CMG’s abalone buy for Asia
Leading WA agribusiness Craig Moysten Group has purchased Australia’s biggest abalone farm and plans to double production as part of a $20 million investment aimed at premium seafood markets in Asia. The West
‘Sweet’ year for stocks delivers 12pc
Investors have welcomed the new financial year with a smile, pocketing a gain of more than 12 per cent from the stock market in the past year as high-yielding banks and industrials mopped up excess liquidity sloshing around the system. The Aus
Belt-tightening BHP silent on more job cuts
BHP Billiton is thought to have made another 60 positions across its WA iron ore division redundant as part of Jimmy Wilson’s relentless drive to squeeze costs out of a business that is coming to the end of a defining period of production volume growth. The West
Cash trail leads to Palmer ads
A Brisbane media agency involved in Clive Palmer’s federal election campaign received $2.167 million in Chinese government cash allegedly siphoned from an account controlled by the businessman at the time of his records pending bid to enter parliament. The Aus
Markets warm to junior potential
Perennial optimists they may be but the State’s exploration companies are again daring to hope they may have seen the worst of the sector’s elongated market downturn. The West
Punters dump Qantas shares
Continued weak passenger numbers resulted in Qantas shares coming under heavy selling pressure in sharemarket trading on Monday, with little respite expected for its operations for some months yet. The Fin
Japan PM to visit Pilbara
Tony Abbott will introduce Japanese Prime Minister Shinzo Abe to the Pilbara during his four-day visit to Australia next week. The Aus
Budget sales job failing
Malcolm Turnbull has suggested the government is struggling with its budget because it failed to adequately make the case for change, including waiting too long to release the report by the Commission of Audit. The Fin
Healthscope chief tips growth on horizon
Healthscope chief executive Robert Cooke says investors who buy into the $3.8 billion float of the healthcare business can expect it to be transformed into an Australian and Asian private hospital operator within five years. The Fin
The Australian Financial Review
Page 1: Malcolm Turnbull has suggested the government is struggling with its budget because it failed to adequately make the case for change, including waiting too long to release the report by the Commission of Audit.
Page 4: Environment Minister Greg Hunt all but confirmed the federal government would heed the call of almost one-quarter of its backbench and exempt the aluminium industry from any power price rises caused by the renewable energy target (RET).
Page 5: Prime Minister Tony Abbott has been warned he will have to rely on engineers from China and India to fulfil his promise to be the “infrastructure prime minister”.
The sale of state-owned ports has led to big price hikes in shipping costs, according to comments by coal mining group Glencore Xstrata that will add to emerging concerns about the consequences of privatisation
Page 11: Supermarket chain Coles has categorically rejected Australian Competition and Consumer Commission allegations that it engaged in unconscionable conduct to force smaller grocery suppliers to pay additional rebates to fund a new supply chain program.
Page 15: Goodman Fielder will seek feedback from key shareholders before deciding whether to agree to a watered-down takeover offer from Singapore agribusiness group Wilmar International and Hong Kong investment management company First Pacific.
Healthscope chief executive Robert Cooke says investors who buy into the $3.8 billion float of the healthcare business can expect it to be transformed into an Australian and Asian private hospital operator within five years.
South Africa’s Woolworths is attempting to regain the upper hand in the battle for two of Australia’s largest retailers, laying down the gauntlet to rag trader Solomon Lew by ruling out increasing its $2.2 billion bid for David Jones or its $213 million mop-up offer for Country Road.
Page 17: Continued weak passenger numbers resulted in Qantas shares coming under heavy selling pressure in sharemarket trading on Monday, with little respite expected for its operations for some months yet.
Page 21: Rio Tinto expects its South of Embley bauxite project near Weipa in Queensland to deliver returns comparable to its lucrative Pilbara iron ore operations, and is likely to approve its development this year, UBS analyst Glyn Lawcock said.
Civil liberties groups have criticised proposed laws allowing spy agencies to access the computers of a suspect’s associates as part of investigations.
The Australian
Page 1: A Brisbane media agency involved in Clive Palmer’s federal election campaign received $2.167 million in Chinese government cash allegedly siphoned from an account controlled by the businessman at the time of his records pending bid to enter parliament.
Support for the Abbott government is now 10 points below its election-winning vote nearly 300 days ago, with the Coalition not making any headway since the budget in selling its tough fiscal message.
Page 2: The author of the McClure welfare reform report says not all those currently on the disability support pension should be “grandfathered” so they can retain their benefits under his proposed new system.
Page 4: A “true’’ 20 per cent benchmark for the Renewable Energy Target is firming as the government’s preferred position ahead of a cabinet debate on the policy within two months.
The controversial carbon tax goes up today, higher-income earners will pay more to repair the budget deficit and some aged-care fees will become means-tested under new financial year changes to hit Australians.
Page 5: Tony Abbott will introduce Japanese Prime Minister Shinzo Abe to the Pilbara during his four-day visit to Australia next week.
Page 6: A huge surge in foreign buying of Australian real estate — including $5.5 billion ploughed into established homes in the past nine months — is likely to strengthen a growing push to regulate offshore purchases.
Page 19: Investors have welcomed the new financial year with a smile, pocketing a gain of more than 12 per cent from the stock market in the past year as high-yielding banks and industrials mopped up excess liquidity sloshing around the system.
Page 20: Australian superannuation savers look likely to have enjoyed a 13 per cent lift in the value of their average account for the 2013-14 financial year, which makes it the fifth successive positive year — with a total five-year return of 58 per cent, or 9.6 per cent a year.
Page 29: Android has gained slightly on Apple’s mobile market share in Australia as Apple faces a substantial decline unless it releases a smartphone with a larger screen, research shows.
Page 31: Tim Ebbeck has issued a clarion call for his staff to do more to transform Oracle Australia into “the best performing division globally” after restructuring the software giant’s local hub.
The West Australian
Page 7: A popular Sculpture by the Seas work of art has been given a permanent home overlooking the Indian Ocean thanks to one of the State’s most philanthropic families.
Business: Perennial optimists they may be but the State’s exploration companies are again daring to hope they may have seen the worst of the sector’s elongated market downturn.
Internet provider iiNet is remaining tight-lipped over the search for its new chief executive after the indicative deadline for an end to its global search passed yesterday with no result.
BHP Billiton is thought to have made another 60 positions across its WA iron ore division redundant as part of Jimmy Wilson’s relentless drive to squeeze costs out of a business that is coming to the end of a defining period of production volume growth.
Uranium explorer Prime Minerals has joined the chorus of resource plays jumping in the tech space, yesterday confirming a deal to backdoor list Sydney-based data security company Cocoon Data.
Indian-controlled Aditya Birla Minerals has made some encouraging remarks about the future of its Nifty underground copper mine, at the same time as announcing that 26 per cent of the Pilbara operation’s workforce has been made redundant.
Leading WA agribusiness Craig Moysten Group has purchased Australia’s biggest abalone farm and plans to double production as part of a $20 million investment aimed at premium seafood markets in Asia.
A year out from the proposed start-up of its $US54 billion ($57.2 billion) Gorgon LNG development, Chevron has welcomed the final module for the first of three processing trains to Barrow Island.
Agriculture Minister Ken Baston has backed a 10-year plan to lift the WA wine industry out of the doldrums.
