Chevron land deals queried
Colin Barnett encouraged Chevron to sign a property deal favourable to the Government when the resource giant sought his support for expanding its operations on environmentally sensitive Barrow Island. The West
Health centres get Poche treatment
One of Australia’s biggest philanthropists, retired transport magnate and cartel-buster Greg Poche, has given $10 million to the University of Western Australia to benefit indigenous health. The Fin
Debt battle goes down to wire
The debt ceiling stand-off is set to go down to the wire the Coalition to appeal to the Greens one last time to increase the limit from $300 billion to $500 billion when the Senate resumes in two weeks. The Fin
Report urges pole route for NBN
Rolling-out the National Broadband Network via overhead poles would be at least four to six times cheaper than the current underground method, according to a report sent to Malcolm Turnbull yesterday. The Aus
Debt wrangle risks shutdown
Treasurer Joe Hockey is facing his first Budget crisis, threatening to shut down government services because of a stand-off with Labor over an increase in Australia’s debt ceiling. The West
Healthscope: $4bn sale option
Australia’s second biggest private hospital operator, Healthscope, could return to the public markets as early as next year, with owners TPG and The Carlyle Group starting to mull sale options for the $4 billion business. The Fin
Clash of the titans: corporate kingpins call in the lawyers
Two of the heavyweights of corporate Australia could be headed for a courtroom showdown over the Leighton bribery affair, after UGL chairman Trevor Rowe launched an extraordinary public attack on former Leighton chief executive Wal King. The Aus
Wicked U-price takes toll
Paladin Energy has underscored the enormity of its battle for survival, admitting its African uranium mines lost $US14.9 million in the September quarter despite record production. The West
The Australian Financial Review
Page 1: The debt ceiling stand-off is set to go down to the wire the Coalition to appeal to the Greens one last time to increase the limit from $300 billion to $500 billion when the Senate resumes in two weeks.
One of the Labor Party’s most powerful machine-men, ALP assistant national secretary Nick Martin, has a large portion of his salary paid from a $1 million per year federal government AusAID grant, which he administers and which is designed for the promotion of democracy in developing countries.
Page 3: One of Australia’s biggest philanthropists, retired transport magnate and cartel-buster Greg Poche, has given $10 million to the University of Western Australia to benefit indigenous health.
Page 4: Labor is pessimistic about its chances of holding Kevin Rudd’s seat of Griffith in a by-election which the Coalition will be using as a de facto referendum on the carbon tax.
Page 6: Immigration Minister Scott Morrison has refused to reveal whether Australia has bought Indonesian fishing boats since the election in an effort to stop the falling into the hands of people smugglers.
Page 8: The Senate will re-open its inquiry into the proposed $3.4 billion takeover of GrainCorp by the US-based Archer Daniels Midland.
Page 9: Trade Minister Andrew Robb will make China an “attractive investment offer” to revive the flagging free-trade deal talks between the two countries.
Page 15: Australia’s second biggest private hospital operator, Healthscope, could return to the public markets as early as next year, with owners TPG and The Carlyle Group starting to mull sale options for the $4 billion business.
Page 18: Virgin Australia Holdings will offer board seats to its three major airline shareholders after they hacked a $350 million capital raising needed to bolster its balance sheet amid an ongoing battle with Qantas Airways.
Page 20: Private equity firm Anchorage Capital Partners will make a three-fold return on its 12-month investment in consumer electronics retailer Dick Smith, which expects to treble earnings in its first year as a listed company.
Page 24: Former Patrick Corporation managing director, now Qube chairman, Chris Corrigan says unions should be answerable to the same competition laws as corporations.
Page 41: National Storage is winning strong support to float Australia’s first listed self-storage trust in a $280 million vehicle which staples an operator business to a property portfolio.
The Australian
Page 1: People-smugglers are teaching asylum-seekers how to repel Customs boarding parties to prevent boats being returned to Indonesia, as the government flags a major shift in its border protection policy from maritime operations to land-based disruption in Southeast Asia.
