Morning Headlines

Coalition’s war on banks gets personal

The relationship between the government and the big banks is now toxic after Malcolm Turnbull and his senior ministers rounded on NAB chairman Ken Henry as a Labor-leaning, selfserving ‘‘big bank boss’’ and accused him of producing flawed policies in his former life as Treasury secretary. The Fin

ATO targets Australian dollar loans

Loans taken in Australian dollars by companies that derive most of their revenue in US dollars will attract uncomfortable attention from the Tax Office in a purge of mispriced debt financing. The Fin

Domain execs pitched Fairfax papers tie-up

Domain executives, led by chief executive Antony Catalano, floated moving the major mastheads – The Australian Financial Review, The Sydney Morning Herald and The Age – into the real estate classifieds and services business to Fairfax Media management last year. The proposal was rejected as commercially unviable. The Fin

Labor states hold NDIS to ransom

Malcolm Turnbull is on a collision course with four state Labor governments over funding of the National Disability Insurance Scheme as premiers warn that services such as mental health, justice and transport for disabled people could be cut if they are forced to pay more. The Aus

BHP opens door to shale sale

BHP Billiton chief Andrew Mackenzie last night said the resources heavyweight would be prepared to sell the US shale business to someone who valued it higher than the company but that a spin-off of the business would be unlikely to achieve the best value. The Aus

Former Fairfax chair Ron Walker backs TPG move as board holds out for more

Former Fairfax Media chairman Ron Walker last night endorsed private equity fund TPG Capital’s $2.76 billion move on the publisher, saying he believes they will invest in “quality journalism”. The Aus

Bishop joins Perth Mod high-rise row

Foreign Minister Julie Bishop has attacked the WA Government’s plan to move Perth’s only academically selective school to a high-rise city building, labelling it “illconceived”. The West

Zoo off the plan

The McGowan Government does not intend to proceed with former premier Colin Barnett’s plan for an open-range zoo in Lower Chittering. The West

$4b Quadrant float to hit gas supply poser

Macquarie and Brookfield will have to sell exploration potential in their planned $4 billion float of Quadrant Energy amid concern its domestic gas plants could run dry in as little as six years. The West

The Australian Financial Review

Page 1: The relationship between the government and the big banks is now toxic after Malcolm Turnbull and his senior ministers rounded on NAB chairman Ken Henry as a Labor-leaning, selfserving ‘‘big bank boss’’ and accused him of producing flawed policies in his former life as Treasury secretary.

BHP Billiton chief executive Andrew Mackenzie believes his strategy to reduce costs and unlock latent growth can grow the company by a further 50 per cent, despite the increasingly nasty campaign run against it by activist investor Elliott Associates.

Page 4: The big four banks have begun a campaign to broaden the bank levy and include international banks in a bid to find a politically acceptable compromise and share the $6.2 billion load.

Page 5: Tensions between Australia’s banks are on the verge of boiling over as yet another second-tier bank has come out in support of the federal government’s 6 basis point levy on the liabilities of our five biggest banks.

Page 9: Loans taken in Australian dollars by companies that derive most of their revenue in US dollars will attract uncomfortable attention from the Tax Office in a purge of mispriced debt financing.

Page 15: Domain executives, led by chief executive Antony Catalano, floated moving the major mastheads – The Australian Financial Review, The Sydney Morning Herald and The Age – into the real estate classifieds and services business to Fairfax Media management last year. The proposal was rejected as commercially unviable.

Page 16: The competition watchdog has slammed Tabcorp for accusing it of taking sides with objectors to the wagering giant’s proposed $11 billion merger with Tatts Group.

The Australian

Page 1: Malcolm Turnbull is on a collision course with four state Labor governments over funding of the National Disability Insurance Scheme as premiers warn that services such as mental health, justice and transport for disabled people could be cut if they are forced to pay more.

Page 4: The major banks are demanding urgent action to prevent the $6.2 billion bank levy from turning into a “blank cheque” for higher taxes, amid fears the new law will give Scott Morrison the power to extend the revenue grab without a vote in parliament.

Page 6: A former governor-general and a former defence force chief have declared constitutional indigenous recognition must produce “tangible, positive results’’, an intervention that will boost support for an elected parliamentary advisory body.

Page 19: BHP Billiton chief Andrew Mackenzie last night said the resources heavyweight would be prepared to sell the US shale business to someone who valued it higher than the company but that a spin-off of the business would be unlikely to achieve the best value.

Industry submissions on the $6.2 billion bank tax could trigger a wave of stock exchange announcements as early as tomorrow on the financial impact of the controversial impost on the big four commercial banks and Macquarie Group.

Former Fairfax Media chairman Ron Walker last night endorsed private equity fund TPG Capital’s $2.76 billion move on the publisher, saying he believes they will invest in “quality journalism”.

Page 20: West Australian Treasurer Ben Wyatt is putting together his first budget and dealmakers around the country are eagerly watching the Labor state government’s expected asset privatisation program.

The West Australian

Page 3: The Federal Government will pay to help South Australian shipbuilders poach skilled workers from WA after admitting the Adelaide facilities at the centre of its $90 billion naval plan do not have the capability to do the job.

Page 4: Foreign Minister Julie Bishop has attacked the WA Government’s plan to move Perth’s only academically selective school to a high-rise city building, labelling it “illconceived”.

The McGowan Government does not intend to proceed with former premier Colin Barnett’s plan for an open-range zoo in Lower Chittering.

Page 11: A rogue HSBC financial planner, who enticed an elderly couple to invest $800,000 into a low-risk investment product then forged signatures and documents so he could instead invest in a friend’s offshore business, has been jailed for almost two years.

Page 12: The former chief executive of the City of Perth — whose contract was terminated with little explanation last year — will be subpoenaed to appear at a hearing which will decide the fate of Lord Mayor Lisa Scaffidi.

Page 16: Universities have demanded the Senate block the Turnbull Government’s higher education changes, rejecting the proposed “double whammy” on students of higher fees and funding cuts.

Page 29: Macquarie and Brookfield will have to sell exploration potential in their planned $4 billion float of Quadrant Energy amid concern its domestic gas plants could run dry in as little as six years.

Page 72: BGC’s $500 million, 28-level Westin Hotel development at 480 Hay Street is to spearhead a revival of the drab, shabby eastern side of Perth’s central business district.

The developer of the $270 million Kings Square Fremantle revitalisation project, Sirona Capital, has appointed CBRE to advise on unsolicited bids from Australian and offshore institutional investors.