11/03/2015 - 05:43

Morning Headlines

11/03/2015 - 05:43

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Morning Headlines

High hopes for AWE’s onshore WA gas field

Promising drilling results from a gas field near pipelines that supply Perth have raised hopes that the field could be supplying the energy-hungry city or large industrial users to the north within two years. The Fin

Downer to employ 400

Downer EDI plans to employ about 400 workers from rival Macmahon Holdings when the contractor starts an expanded mining services contract at Fortescue Metals Group’s Christmas Creek iron ore mine in April. The Fin

SAS land sell-off to reap $100m

Prime beachfront real estate that is home to Australia’s military elite will go under the hammer as part of an historic Federal Government sale set to reap more than $100 million. The West

Meat processor needs more lambs to slaughter

WA’s biggest meat processor has warned that it is already short of sheep and hasn’t even begun supplying lamb and mutton to China under a joint venture that includes $200 million of investment in local assets. The West

Iron ore shipments to China to fall

Chinese government and private sector analysts say demand for Australian iron ore could fall by up to 10 per cent this year, raising the prospect that production from iron ore mines in Western Australia’s Pilbara may be nearing a peak. The Fin

11,000 public service jobs slashed in 2014 as cuts gather pace

The Abbott government slashed 11,000 public sector jobs last year, the biggest annual cut to the federal bureaucracy since John Howard’s first term. The Fin

Rio, BHP defend iron expansion strategies        

The man in charge of Rio Tinto’s massive iron ore business, Andrew Harding, has told smaller rivals to ‘‘take responsibility’’ for ploughing capital into projects that are not sustainable at current prices. The Fin

 

 

The Australian Financial Review

Page 1: The Abbott government’s decision to abandon a $500 million cut to automotive assistance was designed to prevent a premature collapse of the industry, something that would have risked tens of thousands of job losses in Adelaide and Melbourne in a federal election year.

Fonterra, which is Australia’s second-largest dairy processor and the world’s largest dairy exporter, halted trade in its shares on the Australian and New Zealand bourses on Tuesday.

Bermuda-based billionaire Bruce Gordon has offered to inject between $70 million and $100 million into Ten Network Holdings and wants two seats on the embattled broadcaster’s board.

Page 5: The Abbott government slashed 11,000 public sector jobs last year, the biggest annual cut to the federal bureaucracy since John Howard’s first term.

Page 7: The main legal weapon used by the Tax Office to hunt down multinationals trying to avoid paying tax often doesn’t work, a problem that could cost the federal government billions a year.

Page 8: Chinese government and private sector analysts say demand for Australian iron ore could fall by up to 10 per cent this year, raising the prospect that production from iron ore mines in Western Australia’s Pilbara may be nearing a peak.

The man in charge of Rio Tinto’s massive iron ore business, Andrew Harding, has told smaller rivals to ‘‘take responsibility’’ for ploughing capital into projects that are not sustainable at current prices.

Page 17: Store expansion strategy defended Bunnings managing director John Gillam has dismissed concerns about the retailer’s strategy of dominating the $43 billion home improvement market and squeezing out rivals by opening new stores in a saturated market.

Promising drilling results from a gas field near pipelines that supply Perth have raised hopes that the field could be supplying the energy-hungry city or large industrial users to the north within two years.

Executives at lead Roy Hill contractor Samsung C&T are set to be hauled before the Supreme Court for public examination by the liquidators of Forge Group over about $110 million in bonds called in shortly after the contractor collapsed last year.

Page 21: Downer EDI plans to employ about 400 workers from rival Macmahon Holdings when the contractor starts an expanded mining services contract at Fortescue Metals Group’s Christmas Creek iron ore mine in April.

 

 

The Australian

Page 1: Australians who live in states with privatised electricity supplies have faced smaller price rises over the past two decades than their counterparts in other states.

Page 2: Pension reforms would be delayed to spare older Australians from unpopular changes in the next two years, under proposals aired by Liberal MPs to soften a $22.8 billion budget saving that is blocked in the Senate.

Page 3: The Australian Council for Educational Research is predicting a shortage of specialist teachers within 10 years, despite the present glut of teaching graduates.

Backing the Western Australian government’s plan to close 150 remote communities, the Prime Minister said taxpayers could not be expected to fund services in all areas, despite the connection of Aboriginal people to their land.

Page 5: Border control authorities have prosecuted only two cases of asbestos exports to Australia in seven years, despite a booming trade in products from China that are laced with the potentially killer substance.

Page 6: The powerful Australian Workers Union is demanding an immediate deal on the Renewable Energy Target, warning the livelihoods of thousands of workers depend on it.

Page 19: Banks have intensified efforts to dispel concerns the property market is motoring towards a bust that would spark shareholder losses and potentially expose the economy’s long-feared Achilles heel, arguing that the spike in prices was not unusual and borrowers could handle higher interest rates.

Page 21: Optus has signed an exclusive deal with media giant Netflix that would see the nation’s No 2 telco give new and existing customers a free six-month subscription to the highly popular streaming service with bundles of mobile or fixed-line internet packages.

The chief executive of Cochlear, one of the world’s leading biotechnology companies, says Australia needs to change the way it teaches science to encourage more of the “best and brightest” students into related fields in order to remain globally successful.

 

 

The West Australian

Page 1: Prime beachfront real estate that is home to Australia’s military elite will go under the hammer as part of an historic Federal Government sale set to reap more than $100 million.

Page 3: Luxury apartments at Elizabeth Quay will go on sale in May, with about 4000 prospective buyers already registering their interest.

Page 7: A multimillion-dollar pedestrian bridge to link Perth’s new children’s hospital and Kings Park may not be ready in time for the hospital’s planned completion.

Page 8: The Abbott Government has dumped yet another key Budget policy amid grumbling among ministers and backbenchers about a lack of consultation and confusion about the cost of the U-turn.

Page 17: A big increase in the number of primary school age children means that WA is predicted to need the equivalent of 351 extra classes each year until 2020, an education report reveals.

Business: The Supreme Court has ordered Laing O’Rourke to hand over materials for the Roy Hill iron ore project under a dispute with head contractor Samsung.

WA’s biggest meat processor has warned that it is already short of sheep and hasn’t even begun supplying lamb and mutton to China under a joint venture that includes $200 million of investment in local assets.

Forge Group co-founder Andrew Ellison has taken the helm of Resource Development Group after Jeff Brill quit as managing director.

Excitement is building within AWE and Origin Energy over the potential of its Waitsia gas discovery near Dongara after a better-than-expected flow test this week all but confirmed it as one of the State’s best resources discoveries in the past decade.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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