16/10/2007 - 07:25

Today's 7.30am headlines

16/10/2007 - 07:25

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Howard promises $34b tax cut; PBL defers planned denerger; AGL Energy slashes 2008 earnings outlook; Cape to sweeten $230m bid; Zinifex and Umicore to sell 70pct in Nyrstar.

Today's 7.30am headlines

The Howard Government has promised to cut personal income tax by $34 billion over the next three years in a dramatic bid to outmanoeuvre Labor and build political momentum on the first full day of the federal election campaign. The Fin Review

PBL had to defer its planned demerger yesterday because of uncertainty over tax law amendments announced by Assistant Treasurer Peter Dutton late on Friday. The West

AGL Energy has slashed its 2008 earnings outlook, less than three months after issuing the guidance. The Canberra Times

London-listed Cape is poised to sweeten its hostile $230 million takeover offer for PCH Group in a bid to win the approval of the Perth scaffolding company's board. The West

Zinifex and Umicore have agreed to sell 70 per cent of their holding in smelting business Nyrstar through an initial public offering valued at up to $3.6 billion. The Hobart Mercury

 

THE WEST AUSTRALIAN
Page 1: Prime Minister John Howard and Treasurer Peter Costello have announced a $34-billion plan to cut taxes for every worker, turning the 2007 poll into an election on tax.

Page 5: A poll in Brisbane's morning daily newspaper of four key marginal Queensland electorates rained on Labor leader Kevin Rudd's parade yesterday.

Welfare groups have contradicted John Howard's claim that tax cuts, rather than policies addressing housing affordability and rising petrol prices, would better serve low income earners.

Finance: PBL had to defer its planned demerger yesterday because of uncertainty over tax law amendments announced by Assistant Treasurer Peter Dutton late on Friday.

Jailed mining company promoter Brian Milwood Smith hopes to be free as early next week as he mounts an appeal against his conviction and jailing for breaches of shares disclosure and director duties laws.

After repeated, embarrassing delays, Airbus finally delivered its first A380 superjumbo jet yesterday.

London-listed Cape is poised to sweeten its hostile $230 million takeover offer for PCH Group in a bid to win the approval of the Perth scaffolding company's board.

Zinifex expects to receive betweeen $1.2b and $2.2b from the sale of its smelters by the end of the month, depending on the success of the Nyrstar public offering in Belgium.

THE AUSTRALIAN FINANCIAL REVIEW
Page1: The Howard Government has promised to cut personal income tax by $34 billion over the next three years in a dramatic bid to outmanoeuvre Labor and build political momentum on the first full day of the federal election campaign.

The federal government's $300 million taskforce into offshore tax evasion may lay charges of criminal tax evasion against Graham Kelly, a Sydney scientist and founder of listed biotech Novogen.


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