Morning Headlines

Rinehart rejects talk of Korean raid

Gina Rinehart’s Hancock Prospecting has rejected speculation that Korea Development Bank is planning to buy a 5 per cent stake in the magnate’s flagship $10 billion Roy Hill iron ore project in the Pilbara. The Aus

Avita stalls as ReCell seeks nod

Spray-on skin biotechnology company Avita Medical has gone into a trading halt as it sweats on a decision on further regulatory approval for its ReCell product, developed by renowned plastic surgeon Fiona Wood and used to treat victims of the Bali bombing. The Aus

Cashless welfare card in favour

The cashless welfare card proposed by mining magnate Andrew Forrest is the favoured model to replace income management after next July. The Aus

Hancock allows GVK more time

Gina Rinehart’s Hancock Prospecting has granted an open-ended extension for a $US560 million($622million)payment from its Galilee Basin partner, Indian giant GVK, as plunging coal prices test the economics of one of the country’s biggest undeveloped coal projects. The Fin

PM to cut tax burden on employee share schemes

Employers will gain more scope to issue shares and stock options to their workers under an imminent federal reform that aims to transform workplace culture. The Aus

Falling dollar aids ailing WA budget

The falling dollar may be a partial panacea for Western Australia’s debt-ridden budget, which has been crunched by a rapidly declining iron ore price. The Fin

Fashion goes XS for Asian buyers

Perth-based label Morrison released its latest collection a few weeks ago that for the first time featured an extra, extra small size for some pieces. The Fin

Former Leighton’s boss to chair Sundance board

The controversial former boss of Leighton Holdings, Wal King, will replace George Jones as chairman of iron ore aspirant Sundance Resources. The Fin

The Australian Financial Review

Page 1: United States interest rates hikes could trigger global market turbulence, the Organisation for Economic Co-operation and Development has warned, as the dollar dropped below US90¢ for the first time in six months.

A vote for Scottish independence would weaken the United Kingdom and work against Australia’s national interest, according to Australia’s longest-serving Foreign Minister, Alexander Downer.

Page 3: Perth-based label Morrison released its latest collection a few weeks ago that for the first time featured an extra, extra small size for some pieces.

Page 4: Liberal MP Peter Hendy has escalated calls for his own government to immediately start its tax white paper review to maximise chances of selling difficult change before the next federal election.

The falling dollar may be a partial panacea for Western Australia’s debt-ridden budget, which has been crunched by a rapidly declining iron ore price.

Page 5: A referendum on recognising indigenous people in the constitution is likely to be delayed until after the next election, with Prime Minister Tony Abbott promising to announce the timing in coming weeks.

Page 9: The dairy industry expects to remain at a price disadvantage to New Zealand even after a trade agreement with China is implemented, at least in the early stages.

Page 15: Gina Rinehart’s Hancock Prospecting has granted an open-ended extension for a $US560 million($622million)payment from its Galilee Basin partner, Indian giant GVK, as plunging coal prices test the economics of one of the country’s biggest undeveloped coal projects.

Arrium chief executive Andrew Roberts is standing by the steel and mining group’s decision to announce $41 million dividend last month after a collapse in iron ore prices pushed Arrium into a $754 million capital raising to shore up its balance sheet.

Page 17: Seven Group Holdings chief executive Don Voelte has insisted his company’s reluctance to embrace media law reforms is due to concerns about the government reacting to “one-off” requests and not because the Kerry Stokes company wants to prevent its rivals from doing a deal.

AGL Energy, Origin Energy and Energy Australia face a fresh competitive threat in their key electricity retail markets after Snowy Hydro declared its intention to use newly acquired Lumo Energy to beef up its position in NSW and as a springboard into new markets.

Page 19: The Financial Services Council has defended the big banks’ control of retail super funds arguing members benefit from the “scope and scale” they bring, and that rival fund sectors are not open to competition.

Page 20: Rio Tinto is a big step closer to getting its Mongolian copper project back on track, after a Mongolian minister confirmed that a tax dispute had been resolved.

Page 21: Shares in troubled Lynas Corporation slumped on Monday, with investors disappointed that the rare earths miner ceased debt negotiations with Japanese financial firm Nomura.

The controversial former boss of Leighton Holdings, Wal King, will replace George Jones as chairman of iron ore aspirant Sundance Resources.

Page 42: A spate of technology and digital companies have leased the new 452-square-metre Northbridge Tech Hub in Perth at $385 a square metre. The lessees include technology company Atomic Sky and digital agencies Clever Starfish, Tinder Box and Fast Hit.

The Australian

Page 1: Employers will gain more scope to issue shares and stock options to their workers under an imminent federal reform that aims to transform workplace culture.

Page 2: Tony Abbott wants the creation of a new global infrastructure institution to be one of his key achievements of the Brisbane G20 summit but he is facing opposition from governments concerned about setting up a new bureaucracy and duplicating work already being done.

Chinese investment in Australian agriculture is set to boom, with the Chinese-government owned Beijing Agricultural Investment Fund yesterday committing to spend $3 billion on Australian dairy, beef, lamb and aquaculture assets.

Page 3: The Maritime Union of Australia is set to pursue fresh legal action after the Federal Court rejected its bid to stop the Abbott government easing restrictions on the use of foreign workers on offshore oil and gas projects.

The head of animal rights group Sea Shepherd has condemned a member of his own advisory board, Howard government environment minister Ian Campbell, for endorsing the killing of sharks as a method of protecting human life.

Page 5: The cashless welfare card proposed by mining magnate Andrew Forrest is the favoured model to replace income management after next July.

Page 17: The dramatic drop in the iron ore price and fears a strong rebound is far off have forced mining and steel group Arrium to tap the market for $754 million to reduce its debt.

Initial public offerings by private equity companies have provided the most lucrative returns to investors since June last year, in a period when a pipeline of 36 floats worth about $14.6 billion collectively has debuted on the Australian Securities Exchange.

Page 18: Gina Rinehart’s Hancock Prospecting has rejected speculation that Korea Development Bank is planning to buy a 5 per cent stake in the magnate’s flagship $10 billion Roy Hill iron ore project in the Pilbara.

Elders has asked shareholders to wait up to three more years before receiving dividends and hybrid distributions if they support a rights issue designed to eliminate the last of the company’s term debt.

Page 25: Spray-on skin biotechnology company Avita Medical has gone into a trading halt as it sweats on a decision on further regulatory approval for its ReCell product, developed by renowned plastic surgeon Fiona Wood and used to treat victims of the Bali bombing.

The West

Africa's largest gold producer AngloGold Ashanti has scrapped a planned demerger and rights issue after a shareholder revolt against the overhaul announced five days ago, and might be forced to sell assets to shore up its finances.

Heineken has rejected a takeover bid by British rival SABMiller after the family-controlled Dutch beer giant said it preferred to remain independent.

Asbestos victims have rejected a "morally bankrupt" proposal for James Hardie to ditch lump sum compensation packages in favour of instalment payments.

Macquarie Group's profit is set to surpass last year's $1.27 billion, as financial markets continue to improve.

Papillon Resources shareholders today officially gave the green light to Canadian-listed suitor B2Gold's $615 million takeover of the company at a meeting in Perth today.

Bulletproof Group, the of Sydney IT company that backdoor listed through the shell of Perth explorer Spencer Resources, announced it had banked $4.27 million through a new capital raising.