03/04/2017 - 06:29

Morning Headlines

03/04/2017 - 06:29

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Morning Headlines

Infrastructure plan a ‘tax risk’

The government’s key budget initiative to boost infrastructure spending is a dangerous risk to taxpayers and will do nothing to encourage much-needed investment, the body representing Australia’s largest infrastructure firms has warned. The Fin

 

Fears of energy market creeping takeover

Business has warned against a creeping government takeover of the Australian energy market after the latest deal between the Turnbull government and senator Nick Xenophon. The Fin

 

APRA ‘very unhelpful’ to Perth market

The banking regulator’s latest tightening of credit rules for property borrowing put the recovery of Western Australia’s weakened property market at risk, says Dale Alcock, head of the country’s fourth-largest home builder. The Fin

 

CFMEU threatens building chaos

The nation’s biggest builders risk being blacklisted from federal projects after the construction union dramatically raised the stakes with the Turnbull government, declaring it would not renegotiate hundreds of workplace deals to comply with the Coalition’s new building code. The Aus

 

Morrison turns the tax attack back on Labor

Scott Morrison has demanded Labor reveal its position on the $5.2 billion in tax cuts passed through the Senate, as the Treasurer vows to push ahead with the Coalition’s full corporate tax plan in this term of parliament. The Aus

 

Industry awash with cash for M&A

Interest in mergers and acquisitions is rising — particularly among opportunists eyeing beaten-down targets — as calmer markets inspire boards to consider takeovers and asset sales, giving bankers hope of more deals in the remaining nine months of the year. The Aus

 

$735m GST black hole

Malcolm Turnbull’s plan for a GST floor to protect WA from the ravages of the Commonwealth Grants Commission could be dead before it is even put in place, with warnings that the State Government faces a fresh $735 million Budget black hole. The West

 

Wyatt reality check for top bureaucrats

Treasurer Ben Wyatt has hit out against the pay packets of WA’s highest paid public servants, labelling some of their salaries as “disconnected from reality”. The West

 

Japanese buyers unite to dominate LNG market

A company few people in energy-rich WA have ever heard of has emerged as the world’s dominant buyer of LNG, has amassed interests in four Australian LNG projects and is driving the gas market to benefit Japanese buyers. The West

 

The Australian Financial Review

Page 1: The government’s key budget initiative to boost infrastructure spending is a dangerous risk to taxpayers and will do nothing to encourage much-needed investment, the body representing Australia’s largest infrastructure firms has warned.

Owners of businesses with revenues near $50 million have welcomed Friday’s company tax cuts as overdue recognition for mid-sized firms, but agreed that abolishing payroll tax would do more to create jobs.

Banks say the prudential regulator’s crackdown on interest-only mortgages won’t hurt their bottom line and argue it’s a better way to cool the housing market than a Reserve Bank official rate hike given high household debt.

Page 2: Some 346 Australians identified in a fresh tax evasion probe of Switzerland’s No. 2 wealth manager, Credit Suisse, triggered by a tip to Dutch tax authorities, could face potential "significant" financial penalties and possible jail time.

Page 4: Business lobby groups have warned that some larger companies will resort to tax planning to ensure they get the lower 27.5 per cent tax rate intended for small to medium-sized businesses secured by the government in last week’s tax deal.

Page 5: AGL Energy has put a proposal for a new gas-fired power plant in South Australia and new investment in wind, solar and storage on ice because the state’s $550 million energy plan includes plans for a government owned gas generator.

Business has warned against a creeping government takeover of the Australian energy market after the latest deal between the Turnbull government and senator Nick Xenophon.

Page 8: Sydney and Melbourne’s sizzling housing markets stepped up the pressure on buyers last week as both cities recorded auction clearance rates of more than 80 per cent.

Page 9: The banking regulator’s latest tightening of credit rules for property borrowing put the recovery of Western Australia’s weakened property market at risk, says Dale Alcock, head of the country’s fourth-largest home builder.

