Woodside rethink on $45bn LNG
Woodside Petroleum is expected to announce it is shelving its $45 billion Browse liquefied natural gas project at James Price Point in Western Australia, after deciding the huge joint venture cannot be profitably developed as proposed. The Fin
End of carmakers inevitable
Former Ford president Jac Nasser says the demise of the struggling Australian carmaking industry appears inevitable in the face of a high dollar, high costs and excess overseas capacity. The Aus
RBA emergency fund at risk after raid
Treasurer Wayne Swan reneged on an in-principle agreement not to raid the Reserve Bank of Australia's emergency fund to deliver his now-abandoned budget surplus this year. The Fin
Clouds on Horizon as Nahan flags cuts
The future of regional power provider Horizon Power is under a cloud, with Energy Minister Mike Nahan signalling the state-owned utility was a “major issue” and that big mining companies might be asked to supplant it and provide electricity to towns in the region. The West
Heritage costs surge a bar to exploration
The West Australian government has warned that the costs of complying with Aboriginal heritage obligations have surged from 1 per cent to 10 per cent of exploration spending in the state. The Aus
Top Resources Headlines
Woodside rethink on $45bn LNG
Woodside Petroleum is expected to announce it is shelving its $45 billion Browse liquefied natural gas project at James Price Point in Western Australia, after deciding the huge joint venture cannot be profitably developed as proposed. The Fin
Heritage costs surge a bar to exploration
The West Australian government has warned that the costs of complying with Aboriginal heritage obligations have surged from 1 per cent to 10 per cent of exploration spending in the state. The Aus
Shale gas not in the pipeline for Woodside
Woodside Petroleum chief executive Peter Coleman remains unconvinced shale gas offers the sort of margins he is looking for, and would only embrace its production if Woodside could do the job better than “average”. The Fin
Demand for explosives set to boom: Orica
Orica chief Ian Smith has tipped higher mid-term demand for explosives as mine grades decline and operators are forced to dig deeper for the metals. The Aus
Top Politics Headlines
RBA emergency fund at risk after raid
Treasurer Wayne Swan reneged on an in-principle agreement not to raid the Reserve Bank of Australia's emergency fund to deliver his now-abandoned budget surplus this year. The Fin
Clouds on Horizon as Nahan flags cuts
The future of regional power provider Horizon Power is under a cloud, with Energy Minister Mike Nahan signalling the state-owned utility was a “major issue” and that big mining companies might be asked to supplant it and provide electricity to towns in the region. The West
$1bn tax hike on long-term savings
Resource and infrastructure projects are facing tax hikes that could add $1 billion a year to Labor’s long-term savings targets, despite warnings the move would put economic growth at risk. The Aus
Premier a 'dictator'
Jilted Liberal backbencher Rob Johnson yesterday launched a blistering attack on Colin Barnett and his government, declaring the Premier hates criticism, is “too dictatorial” and “above himself”. The West
MPs deny swap to safe state seats
Labor strategists are preparing for a federal election defeat by finding new jobs for MPs who could lose their seats, hoping to shift them into state politics to keep their careers alive. The Aus
Top Property Headlines
Investors await Stockland review
Investors remain divided on the future direction of Stockland, the nation's largest listed residential developer and diversified property group, ahead of its keenly awaited “no taboos” strategic review. The Fin
Time is nigh for tunnel lane change
The controversial widening of the Northbridge tunnel should be half-finished at the weekend, with the three eastbound lanes expected to be opened on Monday. The West
The West Australian
Page 1: The controversial James Price Point gas hub will today be pronounced dead, with project operator Woodside Petroleum expected to declare the $40 billion Kimberley development uneconomic.
Jilted Liberal backbencher Rob Johnson yesterday launched a blistering attack on Colin Barnett and his government, declaring the Premier hates criticism, is “too dictatorial” and “above himself”.
