WA’s bigger stake a bonus for Woodside
Woodside Petroleum chief executive Peter Coleman says the prospect of the Barnett Government controlling a bigger stake in the Browse floating LNG project is positive because it should trigger alignment around “an appropriate development” of WA’s most controversial project. The West
Telstra’s big Asian push
Telstra chief executive David Thodey has embarked on a major repositioning of the company towards Asia, stating he wants one-third of the company’s profits to come from overseas in the next five years and that big acquisitions are an option. The Fin
Expert backs Woolies cash offer
The board of David Jones is standing by its endorsement of South African retailer Woolworths’ $4.00 a share takeover offer, even though an independent expert has found that David Jones shares are worth as much as $4.14. The Fin
West chalks up a public school success story
Western Australia has broken with the nation’s decade-long drift away from public education, with new enrolments in state schools now more than double those of non-government schools. The Aus
Minister queries new taxi service
Transport Minister Dean Nalder has launched an investigation into the legality of a new taxi-like service that made a surprise appearance on Perth streets this week. The West
The Australian Financial Review
Page 1: Telstra chief executive David Thodey has embarked on a major repositioning of the company towards Asia, stating he wants one-third of the company’s profits to come from overseas in the next five years and that big acquisitions are an option.
BHP Billiton chief executive Andrew Mackenzie was among several mining executives who directly lobbied the federal government against cutting the industry’s rebate for diesel excise at last week’s federal budget.
Page 3: The suspected mafia ‘‘godfather’’ of Melbourne helped bankroll a Liberal Party marginal federal seat campaign in the 2013 election, raising the prospect that the proceeds of crime have flowed into Liberal coffers.
Page 5: The $7 GP co-payment will only stop 1 per cent of people going to the doctor in its first year of operation and half that in its second, says Health Minister Peter Dutton.
Page 8: The threat of an immediate strike that would have shut down one of the nation’s busiest ports eased for at least 30 days after the Maritime Union of Australia agreed on Thursday to suspend industrial action.
Page 9: A United States expert on hydraulic fracturing has warned that Australian companies and regulators may miss the opportunity to fully extract the value of the developing shale gas industry if they are too slow and cautious because of the commercial dynamics of the global gas sector.
Page 11: Gina Rinehart and her youngest daughter, Ginia, want a court to order the Department of Immigration to reveal the international travel of her daughter, Bianca.
Page 13: The board of David Jones is standing by its endorsement of South African retailer Woolworths’ $4.00 a share takeover offer, even though an independent expert has found that David Jones shares are worth as much as $4.14.
Woodside Petroleum has pointed to potential acquisitions of up to $US5 billion and a bulked-up exploration program to satisfy market concerns about its growth prospects, while assuring investors that a capital return could also be on the cards.
Page 16: Lion’s new dairy and drinks boss Peter West says he will slash the number of products Lion puts on retail shelves as he looks to turn around the struggling business and drive sales in higher margin segments like specialty cheese.
Page 17: Insurance Australia Group is overhauling its operating model in Australia as the company prepares to absorb the $1.85 billion Wesfarmers insurance acquisition into its fold, with the changes likely leading to job losses.
The Australian
Page 1: The Coalition will introduce legislation aimed at fast-tracking the refugee claims of asylum seekers in Australia in a bid to clear the backlog of almost 25,000 boat arrivals in legal limbo.
Western Australia has broken with the nation’s decade-long drift away from public education, with new enrolments in state schools now more than double those of non-government schools.
The head of the nation’s biggest company is urging Group of 20 leaders to roll back protectionist trade barriers imposed after the financial crisis of 2008 to help boost trade by $US3 trillion ($3.2 trillion).
Page 2: The world should brace for an avalanche of Chinese investment that could leave it holding a quarter of the world’s shares by value in little more than a decade, Treasury chief Martin Parkinson says, adding that Australia is well positioned to benefit.
Page 4: Tony Abbott wants the navy’s new amphibious assault ships fitted out to carry Joint Strike Fighters — effectively turning the giant vessels into aircraft carriers.
Western Australian tugboat workers backed off last night from immediate strike action that would have cost the country an estimated $100 million a day and was shaping up as the biggest test of the Fair Work Act since Qantas grounded its entire fleet three years ago.
Page 5: The budget cuts to childcare will leave a family currently on a combined income of $135,000 a year up to $6000 worse off per child a year by 2017.
Page 19: The boss of ANZ Bank’s New Zealand operations has urged Australians to look through the short-term budget pain, labelling it crucial the country take the same “tough medicine” of major reform as across the Tasman to ensure ongoing prosperity.
News Corporation has issued the company’s strongest statement of support for print media yet, signalling that it will play a “crucial role” in multiplatform publishing for many years to come alongside fast-growing digital assets.
Page 20: Despite walking away from a recent deal, Woodside Petroleum chief Peter Coleman has not abandoned the idea of joining Israel’s big Leviathan gasfield.
Page 21: Jeff Kennett approached a “senior advisor” of Gina Rinehart about the possibility of his equity trustees taking over the management of her family’s multi-billion dollar trust fund.
Page 22: The deeply private Myer Family Company has urged its clients to remain vigilant about their risk profile, noting that while the Chinese financial reform agenda should provide a climate for short-term money-making, “the potential for asset price bubbles to form and crash is real’’.
Page 29: Qantas moves to shelve its planned domestic capacity growth at the start of next financial year have received a thumbs up from investors and analysts hoping for a more rational market and a bottoming out of the airline’s losses.
Page 31: The federal government is planning a crackdown on plaintiff law firms that it says are launching opportunistic class actions primarily for personal gain.
The West Australian
Page 3: Education Minister Peter Collier has accused public schools of hoarding money instead of spending it on their students at a time when schools are crying poor.
Page 5: Network Ten’s Perth newsroom could lose at least 10 full-time staff through tough cost-cutting measures announced by the station on Wednesday.
Page 6: The State Government has revealed the projected impact of tough new burglary laws on already crammed prisons — 266 more inmates over four years.
Page 7: Former Labor resources minister Gary Gray says the maritime union’s “over-the-top” demands in its Port Hedland dispute are against the national interest.
Page 9: Transport Minister Dean Nalder has launched an investigation into the legality of a new taxi-like service that made a surprise appearance on Perth streets this week.
Page 16: Fatalities on WA’s regional roads are at a four-year high, with the number of single vehicles crashing after running off the road almost twice as high in the country as in the city.
Page 22: Police have failed in their attempt to make a Northbridge nightclub close early to curb alcohol-related crime, despite evidence there is a serious assault inside the venue every three weeks.
Business: Woodside Petroleum chief executive Peter Coleman says the prospect of the Barnett Government controlling a bigger stake in the Browse floating LNG project is positive because it should trigger alignment around “an appropriate development” of WA’s most controversial project.
Financial planners have declared opposition to the Abbott Government’s planned changes to advice laws, warning they cannot support them in their current form.
