Sirius Resources capitalises on post-boom WA
Sirius Resources, one of the few mining companies scheduled to open a mine rather than close one, has found the downturn is good news: worker shortages are easing and it is easier to secure exploration rights over land. The Fin
I support Anketell: Barnett
Premier Colin Barnett says he still supports the development of a multibillion-dollar iron ore project in the West Pilbara, despite threatening to withhold support for further expansions by BHP Billiton and Rio Tinto. The West
$74b erased from market value in iron ore price crash
The plummeting iron ore price has wiped $74 billion from the value of Australia’s key iron ore mining stocks since January 2014, and analysts expect share prices to continue their decline as the price for the commodity slides. The Fin
Deficit could get bigger, Hockey hints
The federal government has signalled there is almost no chance of a significant improvement in the $104 billion of budget deficits forecast over the next four years and that the figure might even grow. The Fin
Iluka circles Irish sand miner
Iluka Resources managing director David Robb insists that mineral sands miner Kenmare is still on its radar, despite a failed $800 million takeover bid for the Dublin-based rival last year. The Aus
REIWA push for old grant system
The Real Estate Institute of WA has called on the State Government to use the May Budget to return to the old grant system of $7000 for all eligible first-homebuyers. The West
The Australian Financial Review
Page 1: The federal government has signalled there is almost no chance of a significant improvement in the $104 billion of budget deficits forecast over the next four years and that the figure might even grow.
Page 3: Foreign Minister Julie Bishop’s visit to Iran has raised concerns that Australia is moving too fast to co-operate with the Islamic regime on asylum seekers despite the still bitter debate about its nuclear policies.
Page 6: Australia’s biggest companies would be forced to hand over confidential financial information to unions during wage negotiations under changes being sought by senior union leaders at the coming Labor Party national conference.
Page 9: Sirius Resources, one of the few mining companies scheduled to open a mine rather than close one, has found the downturn is good news: worker shortages are easing and it is easier to secure exploration rights over land.
Page 15: Four of the nation’s largest industry superannuation funds have backed a venture capital fund aiming to stem the tide of jobs and revenue generated by Australian medical science breakthroughs heading offshore.
The plummeting iron ore price has wiped $74 billion from the value of Australia’s key iron ore mining stocks since January 2014, and analysts expect share prices to continue their decline as the price for the commodity slides.
Page 17: Leighton Holdings is expected to formally change its name to CIMIC Group at its annual meeting this week as the construction group prepares to shake off a brand tarnished by corruption allegations.
The Australian
Page 1: Weak wages growth and poor company profits are undermining the government’s budget plans, with a key economic forecaster warning that the downturn in China could yet push Australia into recession.
Page 4: Negotiations on the Trans-Pacific Partnership trade deal have a window of about six to eight weeks to be concluded or they risk being bogged down in US politics, Trade Minister Andrew Robb believes.
Page 5: The powerful Pharmacy Guild of Australia has amassed a multimillion-dollar war chest in a bid to head off threats to its control over the supply of medicines — a system that has cost taxpayers $15.6 billion over the past five years.
Page 19: Australia’s beleaguered resources industry is growing increasingly doubtful about if and when the $US60 billion ($77.7bn) pool of private equity money earmarked for the sector will arrive, with private equity players themselves warning executives not to expect outright takeovers.
The single biggest supplier to the nation’s $90 billion grocery market, beer and dairy giant Lion, has warned it won’t swallow lower prices as part of any renewed price war between Woolworths and Coles unless it can be guaranteed greater shelf space for its brands and a lift in sales at the check-out.
Page 21: Iluka Resources managing director David Robb insists that mineral sands miner Kenmare is still on its radar, despite a failed $800 million takeover bid for the Dublin-based rival last year.
Page 22: Commonwealth Bank is cranking up its ambitious plan to digitally disrupt the region’s retail banking markets, with chief executive Ian Narev briefing regulators in India on CBA’s recently acquired technology that enables customers to open a bank account using an analog mobile phone.
Page 26: Regional television news services and local programming are on the brink of significant budget cuts, broadcasters have warned Tony Abbott.
The West Australian
Page 1: WA’s archaic “spud cop” faces the chop, with Colin Barnett declaring the Potato Marketing Corporation will be abolished within two years.
Page 3: Tourism bodies have warned there could be a hotel room glut in Perth if the State Government does not promote the city to fill 1850 new rooms in the pipeline.
Page 5: The fight against cancer will be bolstered today with the approval of a drug that is twice as effective as other immune-based melanoma drugs, but it could take years before it becomes affordable.
Page 9: WA’s economy faces its toughest period in more than a decade, with growing fears there are no new major projects to prop up the State.
Doctors will get an extra $6 to immunise children who are overdue for shots, in a bid to lift vaccination rates.
Page 11: The Real Estate Institute of WA has called on the State Government to use the May Budget to return to the old grant system of $7000 for all eligible first-homebuyers.
Page 14: Sir Charles Gairdner Hospital has been forced to cancel dozens of magnetic resonance imaging scans because of a shortage of radiographers.
Business: Premier Colin Barnett says he still supports the development of a multibillion-dollar iron ore project in the West Pilbara, despite threatening to withhold support for further expansions by BHP Billiton and Rio Tinto.
TFS Corporation has added the services of local Formula One star Daniel Ricciardo to its marketing budget, signing on the F1 rising star as a “global ambassador” for its Indian sandalwood products.
Chevron has made the most of the fallout of cyclone Olwyn to cut short a long-standing drill rig charter contract with Atwood Oceanics, likely to save the US oil and giant at least $US100 million ($129 million).
Tap Oil has stepped up its criticism of its biggest shareholder, questioning whether Thai tycoon Chatchai Yenbamroong retains the support of nominee directors backing his bid to win control of the company.
