Palmer inflames fight with Chinese
Federal MP Clive Palmer has launched an extraordinary attack on China’s biggest conglomerate, declaring he would not stand by and watch Australian interests be ‘‘raped and disrespected by foreign-owned companies’’. The Aus
Property price warning
One of Australia’s top former government economists warns that the surging housing market is close to overheating, leaving the major banks vulnerable to a credit crunch if left unchecked through higher official interest rates. The Fin
WA plays cast eye over books at embattled Forge
Two WA engineering outfits are among companies that have been running the ruler over Forge Group as it seeks a more lasting fix for huge project losses. The West
Live exporter denies breaches
A WA-based live exporter has hit back at fresh allegations of animal welfare breaches just weeks after revelations about its involvement in the heat-related deaths of more than 4000 sheep on a voyage from Fremantle. The West
Warning before ballot blunder
Election officials were warned four years ago to improve training of polling booth workers and how they handled ballot papers, a parliamentary inquiry investigating the WA Senate debacle has been told. The West
Shorten rejects idea
Australian Workers’ Union leader Paul Howes has fallen foul of the labour movement, with Opposition Leader Bill Shorten dismissing his call for an industrial relations grand compact as fantasy, and others in Labor questioning his motives. The Fin
Media to pay $1m for Corby
As a million-dollar bidding war erupts for Schapelle Corby’s first post-jail interview, Tony Abbott has voiced misgivings and a possible warning against cashing in on her experiences in Bali’s Kerobokan prison. The Aus
BHP in free trade crusade
BHP Billiton chief executive Andrew Mackenzie has declared that ‘‘an evangelism’’ is required to resist protectionism and capture the benefits of free trade that underpin economic growth and jobs creation. The Aus
The Australian Financial Review
Page 1: One of Australia’s top former government economists warns that the surging housing market is close to overheating, leaving the major banks vulnerable to a credit crunch if left unchecked through higher official interest rates.
The Chinese company in a protracted and bitter dispute with federal MP and billionaire Clive Palmer has warned that investment from other Chinese companies could hinge on the outcome.
Page 3: BHP Billiton chief executive Andrew Mackenzie has backed a more open approach to trade in intellectual property, putting himself at odds with the US push for tighter IP rules in regional free trade talks.
Page 5: Treasurer Joe Hockey has criticised the United States Congress for blocking reforms to the International Monetary Fund, an act he said risked causing global economic instability.
Prime Minister Tony Abbott has sought to head off trouble with the Nationals by pledging to bring forward a new drought assistance program which was scheduled to begin on July 1 this year.
Page 7: Two of the nation’s most senior business leaders, Infrastructure Australia chairman Rod Eddington and BHP Billiton chief executive Andrew Mackenzie, have endorsed Paul Howes’s call for a revisiting of the Accord to solve problems in the nation’s industrial relations system.
Australian Workers’ Union leader Paul Howes has fallen foul of the labour movement, with Opposition Leader Bill Shorten dismissing his call for an industrial relations grand compact as fantasy, and others in Labor questioning his motives.
Page 10: New Zealand Prime Minister John Key will confront Prime Minister Tony Abbott over a Woolworths and Coles “Buy Australian” produce campaign which the New Zealand leader claims could violate a bilateral trade deal.
Page 13: Morgan Stanley is confident its stockbroking business can achieve management stability and profitability after the investment bank appointed a new chief executive following Brendan Goffinet’s departure just a year into the job.
Page 15: The Australian Shareholders’ Association has called on Leighton Holdings’ largest shareholder, Hochtief, to abstain from trading in the contractor’s shares ahead of financial results.
Tabcorp chief executive David Attenborough has shrugged off falling revenue in the gambling company’s legacy businesses, saying a shift from tote to fixed-odds betting improves margins and punters shunning retail outlets are simply using their phones and tablets.
Virgin Australia Holdings’s largest shareholder, Air New Zealand , remains “fully supportive” of the Australian carrier’s strategy after it revealed it would report a half-year pre-tax loss of around $49 million.
Page 16: The national competition watchdog has revealed serious reservations about the targeted takeover of the country’s largest power producer by AGL Energy, raising the likelihood that the company considered the leading bidder for the generator could be blocked.
Page 29: Virgin Australia Holdings and Etihad Airways have emerged as the key airline partners for the Australian Tourism Exchange (ATE14) after Qantas Airways severed its exclusive sponsorship of the Tourism Australia event after 35 years.
Page 33: Class action firm Maurice Blackburn stands to reap around $10 million in fees, including legal costs, as a result of the Federal Court’s ANZ decision.
The Australian
Page 1: Federal MP Clive Palmer has launched an extraordinary attack on China’s biggest conglomerate, declaring he would not stand by and watch Australian interests be ‘‘raped and disrespected by foreign-owned companies’’.
Strong Christmas retail sales and surging Chinese demand for iron ore are setting the Australian economy up for stronger growth this year than was feared by Treasury in December.
Page 4: Ford’s move to sack 20 per cent of its Australian workforce from June has prompted demands from unions for more federal help for Toyota and warnings of added pressure on component makers.
Page 5: As a million-dollar bidding war erupts for Schapelle Corby’s first post-jail interview, Tony Abbott has voiced misgivings and a possible warning against cashing in on her experiences in Bali’s Kerobokan prison.
Page 6: Former foreign minister Alexander Downer has delivered a sharp criticism of the Australia Network’s programming choices, declaring the $223 million scheme lacks impact and substance.
Page 17: BHP Billiton chief executive Andrew Mackenzie has declared that ‘‘an evangelism’’ is required to resist protectionism and capture the benefits of free trade that underpin economic growth and jobs creation.
Page 18: Yesterday’s presentation by Zhang Jijing to a crowd of 670 movers and shakers at the Melbourne Mining Club points to new paths in Australia’s relationship with China.
Page 19: The big banks have ‘‘materially’’ loosened lending standards to homeowners and large companies in the past six months despite warnings from regulators to be prudent, a survey has found.
Embattled sportswear group Billabong International could consider a possible float of its majority owned online fashion retailer SurfStitch following confirmation of a strategic review of its e-commerce businesses.
Page 25: Jetstar says its new 787s are producing expected fuel savings and a 10 per cent reduction in unit costs on the routes it has flown so far.
The West Australian
Page 3: The WA Liberal Party has suffered a blow to its finances after long-time benefactor Terry Jackson said it could no longer have its Murray Street headquarters rent-free.
Page 6: Tony Abbott is hoping to make history tomorrow by becoming the first prime minister in 93 years to win a seat from the Opposition at a by-election.
Election officials were warned four years ago to improve training of polling booth workers and how they handled ballot papers, a parliamentary inquiry investigating the WA Senate debacle has been told.
Page 9: A man who lost two friends to fatal shark attacks has spoken out at a community forum urging the State Government to “stop interfering” with the lives of bathers, surfers and ocean users.
Page 16: A WA-based live exporter has hit back at fresh allegations of animal welfare breaches just weeks after revelations about its involvement in the heat-related deaths of more than 4000 sheep on a voyage from Fremantle.
Business: Clive Palmer has won the latest round in his running legal battle with China’s CITIC Pacific after the Federal Court rejected a bid by CITIC to have his privately owned resource company Mineralogy removed as the security controller of Cape Preston Port.
Sumitomo has signalled it is on the hunt for major agricultural and food processing assets in Australia after taking full ownership of Emerald Grain.
Two WA engineering outfits are among companies that have been running the ruler over Forge Group as it seeks a more lasting fix for huge project losses.