Harvest Joy
WA farmers have fought back from the brink of disaster to deliver the State’s biggest grain harvest and a $5 billion-plus boost for the WA economy five days from Christmas. The West
Money pours into WA coffers after spending delayed
The West Australian government will collect $1.2 billion more in revenue than it expected before making big ticket commitments in the March election that are being cut or delayed, an analysis of financial documents shows. The Fin
Coalition to cull Labor FoFA reforms
The Coalition will seek to overturn virtually all of the former Labor government’s reforms to the financial planning industry in the wake of the Storm Financial collapse, in spite of concerns it will leave small investors open to similar problems in the future. The Fin
UBS edges out Macquarie and JPMorgan for best bank of the year
UBS has edged out rivals Macquarie and JPMorgan to be voted best investment bank by a survey of corporate clients across the nation, as the appetite for deal making picks up. The Aus
M&R’s well-timed plan to buy Clough
In August 2012 the board of South Africa’s Murray & Roberts made the call. The time to deal with its majority owned Perth-based engineering firm Clough had finally dawned. The Fin
SPC cash would come with tough conditions
SPC Ardmona employs about 1000 people at its Shepparton processing centre in northern Victoria but is struggling to compete against cheap imports as a result of the high Australian dollar and the rise of home-brand products at Coles and Woolworths. The Aus
Empire calls in forensic help
The new broom at Empire Oil & Gas has hired forensic accountants from PwC as it combs through its audited financial accounts as part of a sweeping review of the Perth company. The West
The Australian Financial Review
Page 1: US Federal Reserve chairman Ben Bernanke’s decision to reduce monetary stimulus from January unleashed a burst of optimism on global markets and is expected to help Australian exporters and manufacturers by sending the Australian dollar downwards.
The Coalition will seek to overturn virtually all of the former Labor government’s reforms to the financial planning industry in the wake of the Storm Financial collapse, in spite of concerns it will leave small investors open to similar problems in the future.
Page 4: The West Australian government will collect $1.2 billion more in revenue than it expected before making big ticket commitments in the March election that are being cut or delayed, an analysis of financial documents shows.
An academic, a former investment banker, a life insurance and super executive, and a senior corporate executive will join David Murray on the panel of the Abbott government’s inquiry into the nation’s financial system.
A new specialist-vehicle manufacturer could take over General Motors Holden’s Adelaide factory when the American automotive giant leaves the country in 2017 if the dollar settles below $US0.88 for an extended time, says former federal Industry Minister Greg Combet.
Page 8: Tony Abbott’s China moment has arrived. Less than four months after taking office, the Prime Minister finds himself in an awkward position with Australia’s biggest trading partner.
Page 10: A sample of private schools show tuition fees for year 12 students increasing between 4 per cent and 6 per cent in 2014, compared with 2013.
Page 38: In August 2012 the board of South Africa’s Murray & Roberts made the call. The time to deal with its majority owned Perth-based engineering firm Clough had finally dawned.
The Australian
Page 1: SPC Ardmona employs about 1000 people at its Shepparton processing centre in northern Victoria but is struggling to compete against cheap imports as a result of the high Australian dollar and the rise of home-brand products at Coles and Woolworths.
Page 2: The Abbott government has at least $715 million that it could put towards rebuilding the manufacturing sector, with former Labor minister Greg Combet indicating that he will be lobbying for at least some of that money on behalf of the South Australian government.
The electricity industry has backed reform of the Renewable Energy Target, arguing that market conditions have changed since the laws establishing the fund were set up nearly five years ago.
Page 4: Former foreign minister Alexander Downer has cautioned East Timor it risks damaging its international reputation as it initiates a new legal action alleging that recent seizures conducted by Australian intelligence authorities represented a violation of its sovereignty.
Page 15: National Australia Bank chairman Michael Chaney, one of Australia’s leading business figures, has painted a subdued outlook for the economy, highlighting patchy business confidence while defending the bank’s performance against shareholder critics.
UBS has edged out rivals Macquarie and JPMorgan to be voted best investment bank by a survey of corporate clients across the nation, as the appetite for deal making picks up.
Engineering group WorleyParsons has become the latest company to find itself on the receiving end of a legal action from solicitor Mark Elliott, accused of failing to comply with its continuous disclosure obligations.
Incitec Pivot has become the first of the big industrial gas consumers to lift the lid on the explosive increase in eastern state gas prices as the market responds to the $70 billion in LNG export gas projects being built at Gladstone in Queensland.
Page 17: The former Labor government’s carbon tax added as much as 12 per cent to electricity bills in its first year of operation, according to the national energy regulator.
Troubled agribusiness company Elders plans to cut boardroom pay as it looks to rebuild the board to suit its new purpose as a focused rural services business.
Page 19: Cover-more lost nearly 12 per cent of its value in its first day of trade on the Australian Securities Exchange yesterday in a disappointing debut for the travel insurance provider that was floated at $635 million.
Santos is hailing a major breakthrough in its efforts to prove the shale gas possibilities of the Cooper Basin, with its latest shale gas well pointing to a ‘‘potentially material’’ extension of its Moomba North gas field.
The West Australian
Page 1: WA farmers have fought back from the brink of disaster to deliver the State’s biggest grain harvest and a $5 billion-plus boost for the WA economy five days from Christmas.
Page 3: The Perth International golf tournament has had an unexpected boost with Emirates naming it one of 10 new tournaments around the world it will sponsor from next year.
Page 6: A 12km underground rail tunnel from Bayswater to Forrestfield floated by Treasurer Troy Buswell yesterday has been described as nothing more than a thought bubble and a distraction.
Page 7: Perth’s congestion woes are set to rival Bangkok’s by 2020, with more than a million more cars expected on our roads and no significant public transport projects completed.
Page 13: Australian shoppers are tipped to spend more than $15 billion in this year’s post-Christmas sales.
Business: The new broom at Empire Oil & Gas has hired forensic accountants from PwC as it combs through its audited financial accounts as part of a sweeping review of the Perth company.
Backed by the likes of Mike Fitzpatrick and Dale Alcock, Carnegie Wave Energy yesterday moved a decisive step towards delivering on its goal of delivering renewable energy to the Australian Navy’s Garden Island base.
Contractors have given African iron ore hopeful Sundance Resources a range of port and rail infrastructure options for its Mbalam project, says managing director Giulio Casello, who yesterday confirmed all of the bids had offered a funding solution for the $4 billion development.
West Africa gold miner Resolute Mining has found another $US28 million ($31.6 million) in savings in the development of its Syama expansion project as it moves to reassure investors its capital expenditure plans are coming in well under budget.
BHP Billiton is pursuing a multimillion-dollar counterclaim against contractor VDM Group in a dispute over a Pilbara iron ore project.
China’s Baosteel has added weight to suggestions interest in Australia’s emerging coking coal players is heating up, snapping up another 19 million shares in Aquila and extending its holding in the WA company to about 19.8 per cent.
