Bowen confronts a gloomy outlook
Labor's new economic team under Chris Bowen has been confronted with a worsening growth outlook as the International Monetary Fund slashes forecasts for our key trading partners and domestic business conditions sink to the worst level since the global financial crisis. The Aus
Unions demand a say in Labor leadership
Trade unions are urging Kevin Rudd to change his proposed leadership reform and give them a say in choosing the Labor leader, and are not ruling out trying to force a change after the election if the Prime Minister disagrees. The Fin
Miners nervous of anti-bribery laws
Australian mining companies operating in Africa have warned Australia's political leaders against following Canada and implementing changes to anti-corruption and bribery laws that they believe will make it much harder to do business on the continent. The Fin
Minister denies Barnett LNG rift
Federal Resources Minister Gary Gray has moved to dispel rumours of a rift between himself and West Australian Premier Colin Barnett over how best to develop the resource- rich state’s LNG reserves, and warned Australian gas faces increasingly stiff competition from foreign suppliers. The Aus
Firms cut back on space
A year ago Perth tenants were scrambling for space in the CBD, but tumbling commodity prices and redundancies in the past 12 months have realigned WA companies with their eastern states counterparts who have been cutting costs and searching for new ways to create value from real estate assets since the global financial crisis. The West
Top Resources Headlines
Miners nervous of anti-bribery laws
Australian mining companies operating in Africa have warned Australia's political leaders against following Canada and implementing changes to anti-corruption and bribery laws that they believe will make it much harder to do business on the continent. The Fin
Minister denies Barnett LNG rift
Federal Resources Minister Gary Gray has moved to dispel rumours of a rift between himself and West Australian Premier Colin Barnett over how best to develop the resource- rich state’s LNG reserves, and warned Australian gas faces increasingly stiff competition from foreign suppliers. The Aus
Mine boss sues investors
Korab Resources managing director Andrej Karpinksi has joined the ranks of junior resources company executives to launch legal action against their own shareholders over allegedly defamatory comments made on stock market chat boards and email discussion groups. The West
Mining services companies down $12bn as work dries up
A total of $12 billion has been wiped from the value of Australian listed mining- services companies in six months as industry expansion work comes off the boil. The Aus
Northern Star to hold fire on Ashburton
Northern Star Resources Ashburton project will stay on the sidelines until the gold price stabilises, according to managing director Bill Beament, who said wild swings in the commodity price were making it difficult to assess the value of both development projects and acquisitions. The West
Top Politics Headlines
Bowen confronts a gloomy outlook
Labor's new economic team under Chris Bowen has been confronted with a worsening growth outlook as the International Monetary Fund slashes forecasts for our key trading partners and domestic business conditions sink to the worst level since the global financial crisis. The Aus
Unions demand a say in Labor leadership
Trade unions are urging Kevin Rudd to change his proposed leadership reform and give them a say in choosing the Labor leader, and are not ruling out trying to force a change after the election if the Prime Minister disagrees. The Fin
Palmer circus rolls into town
Clive Palmer's circus again descended on Perth yesterday as he revealed a former AFL footballer, a former One Nation MLC and three of his employees were among 15 West Australians who would run for his Palmer United Party at the federal election. The West
Top Property Headlines
Firms cut back on space
A year ago Perth tenants were scrambling for space in the CBD, but tumbling commodity prices and redundancies in the past 12 months have realigned WA companies with their eastern states counterparts who have been cutting costs and searching for new ways to create value from real estate assets since the global financial crisis. The West
$5m cost of Chinese takeaway
The Barnett government has paid the owners of a popular Perth Chinese restaurant, the Grand Palace, at least $5 million to close its doors. The West
Banks' role in funding under threat
The traditional role of Australian banks to fund mortgages, business and infrastructure is under threat from new regulation, the growing superannuation pool and emerging technology. The Fin
Aspen Group quits Dunsborough Lakes Estate land
Aspen Group's exit from the land development market is continuing with the sale of 70ha of land at Dunsborough Lakes Estate. The West
The West Australian
Page 3: The Barnett government has paid the owners of a popular Perth Chinese restaurant, the Grand Palace, at least $5 million to close its doors.
