Fortescue rights win angers Yindjibarndi
Iron ore miner Fortescue Metals Group has won the right to explore a parcel of Pilbara land without input from the Yindjibarndi native-title holders, in a victory for the Western Australian government’s policy of fast-tracking such licences. The Fin
Palmer faces high price for Mineralogy backflip
Clive Palmer could have to pay legal costs of up to $55,000 for a one-hour court hearing last month that was described by the presiding judge as ‘‘absurd’’. The Aus
ACCC to take sober look at beer contracts
Justin Wiebrecht, brand manager for Australia’s top-selling independent craft beer, says the Broome, Western Australia-based brewer is struggling to keep up with demand for kegs of Matso’s mango and ginger beers.
Liberals call for Senate poll to stand
Lawyers for the Liberal Party say there is no reason for a fresh Senate poll in WA because only 23 of the 1370 missing ballot papers affected the outcome of the botched re-count. The West
ASIC cracks down on dodgy brokers
The corporate regulator is stepping up action against dishonest mortgage brokers as part of a strategy to head off an expected surge in fraud in the hot housing market. The Fin
MUA cuts claim but bosses firm
The Maritime Union of Australia has reduced a 24 per cent pay claim served on a contractor servicing Chevron’s $52 billion Gorgon project, and agreed to defer threatened strike action for 30 days. The Aus
Graphite find mobilises Triton
Triton Minerals has become the latest junior to garner market attention after a graphite find, with its shares jumping by as much as 55 per cent. The West
The Australian Financial Review
Page 1: Australians may need to accept real wage cuts or face the prospect that official interest rates have to rise to control inflation even as unemployment rises, business leaders and economists said.
Page 3: The corporate regulator is stepping up action against dishonest mortgage brokers as part of a strategy to head off an expected surge in fraud in the hot housing market.
Technology entrepreneurs are hopeful the Abbott government will end the up-front taxation of employee share options, a policy they say is one of the biggest barriers to Australian tech start-ups.
Page 4: Australian house prices have grown faster than in any other major economy and are forecast to match growth in 2014 even in countries recovering from the global financial crisis.
Page 5: A strike is on the cards in a showdown between companies supplying offshore oil and gas rigs, and the maritime union in Western Australia.
Prime Minister Tony Abbott says the Group of 20 meetings to be held in Australia this year will be about “real actions” and “specific outcomes” and not another international talk fest.
Page 7: Bill Shorten has expressed regret over the previous Labor government’s decision to move thousands of welfare recipients from the single-parenting payment to the lesser Newstart unemployment payment, describing it as “probably too hard”.
Page 8: Iron ore miner Fortescue Metals Group has won the right to explore a parcel of Pilbara land without input from the Yindjibarndi native-title holders, in a victory for the Western Australian government’s policy of fast-tracking such licences.
Page 11: An independent federal agency has found a federal-state decision to go ahead with front-of-pack nutritional star-labelling for food without formally testing its regulatory impact was not compliant with established best practice.
Page 15: BHP Billiton is on track to break a three-year losing streak and grow its full-year profits in 2014, despite expectations that commodity prices will soon fall in some of the company’s most important businesses.
Page 17: Bush clothing and bootmaker RM Williams has delivered a 49 per cent rise in annual profits and will open eight new concession outlets in Myer department stores this financial year as new 49.9 per cent owner L Capital enjoys an upturn in profits.
Page 19: Justin Wiebrecht, brand manager for Australia’s top-selling independent craft beer, says the Broome, Western Australia-based brewer is struggling to keep up with demand for kegs of Matso’s mango and ginger beers.
Page 20: Australia’s iron ore miners face the looming threat of tumbling profits as the commodity that held the country out of the global financial crisis struggles in 2014.
Heavy spending on drilling and development in BHP Billiton’s US shale acreage failed to prevent a disappointing first half production performance, leaving the mining major reliant on a strong second half to reach its full-year target.
Page 21: InterOil’s new chief executive, Mike Hession, has poached expertise from his former employer Woodside Petroleum to beef up the leadership team at the aspiring liquefied natural gas player in Papua New Guinea.
Page 26: Qantas Airways has once again proven more reliable than rival Virgin Australia Holdings in getting its passengers to their destinations on time.
The Australian
Page 1: The number of students receiving extra money for a disability under the new school funding model is expected to increase by 60 per cent next year, creating a potential shortfall of at least $2 billion if the federal government honours its commitment to the payment.
Page 2: Inefficient government services and the falling Australian dollar have been blamed for a shock jump in inflation that has eliminated the chance of any further cut in interest rates.
Australia has been urged to cut the remaining vestiges of protectionism by a global health expert who has declared that scrapping duties and tariffs on trade in the Asia-Pacific region would have a bigger impact than ‘‘massive transfers of aid’’.
Page 5: The Maritime Union of Australia has reduced a 24 per cent pay claim served on a contractor servicing Chevron’s $52 billion Gorgon project, and agreed to defer threatened strike action for 30 days.
Page 6: Two of the peak bodies representing job agencies will today strongly oppose Abbott government plans to tighten eligibility for welfare or reduce payment rates, arguing the strategy will do nothing to get dependent people into work.
Page 15: A mixed BHP Billiton quarterly report has sharpened focus on the mining giant’s cost-cutting efforts, which will be the driver of any earnings surprises when the nation’s biggest miner reports its first-half result.
Australia’s largest radiology provider I-Med Network appears to be headed for a return to the share market within a year, following a pre-Christmas refinancing deal that saw three major banks back the group.
Page 17: Clive Palmer could have to pay legal costs of up to $55,000 for a one-hour court hearing last month that was described by the presiding judge as ‘‘absurd’’.
Page 21: Over the past week, both Rio Tinto and BHP Billiton have produced strong production growth across their key commodities. Unhappily, however, that news has coincided with a sharp downwards break in iron ore prices.
The West Australian
Page 1: Police locked down part of central Perth late yesterday after a detainee escaped from Serco guards and fled into city streets.
Page 9: Internet companies have criticised a plan to create a powerful children’s e-safety commissioner with unprecedented authority to regulate social media in Australia.
Former prime minister Kevin Rudd is living up to his nickname of Kevin 747 in retirement — travelling the globe to meet powerful bureaucrats and politicians.
Consumers will need PINs, not pens, when they make a credit card purchase from August 1.
Page 11: The City of Swan issued warnings to almost 1500 property owners before summer to put in firebreaks and prepare homes for bushfires.
Page 12: Chances of further interest rate cuts have been snuffed out after a surprise surge in inflation in the December quarter to its highest level for two years.
Page 13: The Liquor Commission has rejected an appeal by Busselton licensees to stop two new liquor stores opening in the area, saying they were only objecting to protect their commercial interests.
Page 14: Tony Abbott has issued a defiant message to Indonesia over asylum seekers, suggesting Australia would continue to turn back boats regardless of its angry objections.
Page 16: Lawyers for the Liberal Party say there is no reason for a fresh Senate poll in WA because only 23 of the 1370 missing ballot papers affected the outcome of the botched re-count.
Page 18: Perth doctors say there is urgent need to reduce the rate of premature births, which despite their efforts remains the single biggest cause of childhood death and disability in WA.
Business: Reducing the gender pay gap has attracted plenty of motherhood statements from the corporate world, but St Barbara Mines’ commitment has already produced results.
Triton Minerals has become the latest junior to garner market attention after a graphite find, with its shares jumping by as much as 55 per cent.
Gold miner Kingsgate predicts it will comfortably meet production guidance for the 2014 financial year after reporting an increase in quarterly production.
