BC Iron go-slow on Buckland
BC Iron has flagged a go-slow approach to Iron Ore Holdings’ $744 million Buckland project as it tries to win back investor support amid the worst iron ore market in more than a decade. The West
Seven pumps more into Nexus
Kerry Stokes’s Seven Group has agreed to substantially increase a credit line to collapsed Nexus Energy to allow it to push ahead with the development of its two key gas fields. The Aus
Fossil fuel champions fight ‘unethical’ label
Switching to a super fund that shuns fossil fuel companies as unethical could cost a 45-year-old almost $58,000 in lost retirement savings, an actuarial study for the Minerals Council of Australia has found. The Fin
Pluton assets at risk after missed royalty
Iron ore miner Pluton Resources is about to complete a capital raising of more than $47.5 million without disclosing that its mining assets are at risk of being seized. The Fin
Synergy puts case to be split
Synergy wants to be broken into different businesses — less than a year after Premier Colin Barnett created the power giant by stitching together WA’s retailer and generator. The West
Sector opens door on RET
Major renewable energy companies have told the Abbott government they will support a full exemption from the renewable energy target for the aluminium industry if the compromise can clinch a deal between the Coalition and Labor on the future of the policy. The Aus
Hockey seeks foreign funds for assets
Powerful investors are being urged to turn their sights on Australian asset sales and infrastructure projects in a bid by Joe Hockey to attract more foreign investment from Wall Street. The Aus
The Australian Financial Review
Page 1: John Fraser, a former deputy Treasury head and one of only few top-ranked UBS executives to survive the Swiss banking giant’s 2008 near-death experience, looks set to replace Martin Parkinson as the nation’s leading economic bureaucrat.
Heavyweight fund manager IFM Investors has taken a $685 million write down on its Pacific Hydro renewable business, and roughly half was due to proposed changes to renewable energy policy and weaker electricity demand.
Page 3: The Reserve Bank of Australia’s jaw boning has hit the housing market more than many realise, says property stalwart, Ray White chairman Brian White.
Page 4: Switching to a super fund that shuns fossil fuel companies as unethical could cost a 45-year-old almost $58,000 in lost retirement savings, an actuarial study for the Minerals Council of Australia has found.
Page 7: The government is prepared to take its most unpopular budget measures to the next election if necessary, Finance Minister Mathias Cormann says, and will continue to bank savings from those measures in the budget even if they have not yet passed through Parliament.
Page 15: Australian Competition and Consumer Commission chairman Rod Sims says he will not push supermarkets to divest assets despite a stern warning from former Woolworths executive Tony Leon that the retailer’s liquor operations had become far too powerful and should be spilt in two.
Page 17: Companies are set to come under scrutiny for “gaming” earnings to meet executive bonus hurdles and for favouring large investors in capital raisings as the peak season for annual meetings kicks off in earnest this week.
Page 22: Iron ore miner Pluton Resources is about to complete a capital raising of more than $47.5 million without disclosing that its mining assets are at risk of being seized.
Page 27: Copper exploration hopeful Emperor Range Group is the latest Chinese company to take a tilt at raising money through a listing on the Australian Securities Exchange for a highly speculative, early-stage resource project.
The Australian
Page 1: A massive spending burden threatens to tip the nation into decades of deficits, according to new government findings that will be released early next year to jolt parliament — and the public — into accepting another wave of budget reform.
Major renewable energy companies have told the Abbott government they will support a full exemption from the renewable energy target for the aluminium industry if the compromise can clinch a deal between the Coalition and Labor on the future of the policy.
Page 3: Millionaire entrepreneur and aviator Dick Smith has threatened the board of the government’s aviation safety body with legal action for failing to implement a ministerial directive on radar protocol.
Page 15: Powerful investors are being urged to turn their sights on Australian asset sales and infrastructure projects in a bid by Joe Hockey to attract more foreign investment from Wall Street.
Page 16: Kerry Stokes’s Seven Group has agreed to substantially increase a credit line to collapsed Nexus Energy to allow it to push ahead with the development of its two key gas fields.
The American oil giant once hailed as the saviour of the North Sea is to quit Britain after putting all of its fields up for sale.
Page 17: Local investors have applauded National Australia Bank’s move to float a minority stake in its orphan US arm Great Western Bank, freeing up at least $386 million in the process.
The West Australian
Page 1: Life, disability and income protection insurance premiums are rocketing up to 85 per cent amid a surge in claims being blamed on everything from stressful work to zealous lawyers.
Page 3: Synergy wants to be broken into different businesses — less than a year after Premier Colin Barnett created the power giant by stitching together WA’s retailer and generator.
Apple will unveil its new iPads on October 16 as the company seeks to kick-start slowing sales of its tablet computers.
Page 4: Midland train station will not be moved closer to the new Midland hospital before it opens at the end of next year.
Page 5: WA’s first shark barrier could be back in the water at Coogee beach this summer despite missing out on State Government funding, with the City of Cockburn to vote on funding another test from its own budget.
Page 7: Chinese investors are eyeing off Perth’s housing market in a move experts say could underpin higher prices.
Page 14: The protracted wait for the blueprint that will map WA’s new local government boundaries is heaping stress and anxiety on workers uncertain about their future, according to the key groups representing the sector.
Business: BC Iron has flagged a go-slow approach to Iron Ore Holdings’ $744 million Buckland project as it tries to win back investor support amid the worst iron ore market in more than a decade.
Azure Consulting has fuelled the frenetic action in Perth’s advisory sector with a high-profile hiring as part of a new round of appointments supporting its fast growing boutique management consultancy.
The phrase changing winds and shifting sands is apt for IMX Resources, which probably deserves status as a poster child for what is happening at the junior end of the mining sector.
Past and current public servants who are members of GESB will be hit with a 39 per cent hike in death and disablement insurance premiums on policies they have taken out with their fund.