Attack heats up on BHP, Rio over iron price
WA iron ore companies have joined forces with Andrew Forrest amid claims mining giants BHP Billiton and Rio Tinto are flooding world markets in a bid to kill off smaller rivals. The West
Forrest makes surprise investment
Mining billionaire Andrew Forrest has emerged as a new investor in rival Atlas Iron, despite continuing to serve as the chairman and major shareholder in Fortescue Metals Group. The Fin
Obstacles lie in path of $55b LNG bonanza
A lack of competitiveness, unwieldy regulations and inflexible industrial relations threaten to derail a targeted $55 billion bonanza from the liquefied natural gas sector as it transitions from a $250 billion investment phase into production. The Fin
BHP Billiton fears ease ahead of South32 debut
BHP Billiton shares could re-rate by falling less than the share price of South32 when the spin-off starts trading on Monday, as investors wait to see the pricing before deciding whether to sell down or add to their stakes. The Fin
Budget’s sugar hit lifts Coalition back to 50:50
The federal government has catapulted itself back into contention to win a second term and Tony Abbott has shored up his leadership with a big spending budget that a majority of voters believe is fair, responsible and good for the nation. The Fin
Budget blow as regional land tax scrapped
A proposed new tax on regional WA to fund land acquisitions has been scrapped, ripping almost $100 million from the State Budget and fuelling claims the Government can’t stick to a fiscal plan. The West
The Australian Financial Review
Page 1: The federal government has catapulted itself back into contention to win a second term and Tony Abbott has shored up his leadership with a big spending budget that a majority of voters believe is fair, responsible and good for the nation.
The head of the corporate regulator says house prices across Sydney and Melbourne have all the hallmarks of a bubble and warned investors against borrowing to invest in the heated sector.
Page 3: A lack of competitiveness, unwieldy regulations and inflexible industrial relations threaten to derail a targeted $55 billion bonanza from the liquefied natural gas sector as it transitions from a $250 billion investment phase into production.
Page 4: Plans to slash welfare payments to families in order to fund a $4.4 billion boost to childcare stand out as one of the few unpopular measures from Tuesday’s federal budget, with almost half of voters opposed to the trade-off.
Page 5: The Abbott government has struck an $18.9 billion deal with pharmacists to dispense taxpayer-subsidised medicine for the next five years.
Page 15: Santos is driving ahead toward deals that could give it a larger slice of two multibillion-dollar liquefied natural gas projects in Asia and northern Australia, despite the tumbling oil price causing it to slow work on some other projects.
The $14 billion New York-based car parts giant Genuine Parts Co, which bought out the Repco business in Australia for almost $1 billion in 2013, says it will have a close look at the Metcash automotive division as a potential acquisition as it seeks further expansion in a rapidly consolidating sector.
Page 17: BHP Billiton shares could re-rate by falling less than the share price of South32 when the spin-off starts trading on Monday, as investors wait to see the pricing before deciding whether to sell down or add to their stakes.
UGL is in danger of copping a second strike on its remuneration report at its annual general meeting in October after the contractor’s largest shareholder, Allan Gray, said it was considering voting against the report.
Page 20: Mining billionaire Andrew Forrest has emerged as a new investor in rival Atlas Iron, despite continuing to serve as the chairman and major shareholder in Fortescue Metals Group.
The Australian
Page 1: Tony Abbott has warned that more people will die at sea unless tougher action on people smugglers is taken across Southeast Asia and North Africa, amid increasingly desperate diplomatic efforts to confront the deepening crisis in the region.
Page 4: Taxpayer savings of $5 billion-$6bn across the drug supply chain appear likely after the government reached in-principle agreement with the Pharmacy Guild on major script dispensing reforms.
The Australian has been told the government decided to drop the demand for a review every two years after research from the Clean Energy Regulator suggested more than 80 per cent of renewable energy was the subject of long-term contracts.
Page 5: Tony Abbott yesterday announced that the government would support Curtin University’s establishment of a medical school to help address the health workforce needs of Western Australia, which has fewer doctors per capita than the rest of Australia and an estimated doctor shortage of about 1000.
Page 17: BHP Billiton and ExxonMobil have lost another month of oil production at their Bass Strait oil and gas fields as strike action estimated to have cut more than $US120 million off March quarter revenue continued into April.
Rio Tinto has jumped the gun on the Abbott government’s proposed inquiry into Andrew Forrest’s claims that along with BHP Billiton, Rio has been flooding the market, forcing down prices and driving out smaller rivals.
Woolworths’ pledge this month to “contain” Aldi could implode and see it turn from hunter to the hunted, after the German discount retailer said it would investigate targeting the crucial “middle market” customers of both Woolworths and Coles through the trial of newly refurbished and formatted stores.
Page 18: Oil and gas consulting firm RISC believes a “bow wave’’ of assets holed up inside mid-tier companies is about to hit the market as the industry’s adjustment to the plunge in oil prices enters a new phase.
Page 23: Communications Minister Malcolm Turnbull says the search is on for a new ABC managing director to replace Mark Scott, ruling out his term being extended.
The West Australian
Page 1: WA iron ore companies have joined forces with Andrew Forrest amid claims mining giants BHP Billiton and Rio Tinto are flooding world markets in a bid to kill off smaller rivals.
Page 4: Former WA Health Department boss Neale Fong has hit out at the Australian Medical Association over its criticism of WA’s new medical school, rejecting claims its students will end up jobless.
Page 8: A proposed new tax on regional WA to fund land acquisitions has been scrapped, ripping almost $100 million from the State Budget and fuelling claims the Government can’t stick to a fiscal plan.
Business: When Australia’s oil and gas industry meets in Melbourne this week, it faces the toughest conditions in almost a decade.
The backdoor trend engulfing West Perth rolls on, with explorer Wild Acre Metals set to backdoor list Perth-based wearable-tech company Nuheara.
A Chinese company has its first crop in the ground two-and-a-half years after being named as the State Government referred developer of farmland on the Ord River irrigation scheme.
