Nickel West too complex for BHP and NewCo
BHP Billiton chief executive Andrew Mackenzie has for the first time hinted that Nickel West’s reliance on third-party ore feed was one of the key reasons the Goldfields division was being jettisoned and will not find a home in its NewCo spin-off. The West
Optimistic Rinehart tips early shipment
Gina Rinehart has added a touch more pressure to the construction team at her $10 billion Roy Hill iron ore project, saying an already-ambitious plan to ship first ore in September next year could be brought forward. The West
Barnett asks PM for $350m
Colin Barnett has asked Tony Abbott for $350 million to complement WA’s record $1.3 billion native title settlement over the South West. The West
Business fights tough ACCC rule
The major players in banking, resources, retail, transport, property, telecommunications, technology and media are preparing to campaign against proposed competition laws that could make them responsible for the financial woes of their rivals. The Fin
Coalition split over wheat deregulation
The federal Coalition is poised for a stoush over wheat deregulation that will pit Western Australian Liberal MPs against their east coast counterparts. The Fin
Reporting gives credit where due
Banks have been warned that high credit quality customers will be encouraged to negotiate lower interest rates on their loans with borrowers able to access their credit scores for free from Tuesday on a new website backed by peer-to-peer lender Society One. The Fin
Telstra defends handing over data
Telstra handed over the private data — including names, addresses and billing information — of more than 85,000 of its customers to law enforcement and regulatory agencies last year. The Aus
The Australian Financial Review
Page 1: The major players in banking, resources, retail, transport, property, telecommunications, technology and media are preparing to campaign against proposed competition laws that could make them responsible for the financial woes of their rivals.
Page 3: Self-managed super funds own $68 billion of commercial property, largely because of the range of incentives for small enterprises to hold their business premises through their super fund.
Page 4: The government has rejected an offer by Clive Palmer to means test the GP co-payment, ending any chance of blanket exemptions for those on low incomes.
Public support for the Renewable Energy Target has surged past 80 per cent in the past 12 months and doubts about it have eroded, underscoring the difficulty facing the government as it seeks to scale back or end the scheme.
Page 10: Secret weekly commissions were allegedly paid by companies associated with underworld-connected businessman George Alex to the Construction, Forestry, Mining and Energy Union in exchange for “goodwill” in enterprise bargaining agreement approvals, a royal commission was told.
The federal Coalition is poised for a stoush over wheat deregulation that will pit Western Australian Liberal MPs against their east coast counterparts.
Page 15: Banks have been warned that high credit quality customers will be encouraged to negotiate lower interest rates on their loans with borrowers able to access their credit scores for free from Tuesday on a new website backed by peer-to-peer lender Society One.
Qantas Airways is poised to return to a profit before rival Virgin Australia Holdings, but the result will be driven more by cost cutting than an improvement in market conditions, analysts say.
Page 18: The nation’s largest fund managers are racing to set up global equities teams as the $1.85 trillion superannuation system outgrows the local equity market and the economy.
Page 21: As householders’ thoughts turn to gardening, painting and outdoor projects with the arrival of spring, Woolworths is ramping up marketing for its Masters home improvement chain in an attempt to increase brand awareness and lure more shoppers into stores.
The Australian
Page 1: Unemployed people under 30 would face a shorter wait for the Newstart Allowance payment than the six-month proposal unveiled in the budget, as the Abbott government prepares to compromise in order to get its controversial welfare reforms through the Senate.
Page 3: Companies owned by Sydney crime figure George Alex made regular illicit payments every week running to thousands of dollars to officials of the militant construction union as “the cost of doing business”.
Page 4: The Coalition’s plan to have a one-stop shop for environmental approvals is set to save business $420 million a year by reducing approval delays for large projects.
Page 6: The Rudd government prioritised speed over planning for its bungled $2.7 billion insulation scheme, failing to consider the risk of installers dying until too late and approving dangerous foil insulation despite serious warnings.
Page 7: Telstra handed over the private data — including names, addresses and billing information — of more than 85,000 of its customers to law enforcement and regulatory agencies last year.
Page 19: Investors piling into the hot property market are setting themselves up for a “payment shock” when interest rates rise next year, creating stress on the nation’s banking system due to an increase in riskier loans.
Andrew Forrest has a message for the next generation of philanthropists in Australia. “People should put into philanthropy not just to feel good, but to do good.’’
Page 20: The Kerry Stokes-controlled Seven Group Holdings has acquired a stake in quality Texas oil ground at less than what the ground is worth, says field operator Apache Corporation, which is suing Seven over the purchase.
Page 21: Westfield spin-off Scentre Group has issued a statement to the Australian Securities Exchange confirming its focus on finding buyers to jointly own its shopping malls, following speculation it is mulling a sale of half of its $2.6 billion New Zealand portfolio.
Page 29: The smartphone market is about to be up-ended by a swag of new handset launches including Apple’s long-awaited iPhone 6, just as more Chinese phone manufacturers home in on the premium Australian market.
Page 31: A senior Oracle executive claims the company will win the battle of the marketing clouds — worth more than $US50 billion a year globally — despite launching its full digital marketing cloud platform in Australia two years after some of its biggest competitors.
The West Australian
Page 3: The State Government will support farmers who want to grow opium, one of the most dangerous but extremely lucrative crops, after the Abbott Government decided to allow poppies to be grown outside Tasmania.
Page 4: WA Liberal MPs and senators will meet this morning to strike a united front against a push by their east coast colleagues to hinder the deregulation of the wheat export industry.
Page 5: Fines for illegally parking in disabled bays will double to as high as $2000 by the end of the year amid concerns they are not yet big enough to dissuade drivers.
Page 7: Perth is set to get its first high-rise school in the heart of the city with a six-storey office building in William Street that will be converted to classrooms.
Page 8: Colin Barnett has asked Tony Abbott for $350 million to complement WA’s record $1.3 billion native title settlement over the South West.
Page 9: WA’s health chief says progress is being made to mend the State’s ailing mental health system but he admits not enough has been spent on capital investment, including more beds.
Page 10: The richest horse race in Queensland is now part of Seven West Media’s growing sport broadcast portfolio after a long-term agreement was signed with Magic Millions Sales Pty Ltd.
Page 14: The Federal Government is seeking to ramp up pressure on the Palmer United Party to axe the mining tax, ramming repeal Bills through the Lower House to fast-track a Senate showdown.
Business: BHP Billiton chief executive Andrew Mackenzie has for the first time hinted that Nickel West’s reliance on third-party ore feed was one of the key reasons the Goldfields division was being jettisoned and will not find a home in its NewCo spin-off.
New Troy Resources boss Martin Purvis says his appointment heralds no revolutionary change of direction for the South America focused gold miner, believing the worst of a bad patch for the company is now behind it.
Gina Rinehart has added a touch more pressure to the construction team at her $10 billion Roy Hill iron ore project, saying an already-ambitious plan to ship first ore in September next year could be brought forward.
ERM Power is set to simplify its exposure to the onshore Perth Basin in a move that will cement its position as Empire Oil & Gas’ dominant shareholder.
WA is on target for another solid grain harvest after a wet end to winter for many growers as confidence soars across the State’s agricultural industries.
South Africa’s Woolworths was last night bedding down the terms of a 10 billion rand ($1 billion) rights issue to help refinance its purchase of David Jones.
