WA to build navy patrol boats
Perth-based shipbuilder Austal is poised to win a major defence contract from the Federal Government as it builds its case to secure a bigger multi-billion dollar warship program. The West
WA Premier tips first Roy Hill shipment won’t come until 2016
Western Australian Premier Colin Barnett says Gina Rinehart’s $10 billion Roy Hill project is likely to ship its first ore early next year, well after its September 30 target. The Fin
Rich could pay 27pc super tax
Superannuation contributions would be taxed at 20 percentage points below each individual’s marginal income tax rate under a plan being considered by the Coalition government to make the highly paid pay more tax on their retirement savings, and seem fairer to lower and middle-income earners. The Fin
‘Steel tsar’ hoses down BHP, Rio’s bullish outlook on Chinese production
One of China’s most powerful steel barons has cast doubts on BHP Billiton and Rio Tinto’s bullish forecasts for the country’s steel production, saying there is little chance China will produce more than one billion tonnes of steel within the next five to 10 years. The Aus
Packer raises his Crown stake
Billionaire James Packer has pounced on another 3 per cent of Crown Resorts in a deal executed by UBS. The Aus
RSL aims to secure future in land deal
The Returned & Services League could build a new headquarters on the site of its city home that could also include a hotel, offices and retail outlets under a deal that would have the State Government give it the land to secure its financial future. The West
The Australian Financial Review
Page 1: Superannuation contributions would be taxed at 20 percentage points below each individual’s marginal income tax rate under a plan being considered by the Coalition government to make the highly paid pay more tax on their retirement savings, and seem fairer to lower and middle-income earners.
Page 3: The powerful doctors’ union is fighting government plans to crack down on generous concessions that allow some in the non-profit sector to spend unlimited pre-tax dollars on meals and entertainment.
Page 4: Malcolm Turnbull all but confirmed the 30 per cent company tax rate must fall as part of the federal government’s tax package when he told Coalition MPs it hurt economic growth as much as personal income tax.
Page 6: A global growth plan put forward by Australia at last year’s Group of 20 leaders summit in Brisbane has survived and will be the key economic focus of this weekend’s G20 summit in Turkey.
Page 10: The final commodities boom in ‘‘human history’’ may have just finished, according to prominent economist Saul Eslake.
The International Energy Agency warns in its World Energy Outlook 2015 that the world will have to add more generation capacity ‘‘than is globally installed today, while average utilisation rates ... go down because of the need to integrate variable renewable technologies’’.
Page 17: Software maker Atlassian filed its long-awaited IPO prospectus on Tuesday, revealing it to be a profitable business with annual revenue of $US320 million ($454 million), and the eyes of US and Australian investors are firmly focused on whether it can revive an ailing market for IPOs.
Page 19: Extra checks on tailings dams in wake of disaster BHP Billiton is running extra checks of tailings dams across its copper, coal and iron ore divisions, after a ‘‘catastrophic’’ tailings dam failure at its Brazil iron ore site that caused a deadly mudslide to engulf villages.
Page 31: Shares in explosives and fertiliser maker Incitec Pivot have plunged to their lowest in almost two months after the company warned investors challenging market conditions would persist across resource and agricultural industries.
Western Australian Premier Colin Barnett says Gina Rinehart’s $10 billion Roy Hill project is likely to ship its first ore early next year, well after its September 30 target.
Page 32: The five thin submarine cables that link Australia’s phone and internet connection to the outside world will be joined by a sixth, thanks to an impending deal worth up to $US140 million ($198 million) between Vocus Communications and NextGen Networks.
Page 42: Western Australian syndicator GM Property Group has paid just under $17 million to acquire an industrial complex in Mulgrave in Melbourne’s south east from private investment group Marks Henderson.
The Australian
Page 1: A lifetime cap on every Australian’s retirement nest egg is being examined by Treasury as a way to inject more fairness into superannuation, as Scott Morrison orders officials to avoid a retrospective hit to existing savings.
Page 2: The vocational education sector has exploded as open-market policies and a rorted loans scheme fuel mass enrolments hidden from regulatory scrutiny.
Page 6: Investors appear to be avoiding efforts by regulators to crack down on investor home lending, amid signs interest in the booming residential property market is cooling.
Page 19: One of China’s most powerful steel barons has cast doubts on BHP Billiton and Rio Tinto’s bullish forecasts for the country’s steel production, saying there is little chance China will produce more than one billion tonnes of steel within the next five to 10 years.
Kerry Stokes’s Seven Group has opted to flex its shareholder muscle to rebuke the strategy of its part-owned regional affiliate Prime Media Group.
Page 20: Television affiliate negotiations are reaching the pointy end, with Nine Entertainment playing hardball with WIN Corporation and its regional rival Southern Cross Media Group.
Page 22: Billionaire James Packer has pounced on another 3 per cent of Crown Resorts in a deal executed by UBS.
The West Australian
Page 3: Perth-based shipbuilder Austal is poised to win a major defence contract from the Federal Government as it builds its case to secure a bigger multi-billion dollar warship program.
Page 6: The Federal Government will be forced to negotiate with crossbenchers if it is to salvage a sweeping overhaul of family payments after Labor punched a $3.4 billion hole in the Budget.
Page 7: The Returned & Services League could build a new headquarters on the site of its city home that could also include a hotel, offices and retail outlets under a deal that would have the State Government give it the land to secure its financial future.
Page 21: Western Australians are taking out record mortgages to buy into a property market that seems to be cooling.
Business: A Lake King family who took legal action to force a Chinese-backed company to honour an $8 million contract to buy their farm will pursue more than $1 million in damages through the WA Court of Appeal.
The Insurance Commission of WA has struck a $1.2 billion truce with three rival Bell Group creditors, hiking its chances of a return after backing Alan Bond into the company 27 years ago.
