15/04/2015 - 05:34

Morning Headlines

15/04/2015 - 05:34

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Morning Headlines

PM’s peace plan for GST battle

Western Australia would gain almost $500 million next financial year under a plan under consideration by Tony Abbott as a way of breaking the political impasse with the state over the GST carve-up. The Aus

Chevron celebrates turbine start-up

Amid the doom and gloom hanging over the Pilbara resources sector, Chevron yesterday found time for a much-needed celebration after starting up the first of five gas turbines that will drive its $US54 billion ($71.2 billion) Gorgon LNG project on Barrow Island. The West

Slumping price threatens line

Threat from falling iron ore price Aurizon’s plans to build a new 430-kilometre rail line to Anketell Point in the Pilbara to export iron ore appear increasingly shaky, as tumbling prices raise questions over the rail group’s existing iron ore haulage contracts. The Fin

WA acts to stop advance alerts

Western Australia’s Department of Mines and Petroleum (DMP) will upgrade its systems this week in response to the use of sophisticated software that allows a company to find out that a potentially valuable piece of mineral tenure is vacant even before the department is aware of it. The Fin

PM to calm iron ore budget fear

Prime Minister Tony Abbott will try to calm fears of a deteriorating budget by promising declining deficits and to limit the size of the centrepiece child care package until savings are found to expand the program. The Fin

Gage Roads investigates exports as local beer market goes flat

Perth-based craft brewer Gage Roads is eyeing export opportunities and contract brewing deals with overseas brewers to counter a slump in sales and volumes from major customers including Woolworths. The Fin

 

 

The Australian Financial Review

Page 1: Prime Minister Tony Abbott will try to calm fears of a deteriorating budget by promising declining deficits and to limit the size of the centrepiece child care package until savings are found to expand the program.

Page 2: Western Australia’s Department of Mines and Petroleum (DMP) will upgrade its systems this week in response to the use of sophisticated software that allows a company to find out that a potentially valuable piece of mineral tenure is vacant even before the department is aware of it.

Page 5: One of the national broadband network’s biggest suppliers, Alcatel-Lucent, could soon be taken over by Finnish rival Nokia Oyj after both companies confirmed advanced merger discussions.

The mining union has been fined $45,000 for sacking a Pilbara organiser after former Australian Workers Union leader Paul Howes complained he was a ‘‘Trot’’ who was criticising the union.

Page 6: Treasurer Joe Hockey has raised no objection to the states reintroducing antiquated and inefficient taxes as an alternative to increasing the rate or extending the base of the GST.

Page 15: Michael Cameron has ruled out acquisitions and promised shareholders he will stick to insurer Suncorp Group's current organic growth strategy when he takes over in October.

Fortescue Metals Group could slash more than 700 jobs across the Pilbara as it abandons boom-time rosters in its latest bid to cut costs amid soft iron ore prices.

Page 17: Threat from falling iron ore price Aurizon’s plans to build a new 430-kilometre rail line to Anketell Point in the Pilbara to export iron ore appear increasingly shaky, as tumbling prices raise questions over the rail group’s existing iron ore haulage contracts.

Page 21: Tap Oil says statutory demand for $US14.6 million ($19 million) from Thai entrepreneur Chatchai Yenbamroong does not have a legal basis, as the fight between the junior explorer and its major shareholder heats up.

Perth-based craft brewer Gage Roads is eyeing export opportunities and contract brewing deals with overseas brewers to counter a slump in sales and volumes from major customers including Woolworths.

 

 

The Australian

Page 1: Western Australia would gain almost $500 million next financial year under a plan under consideration by Tony Abbott as a way of breaking the political impasse with the state over the GST carve-up.

Page 2: A court has heard a senior executive of beverage giant Cola-Cola Amatil, who was arrested over allegedly receiving $504,900 of bribes from Orix Australia, should be subject to strict bail conditions and will likely face jail if convicted.

Page 6: India has the potential to be our next massive market for multibillion-dollar sales of liquefied natural gas and iron ore but Australia is “not on the radar” of the emerging giant, says West Australian Premier Colin Barnett.

Page 8: Recent research shows 91 per cent recognition of the True Aussie branding by consumers who had bought Australian beef and lamb in the past year, and an 8 per cent jump in the value of Australian beef sales.

Page 19: Paper, packaging and recycling billionaire Anthony Pratt says the collapse in mineral commodity prices will further fuel the transition of the Australian economy from the “mining boom to the dining boom’’ as the value of food exports rapidly closes in on those from iron ore.

UBS is now predicting that flat Chinese steel production will lead to a “super down cycle” as iron ore supply keeps coming, while Standard & Poor’s is threatening to cut the credit ratings of even bluechip miners BHP Billiton and Rio Tinto.

Page 21: Telstra’s unfettered grab for market share in the ultra-competitive mobile market could be petering out as the nation’s top telcos increasingly shift their focus to profitable growth and margin expansion, according to analysts.

 

 

The West Australian

Page 3: Six local councils will roll out colour-coded bins and two more have adopted a three-bin system as the State Government works towards its target of diverting 50 per cent of municipal waste from landfill this year.

Page 4: Tony Abbott has washed his hands of responsibility for fixing the GST distribution — and put himself at odds with his Treasurer and Finance Minister who favour Federal intervention.

Page 10: The Barnett Government has been put on notice the State’s credit rating will be cut unless it finds the “political will” to get the Budget back in order and make tough financial decisions.

Page 11: Zhivago’s Lydia Tsvetnenko and Lara Kovacevich unveiled their Egyptian-inspired collection, Eye of Horus, on models donning Cleopatra-style black wigs.

Greyhound racing in WA will be radically restructured, with the Government-appointed board that controls the code to be abolished and more than one-third of permanent staff made redundant.

Page 17: A City of Perth councillor is facing a $3300 bill for using council resources to do a letter drop to more than 3000 residents.

Page 24: The WA Health Department has created six assistant director-general of health positions as part of a major shake-up aimed at making its operations less unwieldy.

Business: Amid the doom and gloom hanging over the Pilbara resources sector, Chevron yesterday found time for a much-needed celebration after starting up the first of five gas turbines that will drive its $US54 billion ($71.2 billion) Gorgon LNG project on Barrow Island.

The chief executive of heavy engineering firm Civmec says the potential purchase of a fabrication yard in Indonesia is targeted at overseas projects rather than sourcing cheaper labour for Australian contracts.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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