Cut mining red tape while prices are down: Rinehart
The crash in commodity prices has stirred billionaire iron ore magnate Gina Rinehart to renew her call for the federal and state governments to act decisively on overregulation of the resources industry. The Aus
Minister under fire over meeting with consul-general
Premier Colin Barnett has widened a review of Dean Nalder’s business interests to examine whether the minister misused his position by accompanying his business partner in a $10 million property company to a meeting with the Chinese consul-general in Perth. The West
China group in Ord River land buy bid
A Chinese company has confirmed it wants to buy land in the Ord River area, triggering concerns in Canberra about foreign ownership of farmland. The West
Rio pushes for nuclear power in energy debate
Mining giant Rio Tinto has declared that nuclear energy should not be “summarily precluded” from Australia’s future energy mix. The Aus
Chinese gas sales a boost for Sino
Sino Gas Energy, the Perth-based company targeting tight gas in China, has begun production at its Ordos Basin operations in Shanxi province, and started selling gas to Chinese buyers. The Aus
PM prays for iron ore rebound
Prime Minister Tony Abbott has pinned his budget hopes on a rebound in plunging commodity prices, saying the downturn was cyclical and it would be wrong to search for new savings to chase the revenue lost through declining terms of trade. The Fin
Metcash warns on profit growth
Metcash has warned that a turnaround plan aimed at securing the future of the independent grocery sector by cutting prices and improving stores may not deliver profit growth until 2017. The Fin
The Australian Financial Review
Page 1: Prime Minister Tony Abbott has pinned his budget hopes on a rebound in plunging commodity prices, saying the downturn was cyclical and it would be wrong to search for new savings to chase the revenue lost through declining terms of trade.
Falling iron ore prices, stagnant wages and weak profits are prolonging two years of deterioration in the main driver of Australians’ living standards.
Page 3: Australian Securities and Investments Commission chairman Greg Medcraft said the regulator was now using about 20 per cent of its resources chasing down interest-rate rigging, and the problem was only going to get bigger.
Page 11: Metcash has warned that a turnaround plan aimed at securing the future of the independent grocery sector by cutting prices and improving stores may not deliver profit growth until 2017.
Page 13: Myer and David Jones stand to lose hundreds of millions of dollars in high margin beauty and cosmetics sales over the next five years after the arrival of the world’s largest beauty retailer, Sephora.
Page 14: Mineral Resources managing director Chris Ellison says the state environmental watchdog’s decision to dismiss his company’s proposal for a new iron ore mine without assessing it is “disappointing” and “inappropriate”.
Page 19: Commonwealth Bank of Australia has invested $5 million in a world-leading push by Australian technology researchers to build the first silicon-based quantum computer, in a project that promises to change the face of modern technology.
The Australian
Page 1: More than $30 billion was wiped from the value of the Australian sharemarket yesterday as investors continued to be shaken by a global collapse in commodity prices.
Page 2: Petrol prices in Australia have fallen in the past week and are set to keep on dropping, but not to the same extent as world oil prices.
Indigenous academic Marcia Langton says the Abbott government is failing Aboriginal people by refusing to endorse a new tax-exempt future fund under which native title payments could be spent on business and economic development in impoverished communities.
Page 4: Tony Abbott has taken control of the Senate negotiations over his budget agenda as he vows to decide his $5 billion university reform “one way or another” this week despite warnings it will be rejected by the upper house.
Page 5: The pressure of doubling the nation’s disability workforce to service the national disability insurance scheme has prompted the agency responsible for its delivery to relax strict care provider registration requirements, signalling a move to a more unregulated market.
Page 19: Mining giant Rio Tinto has declared that nuclear energy should not be “summarily precluded” from Australia’s future energy mix.
BHP Billiton’s share price and future plans are being hit by what just three months ago was still its strong point against rival Rio Tinto — its exposure to oil through its Houston-based petroleum business.
Page 20: The crash in commodity prices has stirred billionaire iron ore magnate Gina Rinehart to renew her call for the federal and state governments to act decisively on overregulation of the resources industry.
Sino Gas Energy, the Perth-based company targeting tight gas in China, has begun production at its Ordos Basin operations in Shanxi province, and started selling gas to Chinese buyers.
Page 22: Qantas shares continued their oil-fuelled rise yesterday to break through the $2 barrier for the first time in more than three years as analysts continued to upgrade their expectations.
The West Australian
Page 1: Premier Colin Barnett has widened a review of Dean Nalder’s business interests to examine whether the minister misused his position by accompanying his business partner in a $10 million property company to a meeting with the Chinese consul-general in Perth.
Page 3: The WACA Ground will open to the public tomorrow for a live broadcast of Phillip Hughes’ funeral from his home town of Macksville in New South Wales.
Page 5: Clive Palmer has launched a tirade against journalists and refused to answer questions over allegations he siphoned $12 million from his estranged Chinese business partner.
Page 13: University of WA students will get credit towards their academic record for community service work at a new citizenship centre that will match volunteers with organisations that need them.
Page 14: WA’s environment watchdog has set itself up for a showdown with one of the State’s richest men after rejecting his plans for an iron ore mine in a part of the Goldfields it had promised to protect.
Page 17: A Chinese company has confirmed it wants to buy land in the Ord River area, triggering concerns in Canberra about foreign ownership of farmland.
Business: The owner of WA’s biggest reticulated gas network has savaged cuts to its proposed spending plan by the economic watchdog, saying they could make it impossible for thousands of households to get gas connections.
Oil’s sudden and spectacular collapse has sparked market chatter that Apache’s proposed exit from Australia could yet hit a snag.
Amid a collapse in global oil prices, Maurice Brand’s Liquefied Natural Gas has finalised terms of a construction contract for its Magnolia LNG export operation on the shores of the Gulf of Mexico.
Size obviously does not matter to Orbital Corporation, which is targeting German corporate giants Daimler and Robert Bosch with legal action in the US.