CFMEU pays $684,000 penalty, cops ban over unlawful strikes
The West Australian branch of the Construction, Forestry, Mining and Energy Union will have to pay $684,000 in compensation and fines following a landmark Federal Court ruling that will see one of its top officials banned from construction sites. The Fin
Roy Hill rolls with the ore-price punches
The head of Gina Rinehart’s $10 billion Roy Hill iron ore project has deflected concerns about recent iron ore price volatility and the group’s continued wait to finalise its estimated $7bn debt package. The Aus
iiNet visits Silicon Valley to build plan
Perth-based internet service provider iiNet has sent its board of directors and senior management team to meet with Silicon Valley technology giants including Facebook to research ideas and potential partnerships for its five year business plan. The Fin
Shorten soft on support for mine tax
Bill Shorten has all but walked away from the mining tax while indicating Labor might revisit the “principle” of a profits-based tax on resources before the next election. The West
Windimurra claims another
Michael Minosora’s 4½-year dream of building a mining empire on the back of the Windimurra vanadium operation is over. The West
Project spree risks AAA rating
Sweeping changes in how Australia builds and funds public infrastructure are required before the government embarks on any major spending, or the government’s AAA credit rating may be at risk, according to the Productivity Commission. The Fin
Costello: don’t back paid leave scheme
Former treasurer Peter Costello has joined the ranks of conservative economic hard-heads who have personally advised Joe Hockey not to proceed with Tony Abbott’s paid parental leave scheme. The Fin
Pay per drive: ‘desperate’ times put cost back on us
Motorists could pay for every kilometre they drive in a radical plan to unleash billions of dollars in private investment as the Abbott government looks for ways to fund new roads without deepening the budget deficit. The Aus
The Australian Financial Review
Page 1: Sweeping changes in how Australia builds and funds public infrastructure are required before the government embarks on any major spending, or the government’s AAA credit rating may be at risk, according to the Productivity Commission.
The use of copper as collateral for loans in China may have contributed to a sharp sell-off in the metal.
Page 3: The ageing population threatens to entrench a growth-stifling culture of risk aversion stretching from parliaments to boardrooms and even the design of children’s playgrounds, according to Reserve Bank of Australia deputy governor Philip Lowe.
Page 4: Former treasurer Peter Costello has joined the ranks of conservative economic hard-heads who have personally advised Joe Hockey not to proceed with Tony Abbott’s paid parental leave scheme.
Page 6: NBN Co wants the federal government to close a loophole allowing companies such as Telstra and TPG Telecom to compete with the national broadband network by connecting up apartment buildings to fibre networks.
Page 8: Australia’s biggest construction companies, Leighton Holdings and Lend Lease, are powerful enough to inflate prices and profits, the Productivity Commission has concluded.
Page 9: The West Australian branch of the Construction, Forestry, Mining and Energy Union will have to pay $684,000 in compensation and fines following a landmark Federal Court ruling that will see one of its top officials banned from construction sites.
Page 11: Middle-income angst about job losses, “age-of-entitlement” budget cuts and the potential for higher official interest rates have driven consumer confidence to a 10-month low, wiping out all of the post-election bounce.
Page 14: Qantas Airways chief executive Alan Joyce will appear before a Senate inquiry on Friday focused on what the government can do to ensure the airline remains a strong national carrier.
Page 16: The Western Australian government has asked its mining department for more advice over exploration applications that appear to be designed to protect Andrew “Twiggy” Forrest’s rural cattle station from bona-fide miners.
Page 17: The Australian Taxation Office has suggested that the Abbott government could change the law to count tax debts in personal credit ratings.
Page 25: Chevron chief executive John Watson has warned Asian buyers will be left short of LNG supplies unless they accept they will have to pay prices much higher than those available in the US and bring to an end a current stand-off with producers.
Page 27: Perth-based internet service provider iiNet has sent its board of directors and senior management team to meet with Silicon Valley technology giants including Facebook to research ideas and potential partnerships for its five year business plan.
