Gas majors called to fix ‘energy crisis’
Big gas producers are scrambling to come up with solutions to a looming domestic gas shortage to avoid potential restrictions on LNG exports as Prime Minister Malcolm Turnbull called an urgent meeting to resolve the national ‘‘energy crisis’’. The Fin
Barnett could still win, say analysts
Labor is expected to win Saturday’s election in Western Australia. But it is the increasing number of voters fed up with the major parties and whether or not they vote for Pauline Hanson’s One Nation that has left analysts cautious on ruling out Premier Colin Barnett clinging on. The Fin
Business leaders make case for fresh outlook
Western Australia’s leading business figures have warned urgent action is needed to tackle the state’s tattered finances, boost jobs and diversify the economy no matter who wins the election on Saturday. The Fin
Coalition to come out swinging on penalty rates as Howard heckled by union ‘bullies’
The Turnbull government is launching a belated defence of the controversial Fair Work decision to scale back Sunday penalty rates, as cabinet ministers meet today to hatch a political strategy to convince voters of the need for job-creating changes. The Aus
Dissent expands the perils of Pauline
Liberal insiders are worried there may be no net benefit from a preference deal with One Nation in Western Australia after it became apparent that Pauline Hanson’s party is riddled with dissent and has even fewer volunteers than first thought to distribute how-to vote cards tomorrow. The Aus
ABCC ‘putting foreign workers before Aussies’
Construction companies wanting federal work will be banned from having enterprise agreements that require foreign workers to be retrenched ahead of Australian workers, under the Turnbull government’s new industry code. The Aus
Dole recipients swell in southern suburbs
Recession-like job losses in WA have fuelled a spike in people living off unemployment benefits with jobless ranks swelling by up to 46 per cent in pockets of Perth since full-time employment peaked two years ago. The West
Election turns ugly as polling day nears
The WA election campaign has turned nasty, with a Labor frontbencher threatening companies over the Roe 8 highway contract and Liberal MPs forced to call police after receiving death threats. The West
Drop royalties raid or we’re out: Grylls
Nationals leader Brendon Grylls has declared his party will not negotiate an alliance deal with the Liberal Party after the election unless it drops a proposed realignment of the Royalties for Regions program. The West
The Australian Financial Review
Page 1: Big gas producers are scrambling to come up with solutions to a looming domestic gas shortage to avoid potential restrictions on LNG exports as Prime Minister Malcolm Turnbull called an urgent meeting to resolve the national ‘‘energy crisis’’.
Corporate Australia is split over Malcolm Turnbull’s company tax cut plan, with two of the country’s most prominent business leaders warning that the move may not stimulate investment by big companies and calling on the federal government to formulate a wider reform package to stimulate economic growth.
Page 3: Kaggle, the data science platform set up by former government economist Anthony Goldbloom in his Sydney bedroom, has been bought by American technology giant Google in an estimated multimillion-dollar deal.
The federal government has given the go-ahead for a scheme in which the private sector would have access to cheap capital in return for building more community housing.
Page 4: One Nation leader Pauline Hanson’s rocky week has worsened after she was caught out trying to sell her home state of Queensland down the river over the goods and services tax.
Page 5: Australian bond yields have shot up to 15-month highs as the chance of arate rise by the Reserve Bank of Australia increases and global markets scramble to position for a faster than expected pace of US monetary policy tightening.
Page 6: Fair Work Ombudsman Natalie James has warned business to ‘‘get your house in order’’ ahead of the Turnbull government’s game-changing new laws to increase penalties for underpayment of wages to up to $550,000.
Page 8: In the past decade, the way the nation’s companies use law firms has dramatically evolved. Firms can no longer rely on a loyal relationship to deliver a steady, reliable stream of full-service work.
Page 10: Labor is expected to win Saturday’s election in Western Australia. But it is the increasing number of voters fed up with the major parties and whether or not they vote for Pauline Hanson’s One Nation that has left analysts cautious on ruling out Premier Colin Barnett clinging on.
Page 11: WA Nationals leader Brendon Grylls would rather send Western Australians back to the polls than form a minority government with the Liberals if his alliance partner does not drop plans to redirect funding from his signature Royalties for Regions policy.
Western Australia’s leading business figures have warned urgent action is needed to tackle the state’s tattered finances, boost jobs and diversify the economy no matter who wins the election on Saturday.
Page 12: Shell Australia chairman Andrew Smith has blamed some gas customers for worsening the crisis in the east coast for selling fuel back to LNG export ventures as producers are subjected to a political blowtorch over shortages for manufacturing and power generation.
