04/04/2017 - 06:39

Morning Headlines

04/04/2017 - 06:39

Bookmark

Upgrade your subscription to use this feature.
Morning Headlines

ASIC warns of sub-prime lending risks

The chair of the corporate watchdog is leading a crackdown on home-lending practices to avoid the mistakes that led to the 2008 house price crash in the United States. The Fin

 

Budget will contain tax hikes: Cormann

Finance Minister Mathias Cormann has confirmed there will be tax increases in the May budget but says the government will adhere to its medium-term target of the overall tax take not exceeding 23.9 per cent of the economy. The Fin

 

GST ‘powerful grievance’ as WA Libs warn Turnbull

Federal Liberal MPs from Western Australia have warned Malcolm Turnbull directly of an electoral backlash in their state as they stepped up their push for an independent review of how the revenue from the GST is distributed. The Fin

 

Borrowing splurge to fuel shock

Australia’s growing dependence on borrowing to buy and build homes has prompted warnings the economy faces a serious shock, increasing the pressure on regulators to act carefully before further tightening the screws on the fragile property market. The Aus

 

Building giant mulls appeal over ABCC ban

One of the nation’s biggest private construction companies, Hutchinson Builders, is considering appealing a landmark ban on tendering for commonwealth work, declaring the government sanction unwarranted as the company committed “relatively minor’’ breaches of the building code. The Aus

 

Downer doubts as new Spotless suitors arise

Downer EDI’s $1.3 billion bid for Spotless has taken a hit as new suitors emerge and a New York-based asset manager builds a blocking stake. The Aus

 

GST shock puts credit rating at risk

The latest carve-up of the GST that has left WA short-changed by hundreds of millions of dollars could deliver another hit to the State’s credit rating. The West

 

Deaths, injuries as blast rips apart Russian train

At least 10 people were killed and many injured when an “explosive device” was detonated on the subway in the Russian city of St Petersburg last night. The West

 

Beach revamp woes spell end for cafe

Disruption caused by the $75 million Scarborough beachfront redevelopment has claimed its first scalp, with a local cafe forced to close as trade plummets. The West

 

The Australian Financial Review

Page 1: The chair of the corporate watchdog is leading a crackdown on home-lending practices to avoid the mistakes that led to the 2008 house price crash in the United States.

Page 2: The Commonwealth government should introduce billions of dollars worth of new incentive payments to the states to act as a circuit breaker in the current reform logjam, according to the industry body representing Australia’s major infrastructure players.

Page 3: The number of Australians caught up in the global Credit Suisse investigation continues to rise as the Australian Taxation Office confirmed on Monday it had obtained details of more than 1000 of the bank’s accounts linked to local clients.

Page 4: Finance Minister Mathias Cormann has confirmed there will be tax increases in the May budget but says the government will adhere to its medium-term target of the overall tax take not exceeding 23.9 per cent of the economy.

Federal Liberal MPs from Western Australia have warned Malcolm Turnbull directly of an electoral backlash in their state as they stepped up their push for an independent review of how the revenue from the GST is distributed.

Page 6: Demand for property investment loans is so strong that Australia’s largest mutual bank, CUA, has decided to stop writing new loans for property investors altogether.

Page 9: Company directors have called on the government to review negative gearing because its ‘‘unfortunate’’ nexus with the 50 per cent capital gains tax discount is making housing less affordable.

Page 13: Spotless is ‘‘exploring alternatives’’ to Downer EDI’s $1.2 billion takeover bid after receiving overtures from other players, as its second-biggest shareholder, New York hedge fund Coltrane Asset Management, revealed it was ready to reject the offer.

Rio Tinto believes a copper shortage will emerge this year, as interruptions to supply at three of the world’s biggest mines start to take a toll.

 

The Australian

Page 1: Australia’s growing dependence on borrowing to buy and build homes has prompted warnings the economy faces a serious shock, increasing the pressure on regulators to act carefully before further tightening the screws on the fragile property market.

Eligibility rules for the $22 billion National Disability Insurance Scheme must be greatly tightened to ensure its long-term viability, potentially barring tens of thousands from access to the scheme, stakeholders have warned.

One of Australia’s most celebrated Olympians has quit the Australian Olympic Committee board amid an increasingly rancorous struggle for control between long-serving president John Coates and challenger Danielle Roche.

Page 4: Public sector wages jumped $3 billion, or 16 per cent, in the first two years of the Andrews government, with the headcount rising far higher behind the scenes in the bureaucracy than in frontline services.

Page 6: One of the nation’s biggest private construction companies, Hutchinson Builders, is considering appealing a landmark ban on tendering for commonwealth work, declaring the government sanction unwarranted as the company committed “relatively minor’’ breaches of the building code.

Page 7: Mathias Cormann’s “pragmatic” negotiating style has won over key Senate crossbenchers as he takes the lead in brokering deals on the government’s economic agenda .

The Turnbull government is challenging Bill Shorten to tell voters he will roll back the government’s tax cuts for three million employers, in a row over Labor’s claim there will be a 20-year wait for the full growth dividend from the cuts.

Page 17: Regulators have doubled down on measures to quell runaway property prices, the corporate watchdog yesterday announcing a probe into banks’ and mortgage brokers’ handling of interest-only loans that now account for 40 per cent of the nation’s housing finance.

Page 18: Downer EDI’s $1.3 billion bid for Spotless has taken a hit as new suitors emerge and a New York-based asset manager builds a blocking stake.

 

The West Australian

Page 1: The car tyres of outgoing prisons boss James McMahon were slashed and one of his senior executives had their vehicle doused with paint stripper during a hostile period of sweeping reforms to the Department of Corrective Services.

Page 3: A fresh dispute has erupted between the new State Government and builder John Holland over a completion date for the troubled plagued Perth Children’s Hospital.

Page 4: The latest carve-up of the GST that has left WA short-changed by hundreds of millions of dollars could deliver another hit to the State’s credit rating.

The Reserve Bank and regulators, already worried by the nation’s property market, have been delivered a new headache with house values across the country accelerating at their fastest rate in seven years.

Page 6: At least 10 people were killed and many injured when an “explosive device” was detonated on the subway in the Russian city of St Petersburg last night.

Disruption caused by the $75 million Scarborough beachfront redevelopment has claimed its first scalp, with a local cafe forced to close as trade plummets.

Page 17: The mere thought of it is enough for Damian Martin to put his passion for horse-riding on hold for the next year.

Page 52: A former Mitsui gas asset manager faces up to a decade in jail after being busted buying shares in a coal seam gas player when advising a potential bidder.

Live export trader Wellard has pushed back its expected return to profitability, admitting it may not make money even next financial year.

A long-running stoush between some high-profile investors and the developers of a troubled Busselton resort that was marketed in boom times may have come to a conclusion.

Page 53: Paladin Energy’s $39.5 million deal to sell a majority stake in its Manyingee uranium project has become the first casualty of the change of State Government, with the potential buyer citing “political factors” for is struggle to raise cash for the acquisition.

The Australian Institute of Company Directors wants the GST broadened to include education, health and fresh food as part of its renewed push for a national reform agenda.

Page 54: Shares in MACA were up after the contractor was named preferred tenderer for bulk earthworks at Gold Road Resources’ Gruyere joint venture project about 200km east of Laverton.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options