Buckeridge empire breaking up
Buckeridge empire breaking up
The carve-up of late construction tycoon Len Buckeridge’s property empire has begun, with a major Asian group swooping on Perth’s newest five-star hotel, The Westin Perth, for about $200 million. The Aus
Labor launches $1.8b plan to school kindies
The nation’s three and four-year-olds will be guaranteed 600 hours of education a year under a $1.8 billion plan to be rolled out today by Labor leader Bill Shorten. The Fin
Asbestos in Chinese rail imports
Iron ore miner Fortescue Metals Group has imported about 3500 Chinese-made rail carriages containing asbestos in one of the largest breaches of a national ban on asbestos imports since it was introduced 15 years ago. The Aus
Union threat to Labor over trade deals
A leading trade union affiliated to the Labor Party has threatened to withdraw all financial and other support amid widespread anger within the labour movement against the party’s decision to support the Trans-Pacific Partnership. The West
Morrison forced to compromise on GST
The Morrison government could be forced to compromise on its new deal for distributing GST revenue after Labor, the Greens and key Senate crossbenchers indicated they would amend the legislation to support a guarantee that no state would be worse off. The Fin
ASIC probes super fund breach
The corporate regulator is investigating industry superannuation fund Rest after it admitted to breaking the law by failing to give members reasons why it refused death payouts. The Aus
Wind farms to sell for $34m
Power provider Synergy is offloading its Albany wind farms for $34 million as part of the deal to spin off the utility’s renewable energy assets into a private investment vehicle. The West
Lew renews call for Myer share register
Billionaire retailer Solomon Lew is laying the groundwork for another pitched battle with the board of Myer at the department store’s annual general meeting in November, after once again requesting a fresh copy of the struggling retailer’s share register. The West
The Australian Financial Review
Page 1: A leading trade union affiliated to the Labor Party has threatened to withdraw all financial and other support amid widespread anger within the labour movement against the party’s decision to support the Trans-Pacific Partnership.
Plans by the federal government to slug Australian expatriates hundreds of thousands of dollars in capital gains tax if they sell the family home while living overseas could be in jeopardy, amid growing concern from Labor, Senate crossbenchers and tax experts.
Page 4: The Morrison government could be forced to compromise on its new deal for distributing GST revenue after Labor, the Greens and key Senate crossbenchers indicated they would amend the legislation to support a guarantee that no state would be worse off.
Page 5: The nation’s three and four-year-olds will be guaranteed 600 hours of education a year under a $1.8 billion plan to be rolled out today by Labor leader Bill Shorten.
Page 6: A beefed-up lawsuit against $50 billion superannuation fund REST alleges the fund’s trustees breached their duties by failing to factor climate change into investment decisions.
Page 13: Australian exporters remain optimistic about business conditions despite the turmoil wrought by Donald Trump’s trade wars, but are increasingly looking at new markets beyond English-speaking countries.
Page 17: The ‘‘unquestionably strong’’ status of the major banks is under further threat from credit rating agencies after Fitch Ratings said the fallout of the Hayne royal commission would increase funding costs, result in fines, raise compliance costs and increase the risk of class actions.
Page 19: Coles’ margins will fall after its demerger from Wesfarmers, and margins in food, liquor and convenience/fuel will undershoot those at Woolworths, giving the retailer’s new management team plenty of scope for improvement.
Page 32: Woolworths’ biggest landlord, SCA Property Group, is taking the risk of buying $573 million worth of poorer-performing shopping centres from listed landlord Vicinity in a bet it can turn them around within two years when a rental guarantee drops off.
The Australian
Page 2: Iron ore miner Fortescue Metals Group has imported about 3500 Chinese-made rail carriages containing asbestos in one of the largest breaches of a national ban on asbestos imports since it was introduced 15 years ago.
Page 4: State and territory treasurers have unanimously agreed to axe the GST on feminine hygiene products from January 1 next year.
Page 17: The corporate regulator is investigating industry superannuation fund Rest after it admitted to breaking the law by failing to give members reasons why it refused death payouts.
A $76 billion US pension fund has lodged a third Australian class action lawsuit against BHP over its 2015 Samarco dam disaster in Brazil that killed 19 people, destroyed a nearby village and caused widespread environmental damage.
Page 19: Billionaire retailer Solomon Lew is laying the groundwork for another pitched battle with the board of Myer at the department store’s annual general meeting in November, after once again requesting a fresh copy of the struggling retailer’s share register.
Traffic on the National Broadband Network has started to tick up as NBN Co gets closer to taking its discounted wholesale prices off the table, saying it is working with telcos to ensure there is no slowdown in service during the busiest periods.
Page 21: Evidence given at the royal commission by Financial Services Council chief executive Sally Loane has had to be corrected by the independent watchdog tasked with policing the life insurance sector’s adherence to its code of compliance.
Page 23: The carve-up of late construction tycoon Len Buckeridge’s property empire has begun, with a major Asian group swooping on Perth’s newest five-star hotel, The Westin Perth, for about $200 million.
The West Australian
Page 1: Taxpayers are being asked to fork out tens of thousands of dollars to send public sector workers to hear their colleagues speak at a summit on digital media organised by a private, profit-making company.
Page 6: WA Child Protection Minister Simone McGurk has raised concerns with Canberra about a lack of support for women experiencing violence, calling on the Federal Government to “match sentiment with resources”.
Page 16: WA Treasury is considering basing one of its officials in China in a bid to improve the State’s price forecasting for iron ore, one of WA’s most important revenue sources.
Business: Announcing an increased annual profit of $12.2 million yesterday, P&N chief executive Andrew Hadley said member-owned banks “are all about working in our members’ best interests, and that is something we believe will be a differentiator in the next 12 months”.
Tribune Resources has for the first time publicly admitted to errors in shareholding notices filed for long-term managing director Anton Billis.
Royal Nickel Corporation president Mark Selby says the Canadian company is eyeing a listing in Australia after recovering a cache of visually stunning gold specimens from its Beta Hunt mine near Kambalda that have attracted global attention.
Power provider Synergy is offloading its Albany wind farms for $34 million as part of the deal to spin off the utility’s renewable energy assets into a private investment vehicle.
Federal Resources Minister Matt Canavan has warned Australia’s resources sector faces new and growing competitive threats from foreign countries.
Civmec has begun cutting steel in Henderson for the first of 12 offshore patrol vessels to be built for the Royal Australian Navy under a $3 billion program.
