05/08/2014 - 05:50

Morning Headlines

05/08/2014 - 05:50

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Morning Headlines

Atlas boss bullish on Pilbara holdings

Atlas Iron chief Ken Brinsden says the junior’s undeveloped iron ore holdings in the Pilbara are undervalued by the market as the miner chases a minority investor and off-take partner to bring its untapped product to market. The Fin

Labor’s NBN ‘rushed, chaotic’

Big taxpayer-funded infrastructure projects worth more than $1 billion could face stringent new hurdles after a landmark audit has found the policy process for developing Labor’s National Broadband Network was “rushed, chaotic and inadequate”. The Aus

CFMEU in ‘extortion campaign’

The Construction, Forestry, Mining and Energy Union engaged in a deliberate and protracted criminal campaign of extortion against a Brisbane crane company whose workers signed up to a non-union enterprise agreement, the union royal commission was told. The Fin

Northern Star aims to extend lives of five mines

Northern Star Resources’ $50 million exploration campaign aimed at increasing the mine life of its operations is off to a good start after the goldminer reported strong drilling results from its Pegasus deposit and Paulsens mine. The Fin

Firms jostle for stadium naming

Two of the world’s biggest resources companies are lining up to sign multimillion-dollar deals to have their names attached to the new Perth stadium project at Burswood. The West

Treasury sets the pace for $3.4b offer

The board of Treasury Wine Estates is demanding private equity suitors Kohlberg Kravis Roberts and its junior partner Rhone Capital accelerate their due diligence process to minimise disruption as the maker of Penfolds weighs an increased $3.4 billion takeover offer. The Fin

Pilbara reservoir hope for new city

The dream of growing cities in the Pilbara is a step closer to reality after investigations revealed massive underground reservoirs able to support rapid growth in industry and agriculture. The West

Ausdrill shrugs off Sayers’ court case

Mining contractor Ausdrill has taken presumption of innocence to its highest level, unveiling the extension of managing director Ron Sayers’s contract just an hour before the start of his retrial on tax fraud charges. The West

 

 

The Australian Financial Review

Page 1: The Construction, Forestry, Mining and Energy Union engaged in a deliberate and protracted criminal campaign of extortion against a Brisbane crane company whose workers signed up to a non-union enterprise agreement, the union royal commission was told.

Page 4: Joe Hockey’s mission to lobby the Senate crossbenchers is backfiring with the Treasurer being inundated with new spending demands while making next to no progress in securing support for stalled budget measures.

Page 7: Chances the Reserve Bank of Australia will begin softening up financial markets for interest rate increases are rising after improving retail conditions added to signs consumers are shaking off a post-budget funk.

Page 8: The $101 billion Future Fund is shifting its focus from shares to private equity, infrastructure and alternative assets, chairman Peter Costello said.

Page 15: The board of Treasury Wine Estates is demanding private equity suitors Kohlberg Kravis Roberts and its junior partner Rhone Capital accelerate their due diligence process to minimise disruption as the maker of Penfolds weighs an increased $3.4 billion takeover offer.

Page 17: Alinta Energy chief executive Jeff Dimery has revealed he is interested in bidding for power and gas retailer Lumo Energy and power plants set for privatisation in Queensland and NSW despite the policy failings currently troubling the sector.

Roc Oil’s controversial plans for a $800 million zero-premium merger with Horizon Oil have been dealt a fatal blow by a $474 million cash takeover offer for Roc from private Chinese conglomerate Fosun Group, which has been welcomed by Roc’s largest shareholder Allan Gray.

Page 21: Atlas Iron chief Ken Brinsden says the junior’s undeveloped iron ore holdings in the Pilbara are undervalued by the market as the miner chases a minority investor and off-take partner to bring its untapped product to market.

Northern Star Resources’ $50 million exploration campaign aimed at increasing the mine life of its operations is off to a good start after the goldminer reported strong drilling results from its Pegasus deposit and Paulsens mine.

 

 

The Australian

Page 1: Big taxpayer-funded infrastructure projects worth more than $1 billion could face stringent new hurdles after a landmark audit has found the policy process for developing Labor’s National Broadband Network was “rushed, chaotic and inadequate”.

Page 3: Labor’s election advertising strategist, Dee Madigan, says the party cannot blame the media for its defeat last year given its own communication failures and reveals she opposed a push from Kevin Rudd’s inner circle to target News Corp Australia over allegations of media bias.

Page 4: Joe Hockey will face new calls to scale back unpopular budget savings when he holds his next talks with crossbench senators amid a widening fight over the fairness of the spending cuts.

Page 5: Inner-city families spending more than $100 a day on childcare fees are likely to be worse off under the Productivity Commission’s preferred new model.

Page 6: Frisky newborn lambs are leaping in the winter sun across the green pastures of southern Australia, with record numbers of twins being born despite the recent cold snap.

Page 17: A run of budget deficits has left the Future Fund facing a likely shortfall in meeting commonwealth public service superannuation liabilities, despite the fund posting its second-best year of returns.

Page 18: The successful $1.4 billion takeover of Aquila Resources by China’s Baosteel and Australia’s Aurizon should serve as a reminder of the upside in Atlas Iron’s Pilbara asset base, Atlas managing director Ken Brinsden says.

Looming strike action at Gladstone’s Curtis Island — the site of $70 billion of under-construction liquefied natural gas plants — should not directly add to construction costs but could cause delays for locally listed proponents Santos and Origin Energy.

Page 25: Argo Investments boss Jason Beddow hopes the positive Australian sharemarket conditions will fuel a continuation of higher dividend payments in the year ahead, as the country’s second largest listed investment company yesterday posted an 11.9 per cent lift in its annual net profit to $195.9 million.

Page 27: An online private health insurance start-up is poised to crack the $100 million revenue mark this financial year after a little more than two years in business in a multi-billion-dollar industry.

 

 

The West Australian

Page 1: The dream of growing cities in the Pilbara is a step closer to reality after investigations revealed massive underground reservoirs able to support rapid growth in industry and agriculture.

Page 3: The State Government will tell WA councils to scrap hundreds of inconsistent bylaws governing everything from alfresco dining and pet ownership to planning.

Page 4: The State Government says it is unclear whether the circumstances of baby Gammy’s surrogacy fall foul of WA laws.

Page 9: Perth’s road network is the ideal environment for innovative driverless cars, which could cut road fatalities by up to 90 per cent, according to the international automotive expert who is developing the technology.

Page 13: Two of the world’s biggest resources companies are lining up to sign multimillion-dollar deals to have their names attached to the new Perth stadium project at Burswood.

Business: The drilling industry has added its weight to miners’ warning against an increase in the State’s gold royalty rate, saying any hike in the tax would have a “massive” impact.

Mining contractor Ausdrill has taken presumption of innocence to its highest level, unveiling the extension of managing director Ron Sayers’s contract just an hour before the start of his retrial on tax fraud charges.

James Packer is going back to the scene of one of his major business flops and will take another gamble on Las Vegas.

Fresh from endorsing a $113 million foreign takeover bid, Nido Petroleum has lamented the lack of local appetite for small-to-midsize energy companies.

WA’s nickel industry has given the annual Diggers & Dealers conference a flying start, with nickel and gold explorer Duketon Mining enjoying a sterling first day’s trading and a newly released Western Areas off-take tender likely to kick off manoeuvring by potential bidders for BHP Billiton’s Nickel West assets.

Bar owners have lifted their game as they cater to the demands of discerning, well-travelled patrons who have helped change the face of Perth’s bar scene.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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