Page 10: Clive Palmer's circus again descended on Perth yesterday as he revealed a former AFL footballer, a former One Nation MLC and three of his employees were among 15 West Australians who would run for his Palmer United Party at the federal election.
Page 11: Drought-stricken farmers are desperately trying to sell their sheep as they run out of feed and water after barely receiving a drop of rain in the first half of winter.
Page 16: WA Labor Party members are likely to get a say in choosing the state leader as Kevin Rudd's return as Prime Minister boost the Australian Labor Party's stocks in key Perth electorates.
Tony Abbott says he was given a clean bill of health by the federal government for the cost of travel linked to a book tour after arranging for almost $9,400 of taxpayer-funded perks to be repaid.
Business: Korab Resources managing director Andrej Karpinksi has joined the ranks of junior resources company executives to launch legal action against their own shareholders over allegedly defamatory comments made on stock market chat boards and email discussion groups.
Albany's The Rare Coin Company has collapsed, owing millions of dollars to creditors.
The stock market's dismal finish to the financial year dragged listed broker Euroz to a second half loss, nearly halving annual earnings.
WA farmers have hailed the live export industry for preventing a disastrous plunge in sheep prices in the rush to de-stock properties running out of feed and water.
The Steel Institute is hopeful the fall in the Australian dollar will lead to an upswing in the sector, as unemployment in the manufacturing heartland of Kwinana hits double digits.
Northern Star Resources Ashburton project will stay on the sidelines until the gold price stabilises, according to managing director Bill Beament, who said wild swings in the commodity price were making it difficult to assess the value of both development projects and acquisitions.
A year ago Perth tenants were scrambling for space in the CBD, but tumbling commodity prices and redundancies in the past 12 months have realigned WA companies with their eastern states counterparts who have been cutting costs and searching for new ways to create value from real estate assets since the global financial crisis.
Aspen Group's exit from the land development market is continuing with the sale of 70ha of land at Dunsborough Lakes Estate.
The Australian Financial Review
Page 1: The traditional role of Australian banks to fund mortgages, business and infrastructure is under threat from new regulation, the growing superannuation pool and emerging technology.
The need for governments to build hospitals and roads will prevent prices of infrastructure assets from entering bubble territory, Australia's biggest infrastructure manager says.
Trade unions are urging Kevin Rudd to change his proposed leadership reform and give them a say in choosing the Labor leader, and are not ruling out trying to force a change after the election if the Prime Minister disagrees.
Page 3: Large emerging market economies are leading a downturn in global economic growth which the International Monetary Fund says requires new government action to boost momentum.
Page 4: Prime Minister Kevin Rudd have given the Labor Party a “once in a generation opportunity to re-engage with members”, says the co-ordinator of a group that has been pushing for structural changes for the past three years.
The Liberal and National parties may be forced to follow Prime Minister Kevin Rudd's reforms allowing rank and file members to help pick the party leader after overseas experience shows such grassroots reforms dramatically increase party memberships.
Page 6: The probability of a Labor election victory has risen to an average 27.4 per cent – its highest level since Kevin Rudd's return as Prime Minister – according to bookmakers.
Page 9: Resources Minister Gary Gray has called for the greater exploitation of the nation's natural gas resources, warning that emerging markets in Russia and East Africa threaten to eat into the Asian market for Australian gas.
Page 10: Business conditions are at their worst level in four years, a National Australia Bank survey has found, and an interest rate cut at the next possible opportunity is now more likely than not.
Page 12: Major wheat exporter CBH has obtained a court order designed to disrupt any industrial action at its Perth grain handling facilities in the midst of a union pay dispute that could result in 100 unskilled workers getting paid up to $100,000 a year.
Page 15: Chinese coal company Yanzhou may face opposition from investors and independent directors over a politically-sensitive strategy to change an agreement with the government as part of a $200 million bid to privatise its locally-listed subsidiary, Yancoal Australia.
