Forrest slams Abbott’s jobs plan
Mining magnate Andrew Forrest has slammed the government’s new unemployment plan, saying it risks another five years of “inefficient and ineffective” training programs that reward agencies in a “cash barbecue”. The Aus
Barnett in collusion recant
Premier Colin Barnett has recanted his accusation that BHP Billiton and Rio Tinto are “acting in concert” but has warned the mining giants are risking thousands of WA jobs by flooding the global iron ore market. The West
CFMEU offers Perth pay cut
The Western Australian arm of the construction union has dispatched an enterprise agreement straight to contractors, offering reduced rates of pay for all commercial labourers and trades. The Fin
Energy BHP, Rio look at switching to gas
Rio Tinto and BHP Billiton say they are investigating ways to convert their mines, trucks and trains from diesel power to gas, continuing a trend that has been vigorously pursued by Fortescue Metals Group. The Fin
Hospital costs cause concern
Medibank Private managing director George Savvides has said Australians overpay for common surgeries like hip replacements and caesarean sections, as the health insurer ramps up its campaign to put a lid on private hospital costs ahead of its $4 billion-plus float. The Fin
Union deals hold up pay growth
The ACTU claims that large unionised workforces are maintaining a “wage premium’’ even as the soft economy imposes close to a wage freeze across large parts of the jobs market. The Fin
The Australian Financial Review
Page 1: The ACTU claims that large unionised workforces are maintaining a “wage premium’’ even as the soft economy imposes close to a wage freeze across large parts of the jobs market.
Page 3: Rio Tinto chief executive Sam Walsh has expressed incredulity at the attacks on the miner from Western Australian Premier Colin Barnett, given the state government approved the miner’s ramp-up of production now being blamed for depressing iron ore prices.
Page 7: The cost of building projects has fallen by up to 50 per cent as construction companies desperately seek work after the end of the mining boom, making it a good time to invest, Deputy Prime Minister Warren Truss said.
Page 9: The Western Australian arm of the construction union has dispatched an enterprise agreement straight to contractors, offering reduced rates of pay for all commercial labourers and trades.
Page 10: Advisers have cheered the creation of a $15 million fast track to permanent residency for wealthy foreigners, in a move by the Abbott government to harness Asia’s wealth to boost economic growth and job creation.
Page 11: The federal government has flagged expanding its competitiveness agenda to incorporate other sectors of the economy amid a backlash from key industries which were excluded from the priority list.
Page 12: Medibank Private managing director George Savvides has said Australians overpay for common surgeries like hip replacements and caesarean sections, as the health insurer ramps up its campaign to put a lid on private hospital costs ahead of its $4 billion-plus float.
Page 25: Commonwealth Bank of Australia directors are satisfied the nation’s largest home lender is holding appropriate levels of equity to withstand a shock to housing markets after stress-testing the $400 billion mortgage book at a board meeting on Tuesday.
Generous research and development tax concessions could spur more Silicon Valley technology start-ups to list in Australia following the successful float of San Francisco-based online recruiter 1-Page.
Page 27: Rio Tinto could eclipse its own ambitious iron ore production target for the 2014 year after a strong September quarter, amid attacks on its expansion strategy by government and industry.
Page 28: Rio Tinto and BHP Billiton say they are investigating ways to convert their mines, trucks and trains from diesel power to gas, continuing a trend that has been vigorously pursued by Fortescue Metals Group.
Page 32: Heavy betting on the final stages of the 2014 FIFA World Cup has boosted the performance of wagering giant Tabcorp, which has announced a 6.6 per cent lift in first quarter revenues across the group.
The Australian
Page 3: The school economics curriculum was designed as “kidonomics”, intended to provide an introduction to basic concepts such as markets, choice and resources rather than to train economists, the lead writer said yesterday.
Unpredictable on the field, even more so off it. Parramatta star Jarryd Hayne stunned Australian sport yesterday when he announced he would leave the NRL to pursue his long-held dream of playing American football.
Page 4: Mining magnate Andrew Forrest has slammed the government’s new unemployment plan, saying it risks another five years of “inefficient and ineffective” training programs that reward agencies in a “cash barbecue”.
The federal government is preparing a renewed push to end an impasse in the Senate over more than $20 billion in budget savings as Joe Hockey insists he will “stay the course” on economic policy.
Page 5: Tony Abbott has described the ANU’s divestment of $16 million in resources stocks on environmental grounds as “stupid” and defended the government’s criticisms of the university’s decision.
Page 19: Rio Tinto has hit record production at its Pilbara iron ore mines and is on track to significantly boost its output — a move the miner’s boss Sam Walsh makes no apologies for, despite an outburst from Western Australian Premier Colin Barnett about the strategy.
Chinese investment is flooding into Australia’s dairy industry, with four multi-million dollar mega-deals in progress that are likely to see Chinese state-owned companies taking big stakes in all Australia’s largest dairy farming operations.
Wal King believed he could be elevated to Leighton’s chairman by Spanish construction giant ACS and told prominent Queensland property developer David Devine they would eventually “conquer the world” during the depths of the global financial crisis, according a new autobiography by Mr Devine.
Page 21: Future Fund has forecast lower investment returns due to the withdrawal of stimulus measures and rising interest rates in the US, after the fund reported returns in excess of 14 per cent for the last two years.
Page 27: Westfield’s famed Lowy family has sunk $177.3 million of its own money into the mega-mall owner’s offshore-focused arm Westfield Corporation, raising speculation the company might look to sell down its stake in Westfield’s Australian spin-off Scentre Group.
Page 29: Construction and development powerhouse Lend Lease has flagged its intention to shift just over $400 million into its internal property trust as it looks to invest in its $37 billion-plus pipeline.
The West Australian
Page 1: The Corruption and Crime Commission tried to thwart a police investigation into allegedly corrupt CCC officers by denying access to key documents, witnesses and suspects, State Parliament has been told.
Page 9: Penfolds Grange 2010, which today hits liquor stores that can afford to carry it, is one of the most eagerly anticipated releases of this iconic Australian red wine.
Page 11: Four months after its repeal, the carbon tax is to be removed from Perth’s public transport costs — resulting in fare reductions of about 10¢ a ticket.
Page 13: WA’s private prison operator Serco is facing fines of up to $680,000 for a series of prisoner escapes and protocol breaches under its watch last financial year.
Page 14: WA motorists will pay an extra $109 a year in motor vehicle fees if the State Government introduces “no-fault” compulsory third--party insurance.
Business: Premier Colin Barnett has recanted his accusation that BHP Billiton and Rio Tinto are “acting in concert” but has warned the mining giants are risking thousands of WA jobs by flooding the global iron ore market.
Gresham Partners has turned to prominent corporate lawyer Michael Lishman to lead the rejuvenation of its Perth office.
Rolling the ownership of Collie’s two coal mines into one pair of hands will ensure the industry can survive, according to the State’s Energy Minister.
Chinese investors are circling prime farmland near Moora which carries environmental approval to develop one of the State’s biggest cattle feedlots.
The tit-for-tat sniping between Clive Palmer’s Mineralogy and CITIC Pacific took yet another twist yesterday when the Federal MP’s company ordered its Chinese tenant to fix its “defaults” within 90 days or lose the right to mine and use the port at the Pilbara project.