Building wages sag in post-boom WA
Construction wages in Western Australia are expected to come under further pressure as workers in the civil, mining and commercial sectors adjust to post-boom conditions. The Fin
Public purse to fund jobs growth
The nation’s jobs market will become increasingly reliant on taxpayers during the next five years, as mining and manufacturing shed staff to make way for an army of health, education and welfare workers. The Aus
Papillon in play with Middlemas up for deal
Papillon Resources has sparked takeover speculation that should boost interest in Australian-listed West African gold stocks after the Perth company yesterday called a halt to share trading ahead of announcing a “potential corporate transaction”. The West
PM uses Hawke to push fee
Tony Abbott has urged Opposition Leader Bill Shorten to follow Bob Hawke’s lead and support the $7 Medicare co-payment. The West
Businesses face double tax threat
Business owners will face a “double whammy” of higher company tax and personal tax rates, tax advisers have said, because of Tony Abbott’s two new taxes: the paid parental leave levy and the deficit levy. The Fin
Investors warn Wesfarmers
Fund managers believe that retail, mining and industrials conglomerate Wesfarmers is out of its depth in bidding for private hospital operator Healthscope and warn that if the company ends up winning the sale process it will have paid too much. The Fin
Exxon makes PNG gas dream a reality
Profound change is underway in the Papua New Guinean economy — and the fortunes of Australian Securities Exchange listed companies Oil Search and Santos — following the first shipment from the ExxonMobil-led PNG liquefied natural gas project. The Aus
The Australian Financial Review
Page 1: Parliament’s independent budget adviser has rejected Labor and Greens’ claims the Abbott government has concocted a budget crisis, saying without action Australia’s debt will grow at one of the fastest rates in the developed world.
The bank regulator has intensified its crackdown on risky lending, pushing back against a potential property bubble and increasing the Reserve Bank of Australia’s capacity to keep interest rates at a record low.
Page 3: The Tax Office has warned of increased scrutiny of self-managed super funds and their auditors as it gears up to impose penalties of up to $10,200 on funds found breaking the law from July.
Qantas Airways appears to be losing ground to Virgin Australia in Australia even though its rival cut the number of seats for the third month.
Page 7: Business owners will face a “double whammy” of higher company tax and personal tax rates, tax advisers have said, because of Tony Abbott’s two new taxes: the paid parental leave levy and the deficit levy.
Page 11: Construction wages in Western Australia are expected to come under further pressure as workers in the civil, mining and commercial sectors adjust to post-boom conditions.
Page 15: The board of risk management and information group SAI Global have been urged to ignore turmoil inside the company and focus on extracting the best price possible for the company, after a $1.1 billion approach from private equity giant Pacific Equity Partners put it in play.
Telstra has warned investors and analysts its market-leading mobile subscriber growth, which is partly responsible for its rocketing share price, will slow in the second half of financial year 2013-2014.
Page 19: UBS’s most senior Australian executive, Matthew Grounds, has relinquished his international responsibilities role including running the investment banking division in Asia as part of broader management changes to the local operations.
Page 20: Fund managers believe that retail, mining and industrials conglomerate Wesfarmers is out of its depth in bidding for private hospital operator Healthscope and warn that if the company ends up winning the sale process it will have paid too much.
Australia’s major coalminers are combing their cost bases meticulously and driving productivity hard to counter falling prices, with initiatives stretching to recycling and selling waste products.
The Australian
Page 1: The nation’s jobs market will become increasingly reliant on taxpayers during the next five years, as mining and manufacturing shed staff to make way for an army of health, education and welfare workers.
Page 2: Chemical giant Orica has launched a fresh bid to start shipping its vast stockpile of highly toxic waste from Botany in south-eastern Sydney to France.
Agriculture Minister Barnaby Joyce is backing an Australian beef industry initiative to issue an environmental sustainability stamp, in a move that will effectively cut out global green group the World Wildlife Fund.
Page 4: The Maritime Union of Australia has been forced to abandon a 48-hour strike due to start today after the intervention of the Fair Work Commission.
Page 7: The leading advocate for a co-payment on bulk-billed GP services, Terry Barnes, says the government has bungled the selling of this key budget measure and will need to amend it to secure support in the Senate.
Page 19: BHP Billiton’s recasting of its expansion plans for its Olympic Dam copper/uranium mine in South Australia’s outback have been served up a new challenge — the collapse in uranium prices.
Page 20: Profound change is underway in the Papua New Guinean economy — and the fortunes of Australian Securities Exchange listed companies Oil Search and Santos — following the first shipment from the ExxonMobil-led PNG liquefied natural gas project.
Australian services companies should be far more aggressive in investing in Japan and seizing on the likely benefits of the recently finalised free trade agreement, former Austrade chief economist Tim Harcourt says.
Page 29: The Abbott government has handed down an unpopular budget but there is joy for the tech sector with a 40 per cent increase for technology investments.
The West Australian
Page 3: WA has the highest eligibility hurdle for public housing in Australia, with the amount a tenant is allowed to earn before they no longer qualify unchanged for almost a decade.
Holden is recalling almost 42,000 vehicles after discovering a fault could cause front seatbelts not to work properly in an accident.
Page 6: Tony Abbott has urged Opposition Leader Bill Shorten to follow Bob Hawke’s lead and support the $7 Medicare co-payment.
Page 17: Cottesloe council has knocked back plans for European-style sun lounges on the beach amid concerns it could hurt local business and was “not Australian”.
Business: Papillon Resources has sparked takeover speculation that should boost interest in Australian-listed West African gold stocks after the Perth company yesterday called a halt to share trading ahead of announcing a “potential corporate transaction”.
Andrew Forrest is on the hunt for a chief executive to run Harvey Beef just weeks after buying WA’s biggest beef processor and exporter.
The Scandinavian-focused iron ore miner Northern Iron has launched a blocking action as it tries to unmask the ownership of its biggest shareholder.
D’Orsogna is preparing to build on its remarkable success with a multi-million-dollar investment in a new pork processing plant in Victoria.
WA-based agribusiness Wellard has scored two major breakthroughs in trade with China as it prepares for a boom in exports of livestock and processed red meat.
The operation of a new Pilbara power station project is facing further delays because of a conflict between the receiver for collapsed contractor Forge Group and a US supplier of generators.