07/01/2014 - 05:46

Morning Headlines

07/01/2014 - 05:46


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Morning Headlines

Pilbara perks in the firing line as resources boom cools

The West Australian government is under pressure to ease lucrative entitlements offered to Pilbara workers, which are costing taxpayers more than $1 million a week. The Fin

Barrow expansion approved

A proposal by Chevron to expand its operations on Barrow Island — which the State Opposition claimed was linked to a property deal signed between the State Government and the resources giant — has been endorsed by WA’s environmental watchdog. The West

Metaliko scoops Bronzewing

The new year has begun with a surprise deal in the hard-hit gold sector, with a $1 million listed tiddler to take a run at reviving the fortunes of the historic Bronzewing gold mine in the Goldfields. The West

Decision on Alcoa’s Point Henry due in March

US aluminium giant Alcoa will reportedly complete a formal review of its Point Henry smelter in March, which will decide the future of the facility and its 500 employees. The Fin

BP, Shell assets on the block

Australia’s $50 billion petrol industry is set for its biggest shake-up in decades, with Royal Dutch Shell and BP considering the sale of refineries and petrol stations to free up cash for core businesses. The Fin

No penalty for carbon polluters

Companies will not be punished if they fail to meet their carbon emissions targets under the Coalition's Direct Action plan. The Aus

Kiwi gains as US growth slows

The New Zealand dollar advanced after weaker-than-expected economic data in the US tempered expectations over how fast the Federal Reserve may start unwinding its monetary stimulus programme. The Aus

The West Australian

Page 1: Serco, the private firm that runs WA’s prison transport service, faces a $200,000 penalty for the escape of two prisoners who were on the run for 36 hours and sparked a massive police manhunt at the weekend.

Page 24:The dithering between Woodside Petroleum and partners in the Leviathan field over a long-awaited farm-in deal has not slowed efforts by the consortium to sign up customers, with a Palestine power company confirmed as first buyer of gas from Israel’s biggest-ever discovery.

Page 49: A storm is brewing over the $US29 billion ($32.4 billion) Wheatstone LNG project after the Shire of Ashburton raised safety concerns with Chevron’s use of a former BHP Billiton construction camp.

Page 49: The Australian Securities Exchange has kicked off the year in a combative mood, sending out a string of “please explain” letters to WA companies with tardy disclosure practices.

Page 49: Co-operative Bulk Handling’s push for a long-term network access deal with Brookfield Rail could suffer a setback after both sides gave the State’s economic regulator more time to consider public submissions on Brookfield’s proposed charges.

Page 50: Evidence of slack domestic growth and the impact of surging borrowing costs on Chinese growth momentum yesterday dragged the Australian sharemarket into the red.


The Australian Financial Review

Page 3: Convictions for white-collar crimes will get harsher as judges meet community expectations on punishments, says Victoria’s Chief Justice Marilyn Warren.

Page 5: The federal government has insisted it has no plans to privitise Australia Post, after a community and political outcry on Monday forced the Australian Competition and Consumer Commission chairman Rod Sims urged the sale of remaining government assets to improve national productivity.

Page 5: Australians bought fewer locally manufactured cars as a share of total sales than ever before last year, highlighting the extent of the collapse of the country’s car industry.

Page 11: Deutsche Bank’s head of corporate banking and securities, Robert Rankin, has warned that investment banks will rack up more fines and penalties this year for misconduct, but claims the industry has curbed the behavior that led to the global financial crisis after engaging in a long process of cultural reform.

Page 23: Media Super has hit back at the securities regulator after being slapped with a $10,000 fine for publishing incorrect information on its website.


The Australian

Page 13: More than 500 workers at Alcoa's smelter at Geelong will find out if the plant will close when a review is completed in March.

Page 13: Dexus and its Canadian partner appear to have won the battle for the $4 billion Commonwealth Property Office Fund (CPA).

Page 13: Goldman Sachs has changed its previous bearish view on the outlook for the Chinese economy.

Page 15: The majority of Australian businesses are more upbeat about growth in 2014 than they were last year, with business expectations rising to a one-year high.

Page 15: United Dairy Power, the nation's largest privately owned milk supplier, is seeking to sell part of the company to an Australian dairy investor, after exploring different options to expand its business of milk aggregating and processing in the past 12 months.

Page 15: Jetstar, the discount unit of Qantas, lost ground on trans-Tasman routes last year but still managed to send some $NZ156.2 million ($144m) back to its parent.

Page 17: The size of Australia’s iron ore export earnings continues to soar despite concerns about an end of the mining boom, a new report says.


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