ATO eyes legal fight against BHP, Rio hubs
Tax commissioner Chris Jordan has laid the groundwork for a blockbuster legal action against BHP Billiton and Rio Tinto, saying he is prepared to go to court against the two mining heavyweights on their much-publicised use of Singapore-based marketing hubs for tax purposes. The Aus
$250m police cuts
WA Police Commissioner Chris Dawson has been ordered to slash $250 million from his budget over the next five years as he undertakes his own major restructure of policing in metropolitan Perth. The West
Amazon out of the blocks
Amazon threatens to ruin Christmas for Australian retailers by launching its long-awaited retail offer today with one-day deliveries in most capital cities and 30 per cent discounts on big-brand toys and clothing. The Fin
Rio Tinto cautious on softening China
Rio Tinto believes the Chinese economy could slow during the next six months and the miner will temporarily close some Australian iron ore mines in the Christmas break as part of its focus on ‘‘value over volume’’. The Fin
House prices to fall further: economists
House prices are set to ease as the growth in mortgage lending, which fuels price rises, finally starts to unwind, two economists have warned. The Fin
Industry in push for battery storage subsidy
The Australian head of global energy management company Schneider Electric said state and federal governments should consider subsidies to encourage households to adopt home battery storage units, similar to those used for roof-top solar systems. The Fin
Ellison cashes in on MinRes share surge
Mineral Resources’ leadership has taken advantage of the miner’s soaring share price, with the managing director and chairman selling more than $40 million shares between them. The West
The Australian Financial Review
Page 1: Amazon threatens to ruin Christmas for Australian retailers by launching its long-awaited retail offer today with one-day deliveries in most capital cities and 30 per cent discounts on big-brand toys and clothing.
Page 3: Google, Facebook and other digital platforms will be put under the microscope as the competition watchdog dives into whether technology giants are exercising market power in commercial dealings to the detriment of consumers, media and advertisers.
Page 4: Planned laws aimed at stopping foreign interference in Australia’s democracy could have caught Labor senator Sam Dastyari, when he told a Chinese businessman and donor that his phone might be bugged.
Page 6: House prices are set to ease as the growth in mortgage lending, which fuels price rises, finally starts to unwind, two economists have warned.
Page 12: The Australian head of global energy management company Schneider Electric said state and federal governments should consider subsidies to encourage households to adopt home battery storage units, similar to those used for roof-top solar systems.
Page 17: Rio Tinto believes the Chinese economy could slow during the next six months and the miner will temporarily close some Australian iron ore mines in the Christmas break as part of its focus on ‘‘value over volume’’.
Page 23: Prime Minister Malcolm Turnbull faces expensive embarrassment if NBN Co cannot rectify problems that have halted the rollout of the HFC network he championed, as the company confirmed taxpayers will be forced to pay to maintain it for Telstra to broadcast Foxtel, even if it is ditched from the NBN.
The Australian
Page 1: Labor’s vaunted citizenship vetting process was under attack last night as Bill Shorten resisted moves to refer senior frontbencher Katy Gallagher to the High Court despite her admission to contesting last year’s election as a dual British citizen.
Page 2: Supermarket giants Coles, Woolworths and Aldi contributed to a report to government that acknowledges weaknesses in cashless debit card trials including that recipients have found ways to buy alcohol and prohibited goods, including tobacco.
Page 17: Tax commissioner Chris Jordan has laid the groundwork for a blockbuster legal action against BHP Billiton and Rio Tinto, saying he is prepared to go to court against the two mining heavyweights on their much-publicised use of Singapore-based marketing hubs for tax purposes.
Page 19: The iPhone X is shaping up as a winner for Telstra even as analysts digest the latest earnings downgrade from the incumbent telco.
Crown Resorts says it will “vigorously defend” a class action filed against the casino company that claims it failed to alert investors on the risks of its Chinese VIP strategy.
Page 20: Rio Tinto is aiming to permanently resolve the rail bottleneck that had constrained its otherwise sector-leading iron ore operations by pumping another $US200 million into fine-tuning the network.
Gold exploration in Western Australia held steady during the early days of the state’s gold royalty debate, despite industry warnings that a rise in charges would lead to a slump in drilling.
The West Australian
Page 1: WA Police Commissioner Chris Dawson has been ordered to slash $250 million from his budget over the next five years as he undertakes his own major restructure of policing in metropolitan Perth.
Page 3: Reports of violence against teachers by WA students in public schools have tripled in the past few years.
Page 9: WA’s first-homebuyers are in the best position in the country, living in the only State where the size of the deposit, and the time it takes to save it, has fallen in the past year.
Business: Fortescue Metals Group will appeal against a Federal Court judgment that granted an Aboriginal group exclusive rights over vast areas of the Pilbara, including land on which the miner’s Solomon Hub operations sit.
Institutional shareholders have won the fight for a continuation of corporate austerity at Rio Tinto after the mining giant yesterday appointed non-executive director Simon Thompson as its new chairman.
The WA division of global agribusiness giant Bunge has reported a loss of $1.4 million in its third year of operation.
Mineral Resources’ leadership has taken advantage of the miner’s soaring share price, with the managing director and chairman selling more than $40 million shares between them.
