06/02/2014 - 06:16

Morning Headlines

06/02/2014 - 06:16

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Morning Headlines

Buswell tips more cuts to big projects

Treasurer Troy Buswell has begun laying the groundwork for a divisive State Budget, flagging further cuts to WA’s ambitious capital investment program, privatisation of assets and services and more public sector redundancies. The West

Airfares war gives Perth big bargains

West Australian travellers are being spoilt for choice with cutthroat airfare wars between five major low-cost airlines. The West

ANZ fees pain may hit other outfits

Banks charging hefty fees for late credit card payments have been put on notice after a judge ruled fees of $20 and $35 were exorbitant and unconscionable, potentially opening the door for legal action against other companies’ fees. The Aus

Kal’s Super Pit sets 2029 use-by date

Gidji Roaster, the towering landmark that has processed sulphide concentrate from Kalgoorlie-Boulder’s Super Pit for the past 25 years, will be shut down by the end of next year. The West

Trafford Resources caveat clouds Kingsgate’s Challenger

Perth-based junior explorer Trafford Resources has lodged a caveat over ground surrounding Kingsgate Consolidated’s Challenger goldmine in South Australia in a move that could complicate Kingsgate’s efforts to revitalise — and possibly sell — the operation. The Aus

Barnett cautions against scaring investors

Colin Barnett has cautioned of a “growing tide” of African resource nationalism that has the potential to scare investors from the minerals-rich continent. The West

Scott apology not enough, say PM, senior ministers

Hostilities between ABC management and members of the Abbott government continue, despite an attempt by ABC managing director Mark Scott to bring the matter to an end with a partial apology. The Aus

Scorching ton puts Perth into final

Perth Scorchers have qualified for the Champions League Twenty20 tournament in extraordinary circumstances at the SCG after an extended rain delay had them on the brink of elimination in the BBL semi-final against the Sydney Sixers last night. The Aus

 

 

The Australian

Page 1: Queensland’s largest power generator will today declare that Australia is one of the world’s most expensive countries for energy and warn that the electricity market is being distorted by the carbon tax, mandatory renewables target and solar-rooftop subsidies.

Sixteen of the most powerful indigenous and business leaders as well as top-ranking bureaucrats have been appointed to oversee a radical plan devised by Noel Pearson to empower Aboriginal communities and ensure that funding delivers real gains on the ground.

The vast majority of workers at embattled cannery SPC Ardmona are entitled to lucrative redundancy payouts of up to two years’ wages, the union representing the workforce has confirmed.

Page 2: Hostilities between ABC management and members of the Abbott government continue, despite an attempt by ABC managing director Mark Scott to bring the matter to an end with a partial apology.

Page 3: Banks charging hefty fees for late credit card payments have been put on notice after a judge ruled fees of $20 and $35 were exorbitant and unconscionable, potentially opening the door for legal action against other companies’ fees.

Page 4: The Electrical Trades Union, one of the most strident critics of the Newman government, has become the first union to be charged under new Queensland laws after allegedly refusing to detail political donations and spending on its public campaigns.

Page 5: The head of Infrastructure NSW has warned that Sydney’s existing airport at Mascot should be fully used before the federal government spends billions on a second airport, and said the state does not have the funds to pay for the necessary roads and rail links.

Page 6: One of the alcohol industry’s main lobby groups spent 14 times more per capita on political donations in the Northern Territory last year than in any jurisdiction at any time over the past decade.

Page 8: Tony Abbott and his New Zealand counterpart, John Key, will chair a joint meeting of about seven cabinet ministers from each country in Sydney tomorrow, when they will consider creating a seamless, ‘‘domestic-like’’ business environment straddling the Tasman.

Page 18: BHP Billiton has committed to spend up to $US1 billion ($1.12bn) on oil and gas exploration at its offshore Trinidad and Tobago ground, which it says has the potential to be similar to big oil regions such as Nigeria and the Gulf of Mexico.

Perth-based junior explorer Trafford Resources has lodged a caveat over ground surrounding Kingsgate Consolidated’s Challenger goldmine in South Australia in a move that could complicate Kingsgate’s efforts to revitalise — and possibly sell — the operation.

Mineral sands miner Iluka has firmed its resolve to extract a higher market rating for its royalty on iron ore production at BHP Billiton’s Mining Area C operation in Western Australia’s Pilbara.

A Coal mining company backed by Gina Rinehart has moved to distance the billionaire from a $55,000 donation it made to the Labor Party, saying she had never been made aware of the payment.

Page 26: The volume of capital piling into Australian office buildings is at odds with the soft underlying demand for office space by tenants, with concerns mounting a bubble in property values could emerge in the next 18 months if trends continue.

Page 29: Perth Scorchers have qualified for the Champions League Twenty20 tournament in extraordinary circumstances at the SCG after an extended rain delay had them on the brink of elimination in the BBL semi-final against the Sydney Sixers last night.

 

The West Australian

Page 3: Tens of thousands of West Australians stand to win back fees on tardy credit card payments after the Federal Court ruled they were an illegal punishment imposed on customers.

Page 6: Treasurer Troy Buswell has begun laying the groundwork for a divisive State Budget, flagging further cuts to WA’s ambitious capital investment program, privatisation of assets and services and more public sector redundancies.

Tony Abbott has acknowledged the importance of penalty rates to many workers, amid unions and Labor ramping up fears the Government intended allowing employers to wind back conditions.

Page 9: Opposition to Colin Barnett’s shark drum line policy has followed him to South Africa where a group of 70 protesters demonstrated outside a mining conference.

Page 11: WA’s Senate election debacle will come under the microscope of a high-level Federal parliamentary inquiry today.

Page 15: Prisons contractor Serco has been asked to pay as much as $450,000 to the State Government after an escape last month in Geraldton, which involved a recently imprisoned rapist.

The State Government has signed another multimillion-dollar airline advertising deal — this time with low-cost Australian carrier Jetstar — in a fresh bid to attract more visitors to WA.

Business: The void left by the mining services industry downturn continues to play out in Perth’s office market, with the vacancy rate climbing to 9 per cent in the CBD and 9.2 per cent in West Perth.

Struggling vanadium producer Atlantic has suffered another disaster after a fire engulfed key infrastructure at its Windimurra project late on Tuesday afternoon.

Colin Barnett has cautioned of a “growing tide” of African resource nationalism that has the potential to scare investors from the minerals-rich continent.

Auto parts retailer MALZ Motoring & Leisure Zone is in the hands of receivers after collapsing under the weight of an $8 million debt.

Gidji Roaster, the towering landmark that has processed sulphide concentrate from Kalgoorlie-Boulder’s Super Pit for the past 25 years, will be shut down by the end of next year.

The Chamber of Minerals and Energy has joined the chorus of industry bodies calling on the State Government to improve infrastructure planning in WA, lobbying for a dedicated agency to plan and deliver major projects in the State.

Gina Rinehart’s Roy Hill Holdings called down almost $331 million in funding from its equity holders last month, as work ramps-up on the major phase of its 55-million-tonne-a-year iron ore project.

 

The Australian Financial Review

Business News apologises that due to ongoing maintenance with the Australian Financial Review website, headlines from its paper today are unavailable.

 

 

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