06/08/2014 - 05:39

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06/08/2014 - 05:39

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East coast too hot to handle for CBH board

East coast too hot to handle for CBH board

CBH has dumped controversial plans to set up a grain grower cooperative on the east coast and invest tens of millions of dollars in storage and rail assets. The West

Palmer claims port lockout

Billionaire MP Clive Palmer claims the Federal Government wants to lock him out of his WA leases by favouring the security plan of Chinese company CITIC to protect the Cape Preston port over that of his firm Mineralogy. The West

Gas fires hopes for export boom

Natural gas has surpassed education as Australia’s third biggest export, before even the biggest gas projects to come have been built, raising hopes the commodity will bolster the country’s trade balance as the Reserve Bank charts a lower growth future. The Aus

Goldminers unite against WA royalty rise

Western Australia’s struggling gold producers are to adopt the advertising campaign tactics used nationally in the attack on the mining tax in their battle to stop the state government increasing royalties in its review of mineral royalty rates. The Aus

Perth Racing eyes Ascot sale

Perth Racing appears willing to sell its traditional headquarters at Ascot Racecourse, the home of the Perth Cup, and move all thoroughbred racing to Belmont Park. The West

Call to kill off minerals tax

The mining industry’s tax and royalties bill is expected to come in at $22.7 billion for financial 2014, the second-highest level on record, with the sector seizing on the fresh data to pressure the Senate to repeal the Minerals Resource Rent Tax. The Fin

Interest rates in state of suspension

The Reserve Bank of Australia’s record low interest rate settings have entered a second year – extending the most sustained period of monetary policy stimulus since the early 1990s recession. The Fin

Stokes after gold on all mediums

Seven West Media chairman Kerry Stokes says it is possible the free-to-air television, digital, newspaper and magazine company could own a radio network before the end of its newly-signed deal to broadcast the next three Olympic Games. The Fin

 

 

The Australian Financial Review

Page 1: Australia will sully its economic reform push as host of the Group of 20 leaders summit if it adopts domestic recommendations designed to curb the market share of supermarket giants, says Wesfarmers boss and chairman of the G20 business advisory group, Richard Goyder.

Page 3: Cash will fall to just over 40 per cent of all payments by 2018, and cheques will disappear, a new study has found.

Page 4: The Reserve Bank of Australia’s record low interest rate settings have entered a second year – extending the most sustained period of monetary policy stimulus since the early 1990s recession.

Page 11: Downer EDI plans to diversify away from construction into project design and management to counter sliding earnings from mining-related businesses, chief executive Grant Fenn said as the contractor signalled lower group profits in 2015.

Seven West Media chairman Kerry Stokes says it is possible the free-to-air television, digital, newspaper and magazine company could own a radio network before the end of its newly-signed deal to broadcast the next three Olympic Games.

Page 13: Cochlear chief executive Chris Roberts says a rebound in sales at the bionic ear maker will continue as doctors and patients turn to new products that have only recently been released to market.

Page 17: The mining industry’s tax and royalties bill is expected to come in at $22.7 billion for financial 2014, the second-highest level on record, with the sector seizing on the fresh data to pressure the Senate to repeal the Minerals Resource Rent Tax.

It was the winter of 2012 when the tiny band of geologists behind nickel hopeful Sirius Resources headed down a flooded track in remote eastern WA to a patch of hostile, dense bushland for one last roll of the dice.

Page 18: SunRice, Australia’s last remaining agriculture monopoly, is taking on global snack-food giant Frito-Lay in the $3 billion salty snacks market, launching a range of rice chips in a renewed product innovation push aimed at accelerating sales and earnings growth.

 

 

The Australian

Page 2: Natural gas has surpassed education as Australia’s third biggest export, before even the biggest gas projects to come have been built, raising hopes the commodity will bolster the country’s trade balance as the Reserve Bank charts a lower growth future.

Page 5: Labor has pilloried Attorney-General George Brandis over the government’s decision to jettison his proposed changes to racial discrimination laws, saying he has been humiliated and rolled by his colleagues.

Page 7: All sides of politics need to come together and create a “meaningful, decade-long compact” on indigenous affairs based on Andrew Forrest’s radical report, according to the Coalition’s first lower house indigenous MP Ken Wyatt.

Page 19: The feared end of the resources boom does have at least one silver lining: the business front pages of Australia’s newspapers will no longer hinge on the sometimes monotonous gyrations of the price of iron ore and coal.

Page 21: The Kerry Stokes-controlled Seven Group Holdings is set to buy Nexus Energy for less than the cost of its liabilities in a $180 million deal that will leave Nexus shareholders empty-handed.

Page 22: Western Australia’s struggling gold producers are to adopt the advertising campaign tactics used nationally in the attack on the mining tax in their battle to stop the state government increasing royalties in its review of mineral royalty rates.

Page 23: Transurban chief executive Scott Charlton has called on the federal and state governments to take a co-ordinated approach to the rollout of new infrastructure projects as the company yesterday confirmed it would lift its distribution in the year ahead after another strong profit.

Airbus appears to have gained a boost in its competition to win an order with Virgin Australia, the airline indicating the new A350 is a contender for its next generation of planes, along with Boeing’s 787.

Page 28: Labor and the Greens have been called to task over their united stance to block the government’s higher education reforms in the Senate, with peak group Universities Australia saying their position is “invidious” and will undermine the very students they are purporting to protect.

 

 

The West Australian

Page 3: Perth Racing appears willing to sell its traditional headquarters at Ascot Racecourse, the home of the Perth Cup, and move all thoroughbred racing to Belmont Park.

The WA racing industry has headhunted the man who was enlisted to guide Essendon through its AFL supplements scandal to provide an analysis of the potential effect of privatising the TAB.

Tasmanians live where there are no jobs and no prospects because of the way the GST is carved up, WA Treasurer Mike Nahan says.

Page 9: Tasmanians live where there are no jobs and no prospects because of the way the GST is carved up, WA Treasurer Mike Nahan says.

Page 14: Billionaire MP Clive Palmer claims the Federal Government wants to lock him out of his WA leases by favouring the security plan of Chinese company CITIC to protect the Cape Preston port over that of his firm Mineralogy.

Business: CBH has dumped controversial plans to set up a grain grower cooperative on the east coast and invest tens of millions of dollars in storage and rail assets.

Low iron ore prices have pushed back Fortescue Metals Group’s aggressive plan to pay its debt down early, a move that may also threaten a promised dividend bonanza from the miner.

Metals X has flagged the closure of its Chalice underground mine near Norseman before the end of the year.

Property: The Property Council of Australia is tomorrow expected to release official figures showing the CBD vacancy rate has climbed close to 13 per cent.

A Chinese group with mining interests in WA has paid $36 million for the former Matilda Bay Brewing site in North Fremantle.

Thousands of contract workers — from miners to Santa Clauses — are being transferred to new employers following the collapse of a national labour hire company.

The major telecommunications companies have taken a wait-and-see approach over the Federal Government’s data retention laws, which would see them forced to hold customer data for at least two years.

 

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