12/07/2013 - 06:46

Morning Headlines

12/07/2013 - 06:46

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Morning Headlines

Rudd plan targets power prices

Lower energy prices through increased coal seam gas production and changes to the regulation of power prices will be pivotal to a seven-point productivity plan Prime Minister Kevin Rudd will take to the election. The Fin

Rudd stand on IR spoils olive branch to business

Business groups have rejected Kevin Rudd’s declaration that Labor’s industrial relations laws strike the right balance and have demanded tax reform as the Prime Minister unveiled a seven- point plan to lift national productivity. The Aus

Iron shortage looms with Rio tipped to delay plans

Rio Tinto appears increasingly likely to delay a $ 5.4 billion iron ore mine expansion in Western Australia, possibly leaving global iron ore markets under-supplied and backing up claims by new Arrium chief Andrew Roberts that pundits predicting price slumps are factoring in too much new supply. The Aus

Hancock confident of $7bn boost to Roy Hill

After meeting with banks, Gina Rinehart's Hancock Prospecting said it was confident of securing $7 billion in finance for its Roy Hill iron ore project in what would be the biggest capital raising of its kind in mining history. The Fin

Barnett refuses to reveal rail documents

The state government has declared West Australians do not have the right to know how it came to decide to commit $3.7 billion of public money to its election-defining rail projects. The West

Chevron warns of drop in output

Chevron's oil and gas business is set for a year- over- year drop i n the second quarter as lower crude prices and equipment maintenance take a toll. The Aus

Battle of Freo as plaza is opposed

Fremantle is in danger of becoming a “museum city” and a relic if it does not embrace change and draw more families back to the port city, according to its civic leader. The West

Green light for $1b towers plan

Perth's tallest apartment block and two other skyscrapers have been given the green light to be built on the former Emu Brewery site. The West

Barnett takes tough line with Woodside

West Australian Premier Colin Barnett will oppose a request by Woodside Petroleum to alter a gas lease to allow the company's huge Browse gas processing plant to be built offshore. The Fin

Rent rises unlikely, say agents

The Real Estate Institute of WA has dismissed reports Perth is on track to become the most expensive capital city in the country for tenants. The West

 

The West Australian

Page 1: Fremantle is in danger of becoming a “museum city” and a relic if it does not embrace change and draw more families back to the port city, according to its civic leader.

Page 3: Perth's tallest apartment block and two other skyscrapers have been given the green light to be built on the former Emu Brewery site.

Page 5: Former premier Peter Dowding has launched an attack on rail authorities, saying disruptions caused by the shutdown of the metropolitan train network could have been minimised with better planning.

Page 6: Kevin Rudd will establish a productivity pact between government, business and unions to safeguard the economy after the mining boom in a plan that pilfers aspects of coalition policy.

WA has seemingly defied a nationwide weakening in the jobs market, which has sent unemployment beyond 8 per cent in Tasmania and put pressure on the Reserve Bank to further cut interest rates.

Page 7: The state government has declared West Australians do not have the right to know how it came to decide to commit $3.7 billion of public money to its election-defining rail projects.

Page 18: The Real Estate Institute of WA has dismissed reports Perth is on track to become the most expensive capital city in the country for tenants.

Page 22: The Liquor Commission has approved two bottle shop applications in Mundaring from retail giants Woolworths and Coles, despite strong objections from police that the stores could be harmful and cause public disorder.

Page 32: A Kimberley council has blamed part of a potential $8 million budget deficit on compiling detailed reports relating to the shelved James Price Point gas hub, 50km north of Broome.

Business: Gina Rinehart plans to build an iron ore mine on her family's cattle station in the Pilbara, a stone's throw from the homestead in which her father was raised.

Two months after quitting Woodside Petroleum, erstwhile Browse gas project boss Michael Hession has re-emerged at the helm of a US company hoping to join Papua New Guinea's LNG rush.

The potato industry regulator has dropped charges against Spud Shed king Tony Galati like a hot potato.

Peter Kambouris' aggressive expansion of his Kambos retailing empire has continued, in defiance of lacklustre trading conditions, with the official opening tomorrow of his eighth store.

There was more sombre news for WA's gold sector yesterday when embattled miner Newcrest told staff at its Telfer mine they should brace for job losses next year.

Troy Resources has closed out its three-month pursuit of fellow South American gold play Azimuth Resources, saying yesterday it had issued Azimuth's remaining shareholders compulsory acquisition notices.

Poseidon Nickel managing director David Singleton said a major resource upgrade announced by the company yesterday added weight to its chances of winning the $200 million in debt funding needed to build its Mt Windarra nickel mine.

