to run the WACA Ground if a co-location with cricket goes ahead under a funding proposal put to the State Government.

Page 18: New Opposition Leader Mike Nahan said he would lead the Liberals to the next election and promised to do it as the head of a team rather than a “boss”.

Page 23: A “data drought” in swaths of country Australia has farmers and their communities relying on “below Third World” mobile phone coverage and internet, the National Farmers’ Federation has warned.

Page 25: Dissenting City of Perth councillors have called for a controversial $500,000 audit to root out shortcomings within the council and not be a “tick box” exercise.

Page 73: Chevron’s boss in Australia has used his first major public address to urge the nation to emulate the US shale gas revolution to ensure both a reliable electricity supply and massive economic benefits.

TPG Telecom has reversed customer slippage at iiNet, despite ongoing criticism around the WA-founded unit’s service levels and broadband speeds.

Orionstone founder Ashley Fraser has stepped in to provide the $7.5 million needed to bring Empire Resources Penny’s Find gold mine joint venture into production.

Page 75: A former executive of Mitsui’s Australian energy arm bought shares in one of its Queensland coal seam gas partners while helping a Perth company planning a takeover bid, a Supreme Court jury was told yesterday.

Page 76: Scentre Group, which owns Westfield shopping centres in Australia and New Zealand, quietly paid $48 million for the Innaloo Cinema Complex site last September.

Investor and syndicator Warrington Property has bought the former Oracle Building at 66 Kings Park Road, West Perth, for $16.1 million — about a third of the $46.5 million price paid by the previous owner, Tina Bazzo.

BHP Billiton’s multimillion dollar rental expense for 8300sqm of unoccupied Brookfield Place tower one space will be alleviated by a two-floor sublease deal with Telstra.

Page 77: The sale of Satterley Property Group’s South Perth headquarters — on a site with mixed-use, high-rise potential — is expected to catch the eye of local and offshore developers.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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