BUSINESS AND POLITICS – AUSTRALIA

CEOs: Senate threat to growth

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Original article by James Thomson, Shaun Drummond, Simon Evans, Jamie Freed, Jessica Gardner, Jenny Wiggins
The Australian Financial Review – Page: 1 & 4 : 1-Sep-14

Wotif.com CEO Scott Bulme and Cochlear CEO Chris Roberts are among the executives who say the Senate should cease its resistance to the Australian Government’s Budget measures. Business leaders are concerned about the outlook for consumer and business confidence, arguing that it is being undermined by the impasse in the upper house. Many CEOs also believe that the Reserve Bank should not increase official interest rates while business confidence remains weak

CORPORATES
WOTIF.COM HOLDINGS LIMITED – ASX WTF, COCHLEAR LIMITED – ASX COH, PERPETUAL LIMITED – ASX PPT, RESERVE BANK OF AUSTRALIA, FLIGHT CENTRE TRAVEL GROUP LIMITED – ASX FLT, MEMBERS EQUITY BANK PTY LTD, TABCORP HOLDINGS LIMITED – ASX TAH, NIB HOLDINGS LIMITED – ASX NHF, AMP LIMITED – ASX AMP, EXPEDIA INCORPORATED

Business chiefs push for medical research fund

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Original article by Jemima Whyte, Joanna Heath, Jessica Gardner
The Australian Financial Review – Page: 1 & 4 : 28-Aug-14

Some business leaders are publicly supporting the Australian Government’s $A20 billion Medical Research Future Fund. UBS CEO Matthew Grounds, Wesfarmers CEO Richard Goyder and ASX CEO Elmer Funke Kupper are concerned that the measure will not be passed by the Senate. They said that it will provide social and commercial benefits for Australia, attracting capital and making the health sector more profitable

CORPORATES
WESFARMERS LIMITED – ASX WES, ASX LIMITED – ASX ASX, UBS HOLDINGS PTY LTD, AUSTRALIAN MOTORING ENTHUSIAST PARTY, AUSTRALIA. DEPT OF HEALTH, HEALTHSCOPE LIMITED – ASX HSO

ASX chief pleads for reform gridlock to end

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Original article by Andrew White
The Australian – Page: 17 : 25-Aug-14

Federal Trade and Investment Minister Andrew Robb recently said the Government was already rolling out measures to boost competitiveness, after a report was issued by the Business Council of Australia (BCA). It had argued the Government should foster certain industries that have a natural edge over others. The study, commissioned from McKinsey & Company, sparked claims the BCA was "picking winners". This has now been rejected by new BCA board member Elmer Funke Kupper, CEO of stock exchange operator ASX

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ASX LIMITED – ASX ASX, BUSINESS COUNCIL OF AUSTRALIA, McKINSEY AND COMPANY, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

Shell’s man cans corporate welfare

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Original article by Andrew Burrell
The Australian – Page: 18 : 21-Aug-14

The Committee for Economic Development of Australia on 20 August 2014 heard from Andrew Smith, the chair of Shell Australia. He argued that the industrial relations system needs to be overhauled in order to ensure further productivity gains, which in turn will improve living standards. Smith honoured the victims of previous reforms that had from the 1970s on dismantled the trade tariffs protecting many industries, and also said businesses must not rely on government aid

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SHELL COMPANY OF AUSTRALIA LIMITED,ROYAL DUTCH SHELL PLC,WOODSIDE PETROLEUM LIMITED – ASX WPL,COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA

G20 ‘has a duty to get tough on tax dodgers’

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Original article by Annabel Hepworth
The Australian – Page: 18 : 19-Aug-14

Stephen Martin, CEO of the Committee for Economic Development of Australia, will issue a paper on 18 August 2014 that calls for the Federal Government to ensure tangible outcomes are achieved when the nation hosts the Group of 20 (G20) leaders’ summit later in the year. A major issue will be action by G20 members to crack down on tax evasion via profit shifting by multinational corporations. Martin warns that diplomatic disputes such as that with Russia over its actions in Ukraine must not detract from the G20 agenda

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GROUP OF TWENTY (G-20), COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, AUSMIN, UNITED STATES. DEPT OF STATE

Call for review of safety laws

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Original article by Annabel Hepworth
The Australian – Page: 19 : 15-Aug-14

The Council of Australian Governments in 2008 announced a push to streamline workplace health and safety legislation nationally. However the state governments in Victoria and Western Australia have still not joined the framework in 2014, and the Business Council of Australia has now commented on the issue. In a submission lodged with the Federal Department of Employment, the employer body argues the model laws should be watered down in order to persuade all states to adopt them. The Master Builders Australia lobby group had also recently called for reform of the laws

