Budget to slice $23bn off debt pile
Scott Morrison’s budget update today will show the federal government reining in debt for the first time since the global financial crisis, with $23 billion forecast to be shaved off over the next four years. The Aus
WA power bills keep rising as subsidy cut
West Australians will face the biggest increases in power prices of any residents in the nation, with more than $200 added to local electricity bills over the next two years as the State Government attempts to repair the State Budget. The West
Baby food farce
Perth pharmacists and supermarket workers are hiding stock for regular customers to combat the “unprecedented” drain of China’s “grey market”. The West
Kum mulls legal action against MMA
Billionaire hotel tycoon Michael Kum has changed tack in his fight with ASX-listed MMA Offshore, with his Halom Investments mulling legal action against directors for possible breach of duties, while accusing the company of misleading shareholders over a recent capital raising. The Fin
Uber targets top Australian brands
Uber is chasing partnerships with more blue-chip corporate brands in 2018 to help cement its dominant position in the local ride-sharing market as more competitors like Taxify enter Australia. The Fin
Farming never better for woolgrowers
Australian agriculture is riding high on the back of unprecedented wool prices driven by demand from China and shifts in the global textile industry. The Fin
ATO’s $75bn crackdown on debt
The Australian Taxation Office has sealed deals with 12 of its biggest multinational targets on related party debt, in a coup that will settle cases related to $75 billion of borrowing. The Aus
Brierty relied on land sales
Civil and mining contractor Brierty counted on sales of Darwin residential lots to keep trading before a property market slump helped trigger its financial collapse, according to administrators. The West
The Australian Financial Review
Page 1: US President Donald Trump’s Republicans have settled on the most sweeping overhaul to business and personal taxes since 1986, including slashing the corporate rate to 21 per cent, and are poised to legislate the historic package this week.
Page 5: The Nationals have secured their five spots in the Turnbull government’s cabinet despite calls from Liberals that the junior Coalition partner should lose a place in a ministerial reshuffle that could be announced this week.
Page 6: Australian agriculture is riding high on the back of unprecedented wool prices driven by demand from China and shifts in the global textile industry.
Page 8: Households should get some welcome relief from soaring power costs over the next two years as more wind and solar energy comes into the market under renewable energy targets, the Australian Energy Market Commission says.
The federal government has made three new appointments, including former Westpac deputy chief executive Philip Coffey, to the board of the Clean Energy Finance Corporation which has now helped bankroll more than 1 gigawatt of new solar projects across the country.
Page 15: Favourable funding conditions and resurgent boardroom confidence have helped fuel a late flurry of mergers and acquisitions, buoying local deal prospects for 2018.
Page 17: Uber is chasing partnerships with more blue-chip corporate brands in 2018 to help cement its dominant position in the local ride-sharing market as more competitors like Taxify enter Australia.
Page 29: Billionaire hotel tycoon Michael Kum has changed tack in his fight with ASX-listed MMA Offshore, with his Halom Investments mulling legal action against directors for possible breach of duties, while accusing the company of misleading shareholders over a recent capital raising.
The Australian
Page 1: Scott Morrison’s budget update today will show the federal government reining in debt for the first time since the global financial crisis, with $23 billion forecast to be shaved off over the next four years.
Page 13: The Australian Taxation Office has sealed deals with 12 of its biggest multinational targets on related party debt, in a coup that will settle cases related to $75 billion of borrowing.
In the week Amazon launched in Australia the US retail giant’s country manager, Rocco Braeuniger, initiated a meeting with competition regulator Rod Sims to discuss the pandora’s box of competition and consumer issues that would spring from its arrival on our shores and further explain the company’s business model.
Australian Federal Police have been working with financial intelligence agency Austrac in its investigation of the Commonwealth Bank over more than 53,000 alleged breaches of antimoney-laundering and counterterrorism finance laws.
Page 14: Chances of Rio Tinto’s $US2 billion ($2.6bn) sales process for its Queensland coalmines coming unstuck could be increasing, according to sources, with suggestions indicative bids may have failed to live up to some of the market’s earlier giddy expectations.
Page 15: Federal Health Minister Greg Hunt will not give up his role in deciding health insurance premium increases despite members of a key advisory group calling for deregulation.
The West Australian
Page 1: Perth pharmacists and supermarket workers are hiding stock for regular customers to combat the “unprecedented” drain of China’s “grey market”.
Page 5: West Australians will face the biggest increases in power prices of any residents in the nation, with more than $200 added to local electricity bills over the next two years as the State Government attempts to repair the State Budget.
Page 9: Taxi owners have thrown the McGowan Government’s plate buy-back scheme into disarray after refusing to accept initial offers starting at $100,000.
Page 10: Two of Perth’s hospitality whizkids are about to embark on a new restaurant venture with their purchase of the historic Coogee Hotel.
Business: Civil and mining contractor Brierty counted on sales of Darwin residential lots to keep trading before a property market slump helped trigger its financial collapse, according to administrators.
CBH Group has paid about $160 million to WA growers from the current pool products season, after delivering a market-beating performance.
