Telco merger changes tune
Vocus Communications’ offer to merge with Amcom Telecommunications has switched gears and become a friendly acquisition that could create one of Australia’s biggest providers of phone, internet and technology services, with a market capitalisation of more than $1 billion. The Fin
Chimaera link in Pluton saga
The shipment of Kimberley iron ore at the centre of a dispute that sent Pluton Resources into receivership was sold to a company part-owned by Chimaera Capital, the finance house chaired by Pluton director Sal Catalano. The West
Airport flaws
An incident in which a passenger twice carried an undetected pistol in carry-on luggage on to a domestic flight has been identified as one of almost 300 major security breaches at Australian airports since 2012. The West
Hopes rise on China dairy deal
Hopes are rising that Australian dairy farmers will achieve better than expected access to the booming China market, under the soon to be completed free-trade pact with Beijing. The Fin
Strike still looms after MUA stitches up pay deal
Port Hedland tugboat operator Teekay Shipping has struck a pay deal with tugboat deckhands and skippers but still faces the prospect of its operations coming to a screeching halt as mechanics press for better conditions. The Fin
Barnett flags closing remote sites
Western Australian Premier Colin Barnett has flagged closing down many remote communities because he says the state cannot service them. The Aus
The Australian Financial Review
Page 1: Hopes are rising that Australian dairy farmers will achieve better than expected access to the booming China market, under the soon to be completed free-trade pact with Beijing.
Page 4: The sliding Aussie dollar has triggered a new wave of interest from Chinese property buyers, with the recent 9 per cent fall in the currency making Australian property up to one-fifth cheaper from currency highs.
Port Hedland tugboat operator Teekay Shipping has struck a pay deal with tugboat deckhands and skippers but still faces the prospect of its operations coming to a screeching halt as mechanics press for better conditions.
Page 5: Crumbling commodity prices, weak company profits, rising unemployment and sluggish wages growth will wipe as much as $10 billion from the budget when Treasurer Joe Hockey releases the mid-year update next month.
Page 7: Social services minister Kevin Andrews has tried to reboot discussion on stalled welfare reforms, arguing the system needed to change to avoid becoming antiquated and unsustainable.
Page 13: Vocus Communications’ offer to merge with Amcom Telecommunications has switched gears and become a friendly acquisition that could create one of Australia’s biggest providers of phone, internet and technology services, with a market capitalisation of more than $1 billion.
Yancoal boss Reinhold Schmidt is adamant that a $US2.3 billion debt-for-equity swap is not a new attempt to privatise the listed Australian coal miner by its major Chinese shareholder Yanzhou Coal.
Page 16: UGL’s management was aware last month that provisions could be booked by US joint venture partner CH2M Hill on its troubled Ichthys power project in Darwin, the engineering and property services contractor has confirmed.
Page 18: Virgin Australia Holdings plans to issue its first corporate bonds this week as it looks to diversify its sources of funding and boost liquidity now that it is a more formidable competitor to Qantas Airways.
The Australian
Page 1: Australia is quietly exporting dozens of missiles to other countries to try to recoup some of the $200 million it has wasted on them in botched military purchases.
Page 2: The budget is facing a $52 billion blowout over the next four years as a slowing economy compounds the damage caused by obstruction in the Senate.
Laws will be revised to create an “open market” for wireless spectrum as the federal government overhauls the way mobile phone companies, television networks and others use public assets worth billions of dollars.
Page 6: Sharp-shooting snipers will be deployed to Brisbane rooftops to guard the world’s most powerful leaders at this weekend’s G20 summit, with 6000 police and hardware such as sonic cannons bolstering the arsenal.
Page 8: Western Australian Premier Colin Barnett has flagged closing down many remote communities because he says the state cannot service them.
Page 19: Chinese giant Yanzhou could finally succeed in its aim to take full control of its Australian interest, Yancoal, under a $US2.3 billion ($2.65bn) debt deal that looks set to dilute the minority shareholders of the coalminer.
Page 20: Mount Gibson Iron has cut its sales guidance and warned repair works at its Koolan Island mine might take three months and cost up to $10 million.
Alan Stein, the chairman of out-of-favour oil and gas company Neon Energy, says a planned merger with fellow junior MEO Australia will provide the foundations of a cashed up junior that could make $50 million-plus acquisitions in a buyer’s market.
Page 21: The 125-year-old family owned winemaker Brown Brothers believes supplying the supermarket giants with exclusive labels could emerge as an exciting new growth platform for the sector as some shoppers drift away from private label wines to brands they recognise and trust.
Page 22: ANZ Bank boss Mike Smith is likely to emerge as the top-paid chief executive of the four major banks after pocketing $10.7 million in 2014, up from $10.4m.
The West Australian
Page 1: An incident in which a passenger twice carried an undetected pistol in carry-on luggage on to a domestic flight has been identified as one of almost 300 major security breaches at Australian airports since 2012.
Page 3: Motorists were quietly taxed an extra half a million dollars yesterday as a result of the indexation of petrol tax, but the 18-month low in fuel prices meant few would have noticed.
Page 6: Julie Bishop has headed an international charge to engage China on climate change, while signalling Australia’s long-term goals to slash greenhouse gases will be guided by the depth of cuts offered by our big trading partners.
Page 9: Murdoch University’s second most senior-ranked academic officer is under investigation, two weeks after the resignation of its vice-chancellor Richard Higgott.
Page 11: State-owned energy provider Synergy has declared there will be no risk to electricity supplies this summer despite a freak incident partially disabling one of WA’s biggest power stations.
The State Government is back hunting for a new health boss, with the Public Sector Commission confirming it has revived the search after a fruitless attempt last year.
Business: The shipment of Kimberley iron ore at the centre of a dispute that sent Pluton Resources into receivership was sold to a company part-owned by Chimaera Capital, the finance house chaired by Pluton director Sal Catalano.
GR Engineering Services has won a $10 million contract at an Indonesian copper mine for ASX-listed miner Finders Resources.
Moody’s Investor Service has maintained a negative outlook for underground mining contractor Barminco amid poor market conditions for service providers.
Orbital Corp is walking the talk by buying half of a Perth technology company, Remsafe Pty Ltd, for $5 million.
WA’s environmental regulator has knocked back a bid by a Chinese-owned miner to expand an iron ore project in the Mid West, saying it would have had “irreversible consequences”.
One of WA’s wealthiest businessmen and biggest horticultural producer has added a Tasmanian onion-growing operation to his empire.
