Silvergrass still on hold as Rio pushes the limits
Rio Tinto has again deferred a decision on construction of its billion-dollar Silvergrass iron ore mine in the Pilbara, as tumbling production costs underline the value of the company’s brownfields-first expansion strategy. The West
Paladin raising to help cut risk
Paladin Energy chief executive John Borshoff said the uranium miner’s plans to issue $US100 million ($131 million) worth of new convertible bonds would successfully eliminate ‘‘the risk of Paladin’’. The Fin
McGowan backs new city plan
Opposition Leader Mark Mc-Gowan has backed expanding the City of Perth to include the University of WA and other key assets but exclude the City of Vincent. The West
Investors win with Telstra plan
Telstra’s individual investors will be the main winners from the telco giant’s plan to reactivate a long-dormant program to help them buy more shares using dividends. The Fin
David Jones profit up 10.3 per cent under new owners
South African retailer Woolworths Holdings says its $2.1 billion acquisition of David Jones is going according to plan, with David Jones’ operating profits rising 10.3 per cent to $107 million in the five months ending December on higher sales and gross margins. The Fin
Myer rolls out womenswear big guns
The nation’s biggest department store, Myer, will seek to re-establish its authority in the billion-dollar womenswear category this year after a poor end to 2014, and the retailer believes it has the “artillery’’ it needs to draw shoppers back to its stores. The Aus
More than a million out for city's giant weekend
Perth has begun potentially its biggest weekend of entertainment, with more than a million people expected to fill the city for a smorgasbord of arts, music and sport. The West
The Australian Financial Review
Page 1: Rio Tinto will return $7.8 billion to shareholders to help fight off unwanted suitor Glencore and appease investors desperate for yield because of super-low interest rates.
Page 3: The federal government has delayed its tax white paper until after the release of its intergenerational report (IGR) as part of a new budget strategy that involves building a case for change before attempting to foist it on the electorate.
The cost of getting the car serviced is set to jump as the largest supplier of parts to mechanics, Burson Group, lifts prices by 5 to 8 per cent, and rival Repco pushes through big rises.
Page 4: The federal government is working behind the scenes to end its damaging row with the renewable energy industry by increasing the level of mandatory renewable energy it is prepared to accept.
Page 5: A jump in the unemployment rate to a 12-year high of 6.4 per cent has sharply increased chances of another Reserve Bank interest rate cut next month.
Page 11: Businesses bidding for a slice of the federal government’s $2.55 billion emissions reduction fund will be flying blind after the regulator decided to keep the benchmark price private.
Page 13: Telstra’s individual investors will be the main winners from the telco giant’s plan to reactivate a long-dormant program to help them buy more shares using dividends.
Santos chief executive David Knox has insisted the oil and gas producer has no need to raise equity despite the plunge in crude oil prices forcing a $2.4 billion asset write-down.
Page 15: Singtel-Optus chief executive Allen Lew says the company’s new and aggressive phone and internet packages should start turning around its falling subscriber base over the next three to six months despite rising competition.
South African retailer Woolworths Holdings says its $2.1 billion acquisition of David Jones is going according to plan, with David Jones’ operating profits rising 10.3 per cent to $107 million in the five months ending December on higher sales and gross margins.
Page 19: Paladin Energy chief executive John Borshoff said the uranium miner’s plans to issue $US100 million ($131 million) worth of new convertible bonds would successfully eliminate ‘‘the risk of Paladin’’.
The Australian
Page 1: Coalition budget savings, including those stalled in the Senate, have not been enough to cover the cost of new policies and have so far made no contribution to reducing the deficit over the next four years.
Page 2: A jump in the jobless rate to its highest level in almost 13 years has undermined the government’s economic message on employment. However, analysts are suggesting that it may reflect problems at the Australian Bureau of Statistics as much as a fresh weakening in the labour force.
Page 3: The first academic study of farmers’ attitudes to foreign investment in Australian agriculture has found few are opposed to it, with most noting that overseas companies are generating jobs, hiring local contractors and investing in rural communities.
Page 4: Universities will have to demonstrate that their teacher training is underpinned by research evidence and their graduates are “classroom ready” under changes unveiled by the federal government that aim to drive out ideology and educational fads.
Page 5: A syndicate of pro-business Aboriginal leaders — including prominent academic Marcia Langton and former Kimberley Land Council chief Wayne Bergmann — has lodged a bid with liquidators to buy The National Indigenous Times and to overhaul its editorial coverage.
Page 19: Telstra chief David Thodey has called for an end to the leadership ructions in Canberra, saying the business community needs certainty to plan for the next decade and grow new economic areas as the resources sector continues to wane.
Page 20: London-listed APR Energy has identified Australia as a key growth market for its temporary power stations, despite the recent cooling in the resources and oil and gas industries.
Glencore has cut spending by up to $US1.4 billion ($1.8bn) on the back of the continued weakness in its key markets.
Page 21: The nation’s biggest department store, Myer, will seek to re-establish its authority in the billion-dollar womenswear category this year after a poor end to 2014, and the retailer believes it has the “artillery’’ it needs to draw shoppers back to its stores.
Lion, the nation’s biggest brewer and a key food supplier through its branded portfolio of dairy and juice products, has blamed subdued consumer sentiment and intense price competition for sliding volumes and sales across its business in Australia.
Page 26: Mirvac Group chief executive Susan Lloyd Hurwitz has indicated that the company is unlikely to pursue expansion through the wave of merger and acquisition activity sweeping through the real estate investment trust sector, showing a preference for organic growth.
The West Australian
Page 3: Annual government spending on services for WA’s Aboriginal population has risen more than $1 billion in four years without improving dismal social and economic outcomes.
Perth has begun potentially its biggest weekend of entertainment, with more than a million people expected to fill the city for a smorgasbord of arts, music and sport.
Page 19: Opposition Leader Mark Mc-Gowan has backed expanding the City of Perth to include the University of WA and other key assets but exclude the City of Vincent.
Page 22: Teachers will have to pass a national reading, writing and maths test before they graduate from university.
Page 24: Operating theatre staff can get an unprecedented bird’s-eye view of patients having heart and lung surgery courtesy of the latest audio-visual equipment at Fiona Stanley Hospital.
Page 26: A suspected romance fraud victim has been charged over accusations he helped Nigerian criminals rip off others by allowing them to deposit stolen funds into his bank account, which he then forwarded to them.
Page 27: The State Government has allocated $4.7 million to expand a program to help local governments in bushfire-prone areas reduce their risk.
Business: Rio Tinto has again deferred a decision on construction of its billion-dollar Silvergrass iron ore mine in the Pilbara, as tumbling production costs underline the value of the company’s brownfields-first expansion strategy.
Gold Fields has joined Northern Star Resources in crowing about its decision to buy Barrick Gold’s unwanted WA assets and revealed plans for an $80 million exploration program this year.
The WA Police fraud squad has been called in to investigate the alleged theft of at least $466,000 from the coffers of cashed-up explorer Musgrave Minerals.
With its first Australian project on line in the Pilbara, the latest arrival in power generation sees a wealth of opportunity in the region, despite the resources downturn.
BP has highlighted the length of its effort to keep the Kwinana oil refinery — the only one in WA and Australia’s biggest — open after yesterday axing 160 jobs at the operation.