AUSTRALIA – POLITICS AND GOVERNMENT

TPP-11 signing sends Trump a message

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Original article by Andrew Tillett
The Australian Financial Review – Page: 6 : 8-Mar-18

Trade Minister Steven Ciobo says members of the 11-nation Trans-Pacific Partnership account for about 25 per cent of Australia’s exports, a figure that is likely to rise under the free trade deal. The Federal Government has revealed some details of the TPP; several participating nations will immediately scrap tariffs on products such as wine, seafood and steel, while some tariffs on beef will be phased out over a number of years. The TTP also includes provision for the free flow of data across borders. The TPP will be formally signed in Chile.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, TRANS-PACIFIC PARTNERSHIP, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Late push to stop creation of super-union

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 3 : 8-Mar-18

The Australian Mines & Metals Association believes that the Federal Government can still legislate to block the merger of the Construction, Forestry, Mining & Energy Union and the Maritime Union of Australia. AMMA has suggested amending the Ensuring Integrity Bill so the Government’s public interest test for union mergers applies before a date for amalgamation has been set. In the bill’s present form, the public interest test applies before a merger date has been set, but the Fair Work Commission has already set this for 27 March. The bill has yet to be put before the Senate.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, MARITIME UNION OF AUSTRALIA, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, MASTER BUILDERS AUSTRALIA INCORPORATED, NICK XENOPHON TEAM, LIBERAL DEMOCRATIC PARTY, ONE NATION PARTY

Labor a triple threat to jobs and wages: PM

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Original article by Phillip Coorey
The Australian Financial Review – Page: W3 : 8-Mar-18

Prime Minister Malcolm Turnbull has told a business summit that unemployment would rise if Opposition Leader Bill Shorten implemented his proposed minimum wage reforms. He warned that regulating increases in the minimum wage would not be sustainable unless it was accompanied by growth in the economy. Turnbull also said that Shorten’s stance on Adani’s proposed Carmichael coal mine has resulted in a "genuine" sovereign risk that could affect other projects, with a resulting impact on jobs and investment in Australia.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, ADANI MINING PTY LTD, RESERVE BANK OF AUSTRALIA, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, INTERNATIONAL MONETARY FUND

Turnbull, BHP warn Trump on the dangers of a trade war

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Original article by Phillip Coorey
The Australian Financial Review – Page: W1 & W2 : 7-Mar-18

The signing of the 11-nation Trans-Pacific Partnership free trade deal on 7 March has coincided with President Donald Trump’s push to increase US tariffs on imported steel and aluminium. Prime Minister Malcolm Turnbull will use the keynote address at a business summit in Sydney to emphasis the importance of free trade and open markets, and the negative effects of a trade war. BHP Billiton CEO Andrew Mackenzie has also expressed concern about Trump’s protectionist stance, although he is confident that free trade will prevail.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, TRANS-PACIFIC PARTNERSHIP, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, BHP BILLITON LIMITED – ASX BHP, REPUBLICAN PARTY (UNITED STATES), DEMOCRATIC PARTY (UNITED STATES), INTERNATIONAL MONETARY FUND, AUSTRALIAN LABOR PARTY, ADANI MINING PTY LTD, AUSTRALIA. DEPT OF FINANCE, UNITED STATES. DEPT OF COMMERCE

Employers lash Coalition on union merger

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Original article by Ewin Hannan
The Australian – Page: 1 & 4 : 7-Mar-18

The merger between the Construction, Forestry, Mining & Energy Union and the Maritime Union of Australia is slated to take effect on 27 March, after it was approved by the Fair Work Commission. The Australian Mines & Metals Association has urged the Federal Government to push for the Senate to block the merger prior to this date, although Workplace Relations Minister Craig Laundy argues that the Ensuring Integrity Bill is not retrospective so it would have no impact on the merger. The merged union will boast 144,000 members and $A310m worth of assets.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, MARITIME UNION OF AUSTRALIA, AUSTRALIA. FAIR WORK COMMISSION, TEXTILE, CLOTHING AND FOOTWEAR UNION OF AUSTRALIA, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, MASTER BUILDERS AUSTRALIA INCORPORATED, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

