07/06/2017 - 06:47

Morning Headlines

07/06/2017 - 06:47

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$15m Subi Pavilion discount

Victorian Liberal Party heavyweight Andrew Abercrombie appears to have agreed to take a $15 million-plus hit on the sale of the landmark Pavilion Market site at the top end of Rokeby Road in Subiaco. The West

 

AFL confident despite new stadium stand-off

The AFL has waved away concerns Eagles and Dockers games might not be played at the new Perth Stadium from next year, despite a meeting with the State Government failing to provide a breakthrough. The West

 

More coal than gas under LET scheme

The government’s plan for a low emissions target to combat climate change would provide a more stable transition towards clean energy because it would not drive coal-fired power out of the market as quickly as an emissions intensity scheme. The Fin

 

Adani green light hangs on rail cash

Indian energy giant Adani has ramped up pressure on the Turnbull government to use taxpayers’ money to deliver a $1 billion concessional loan for its controversial Carmichael mine, with the company saying it would ‘‘review its options’’ if it missed out on the funding. The Fin

 

Recession fear as growth slows

Australia has posted its biggest trade surplus since the 1970s on the back of surging coal and iron ore prices, but economists are tipping the domestic economy has ground to a halt as despondent consumers rein in spending. The Aus

 

Take long-term health road: Bupa

The head of Australia’s largest private health insurer, Richard Bowden, warns short-term thinking on health care policy and a lack of bipartisan support could stifle much-needed sector reform.The Aus

 

Foxtel’s rebranding to help boost subscribers

Foxtel chief executive Peter Tonagh has unveiled sweeping changes to the pay television giant’s marketing, strategy and technology to help push its market penetration higher than 30 per cent. The Fin

 

Minimum pay hike ‘risks benefits of penalty cuts’

Employers have warned that the Fair Work Commission’s decision to deliver the biggest annual increase in the minimum wage for six years will hurt the unemployed and blunt job opportunities they insist will be created by simultaneous cuts to penalty rates. The Aus

 

Feds throw explorers a bone

Federal Resources Minister Matt Canavan says he will reconsider scrapping a tax-based incentive scheme to help cash poor explorers launch drilling programs if he sees evidence the industry is using the perk. The West

 

The Australian Financial Review

Page 1: Indian energy giant Adani has ramped up pressure on the Turnbull government to use taxpayers’ money to deliver a $1 billion concessional loan for its controversial Carmichael mine, with the company saying it would ‘‘review its options’’ if it missed out on the funding.

Page 3: Economists have rejected the Fair Work Commission’s reasoning in raising the minimum wage 3.3 per cent at a time of record-low wage growth, saying it will cost jobs.

Page 4: Treasurer Scott Morrison has ramped up warnings of a temporary slump in economic growth as the Reserve Bank of Australia shrugged off the need for additional interest rate cuts to support income-squeezed households.

Page 7: AGL Energy is set to announce a new 210-megawatt gas-fired power plant in energy-starved South Australia, apparently having rapidly reworked the investment blueprint for the state that it ditched in March.

Page 8: The government’s plan for a low emissions target to combat climate change would provide a more stable transition towards clean energy because it would not drive coal-fired power out of the market as quickly as an emissions intensity scheme.

Page 13: Murray Goulburn’s decision to offer dairy farmers a lower-than-expected milk price has set the scene for a major upheaval of the dairy industry, as rival processors weigh up whether to break ranks and exact further pain on the besieged co-operative by offering a higher price.

A scientific study of blockchain by the CSIRO’s specialist Data61 unit has found the management of supply chains, including trade finance and insurance, as a ‘‘highly promising’’ use case for the emerging technology, which will enhance productivity across the agriculture, banking, healthcare, logistics and public sectors and help business and government manage the deluge of data about to be unleashed by the internet of things.

Page 15: Foxtel chief executive Peter Tonagh has unveiled sweeping changes to the pay television giant’s marketing, strategy and technology to help push its market penetration higher than 30 per cent.

 

The Australian

Page 1: Employers have warned that the Fair Work Commission’s decision to deliver the biggest annual increase in the minimum wage for six years will hurt the unemployed and blunt job opportunities they insist will be created by simultaneous cuts to penalty rates.

Page 7: Activists will ramp up the anti-Adani campaign against a possible federal government loan of up to $1 billion to the Indian conglomerate, after the company gave the green light to its $16.5bn Galilee Basin coalmine.

Page 8: Australia has posted its biggest trade surplus since the 1970s on the back of surging coal and iron ore prices, but economists are tipping the domestic economy has ground to a halt as despondent consumers rein in spending.

Page 19: The Reserve Bank has continued to distance itself from further interest rate cuts to support economic growth as policymakers confront the risks of an overheated housing market.

The head of Australia’s largest private health insurer, Richard Bowden, warns short-term thinking on health care policy and a lack of bipartisan support could stifle much-needed sector reform.

Page 20: The threat of the arrival of online retailer Amazon is starting to bite for Australia’s largest listed shopping centre landlords, with more than $7 billion wiped from their market value in the past year.

Page 21: AGL Energy will extend the life of its Torrens Island gas-fired power plant near Adelaide by building a new 210 megawatt plant at the site.

Woodside Petroleum has struck a multibillion-dollar liquefied natural gas sales agreement with Indonesia’s Pertamina in what is likely to be the largest-ever single trade deal between Australia and its northern neighbour.

  

The West Australian

Page 11: The AFL has waved away concerns Eagles and Dockers games might not be played at the new Perth Stadium from next year, despite a meeting with the State Government failing to provide a breakthrough.

Page 13: Transport officials are confident that a new city bus-only bridge — which will open in less than three weeks — will save up to six minutes on peak-hour journeys to and from the northern suburbs.

Page 16: A lawyer who botched the preparation of a 99-year-old woman’s will then lied to the Supreme Court about his dealings with her has promised never to practise law again.

Page 17: The pall of gloom hanging over the WA restaurant sector is obscuring a more rosy set of figures, according to industry group the Restaurant and Catering Association of Australia.

Page 19: WA businesses have warned they may have to cut hours or staff numbers after the Fair Work Commission delivered the biggest increase in the minimum wage in seven years.

Page 21: The technology was promised free of charge but NBN customers are being slugged with six-figure bills to upgrade their connection.

Page 26: WA’s potato war is no more after rebel grower Tony Galati and the State Government brokered a truce in which the Spudshed owner pleaded guilty to contempt of court after growing tonnes more spuds than he was allowed.

Page 33: Federal Resources Minister Matt Canavan says he will reconsider scrapping a tax-based incentive scheme to help cash poor explorers launch drilling programs if he sees evidence the industry is using the perk.

Flinders Mines’ new boss David McAdam hopes long-suffering shareholders will continue to be patient while the company sets itself up to have its flagship Pilbara iron ore project operating in five years’ time.

Page 34: Chevron paid no tax in Australia last year after recording a $US542 million loss but has made provisions which reflect its landmark battle with the Australian Taxation Office over inter-company loans.

Page 74: Victorian Liberal Party heavyweight Andrew Abercrombie appears to have agreed to take a $15 million-plus hit on the sale of the landmark Pavilion Market site at the top end of Rokeby Road in Subiaco.

Page 75: Property developers Danny Psaros and Mike Enslin are branching out into property syndication with a new company, Quadrant Investments.

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