Page 3: Edith Cowan University has been caught up in another embarrassing rejection row after a second masters degree course had its accreditation revoked.
Page 4: There are serious doubts about what, if any, work the state government commissioned from the bureaucracy before announcing its surprise decision to re-merge government-owned electricity companies Verve and Synergy.
Page 9: The asylum-seeker boat that arrived in Geraldton this week was spotted further up the WA coast three days earlier, Kalbarri residents claimed yesterday.
Page 10: Gina Rinehart could face court within six months after a surprise move by a judge yesterday to fast-track her family's long-running legal stoush.
Page 13: Mining billionaire Andrew Forrest has shown how you do philanthropy at the big end of town: put a million bucks on the table and challenge everyone in the room to match it.
Page 17: Unemployment has jumped to its highest level in more than three years in a sign the jobs market has yet to catch up with improving parts of the economy.
Page 26: The controversial widening of the Northbridge tunnel should be half-finished at the weekend, with the three eastbound lanes expected to be opened on Monday.
Business: The future of regional power provider Horizon Power is under a cloud, with Energy Minister Mike Nahan signalling the state-owned utility was a “major issue” and that big mining companies might be asked to supplant it and provide electricity to towns in the region.
Richard Branson's Virgin Australia has completed the $99 million takeover of Skywest by appointing one of its senior executives to head the regional airline.
Glencore will sell off the Australian malting assets it acquired as part of its $6.1 billion takeover of Viterra in a deal that has major consequences for WA.
Creditors and customers owed $3 million by Beds Plus are likely to get nothing back, according to the liquidator of the collapsed chain.
BHP Billton's chairman is calling for a summit to head off a fall in Australia's international competitiveness and bring about the biggest economic reforms since the 1980s.
Extended trading hours have succeeded in changing shopping habits in WA, according to Woolworths, as well as bolstering its sales.
Decmil Group shares gained yesterday after the company said it had extended its forward order book through $71 million worth of contracts from Gina Rinehart’s Roy Hill project.
The Australian Financial Review
Page 1: Woodside Petroleum is expected to announce it is shelving its $45 billion Browse liquefied natural gas project at James Price Point in Western Australia, after deciding the huge joint venture cannot be profitably developed as proposed.
Treasurer Wayne Swan reneged on an in-principle agreement not to raid the Reserve Bank of Australia's emergency fund to deliver his now-abandoned budget surplus this year.
Jacques Nasser, who became known as 'Jac the Knife' as Ford's global CEO, believes Australia's car making industry will not survive because of a global production glut and the high currency.
Page 6: NBN Co will for the first time directly subsidise training for skilled workers needed to build the national broadband network, as it struggles to ramp up work on the vast infrastructure project.
Page 7: Australia's official labour force figures continued their roller-coaster ride in March, with employment tumbling by the most in a decade and the jobless rate hitting a three-year high of 5.6 per cent.
“Unprecedented” interest in the Coalition's budget plan has forced an upcoming address by shadow treasurer Joe Hockey to be moved from the National Press Club of Australia to the Great Hall of Parliament House.
Page 8: Prime Minister Julia Gillard opened the first meeting of the B20 group of senior Australian business leaders in Sydney on Thursday, urging them to avoid “platitudes” and to develop concrete outcomes to guide the G20 meeting of international leaders next year.
Page 9: Australian companies have expressed concern about complications arising from the use of the Chinese yuan as a trade settlement currency although they believe using the currency could help them get better prices in deals.
Page 12: The Australian Competition and Consumer Commission will investigate the Western Australian government's plan to re-merge the state's power assets.
Page 13: Woodside Petroleum chief executive Peter Coleman remains unconvinced shale gas offers the sort of margins he is looking for, and would only embrace its production if Woodside could do the job better than “average”.
Australian business leaders are resigned to the dollar remaining high and damaging industries, including auto-making, competing with imports from countries like Japan and Europe with declining currencies.