 

The Australian Financial Review

Page 1: Lower energy prices through increased coal seam gas production and changes to the regulation of power prices will be pivotal to a seven-point productivity plan Prime Minister Kevin Rudd will take to the election.

After meeting with banks, Gina Rinehart's Hancock Prospecting said it was confident of securing $7 billion in finance for its Roy Hill iron ore project in what would be the biggest capital raising of its kind in mining history.

West Australian Premier Colin Barnett will oppose a request by Woodside Petroleum to alter a gas lease to allow the company's huge Browse gas processing plant to be built offshore.

Page 4: Energy reform has been put at the top of the federal government's political agenda by Prime Minister Kevin Rudd after the Productivity Commission criticised the previous effort by his predecessor Julia Gillard.

Page 6: Prime Minister Kevin Rudd's target of 2 per cent productivity growth a year is close but could be hard to sustain over the long term.

Page 7: Australia's unemployment rate rose to 5.7 per cent in June as the number of jobs created could not keep up with the number of people entering the workforce.

Page 8: China's economy could be in for a hard landing and trigger a broader global recession unless Beijing's leaders carefully address structural imbalances, a leading analyst warns.

Page 10: The federal government is closing in on a deal to provide GM Holden with extra cash, at the same time as a split has reopened on the Coalition front-bench on whether to provide assistance to the troubled automotive sector.

Page 13: ANZ Banking Group deputy chief executive Graham Hodges has called for Asian countries to play a larger role in setting international financial rules.

Page 15: Leighton Holdings' chief executive, Hamish Tyrwhitt, has defended the increasingly close relationship between the Australian contractor and its Spanish parent, Grupo ACS, arguing there are “incredible benefits and synergies” to be gained by becoming part of ACS's global empire.

Page 16: Andrew Forrest-chaired Poseidon Nickel is persevering with efforts to arrange $200 million in funding to restart the historic Mt Windarra nickel mine in the West Australian Goldfields.

Page 29: Attempts by the government of Western Australia and the state's economic regulator to compel iron ore miners to share crucial infrastructure in the Pilbara are futile, Premier Colin Barnett has indicated.

 

The Australian

Page 1: Business groups have rejected Kevin Rudd’s declaration that Labor’s industrial relations laws strike the right balance and have demanded tax reform as the Prime Minister unveiled a seven- point plan to lift national productivity.

Labor faces terminal decline unless it embraces ‘‘wholesale modernisation’’ of its organisational structure, philosophy and policies, says Chris Bowen in a new book that argues that the party’s decline cannot be dismissed as a ‘‘ cyclical phenomenon’’.

Page 2: Qantas yesterday advanced its campaign against Tourism Australia and former chief executive Geoff Dixon with a $ 12 million co- operative tourism marketing deal with the Queensland government.

Page 4: Queensland has asked Kevin Rudd to substantially change Julia Gillard’s conditions on the Gonski reforms, seeking an extra $670 million for next year and the dropping of “Canberra- centric’’ powers of intervention for the federal education minister.

Page 6: Former Labor Party president and indigenous leader Warren Mundine has accused Kevin Rudd of trying to destroy two years of work to create bipartisan support for an indigenous recognition referendum.

Page 7: Prospective local candidates and some union leaders are mounting a late fightback against expected intervention by the ALP national executive to stop rank-and-file pre-selections in four seats in NSW and Victoria.

Page 8: Kevin Rudd has conceded his party reforms on the selection of the leader could be eased if Labor is in opposition, particularly a condition requiring a petition signed by 75 per cent of the caucus to force a spill.

Business: National Australia Bank has formed a landmark relationship with China’s biggest agricultural group to help farmers tap into the booming nation’s growth, in a sign the banks are upping efforts to cash in on Australia’s next potential boom in food.

The besieged Australian dollar enjoyed some respite yesterday as US Federal Reserve chairman Ben Bernanke gave financial markets hope his signature bond buying program would continue until the middle of next year.

Rio Tinto appears increasingly likely to delay a $ 5.4 billion iron ore mine expansion in Western Australia, possibly leaving global iron ore markets under-supplied and backing up claims by new Arrium chief Andrew Roberts that pundits predicting price slumps are factoring in too much new supply.

Chevron's oil and gas business is set for a year- over- year drop i n the second quarter as lower crude prices and equipment maintenance take a toll.

Former Woodside Petroleum executive Michael Hession has been named new chief executive of Canada’s Papua New Guinea focused oil and gas company InterOil.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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