Santos takes Quadrant to court over Spar field
Santos has taken joint venture partner Quadrant Energy to the Supreme Court to challenge ownership of one of the key assets that underpinned the latter’s private equity-backed $US2.1 billion ($2.8 billion) purchase of Apache’s WA oil and gas business. The West
Atlas founder keeps faith as raising looms
Atlas Iron founder David Flanagan insists the struggling iron ore miner can come back from the brink of collapse to pull off a $180 million capital raising in the next week, despite the iron ore price plunging back down towards $US50 a tonne. The Fin
Rates outlook sparks $30bn lift
Australian investors looked through China’s sharemarket rout and Europe’s economic fractures to drive local stocks more than $30 billion higher, marking the biggest one-day gain in more than five months. The Aus
Minnows hit back against BHP, Rio
Australia’s struggling iron ore juniors are hitting back over the brave new normal in prices that threatens to crush their businesses by running push polling in the heartland of Western Australia against BHP Billiton and Rio Tinto. The Fin
Westpac wants 20pc deposits from investors
Australia’s biggest lender to landlords, Westpac Banking Corp, will require new property investors to have a deposit of at least 20 per cent – a sign banks are bending to regulatory pressure to help dampen the booming housing market. The Fin
Robb shrugs off Labor calls to review IP before trade pact
Trade Minister Andrew Robb has dismissed Labor calls for a review of intellectual property rights before the government signs up to the US-led Trans-Pacific Partnership accusing the opposition of ‘‘playing politics’’ with Australia’s economic prosperity. The Fin
Tourists wanted for new hotels
The State Government is on track to smash its target of 1900 new hotel rooms in Perth by 2020, with billions of dollars earmarked for dozens of projects over the next three years. The West
The Australian Financial Review
Page 1: Australians’ purchasing power will deteriorate rapidly within two years to levels last seen in the 1990s, according to research that one prominent economist says highlights the need for a fresh wave of growth-enhancing policy reform.
Australia’s biggest lender to landlords, Westpac Banking Corp, will require new property investors to have a deposit of at least 20 per cent – a sign banks are bending to regulatory pressure to help dampen the booming housing market.
Page 5: Acting Treasurer Bruce Billson has declined a Productivity Commission call to review superannuation and pensions, while an expert adviser to the Henry review said the agency’s proposals were exactly what was needed.
Page 7: The Abbott government has announced new rules requiring all super funds have a minimum of one-third independent directors on their trustee boards and an independent chair from 1 July 2016.
Page 9: Education Minister Christopher Pyne has appointed Dr Ian Watt, former secretary of the Department of Prime Minister and Cabinet, to review university research aimed at ‘‘boosting commercial returns’’.
Page 10: Trade Minister Andrew Robb has dismissed Labor calls for a review of intellectual property rights before the government signs up to the US-led Trans-Pacific Partnership accusing the opposition of ‘‘playing politics’’ with Australia’s economic prosperity.
Page 15: A surprisingly strong recovery rally on the Australian sharemarket showed that investors had overestimated the impact of the Greek debt crisis, according to a leading fund manager.
Atlas Iron founder David Flanagan insists the struggling iron ore miner can come back from the brink of collapse to pull off a $180 million capital raising in the next week, despite the iron ore price plunging back down towards $US50 a tonne.
Page 17: Australia’s struggling iron ore juniors are hitting back over the brave new normal in prices that threatens to crush their businesses by running push polling in the heartland of Western Australia against BHP Billiton and Rio Tinto.
Page 21: Crown Resorts’ earnings are tipped to fall by up to 6 per cent, with weakness in its Macau, London and CrownBet businesses outweighing strong growth at its Crown Melbourne casino.
The Australian
Page 2: The Civil Aviation Safety Authority promised charter aircraft operators an exemption from having to install a cripplingly expensive new air navigation system, but backed down after Airservices Australia reversed its position and insisted on no such breaks.
Page 7: The Minerals Council of Australia has dismissed critics of free-trade agreements, including unions and civil society groups, arguing that deals struck between Australia and other countries have brought substantial benefits.
Page 19: Australian investors looked through China’s sharemarket rout and Europe’s economic fractures to drive local stocks more than $30 billion higher, marking the biggest one-day gain in more than five months.
Resources giant BHP Billiton has urged against quarantining domestic gas on the east coast of Australia to allay fears of rising prices, warning that restrictions on supply impede investment.
Page 21: More research is needed to help older Australians stay in work before there is any move to lift the preservation age for superannuation, said Tom Garcia, chief executive of the Australian Institute of Superannuation Trustees.
The West Australian
Page 4: A confident Bill Shorten says he will “relish” testifying at the royal commission into trade union corruption today as his leadership faces its toughest test.
Page 5: The new Midland public hospital says it will employ more Aboriginal health staff, including doctors and nurses, in its emergency department to better cater for the needs of the region.
Page 15: The State Government is on track to smash its target of 1900 new hotel rooms in Perth by 2020, with billions of dollars earmarked for dozens of projects over the next three years.
Business: Santos has taken joint venture partner Quadrant Energy to the Supreme Court to challenge ownership of one of the key assets that underpinned the latter’s private equity-backed $US2.1 billion ($2.8 billion) purchase of Apache’s WA oil and gas business.
Kimberley Diamonds sold off vehicles, plant and other equipment from its collapsed Ellendale diamond operation only weeks ahead of declaring its operating subsidiary insolvent and calling in administrators.
Fewer Australians are playing the stock market but they are becoming more sophisticated in their investment choices, according to the Australian Securities Exchange’s latest share ownership survey.
Saracen Mineral Holdings has set a record after closing out the year with output of 167,531 ounces from its Carosue Dam gold mine in the Goldfields.
Local lamb and mutton co-operative WAMMCO has praised its members for boosting productivity at a time of soaring prices in the livestock industry.
The Town of Port Hedland has confirmed it is looking to bank an upfront payment of more than $150 million if it pursues plans to lease its airport.