Morning Headlines

Barrick steps back from Super Pit control

Barrick Gold will take a back seat in Kalgoorlie-Boulder’s Super Pit after agreeing to streamline future decision-making, effectively handing control to joint venture partner Newmont Mining. The West

Utah Point to cut user charges

The Pilbara’s beleaguered mid-ier miners could be about to receive further cost relief, with a State Government report set to recommend slashing user charges at Port Hedland’s Utah Point terminal. The West

Brookfield break ties with chamber

Brookfield Multiplex has severed its advisory relationship with the conservative Chamber of Commerce and Industry of Western Australia after apparent union pressure. The Fin

CBA’s Narev raises tech risks

Reserve Bank of Australia governor Glenn Stevens has told the growing army of self-funded retirees that the lowest investment yields potentially in human history aren’t likely to improve any time soon. The Fin

ATO misled inquiry, Rio Tinto claims

Rio Tinto accused Tax Commissioner Chris Jordan of misleading the Senate inquiry into corporate tax avoidance in evidence about the mining giant last week. The Fin

ASCO wins Shell Prelude imprimatur

Shell has chosen oil and gas service provider ASCO Group to run the Darwin supply base for the Prelude floating LNG project. The West

The Australian Financial Review

Page 1: Reserve Bank of Australia governor Glenn Stevens has told the growing army of self-funded retirees that the lowest investment yields potentially in human history aren’t likely to improve any time soon.

The chairman of Yancoal Australia, Li Xiyong, has boasted about engineering the resignation of ‘‘bossy’’ independent director, James MacKenzie, who spoke too strongly in support of minority shareholders.

One of the nation’s strongest advocates for the promotion of women could accept higher-paid women losing out under a revamped childcare package if it brings more women overall into the workforce.

Page 3: Bianca Rinehart alleges she was bullied and put under ‘‘extreme pressure’’ by her ‘‘powerful’’ mother, Gina Rinehart, to sign a deed that reduced her entitlements, a court has heard.

Page 5: Rio Tinto accused Tax Commissioner Chris Jordan of misleading the Senate inquiry into corporate tax avoidance in evidence about the mining giant last week.

Page 9: Brookfield Multiplex has severed its advisory relationship with the conservative Chamber of Commerce and Industry of Western Australia after apparent union pressure.

Page 15: Oil and gas play Beach Energy is in early talks to convince partners to examine a possible sale of processing and pipeline infrastructure in the Cooper Basin in a move that would generate many hundreds of millions of dollars of proceeds.

Page 17: The ambitious $1.6 billion takeover offer for iiNet launched by M2 Group is a superior offer to TPG Telecom’s original proposal, say fund managers, but the battle for the Perth-based internet service provider is far from over.

As Woolworths and David Jones prepare to rejig their customer loyalty and marketing programs, a UK retail expert has warned retailers against a one-size-fits-all approach, saying programs that appeal to millennials may not resonate with their parents and grandparents.

The Australian

Page 2: The political impasse over budget measures is not yet placing Australia’s AAA credit rating in jeopardy but would do so if it continued through an economic downturn, leading credit ratings agencies have warned.

Business Council of Australia president Catherine Livingstone today will push for significant change to the “philosophical underpinnings” of health, education and retirement policy, arguing this is core to budget repair.

Page 4: Boarding schools that take large numbers of indigenous students from remote areas will receive a $5 million windfall in the federal budget, Christopher Pyne will announce tonight.

Page 5: Western Australian researchers have uncovered a process found to effectively control HIV that could lead to a cure for the deadly disease.

Page 19: Qantas has warned a decision by the competition regulator to reject its alliance with China Eastern could leave its operations marginalised and unsustainable in China to the detriment of Australian tourism and trade.

Westpac, the nation’s second biggest bank, has sent a chilling wake-up call to the millions of shareholders in the major banks, warning dividend payout ratios have peaked and would not move higher.

Virgin Australia’s decision to replace long-serving chairman Neil Chatfield with Caltex Australia chair and Westpac director Elizabeth Bryan brings to the board table a respected operator whose experience in dealing with foreign interests will be a bonus.

US storage and information company Iron Mountain last night struck an in-principle deal to acquire Australian rival Recall Holdings for $2.67 billion after sweetening an initial approach made late last year.

Page 20: Tabcorp is making its first foray into betting for the fast-growing online gaming market in a partnership with gaming and entertainment group Unikrn.

Page 21: TPG Telecom’s Pipe Networks has been cleared of allegations of misleading and deceptive conduct in a Supreme Court case brought on by the NBN to derail the telco’s rollout of its fibre-to-the-basement network.

The West Australian

Page 13: WA health boss Professor Bryant Stokes will be called to testify at the inquest into the deaths of five patients of a Fremantle psychiatric clinic.

Page 14: The well-paid residents of Cottesloe and Peppermint Grove are in danger of losing their mantle as living in WA’s richest postcode.

A leading childcare group wants only nannies with professional qualifications to attract subsidies under the Federal Government’s scheme to help mind the children of shift worker parents.

Business: Barrick Gold will take a back seat in Kalgoorlie-Boulder’s Super Pit after agreeing to streamline future decision-making, effectively handing control to joint venture partner Newmont Mining.

The Pilbara’s beleaguered mid-ier miners could be about to receive further cost relief, with a State Government report set to recommend slashing user charges at Port Hedland’s Utah Point terminal.

Mineral Resources boss Chris Ellison says he hopes indigenous employees will make up at least 10 per cent of the company’s WA workforce within the next 18 months.

Chevron has started culling its 4000-strong WA workforce as the lengthy transition from builder of mega-LNG projects to long-term operator kicks in.

Shell has chosen oil and gas service provider ASCO Group to run the Darwin supply base for the Prelude floating LNG project.

Buru Energy is hoping to fire up shareholders at its annual meeting today by demonstrating the past year was not wasted but provided the backbone for one of the biggest onshore drilling programs planned in WA.

Consumer stocks dodged the fall yesterday but the healthcare sector was hammered after US biotechs reversed sharply from record highs.