Case for Forge court action
The chances of Forge Group facing class actions from shareholders have strengthened after the engineering firm admitted management became aware of project problems a month before they were revealed. The West
Westfield’s split ‘to help investors’
Westfield chairman Frank Lowy has defended a dramatic restructure of its $65.8 billion shopping centre empire involving the split of its Australasian and international businesses as a move that offers stronger growth and improved returns for shareholders. The Aus
Debt ceiling scrapped in Greens deal
The Senate will abolish the debt ceiling this week after the government cut a deal with the Greens and agreed to adopt measures enabling greater public scrutiny of the nation’s debt level in return for no legislated controls on spending. The Fin
Lost WA Senate votes won't be found: Keelty
Mick Keelty has told the Australian Electoral Commission that the missing 1370 votes from the botched WA Senate count are unlikely to be found. The West
Palmer fails to stop Citic ore
Hong Kong-listed, China-owned Citic Pacific has won a legal argument that allows it to export magnetite ore from the Sino Iron project in Western Australia without having to immediately compensate business partner Clive Palmer for sales of the key steel making ingredient. The Fin
Abbott: Be patient on reform
Prime Minister Tony Abbott has told business it will have to wait for major reform, while Treasurer Joe Hockey suggested infrastructure spending will stimulate the non-mining sectors as the economy continues to be stuck in slow growth. The Fin
Call for Taylor to resign over grain site plan
The shock waves over the rejected Archer Daniels Midland bid for GrainCorp have spread to the political sphere with demands for the resignation of GrainCorp chairman Don Taylor, and Labor MPs calling for agricultural reform. The Fin
Harvey Beef still up for grabs
The battle to secure Harvey Beef appears far from over amid speculation a Japanese company's failure to strike a deal after weeks of crunching the numbers has sparked renewed interest from WA-based Craig Mostyn Group. The West
Remote welfare ‘deters success’
Funding for job and training agencies servicing unemployed Aborigines should be tied to success rates, reducing the welfare ‘‘gravy train’’, says Andrew Forrest, the head of Tony Abbott’s indigenous jobs review. The Aus
The Australian Financial Review
Page 1: Prime Minister Tony Abbott has told business it will have to wait for major reform, while Treasurer Joe Hockey suggested infrastructure spending will stimulate the non-mining sectors as the economy continues to be stuck in slow growth.
Frank Lowy’s latest carve-up of his Westfield empire has split investors.
Page 5: The Senate will abolish the debt ceiling this week after the government cut a deal with the Greensand agreed to adopt measures enabling greater public scrutiny of the nation’s debt level in return for no legislated controls on spending.
Page 7: The federal Coalition’s plan to abolish the Clean Energy Finance Corporation as part of the repeal of the carbon tax is under threat from senators Nick Xenophon and John Madigan , who declared they will vote to retain the body.
Page 8: The shock waves over the rejected Archer Daniels Midland bid for GrainCorp have spread to the political sphere with demands for the resignation of GrainCorp chairman Don Taylor , and LaborMPs calling for agricultural reform.
East Timor’s prime minister Xanana Gusmão has condemned Australia’s raid on the premises of a former spy and a lawyer acting for East Timor in a legal dispute with Australia.
Page 10: One of Australia’s most powerful media companies, News Corp , is suggesting the ABC should stop expanding its news and entertainment services into new areas that have been targeted by the private sector.
Page 11: Hong Kong-listed, China-owned Citic Pacific has won a legal argument that allows it to export magnetite ore from the Sino Iron project in Western Australia without having to immediately compensate business partner Clive Palmer for sales of the key steel making ingredient.
Page 15: Transfield Services has made up to 20 people redundant from its senior ranks over the past fortnight, as the contractor seeks to lower costs and better manage its debt commitments.
Page 17: TPG Telecom chief executive David Teoh has defended the company’s plans to roll out its own residential fibre network to 500,000 apartments, saying it would have little impact on the financial viability of its government funded rival, the national broadband network.
Page 18: Qantas Airways would not be in its current state of financial stress if it were better managed and offered the public a decent service, said Virgin Australia founder Richard Branson.
Santos has gone some way to quelling investor doubts over progress on its biggest project, the $US18.5 billion ($20.4billion)Gladstone liquefied natural gas venture in Queensland, and talked up its production growth outlook despite a stumble in the short term.
There’s no such thing as sitting on the sidelines when it comes to the heated battle for control ofWarrnambool Cheese & Butter .
The Australian
Page 1: More than 15,000 secret Australian intelligence reports may have been stolen by rogue US National Security Agency contractor Edward Snowden in what the Coalition government is now describing as the most damaging blow dealt to Australian intelligence in the nation’s history.
Page 2: Funding for job and training agencies servicing unemployed Aborigines should be tied to success rates, reducing the welfare ‘‘gravy train’’, says Andrew Forrest, the head of Tony Abbott’s indigenous jobs review.
