Liberals to block SA bank levy
The banks have chalked up a significant victory after the South Australian Liberal Party vowed to block the state based bank levy because they believed the tax would ‘‘put a wrecking ball’’ through the battling state economy and kill off jobs and investment. The Fin
Household debt hits all-time high
The average debt of every household has soared to almost twice annual incomes and is rising, according to data that increases pressure on the Reserve Bank and bank regulators to avoid a property market disaster. The Fin
Boral threatens sackings as fight over code heats up
Boral has escalated the fight with the CFMEU, threatening to sack the 110 workers at a concrete operation in NSW unless the union signs an agreement compliant with the new building code. The Aus
WA business left to go solo in GST fight
Business groups across the country have left WA to fight alone for a change to the GST distribution system. The West
LNG workers kicked off site
The scale of bad behaviour by workers at one of Australia’s biggest projects has again been brought into focus, after it was revealed almost 30 contractors have been kicked off the $45 billion Wheatstone liquefied natural gas project site in the last year for violence, drunkenness, theft, harassment and damage. The West
Tax takes froth off craft beer
The nation’s 420 craft brewers say they are generating $740 million in annual economic output and are a substantial force in creating new jobs outside of the major cities, but more investment is being crimped by a punishing excise regime that is chewing up 25 per cent of total revenues. The Fin
ATO signals tax windfall for wealthy
The tax office has potentially opened the floodgates for family investment companies across the country to claim back hundreds of millions of dollars in company tax, after issuing a landmark ruling that signals a wave of future refunds. The Aus
TPG’s splash set to force telcos’ hand on investment plans
TPG Telecom’s decision to spend $1.3 billion to enter the Australian mobile market is expected to prompt the major providers, primarily Telstra, to speed up future investments and activate their capital management to see off the rising competition. The Aus
The Australian Financial Review
Page 1: The banks have chalked up a significant victory after the South Australian Liberal Party vowed to block the state based bank levy because they believed the tax would ‘‘put a wrecking ball’’ through the battling state economy and kill off jobs and investment.
The nation’s 420 craft brewers say they are generating $740 million in annual economic output and are a substantial force in creating new jobs outside of the major cities, but more investment is being crimped by a punishing excise regime that is chewing up 25 per cent of total revenues.
The average debt of every household has soared to almost twice annual incomes and is rising, according to data that increases pressure on the Reserve Bank and bank regulators to avoid a property market disaster.
Page 3: The 25 new chief executives appointed to top 200 companies over the past 18 months received an average 25 per cent pay cut from their predecessors, according to new research by consultants Egan Associates.
Page 6: Boral is threatening to sack the entire workforce at its Sydney concrete subsidiary, after failed negotiations with the Construction, Forestry, Mining and Energy Union put the whole company at risk of being blacklisted for lucrative government work.
Page 8: East coast gas buyers say the government is likely to trigger its new powers to limit LNG exports at the earliest opportunity to help bring an end to a situation that Australian Industry Group describes as ‘‘disastrous’’ for manufacturers.
Page 11: Fairfax Media chief executive Greg Hywood says the 186-year-old publisher is in prime position to be a major player in any industry consolidation as management presses ahead with plans to spin off Domain after the end of takeover talks with TPG Capital and Hellman & Friedman.
Page 13: Beleaguered uranium producer Paladin Energy has appointed administrators after a major customer told the cash-strapped miner it had just one week to pay it $US277 million.
The Australian
Page 1: The tax office has potentially opened the floodgates for family investment companies across the country to claim back hundreds of millions of dollars in company tax, after issuing a landmark ruling that signals a wave of future refunds.
Page 2: Boral has escalated the fight with the CFMEU, threatening to sack the 110 workers at a concrete operation in NSW unless the union signs an agreement compliant with the new building code.
Page 4: Frustrated Nationals MPs have hit out at their Liberal colleagues as tensions simmer over the infighting disrupting the government, with one rural senator declaring he was “disgusted” by what was happening to the senior Coalition party.
Page 5: Martin Lack knows a few things about technology, having spent almost 50 years in the computer industry, first as an installer, then as a technical project manager and finally, before retiring, running the nation’s biggest computer conference company.
Page 7: The Liberal opposition in South Australia will block the Weatherill government’s $370 million bank tax in a move that could trigger an early election.
Page 17: Fairfax Media says it is on track to complete a partial sale of its Domain real estate advertising business by the end of the year after the collapse of takeover talks with rival private equity suitors TPG Capital and Hellman & Friedman.
Page 18: TPG Telecom’s decision to spend $1.3 billion to enter the Australian mobile market is expected to prompt the major providers, primarily Telstra, to speed up future investments and activate their capital management to see off the rising competition.
Page 20: Embattled uranium miner Paladin Energy has finally fallen into administration, with its French offtake partners delivering the coup de grace.
The West Australian
Page 3: Business groups across the country have left WA to fight alone for a change to the GST distribution system.
Page 6: Federal Treasurer Scott Morrison has declared there is a “glimmer of hope” in the Perth property market after house values recorded their biggest increase in a year.
Page 8: Malcolm Turnbull has declared himself Australia’s Prime Minister for “many years to come”, issuing a warning to his critics that he will not be forced out of the top job.
AFL diversity manager Ali Fahour choked back tears yesterday as he said he was ashamed of his coward punch in a suburban football match that left his victim calling for him to be sacked.
Page 12: The scale of bad behaviour by workers at one of Australia’s biggest projects has again been brought into focus, after it was revealed almost 30 contractors have been kicked off the $45 billion Wheatstone liquefied natural gas project site in the last year for violence, drunkenness, theft, harassment and damage.
Kings Park chief Richard Simpson believes the proposed cable car from Elizabeth Quay would threaten the aesthetics, values and fabric of the park.
Page 20: Perth-based uranium miner and one-time market darling Paladin Energy has had to call in administrators after its French offtake partner demanded repayment of a $US277 million ($361 million) loan by next Monday.
Page 38: The manic Australian sharemarket finished another rollercoaster session in the red yesterday as rate-rise fears and the construction slowdown hit domestic-focused stocks.
