Miners can cope with price hit
Big miners believe the recent slump in the iron ore price is due to a mix of credit tightness in China and opportunism from traders, with executives from BHP Billiton and Rio Tinto expressing faith in China’s long-term demand for Australia’s most lucrative export. The Fin
Leaders head west as campaign for WA votes heats up
Battlelines for the State’s historic half-Senate election were drawn yesterday as three Federal party leaders descended on Perth to make it the epicentre of national political combat for a day. The West
Tax reform needed to avert crisis
The former treasury secretary and head of the last major review of the taxation system, Ken Henry, has warned the Abbott government urgently needs a tax and welfare package to head off an imminent budget crisis. The Fin
Clough feared CTEC contract
Forge Group bought a power station builder despite its biggest shareholder raising fears about a contract which became the biggest contributor to Forge’s $800 million collapse. The West
PM offers support for homeless services
Federal funding for WA’s homeless appears safe after Tony Abbott said he had heard Premier Colin Barnett’s plea to maintain vital services for the State’s most vulnerable people. The West
Crackdown on abused rent scheme
Social Services Minister Kevin Andrews has flagged a major shake-up of the National Rental Affordability Scheme in the wake of revelations the program has been manipulated to build student housing that is being let to wealthy foreign students. The Aus
The Australian Financial Review
Page 1: The former treasury secretary and head of the last major review of the taxation system, Ken Henry, has warned the Abbott government urgently needs a tax and welfare package to head off an imminent budget crisis.
Page 3: West Australian building mogul Len Buckeridge died from a suspected heart attack at his Perth home Tuesday morning.
Treasurer Joe Hockey and his NSW counterpart Mike Baird will host a summit of financiers, regulators and superannuation funds to tackle Australia’s infrastructure challenge.
Page 5: Treasurer Joe Hockey has given a fresh indication the government is rethinking plans to cut hard at the May budget and will adopt a longer-term approach to a surplus.
Medibank Private is planning to expand a controversial foray into primary healthcare in Queensland, forcing private coverage of visits to the doctor onto the political agenda.
Page 6: Hundreds of millions of dollars of superannuation payments owed to workers by their bosses will never be recovered due to insolvency.
Page 8: Energy companies are alarmed at a comprehensive list of questions from the national competition regulator over carbon pricing they fear will prove to be costly and futile.
Page 15: Big miners believe the recent slump in the iron ore price is due to a mix of credit tightness in China and opportunism from traders, with executives from BHP Billiton and Rio Tinto expressing faith in China’s long-term demand for Australia’s most lucrative export.
Page 17: Qantas Airways has forecast rival Virgin Australia Holdings will add 4.6 per cent capacity in the domestic market in the second half, outpacing its own plans to boost capacity by 3 to 4 per cent.
Page 18: One of the world’s leading equities strategists has warned Australia will struggle to make the transition from being a mining-led economy unless it finds meaningful export growth from other sectors.
Page 37: The family-owned Guilmartin Group has acquired the 4.4-hectare The Landing development site in Port Hedland, Western Australia, for circa $7.5 million, with plans for a 362-room motel and upgrades to existing tourism facilities.
The Australian
Page 1: Social Services Minister Kevin Andrews has flagged a major shake-up of the National Rental Affordability Scheme in the wake of revelations the program has been manipulated to build student housing that is being let to wealthy foreign students.
Joe Hockey has claimed SPC Ardmona’s $70 million deal to supply Woolworths as vindication of the government’s line in the sand on corporate welfare, declaring it a win for companies that are prepared to accept responsibility for their own actions.
Page 2: Clive Palmer launched a scattergun attack on the Tasmanian political system yesterday, saying he was prepared to go to jail ‘‘like Gandhi’’ for alleged breaches of the electoral act.
The Abbott government has accused South Australian Labor of releasing ‘‘dodgy’’ costings after it reallocated $100 million in Nation Building funds to offset the cost of $670m in state election promises.
Page 4: More Australians are completing Year 12 and entering university or the workforce but welfare reforms appear to have left a large group of disengaged youth, according to a report commissioned by the federal government.
Qantas is reviewing the future of its Australia-based call centres while moving to recruit new staff in Auckland.
Page 5: One of the nation’s largest internet providers has warned that the Coalition’s plans for a regulatory crackdown on cyber-bullying could prove ‘‘near impossible’’ to enforce.
Page 6: Police are investigating whether former West Australian treasurer Troy Buswell crashed into, rear-ended and sideswiped parked cars on at least two streets near his home before he was seen slamming into the gates of his apartment building in the early hours of February 23.
Tony Abbott is facing the biggest divisions in the Victorian Liberal Party in 15 years as the aftershocks of a seemingly straightforward pre-selection balkanise his party room.
Federal Labor tried to make the Barnett government’s woes rub off on Tony Abbott yesterday as he campaigned in Western Australia on the carbon and mining taxes.
Page 17: Rio Tinto could cut electricity production from a Gladstone gas-fired power plant next year because of a lack of competitively priced gas as $70 billion of liquefied natural gas projects get ready to start up in the city.
Page 18: North American gold major Newmont Mining has sold its 5.4 per cent stake in Paladin Energy, removing a significant overhang from the uranium miner’s share register.
Gindalbie Metals’ Chinese partner Ansteel is finalising talks with its banks to secure funding, which will ensure the Karara joint venture does not breach debt covenants.
The West Australian
Page 1: Battlelines for the State’s historic half-Senate election were drawn yesterday as three Federal party leaders descended on Perth to make it the epicentre of national political combat for a day.
Page 6: Federal funding for WA’s homeless appears safe after Tony Abbott said he had heard Premier Colin Barnett’s plea to maintain vital services for the State’s most vulnerable people.
Tony Abbott has given his strongest indication that Australian Football League matches and cricket games will remain on free-to-air TV but admits other media protections could be junked.
Confidence among WA consumers has crashed on the back of job and cost of living worries — just as the State and Federal budgets face a hit from falling iron ore prices.
Page 12: WA’s electricity safety regulator has put Western Power on notice over the failure rate of wood power poles that carry electricity to thousands of homes, saying it is unacceptable.
Page 16: Former Federal Cabinet minister Stephen Smith has drawn parallels between WA’s embrace of desalinated water and the legendary exploits of C.Y. O’Connor, saying it has underpinned Perth’s recent prosperity.
Business: Forge Group bought a power station builder despite its biggest shareholder raising fears about a contract which became the biggest contributor to Forge’s $800 million collapse.
David Jones chief executive Paul Zahra looks set to stay on with the embattled retailer.
Leighton Holdings shares fell 95¢ to $22.14 yesterday as analysts said it was unlikely biggest shareholder Hochtief would raise its $22.15-a-share proportional takeover offer.
John Hancock received a flavour of his public worth yesterday when Volta Mining shareholders increased the Pilbara iron ore aspirant’s market value by $2.6 million on hearing of his appointment as a non-executive director.
The Northern Territory Government has given its strongest commitment so far to extending the Ord irrigation channel across the WA border.