09/06/2017 - 06:48

Morning Headlines

09/06/2017 - 06:48

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The big Aussie backs WA GST push

BHP has weighed into the GST debate, backing WA’s calls for an overhaul of the way the revenue is carved up between the States. The West

 

$2.6b shortfall a new blow for State Budget

WA’s budgetary position is in freefall, with Treasurer Ben Wyatt revealing the Government has lost $2.6 billion in forecast revenue since February. The West

 

Lendlease breaks CFMEU code block

Lendlease has pushed through opposition from the Construction, Forestry, Mining and Energy Union to secure one of the first major enterprise agreements that complies with the Turnbull government’s strict new building code. The Fin

 

Price war fears hit Wesfarmers outlook

Analysts cut profit forecasts and share price targets for Wesfarmers on Thursday amid growing fears of a ‘‘destructive’’ supermarket price war. The Fin

 

Gina’s Chinese live export deal

Australian billionaire Gina Rinehart has inked an agreement with China to export live cattle to the economic powerhouse in a deal that could be valued at more than $500 million if the maximum export capacity is reached. The Aus

 

Time to fix power shock

Chief Scientist Alan Finkel will tell state and federal leaders on Friday that a clean energy target will have the lowest impact on power prices of any scheme, and will be cheaper than continuing to do nothing. The Fin

 

Donations row engulfs PM’s team

A senior member of Malcolm Turnbull’s campaign team had directly solicited a political donation prior to last year’s election campaign from Chinese born Australian billionaire Chau Chak Wing, who is now at the centre of a political storm over foreign donations and political influence. The Aus

 

Prices to ignite gas export controls

The federal government’s controversial east coast gas export restrictions will be triggered if domestic gas prices rise too high and will hand full control over LNG exports to Resources Minister Matthew Canavan, according to draft rules released this week. The Aus

 

Feds hit sea container in Caratti land profits hunt

The Australian Taxation Office has seized 181 boxes of documents from a sea container in Southern River as part of its battle with interests linked to land developer Allen Caratti. The West

 

The Australian Financial Review 

Page 1: Chief Scientist Alan Finkel will tell state and federal leaders on Friday that a clean energy target will have the lowest impact on power prices of any scheme, and will be cheaper than continuing to do nothing.

Page 5: Victorian households are about to get slammed by the second increase in electricity prices this year as the impact of the shutdown of cheap coal-fired power and the soaring gas price filters through to power bills.

When Lyon Group sought funding for a solar battery farm near Cooktown from the Australian Renewable Energy Agency in 2015 it took a record six visits to the agency’s technical committee to win it’s backing.

Page 9: Lendlease has pushed through opposition from the Construction, Forestry, Mining and Energy Union to secure one of the first major enterprise agreements that complies with the Turnbull government’s strict new building code.

Page 10: Major banks are getting a combined billion-dollar boost to their market power and profits from regulators’ tightening lending to property investors, according to MyState chief executive Melos Sulicich.

Page 17: Vocus Group’s largest shareholder believes Kohlberg Kravis Roberts & Co’s $2.2 billion bid for the telecommunications business is taking advantage of a depressed share price and the company’s assets will deliver higher earnings in time.

Page 19: Analysts cut profit forecasts and share price targets for Wesfarmers on Thursday amid growing fears of a ‘‘destructive’’ supermarket price war.

Page 22: The mining industry needs to build better relationships with the communities it operates in if it is to combat rising shareholder activism, South32 chief executive Graham Kerr says.

  

The Australian

Page 1: Donald Trump says he feels vindicated by the sensational written testimony of former FBI chief James Comey, despite claims the President pressured the FBI over its Russia investigation.

A senior member of Malcolm Turnbull’s campaign team had directly solicited a political donation prior to last year’s election campaign from Chineseborn Australian billionaire Chau Chak Wing, who is now at the centre of a political storm over foreign donations and political influence.

Page 2: EnergyAustralia chief and Reserve Bank of Australia board member Catherine Tanna has boosted relief funding for a growing number of retail customers struggling to pay bills as electricity prices show no sign of easing without government action.

Page 6: The chief economist of the government’s 2014 Financial System Inquiry has called for a sunset clause on the contentious bank levy, which he argues could pave the way for imposing the GST on financial services instead.

Dozens of new city deals that include rail, defence, health and education projects are being considered by the Turnbull government as it seeks a radical shake-up of how billions of dollars in federal infrastructure funds flow to the states.

Page 19: The federal government’s controversial east coast gas export restrictions will be triggered if domestic gas prices rise too high and will hand full control over LNG exports to Resources Minister Matthew Canavan, according to draft rules released this week.

As ANZ’s board visited Beijing and Shanghai this week with a special focus on online commerce, chief executive Shayne Elliott stressed that while the bank was selling down its retail presence in Asia, “we haven’t lost ambition” for institutional growth in the region.

Australian billionaire Gina Rinehart has inked an agreement with China to export live cattle to the economic powerhouse in a deal that could be valued at more than $500 million if the maximum export capacity is reached.

Page 21: Takeover target Vocus Group’s 4600km Australia Singapore Cable faces an increasingly uncertain future even if private equity suitor Kohlberg Kravis Roberts is unsuccessful in its opportunistic $2.2 billion bid for the telco.

  

The West Australian 

Page 1: BHP has weighed into the GST debate, backing WA’s calls for an overhaul of the way the revenue is carved up between the States.

Page 4: WA’s budgetary position is in freefall, with Treasurer Ben Wyatt revealing the Government has lost $2.6 billion in forecast revenue since February.

The economy may be stabilising but that doesn’t mean more money flowing into the State Government’s coffers.

Page 9: Premier Mark McGowan’s call for a ban on full-strength beer at Perth Stadium, including in corporate boxes and at functions, has been backed by former premier Colin Barnett.

Page 11: Shopping service Afterpay, which allows customers to buy now and pay later, is growing rapidly but there are concerns many consumers cannot pay their debts.

Page 12: Prime Minister Malcolm Turnbull is facing internal opposition on new ways to cut Australia’s greenhouse gas emissions as he reveals a report into the future of the nation’s electricity system.

Page 18: Main Roads’ biggest road project, the $1.12 billion Northlink WA, achieved a major milestone yesterday when ground was broken on its central section between Reid Highway and Ellenbrook.

Page 54: The Australian Taxation Office has seized 181 boxes of documents from a sea container in Southern River as part of its battle with interests linked to land developer Allen Caratti.

Austal chief executive David Singleton says a deal with Government shipbuilder ASC to potentially work on the $35 billion frigate program together is not an attempt to move part of the project to WA.

Page 55: The head of WA’s biggest private energy retailer has urged the Federal Government to put a price on carbon as part of moves to reduce Australia’s greenhouse gas emissions.

 

 

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