Wednesday, November 8, 2017

Morning mail: Loy Yang B owners moved $1bn offshore

Morning Mail

Morning mail: Loy Yang B owners moved $1bn offshore

Thursday: Paradise Papers show switch within days of taking $117m from Australian taxpayers. Plus: Sam Dastyari called a 'terrorist' in a Melbourne bar

Loy Yang power station in the Latrobe Valley, Victoria, is also one of Australia's largest emitters of greenhouse gases.
Loy Yang power station in the Latrobe Valley, Victoria, is also one of Australia's largest emitters of greenhouse gases. Photograph: David Crosling/AAP

Eleanor Ainge Roy


Good morning, this is Eleanor Ainge Roy bringing you the main stories and must-reads on Thursday 9 November.

Top stories

The owner of one of Australia's dirtiest coal-fired power plants quietly moved $1bn offshore within days of pocketing $117m from taxpayers in compensation for Labor's now-defunct carbon tax, the Paradise Papers show. In 2012 the Gillard government created a $5.5bn compensation scheme to accompany its carbon tax. One of the big winners was the owner of Loy Yang B, the British-listed company International Power, which in turn was owned by the French multinational GDF Suez – now known as Engie. The $5.5bn energy security fund was dubbed by the then shadow environment minister, Greg Hunt, as "the biggest cash handouts in Australian history" made to the companies thought to be the country's "biggest polluters".

Within days the compensation, Loy Yang B's owner upstreamed $1bn in dividends out of its Australian operations as part of its aptly named "Project Salmon". Engie said in a statement that the dividends did not involve the distribution of any cash outside of Australia. It also flatly denied sending any of the carbon tax compensation back to its offshore owners. Engie is now in the final stages of selling Loy Yang B.

Donald Trump has thumbed his nose at China's draconian censorship regime as he touched down in Beijing on his 12-day East Asian tour. China was last year labelled the world's worst abuser of internet freedom with Trump's favourite means of communication, Twitter, blocked across the mainland. But a senior White House official has told reporters Trump will not concede to the ban and overnight the president has fired off a stream of tweets from within the country. "The president will tweet whatever he wants. That's his way of communicating directly with the American people. Why not?" the official was quoted as saying by a pooled report. "I'm sure we've got the gear aboard this airplane to make it happen."

Australia's corporate regulator has committed a serious privacy breach by allowing users of its website to access the search history of other users. The loophole could lead to possible insider trading if users could view which companies were being researched by, for example, a private equity buyout firm, or damage a journalist's ability to investigate wrongdoing. Asic has reportedly known about the problem for 12 days. Queensland's privacy commissioners called the apparent breach a "cause for concern".

The Labor senator Sam Dastyari has been abused in a Melbourne bar by a far-right group, with one man declaring during the tirade: "You terrorist, you little monkey." The ugly scene in the Victoria University student bar on Wednesday evening was captured on video and posted on Facebook. The group approached Dastyari, who is of Iranian heritage, and began abusing the high-profile senator, first referencing his controversial political fundraising with Chinese donors. The verbal attack spiralled, with one man saying: "Why don't you go back to Iran, you terrorist?"

Italian chef Antonio Carluccio, often considered the godfather of Italian gastronomy in the UK, has died. Carluccio's restaurants were favourites of celebrities such as Elton John and he mentored a young Jamie Oliver, who remembered him as the "don of all things Italian". The chef and TV star wrote 22 books and his motto was "mof mof" – minimum of fuss, maximum of flavour. "I've received a lot of letters from old men recently, widowers, wanting to know if they can improve the quality of their life through cooking," Carluccio, a wild mushroom fanatic, said a few years ago. "And they can! No matter the budget! Even, say, baked beans, fried in a little oil, with some salt, garlic and chilli, can transform an ordinary meal into something special and can provide you with a sense of purpose, achievement."

Sport

On day one of four England has run 278 for 8 against Cricket Australia XI in Adelaide, with England's opening batsman Mark Stoneman saying "there are lessons to be learned" from the match, with England needing to tighten up their game, writes Will Macpherson.

Tom Rogic's success with Celtic provides a blueprint for how the Socceroos can unleash their most technically-gifted footballer in the crucial World Cup qualifier against Honduras.

History will be made when the first day-night Ashes Test, men's or women's, gets under way at North Sydney Oval today. Australia's women can ensure the Ashes trophy remains on home soil with victory over England in the four-day match, while England know a win for them will keep their hopes in the series very much alive. Join Geoff Lemon from 2pm for a 2:30 start (AEDT) for updates.

Thinking time

Australian artist Sidney Nolan.
Australian artist Sidney Nolan. Photograph: PR IMAGE

When Lady Mary Nolan died last year, she left behind hundreds of works by her late husband, Sidney Nolan, whose estate she had managed since his death 25 years ago. The public will be invited to bid for 118 of his pieces, ranging from crayon works to oil paintings in an auction on 19 November. The collection includes an unprecedented 22 paintings of Ned Kelly. 'This auction shows us again how influential Kelly was in Nolan's life,' says art consultant Mark Fraser, who is handling the sale. View the gallery of works here, with the bidding for some beginning as low as $3000.

When photojournalist Pete Souza began photographing senator Barack Obama in 2005, he had an inkling that the charismatic politician may one day be president. When Obama was elected as Potus in 2008, Souza was asked to become the official white house photographer, a job he agreed too – on the condition he got access to all areas. Obama agreed and so began a professional partnership that has spawned some of the most intimate photographs to emerge from the white house in decades. In this essay, Souza reflects on his time with the former president, and just why Obama takes a good picture.

The trailer for forthcoming Australian sex comedy Swinging Safari starring Guy Pearce and Kylie Minogue launched this week, depicting a 1970s rife with booze, sun, surf and sex, and visions of kink a-plenty position the film in a pantheon of raunchy local comedies and what-the-hell-were-they-thinking feats of cinematic impropriety. Here are five stupendously weird Australian "sexploitation" films that helped pave the way for it.

What's he done now?

It appears China's ban on Twitter has not stopped Donald Trump using the medium to document his stay in the country and direct further threats towards North Korea. "NoKo has interpreted America's past restraint as weakness. This would be a fatal miscalculation. Do not underestimate us. AND DO NOT TRY US." he tweeted overnight. Chinese commenters on his posts have warned the president it is illegal to use Twitter in the country – although some have also asked his advice on how he accessed it.

Media roundup

The Hobart Mercury has devoted its front-page to the death of rescue helicopter pilot Roger Corbin, who is being remembered as a hero in Tasmania for saving dozens of lives during the course of his long career. The premier, Will Hodgman, said his death was a blow to the state and he was a "linchpin" of the air rescue service. The NT News has a front-page devoted to the apparent friendliness of the territory's toads. New research by the University of Sydney and Macquarie University has found cane toads living on the "invasion front" were more likely to seek out other toads for company than those in more established populations.

And the ABC has an in-depth read on the dangers for people with hypermobility. Bendy Australians whose connective tissues are more elastic than they should be are risking their health with those amusing party-tricks, it claims.

Coming up

Malcolm Turnbull will arrive in Danang in Vietnam for the Apec summit. Donald Trump arrives on Friday for the official start of the meeting. Sentencing of Barossa valley winemaker Trevor David Jones who destroyed 25,000 litres of a rival's wine.

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