Watpac staggered by Pluton predicament
The appointment of administrators to struggling iron ore miner Pluton Resources has stunned its mining contractor Watpac, who believed the company was back on “solid footing”. The Fin
Chevron hires ‘floatel’ as Gorgon dates slip
Chevron will site one of the world’s largest cruise ferries off Barrow Island in Western Australia to house an extra 1200 workers needed to complete its $US 54 billion ($61 million) Gorgon liquefied natural gas project, which has slipped further behind its already revised start-up schedule. The Fin
Shops wary of opening early
Woolworths is the only retailer so far to declare it will definitely use WA’s new Christmas trading hours, under which big stores can trade from 7am six days a week and 8am on Sundays. The West
Amcom tips breakthrough on $1b Vocus merger talks
Amcom Telecommunications chief executive Clive Stein says merger talks with Vocus Communications to create a $1.1 billion telco could reach a decision point within a week. The Fin
Frustrated dairy group sets up Brownes switch
A collective of farmers producing tens of millions of litres of milk a year looks set to shift allegiances from Harvey Fresh to Brownes in the latest twist in WA’s dairy wars. The West
Westpac dividend alert
Australia’s big banks might cut their billions in dividends if they are required to hold more capital as a result of David Murray’s Financial System Inquiry, undermining economic growth, Westpac Banking Corporation chief executive Gail Kelly said. The Fin
Woolies sales grow at half rate of Coles
Investors punished Woolworths for taking its eye off groceries as well as posting slowing sales momentum across its key retail operations in the first quarter, stripping more than $2.2 billion from the supermarket’s value as the sales gap between it and rival Coles widens. The Aus
Suit taken by Rinehart’s daughters
The two eldest children of mining magnate Gina Rinehart have initiated another blistering attack on their mother, launching a case to dispute the ownership of assets and shares within her multi-billion dollar empire. The Fin
Toro secures cash, uranium stake in private equity deal
Toro Energy has managed to defy the grim conditions currently starving the global uranium sector, collecting $20 million and an interest in a significant Canadian project through a deal with private equity play The Sentient Group. The Aus
The Australian Financial Review
Page 1: Australia’s big banks might cut their billions in dividends if they are required to hold more capital as a result of David Murray’s Financial System Inquiry, undermining economic growth, Westpac Banking Corporation chief executive Gail Kelly said.
The head of one of Australia’s largest bank-owned superannuation funds wants to break the union control of industry super funds by making their boards run by a majority of independent directors.
Page 4: The two eldest children of mining magnate Gina Rinehart have initiated another blistering attack on their mother, launching a case to dispute the ownership of assets and shares within her multi-billion dollar empire.
Page 7: Increasing the GST rate to 12.5 per cent and scrapping health, education and food exemptions would boost revenue by $33.5 billion in 2018-19, new research by PwC shows.
Page 11: Woolworths is cutting prices for grocery staples and relaunching its popular animal trading cards in an attempt to reinvigorate sales and meet profit guidance after posting its lowest quarterly sales growth for more than a decade.
Page 13: Amcom Telecommunications chief executive Clive Stein says merger talks with Vocus Communications to create a $1.1 billion telco could reach a decision point within a week.
Page 15: Rebuilding consumer trust in a financial planning industry tarnished by a series of high-profile scandals is one of the most crucial objectives for the advice community, says BT Financial Group chief executive Brad Cooper.
Page 16: The appointment of administrators to struggling iron ore miner Pluton Resources has stunned its mining contractor Watpac, who believed the company was back on “solid footing”.
Page 17: Chevron will site one of the world’s largest cruise ferries off Barrow Island in Western Australia to house an extra 1200 workers needed to complete its $US 54 billion ($61 million) Gorgon liquefied natural gas project, which has slipped further behind its already revised start-up schedule.
The Australian
Page 1: Labor has chalked up its best run in Newspoll since April 2010 — before it dumped Kevin Rudd as leader.
Page 2: Older women who are unaffected by childcare or paid parental leave offer the best chance for meeting Tony Abbott’s ambition of raising the participation of women in the workforce.
Page 4: Federal interference in state affairs must be cut back in order to free up funds for schools and other essential services, according to experts who are answering Tony Abbott’s call for ideas to fix the federation.
It doesn’t get much more remote than the Ngaanyatjarra lands in Western Australia’s deep inland, yet peddlers of illicit drugs even have customers there now, says Aboriginal leader Bruce Smith.
Page 19: Investors punished Woolworths for taking its eye off groceries as well as posting slowing sales momentum across its key retail operations in the first quarter, stripping more than $2.2 billion from the supermarket’s value as the sales gap between it and rival Coles widens.
Page 22: Toro Energy has managed to defy the grim conditions currently starving the global uranium sector, collecting $20 million and an interest in a significant Canadian project through a deal with private equity play The Sentient Group.
AngloGold Ashanti swung to a narrow profit in the third quarter of 2014, as it continued to advance on an 18-month plan to shut mines and become a smaller, more streamlined company.
Page 29: Mirvac Group has deepened its reach into the hot industrial property market by snapping up five properties from a portfolio offered by Altis Property Partners in a $224.1 million play.
The West Australian
Page 3: Woolworths is the only retailer so far to declare it will definitely use WA’s new Christmas trading hours, under which big stores can trade from 7am six days a week and 8am on Sundays.
Page 11: Swiping a finger on an iPad is as natural to a modern pre-schooler as turning a page — but little research has been done on the impact of technology on children’s health.
Page 13: The Abbott Government might sink money into Perth’s postponed MAX light rail project if Greens leader Christine Milne backs the indexation of petrol taxes.
Business: A collective of farmers producing tens of millions of litres of milk a year looks set to shift allegiances from Harvey Fresh to Brownes in the latest twist in WA’s dairy wars.
Pastoralists are preparing for a legal dust-up with WA’s information commissioner as they fight to prevent the release of a report which writes off many of their leases as unviable.
Qantas is taking extreme measures to cut the weight of its planes and pack in more paying travellers as chief executive Alan Joyce works to return the carrier to profit.