15/06/2017 - 06:48

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15/06/2017 - 06:48

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Energy target raises WA power price fear

WA MPs are calling for Federal Energy Minister Josh Frydenberg to explain how the State’s electricity network would be affected by a new clean energy target aimed at reducing Australia’s carbon emissions. The West

 

Murdoch and Gordon join forces to snatch flailing Network Ten

Lachlan Murdoch and Bruce Gordon are forming a joint venture to restructure Network Ten, which could result in the pair taking the broadcaster private if Communications Minister Mitch Fifield can pressure Labor, the Greens or the crossbench to pass changes to media ownership regulation. The Fin

 

Kimberley Diamonds calls time

Kimberley Diamonds boss Alex Alexander has called in administrators — weeks after the collapse of the company’s sole remaining mine in Botswana. The West

 

Clean coal or bust for PM’s plan

The Turnbull government will almost certainly settle on a clean energy target, but one that will classify so-called clean coal as a low-emissions energy source in a bid to win the support of a bitterly divided party room. The Fin

 

Anti-tax crusaders fight low-value GST

Plans to impose an online shopping tax on overseas goods have become a magnet for the global network of firebrand libertarian and anti-tax activists, including a confidant of former president Ronald Reagan who aided anti-Soviet guerilla armies and a corruption fighter from war-torn Ukraine. The Aus

 

Vocus maps growth amid $3.3b KKR bid

Vocus Group CEO Geoff Horth has apologised to shareholders in the embattled telecoms group for a string of missteps, and signalled a $3.3 billion bid from Kohlberg Kravis Roberts & Co described by shareholders as ‘‘opportunistic’’ will be rejected. The Fin

  

Law firm reaps millions in Manus settlement

Embattled law firm Slater & Gordon will take the lion’s share of a $20 million costs order after agreeing to settle a landmark lawsuit with the federal government and its Manus Island contractors for $70m — a fraction of the sum initially sought by the firm. The Aus

 

External pick firms for ASIC chief

The federal government is close to finalising a new head of the corporate regulator as chairman Greg Medcraft enters his final six months in the job, with expectations growing that an external appointment could be made within weeks. The Aus

 

Home renovations on the rise

A slump in WA’s renovation market is expected to end this year, with the value of renovation work predicted to jump by $60 million by 2020. The West

 

The Australian Financial Review 

Page 1: The Turnbull government will almost certainly settle on a clean energy target, but one that will classify so-called clean coal as a low-emissions energy source in a bid to win the support of a bitterly divided party room.

Lachlan Murdoch and Bruce Gordon are forming a joint venture to restructure Network Ten, which could result in the pair taking the broadcaster private if Communications Minister Mitch Fifield can pressure Labor, the Greens or the crossbench to pass changes to media ownership regulation.

Activist investor Tribeca has named former Amcor boss Ken MacKenzie as the best internal candidate for the chairmanship of BHP Billiton, but declared it would prefer an external candidate with extensive resources experience.

Page 3: Pressure is growing on Labor over its refusal to fully support the proposed 0.5 per cent increase in the Medicare levy to fund the National Disability Insurance Scheme, with the Turnbull government indicating it would legislate the change sooner rather than later.

Page 7: Australia is at risk of more blackouts next summer despite new initiatives from energy regulators and governments, according to forecasts from the Australian Energy Market Operator.

Page 11: The chief executive of Tasmania’s second biggest lender, MyState Bank, says more investors are offering their homes on Airbnb rather than to longterm renters and that has helped keep the Hobart housing market robust.

International accounting rules designed to stop auditors getting too close to their clients and prevent the next corporate collapse are instead cutting the quality of company audits while increasing costs.

Page 15: Vocus Group CEO Geoff Horth has apologised to shareholders in the embattled telecoms group for a string of missteps, and signalled a $3.3 billion bid from Kohlberg Kravis Roberts & Co described by shareholders as ‘‘opportunistic’’ will be rejected.

The Korean consortium that intends spending almost $1 billion installing new technology at the Whyalla steelworks if its bid for Arrium is successful, is convinced it can successfully replicate the modern steelmaking process used at POSCO’s large Pohang steelworks in South Korea.

