26/05/2017 - 06:42

Morning Headlines

26/05/2017 - 06:42

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Monopoly fears over shipyards

Taxpayers risk being exposed financially because of the Turnbull government’s policy of creating monopoly shipyards in Adelaide and Perth to build the next generation of surface ships and submarines, a top defence analyst warns. The Fin

 

Macmahon close to deal with AMNT but CIMIC might have ‘final’ say

Mining contractor Macmahon Holdings is expected to be closely watched in the weeks before it finalises its deal with its Indonesian white knight, with some betting that former suitor CIMIC could emerge with a fresh takeover bid for the group. The Aus

 

Hope that Topshop can be saved

Administrators are confident they can secure a long-term future for Topshop in Australia. The West

 

Banks must win back lost trust: Gonski

ANZ chairman David Gonski has called on the banks to accept that the government’s new $6.2 billion major bank levy will become law, and to repair the sector’s damaged relationship with Canberra. The Aus

 

MP urges all leaders to push on GST

WA’s most prominent business leaders and organisations need to argue the case for a better GST deal in the boardrooms and on the street corners of the rest of the country, according to a key Federal Liberal MP. The West

 

Banks didn’t see tax coming

Australia’s banks spent almost $7 million in a year trying to fix their image and ward off a royal commission but the strategy had ‘‘close to zero’’ effect on consumers or public perception, freeing the federal government to ambush the sector in the budget with a $6.2 billion tax. The Fin

 

Growth fears as consumers cut spending

Worried Australian consumers are increasingly cutting back spending on discretionary items as they grapple with big home loans and uncertainty about holding onto their jobs, and the consequences are hitting a range of listed companies in the retail, automotive and industrial sectors. The Fin

 

Plan to sting weekend punters ‘casts doubt’ on Tabcorp’s evidence

Gaming giant Tabcorp would charge weekend punters more under a secret plan to introduce Uber-style surge pricing. The Aus

  

Koyu fights for Joanna Plains

Melbourne farm and meatworks investor Rami Koyu has vowed to wrest control of Joanna Plains property back from clutches of receivers called in by companies linked to Monacobased businessman Ric Stowe. The West

  

The Australian Financial Review

Page 1: Australia’s banks spent almost $7 million in a year trying to fix their image and ward off a royal commission but the strategy had ‘‘close to zero’’ effect on consumers or public perception, freeing the federal government to ambush the sector in the budget with a $6.2 billion tax.

Page 3: Taxpayers risk being exposed financially because of the Turnbull government’s policy of creating monopoly shipyards in Adelaide and Perth to build the next generation of surface ships and submarines, a top defence analyst warns.

Page 8: The NSW Labor opposition has called on the owners of the state’s energy networks, including industry super funds, to hold down power prices voluntarily despite a court victory that could result in rises of $100 a household.

Page 9: BHP Billiton chairman Jac Nasser has called on leadership at all levels of Australian government and commerce to commit to a decade of broad-based reforms that are necessary to defend the national economy from the creeping threats posed by corporate globalisation.

Page 17: Worried Australian consumers are increasingly cutting back spending on discretionary items as they grapple with big home loans and uncertainty about holding onto their jobs, and the consequences are hitting a range of listed companies in the retail, automotive and industrial sectors.

Page 20: The corporate regulator is poised to release stringent guidelines around Chinese walls at stockbroking firms, to ‘‘preserve the independence’’ of research after a string of incidents, chairman Greg Medcraft said on Thursday.

ResMed founder and chairman Peter Farrell believes US healthcare reform and tax changes will benefit the $13.2 billion medical device maker.

 

The Australian 

Page 2: The Australian Electoral Commission last night confirmed it had launched a formal investigation into the use of a $106,000 plane by Pauline Hanson’s One Nation party.

An extra $649 million a year will be spent by the Turnbull government to create almost 10,000 additional spaces in residential aged-care centres across the nation, as South Australia’s corruption watchdog investigates Adelaide’s state-run Oakden nursing home.

Page 6: The government’s $18.6 billion school funding plan is hanging by a thread as key Senate voting blocs harden their stand against the reforms amid disputes over Catholic school fee hikes and a union campaign to veto the changes.

Page 19: Gaming giant Tabcorp would charge weekend punters more under a secret plan to introduce Uber-style surge pricing.

ANZ chairman David Gonski has called on the banks to accept that the government’s new $6.2 billion major bank levy will become law, and to repair the sector’s damaged relationship with Canberra.

Page 20: Mining contractor Macmahon Holdings is expected to be closely watched in the weeks before it finalises its deal with its Indonesian white knight, with some betting that former suitor CIMIC could emerge with a fresh takeover bid for the group.

Page 21: Alumina chairman John Pizzey, who also sits on the board of packaging company Orora, says Australia’s energy-intensive industry will go under and small manufacturers will struggle to survive if the nation’s politicians can not compromise on energy policy.

 

The West Australian 

Page 12: A drill bit used by a surgeon at Geraldton Regional Hospital broke off and remained in a patient post-surgery in one of two examples of life-threatening equipment failure contained in an official audit.

Students from Perth Modern School protested on the steps of Parliament yesterday against plans to relocate the school to a new high-rise building in Northbridge.

Page 13: WA’s most prominent business leaders and organisations need to argue the case for a better GST deal in the boardrooms and on the street corners of the rest of the country, according to a key Federal Liberal MP.

Page 14: The $3.1 million restoration of the Fremantle Town Hall — considered the most significant heritage project in the port city’s recent history — will be unveiled today.

Page 17: The first signs of winter have hit Perth hospital emergency departments early with more patients arriving with flu-like illnesses and ambulance ramping rising sharply.

Page 58: Melbourne farm and meatworks investor Rami Koyu has vowed to wrest control of Joanna Plains property back from clutches of receivers called in by companies linked to Monaco based businessman Ric Stowe.

Dacian Gold boss Rohan Williams has delivered a cautionary tale for mining companies trying to raise cash amid fickle equity and commodity markets in which investor sentiment can turn on a dime.

Finbar says the settlement of sales from a third apartment tower — Perth’s tallest — on the former ABC Symphony City site will contribute “significantly” to second-half earnings.

Page 59: Administrators are confident they can secure a long-term future for Topshop in Australia.

 

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