Palmer’s CITIC battle ‘endangers 3000 jobs’
Palmer’s CITIC battle ‘endangers 3000 jobs’
West Australian Premier Mark McGowan has launched an attack on Clive Palmer, threatening to alter a key contract in the hope of solving the latest dispute between the Queensland businessman and Chinese giant CITIC. The Aus
Budget on track for back to black
The State Budget is rapidly improving and is within striking distance of a surplus, with figures revealing a lift in revenue delivering a windfall to Treasurer Ben Wyatt. The West
Investors exit Lendlease $5bn retail fund
Lendlease’s property funds unit may seek new strategic investors for its flagship Australian shopping centre fund that controls a $5.7 billion portfolio of some of the country’s best malls after receiving substantial redemption requests. The Aus
RCR administrators get funds
The administrators of RCR Tomlinson have obtained financing to keep the engineering company operating while reporting strong buyer interest for its businesses. The West
APRA vows to ‘ratchet up the mongrel’
The prudential regulator’s chairman, Wayne Byres, has admitted he should have pursued the scandal-prone Commonwealth Bank harder over its sky-high executive pay two years ago, as his predecessor called for the agency to dial up its “mongrel”. The Aus
Amazon cuts Woolies, Coles lunch
Amazon has launched an assault on Australia’s $100 billion food and grocery market, prompting complaints from Woolworths that multinational suppliers are favouring the e-commerce giant with cheaper prices on brands such as Colgate, Huggies, Omo and Finish. The Fin
Labor heat over Adani green light
State and federal Labor leaders have refused to back Adani’s $2 billion Queensland Carmichael mine after the Indian company said it would fund the project itself, with construction planned to begin before Christmas. The Fin
The Australian Financial Review
Page 1: State and federal Labor leaders have refused to back Adani’s $2 billion Queensland Carmichael mine after the Indian company said it would fund the project itself, with construction planned to begin before Christmas.
Amazon has launched an assault on Australia’s $100 billion food and grocery market, prompting complaints from Woolworths that multinational suppliers are favouring the e-commerce giant with cheaper prices on brands such as Colgate, Huggies, Omo and Finish.
Page 4: The swelling ranks of crossbenchers are starting to flex their muscle, taking the unusual step of abstaining on a procedural vote the government narrowly won and issuing a lift of progressive demands to test Scott Morrison’s resolve and peel off disaffected Coalition MPs.
Page 6: Business investment dipped in recent months to weigh down short-term economic growth, but firms are expecting to unleash strong capital expenditure for the remainder of this financial year.
Small business would find it easier and cheaper to settle fights with the Australian Taxation Office through access to an independent appeal organisation to help quickly resolve disputes, under a policy unveiled by the Morrison government.
Union membership has continued to decline as a proportion of the workforce, falling below 15 per cent for the first time.
Page 13: Australia is on track to reach 50 per cent renewable energy by 2030, an energy consultancy says, even if new installations of wind and solar energy drop to just a third of the present rate.
Page 19: Poker machine maker Aristocrat Leisure will plough $100 million into acquiring users across its booming digital business in the next 12 months, with chief executive Trevor Croker declaring he will not shy away from investing in marketing, design and development in a highly competitive market.
Page 23: RCR Tomlinson administrators McGrathNicol have been approached by some 200 groups willing to buy all or part of the engineering company as it moves ahead quickly with a sale process.
The Australian
Page 1: The prudential regulator’s chairman, Wayne Byres, has admitted he should have pursued the scandal-prone Commonwealth Bank harder over its sky-high executive pay two years ago, as his predecessor called for the agency to dial up its “mongrel”.
Page 3: West Australian Premier Mark McGowan has launched an attack on Clive Palmer, threatening to alter a key contract in the hope of solving the latest dispute between the Queensland businessman and Chinese giant CITIC.
Page 21: Australia’s biggest online book store, Booktopia, has offered its shares to everyday Australians, raising $10 million in what is likely to be the country’s largest-ever crowd-funded equity raising.
Page 22: Myer’s biggest investor, rebel shareholder Solomon Lew, is set to appear at the department store’s annual general meeting in Melbourne this morning to face off against Myer chairman Gary Hounsell and rally shareholder support for a spill of the Myer board.
Page 25: Lendlease’s property funds unit may seek new strategic investors for its flagship Australian shopping centre fund that controls a $5.7 billion portfolio of some of the country’s best malls after receiving substantial redemption requests.
Page 26: More class actions have been filed in the past two years than ever before and corporate Australia has been the main target.
The West Australian
Page 11: WA’s Corruption Commissioner John McKechnie has backed calls to create a Federal-anti corruption body, urging that the watchdog be given powers to pursue politicians.
Page 14: The State Budget is rapidly improving and is within striking distance of a surplus, with figures revealing a lift in revenue delivering a windfall to Treasurer Ben Wyatt.
Page 18: The Federal Government is set to hand over the first of 21 WA-built patrol boats constructed as gifts for Australia’s near neighbours, with Papua New Guinea to take control of the first vessel at a ceremony today.
Business: The Australian Livestock Exporters Council has thrown its support behind probes into the seaworthiness of a WA exporter’s livestock ship that had to unload 4000 dairy heifers at a port in Victoria this week.
The administrators of RCR Tomlinson have obtained financing to keep the engineering company operating while reporting strong buyer interest for its businesses.
Politicians who cut funding for regulators are also to blame for the scandals that have engulfed the banking industry, Bendigo and Adelaide Bank chairman Robert Johanson says.
