03/10/2014 - 05:35

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03/10/2014 - 05:35

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Poseidon to save up to $240m in project deal with BHP The Andrew Forrest-backed Poseidon Nickel believes it can save up to $240 million in development costs at its Windarra project in Western Australia as a result of an off-take agreement with BHP Billiton’s Nickel West business. The Aus

Poseidon to save up to $240m in project deal with BHP

The Andrew Forrest-backed Poseidon Nickel believes it can save up to $240 million in development costs at its Windarra project in Western Australia as a result of an off-take agreement with BHP Billiton’s Nickel West business. The Aus

ANZ chief warns on house prices

ANZ Banking Group chief executive Mike Smith says home buyers should heed warnings that house prices can fall and has unexpectedly said he is not worried about the prospect of central bank intervention to curb lending. The Fin

GP payment law on hold

Plans to introduce legislation for the controversial $7 GP co-payment into Parliament this week were pulled at the last minute by Health Minister Peter Dutton, as the government refocuses its budget strategy on measures it has support for. The Fin

Discovery delay play to court Aspen investors

A second spurned bidder for the $200 million Aspen Parks Property Fund is mulling a last-minute challenge to buy time to promote its offer to investors. The West

Killarnee ‘insolvency’ flagged

A contractor involved in building key infrastructure at Chevron’s Gorgon LNG project could have been trading while insolvent up to 14 months before calling in administrators. The West

Maccas plans $1bn ‘gourmet’ makeover

Fast-food chain McDonald’s plans to spend more than $1 billion over the next five years expanding its restaurants around Australia and re-modelling others to take in plans for more “create your own” burgers. The West

Nickel West buyers look for supply

Buyers for BHP Billiton’s Nickel West business are scrutinising the sector’s junior miners as they weigh up the potential for long-term supply for one of its key assets, the Kalgoorlie smelter. The Fin

$1.2bn forgone in search for acceptable budget cuts

Gridlock in the Senate has wiped $1.2 billion off the federal government’s welfare reforms, in the first official admission of the cost of delaying unpopular savings on pensions and benefits, escalating a political brawl over how to balance the budget. The Aus

 

 

The Australian Financial Review

Page 1: ANZ Banking Group chief executive Mike Smith says home buyers should heed warnings that house prices can fall and has unexpectedly said he is not worried about the prospect of central bank intervention to curb lending.

Page 3: Savers are still paying up to 2.6 per cent in fees on MySuper retirement products, despite them being promoted as low cost, no-frills investment options.

Page 4: Plans to introduce legislation for the controversial $7 GP co-payment into Parliament this week were pulled at the last minute by Health Minister Peter Dutton, as the government refocuses its budget strategy on measures it has support for.

The $10 billion budget hole caused by the inability to pass a raft of welfare cuts has blown out by another $1 billion after the Greens rejected a deal to abolish seniors supplements for retirees.

Page 6: The Reserve Bank of Australia’s annual profit fell 39 per cent in 2013-14, supporting Treasurer Joe Hockey’s decision a year ago to restock the central bank’s crisis-depleted capital buffer with a controversial $8.8 billion grant.

Page 12: The telecommunications industry has slammed a proposal by an expert committee to break up the NBN.

Page 15: Buyers for BHP Billiton’s Nickel West business are scrutinising the sector’s junior miners as they weigh up the potential for long-term supply for one of its key assets, the Kalgoorlie smelter.

Page 16: With iron ore prices at five-year lows and Arrium shares trading well below the 48¢ offered in its $754 million equity raising, analysts are asking if the steel and mining group is a bargain buy or a basket case.

Poseidon Nickel will be looking for less than $US20 million ($22.7 million) funding to get its Windarra project into production rather than the $US300 million initially expected by the company after signing an off-take agreement with BHP Billiton’s Nickel West.

 

 

The Australian

Page 1: Regional universities will be no worse off under the government’s plan to deregulate student fees, an independent report has concluded, effectively scuttling calls for a $100 million structural adjustment fund.

Page 2: Gridlock in the Senate has wiped $1.2 billion off the federal government’s welfare reforms, in the first official admission of the cost of delaying unpopular savings on pensions and benefits, escalating a political brawl over how to balance the budget.

The softening of China’s economy shows no signs of affecting Australia’s performance, with iron ore exports running at close to record levels and coal shipments not far behind.

Page 3: The Reserve Bank has confirmed a crackdown on lending to property investors is on the way but has ruled out hard limits on loan sizes that would hurt first home buyers.

Page 6: The Queensland government says Clive Palmer’s deal with Labor and the Greens to abolish the proposed “one-stop shop” for mining approvals will make it harder for his own coal project in the Galilee Basin to get approval.

Page 8: One in four unemployed people on the Newstart Allowance has a significant disability, according to new data from the Department of Human Services.

Page 19: Fairfax Media has revived a possible sale of its underperforming radio network, with investment bank Macquarie undertaking an informal mandate to review options for the media company.

Virgin Australia’s plan to “turbocharge’’ the growth of its Velocity frequent-flyer unit remains on track after the Foreign Investment Review Board gave backing to the sale of a 35 per cent stake in program.

Fast-food chain McDonald’s plans to spend more than $1 billion over the next five years expanding its restaurants around Australia and re-modelling others to take in plans for more “create your own” burgers.

Page 20: The steep plunge in the nickel price witnessed in recent weeks cast a pall over yesterday’s Australian Nickel Conference, with an industry that would have felt it was safely out of the doldrums a month ago now detecting the return of a faint hint of unease.

The Andrew Forrest-backed Poseidon Nickel believes it can save up to $240 million in development costs at its Windarra project in Western Australia as a result of an off-take agreement with BHP Billiton’s Nickel West business.

 

 

The West Australian

Page 3: Tony Abbott will seek to overturn plans to segregate women wearing burqas behind a glass panel when watching Parliament after a fierce public backlash and private condemnation from his colleagues.

Colin Barnett says Palmer United Party senator Jacqui Lambie has contributed nothing towards a harmonious Australia and that debate over the burqa in Canberra is unnecessary.

Page 20: There are signs organised crime is moving into large-scale counterfeiting, with an explosion in dodgy notes circulating in the nation’s malls and shops.

Joe Hockey’s Budget papers will show up to $10 billion of savings that have no chance of passing Parliament, prompting Opposition claims that the Treasurer will cook the books to disguise Government failure.

Business: BHP Billiton yesterday turned to the historic Mt Windarra mine to feed its hungry Leinster concentrator after the mining giant’s unloved Nickel West division signed an off-take agreement with Poseidon Nickel.

A second spurned bidder for the $200 million Aspen Parks Property Fund is mulling a last-minute challenge to buy time to promote its offer to investors.

A contractor involved in building key infrastructure at Chevron’s Gorgon LNG project could have been trading while insolvent up to 14 months before calling in administrators.

Private companies could be allowed to help remote and isolated customers cut themselves off from the South West grid as part of a major revamp of the electricity system.

Commonwealth Bank shareholders will next month decide if boss Ian Narev can be paid up to $4.7 million in shares as a long-term bonus.

Emanuel Dillon’s Complete Group has bought its second North West hotel in Onslow’s Beadon Bay Hotel.

Sun Resources is hoping to gather some momentum from the positive outcome of a well drilled at its Texas, US, properties ahead of today’s rights issue deadline.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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