Senior Fortescue executives shown the door as cost cuts roll on
Fortescue Metals Group is losing several senior executives as it continues to shed costs amid sluggish iron ore prices. The Fin
From balls to beef — ‘patient’ Ma grows WA assets
A Chinese ball bearing magnate has snapped up vast tracts of prime cattle country in the Pilbara as he continues his love affair with WA agriculture. The West
Carnarvon set to cash in on Thai oil success
Carnarvon Petroleum, which soared to fame four months ago as part of a consortium that celebrated the biggest oil discovery in Australia in 30 years, is set to quit its long-held Thai ambitions. The West
Hockey warns living standards could fall
Treasurer Joe Hockey warned Australians they face falling living standards without tough reform after official figures showed the economy suffered its worst income shock since the financial crisis five years ago. The Fin
Morrison’s sweetener for visa deal
The Abbott government will boost the refugee intake by 7500 in a bid to secure a deal with Senate crossbenchers to resurrect temporary protection visas. The Fin
Bishop gets Abbott ‘minder’
Tony Abbott’s management of his senior ministers is under scrutiny amid claims his office ordered Julie Bishop to be “chaperoned” to a politically sensitive climate change meeting in South America next week. The West
New Pyne Bill adds to Budget woe
More than $3.5 billion will be added to the Budget deficit in the Abbott Government’s desperation to do a deal on higher education reform. The West
The Australian Financial Review
Page 1: Treasurer Joe Hockey warned Australians they face falling living standards without tough reform after official figures showed the economy suffered its worst income shock since the financial crisis five years ago.
Page 4: Concessions offered by the government in a bid to have the Senate pass its higher education changes would cost $3.5 billion from the almost $4 billion in savings the cuts were budgeted to save over the next three years.
Page 8: Outgoing Treasury Secretary Martin Parkinson has issued an urgent call for corporate and personal tax cuts, warning that our tax system is stuck in the 1950s and that Australians’ standard of living will collapse without reform.
Page 12: The Abbott government will boost the refugee intake by 7500 in a bid to secure a deal with Senate crossbenchers to resurrect temporary protection visas.
Page 13: The rise in spending by international tourists shows no signs of letting up, with visitor spending up 9 per cent to $30.7 billion in the 12 months ended September 30.
Page 17: The managing director of Woolworths Liquor Group, Brad Banducci, says Summergate, the large alcohol distributor in China acquired by the company for $US25 million ($29.4 million), was able to increase sales in the past three months despite a tough market.
The global head of commodities at the world’s biggest trade bank has rejected the growing pessimism around the future competitiveness of Australia’s liquefied natural gas, insisting the country has a “tremendous” advantage in competing against the United States and others.
TPG Telecom’s fibre-to-the-basement (FTTB), seen by many as a threat to NBN Co, is progressing but at a slow rate, chief executive David Teoh says.
Page 19: Fortescue Metals Group is losing several senior executives as it continues to shed costs amid sluggish iron ore prices.
Page 23: Fast food chain Pie Face is in talks with Woolworths to sell its smiley-face pies from the freezer aisle in an attempt to boost sales, reduce production costs and avoid receivership.
The Australian
Page 1: Economic growth has slumped and incomes have fallen for the second quarter in a row, casting a shadow over the outlook for the coming year and prompting Joe Hockey to rule out new spending cuts in his next budget.
Page 2: A contractor on Gina Rinehart’s Roy Hill project has been found to have unfairly sacked two employees, known as “The Chemical Brothers”, who allegedly bullied a co-worker into using a company credit card to buy the drug ice.
Energy-intensive businesses employing a total of 65,000 people are pressing Tony Abbott and Bill Shorten to reach a deal on the renewable energy target, warning the current impasse risks jobs and investment.
Page 4: Foreign Minister Julie Bishop signalled the government’s line of attack on new savings, declaring she would hold Labor leaders responsible for any foreign aid cuts because the opposition was blocking other savings.
Page 6: Western Australian Premier Colin Barnett has ordered his own department to research ways to reduce Aboriginal deaths in custody and bring lower incarceration rates among the state’s indigenous population.
Page 19: Money markets have all but priced in the prospect of another interest rate cut by the Reserve Bank after official figures showed the economy almost stalled during the September quarter.
Page 20: Australia is importing IT specialists as it positions itself to become an innovation centre for the region, with jobs falling away in the manufacturing and resources sectors.
Page 21: Woolworths has got the jump on archrival Coles over which supermarket giant will be first to launch into China, although its push into the Middle Kingdom with the acquisition of a liquor distribution business is not so much a great leap forward as a slight creep ahead.
Page 22: Workers at iron ore miner Fortescue Metals Group are bracing for job cuts after several senior executives left the company this week.
The nightmare run for Atlas Iron has continued, with ratings agency Moody’s Investors Service downgrading its outlook on the company to negative.
Page 27: Listed fund manager Charter Hall Group has tapped institutional investors for an additional $235 million to fund an expansion of its Bunnings partnerships.
The West Australian
Page 3: Tony Abbott’s management of his senior ministers is under scrutiny amid claims his office ordered Julie Bishop to be “chaperoned” to a politically sensitive climate change meeting in South America next week.
Page 10: Colin Barnett says he did not know until yesterday morning that besieged Minister Dean Nalder last year made a property investment with an associate now enmeshed in a global financial scandal.
Page 11: WA’s peak medical group has called an emergency meeting of psychiatrists to discuss concerns about a lack of resources to deal with mental health problems.
Page 18: Toyota will axe 2600 workers across Australia as figures show sharp falls in commodity prices are cutting national income and hurting the economy.
Page 20: More than $3.5 billion will be added to the Budget deficit in the Abbott Government’s desperation to do a deal on higher education reform.
Page 26: WA risks missing out on an unprecedented economic chance if it fails to capitalise on the boom in outbound Chinese tourist numbers, an international expert on tourism says.
It is not just mining companies that need fly-in, fly-out workers — the Education Department is looking for teachers willing to fly to remote parts of WA for short stints in rural schools.
Business: Hundreds of workers’ livelihoods were under a cloud last night after the contractor that runs a South West coal mine terminated its contract with the Indian-owned operation.
A Chinese ball bearing magnate has snapped up vast tracts of prime cattle country in the Pilbara as he continues his love affair with WA agriculture.
Ten Network is at last closing in on a resolution to the uncertainty which has dogged the group for the past two years.
Down, down, prices are down but iron ore shipments out of Port Hedland keep on rising.
Carnarvon Petroleum, which soared to fame four months ago as part of a consortium that celebrated the biggest oil discovery in Australia in 30 years, is set to quit its long-held Thai ambitions.