Page 16: Rio Tinto is on the Mozambique government's short-list to develop $US3 billion-plus of open access rail and port infrastructure to be used by coal miners in the African nation.
Woolworths is headed for its strongest sales growth in four years as its strategies to increase its share of the $87 billion grocery market deliver results
Woolworths chief executive Grant O'Brien has raised concerns about the impact on the dairy industry of Coles' move to bypass foreign processors by sourcing private label milk directly from farmer-owned co-operatives.
Page 34: Investors remain divided on the future direction of Stockland, the nation's largest listed residential developer and diversified property group, ahead of its keenly awaited “no taboos” strategic review.
The Australian
Page 1: Former Ford president Jac Nasser says the demise of the struggling Australian carmaking industry appears inevitable in the face of a high dollar, high costs and excess overseas capacity.
Interest rate cuts are back on the agenda after the Australian economy shed jobs rapidly last month, contradicting growing confidence among the government and the Reserve Bank that the high dollar was having less impact on jobs growth than expected.
New restrictions on what unions can seek to have included in enterprise agreements could be imposed under an Abbott government, as the Coalition seeks to reduce the bargaining capacity of unions in workplaces.
Page 3: Gina Rinehart’s two children who are fighting the billionaire for control of the family trust have applied for respected Adelaide businessman Bruce Carter to be appointed the new trustee.
Page 4: Labor strategists are preparing for a federal election defeat by finding new jobs for MPs who could lose their seats, hoping to shift them into state politics to keep their careers alive.
Page 5: About 4000 disability welfare recipients have increased their working hours beyond the old threshold of 15 hours since last July under reforms that have targeted 12,000 disabled people to boost their participation in the workforce.
Page 6: Wayne Swan’s order forcing the Reserve Bank to pay the government a $500 million dividend last year overturned his earlier agreement that the bank should use its profits to rebuild badly depleted reserves.
Resource and infrastructure projects are facing tax hikes that could add $1 billion a year to Labor’s long-term savings targets, despite warnings the move would put economic growth at risk.
Page 8: Rural groups are urging ‘‘comparable’’ broadband prices between country and city customers in a new test for the Coalition and its policy amid a political fight over internet services in the bush.
The West Australian government has warned that the costs of complying with Aboriginal heritage obligations have surged from 1 per cent to 10 per cent of exploration spending in the state.
Business: Investors are widely anticipating Woodside Petroleum will confirm it has decided to switch gears on the giant $US45 billion ($43bn) Browse LNG project and review the floating platform option preferred by key partner Shell.
Asia's financial markets are at a ‘‘tipping point’’, with the rapid internationalisation of the Chinese yuan taking regional capital markets to a new level of sophistication, ANZ Bank chief executive Mike Smith will tell a conference in Sydney today.
Woolworths will continue to target promotional activities towards value-conscious customers in a bid to extend its recent run of sales growth, warning that consumer spending remains highly sensitive to global economic conditions.
Telstra has kicked off a review of its digital media and IPTV division and flagged as many as 55 job cuts as the telco giant explores new ways to push its premium content and the resale of Foxtel pay-TV services to consumers.
NSW’S peak mining industry body has called on the state government to keep any ‘‘surprise’’ new fees out of its budget, warning that an increase in taxes will put jobs at risk and see investment go offshore.
Orica chief Ian Smith has tipped higher mid-term demand for explosives as mine grades decline and operators are forced to dig deeper for the metals.
Advanced composites firm Quickstep expects to double its Sydney workforce over the next two years after receiving its biggest order yet for F-35 Joint Strike Fighter parts.
Norton Gold expects to increase production and continue cutting costs to meet its 2013 production targets.
Fortescue Metals Group chairman Andrew Forrest hit out at the corrupting nature of government welfare on young indigenous Australians in a speech at the launch of the Salvation Army’s annual Red Shield appeal in Sydney yesterday.
