21/04/2017 - 06:41

Morning Headlines

21/04/2017 - 06:41

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House wars: Labor to hit super funds

Self-managed superannuation funds would be banned from borrowing money and foreign investors buying residential property face higher fees and penalties under an expanded housing affordability policy to be unveiled by federal Labor. The Fin

 

FTA exemptions water down visa restrictions

Tight new restrictions on temporary foreign workers will not apply to free trade agreements already signed with China, South Korea or Japan, prompting Labor to question just how effective this week’s abolition of the 457 visa scheme will be. The Fin

 

Australia’s biggest tax case nears end

Chevron will learn on Friday whether it has prevailed in a landmark tax battle that has ramifications for the multibillion-dollar loans that multinationals use to finance their activities in Australia. The Fin

 

Gas supply crisis now ‘worst-case’

Businesses that rely heavily on gas are facing a price crisis that will force some to close their doors, the nation’s competition tsar has warned, as he vowed to use special powers to force gas suppliers to reveal the confidential terms of their contracts. The Aus

 

ALP buys time over citizen changes

Bill Shorten is holding out against Malcolm Turnbull’s demand for swift Labor support for tougher citizenship laws as Labor MPs dismiss the need for the changes and warn against more stringent tests. The Aus

 

Macquarie in $4bn ‘green’ UK bank buy

Macquarie Group has become a major player in the British renewable energy market with a £2.3 billion ($3.92bn) swoop on the UK government’s Green Investment Bank. The Aus

 

Canberra backs pipeline to east

The Federal Government has said a gas pipeline from WA to the Eastern States is appealing, despite concerns it might not carry enough gas to bring down prices. The West

 

Woodside backing for Wheatstone phase-in

Wheatstone operator Chevron has made a “sensible” decision to start offshore production in phases to meet a mid-year target for first LNG, according to project shareholder Woodside Petroleum. The West

 

Court blocks Palmer payout

Clive Palmer has been denied a $US40 million cash injection after the Court of Appeal yesterday reversed decisions requiring China’s CITIC to make royalty payments ahead of a full trial in the long-running dispute between the pair. The West

 

The Australian Financial Review

Page 1: Self-managed superannuation funds would be banned from borrowing money and foreign investors buying residential property face higher fees and penalties under an expanded housing affordability policy to be unveiled by federal Labor.

Loyalty programs, data analytics and in-store experiences will become the weapons of choice as Australian retailers fight to protect sales and earnings from online retail behemoth Amazon.

Page 4: Young Australians who don’t own a home or hope to buy one are suffering a savage cut in their real wages given the rapidly rising cost of property, according to a modelling that adds dwelling prices to inflation figures.

Page 6: Tight new restrictions on temporary foreign workers will not apply to free trade agreements already signed with China, South Korea or Japan, prompting Labor to question just how effective this week’s abolition of the 457 visa scheme will be.

Page 10: Chevron will learn on Friday whether it has prevailed in a landmark tax battle that has ramifications for the multibillion-dollar loans that multinationals use to finance their activities in Australia.

Page 17: The world’s biggest copper mine, Escondida, is still months away from producing at full capacity despite a strike ending there almost one month ago.

The British government has finally approved Macquarie Group’s £2.3billion ($3.9 billion) acquisition of the British government-owned Green Investment Bank, despite criticism of the deal from a range of parliamentarians.

Page 18: James Packer may have rapidly shrunk his global empire, but there’s one place outside Australia where the casino mogul is not pulling back, and that’s Japan.

 

The Australian

Page 1: Businesses that rely heavily on gas are facing a price crisis that will force some to close their doors, the nation’s competition tsar has warned, as he vowed to use special powers to force gas suppliers to reveal the confidential terms of their contracts.

The Productivity Commission has slammed the Turnbull government’s strategy of relocating public service operations to regional towns, warning that it will have an impact on effectiveness and impose costs on taxpayers that exceed regional benefits.

Page 2: Iron ore prices have dropped back to the level predicted in the midyear budget update, with further falls expected. However, analysts say next month’s budget will still include windfall gains from booming Chinese demand for Australia’s commodities.

Page 6: Bill Shorten will target a $24 billion “explosion” in borrowing in a new bid today to tackle housing affordability, pledging to stop property investors using their superannuation funds to take on debt and drive up prices.

Page 7: Bill Shorten is holding out against Malcolm Turnbull’s demand for swift Labor support for tougher citizenship laws as Labor MPs dismiss the need for the changes and warn against more stringent tests.

Page 19: Macquarie Group has become a major player in the British renewable energy market with a £2.3 billion ($3.92bn) swoop on the UK government’s Green Investment Bank.

Energy major AGL will today launch its first brand revamp for a decade as part of its $300 million digital upgrade.

 

The West Australian

Page 3: The State Government has taken possession of the Perth Children’s Hospital, 18 months later than first scheduled, and with lead continuing to contaminate the building’s water.

Page 6: The Federal Government has said a gas pipeline from WA to the Eastern States is appealing, despite concerns it might not carry enough gas to bring down prices.

Page 7: The toxic battle for control of Australia’s Olympic movement has intensified, with revelations the Australian Olympic Committee paid $6.4 million in commissions to sponsorship agencies in the lead-up to the Rio Games — almost a third of what it spent on the team.

Page 14: Internet service providers such as Telstra and iiNet could be forced to take responsibility for scrubbing the web of viruses and malware under laws being considered by the Federal Government.

Former prime minister Tony Abbott is outraged that secret internal polling has been leaked showing he risked losing his blue-ribbon seat until Prime Minister Malcolm Turnbull gave his election campaign a last-minute boost.

Page 18: More than 5000 litres of diesel spilt from a storage tank at TransWA’s East Perth bus depot at the weekend, with some going into Perth’s drainage system.

Page 22: Bill Shorten has sought to preempt the Turnbull Government’s Budget centrepiece, unveiling a housing affordability package that includes a nationwide tax on properties deliberately left vacant by landlords.

Page 63: A Chinese company yesterday walked away from its $US1.3 billion purchase of Barrick Gold Corporation’s 50 per cent stake in the Kalgoorlie Super Pit — and then confirmed its $330 million acquisition of a gold mining hub at Southern Cross.

Wheatstone operator Chevron has made a “sensible” decision to start offshore production in phases to meet a mid-year target for first LNG, according to project shareholder Woodside Petroleum.

Page 64: Clive Palmer has been denied a $US40 million cash injection after the Court of Appeal yesterday reversed decisions requiring China’s CITIC to make royalty payments ahead of a full trial in the long-running dispute between the pair.

Mineral sands miner Iluka Resources has more than doubled first-quarter revenue after its recent takeover of Sierra Leone miner Sierra Rutile. Iluka reported revenue of $218.5 million for the three months to March 31, up from $102.1 million a year ago, reflecting the increase in sales.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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