Canberra takes $8bn bath on Timor deal

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Original article by Cameron Stewart
The Australian – Page: 2 : 7-Mar-18

Australia and East Timor will sign a treaty on the maritime boundary between the two nations in New York on March 7. The treaty is likely to change the revenue-sharing arrangement for oil and gas reserves in the Timor Sea from the current equal split to one that favours East Timor. This would reduce Australia’s revenue share from around $A20bn to $A12bn over the next 35 years. East Timor’s revenue share may increase further if LNG is processed at existing facilities in Darwin rather than in East Timor.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, WOODSIDE PETROLEUM LIMITED – ASX WPL, CONOCOPHILLIPS, ROYAL DUTCH SHELL PLC, OSAKA GAS COMPANY, PERMANENT COURT OF ARBITRATION

Labor, unions urge PM to fight tariffs

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Original article by Primrose Riordan, Joe Kelly, Andrew Burrell, Ben Packham, Cameron Stewart
The Australian – Page: 4 : 6-Mar-18

Federal Government ministers have begun lobbying their US counterparts in a bid to exempt local companies from the Trump administration’s new tariff regime for steel and aluminium imports. Shadow treasurer Chris Bowen notes that Australia’s steel and aluminium exports to the US are worth $A240m and $A70m respectively. Daniel Walton, the national secretary of the Australian Workers’ Union, has warned of significant job losses in the local steel and aluminium sectors due to the tariff hikes, as well as the potential for the Australian market to be flooded with more low-cost steel from China.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF DEFENCE, UNITED STATES. DEPT OF COMMERCE, RIO TINTO LIMITED – ASX RIO, BLUESCOPE STEEL LIMITED – ASX BSL

PM’s poll survival plan

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 5 : 6-Mar-18

Prime Minister Malcolm Turnbull has downplayed concerns about his continued poor performance in public opinion polls. Turnbull ousted predecessor Tony Abbott after the latter had racked up 30 consecutive negative opinion polls, but the Coalition has now trailed Labor in 28 polls under Turnbull’s leadership. Supporters of Turnbull argue that he also cited factors such as Abbott’s lack of economic leadership for the spill in September 2015. Meanwhile, Opposition Leader Bill Shorten says his values and priorities are education, health and jobs, rather than opinion polls.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, NEWSPOLL, AUSTRALIA. DEPT OF HOME AFFAIRS

Softened spy laws sent for scrutiny

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Original article by Simon Benson
The Australian – Page: 4 : 6-Mar-18

The Federal Government has amended proposed foreign interference laws in response to the media industry’s concern about the impact on freedom of the press. Although journalists will not be exempt from the laws, they will only face criminal prosecution for reporting on classified documents if their actions pose a threat to public safety or national security, or affect an ongoing criminal investigation. The amendments will be scrutinised by the Parliamentary Joint Committee on Intelligence & Security.

CORPORATES
AUSTRALIA. JOINT PARLIAMENTARY COMMITTEE ON INTELLIGENCE AND SECURITY, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIAN LABOR PARTY, AUSTRALIAN FEDERAL POLICE, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION

Our debt pile grows at world-record pace

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Original article by David Uren
The Australian – Page: 4 : 5-Mar-18

Data from the OECD shows that Australia is one of just 10 advanced economies that have increased their debt by more than six per cent of GDP since 2012. The combined debt of Australia’s federal and state governments has increased by 12 per cent of GDP over the last five years. In contrast, New Zealand has reduced its debt by nine per cent over this period. Meanwhile, the average repayment term for Australia’s debt has risen from less than six years prior to the global financial crisis to nearly eight years.

CORPORATES
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, AUSTRALIA. DEPT OF THE TREASURY. OFFICE OF FINANCIAL MANAGEMENT, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA