$390k tugboat workers to strike for 40pc rise
Fifty-two tugboat mechanics who can earn up to $390,000 a year plan to shut down Australia’s main iron ore port this weekend in a fight for better wages. The Fin
Kalgoorlie needs money to explore or will run out of mines
Industry experts at this week’s Diggers & Dealers conference in Kalgoorlie are now warning that if more money isn’t poured into the region, the town will struggle to survive on gold alone. The Fin
Rio keeps its tech options wide open
Rio Tinto iron ore boss Andrew Harding has left the door ajar for the global miner to pivot from mining and into the technology sphere, saying the company is now more like Google than a traditional mining company. The West
Ausdrill dragged into red
Ausdrill is playing down the impact of a massive impairment linked to the mining downturn which could see the contractor post an annual loss of up to $65 million. The West
Hockey hits business for ‘weak’ help
Treasurer Joe Hockey has hit out at a lack of bipartisan support for tough economic reform, weak business advocacy for change, and the media for attacks against him personally. The Fin
Tech giants settle after $16m
Apple and Samsung have called off all of their long-running Australian court disputes, having spent an estimated $16 million over three years, after a global deal was struck between the pair. The Fin
$1bn tick for Orica spin-off
Orica’s biggest local shareholder has backed a flagged $1 billion spin-off of the company’s chemicals unit, which is being positioned for growth if it emerges from the shadow of its bigger, mining-focused stable mates. The Aus
The Australian Financial Review
Page 1: Treasurer Joe Hockey has hit out at a lack of bipartisan support for tough economic reform, weak business advocacy for change, and the media for attacks against him personally.
Fifty-two tugboat mechanics who can earn up to $390,000 a year plan to shut down Australia’s main iron ore port this weekend in a fight for better wages.
Page 3: Competition watchdog chairman Rod Sims has accused Wesfarmers boss Richard Goyder of completely misunderstanding the role of competition policy, likening his views to those who believe the Earth is flat.
Page 4: Education Minister Christopher Pyne conceded he will have to make changes to the Coalition’s higher education package – probably to his plan to charge a real interest rate on student debt – which has sparked violent student protests.
Page 6: Michael Ravbar, the Queensland state secretary of the construction union, has rejected claims a redundancy fund was misused to pay hardship payments to striking workers.
Page 7: The federal government is battling to ease privacy concerns about its proposed new anti-terrorism laws in a bid to secure their swift passage through Parliament at the end of this month.
Page 9: It might be 40 years since the feminist movement hit Australia’s streets, but sex still divides the workplace, with men twice as likely as women to think their gender is an advantage in the office and almost three-quarters of women believing there is a glass ceiling.
Page 10: Maintaining the renewable energy target will not lead to less reliable electricity supply, the Australian Energy Market Operator said.
Page 11: Apple and Samsung have called off all of their long-running Australian court disputes, having spent an estimated $16 million over three years, after a global deal was struck between the pair.
Page 21: Rupert Murdoch was prepared to pay $US95 a share for Time Warner to create the world’s biggest media company but walked away because his target would not engage and his shareholders were concerned he would over pay.
Orica will demerge or sell its chemicals business in a deal worth up to $1 billion, bringing to fruition a long-term transition away from chemicals to become a pure-play mining services company.
Industry experts at this week’s Diggers & Dealers conference in Kalgoorlie are now warning that if more money isn’t poured into the region, the town will struggle to survive on gold alone.
The Australian
Page 1: Page 1: George Brandis and Malcolm Turnbull will move today to put the government’s counter-terrorism plans for computer and phone records back on track after a blow-up in cabinet over a lack of consultation and responsibility for the sweeping changes.
Page 2: Increased co-operation on missile defence by Australia and the US will be discussed when senior ministers from both countries meet in Sydney on Monday.
Page 3: University researchers should be paid government grants based on the number of patents they register rather than the scientific papers they publish, Industry Minister Ian Macfarlane said yesterday.
Page 6: Employers will seek a Federal Court injunction to stop proposed rolling stoppages by tugboat engineers at Port Hedland that could disrupt iron ore deliveries.
Page 17: Orica’s biggest local shareholder has backed a flagged $1 billion spin-off of the company’s chemicals unit, which is being positioned for growth if it emerges from the shadow of its bigger, mining-focused stable mates.
A code of conduct designed to help correct the power imbalance between the major retailers and their suppliers moved a step closer yesterday, as Coles unveiled a new supplier charter featuring former Victorian premier Jeff Kennett as an independent arbiter.
Page 18: Seven Group’s reduced $180 million bid for Nexus Energy through administrator McGrath Nicol is unlikely to draw opposition from other creditors in a vote on Monday, meaning it should sail through unopposed despite threats of legal action from angry shareholders who will receive nothing.
Page 19: Australia has underperformed global financial rivals when it comes to attracting funds from across the world, according to the Financial Services Council.
Page 25: One of the biggest direct commercial property sales in Australia’s history is under way with GPT and its unlisted stable-mate GPT Wholesale Office Fund, and AMP Capital snaring preferred bidder status on $1 billion-plus Cbus Property tower offerings.
The West Australian
Page 3: Bill Beament likes to refer to the family culture he and his young management team are building at gold miner Northern Star Resources.
Page 4: A 250ha pocket of semirural and light industrial land in High Wycombe is set to leap in value when the Barnett Government announces the terminus station for its airport rail link.
Senior ministers have signalled they are willing to water down contentious higher education reforms and the $7 Medicare co-payment in a bid to salvage key Federal Budget measures.
Page 10: Once upon a time Tony Abbott defended his paid parental leave scheme as both productive and participation-enhancing.
Page 13: Teekay Shipping is seeking a court injunction to stop its engineers from striking at Port Hedland in a move that would hold up some of the $100 million in daily iron ore exports.
Business: Ausdrill is playing down the impact of a massive impairment linked to the mining downturn which could see the contractor post an annual loss of up to $65 million.
Rio Tinto iron ore boss Andrew Harding has left the door ajar for the global miner to pivot from mining and into the technology sphere, saying the company is now more like Google than a traditional mining company.
Goodlife Health has emerged as the latest gym giant in WA after buying all eight Fitness First clubs for $32.5 million.
Clive Palmer’s Mineralogy is facing a legal bill of more than $1 million after a judge ruled the company’s chopping and changing of a lawsuit had been unreasonable.
Despite falling metal prices and stalled iron ore prices BHP Billiton climbed 31¢ to $38.32 and Rio Tinto rose 49¢ to $65.82, both just short of the day’s highs.