Labor has warned the Coalition its thumping election win counts for nothing in negotiations over the debt ceiling, with the government’s attempt to raise the nation’s credit limit to $500 billion trapped in a political deadlock that could last two weeks.
Two of the heavyweights of corporate Australia could be headed for a courtroom showdown over the Leighton bribery affair, after UGL chairman Trevor Rowe launched an extraordinary public attack on former Leighton chief executive Wal King.
Page 2: Rolling-out the National Broadband Network via overhead poles would be at least four to six times cheaper than the current underground method, according to a report sent to Malcolm Turnbull yesterday.
Page 4: The Australian meat industry is surfing the crest of the China food boom wave, with beef and lamb exports tripling in the past year to an unprecedented 240,000 tonnes valued at $1 billion.
Page 5: Leaked company minutes from an executive meeting at Clive Palmer’s troubled nickel refinery disclose that management is concerned about keeping it open amid a slumping nickel price, the ongoing loss of experienced staff, ‘‘non-existent morale’’ and heightened safety fears.
Page 6: The Abbott government is pushing to arm the reinstated building watchdog with the power to police the transport of goods to construction projects, in a new move by the Coalition to try to undermine the influence of unions.
Veteran Nationals senator Ron Boswell has escalated the pressure on Tony Abbott to make changes to the Renewable Energy Target, declaring manufacturers face a ‘‘killing field’’.
Page 19: The $20 billion Arrow coal-seam gas project in Queensland has been told to sharpen its cost structure or it will not go ahead, raising further doubts about the nation’s future LNG investment.
Bega Cheese has issued a challenge to its rivals in the battle for the Warrnambool Cheese & Butter company, increasing the value of its takeover bid and launching a concerted marketing campaign to elicit acceptances.
Page 20: Sims Metal Management plans to squeeze more value out of the company’s previous acquisitions under new chief executive Galdino Claro.
The West Australian opposition has suggested there may be a link between Chevron’s $64 million Elizabeth Quay land purchase and the US company’s bid to secure more ground on Barrow Island for its Gorgon gas project.
Page 25: It must surely represent one of the most valuable pieces of undeveloped port real estate anywhere in Australia — an otherwise nondescript stretch of mangroves that stands to generate nearly $13 billion a year in revenues.
Page 32: Adelaide plaintiff firm Tindall Gask Bentley has opened an office in Perth after the Western Australian Police Union made the firm its exclusive provider of legal services.
The West Australian
Page 1: WA’s small businesses have more trouble than any others in the nation being paid and it is crippling some mum and dad enterprises.
Page 3: The State Government’s bid to sell the Kwinana Bulk Terminal to magnate Len Buckeridge has hit a hurdle, with Fremantle Ports failing to hand over crucial financial information.
Page 4: Colin Barnett encouraged Chevron to sign a property deal favourable to the Government when the resource giant sought his support for expanding its operations on environmentally sensitive Barrow Island.
Page 6: Senior Liberals believe Tony Abbott is poised to veto a multi-billion takeover of Australian wheat company GrainCorp.
Labor and Greens have traded blows over Tony Abbott’s plan to scrap the carbon tax, despite both sides being opposed to its abolition.
Page 7: Treasurer Joe Hockey is facing his first Budget crisis, threatening to shut down government services because of a stand-off with Labor over an increase in Australia’s debt ceiling.
Business: Paladin Energy has underscored the enormity of its battle for survival, admitting its African uranium mines lost $US14.9 million in the September quarter despite record production.
Institutional investors are believed to be forcing Forge Group to offer a massive discount on the share price of its emergency capital raising.
Calibre Group’s quest since June to find a new managing director was set back by months after a preferred candidate took a promotion with his existing employer.
Mirabela Nickel has provided a glimmer of hope to investors, announcing late yesterday its major creditors had agreed to waivers and standstill agreements over more than $US300 million of debt.