Liveringa venture beefs up quality
The beef production vision behind Gina Rinehart’s $65 million joint venture with the Milne AgriGroup is rapidly taking shape in WA’s far north and the partners remain on the hunt for more prime cattle country. The West
Rio chief says coal price slump to last
Rio Tinto’s new coal boss Jean-Sebastien Jacques, says it will likely take three or four years before there is ‘‘a light at the end of the tunnel’’ for the depressed thermal coal price, and his main priority in the new job is to try to keep each Rio mine cash flow positive in its own right. The Fin
Two chase Carna rescue deal
Founder Harry Carna and British financier Greensill Capital are trying to organise a rescue of Carna Group, the South West mining contractor which failed in March with debts of more than $70 million. The West
Budget shrinks bureaucracy
Iconic assets will be sold and government departments will be slashed in a new effort to reduce the size of the public sector and raise more than $4 billion, in contentious reforms to be revealed in tomorrow’s federal budget. The Aus
News Corp top tax risk for the ATO
The Australian Taxation Office has only one company in its highest risk category for tax avoidance – Rupert Murdoch’s News Corporation. The Fin
Netflix leaves online rivals in its wake
Leaked research data reveals how much further internet broadcaster Netflix is ahead of its subscription competitors, Stan and Presto, dominating online visits for streaming video sites. The Aus
The Australian Financial Review
Page 1: The federal government has dropped its rule that any savings in tomorrow night’s budget must be used to directly reduce the deficit, arguing that extra spending on childcare will help create jobs and grow the economy.
Page 3: The Australian Taxation Office has only one company in its highest risk category for tax avoidance – Rupert Murdoch’s News Corporation.
Telstra is set to lob huge bids for digital rights for both the AFL and NRL in exchange for greater access to exclusive online and mobile phone content to drive customer growth and enhance the in-stadium experience for fans.
Page 6: Federal Environment Minister Greg Hunt said the $2.5 billion emissions reduction fund – the centrepiece of the Abbott government’s climate change policy – would not be topped up over the next four years, despite fears it could run out of money before the next year’s federal election.
Page 13: Rio Tinto’s new coal boss Jean-Sebastien Jacques, says it will likely take three or four years before there is ‘‘a light at the end of the tunnel’’ for the depressed thermal coal price, and his main priority in the new job is to try to keep each Rio mine cash flow positive in its own right.
Cbus should appoint more independent trustees to its board to avoid a repeat of the damaging information leaking scandal that rocked the $31 billion superannuation scheme last year.
Page 15: Logistics group Toll Holdings is expected to stop trading on the Australian Securities Exchange on Thursday after an investor meeting to vote on its $6.5 billion sale to Japan Post.
Page 18: Seven Group Holdings has again increased its holding in Cooper Basin oil and gas producer Beach Energy, further fuelling speculation it is seeking to drive a consolidation between players in the central Australian oil and gas province.
Page 30: Telstra has put itself at odds with Optus over video-streaming, saying that unlike its rival it has no plans to charge Netflix and other video streaming players to ensure a smooth-running broadband service.
The Australian
Page 1: Iconic assets will be sold and government departments will be slashed in a new effort to reduce the size of the public sector and raise more than $4 billion, in contentious reforms to be revealed in tomorrow’s federal budget.
Pharmacists have been offered a $3 billion increase in commonwealth funding to dispense medicines and run programs over the next five years, despite significant drug reforms, a Medicare freeze and concerns over the health budget.
Page 2: The National Medical Stockpile will be given $34 million in new medicines and equipment as the Abbott government moves to ensure Australia is well prepared for any terrorist attack or pandemic.
Page 5: Daycare operators fear some children will miss out on preschool education despite the $3.5 billion boost to childcare subsidies in tomorrow’s budget.
Page 7: Workers will face new rules on tax deductions after the government overhauls the treatment of car expenses to save $845 million in tomorrow’s budget, risking a dispute over its effect on the car industry.
Page 17: ANZ chief executive Mike Smith made a personal undertaking to Australian Taxation Office commissioner Chris Jordan that the bank would be a model taxpaying corporate citizen, as the nation’s most geographically diverse lender distanced itself from the aggressive tax minimisation schemes used by the global technology and resources giants.
Corporate heavyweights have declared it crucial the government does not “go soft” in tomorrow’s budget, saying fiscal repair is vital to business confidence.
Page 18: The short and medium-term outlook for copper appears to be strengthening just as Rio Tinto is performing well on a project with the potential to boost this year’s copper production — the clean-up of the massive Bingham Canyon copper mine landslide in the Rocky Mountains of Utah.
Page 19: Sino Australia Oil and Gas has been placed into administration following an ongoing ASIC investigation into the Australian-listed company.
Page 22: Uber Technologies, the world’s most highly capitalised start-up, plans to raise even more funding.
Page 23: Nine Network boss David Gyngell is taking a hard line in affiliate deal negotiations with billionaire media mogul Bruce Gordon’s WIN Corporation, hitting him up with a staggering price hike of more than 50 per cent.
Leaked research data reveals how much further internet broadcaster Netflix is ahead of its subscription competitors, Stan and Presto, dominating online visits for streaming video sites.
The West Australian
Page 4: More than two in five public servants who took voluntary redundancy from the State Government last year were aged 61 or older.
Three consortiums have been short-listed to build the Perth Freight Link.
Page 5: Almost 200,000 WA households with solar panels will be spared increases to their power bills worth hundreds of dollars a year as the State Government backs away from plans to shake up electricity tariffs.
Business: Founder Harry Carna and British financier Greensill Capital are trying to organise a rescue of Carna Group, the South West mining contractor which failed in March with debts of more than $70 million.
The beef production vision behind Gina Rinehart’s $65 million joint venture with the Milne AgriGroup is rapidly taking shape in WA’s far north and the partners remain on the hunt for more prime cattle country.
The imminent retirement of Seven Group Holdings chief executive Don Voelte is not slowing the company’s march up the share register of mid-tier oil and gas players in the Cooper Basin.