Page 23: Washington H. Soul Pattinson-backed investment firm Pengana has agreed on a merger with Hunter Hall, creating a $3 billion retail funds manager with capacity to grow to $10 billion.
Rio Tinto chairman Jan du Plessis is set to bring his eight-year stint as chairman to an end, as he prepares to take on another major directorship in Britain.
The Australian
Page 1: The Liberal-Nationals governing alliance in Western Australia is unravelling on the eve of tomorrow’s state election, after an 11th-hour Liberal Party push to “gut” the Royalties for Regions program that has delivered billions of dollars to the bush since 2008.
The Turnbull government is launching a belated defence of the controversial Fair Work decision to scale back Sunday penalty rates, as cabinet ministers meet today to hatch a political strategy to convince voters of the need for job-creating changes.
Page 4: Construction companies wanting federal work will be banned from having enterprise agreements that require foreign workers to be retrenched ahead of Australian workers, under the Turnbull government’s new industry code.
Page 8: Labor’s election pledges will make only a minor dent in Western Australia’s $40 billion debt pile but a McGowan government could return the budget to surplus within three years, according to the opposition’s election costings.
Liberal insiders are worried there may be no net benefit from a preference deal with One Nation in Western Australia after it became apparent that Pauline Hanson’s party is riddled with dissent and has even fewer volunteers than first thought to distribute how-to vote cards tomorrow.
Page 19: David Gonski has declared that cutting the corporate tax rate would make little difference to large Australian companies, putting the ANZ chairman at loggerheads with the Business Council of Australia’s push to lower taxes.
One of the world’s largest food and agriculture companies says it will reconsider expanding its operations in Australia unless it can secure guaranteed supplies of power and gas at prices that allow its local operations to remain competitive in its global empire.
Rio Tinto’s long-standing chairman Jan du Plessis has announced his intention to leave the mining giant after winning the chairmanship of British telecoms group BT and amid escalating anti-corruption investigations into Rio’s dealings around the Simandou iron ore project.
Page 21: Competition tsar Rob Sims has declared punters have enough choice as he cleared wagering concerns about a combined Tabcorp and Tatts, saying the number of online bookmakers means that hurdle has been jumped.
Page 22: Origin Energy chief Frank Calabria says he is open to different funding models for the Ironbark coal seam gas project in Queensland.
The West Australian
Page 1: WA’s crippling debt will barely change for years under a Labor government but Opposition Leader Mark McGowan is promising a surplus of $204.9 million by 2020 if he is elected tomorrow.
Page 5: Recession-like job losses in WA have fuelled a spike in people living off unemployment benefits with jobless ranks swelling by up to 46 per cent in pockets of Perth since full-time employment peaked two years ago.
Page 6: The WA election campaign has turned nasty, with a Labor frontbencher threatening companies over the Roe 8 highway contract and Liberal MPs forced to call police after receiving death threats.
Here’s the Budget bottom line. In 2019-20, Premier Colin Barnett and Treasurer Mike Nahan are promising a Budget surplus of $24 million and net debt of $28.8 billion. For the same year, Labor leader Mark McGowan and shadow treasurer Ben Wyatt reckon they’ll have a surplus of $205 million and net debt of $39.9 billion.
Page 7: Nationals leader Brendon Grylls has declared his party will not negotiate an alliance deal with the Liberal Party after the election unless it drops a proposed realignment of the Royalties for Regions program.
Colin Barnett has lashed out at Labor’s plan to sell the naming rights for the Perth Stadium, saying the venue belongs to West Australians.
Page 11: Police were called to a Mt Hawthorn pub last night after a protest against One Nation leader Pauline Hanson turned violent.
Page 22: It is the secret double whammy that means next month’s health fund premium rise will hit your hip pocket even harder.
Page 81: Rio Tinto’s post-boom transformation is all but complete, with chairman Jan du Plessis set to leave the company for British telecommunications giant BT Group.
The future of more than 600 Perth jobs supporting the Darwin LNG plant is in doubt unless more gas is developed to keep the plant full, according to US oil giant ConocoPhillips.
CIMIC’s hostile bid for WA contractor Macmahon Holdings has ended in failure.
Page 82: The Griffin coal mine’s Indian buyer would have made the same purchase offer even if information that is the subject of a misleading and deceptive conduct suit had been disclosed, a court was told yesterday.
Two Bis Industries directors from private equity owner KKR & Co have quit the board as the debt-ridden mining services provider considers taking on new shareholders.