Page 17: Quintis chairman Dalton Gooding and former managing director Frank Wilson are current and former members respectively of the board of Santalis, the pharmaceutical arm at the centre of a disclosure breakdown within Quintis.

Page 19: Commonwealth Bank subsidiary Bankwest is slashing some lending rates by 31 basis points, raising others by 34 basis points and increasing the size of deposits for interestonly borrowers, as it seeks to encourage property buyers to choose principal and interest loans.

  

The Australian

Page 1: The Australian Workers Union has taken a decade to correct an error in an annual return lodged with the Australian Electoral Commission, acting only after the government accused Bill Shorten of a potential conflict of interest over a $27,500 payment.

The Productivity Commission has condemned Julia Gillard’s rushed rollout of the National Disability Insurance Scheme as “risking the financial sustainability’’ of the program and warned that imprecise governing legislation could have its future decided by the courts.

Page 3: Plans to impose an online shopping tax on overseas goods have become a magnet for the global network of firebrand libertarian and anti-tax activists, including a confidant of former president Ronald Reagan who aided anti-Soviet guerilla armies and a corruption fighter from war-torn Ukraine.

Page 4: Ten Network shareholders Lachlan Murdoch and Bruce Gordon are working on a rescue package for the stricken broadcaster after it plunged into administration.

Embattled law firm Slater & Gordon will take the lion’s share of a $20 million costs order after agreeing to settle a landmark lawsuit with the federal government and its Manus Island contractors for $70m — a fraction of the sum initially sought by the firm.

Page 6: The federal Coalition has splintered over calls for taxpayer assistance to build more coal-fired power stations as Malcolm Turnbull tries to smooth over a policy brawl about the best way to drive down household energy costs.

Page 17: The federal government is close to finalising a new head of the corporate regulator as chairman Greg Medcraft enters his final six months in the job, with expectations growing that an external appointment could be made within weeks.

Page 19: Clive Palmer’s fight with Chinese giant Citic is shaping up as a multi-billion-dollar game of chicken, with the former MP and one-time billionaire dismissing the prospect of Citic ever closing its loss-making Sino Iron mine.

Takeover target Vocus Group’s boss Geoff Horth has flagged a potential partnership with Vodafone Hutchison Australia and the sale of its data centres as part of the telco’s strategy to increase market share.

Page 20: BHP Billiton is bracing for activist fund Elliott Management to push for board representation after the group called for a reconstitution and refresh of the BHP board.

Commonwealth Bank subsidiary Bankwest is the latest lender to push through large rate increases for interest-only borrowers, in a bid to push customers on to less precarious principal-and-interest loans amid regulatory efforts to derisk the financial system.

 

The West Australian

Page 3: WA MPs are calling for Federal Energy Minister Josh Frydenberg to explain how the State’s electricity network would be affected by a new clean energy target aimed at reducing Australia’s carbon emissions.

Page 11: Lord Mayor Lisa Scaffidi was at pains to point out at a penalty hearing yesterday that she still accepts responsibility for the 45 occasions she did not disclose gifts, travel and hospitality — failures that have put her public life in peril.

The McGowan Government has announced stopgap plans to expand the WA-run version of the National Disability Insurance Scheme as negotiations with Canberra drag on.

Page 12: Immigration Minister Peter Dutton says the Federal Government’s decision to settle a maltreatment lawsuit brought by asylum seekers for $70 million is not an admission of liability, saying the result was a “prudent outcome” for taxpayers.

Page 13: Dozens of workers at Channel 10 in Perth are facing an uncertain future after the troubled free-to-air broadcaster was placed into voluntary administration.

Page 14: A slump in WA’s renovation market is expected to end this year, with the value of renovation work predicted to jump by $60 million by 2020.

Page 16: Another Han’s Cafe is under fire, with the Rockingham franchise alleged to have underpaid 22 employees a total of $28,000 in a year.

Page 52: Kimberley Diamonds boss Alex Alexander has called in administrators — weeks after the collapse of the company’s sole remaining mine in Botswana.

A trimmed down Clive Palmer was back in a Perth court yesterday for the latest instalment in his prolonged legal fight with China’s CITIC Pacific Mining.

Page 53: WA will largely escape the wrath of Telstra’s job-cutting program, with 22 local positions expected to go as part of the telco’s nationwide cull of 1400 staff.

 

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