Productivity has emerged as the key item on the agenda of Australia’s chairmen and chief executives, with a new survey illustrating just how significant the issue has become in the eyes of key corporate decision-makers.
The Daily Telegraph
Page 1: Unions NSW and business groups have joined forces to back a second Sydney airport at Badgerys Creek.
Page 2: A lawyer estimates almost 100,000 people will make compensation claims as part of the royal commission into child sex abuse.
Page 3: Local business owners and residents have backed the building of a second Sydney airport at Badgerys Creek.
World: North Korea has moved several missiles around the nation's east coast to confuse foreign intelligence gatherers.
Business: The labour market suffered its worst month in 10 years as more than 1000 jobs were lost every day in March.
Sport: The hottest ticket in town this weekend will be the A-League final between the Western Sydney Wanderers and Brisbane Roar.
The Sydney Morning Herald
Page 1: News Ltd boss John Hartigan says he was approached by former NSW north coast independent MP Richard Torbay about the possibility of his papers backing Mr Torbay as NSW premier. The CSIRO is unable to act in the best interests of advancing research, according to confidential reviews.
Page 2: A Game Council NSW member facing charges for illegal hunting says the state government should shelve plans to allow hunting in national parks. Rainbow flags were raised in lamentation of the destruction of a rainbow-coloured crossing in Taylor Square.
Page 3: Vitamins maker Swisse has evaded an attempt to ban an appetite suppressant product by re-labelling it.
World: The US is poised to lift non-lethal aid such as body armour and night-vision goggles to the Syrian opposition forces.
Business: The demise of the car manufacturing industry is inevitable, according to the BHP Billiton chairman.
Sport: The next 48 hours in Sydney will be all about black with the Western Sydney Wanderers, Black Caviar and Sonny Bill Williams to headline major meets this weekend.
The Age
Page 1: The South Yarra doctor who authorised blood tests for Essendon players at the request of sports scientist Stephen Dank has said it was "really weird" that he was used rather than club doctor Bruce Reid.
Page 2: In an overhaul of the state's alcohol and gaming authorities, Victoria's regions will have no dedicated liquor inspectors, a move that has enraged police and others trying to curb alcohol abuse in the country.
Page 3: High-profile vitamins company Swisse has evaded an attempt by authorities to ban its appetite suppressant product just as the group launches a push into the US featuring actor Nicole Kidman.
Page 5: The World Anti-Doping Agency, closely monitoring the unfolding drugs scandal at Essendon, could amend its rules within months so coaches who use substances prohibited under the code would incur sanctions.
World: A long-debated move by Western nations to expand support for Syria's opposition has gained momentum, with the US poised to increase its non-lethal aid to rebel groups, and pressure is building to lift a European Union arms embargo.
Business: BHP Billiton chairman Jac Nasser has urged the United States to allow energy exports from its shores, declaring that energy products should be traded globally.
Sport: The sports scientist who has levelled accusations against Essendon coach James Hird is yet to be interviewed by the Australian Sports Anti-Doping Authority and cannot be compelled to speak to the drug agency which is running the investigation into the Bombers.
The Herald Sun
Page 1: Essendon coach James Hird will reveal he received two injections from disgraced sports scientist Stephen Dank but only for health reasons.
Page 3: All home air conditioners sold in Australia would be designed to be remotely switched on and off by power companies during extreme heat, under a plan to reduce electricity bills.
Page 5: Besieged Essendon coach James Hird was aware the controversial supplements program at Windy Hill last year needed fierce scrutiny.
World: A New Zealand woman whose pit bull savaged her toddler niece has been jailed by a judge, who said he hoped the penalty sent a message to other dog owners.
Business: The labour market has suffered its worst month in a decade, with more than 1000 jobs disappearing every day in March.
Sport: James Hird has done nothing wrong by the letter of the law if he's taken an ASADA banned substance. But the Essendon coach remains vulnerable to sanction by the AFL for bringing the game into disrepute.