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The Australian Business Review
 

Good morning,

Wesfarmers CEO Rob Scott has slammed new 'right to disconnect' industrial relations changes as totally unnecessary, while warning fresh state payroll taxes and complex regulations were hurting businesses and feeding inflation.

Meanwhile, Resources Minister Madeleine King has gone to war with BHP in an extraordinary spray, attacking one of Australia’s biggest tax­payers and employers for always “railing against” Labor policies and refusing to work productively with union leaders.

And Gina Rinehart will tell The Australian’s Bush Summit today that renewable energy can't replace base­load coal and gas , saying ­“humungous” spending will be needed on solar and wind as the country's electricity grid faces an uncertain path to green power. 
Perry Williams
Business editor
The markets


Making news this morning
1
Greens’ tax ‘insidious populism’
CBA boss Matt Comyn has lashed the Greens’ proposed $514bn ‘Robin Hood’ tax on major corporations as an exercise in ‘insidious populism’.
2
Unaudited Cettire books warn of soft luxury market
The online luxury goods marketplace’s shares tumbled after releasing full-year accounts that are yet to be signed off by an auditor, which is closely reviewing how revenue is recognised.
3
Bell’s historic sheep stations offloaded for $780m
Historic Australian sheep stations controlled by late stockbroker-turned pastoralist Colin Bell have been sold to a special-purpose US fund.
Editor's picks
MARGIN CALL
Harding’s purple reign still haunting icare bean counters
Bloated government agency Insurance and Care NSW has spent more than two years and over $300k basically trying to eradicate the colour purple from its branding.
By YONI BASHAN
MINING
WA emissions requirements ‘beyond reasonable’: South32
The miner has questioned the Western Australia government’s rationale for proposed emissions reductions at its Worsley expansion, which it says go way beyond national requirements.
By CAMERON ENGLAND
MANSION
Why this secret South Australian location is attracting buyers
Word’s spreading about the beautiful and diverse spot just a short drive from Adelaide
By GIUSEPPE TAURIELLO
Commentary
Bunnings is Wesfarmers’ biggest strength and weakness
By ERIC JOHNSTON
Associate Editor
Rob Scott’s conglomerate will be tested when gravity finally catches up with the hardware juggernaut.
End of an era: McCrann’s snapshot of 46 years
By TERRY MCCRANN
Business commentator
It’s the end of an era as legendary business columnist Terry McCrann looks back at the past 46 years as he signs off on his last regular column.
Dataroom
→ Southern Cross confirms TV unit on the block
The broadcaster has confirmed it is back in active talks with Paramount’s Network Ten about a sale of its regional television assets.
→ Jemena suitor lines up acquisition of stake in $5bn gas business
One prospective buyer has dropped out but another is starting to look increasingly likely as it progresses towards an acquisition of Singapore Power’s 40 per cent stake in Jemena.
→ SingPost ready to begin its $1bn local sale
Singapore Post is believed to be ready to start the sale process of its Australian business, which includes its Freight Management Holdings and CouriersPlease business.
 
 
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