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BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF EMPLOYMENT, MASTER BUILDERS AUSTRALIA INCORPORATED, COUNCIL OF AUSTRALIAN GOVERNMENTS

Market power laws ‘ludicrous’

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Original article by Phillip Coorey, Nassim Khadem
The Australian Financial Review – Page: 1 & 4 : 6-Aug-14

The National Press Club has heard from Wesfarmers CEO Richard Goyder, also chair of the Business 20 forum advising the Australian Government. His company owns major retailers Coles and Bunnings, and he rejected plans to extend section 46 of the Australian Consumer Law to small business operators in order to protect them against market dominance by large corporations. Goyder threatened that his group’s tax payments of $A1.5bn per annum and employment of 200,000 local jobs could be reduced, if it adopted the profit shifting strategies of overseas-based rivals such as Aldi or CostCo

CORPORATES
WESFARMERS LIMITED – ASX WES, COLES GROUP LIMITED, BUSINESS 20 (B20), GROUP OF TWENTY (G-20), AUSTRALIA. DEPT OF INDUSTRY, ALDI STORES SUPERMARKETS PTY LTD, COSTCO WHOLESALE AUSTRALIA PTY LTD, WESFARMERS BUNNINGS LIMITED, NATIONAL PRESS CLUB (AUSTRALIA), BORAL LIMITED – ASX BLD, WOOLWORTHS LIMITED – ASX WOW, HIGH COURT OF AUSTRALIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, BANK FOR INTERNATIONAL SETTLEMENTS. BASEL COMMITTEE ON BANKING SUPERVISION

Business warns impasse will stunt its growth

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Original article by David Ramli
The Australian Financial Review – Page: 1 & 6 : 23-Jul-14

BHP Billiton CEO Andrew Mackenzie says the Senate’s move to block key measures in the Federal Government’s May 2014 Budget is discouraging offshore investors from investing in Australia. In particular, he has urged senators to support the abolition of the mining tax, describing it as a "huge" disincentive for potential foreign investors. ANZ Bank CEO Mike Smith says the Government has been given a mandate and should be allowed to pursue it, a view shared by Telstra CEO David Thodey

CORPORATES
BHP BILLITON LIMITED – ASX BHP|AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ|TELSTRA CORPORATION LIMITED – ASX TLS|GE MINING SERVICES HOLDINGS PTY LTD|GROUP OF TWENTY (G-20)|BUSINESS 20 (B20)|AUSTRALIA. DEPT OF THE TREASURY|PALMER UNITED PARTY|AUSTRALIAN GREENS

Hockey sees progress on G20 growth target

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Original article by Laura Tingle
The Australian Financial Review – Page: 1 & 10 : 18-Jul-14

Australian Prime Minister Tony Abbott on 17 July 2014 addressed a meeting of the Business 20 (B20) forum that is helping the Government prepare for the Group of 20 (G20) summit in November. Australia is pushing the G20 member nations to adopt an economic growth target of 2% by 2019, and Australian Treasurer Joe Hockey has reportedly been given assurances by EU finance ministers that they will commit to the goal. A major focus of the advice by B20 will be investment in infrastructure. Hockey will speak to the delegates on 18 July

CORPORATES
BUSINESS 20 (B20), GROUP OF TWENTY (G-20), AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, UNITED STATES. DEPT OF THE TREASURY, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, GENERAL ELECTRIC COMPANY, SEB ASSET MANAGEMENT AG, RIO TINTO LIMITED – ASX RIO

‘Murky’ barriers must be cleared

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Original article by Annabel Hepworth
The Australian – Page: 19 : 16-Jul-14

Andrew Mackenzie, CEO of BHP Billiton, is also the co-ordinating chair of the trade taskforce at the Business 20 (B20) forum that flanks the Group of 20 (G20) summit later in 2014. He has called on the Australian Government to put trade barriers on the agenda for the G20, during its presidency of the body. A B20 gathering is being held in Sydney in mid-July 2014, ahead of a G20 trade ministers’ meeting. Mackenzie has commented that in the last seven years, 1,500-plus new trade impediments that are not tariffs have been created

CORPORATES
BHP BILLITON LIMITED – ASX BHP, BUSINESS 20 (B20), GROUP OF TWENTY (G-20), AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF AGRICULTURE, AUSTRALIA. DEPT OF INDUSTRY, AUSTRALIA. DEPT OF INFRASTRUCTURE AND REGIONAL DEVELOPMENT