14/06/2017 - 06:45

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14/06/2017 - 06:45

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Coalition in revolt over climate fix

Malcolm Turnbull has been hit with a stronger than anticipated backlash over plans to introduce a clean energy target in a battle that is fast becoming a test of his leadership, Liberal sources say. The Fin

 

Ten board mulls putting network into administrator’s hands

Network Ten’s board of directors is likely to put the struggling free-to-air broadcaster into voluntary administration after losing the support of its three billionaire shareholders – Lachlan Murdoch, Bruce Gordon and James Packer, for a new $250 million loan. The Fin

 

Property Bank ponders Perth

Property Bank Australia — which sold a $200 million WA property portfolio to GE Capital in 2006 — is cashing in $130 million of its east coast property chips and scouting Perth for its latest potential countercyclical play.  The West

 

Axe hovers over incentives for WA’s first-homebuyers

First-homebuyer incentives are under threat with the State Government refusing to play down industry concerns that grants and concessions could be cut in September’s Budget. The West

 

MacKenzie backed to head BHP

Big investors in BHP support Ken MacKenzie being named the company’s new chairman because they see him as a strong candidate and his rivals being weakened by their association to the company’s much-criticised $US20 billion investment in US shale oil and gas assets.  The Fin

 

Gonski hit list: the elite schools set to lose

More than 100 prestigious private schools will receive less federal funding as part of Malcolm Turnbull’s education reforms, including the Sydney institutions of Cranbrook, Ascham, Kambala and the Kincoppal-Rose Bay School in the Prime Minister’s electorate. The Aus

 

Shock as Libs director quits

The Liberal Party’s State director Andrew Cox has quit, leaving the WA division without its most senior office bearer as it reels from March’s devastating State election loss. The West

 

Coles told to produce records

The Fair Work Commission has found it “reasonably arguable” that Coles ought reasonably to have known a controversial pay deal could not satisfy the Fair Work Act’s better off overall test when the supermarket giant applied for its approval. The Aus

 

Minister hits back at LNG ‘threats’

Resources Minister Matt Canavan has declared Australia will not become the world’s biggest LNG exporter if domestic prices and supply are compromised, hitting back at a gas industry attack on his implementation of new export control powers. The Aus

  

The Australian Financial Review

Page 1: Malcolm Turnbull has been hit with a stronger than anticipated backlash over plans to introduce a clean energy target in a battle that is fast becoming a test of his leadership, Liberal sources say.

Labor is reeling after an adviser resigned amid revelations that the party bankrolled its 2016 federal election campaign with the help of up to $140,000 in donations from gold dealers linked to a multimillion-dollar tax scam.

Network Ten’s board of directors is likely to put the struggling free-to-air broadcaster into voluntary administration after losing the support of its three billionaire shareholders – Lachlan Murdoch, Bruce Gordon and James Packer, for a new $250 million loan.

Page 3: The weak outlook for retail spending has prompted renewed calls for personal tax cuts to offset rising household debt, anaemic wages growth and higher living costs.

Page 7: An earlier than expected court date for the Crown Resorts staff detained in China has raised expectations that some employees could be freed later this month, after 19 people related to the casino operator were charged with ‘‘promoting gambling’’.

Page 15: CSL shares jumped 1.5 per cent to a record $137.18 yesterday after it revealed it had paid $US352 million ($470 million) for a stake in a Chinese biotech company, giving it better access to the world’s fastest-growing healthcare market.

Big investors in BHP support Ken MacKenzie being named the company’s new chairman because they see him as a strong candidate and his rivals being weakened by their association to the company’s much-criticised $US20 billion investment in US shale oil and gas assets.

 

The Australian

Page 1: Angry Coalition MPs have warned Malcolm Turnbull against embracing a clean energy target that hits consumers with higher prices, in a revolt against a sweeping plan to shift the economy to wind and solar power.

More than 100 prestigious private schools will receive less federal funding as part of Malcolm Turnbull’s education reforms, including the Sydney institutions of Cranbrook, Ascham, Kambala and the Kincoppal-Rose Bay School in the Prime Minister’s electorate.

Page 2: The Fair Work Commission has found it “reasonably arguable” that Coles ought reasonably to have known a controversial pay deal could not satisfy the Fair Work Act’s better off overall test when the supermarket giant applied for its approval.

Page 4: Terminally ill patients with a prescription to use marijuana should be able to obtain the drug faster after the Turnbull government’s attempt to halt importation of cannabis products was blocked in the Senate yesterday.

Page 5: The government has accused Bill Shorten of a potential conflict of interest as a former director of AustralianSuper, claiming the fund made a donation to the Australian Workers Union when he was also its national secretary.

Page 10: The Defence Department has spent millions of dollars monitoring the news and paying for media training, including $77,000 this year alone on teaching top brass about using social media.

Page 19: Resources Minister Matt Canavan has declared Australia will not become the world’s biggest LNG exporter if domestic prices and supply are compromised, hitting back at a gas industry attack on his implementation of new export control powers.

Page 20: AWE and its private equity backers Kohlberg Kravis Roberts are believed to have left the contest to buy Origin Energy’s Lattice Energy.

Page 21: Mirvac Group will split the sale of two premium Melbourne towers between separate buyers, with Singapore’s ARA Asset Management favoured to pick up a halfshare in the larger building.

Chris Ellison’s Mineral Resources could emerge as one of the biggest lithium producers in the months ahead as the contractor turned iron ore miner shapes as a major supplier to the booming electric vehicle and battery industries.

 

The West Australian

Page 1: Outer-suburban Perth drivers spend as much time travelling to and from work each year as they do on annual holiday.

Page 6: Drinking fountains have been shut off across one of Perth’s most popular family and tourist spots after the discovery of dangerous lead contamination.

Page 7: The Liberal Party’s State director Andrew Cox has quit, leaving the WA division without its most senior office bearer as it reels from March’s devastating State election loss.

Page 9: Armadale has been named as WA’s “bludger” capital, making a Federal Government list of the nation’s top 30 welfare non-compliance hotspots.

Page 13: Mandurah residents have lost track of almost $31 million of their retirement nest eggs, potentially depriving themselves of the chance to get ahead financially.

Page 16: First-homebuyer incentives are under threat with the State Government refusing to play down industry concerns that grants and concessions could be cut in September’s Budget.

Page 22: Premier Mark McGowan has delivered a blunt warning to his Cabinet — stay clear of Brian Burke.

Page 31: A Macau-based gambling expert has warned that senior Crown employees charged in China with gambling offences could still face potentially long jail terms for money laundering.

Paladin Energy was last night locked in a battle for survival after a French customer called in a $US277 million ($367 million) loan in a move which threatens to derail negotiations with other lenders and send the one-time market darling to the wall.

Page 32: Shell has announced its giant Prelude floating liquefied natural gas project is just weeks away from reaching the offshore Browse Basin, about 475km north of Broome.

Page 33: Former car dealership boss Bronte Howson has not wasted any time in building a portfolio of directorships to support his retirement, emerging on the boards of two aspiring Perth listings rattling the tin.

Page 78: The credibility of estimates from US giant Chevron, Australia’s biggest holder of gas reserves, of the tax it will pay from its LNG production has been undermined by questions put to the company by the Senate committee on corporate tax avoidance.

Page 79: Property Bank Australia — which sold a $200 million WA property portfolio to GE Capital in 2006 — is cashing in $130 million of its east coast property chips and scouting Perth for its latest potential countercyclical play.

Developer Edge Visionary Living is celebrating its 65 per cent off-the-plan sales milestone on its $70 million seven-level Subiaco Botanical apartment development, awarding a $25 million lump sum building contract to WA builder Jaxon.

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