iiNet $68m profit tipped
Perth-based internet service provider iiNet will report its annual results on Thursday with most analysts expecting rising subscriber numbers thanks to the national broadband network. The Fin
Slashing RET ‘devastating’
Renewable energy companies, fossil fuel generators and investor groups have warned the federal government that abolishing the Renewable Energy Target will damage Australia’s reputation as an investment destination. The Fin
Berths ‘not ready’ until 2019
Hopes of a new export terminal for junior iron ore miners at Port Hedland are in danger of being overtaken by events elsewhere in the Pilbara, with the Supreme Court told Atlas Iron and Brockman Mining’s South West Creek berths were unlikely to be built before 2019. The West
Muslim lecture battle
The University of WA is under pressure to cancel a planned lecture by a controversial Muslim activist whose radical organisation promotes the overthrow of Western governments and supports young Australian Muslims fighting in Syria and Iraq. The West
Aldi fails to disclose tap and go charges
Retailers have been put on notice to disclose surcharges on tap and go cards after the corporate regulator found supermarket chain Aldi had not displayed notification of fees. The Fin
Fuel excise, co-payment top list for Senate debate
The Abbott government has put two of its most contentious savings at the top of next week’s Senate program despite arriving at an impasse with Clive Palmer on its budget agenda. The Aus
NAB adds $440m to UK scandal bill
New National Australia Bank chief Andrew Thorburn had admitted the bank does not know the size of its exposure to a major British banking misconduct scandal that had engulfed its Scottish subsidiary, Clydesdale Bank. The Fin
Nahan takes GST fight to Canberra
Treasurer Mike Nahan will travel to Canberra to make the case for a fairer goods and services tax distribution directly to Federal MPs and senators. The West
The Australian Financial Review
Page 1: China’s property market is going through its worst slump on record and may not stabilise until early next year, triggering concerns declining home sales could undermine the broader economy.
Page 3: Officials for the socially conservative Shop, Distributive and Allied Employees Association were asked to compile dossiers on members’ political views, religious affiliations and marital status for the union’s chiefs, an inquiry heard.
Former federal treasurer Peter Costello has voiced his support to major retailers fighting the introduction of an “effects test” that would make it harder for big companies to take out smaller rivals.
Page 4: Wikileaks founder Julian Assange on Monday night declared he would leave the Ecuadorian embassy in London and surrender to British police.
Prime Minister Tony Abbott has dismissed the alternative budget proposals of one crossbench senator as he stepped up his demand on the Upper House to pass his budget.
Page 6: Renewable energy companies, fossil fuel generators and investor groups have warned the federal government that abolishing the Renewable Energy Target will damage Australia’s reputation as an investment destination.
Page 7: Prime Minister Tony Abbott is facing new pressure to elevate climate change as a Group of 20 summit issue with the Committee for the Economic Development of Australia urging that it should be receiving more attention.
Page 8: Retailers have been put on notice to disclose surcharges on tap and go cards after the corporate regulator found supermarket chain Aldi had not displayed notification of fees.
Page 15: New National Australia Bank chief Andrew Thorburn had admitted the bank does not know the size of its exposure to a major British banking misconduct scandal that had engulfed its Scottish subsidiary, Clydesdale Bank.
Page 17: Aurizon chief executive Lance Hockridge has confirmed the rail group will consider selling a stake in its Queensland tracks as it reported a 43 per cent fall in annual net profit to $253 million.
Newcrest Mining’s new chief Sandeep Biswas has dismissed criticism from analysts that the troubled gold giant has “no plan B” for its growing debt levels and will struggle to manage repayments long-term if the gold price doesn’t improve significantly.
Page 18: US oil player Apache has made what is being feted by some as potentially Australia’s largest oil discovery for 30 years, fuelling hopes of a new oil province located off the northwest coast.
Rio Tinto will consider divesting its majority stake in the controversial Bougainville Copper project, after the local government imposed tough new conditions on the project last week.
