Woodside's Leviathan deal at risk
Woodside Petroleum's $US2.6 billion ($2.85bn) entry into the giant Leviathan offshore gasfield could be at risk, with the Israeli Ministry of Finance reportedly unwilling to recommend the Perth company's desired taxation regime for LNG exports. The Aus
Mill bonus for WA grain growers
WA grain growers are set to emerge as the owners of one of the world’s biggest and most sought-after flour milling companies based on a huge increase in its production capacity at sites across South-East Asia. The West
WA to get a bigger share of GST than expected
The Barnett Government will get up to an extra $500 million in GST that will help bolster the State’s bottom line. The West
Labor could cave in on Qantas
Labor could relent to Government demands to lift foreign ownership restrictions on Qantas but will insist maintenance and catering stay in Australia. The West
Bailout push for shipbuilders
Defence Minister David Johnston is pushing for the next multibillion-dollar warship project, which will be announced within three months, to be built in Australia, bailing out local ship builders that are up to 30 per cent more expensive than competitors overseas. The Fin
AngloGold opens nation’s No.4 mine
The world’s third-largest gold producer, AngloGold Ashanti, is aiming to further drive down costs across its operations as it formally opened the nation’s fourth largest goldmine in Western Australia on Thursday. The Fin
Budget faces $18bn hurdle: report
Treasurer Joe Hockey has been alerted by Treasury to $18 billion worth of spending commitments that could stand in the way of the Abbott government’s plans to move the federal budget back into surplus. The Aus
ANZ appeal could save banks millions
ANZ Bank will appeal the Federal Court’s controversial ruling in February that it charged “extravagant, exorbitant and unconscionable” late payment fees on credit cards, challenging a decision that threatens to cost banks tens of millions of dollars. The Fin
The Australian Financial Review
Page 1: Defence Minister David Johnston is pushing for the next multibillion-dollar warship project, which will be announced within three months, to be built in Australia, bailing out local ship builders that are up to 30 per cent more expensive than competitors overseas.
Assistant Treasurer Arthur Sinodinos is under pressure to make companies publicly reveal how much tax they pay in Australia after previously signalling he wants to scrap transparency laws.
Page 3: A resumption of live cattle exports and stellar wheat prices helped push farm shipments to a record in January, delivering the nation’s biggest trade surplus in 2½ years.
The Coalition government is concerned about an estimated $9 million impost on businesses from new gender reporting standards imposed by the previous government.
Page 4: Labor prepared to drop foreign ownership limits for single investors but insists on a 49 per cent cap and Australia based maintenance.
Page 5: The federal government has warned of a looming blowout in the cost of childcare subsidies but will spare the rebate from the budget axe, at least until the next federal election.
Page 9: Doctors may be given a lump sum payment to treat individual patients rather than be paid by the number of consultations they provide, under plans being considered by the government.
Page 11: Ford Australia has left open the prospect it could shut down manufacturing earlier than announced and suggested hasty changes to trade protections that could contribute to that process.
Page 12: Australia lost its stature as the top destination for China’s foreign direct investment last year, despite growing interest from private companies and a little-appreciated surge of investment into commercial real estate.
Page 13: SEEK chief executive Andrew Bassat has challenged more Australian companies to embrace the risk of expanding into Asia, after Carsales.com sealed a $126 million foray into the South Korean car classified market.
BlueScope Steel may be blocked from buying any further Australian steel assets after Australian Competition and Consumer Commission chairman Rod Sims warned that the regulator would closely scrutinise every deal proposed by the steel maker.
Page 15: The world’s third-largest gold producer, AngloGold Ashanti, is aiming to further drive down costs across its operations as it formally opened the nation’s fourth largest goldmine in Western Australia on Thursday.
Page 16: The local joint venture beer company operated by global brewer Heineken and food and beverages group Lion has generated a 42 per cent jump in annual profits, underpinned by solid sales of Heineken in a premium beer segment that is growing at 10 per cent yearly.
