Morning Headlines

ACCC voices concern over Coles’ IGA plans

The Australian Competition and Consumer Commission’s crackdown on creeping acquisitions in the $85 billion grocery trade threatens to stymie Coles’s plans to grow its food and liquor network and increase its market share in Western Australia. The Fin

New Palmer carbon tax demands

The federal government faces fresh demands from Clive Palmer that all businesses – not just energy suppliers – justify prices to consumers or face stiff penalties, putting it in a race against time to repeal the carbon tax. The Fin

NBN rejigs contracts to fix roll-out

The NBN Co is radically revamping the billion-dollar construction contracts it awards to companies to build the National Broadband Network and will soon introduce a new range of incentives and penalties in a bid to slash delays in connecting consumers to the mammoth infrastructure project. The Aus

Navitas to survive Macquarie loss

Analysts are playing down fears education group Navitas could lose more contracts with universities after the end of the private course provider’s biggest deal, with Macquarie University, was announced. The Fin

Hard-hit Pluton on edge without a $48m lifeline

Kimberley iron ore miner Pluton Resources is teetering on the brink of disaster, warning shareholders yesterday it faces a struggle to remain viable if it cannot raise at least $47.5 million through a rights issue. The West

Austal in the crossfire as big guns battle

The industrial enclave of Henderson on Perth’s southern fringe is about as far from Washington, DC, as you can get. But Henderson-headquartered shipbuilder Austal finds itself in the middle of a tense, House of Cards- style game of Washington politics. The Aus

Hames hints at staying if Barnett goes

Deputy Premier Kim Hames is at odds with Colin Barnett over the timing of his departure from the ministry, saying he would like to continue serving in the Cabinet right through to the next election in March 2017 if the Premier stands down a year out. The West

The Australian Financial Review

Page 1: The federal government faces fresh demands from Clive Palmer that all businesses – not just energy suppliers – justify prices to consumers or face stiff penalties, putting it in a race against time to repeal the carbon tax.

Page 5: Labor will move on Monday to overturn the Abbott government’s changes to the Future of Financial Advice (FoFA) laws, after forcing the government to introduce them into Parliament on Thursday.

Business has slammed the delayed repeal of the carbon tax, saying the extra amendments forced by Clive Palmer will add red tape and create further uncertainty for companies.

Page 9: Chinese President Xi Jinping has called on Beijing and Canberra to accelerate free-trade negotiations after a meeting with former prime minister John Howard.

Page 13: Swiss commodities giant Glencore is understood to have made an informal approach to Syrah Resources that could value the graphite and vanadium junior at as much as $2 billion.

Page 15: Analysts are playing down fears education group Navitas could lose more contracts with universities after the end of the private course provider’s biggest deal, with Macquarie University, was announced.

CSR managing director Rob Sindel is confident the surging house construction recovery will keep its momentum as new residential building approaches record levels.

Page 16: The Australian Competition and Consumer Commission’s crackdown on creeping acquisitions in the $85 billion grocery trade threatens to stymie Coles’s plans to grow its food and liquor network and increase its market share in Western Australia.

Page 17: Westpac’s “multi-brand” strategy is facing a fresh round of market criticism, with JPMorgan analysts saying the bank should consider closing up to 200 branches in a bid to cut costs.

Page 19: Qantas Airways is losing domestic and international flyers to Virgin Australia as companies are fixated increasingly on paying the lowest possible price for airline tickets, says a new survey of corporate travel managers.

The new chief executive of Newcrest Mining, Sandeep Biswas, has wasted no time in putting his stamp on the goldminer’s executive ranks, with a slimmer structure revealed on Thursday.

The Australian

Page 1: The NBN Co is radically revamping the billion-dollar construction contracts it awards to companies to build the National Broadband Network and will soon introduce a new range of incentives and penalties in a bid to slash delays in connecting consumers to the mammoth infrastructure project.

Page 4: Global credit ratings agencies have endorsed the government’s budget strategy and expressed confidence most of its savings measures will eventually get through the Senate.

The pressure on Clive Palmer to explain properly if he legitimately took more than $12 million of China’s money — and used it to bankroll his political party — is taking a toll.

Page 19: The promise of mass production from new battery plants is prompting an unprecedented rush for stocks linked to mining of graphite — a key component in small, dense batteries able to store more power for electric cars and houses.

The industrial enclave of Henderson on Perth’s southern fringe is about as far from Washington, DC, as you can get. But Henderson-headquartered shipbuilder Austal finds itself in the middle of a tense, House of Cards- style game of Washington politics.

Page 20: Proxy adviser ISS has backed US activist fund Lone Star in its push to overhaul the board of oil and gas play Antares Energy, setting the scene for a tight shareholder vote later this month.

Shares in Atlas Iron have fallen sharply after the miner revealed that worsening market conditions had forced it to accept increased discounts on its iron ore.

Page 21: Leighton Holdings has appointed Kirstin Ferguson as an independent director and announced changes to its advisory boards, in the latest development surrounding a major overhaul of the Spanish-controlled construction giant.

Page 27: Air New Zealand is spearheading an invasion of bigger, longer-range Boeing 787-9s that could see Qantas International further disadvantaged for putting off buying new aircraft.

The West Australian

Page 4: The Reserve Bank faces fresh questions over interest rate settings after new figures show unemployment climbing to its highest level in four months.

Page 6: Business groups are warning the Abbott Government against any broadening of the carbon tax repeal Bills, fearing big and small companies could find themselves under investigation if they fail to pass on savings from axing the levy.

Page 12: Deputy Premier Kim Hames is at odds with Colin Barnett over the timing of his departure from the ministry, saying he would like to continue serving in the Cabinet right through to the next election in March 2017 if the Premier stands down a year out.

Page 13: Parents of children starting Year 7 at a public high school next year will be asked to pay almost four times as much in fees as they were this year.

Business: Elders has poured cold water on suggestions it and fellow agribusiness Wellard are involved in talks about a joint future.

Kimberley iron ore miner Pluton Resources is teetering on the brink of disaster, warning shareholders yesterday it faces a struggle to remain viable if it cannot raise at least $47.5 million through a rights issue.

Telstra will become a global company with a distinct Asian focus, its chief executive David Thodey says, as the telco moves slowly from its core businesses to embrace the fast-moving world of start-ups and innovation.

Late settlements at Finbar Group’s sold-out Au apartment project boosted the company’s 2014 net profit, which was yesterday forecast to rise 15 per cent to $36 million.