03/07/2017 - 06:38

Morning Headlines

03/07/2017 - 06:38

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Rio backs GST fight

Mining behemoth Rio Tinto has added its clout to growing calls for the Federal Government to overhaul the broken GST distribution system, saying the current process rewards lazy States at WA’s expense. The West

 

PM’s dare to dissident Liberal MPs

Bitter divisions within the Liberal Party have hardened with Prime Minister Malcolm Turnbull threatening to quit Parliament if he is dumped – potentially triggering a byelection that could destroy the government regardless of who might take over the leadership. The Fin

 

CFMEU risks bankruptcy from lawsuit

The Construction, Forestry, Mining and Energy Union and its Victorian boss John Setka are facing a $150 million lawsuit that could bankrupt the union over allegations of unlawful coercion and threats that delayed a Melbourne construction project. The Fin

 

Dumped Fairfax ponders future

The auction for Fairfax Media has ended without an actionable bid after private equity firm TPG withdrew from the process over the weekend and Hellman & Friedman failed to lodge a bid. The Aus

 

State faces $6m rent bill for empty offices

Taxpayers are set to fork out more than $6 million to rent five empty floors of a CBD office building for a year under hotly contested plans to move 800 public servants to Joondalup. The West

 

Energy, price cuts threaten manufacturers

Soaring energy bills and pricing pressure from supermarket chains could force food and grocery manufacturers to close plants and shift offshore, says the new chief executive of the sector’s peak body. The Fin

 

Coal plants ‘cheaper’ than renewables bill

The construction of a new high efficiency, low emissions coal fired power station, being considered by the Turnbull government, would cost $2.2 billion. The Aus

 

Those paying top tax to double under ALP

The proportion of Australians who would have to pay Labor’s higher top personal income tax rate of 49.5 per cent would double by 2020-21, according to forecasts prepared by Deloitte Access Economics.The Aus

 

New venue threat to Diggers

The organisers of the Diggers & Dealers Mining Forum are at loggerheads with the McGowan Government after it declined to confirm the conference would have a venue for its 2018 showing. The West

 

The Australian Financial Review

Page 1: Bitter divisions within the Liberal Party have hardened with Prime Minister Malcolm Turnbull threatening to quit Parliament if he is dumped – potentially triggering a byelection that could destroy the government regardless of who might take over the leadership.

Fairfax Media will continue its plan to spin off real estate classifieds and services business Domain, ending the private equity auction for the publisher after TPG Capital formally walked away from bidding and Hellman & Friedman failed to lodge a bid.

Page 3: The Construction, Forestry, Mining and Energy Union and its Victorian boss John Setka are facing a $150 million lawsuit that could bankrupt the union over allegations of unlawful coercion and threats that delayed a Melbourne construction project.

Page 6: States have hit out at the current GST system, saying it encourages them to raise taxes to try to balance their budgets rather than undertake serious economic reform.

Page 7: First-home buyers, particularly in Melbourne, took advantage of stamp duty exemptions to thaw some wintry conditions in weekend auction sales, results analysis shows.

Page 13: Soaring energy bills and pricing pressure from supermarket chains could force food and grocery manufacturers to close plants and shift offshore, says the new chief executive of the sector’s peak body.

Page 15: Spotless has had initial talks with hostile suitor Downer EDI over potential changes to its board, but continues to insist remaining investors should reject the $1.2 billion takeover bid.

 

The Australian

Page 1: The construction of a new high efficiency, low emissions coal fired power station, being considered by the Turnbull government, would cost $2.2 billion.

Labor will formally abandon almost 40 years of explicit ideological support for Israel with a resolution expected to be passed at this month’s NSW state conference, a move that would ultimately bind Bill Shorten to an unconditional recognition of a Palestinian state should he become prime minister.

Page 4: The proportion of Australians who would have to pay Labor’s higher top personal income tax rate of 49.5 per cent would double by 2020-21, according to forecasts prepared by Deloitte Access Economics.

Page 6: Independent senator Jacqui Lambie has hit back at critics accusing her of robbing Tasmanian students of the chance for the “full Gonski’’ after she secured a $20 million sweetheart package for her home state as part of the school funding shake-up.

Small-business owner Becky Hutson is considering hiring a weekend worker at her Brisbane shop following the Fair Work Commission’s cuts to penalty rates.

Page 17: The auction for Fairfax Media has ended without an actionable bid after private equity firm TPG withdrew from the process over the weekend and Hellman & Friedman failed to lodge a bid.

Page 18: Top Goldman Sachs economists have added their voices to the chorus expecting higher interest rates in Australia and the US, but question whether “sovereign risk” is a concern about Australia in the wake of South Australia’s rogue bank levy.

Page 19: Australian Competition & Consumer Commission boss Rod Sims is about to embark on a forensic fact-finding mission on the overall state of the telecommunication sector, with the National Broadband Network and 5G technology the major topics of discussion.

 

The West Australian

Page 1: Mining behemoth Rio Tinto has added its clout to growing calls for the Federal Government to overhaul the broken GST distribution system, saying the current process rewards lazy States at WA’s expense.

Page 3: WA police are drawing Tasers, batons, handguns or pepper spray more often than ever before in what the police union argues is proof they are facing increasingly violent offenders.

Page 4: Rain at the weekend marked the end of a concerning dry spell for parts of the Wheatbelt, with some farmers declaring they are “back in the game”.

Page 6: Australian soldiers will be protected against chemical weapons attacks with the Federal Government to spend $300 million on the latest high-tech equipment.

Page 8: Taxpayers are set to fork out more than $6 million to rent five empty floors of a CBD office building for a year under hotly contested plans to move 800 public servants to Joondalup.

Premier Mark McGowan’s much-touted tourism strategy has been thrown into turmoil amid an industry backlash over changes to State Government agency Tourism WA.

Page 9: Stirling Highway may be all that separates the local governments of Peppermint Grove and Cottesloe but by crossing the highway, residents can save almost $2000 a year on their council rates.

Page 12: Online accommodation behemoth Airbnb has reshaped WA’s tourism landscape, hosting more than 170,000 visitors for almost 300,000 nights last year.

Page 55: The organisers of the Diggers & Dealers Mining Forum are at loggerheads with the McGowan Government after it declined to confirm the conference would have a venue for its 2018 showing.

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