Page 17: ANZ Bank will appeal the Federal Court’s controversial ruling in February that it charged “extravagant, exorbitant and unconscionable” late payment fees on credit cards, challenging a decision that threatens to cost banks tens of millions of dollars.
The Australian
Apple and Google are stepping on the gas to integrate their smartphones with car communications systems, but big car companies insist the dashboard screen belongs to them and the only role for the pair is as app supplier.
Penalty rates, the power of unions and workplace conditions and flexibility will be placed under the microscope as the Abbott government presses forward on a wide-ranging review of the Fair Work Act, according to Fairfax Media.
Uncertainties over the amount of gas available at the three LNG projects in Gladstone and a recent lift in the Asian spot price to over $20 a gigajoule has seen analysts warn of the threat of local prices rising to about $18 a gigajoule, well above normal levels of $3-$4 a gigajoule.
Treasurer Joe Hockey has been alerted by Treasury to $18 billion worth of spending commitments that could stand in the way of the Abbott government’s plans to move the federal budget back into surplus.
More freedom over programming standards is on commercial television networks' wish lists as they face increased pressure from the internet.
Woodside Petroleum's $US2.6 billion ($2.85bn) entry into the giant Leviathan offshore gasfield could be at risk, with the Israeli Ministry of Finance reportedly unwilling to recommend the Perth company's desired taxation regime for LNG exports.
China's state-owned Chinalco has put its foot on strategic new supplies of graphite that Syrah Resources plans to bring to world markets from a development of its huge Balama deposit in northern Mozambique.
The percentage of women on Australia's top corporate boards has more than doubled in the past four years, but is still only at 17.6 per cent.
Prime Minister Tony Abbott has spruiked his $5.5 billion a year paid parental leave scheme as a "sensible" and timely policy.
Employment Minister Eric Abetz says the government's review of workplace laws will be thorough and broad but has refused to spell out its scope.
The West Australian
Page 1: The Barnett Government will get up to an extra $500 million in GST that will help bolster the State’s bottom line.
Page 3: Left-wing minor parties are threatening to withhold preferences from the Greens at the re-run WA Senate election in retaliation for what they say were dirty tactics by the Greens at last year’s Federal poll.
Page 4: Local consumers and China have gone on a spending binge that is likely to force the Reserve Bank into lifting interest rates sooner than expected.
Page 9: Sporting, ethnic and returned servicemen’s clubs across WA would open their bars to tourists under a bold liquor licensing shake-up designed to guarantee the future of the humble community club and stimulate tourism.
Laws to ban adults from giving alcohol to other people’s children are in serious doubt after Premier Colin Barnett yesterday labelled the so-called secondary supply laws “nigh on impossible to administer”.
Page 12: Industry leaders expect Indonesia to boost its investment in northern cattle stations in response to moves to open up live exports to China.
Page 14: A lawyer for James Packer’s Crown Limited has told the Supreme Court the only reasonable explanation for a provision that allowed the State Government to grant up to 10ha of extra land to the owners of the Burswood Casino was to facilitate extra future developments.
Page 16: Labor could relent to Government demands to lift foreign ownership restrictions on Qantas but will insist maintenance and catering stay in Australia.
Page 17: Subsidising the cost of electricity to households has come at the expense of WA’s AAA credit rating, “healthy surpluses” and the MAX light rail line, Energy Minister Mike Nahan has claimed.
Page 19: Only four Perth suburbs are on a list of Australia’s most family friendly neighbourhoods, with experts blaming high property prices for affecting liveability.
Business: WA grain growers are set to emerge as the owners of one of the world’s biggest and most sought-after flour milling companies based on a huge increase in its production capacity at sites across South-East Asia.
The gun band of stock pickers and advisers who have quit Macquarie Group’s Perth office in recent weeks is set to re-emerge at WA private wealth management firm Entrust.
Mines Minister Bill Marmion has ruled out any changes to mining royalty rates in the upcoming State Budget, saying the State Government would await the results of a royalty review before seeking any changes.
There is mounting speculation Nexus Energy is teetering on the brink of corporate collapse, suffocating under a heavy debt burden made worse by the shutdown of its only cash-generating asset.