South32 may be a target
Tipsters who predicted South32 would start life with a target on its back could not have had a better first month since its $10 billion market debut, with the share price falling about 20 per cent and London investors trimming their stakes. The Fin
iiNet pulls out all stops to get TPG bid over line
iiNet chairman Michael Smith told Fairfax Media he was using many of the same techniques and staff employed by Amcom Telecommunications to beat TPG’s attempt to kill its $1.2 billion merger with Vocus Communications last week to get his own deal over the line. The Fin
Gold Road prepared to go solo at Gruyere
Gold Road Resources chairman Ian Murray says he is confident the company can go it alone on development of the 5.5 million-ounce Gruyere gold discovery, dismissing suggestions of a need to find a bigger partner. The West
Councils ‘can’t do everything’
WA councils may have to start telling increasingly demanding ratepayers they “can’t do everything”, the outgoing head of the State’s peak council lobby group has warned. The West
ACCC tells Telstra: cut internet prices
Millions of Australian phone and internet users will see prices fall under a draft decision by the competition regulator to slash the price Telstra can charge its wholesale customers by 9.6 per cent. The Fin
Woolworths shops around Thomas Dux
Woolworths tested a sale of its high-end supermarket chain Thomas Dux but, according to a source, pulled the plug when it realised one potential buyer was the South African retailer which owns David Jones. The Fin
Chinese deal safe, Origin declares
Origin Energy has been forced to address speculation its major Australia Pacific LNG customer, China’s Sinopec, wants to renegotiate terms of LNG contracts in the face of lower demand and prices, after Origin shares had their biggest losing week in more than six years. The Aus
The Australian Financial Review
Page 1: The freezing of Greece’s banks as it lurches towards bankruptcy, and huge losses in Chinese equities have unleashed the second-worst day for Australian stocks this year and set up an unsteady beginning to the new fiscal year for financial markets.
Page 3: An increasing number of MPs are pushing back against Treasurer Joe Hockey’s plans to introduce a 0.05 per cent levy on depositors, arguing the $2 billion it would raise in revenue over four years is not worth the political pain.
Swiss pharmaceutical giant Novartis International has agreed to pay $US200 million ($262 million) upfront and up to $US500 million in milestone payments to acquire Australian drug developer Spinifex Pharma.
Page 5: Australians and their companies and governments are still struggling to build a mindset that is open to digital change and innovation, according to the one of the nation’s top technology business chiefs.
Page 7: Emissions-intensive industries say an emissions trading scheme or tougher safeguard mechanism as part of Direct Action will be needed if Australia’s climate policy is to meet global targets.
Page 13: Sydney-based fund manager VGI Partners has warned there is "more than one cockroach in the kitchen" of Slater & Gordon, after the ASX-listed law firm revealed an accounting error and confirmed it was the subject of a regulatory probe.
Woolworths tested a sale of its high-end supermarket chain Thomas Dux but, according to a source, pulled the plug when it realised one potential buyer was the South African retailer which owns David Jones.
Australia will see its next peak in merger and acquisition activity in 2018, a year after global deals hit a similar high but a landmark report has predicted that deal activity won’t hit the ‘‘bubble-like’’ heights seen prior to the global financial crisis.
Page 15: Bathroom and kitchen fixtures supplier GWA Group has downgraded its earnings guidance a week after announcing managing director Peter Crowley would step down from the company.
Page 16: Millions of Australian phone and internet users will see prices fall under a draft decision by the competition regulator to slash the price Telstra can charge its wholesale customers by 9.6 per cent.
iiNet chairman Michael Smith told Fairfax Media he was using many of the same techniques and staff employed by Amcom Telecommunications to beat TPG’s attempt to kill its $1.2 billion merger with Vocus Communications last week to get his own deal over the line.
Page 19: Tipsters who predicted South32 would start life with a target on its back could not have had a better first month since its $10 billion market debut, with the share price falling about 20 per cent and London investors trimming their stakes.
Virgin Australia Holdings chief financial officer Sankar Narayan will exit the airline in September after more than four years with the carrier, which has a new chairman and is working to return to profitability.
The Australian
Page 3: Paul Hogan has settled a battle with his former financial advisers over $US34 million in Crocodile Dundee royalties that had been kept in a Swiss bank account.
Page 4: Rules designed to protect Bill Shorten, or any future Labor boss, from a leadership challenge have not been incorporated into the ALP’s revised national constitution.
Page 6: Thirty proposals by overseas companies to buy into Australian agricultural land are being examined by the Foreign Investment Review Board under the Coalition’s tougher foreign investment regime.
Page 19: Qatar Investment Authority’s surprise move on Lend Lease’s final $2 billion Barangaroo tower on Sydney Harbour has set a new benchmark for premium-grade property assets and demonstrated the hunger of international capital for local trophies.
Page 20: Origin Energy has been forced to address speculation its major Australia Pacific LNG customer, China’s Sinopec, wants to renegotiate terms of LNG contracts in the face of lower demand and prices, after Origin shares had their biggest losing week in more than six years.
Page 29: Taxi booking app goCatch is setting its sights on snaring corporate clients from traditional networks, with global advisory firm Ernst & Young already on board.
One in five smaller businesses in Australia has never audited their organisation’s information security procedures, according to a study.
The West Australian
Page 3: Claims emerged yesterday of subcontractors being underpaid on another State Government project built by construction giant John Holland as the Opposition stepped up its call for an inquiry.
Page 4: The retirement nest eggs of Australians have been dealt a near-$40 billion blow by markets frightened that Greece may be kicked out of the eurozone for failing to pay its bills.
Page 6: Bill Shorten has dodged questions about whether the Labor Party will adopt the coalition’s boat turn-back tactic, amid confirmation from Indonesia’s former foreign minister that the policy was continuing to strain relations with Indonesia.
Page 12: WA councils may have to start telling increasingly demanding ratepayers they “can’t do everything”, the outgoing head of the State’s peak council lobby group has warned.
Page 14: Australians are ditching family dinners and sitting around the TV for time on Skype or a short text to keep in touch with loved ones.
Business: Emeco Holdings is back to waiting for the mining cycle to return to the highs of old after abandoning a transformative $53 million deal to buy WA truck rental company Rentco.
Gold Road Resources chairman Ian Murray says he is confident the company can go it alone on development of the 5.5 million-ounce Gruyere gold discovery, dismissing suggestions of a need to find a bigger partner.
A record number of grain marketers are set to compete for market share in WA after CBH finalised its first long-term port access agreements.