Page 28: Atlas Iron managing director Ken Brinsden says the current volatility in the iron ore price will not deter expansion plans and the market should take a mid-term view of the commodity.
The Australian
Page 1: Malcolm Turnbull will step up the case for far-reaching media reforms by hitting back today at warnings of the loss of regional TV news, as a confidential survey backs his claim that mergers will not threaten local services.
Page 2: Motorists could pay for every kilometre they drive in a radical plan to unleash billions of dollars in private investment as the Abbott government looks for ways to fund new roads without deepening the budget deficit.
The ACTU has called on Qantas to extend a breakthrough deal on job cuts at Sydney airport, in which the airline agreed to slow down staff reductions to allow greater consultation with unions.
Page 3: A Blaze at Sydney’s Barangaroo site brought the city to a standstill last night, with roads closed and buildings emptied amid fears a giant crane would collapse from heat damage.
Page 5: Mining leases do not extinguish native title rights and can result in rights to camp, visit sacred sites, hunt and fish being suspended only for the life of a mine, the High Court ruled in a major decision yesterday.
Page 17: Australia should use the G20 to propose a global program to make coal-fired plants more efficient to help tackle climate change, while also making a contribution to the eradication of poverty, according to the world’s leading coal producers.
Leighton Holdings’ management team is set for a shake-up as Spanish-controlled parent company Hochtief tightens its grip on the construction giant through its $1.2 billion takeover bid.
The head of Gina Rinehart’s $10 billion Roy Hill iron ore project has deflected concerns about recent iron ore price volatility and the group’s continued wait to finalise its estimated $7bn debt package.
Page 18: Chinese state-controlled metals miner MMG has declared it remains confident in the price outlook for copper, despite the dramatic fall for the economic bellwether metal in recent days.
Page 19: The death of prominent Perth businessman Len Buckeridge has thrown open the future of the Western Australian building materials market, with questions looming over whether his family’s $1 billion-plus empire will end up in competitors’ hands.
Page 25: Westfield’s $2 billion Milan project is being plagued by bureaucratic delays, according to local reports, as the company works through a controversial proposal to split its $70bn retail empire into overseas and Australian-focused companies.
The West Australian
Page 4: The State Government has vowed to seek new Federal approval to kill protected sharks by the end of the month to ensure baited drum lines can be set off the WA coast next summer.
Colin Barnett said the Opposition should “take me off to the Tower of London” if it was proved he misled Parliament over links between the Burswood stadium and Crown Perth’s new hotel.
Page 5: Construction unionist Joe McDonald held a worker by the neck and raised a fist at him in a bid to get him to join an unlawful strike, according to court documents.
Page 6: Football is injecting $5 billion a year into the national economy, becoming bigger than Qantas and Coca-Cola Amatil.
Page 9: The State Government has sparked a war of words with councils, accusing them of wasting money on “free hamburgers and expensive mail-outs” and demanding they get on with providing for their communities.
Page 10: Bill Shorten has all but walked away from the mining tax while indicating Labor might revisit the “principle” of a profits-based tax on resources before the next election.
Page 12: Malaysian authorities are feeling the heat over the search for the Malaysia Airlines aircraft missing with 239 people aboard amid perceived bungles, conflicting statements and now two much wider search areas.
Page 13: The fallout from Troy Buswell’s traffic accident shifted to the police investigation yesterday as the Opposition sought to establish whether WA Police had followed standard procedure.
Business: Michael Minosora’s 4½-year dream of building a mining empire on the back of the Windimurra vanadium operation is over.
The man in charge of Gina Rinehart’s Roy Hill iron ore project believes the State’s construction skill shortage is all but over, saying a dramatic turnaround in the labour market had led to productivity gains and an end to fears that a lack of skilled workers could lead to missed deadlines or project cost blowouts.
WA’s peak farming organisation has revealed details of its declining financial position as it grapples with a new funding model as part of the biggest shake-up in its 102-year history.
Empire Oil & Gas auditors have flagged the company is considering a capital raising to pay for repairs to the Red Gully gas-condensate plant, near Gingin, and to cover future exploration costs.