Morning Headlines

BHP’s big cost crusher

BHP Billiton is vowing to slash its costs of mining iron ore in the Pilbara by 25 per cent to below $US20 a tonne, as it pledged to claim Rio Tinto’s long-held mantle as the cheapest exporter of iron ore to China. The Fin

Nahan’s hit list of key projects

WA Treasurer Mike Nahan has warned that urban infrastructure is on the chopping block as falling iron ore prices and a corrupted GST system drain the State’s coffers. The West

Labor agrees to aluminium exemption

Federal Labor has agreed to exempt the aluminium industry from the Renewable Energy Target, in the first concession towards reshaping the policy. The Fin

Pilbara tower advice ‘ignored’

The Barnett Government increased the residential density of the new Pilbara apartment complex by donor developer Finbar against the advice of key bureaucrats, increasing the project’s value by $100 million. The West

Leave the credit card at home and head to your local smart-pub

Woolworths’ $1.5 billion pubs business ALH Group is forging ahead with fresh technology in its 329 pubs, signing a deal with mobile payments company Clipp to enable a smartphone app to be used inside the venues as they increasingly shift toward a cashless system. The Fin

Investors in rush for Telstra buyback

Investors have scrambled to offload shares as part of Telstra’s $1 billion buyback, with the telco giant revealing that the offer was oversubscribed by close to 70 per cent. The Aus

Discovery cries foul in Aspen Parks takeover tussle

Discovery Holiday Parks isn’t pulling any punches with its Takeovers Panel application challenging the rejection of its takeover offer for Aspen Parks Property Fund. The West

Conoco quits Kimberley hope

ConocoPhillips has joined the throng of resources giants pulling out of long-dated exploration plays, yesterday ending ambitions to discover oil and gas in Kimberley shales. The West

The Australian Financial Review

Page 1: BHP Billiton is vowing to slash its costs of mining iron ore in the Pilbara by 25 per cent to below $US20 a tonne, as it pledged to claim Rio Tinto’s long-held mantle as the cheapest exporter of iron ore to China.

The $8 billion Local Government Super fund will no longer invest in coal companies but will buy uranium stocks, a bet on the sharemarket impact of global action by governments to combat climate change.

Page 3: Qantas Airways will introduce new benefits for its most elite tier of frequent flyer members to reward them for their loyalty and encourage those with a lower loyalty card status to book more flights to join the top level.

Page 4: Federal Labor has agreed to exempt the aluminium industry from the Renewable Energy Target, in the first concession towards reshaping the policy.

Page 13: Construction software maker Aconex will become the latest in a surge of disruptive technology companies to list on the ASX, with an initial public offering to be completed the end of November valuing the Melbourne-based company at between $400 million and almost $700 million.

Page 15: Telstra shareholders have been so keen on the telco’s $1 billion buyback that it was oversubscribed by almost 70 per cent.

Leading company chairman Donald McGauchie has blasted governments for failing to invest in critical regional infrastructure, saying it was “crazy” the increasing amount of grain being delivered to the nation’s ports using roads instead of rail.

Page 16: Woolworths’ $1.5 billion pubs business ALH Group is forging ahead with fresh technology in its 329 pubs, signing a deal with mobile payments company Clipp to enable a smartphone app to be used inside the venues as they increasingly shift toward a cashless system.

Page 20: Australian online retailers say their numbers remain strong, in contrast to overall retail figures that have shown growth well below levels expected by economists.

Page 25: Australian shares fell on the eve of the Reserve Bank of Australia’s October policy meeting, led down by the big miners amid ongoing weakness in major commodities and the local currency, although volumes were low because of the public holiday in many states.

The Australian

Page 1: Global economic woes will force the Abbott government to cut its budget outlook as Joe Hockey insists on making “realistic” forecasts in response to factors out of his control.

Tony Abbott and the Coalition are clawing back support in South Australia, Western Australia and NSW but Bill Shorten and Labor are making strong gains in Queensland and dominate in Victoria.

Page 2: Supermarket giant Coles has admitted an “ethical and moral responsibility” to ensure all workers on its sites — including subcontractors — are fairly paid, in an enforceable agreement with the Fair Work Ombudsman in which allegedly underpaid trolley collectors will be awarded hundreds of thousands of dollars.

Page 6: The World Bank has sharply downgraded its forecast for global economic growth this year and warns that a sudden rise in interest rates could undermine prospects for a recovery in 2015.

Page 17: Fairfax Media’s shareholders have welcomed chairman Roger Corbett’s intention to step down.

Telstra chief executive David Thodey is urging leading world economies to get behind proposals for a new global infrastructure institution being pushed by Australia at this week’s G20 meeting in Washington.

Page 18: China is set to be a major player in state government privatisation sale processes as the booming nation eyes stable infrastructure assets delivering returns that outpace those on offer in other nations.

Page 19: Virgin Australia chief John Borghetti believes the 80-movement-an-hour cap on landings and take-offs at Sydney airport could be relaxed during working hours.

Page 25: The local sharemarket closed lower yesterday, with the resources sector taking a beating following further slumps in commodity prices, and in a day when volumes were too light to spark a turnaround.

Investors have scrambled to offload shares as part of Telstra’s $1 billion buyback, with the telco giant revealing that the offer was oversubscribed by close to 70 per cent.

The West Australian

Page 1: WA Treasurer Mike Nahan has warned that urban infrastructure is on the chopping block as falling iron ore prices and a corrupted GST system drain the State’s coffers.

Page 3: The Barnett Government increased the residential density of the new Pilbara apartment complex by donor developer Finbar against the advice of key bureaucrats, increasing the project’s value by $100 million.

Page 9: Surf Lifesaving WA says people could be injured if shark barriers are installed at some beaches named as potential locations in the State Government’s latest shark prevention plan.

Page 10: WA employers are looking to hire staff in a sign of economic optimism offsetting the downturn in mining.

Page 11: The Barnett Government will hand responsibility for building and maintaining State schools to private industry for the first time in WA.

Page 13: With more cruise ships coming to Fremantle this year than ever before, plans are under way to spruce up Victoria Quay into a vibrant restaurant, cafe and retail precinct.

Page 15: WA Labor wants the Barnett Government to guarantee the public will get access to East Perth power station buildings, with Opposition Leader Mark McGowan floating the idea of it being home to a private art collection.

Business: Discovery Holiday Parks isn’t pulling any punches with its Takeovers Panel application challenging the rejection of its takeover offer for Aspen Parks Property Fund.

Boeing has announced plans to increase production of its record-breaking 737 program — from 42 to 52 planes a month — in response to robust demand from airlines around the globe.

Silver Lake Resources has handed over its mothballed Murchison gold mill to a private consortium under a 10-month lease worth $7.9 million.

ConocoPhillips has joined the throng of resources giants pulling out of long-dated exploration plays, yesterday ending ambitions to discover oil and gas in Kimberley shales.

Undeterred by a uranium price that effectively prevents any new mine development, Toro Energy yesterday kicked off the environmental approvals process for a much bigger Wiluna operation.

The Anglican Diocese of Perth is joining the growing movement of institutional investors severing investment links to fossil fuels.