Palmer’s brawl with China hurting economy: Barnett
Clive Palmer is damaging relations with China and harming the national economy, West Australian Premier Colin Barnett declared yesterday in a blistering attack on the man who will hold the balance of power in the Senate. The Aus
Hancock signs over Rhodes ore
The marathon battle for control of the giant Rhodes Ridge iron ore deposit in the Pilbara is finally over, with Gina Rinehart’s Hancock Prospecting believed to have signed over its 25 per cent interest to the heirs of her father’s business partner. The West
WA to intervene in Port Hedland dispute
The Western Australian government is preparing a legal case to stop Port Hedland tugboat deckhands from striking. The Fin
Virgin picks up two F100s after BHP contract win
Virgin Australia Regional Airlines will expand its Fokker 100 fleet by two aircraft to 12 – the same as Qantas Airways -owned rival Network Aviation – to serve a fresh three-year charter contract with BHP Billiton’s iron ore division in Western Australia. The Fin
Chaney blasts uni fee protests
University of WA chancellor Michael Chaney has blasted “blinkered” left-wing student protesters, saying he is bewildered they are fighting against the Abbott Government’s push to raise the cost of degrees. The West
Expert warns of debt danger
The former head of the World Trade Organisation has lauded Australia’s political culture for focusing on the future impacts of today’s budget decisions, but suggested the economy’s reliance on commodities means it cannot afford debt to hit European levels. The Fin
Rio’s new set of hurdles in Guinea
Rio Tinto faces a battle to ensure its Simandou iron ore project in Guinea proceeds, with fund managers and analysts questioning who will provide the $US13 billion ($14 billion) in infrastructure financing that will underpin the project. The FIn
Indigenous firms missing out
Aboriginal employers receive only $6 million of the $39 billion in government work that is tendered out, prompting Tony Abbott’s parliamentary secretary for indigenous affairs to declare the government is failing to provide them with enough work. The Aus
The Australian Financial Review
Page 1: Corporate chiefs have called on politicians to stop bickering and get on with economic reform, saying that the hostile Senate’s threat to stifle fiscal repair was undermining business confidence.
Australia’s corporate watchdog has expanded its corruption inquiry targeting Leighton Holdings beyond the Middle East, with investigators now probing suspect commissions and alleged corporate misconduct in India.
Page 3: In an attempt to steal viewers from regular television, Google has launched the long-awaited Chromecast device in Australia.
Page 4: Liberal MP Peter Hendy believes the government must not increase the GST, warning it would be of insignificant economic benefit and the political consequences could be “horrendous’’.
Page 7: The former head of the World Trade Organisation has lauded Australia’s political culture for focusing on the future impacts of today’s budget decisions, but suggested the economy’s reliance on commodities means it cannot afford debt to hit European levels.
Page 8: The Australian Securities and Investments Commission will target analyst research after identifying cases where listed companies may have intentionally disclosed confidential data during invitation-only briefings.
Page 10: The Western Australian government is preparing a legal case to stop Port Hedland tugboat deckhands from striking.
Page 15: Rio Tinto faces a battle to ensure its Simandou iron ore project in Guinea proceeds, with fund managers and analysts questioning who will provide the $US13 billion ($14 billion) in infrastructure financing that will underpin the project.
High unemployment rates, shaky consumer confidence and rising mental health problems are driving a barrage of claims across Australia’s life insurance industry, with Suncorp Group the latest insurer to issue a $500 million write-down as the problems take a toll on the business.
SAI Global’s largest shareholder, Perpetual, says it expects the takeover target’s global peers will run the rule over its business units, and has declared it is a seller if the price is right.
Page 17: Horizon Oil’s Papua New Guinea oil and gas assets have emerged as a key concern for Roc Oil shareholders in their assessment of the companies’ controversial $800 million merger plan.
Australia’s major supermarket chains will soon face the same digital disruption that has carved a swath through discretionary retail sectors such as electronics, books and homewares.
Page 21: Virgin Australia Regional Airlines will expand its Fokker 100 fleet by two aircraft to 12 – the same as Qantas Airways -owned rival Network Aviation – to serve a fresh three-year charter contract with BHP Billiton’s iron ore division in Western Australia.
The Australian
Page 1: Clive Palmer is damaging relations with China and harming the national economy, West Australian Premier Colin Barnett declared yesterday in a blistering attack on the man who will hold the balance of power in the Senate.
The Abbott government will spurn calls to scale back its major budget reforms, in a new vow to confront Labor over $40 billion in savings to be stymied in the Senate.
Page 4: Aboriginal employers receive only $6 million of the $39 billion in government work that is tendered out, prompting Tony Abbott’s parliamentary secretary for indigenous affairs to declare the government is failing to provide them with enough work.
Page 6: A $1 billion budget blunder has exposed Victorian Labor to months of pre-election questioning over its financial credibility after it falsely claimed the 2013-14 state budget was in “tatters’’.
Page 19: Suncorp chief Patrick Snowball has warned that the life insurance industry may face four more years of pain, after writing off $500 million from its business and downgrading the group’s revenue outlook amid muted growth.
Lachlan Murdoch has explained the reasons behind his decision to re-join his father Rupert at the helm of News Corporation and 21st Century Fox, and revealed the return “felt right emotionally” after a nine year absence.
Puma Energy, an aggressive new entrant into the fuel sector, says it expects more closures in Australia’s rapidly shrinking oil refinery sector, turning the nation into Asia’s biggest fuel import market and underpinning up to $250 million of planned infrastructure spending.
Page 20: Exxon Mobil and BHP Billiton will start their sixth decade of one of the nation’s longest-standing corporate partnerships with a fresh look at the exploration potential of the Bass Strait oil and gas fields that have so far provided an estimated $300 billion to federal government coffers.
Page 28: University students get such a good deal they should give chocolates and flowers to taxpayers, as Education Minister Christopher Pyne told shock jock Alan Jones last week.
The West Australian
Page 3: University of WA chancellor Michael Chaney has blasted “blinkered” left-wing student protesters, saying he is bewildered they are fighting against the Abbott Government’s push to raise the cost of degrees.
Page 4: The millions of people affected by the Budget are to be targets of Government “information campaigns” but Tony Abbott insists there will not be a broad-scale advertising campaign.
Page 6: Rates in some Perth councils are “getting out of control” in part because small councils can be less efficient than their bigger counterparts, according to Colin Barnett.
Page 10: East Perth pedestrians were yesterday taken aback that a drab, derelict brick building on the corner of Hay Street was being protected from demolition on their behalf under heritage laws.
Page 13: Principals say teachers are being swamped by an increasing number of emails from demanding parents.
Page 14: Liberal elder Norman Moore is weighing a run at the soon-to-be vacant presidency of the WA branch of the party.
Page 16: WA is on track for a record number of new homes but the economy is facing increasing headwinds from spooked consumers as their personal finances get squeezed.
Business: The marathon battle for control of the giant Rhodes Ridge iron ore deposit in the Pilbara is finally over, with Gina Rinehart’s Hancock Prospecting believed to have signed over its 25 per cent interest to the heirs of her father’s business partner.
CBH is dipping its toes into the Black Sea as part of a global approach to grain marketing that saw it open a US office this year.
BHP Billiton has confirmed that a review will lead to job cuts at Worsley Alumina.
