01/05/2017 - 06:45

Morning Headlines

01/05/2017 - 06:45

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Morning Headlines

‘Turning point for better times’

Treasurer Scott Morrison says governments can build infrastructure projects more cheaply and effectively than the private sector, justifying the ‘‘good debt’’ focus of his second budget that next week will foreshadow a turning point to ‘‘better times’’ for Australian households. The Fin

 

Victoria, SA suspicious of GST inquiry

The federal government has set up an inquiry into how to share out the $60 billion a year of GST revenue between the states, but Victoria and South Australia immediately slammed it as a political stunt to placate Western Australian Coalition backbenchers. The Fin

 

Seven CEO Worner ‘too valuable to fire’

Seven West Media chairman Kerry Stokes refused to sack chief executive Tim Worner over an embarrassing affair with a secretary because of concerns he would be lured to run a rival broadcaster such as Network Ten Holdings. The Fin

 

Welfare hit to target ‘cheats’

More than 20,000 jobseekers are deliberately “gaming the system” by turning up to Centrelink appointments just to get paid, new figures show, as the government prepares to target in next week’s budget “capable” people who refuse to work. The Aus

 

Banks set for $13bn earnings bonanza

The big four banks are expected to unveil profits in excess of $13 billion over the next two weeks, with recent independent interest rate hikes, aimed largely at property investors, expected to boost earnings into the future. The Aus

 

Mt Gibson Iron takes an interest in Wesfarmers’ east coast coalmines

Mount Gibson Iron is believed to be considering a bid for Wesfarmers’ Curragh coalmine, which is up for sale through investment bank UBS and advisory firm Gresham. The Aus

 

Push to test QEII workers for lead

WA’s nursing union has called on the State Government to provide free blood tests after revelations excess lead levels were last month found in water within the QEII Medical Centre, including Sir Charles Gairdner Hospital. The West

 

Pyne snub leaves WA shipbuilders all at sea

WA’s claim for a greater share of tens of billions of dollars in defence shipbuilding work looks shaky, with Federal Defence Industry Minister Christopher Pyne accused of refusing to meet the State Government. The West

 

McGowan support irks union leaders

Union bosses have told Mark McGowan to butt out of the race to head the WA Labor Party after the Premier took the unusual step of publicly backing a senior figure from the Left for the job. The West

 

The Australian Financial Review

Page 1: Treasurer Scott Morrison says governments can build infrastructure projects more cheaply and effectively than the private sector, justifying the ‘‘good debt’’ focus of his second budget that next week will foreshadow a turning point to ‘‘better times’’ for Australian households.

Continuing soft growth in wages and jobs means a $100 billion surge in national income this year will not stop a modest deterioration in the numbers in the federal budget next week, but the country’s AAA credit rating is not in any immediate threat, according to Deloitte Access Economics.

Page 3: The federal government has set up an inquiry into how to share out the $60 billion a year of GST revenue between the states, but Victoria and South Australia immediately slammed it as a political stunt to placate Western Australian Coalition backbenchers.

Page 8: Seven West Media chairman Kerry Stokes refused to sack chief executive Tim Worner over an embarrassing affair with a secretary because of concerns he would be lured to run a rival broadcaster such as Network Ten Holdings.

Prime Minister Malcolm Turnbull and US President Donald Trump will meet for the first time this week and discuss how to respond to a defiant North Korea’s repeated missile tests as tensions between Washington and Pyongyang escalate.

Page 13: Bank investors are set for profit boosts this week, the spoils of the major lenders’ moves to jack up lending rates in response to a regulatory crackdown on debt-fuelled property speculation.

Page 16: Investors will comb Macquarie Group’s full-year results announcement for any signals about future earnings drivers and hints on succession planning.

 

The Australian

Page 1: More than 20,000 jobseekers are deliberately “gaming the system” by turning up to Centrelink appointments just to get paid, new figures show, as the government prepares to target in next week’s budget “capable” people who refuse to work.

The Australian Olympic Committee cannot have good governance and independent decisionmaking until John Coates is removed as president, a group of leading women in business and sport has declared.

Page 2: The Queensland government has approved a licence for a critical pipeline linking the resource-rich Bowen Basin and the east-coast gas market, as a bitter stoush broke out between Premier Annastacia Palaszczuk and Malcolm Turnbull over gas policy.

Page 4: Scott Morrison has sparked a furious row with the states over the carve-up of GST payments after bending to demands from Western Australia for a review of how the tax is distributed.

Page 5: Health funds would be compelled to offer a standard, low-cost insurance policy under a proposal being developed by stakeholders on a key ministerial advisory committee.

Page 17: The Australian Prudential Regulation Authority, which oversees the sector, could not say how much profit had been earned from superannuation products by the banks in the last financial year, in responses to questions on notice from a recent Senate hearing.

The big four banks are expected to unveil profits in excess of $13 billion over the next two weeks, with recent independent interest rate hikes, aimed largely at property investors, expected to boost earnings into the future.

Page 18: Mount Gibson Iron is believed to be considering a bid for Wesfarmers’ Curragh coalmine, which is up for sale through investment bank UBS and advisory firm Gresham.

Page 19: Sandalwood plantation marketing company Quintis, which is under siege by short-selling US hedge fund Glaucus, may have found a replacement for a key Chinese customer.

 

The West Australian

Page 2: A final decision on whether full strength beer will be sold at the new Perth Stadium is still to be made — but the issue has divided football fans.

WA’s nursing union has called on the State Government to provide free blood tests after revelations excess lead levels were last month found in water within the QEII Medical Centre, including Sir Charles Gairdner Hospital.

Page 4: WA’s hopes for a better GST deal is at risk of being torpedoed just 24 hours after the Federal Government announced a review, with other States digging in against any change.

Page 5: Most WA farmers are sowing their crops into dry soil after a lack of April showers, and have been warned to brace for below-average rainfall in coming months.

Page 6: Four derelict, concreted Perth City Link Roe Street lots are to be transformed into a thriving student and residential community in the middle of Perth.

Page 7: The southern Perth postcode of Baldivis is Australia’s solar capital, with more than two-thirds of houses in the suburb generating their own power from the sun.

Page 9: Union bosses have told Mark McGowan to butt out of the race to head the WA Labor Party after the Premier took the unusual step of publicly backing a senior figure from the Left for the job.

Page 54: WA’s claim for a greater share of tens of billions of dollars in defence shipbuilding work looks shaky, with Federal Defence Industry Minister Christopher Pyne accused of refusing to meet the State Government.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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