Page 20: Southern Cross Media Group has appointed Nick McKechnie as its chief financial officer, after the sudden resignation of Peter Lewis.
Page 21: OZ Minerals believes its Carrapateena deposit in South Australia warrants a $2.98 billion mine that runs for 24 years, under terms of a feasibility study revealed on Monday.
Page 23: Telstra has launched a new subsidiary dedicated to driving its hundreds of millions of dollars in start-up investments.
Page 29: Perth-based internet service provider iiNet will report its annual results on Thursday with most analysts expecting rising subscriber numbers thanks to the national broadband network.
The Australian
Page 1: Australian WikiLeaks founder Julian Assange has declared he will leave the Ecuador embassy “soon’’, claiming recent changes to British law may offer him some protection from immediate extradition to Sweden.
Page 4: The Abbott government has put two of its most contentious savings at the top of next week’s Senate program despite arriving at an impasse with Clive Palmer on its budget agenda.
Page 6: The sharpest drop in writing results in the national literacy test this year was among the top performing students, with the proportion of students scoring at the highest level halving in some states.
Page 17: The Chinese online job-market business backed by Seek and gaming billionaire James Packer is working on rolling out educational services in the world’s fastest-growing economy over the next 12 months, fresh from its successful listing on the New York Stock Exchange.
It is a case of back to the future for BHP Billiton today when its chief executive Andrew Mackenzie unveils plans for a leaner and simpler operational structure through the planned demerger of up to $20 billion in unwanted assets.
Page 19: Qantas is expected to announce a bottom-line loss of more than $1.1 billion when it next week unveils its worst result as a public company.
Page 22: Commonwealth Bank has unveiled its $2 billion-plus hybrid raising — the biggest in the market.
Moelis Australia expects to return to profit by the end of the year after booking an $US8 million ($8.6m) loss for the first half of 2014.
Page 27: The market for tablet computers crashed by 28 per cent in the first half of the year as consumers held off upgrading their devices.
Human-powered cryptographic protocols could be used to secure online transactions and electronic voting following a new research project.
The West Australian
Page 1: The University of WA is under pressure to cancel a planned lecture by a controversial Muslim activist whose radical organisation promotes the overthrow of Western governments and supports young Australian Muslims fighting in Syria and Iraq.
Page 4: The Federal Government faces a radical overhaul of its Budget as crossbench senators strengthen their opposition to key contentious proposals.
The wind and solar power industry warns slashing or axing the renewable energy target would be “reckless” and put 20,000 jobs and billions of dollars of investment at risk.
Page 6: Fremantle’s harbourmaster says a rare and impossible-to predict “wind bomb” helped rip two ships off their stern moorings on Sunday night.
Page 10: Treasurer Mike Nahan will travel to Canberra to make the case for a fairer goods and services tax distribution directly to Federal MPs and senators.
Page 13: The State Government is considering a new tax for regional WA to fund private land acquisition for parks, bush and major infrastructure projects.
Business: Hopes of a new export terminal for junior iron ore miners at Port Hedland are in danger of being overtaken by events elsewhere in the Pilbara, with the Supreme Court told Atlas Iron and Brockman Mining’s South West Creek berths were unlikely to be built before 2019.
A decision five years ago to commit $500,000 to explore an overlooked part of the North West Shelf has paid off handsomely for Carnarvon Petroleum and Finder Exploration, which yesterday laid claim to the biggest oil discovery in Australia in 30 years.
Doray Minerals managing director Allan Kelly says the company’s decision to take a huge hit in its full-year financials is purely an accounting measure and should not detract from the gold miner’s positive outlook.
Aurizon’s profit has slumped 43 per cent and looming strike action poses another threat to earnings, highlighting why Australia’s biggest freight operator has been so keen to expand into Pilbara iron ore.
A rare earth elements mine in the Kimberley has been recommended for conditional environmental approval.
The company hoping to build a $400 million internet cable from Perth to Singapore — and through the Pilbara — says it is two months away from securing the funding to build the project despite already passing its June 30 deadline.