Page 13: Australia’s biggest industry superannuation fund has called for an overhaul of executive remuneration in an effort to reduce bloated pay packets and make them more transparent.

Page 15: Acquisitive miner Yancoal appears increasingly unlikely to receive a promised cash injection from a subsidiary of Bank of China, after the subsidiary missed its second deadline to provide a $US175 million loan on Friday.

 

The Australian

Page 1: The nation’s biggest builders risk being blacklisted from federal projects after the construction union dramatically raised the stakes with the Turnbull government, declaring it would not renegotiate hundreds of workplace deals to comply with the Coalition’s new building code.

The Coalition’s support has slipped to another dangerous low in the wake of divisive debates on company tax cuts and racial hatred laws, with the government trailing Labor by 47 to 53 per cent in two-party terms.

Page 4: Scott Morrison has demanded Labor reveal its position on the $5.2 billion in tax cuts passed through the Senate, as the Treasurer vows to push ahead with the Coalition’s full corporate tax plan in this term of parliament.

Page 5: The federal workplace regulator has challenged the controversial claim by ACTU secretary Sally McManus that unjust laws can be broken, declaring compliance with workplace laws was not optional.

Page 17: Interest in mergers and acquisitions is rising — particularly among opportunists eyeing beaten-down targets — as calmer markets inspire boards to consider takeovers and asset sales, giving bankers hope of more deals in the remaining nine months of the year.

In a first for Australian billionaires, Visy executive chairman Anthony Pratt has successfully conducted the Melbourne Symphony Orchestra.

One of the world’s top responsible investment specialists says the rise of millennials and women in the executive ranks of top companies will prompt more controversial decisions to buy or sell shares in listed companies based on environmental and social impact issues.

As Santos worked toward approving its company-transforming Gladstone LNG project at the start of this decade, managing director David Knox made the sensible statement that he would approve one LNG train, capable of exporting the equivalent of half the east coast’s gas demand, rather than two because the venture did not yet have enough gas for the second.

Page 18: As Rio Tinto slowly moves back into growth mode, Bold Baatar, the miner’s new energy and minerals chief, has been given a brief to search for investments and tieups in new and emerging commodities that will benefit from global trends, such as the push towards renewable energy.

Page 20: ANZ’s first significant technology release under new digital boss Maile Carnegie will be the midyear introduction of voice biometrics to enable customers to undertake higher value, more secure transactions on mobile devices.

Page 23: ABC News is planning a major refocus away from TV and radio to concentrate on expanding its digital news output in a move that could affect the 7pm flagship news.

 

The West Australian

Page 1: Malcolm Turnbull’s plan for a GST floor to protect WA from the ravages of the Commonwealth Grants Commission could be dead before it is even put in place, with warnings that the State Government faces a fresh $735 million Budget black hole.

Page 4: Treasurer Ben Wyatt has hit out against the pay packets of WA’s highest paid public servants, labelling some of their salaries as “disconnected from reality”.

Page 6: They claim to represent battlers, but Pauline Hanson’s One Nation are now the party of the jet set, joining Federal WA Liberals in luxury private flights across the continent.

Page 7: Local companies will be consulted as part of a renegotiation process for the Perth Stadium footbridge, as delays threaten this year’s Ashes cricket Test.

Page 9: WA Defence Issues Minister Paul Papalia has set a combative tone with Canberra by asking Federal counterpart Christopher Pyne to confirm that $100 million pledged by Malcolm Turnbull during the State election campaign was new money.

Almost 18,000 workers across the Federal southern WA electorate of Forrest have had their superannuation short-changed by almost $2000, according to a study that suggests many people will struggle into retirement.

Page 11: More than four in five WA households are worried about electricity price increases, according to new consumer research.

Page 57: Some of the world’s most influential internet experts have descended on Perth for an internationally renowned convention examining trends and issues to do with the world wide web.

A company few people in energy-rich WA have ever heard of has emerged as the world’s dominant buyer of LNG, has amassed interests in four Australian LNG projects and is driving the gas market to benefit Japanese buyers.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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