Aurizon’s expansion threatened
Aurizon chief executive Lance Hockridge has warned the outlook for the rail group’s Pilbara rail and port expansion is ‘‘challenging’’ following the slump in iron ore prices. The Fin
Homes put on pension test agenda
The federal government is canvassing the prospect of including the family home in the pension assets test as it strives to keep the retirement system sustainable over coming decades. The Fin
Marmion pledges to end doubt
Mines Minister Bill Marmion has conceded the WA Government’s drawn-out royalty review has thrown uncertainty over the mining sector, saying it should be made public as soon as possible. The West
Axe for Medicare co-payment
Expectations are growing that Tony Abbott will dump the Medicare co-payment as he moves to reset the health debate and win support for his looming families package. The Aus
Vale China deal puts Rio, BHP on notice
China has lifted a ban on giant Brazilian iron ore ships docking at its ports, a decision which could cause Rio Tinto and BHP Billiton to be displaced as the lowest-cost producers of the key steel making commodity. The Fin
Co-op smear backfires as McAlpine wins easily
A smear campaign against a sitting director appears to have backfired in elections for the board of Australia’s biggest cooperative. The West
The Australian Financial Review
Page 1: The federal government is canvassing the prospect of including the family home in the pension assets test as it strives to keep the retirement system sustainable over coming decades.
Giant Australian construction firm Leighton Holdings faces courtroom accusations it concealed a financial black-hole worth up to $4 billion from shareholders, potentially breaching continous disclosure laws.
Page 3: A nationwide slump in new apprentices and trainees looks to have bottomed out, but a buoyant residential housing market could mean builders are still short of talent.
Page 5: Australians in their late 20s and early 30s – often juggling the twin burden of buying their first home and children – could be given the option of paying off university debt using super savings.
Page 7: A union bid to give new parents more power to seek flexible work hours will tie businesses up in paperwork and could land them before the industrial umpire or in court, experts said.
Page 11: A looming defamation suit against Channel Nine over its House of Hancock mini-series could turn on whether a disclaimer that the programme was ‘‘drama not a documentary’’ did enough to persuade viewers they were watching fiction.
Page 17: Aurizon chief executive Lance Hockridge has warned the outlook for the rail group’s Pilbara rail and port expansion is ‘‘challenging’’ following the slump in iron ore prices.
Page 19: Goodman gets big tick Hedge funds are set to make a 60 per cent return on a last-minute investment in beleaguered bread and spreads maker Goodman Fielder after taking advantage of uncertainty over a $1.3 billion offer from Singapore oils trader Wilmar International and Hong Kong investment company First Pacific.
Trading volumes in Australian shares have nearly doubled to more than $7 billion this February reporting season with fund managers forced back into the market as a rebound in commodity prices and expectations of lower rates spur investor appetite for risk-taking.
Page 23: Cashed-up mining specialist private equity funds in the United States and Canada are preparing to buy into gold projects held by ASX-listed juniors starved of capital and funding.
China has lifted a ban on giant Brazilian iron ore ships docking at its ports, a decision which could cause Rio Tinto and BHP Billiton to be displaced as the lowest-cost producers of the key steel making commodity.
The Australian
Page 1: Multi-millionaire retirees are receiving federal government handouts worth about $500 million a year, sparking calls for an overhaul of Australia’s publicly funded retirement system.
Page 2: Australians are living in a “sea of blissful ignorance” about the growing online threat of foreign spies and criminals, the country’s first cyber-security co-ordinator has warned.
Page 3: A sprawling east Kimberley cattle station could be reborn as Australia’s largest aquaculture project after a company backed by Australian businessman Ian Trahar moved closer to buying the property, edging out significant interest from a foreign investor.
Page 6: Expectations are growing that Tony Abbott will dump the Medicare co-payment as he moves to reset the health debate and win support for his looming families package.
Page 19: ANZ Bank’s promotion of Mark Whelan yesterday to the role of CEO Australia has triggered a wider management reshuffle with possible implications for the bank’s succession planning when chief executive Mike Smith steps down towards the end of next year.
Australian professionals on the frontline of new resources developments are increasingly losing their jobs, with re-employment in the sector unlikely as the end of the mining boom continues to push the unemployment rate higher.
Page 20: Miner Anglo American will conduct a sales process for more than half its Australian coal production, mainly in Queensland, after a global review designed to find assets that were not making a big enough contribution.
Shares in Mirabela Nickel surged almost 200 per cent yesterday, following the announcement of cost-cutting measures that saw it slash 10 per cent of its workforce last month.
Page 28: Australia and New Zealand’s top 250 IT shops will spend about $42 billion on technology and related services in the 2015 financial year, new research shows.
The West Australian
Page 9: Prospective TAFE students have backed a State Opposition campaign against increases to TAFE fees, with some saying they had to reconsider their course or postpone their studies because of costs.
Page 12: The Federal Government has signalled a crackdown on superannuation tax concessions and age pensioners with large assets as it seeks to repair the Budget.
Business: Mines Minister Bill Marmion has conceded the WA Government’s drawn-out royalty review has thrown uncertainty over the mining sector, saying it should be made public as soon as possible.
Aurizon chief executive Lance Hockridge has admitted the Anketell port and rail project appears “challenging” at today’s iron ore price, as Moody’s Investors Services warned the multibillion dollar project could weigh on the company’s outlook.
A smear campaign against a sitting director appears to have backfired in elections for the board of Australia’s biggest cooperative.
The full extent of the financial haemorrhaging at Collie’s besieged Griffin Coal has been laid bare after the miner lost more than $3.6 million a week in the three months to December 31.
Underground mining contractor Barminco has blamed projects coming to an end on a first-half fall in earnings.