Page 4: Chinese telecommunications giant Huawei has strengthened its ties with the British government and is expected to be soon given the green light for a new Britain based cyber security evaluation centre, despite ongoing bans and security concerns in Australia and the US.
A Supreme Court judge has slammed a stunning backflip by Clive Palmer’s legal team and rejected a bid for a trial to begin in nine business days as ‘‘absurd’’, all but scuttling the new federal MP’s plan to secure further royalties from Citic Pacific’s iron ore project before the end of the year.
Page 6: Tony Abbott has launched the biggest competition policy review in two decades and used a speech to the Business Council of Australia to unveil a Prime Minister’s business advisory council containing some of the nation’s leading corporate figures.
Page 19: Westfield chairman Frank Lowy has defended a dramatic restructure of its $65.8 billion shopping centre empire involving the split of its Australasian and international businesses as a move that offers stronger growth and improved returns for shareholders.
Page 20: Santos has taken away some of the concerns about near-term production downgrades with an upbeat assessment of onshore and offshore exploration ground with potential to supply export and domestic markets.
The West Australian
Page 3: Police claim they have been forced to take stress leave and reduced to tears by the “bullying and intimidation” tactics of WA's powerful corruption watchdog, sparking fresh tension between the crime-fighting agencies.
Page 4: Mick Keelty has told the Australian Electoral Commission that the missing 1370 votes from the botched WA Senate count are unlikely to be found.
WA Liberal Don Randall has quit a powerful parliamentary committee charged with overseeing Federal politician's behaviour almost as soon as he was appointed.
Treasurer Joe Hockey's hopes to turn around the budget have taken a hit with the Australian economy slowing and generating less tax to fill Canberra's coffers.
Page 6: Weekend markets, a water playground and wave pool may be on the horizon at Scarborough Beach to transform it into WA's premier beachfront destination.
Nationals leader Terry Redman would hand his portfolios to his new deputy, Mia Davies, and take on former leader Brendon Grylls' portfolios under a “minimal change” scenario Mr Redman has put to Colin Barnett who will soon reshuffle his cabinet.
More than 400 disability services workers rallied on the steps of state Parliament against the scaling back of public disability accommodation in WA yesterday, claiming people with disabilities will be worse off under the Barnett government's new system.
Treasurer Troy Buswell's budget bottom line is set for $200 million-plus boost next year after the Barnet government won a favourable ruling from federal Treasurer Joe Hockey on how the Commonwealth will treat WA's revenue from iron ore fines.
Page 7: Colin Barnett says politicians have “fallen into the trap” of being “too specific” about election promises before they are in possession of all the relevant information.
Page 9: West Coast has been named one of Australia's most valuable sports brands and Eagles boss Trevor Nisbett says the club has worked hard to move on from its drug scandal and engage with the community.
Page 10: A furious debate about overtime hours has erupted with unions urging workers to divert work calls and emails to their boss while on leave.
Page 11: The state government has defended commissioning 20,000 mock Royalties for Regions passports for children as part of promotions at the past two Perth Royal Shows that cost taxpayers $180,000.
Page 17: Virgin Group founder Sir Richard Branson has lashed Qantas on his blog, arguing that if the Australian icon was better managed and “offering decent service it wouldn't be in the financial mess it now claims it is in”.
Page 20: No longer content for its urban centres to be overlooked and overshadowed by invigorated Central Perth, the City of Vincent has launched an initiative to breathe new life into its most popular districts.
Page 22: Cash-strapped WA farmers will not be allowed to use money from a $50 million federal government financial support package to buy fodder or chemicals to help put in a crop.
Page 23: A contract worker died yesterday at the Telfer gold mine in the Pilbara.
Business: The chances of Forge Group facing class actions from shareholders have strengthened after the engineering firm admitted management became aware of project problems a month before they were revealed.
Days out from a deadline for suitors to lodge bids for its Kanowna gold project, Canadian giant Barrick Gold has reported “quite a lot of interest” in the asset as well as in the Plutonic mine, which is also up for sale.
Coles managing director Ian McLeod has hinted the supermarket giants and the competition watchdog are closing in on a deal over petrol discount dockets.
Michael Kiernan's comeback to the Australian market is gathering pace, through a proposed backdoor listing of Asia Minerals Corp.
Buru Energy has submitted an environmental plan to the state government seeking permission to begin its pilot gas fraccing program in the Kimberley.
The battle to secure Harvey Beef appears far from over amid speculation a Japanese company's failure to strike a deal after weeks of crunching the numbers has sparked renewed interest from WA-based Craig Mostyn Group.
Clive Palmer has flagged new efforts to try to kick CITIC Pacific off the multi billion-dollar Sino Iron magnetite project over a running royalty payment dispute.
Energy Minister Mike Nahan has signalled concerns about the cost of a scheme in which big energy users are paid to wind back their consumption at peak demand periods to relieve strain on the grid.