Morning headlines

Barnett questions Palmer’s behaviour

Western Australian Premier Colin Barnett has accused Clive Palmer of using parliaments for commercial benefit after a Palmer United Party MP in Queensland tabled a confidential arbitration ruling related to the magnate’s WA mining interests. The Aus

Assets worth $57b tipped for sale by governments

More than $57 billion in federal and state-owned assets are expected to be put to the market over the next few years as governments embrace privatisation to pay for infrastructure. The Fin

iiNet wades in to piracy fray

Internet provider iiNet has defended users’ right to access pirate websites, calling on the Hollywood studios and Federal Government to address why consumers were downloading in record numbers, rather than how they were doing it. The West

Abbott stands firm on US tax evasion

Tony Abbott has given the US notice that he is serious about leading global efforts through the Group of 20 to stop tax evasion through profit shifting by multinationals, which would include some of America’s biggest companies. The Fin

Creasy waives Jundee rights — for $10m

Mark Creasy’s year is getting better, with the millionaire prospector squeezing $10 million of shares out of Northern Star Resources in return for waiving a pre-emptive right to buy the Jundee gold mine north of Wiluna. The West

Hockey’s fresh election threat

Joe Hockey has signalled the Abbott Government could stand or fall on the Budget as internal divisions over key policies, including paid parental leave, threaten to split the coalition. The West

Australia Post to split in two

Australia Post has defended the introduction of a user-pays system for business mail, as part of a dramatic restructuring and cost cutting program which begins with the axing of 900 management and administrative jobs. The Fin

Push to expand Comcare

A new push to reinvigorate the federal workers compensation scheme, Comcare, has started to attract serious attention from major Australian companies in a move that could save corporations millions of dollars in compliance costs.

The Australian Financial Review

Page 1: NSW Premier Mike Baird is poised to hand full management control of most of the state’s $44 billion power network to the private sector even though he has opted for only a partial sale.

The European Central Bank’s decision to push interest rates into negative territory is allowing Australian banks to borrow more cheaply than at any time since the financial crisis and is likely to increase their profits or cut home owners’ mortgage costs.

Page 3: Julia Gillard’s ex-boyfriend has made explosive new claims that he was offered $200,000 to implicate her in a decades-old slush fund scandal.

Page 5: More than $57 billion in federal and state-owned assets are expected to be put to the market over the next few years as governments embrace privatisation to pay for infrastructure.

Page 7: Legislation to enact Tony Abbott’s parental leave plan has been delayed because Treasury is trying to fix a “cascading” problem that threatens to multiply the tax bill of companies and investors.

Page 8: Tony Abbott has given the US notice that he is serious about leading global efforts through the Group of 20 to stop tax evasion through profit shifting by multinationals, which would include some of America’s biggest companies.

Australia Post has defended the introduction of a user-pays system for business mail, as part of a dramatic restructuring and cost cutting program which begins with the axing of 900 management and administrative jobs.

Page 15: Investors fear an “onslaught” of profit downgrades from the retail sector as post-budget blues combined with unseasonal warm weather crimp spending on clothing, footwear and leisure goods.

Page 17: Nexus Energy shares lost more than one-third of their remaining value on Tuesday as the likelihood grew that the contentious $26.6 million takeover by Seven Group Holdings would fail, forcing the oil and gas junior into administration and potentially handing control of its key asset to Royal Dutch Shell.

Page 18: Seven Network has cut jobs in its news and public affairs team, the second TV network in as many months to make people redundant.

Page 21: Large US-listed shale player Magnum Hunter Resources has launched a rival takeover offer for Cooper Basin junior Ambassador Oil and Gas, outbidding Drillsearch Energy by 20 per cent.

The Australian

Page 2: Western Australian Premier Colin Barnett has accused Clive Palmer of using parliaments for commercial benefit after a Palmer United Party MP in Queensland tabled a confidential arbitration ruling related to the magnate’s WA mining interests.

Page 3: The Immigration Department has cast doubt on the viability of Labor’s overhauled business migration program, as legal experts branded the two-year-old scheme a “dismal failure” that prompted an “enormous decline” in new visas.

Page 4: Joe Hockey has delivered a strident endorsement of Tony Abbott’s paid parental leave scheme declaring it a “massive win’’ for farmers and regional Australia as he moved to directly confront a rebellion by Nationals senators.

Page 5: Fairfax Media chief executive Greg Hywood is under increasing pressure over the company’s performance amid internal tension over strategy.

Page 17: A new push to reinvigorate the federal workers compensation scheme, Comcare, has started to attract serious attention from major Australian companies in a move that could save corporations millions of dollars in compliance costs.

At the age of 76, Alan Bond has signalled his intention to try to resuscitate his business career in Australia by appointing two close associates — including the former chairman of his failed African diamond-mining venture — to the board of his fledgling investment company.

Profit downgrades by Pacific Brands and The Reject Shop yesterday have triggered fears of a late “confession season” rush, as retailers get hit by post-budget consumer blues.

Page 18: Hiring in mining and construction is expected to slightly improve in the third quarter but the sectors are closely watching the Abbott government’s ability to push policies through the Senate before any significant moves are made.

Page 19 One of the most experienced property boardroom veterans and the former boss of Centro, Glenn Rufrano has backed calls for an overhaul of Westfield Retail Trust should its parent company’s $70 billion restructure proposal fail to secure enough approval to pass.

Page 25: Universities have for years thrived in an oligopoly and reforms to higher education will throw them into a robust market with incentives to compete on price for the first time, the head of the federal Education Department told Senate estimates last week.

The West Australian

Page 4: Kim Beazley is to have his term as Australian Ambassador to the United States extended by a year.

Page 6: Premier Colin Barnett wants to allow small, unincorporated businesses to have the same employment conditions as bigger firms, yesterday flagging cuts to penalty rates they face.

Page 9: The State Government will not wait for environmental approval before it calls for bids from private contractors to carry out its proposed three-year shark cull.

Page 10: Joe Hockey has signalled the Abbott Government could stand or fall on the Budget as internal divisions over key policies, including paid parental leave, threaten to split the coalition.

Page 11: The City of Canning council could be dismissed after a report found it failed to provide good government to its ratepayers.

Page 14: The State Government is urging the owners of the fire-ravaged Guildford Hotel to get on with developing the site after it was announced yesterday that the building would be leased to Melbourne-based The Publican Group.

Page 16: Work has started to dig up and repair a network of leaking pipes installed as part of the State Government’s $311 million Ord irrigation scheme expansion.

Business: Perth businessman Craig Bond has followed in the footsteps of his father Alan and has become a full-blown bankrupt after failing in a year-long survival campaign.

Mark Creasy’s year is getting better, with the millionaire prospector squeezing $10 million of shares out of Northern Star Resources in return for waiving a pre-emptive right to buy the Jundee gold mine north of Wiluna.

Demand for natural gas is set to nearly double within five years in China but the emerging market giant will meet half that with domestic supplies, the International Energy Agency says.

Internet provider iiNet has defended users’ right to access pirate websites, calling on the Hollywood studios and Federal Government to address why consumers were downloading in record numbers, rather than how they were doing it.