Poli bows to Bao, as MinRes licks wounds
Perth group Mineral Resources is mulling the difficult choice between staying on as an unwanted minority shareholder in takeover target Aquila Resources, or blowing $18 million by exiting days after raiding the junior’s register and launching a counter-bid. The Fin
Rio joins Fortescue in cutting iron ore prices
Rio Tinto has been forced to heavily discount its low-grade iron ore just days after Fortescue Metals Group cut prices, amid surging supply and weak demand from Chinese steel mills. The Fin
Investors to be ‘shut out’
Companies will no longer want to give briefings to analysts and fund managers following a $1.2 million fine against Newcrest Mining for selectively briefing analysts, the company’s adviser, Maurice Newman, said. The Fin
Reform and trade key to LNG bonanza
Australia risks missing out on billions of dollars in liquefied natural gas exports to lower cost competitors unless the Abbott government pursues economic and workplace reform and freer trade, says Chevron Australia managing director Roy Krzywosinski. The Fin
ABS not the final word on smoking
Supporters of Labor’s plain cigarette packaging policy have latched on to the Australian Bureau of Statistics’ national accounts to make their case. The Aus
Sundance chairman upbeat on funding
Falling iron ore prices and a dwindling share price have done little to dent the enthusiasm of Sundance Resources chairman George Jones, who has set a tight timetable for the group’s ambitious $4.5 billion fundraising efforts. The Aus
The Australian Financial Review
Page 1: Companies will no longer want to give briefings to analysts and fund managers following a $1.2 million fine against Newcrest Mining for selectively briefing analysts, the company’s adviser, Maurice Newman, said.
Woolworths’ $2.2 billion acquisition of David Jones is in danger of collapse after rag trader Solomon Lew confirmed he had a 9.9 per cent strategic stake ahead of a crucial shareholder meeting in less than two weeks.
Page 3: Supermarket chain Coles faces fines of up to $1.1 million after a court found it misled customers when it advertised pre-cooked bread as baked fresh.
Page 4: The federal government will send $5 million in aid to Iraq in what is expected to be the first of several contributions to assist in the escalating crisis, both humanitarian and military.
Page 6: Labor’s former key adviser on climate change has cast doubt over the opposition’s ability to produce a sound policy to reduce greenhouse gas emissions.
Page 7: Australia risks missing out on billions of dollars in liquefied natural gas exports to lower cost competitors unless the Abbott government pursues economic and workplace reform and freer trade, says Chevron Australia managing director Roy Krzywosinski.
Page 19: Perth group Mineral Resources is mulling the difficult choice between staying on as an unwanted minority shareholder in takeover target Aquila Resources, or blowing $18 million by exiting days after raiding the junior’s register and launching a counter-bid.
Page 21: Woodside Petroleum’s shares suffered their biggest drop for over two years on Wednesday despite an otherwise warm reception from the market to Royal Dutch Shell’s $US5 billion ($5.3 billion) process to reduce its stake to about 4.5 per cent.
Page 22: Rio Tinto has been forced to heavily discount its low-grade iron ore just days after Fortescue Metals Group cut prices, amid surging supply and weak demand from Chinese steel mills.
The Australian
Page 1: Supporters of Labor’s plain cigarette packaging policy have latched on to the Australian Bureau of Statistics’ national accounts to make their case.
Page 2: Bill Shorten has been accused of handing thousands of dollars in cash to a Victorian Labor “branch stacker” to pay for ALP memberships.
Page 5: Taxpayers are set to foot a legal bill of almost $3 million following a decision by James Ashby to drop a lawsuit against former speaker Peter Slipper.
Page 6: Tony Abbott has been handed his first double-dissolution trigger after a bill to scrap the Clean Energy Finance Corporation was rejected for a second time in the Senate but the government is unlikely to use it.
Page 20: Woodside Petroleum’s decision to spend $US2.68 billion ($2.86bn) buying back a slab of Royal Dutch Shell’s stake in the company is likely to complicate its efforts to secure a new growth project, analysts have warned.
Falling iron ore prices and a dwindling share price have done little to dent the enthusiasm of Sundance Resources chairman George Jones, who has set a tight timetable for the group’s ambitious $4.5 billion fundraising efforts.
Page 21: A former executive with Zara parent Inditex is among three senior executives appointed by department store group Myer, as the company begins planning for the eventual departure of chief executive Bernie Brookes.
Page 27: The plan to split Westfield’s global property empire has prompted calls from international investors for the proposed $US17.6 billion ($18.83bn) Westfield Corporation to be listed in the US.
The West Australian
Page 3: Concerts, plays, dance shows and other productions generate $2.55 billion a year in Australia, making live entertainment a bigger money-spinner than film, television and digital games combined.
Page 19: ANZ Bank chairman David Gonski has called for changes to dividend imputation, saying the system discourages offshore investment by large corporates that provide “enormous benefits” to the nation.
Chinese steel giant Baosteel is on the verge of taking control of a significant Australian iron ore project after winning its $1.4 billion battle for Aquila Resources.
Page 6: Federal Treasury figures have revealed a fall in cigarette sales since the introduction of the Gillard government’s plain packaging laws.
Page 7: The State Government has launched a public information and advertising campaign ahead of the launch of two trial sites for the National Disability Insurance Scheme.
Page 9: Labor’s shadow minister for multicultural interests Margaret Quirk has been forced into an embarrassing apology in State Parliament after she wrongly linked two Liberal MPs to the alleged crime family at the centre of raids at a Carabooda market gardening business.
Page 10: Former treasurer and transport minister Troy Buswell may yet pay for car damage resulting from his string of crashes in February — but not because Colin Barnett tells him to.
Page 14: Whistle blower Kathy Jackson has denied corruption allegations against her and described how taking on crooked union officials forced her into a mental hospital.
Business: Citic Resources Holdings, the commodities trader controlled by China’s biggest state-owned investment company, said it was missing more than half its alumina stored at Qingdao Port amid a probe into lending.
A landmark legal battle between Kojonup neighbours over genetically modified crops which could shape the future of farming in Australia is back on.
State Government plans to amalgamate the management of ports have hit a snag in the south of the State.
BP has signed a $US20 billion ($21.4 billion) deal to supply liquefied natural gas to China National Offshore Oil, one of several contracts announced by Chinese Premier Li Keqiang on his visit to Britain.
Business support for abandoning a price on greenhouse gases was out of step with global developments and put them at financial risk, the Committee for the Economic Development of Australia has warned.