Page 17: Australian mining companies operating in Africa have warned Australia's political leaders against following Canada and implementing changes to anti-corruption and bribery laws that they believe will make it much harder to do business on the continent.
The Australian
Page 1: Labor's new economic team under Chris Bowen has been confronted with a worsening growth outlook as the International Monetary Fund slashes forecasts for our key trading partners and domestic business conditions sink to the worst level since the global financial crisis.
Kevin Rudd has declared he will not seek to undo Julia Gillard’s controversial ‘‘ captain’s pick’’ of indigenous Olympian Nova Peris to top the Northern Territory’s Labor Senate ticket, despite repeated calls from veteran indigenous Labor figures for a rank-and-file ballot.
Kevin Rudd’s plan to throw open the election of the federal Labor leader to members has sparked a row over union influence in the party, with the ALP vice- president calling for unions to be dealt into the ballot and former NSW premier Morris Iemma insisting he go further in cutting the power of the labour movement.
Outgoing Labor veteran and Rudd supporter Simon Crean and his wife have taken a taxpayerfunded parliamentary trip to Europe just months before he leaves his job.
Page 2: The Rudd government has used Tasmania’s signing of the Gonski education funding model to demand the Coalition back the changes, claiming they are irreversible, with 63 per cent of schoolchildren and four jurisdictions now covered.
Clive Palmer believes he would be congratulated by half the country for his expletive- laden tirade against a Chinese mining executive but also claims he was taken out of context.
Page 4: Police have prevented a boatload of Sudanese from embarking for Christmas Island, as the number of UN- registered asylum-seekers and refugees in Indonesia has topped 10,000.
Tony Abbott has accused Kevin Rudd of back- flipping on his promise to promote kinder and gentler politics and ‘‘ dishing dirt’’ about expenses the Opposition Leader is reported to have wrongly claimed during a tour for his 2009 book Battlelines.
Page 5: Holden wants up to $ 60 million in extra federal taxpayer-funded assistance as it intensifies contract negotiations with Labor before Kevin Rudd sets a new election date.
Business: Chinese giant Yanzhou Coal Mining has set a new test for Australia’s foreign ownership laws after moving on its Australian vehicle — the biggest Chinese-controlled entity listed in Australia — in a $ 200 million deal to privatise the company.
Australia's high- cost aluminium production is in the firing line amid sliding prices, with global giant Alcoa for the first time confirming that its Victorian smelters are prime targets for capacity closures and Rio Tinto being urged to cut production from local assets.
Supermarket giants Coles and Woolworths are still months away from reaching an agreement with grocery suppliers over a code of conduct designed to prevent them from abusing their market power.
Australia should be welcoming foreign investment in agricultural companies because multinational corporations will guarantee export products better access to new markets and others the nation has been seeking to build for decades, GrainCorp director Donald McGauchie says.
China saw an upturn in consumer inflation in June, but it wasn’t enough to alarm policy-makers grappling with sluggish economic growth and trying to push ahead with longer- term economic overhauls.
Oil and gas giant Royal Dutch Shell has named Ben van Beurden, the current director of its refining and marketing operations, as its new chief executive to replace retiring chief Peter Voser.
Telstra's main unions have slammed the telco giant and signalled industrial action after it announced another round of redundancies that will send 170 full- time jobs offshore to India in a contract with technology giant Infosys.
Federal Resources Minister Gary Gray has moved to dispel rumours of a rift between himself and West Australian Premier Colin Barnett over how best to develop the resource- rich state’s LNG reserves, and warned Australian gas faces increasingly stiff competition from foreign suppliers.
Rio Tinto is expected to reveal a hit of up to two million tonnes at its Pilbara iron ore operations in Western Australia in its quarterly report next week, but it is well positioned to make up the lost volumes later in the year.
A total of $12 billion has been wiped from the value of Australian listed mining- services companies in six months as industry expansion work comes off the boil.
