Lew’s big win: DJs deal to go ahead
Solomon Lew can finally declare victory in his $400 million gamble on David Jones and Country Road after the Federal Court approved South African retailer Woolworths’ $2.2 billion takeover of Australia’s oldest department store, dismissing the corporate regulator’s concerns. The Fin
Melbourne Hotel to get $40m facelift
Perth’s heritage-listed Melbourne Hotel is set for a $40 million facelift to transform the site on the corner of Milligan and Hay streets into a 67-room hotel and 20-storey office tower. The West
GE looks to offer power plant IPO
A $1.2 billion power plant in Western Australia linked to one of the world’s largest alumina refineries owned by BHP Billiton is being positioned for an initial public offering. The Aus
Business supports direct action as carbon tax axed
Business has demanded the Senate pass Tony Abbott’s “direct action” climate plan as Bill Shorten defied the long-awaited repeal of the carbon tax with a vow to fight for carbon pricing through to the next election. The Aus
Budget is dead, says Palmer
Clive Palmer said the federal government has little choice but to have a mini-budget or go back to the polls because the bulk of its budget measures will never pass the Senate. The Fin
NBN hit by $200m bill
NBN Co has lost a $200 million case against Telstra in the NSW Supreme Court in a decision that will hit taxpayers. The Fin
Writ rocks Gutnick’s return
Joe Gutnick’s return to the WA mining industry has been thrown into disarray after Blackham Resources — his chosen vehicle to re-enter the Wiluna gold belt — yesterday launched legal action against him in the Supreme Court. The West
The Australian Financial Review
Page 1: Clive Palmer said the federal government has little choice but to have a mini-budget or go back to the polls because the bulk of its budget measures will never pass the Senate.
Page 5: The climate change policy dispute is set to rage for years after Thursday’s abolition of the carbon tax redrew the battle lines between the major parties.
Page 7: The offshore oil and gas industry will continue to be able to employ some foreign workers without visas, after the federal government intervened to undo changes introduced by the Greens.
Page 9: Australia’s push to shift the Group of 20 trade agenda beyond tariff reductions and bilateral deals has been backed by two leading global institutions, ahead of a trade ministers meeting in Sydney on Saturday.
Page 13: Solomon Lew can finally declare victory in his $400 million gamble on David Jones and Country Road after the Federal Court approved South African retailer Woolworths’ $2.2 billion takeover of Australia’s oldest department store, dismissing the corporate regulator’s concerns.
Energy utility AGL has warned the removal of the carbon tax will cut heavily into its profit for fiscal 2015, although ongoing operational gains from other parts of the group are expected to offset the impact.
Page 15: Woodside Petroleum has raised its forecast for 2014 production, as it benefits from ongoing gains in output from its Pluto development
Southern Cross Media Group chief executive Rhys Holleran says chief financial officer Peter Lewis wasn’t the right fit for the company following his shock resignation.
Page 17: A senior regulator has floated changes to narrow the gap between how much capital major banks and the rest must set aside against home loans, a key complaint of smaller banks.
In more bad news for the major banks, UBS says David Murray’s financial system inquiry will likely force them to raise a substantial $23 billion of new common equity tier-one capital, which will directly lower returns on equity by, on average, 7 per cent (or 116 basis points).
Page 20: NBN Co has lost a $200 million case against Telstra in the NSW Supreme Court in a decision that will hit taxpayers.
Page 34: Premier Colin Barnett unveiled the design for Perth’s new 60,000-seat stadium on Thursday, raising the question of what commercial model will be used to run the $900 million facility.
The Australian
Page 1: Business has demanded the Senate pass Tony Abbott’s “direct action” climate plan as Bill Shorten defied the long-awaited repeal of the carbon tax with a vow to fight for carbon pricing through to the next election.
Page 6: Australians are increasingly concerned they will not be able to afford the healthcare they need, according to an exclusive Newspoll.
Page 17: Rupert Murdoch’s 21st Century Fox will remain undeterred in its pursuit of US media conglomerate Time Warner after its mammoth $US80 billion ($85bn) unsolicited bid for the company was rejected.
A $1.2 billion power plant in Western Australia linked to one of the world’s largest alumina refineries owned by BHP Billiton is being positioned for an initial public offering.
Page 25: A Shortage of Civil Aviation Safety Authority aerodrome staff meant at least one regional airport did not receive an in-person inspection for eight years, according to a new submission to the federal government’s safety review.
Certified unmanned aerial vehicle operators have provisionally backed a call for national laws to deal with the threat to privacy from drones.
Etihad started non-stop services to Perth this week to establish its fourth Australian gateway and will be trying to convince West Australians that Abu Dhabi is not just a good gateway to Europe but also to the US.
Page 27: The president of the Law Society of Western Australia has unveiled a plan to make his state the third jurisdiction to join the uniform regulatory scheme for lawyers.
The West Australian
Page 3: The Federal Government has been forced to implement a new visa regime for offshore oil workers after it suffered an embarrassing loss in the Senate that left foreigners legally unable to work on rigs and ships.
Page 6: The stage has been set for another election to be fought around climate change policy after Opposition Leader Bill Shorten promised Labor would take the fight for an emissions trading scheme to the next poll.
Page 7: The State Government has no immediate plans to reduce water charges and public transport fares after the repeal of the carbon tax.
Page 10: Australia had shown a calm in response to the global financial crisis that stood it in good stead for the future, one of the world’s most senior economists believes.
Page 11: Tony Abbott has urged some of the world’s biggest businesses to argue their case for reform in the court of public opinion as signs grow that his hopes for a surge in the global economy will fall short.
Page 13: Perth’s heritage-listed Melbourne Hotel is set for a $40 million facelift to transform the site on the corner of Milligan and Hay streets into a 67-room hotel and 20-storey office tower.
Page 20: Vacant land in Perth remains the most expensive in the country, with prices rising more than 11 per cent over the past year.
Business: Joe Gutnick’s return to the WA mining industry has been thrown into disarray after Blackham Resources — his chosen vehicle to re-enter the Wiluna gold belt — yesterday launched legal action against him in the Supreme Court.
Just days out from a showdown with an angry investor who wants to roll Antares Energy’s board citing under performance, the target company yesterday placed its shares in a trading halt to deal with a takeover bid.
Brierty’s share price has hit a six-year high after shrugging off the gloom surrounding the contracting industry by upgrading its profit forecast.
WA’s multi-user rail freight network is in the best shape of its life, according to the company which has an exclusive long-term lease over the State-owned asset.
A former lieutenant of billionaire Kerry Stokes has taken the helm of struggling mining services company Resource Equipment Limited.
Mount Gibson Iron’s cash pile has continued to mount despite flagging iron ore prices in the June quarter, with the company now sitting on a cash balance of more than $520 million.
