BHP Billiton’s $20bn spin-off plan welcomed
Investors have welcomed news BHP Billiton is considering spinning off many of its non-core assets including aluminium, nickel and bauxite in a transaction that could create a new $20 billion resources company that would be handed back to shareholders. The Fin
Curtin in $100m food research deal
Curtin University is positioning itself to become a key player in farming and the global food boom after securing one of the biggest investment deals in its history. The West
Major parties fear poll apathy
Up to half a million West Australians who fail to vote could determine the final outcome of Saturday’s Senate re-run election. The West
Nemex splits vision: iron ore, biometric
Perth-based Nemex Resources has become the latest small-cap miner to jump headfirst into the tech sector, yesterday announcing a $1.8 million deal to gain a majority stake in an eye-scanning security company. The West
Palmer coughs up ahead of WA Senate poll
After almost a year of holding out, federal MP Clive Palmer says he has paid his multi-million-dollar carbon tax bill, days before Senate re-elections in Western Australia. The Fin
Hockey faces $60bn hole
Savings in excess of $60 billion a year will have to be found by 2023-24 for the Abbott government to reach its surplus target, with the Commission of Audit presenting a bleaker outlook for tax revenue than was contained in the midyear budget update. The Aus
Parmalat’s $120m spend the first step
Parmalat Australia chief executive Craig Garvin says the French-owned dairy giant will keep hunting for quality acquisitions after its $120million acquisition of Western Australia’s biggest dairy exporter, Harvey Fresh. The Fin
The Australian Financial Review
Page 1: Right on cue, the MUA seems intent on threatening massive disruption by fighting over the already highly paid conditions of a small number of employees in key positions.
Investors have welcomed news BHP Billiton is considering spinning off many of its non-core assets including aluminium, nickel and bauxite in a transaction that could create a new $20 billion resources company that would be handed back to shareholders.
Page 3: Thérèse Rein faces a multimillion--dollar payday after selling her multinational jobseeker company, Ingeus, to a US employment firm in a deal worth as much as $US206 million ($222 million).
Page 4: After almost a year of holding out, federal MP Clive Palmer says he has paid his multi-million-dollar carbon tax bill, days before Senate re-elections in Western Australia.
The Abbott government remains confident of agreeing to a trade deal with Japan next week despite an Australian-led ban on whaling and the fact that the details of the deal are still being negotiated.
The Western Australian business community wants a Senate willing to work with government to toughen industrial relations rules, the state’s chamber of commerce says.
Page 6: The Reserve Bank of Australia may be forced to raise interest rates sooner than predicted if house prices continue rising, after first-quarter figures showed big capital gains across most capital cities.
Page 15: Echo Entertainment and James Packer’s Crown Resorts will face tough competition from domestic and international consortiums vying to build a new$1billion-plus casino at the Queens Wharf development in Brisbane.
Parmalat Australia chief executive Craig Garvin says the French-owned dairy giant will keep hunting for quality acquisitions after its $120million acquisition of Western Australia’s biggest dairy exporter, Harvey Fresh.
Page 18: Qantas Airways says passengers have given its alliance with Emirates a “clear stamp of approval” as it celebrates the partnership’s one-year anniversary, but has stopped short of pointing to any financial benefits for its ailing international division.
Page 24: Engineering and construction group Lend Lease is on the cusp of a boom similar to that which drove substantial earnings growth 10 years ago, courtesy of a near to medium-term acceleration in infrastructure spending.
The Australian
Page 1: Savings in excess of $60 billion a year will have to be found by 2023-24 for the Abbott government to reach its surplus target, with the Commission of Audit presenting a bleaker outlook for tax revenue than was contained in the midyear budget update.
Page 3: Churches will be barred from offering “easy access” bank-style accounts to their parishioners amid tough new restrictions proposed by the national regulator in a crackdown on more than $1 billion in investments held in unregulated church-run funds.
Page 4: Commercial media such as News Corp Australia are still setting the news agenda, despite recent online media entrants from overseas and depictions of the ABC as “all-conquering” and “audience-snatching”, says ABC managing director Mark Scott.
Page 6: Clive Palmer has been accused of “spending money like a drunken sailor” to secure a third Senate seat for his party, as independent monitoring indicated the Queensland MP was outspending Labor and the Liberals 10-to-one on television advertising.
The Greens will today unveil legislation to move single parents from the dole back on to the higher-paying parenting payments.
Page 19: BHP Billiton has introduced competitive tension into its long-planned divestment of non-core aluminium, coal and nickel assets by flagging to possible trade and private equity buyers that it might bypass them and bundle the assets into a $US15 billion to $US20bn ($16.2bn-$21.6bn) demerger.
Golf legend Greg Norman jetted into Brisbane yesterday to launch a $2 billion development of Queensland’s Great Keppel Island, declaring his golf courses often serve as economic bellwethers.
ANZ Bank has hit back at a push by smaller rivals for an overhaul of key rules dictating the lucrative $1.3 trillion mortgage market, as major players stake their claim ahead of the first inquiry into the financial system in 17 years.
Australia is unlikely to face fierce competition from shale gas exports out of the US in the short term according to the International Gas Union, which says the country’s opportunity lies in exporting liquefied natural gas to Asia.
The West Australian
Page 1: Bill Shorten has made a major pitch at broadening Labor’s electoral appeal, unveiling a plan to greatly relieve small business pestered by unnecessary paperwork.
Page 4: Up to half a million West Australians who fail to vote could determine the final outcome of Saturday’s Senate re-run election.
Page 6: Christine Milne has brushed off suggestions her hold on the Greens leadership could be in jeopardy should Senator Scott Ludlam fail to hold his seat in this weekend’s poll.
Page 7: The crowd stretched as far as the eye could see down St Georges Terrace as thousands turned out to vent anger at school cuts.
Page 9: Curtin University is positioning itself to become a key player in farming and the global food boom after securing one of the biggest investment deals in its history.
An acceleration in house values across the nation, including record highs in Perth, has failed to scare the Reserve Bank into lifting interest rates.
Business: Automotive Holdings Group is closing in on a deal to sell the retail arm of its Covs Parts business to national auto parts seller Burson Group.
Aggressive and unrealistic bidding on projects by the collapsed Forge Group contributed to plunging margins for contractors, according to the boss of a rival engineering company.
Perth-based Nemex Resources has become the latest small-cap miner to jump headfirst into the tech sector, yesterday announcing a $1.8 million deal to gain a majority stake in an eye-scanning security company.
Miners were spared a steeper drop on the sharemarket yesterday as base metals and iron ore prices rallied on Chinese stimulus hopes.
