Mine closures forecast as iron ore prices plunge
Fund managers have questioned whether Australia’s second and third-tier iron miners can sustain the massive cost cuts made in the past 12 months, as iron ore’s latest plunge below $US50 ($67.60) a tonne raises questions about who will survive. The Fin
Billions needed to fix congestion
Billions of dollars will have to be invested in Perth roads, railways, ports and airports to deal with congestion across the city that is growing at the fastest rate in the country.
Price strikes first cargoes
Chevron’s $US54 billion Gorgon project may be forced to dump chunks of its early LNG output onto an already saturated global spot market as some Japanese clients warn they are unlikely to take up test shipments. The West
State-funded private eyes a shock for Uber
Controversial ride-sharing service Uber says it is “shocked” by a Western Australian government move to employ private investigators to spy on operators suspected of breaching regulations. The Aus
Enabling super and raising age a juggling act
New research from the Productivity Commission highlights the need for the government to raise the age at which Australians can start accessing their superannuation savings, while exposing the dilemma of how to make it possible for older employees to stay in the workforce longer, superannuation industry experts have said. The Fin
Woolies trails Coles on price
Despite launching a $500 million price slashing strategy in May, new figures suggest Woolworths’ grocery prices were still flat in the June quarter at the same time as Coles got cheaper for shoppers. The Fin
The Australian Financial Review
Page 1: Emergency measures by China’s central bank to support the crumbling stockmarket failed to halt another big slide, even as 73 per cent of mainland stocks were suspended from trading in a desperate bid to avert panic selling.
Opposition Leader Bill Shorten was forced to deny he used his position as a prominent union leader for personal advantage after admitting he failed to declare up to $63,777 in payments from a labour hire company that covered the wages of former campaign director.
Page 3: ASIC chair Greg Medcraft told the banks to co-operate with the corporate watchdog or confront a $50 million war chest he has built up to fight the largest banks, whose actions threaten trust and confidence in the financial system.
Qantas will focus on matching its lounge and premium cabin food offerings with the right cocktail, spirit or champagne as well as wine now that a new team of beverage experts from Neil Perry’s Rockpool Restaurant Group is taking charge of the selection process.
Page 4: The states should take responsibility for early childhood and school education and hand higher education and vocational training to the federal government, South Australian Premier Jay Weatherill says.
Page 12: Gender inequality is still rife in Australian businesses, with men earning more than women in 411 out of 433 occupations in Australia, according to a new study by start-up incubator Blackwattle Co.
Page 15: New research from the Productivity Commission highlights the need for the government to raise the age at which Australians can start accessing their superannuation savings, while exposing the dilemma of how to make it possible for older employees to stay in the workforce longer, superannuation industry experts have said.
Page 21: Fund managers have questioned whether Australia’s second and third-tier iron miners can sustain the massive cost cuts made in the past 12 months, as iron ore’s latest plunge below $US50 ($67.60) a tonne raises questions about who will survive.
Despite launching a $500 million price slashing strategy in May, new figures suggest Woolworths’ grocery prices were still flat in the June quarter at the same time as Coles got cheaper for shoppers.
Page 23: Santos is close to finalising a deal with energy giant ExxonMobil to acquire a stake in the P’nyang gas field in Papua New Guinea, as the joint venture partners eye a lucrative expansion of the $US19 billion ($25.7 billion) PNG LNG venture.
The Australian
Page 1: Foreign Minister Julie Bishop has rebuked Malcolm Turnbull for playing down the national security threat posed by Islamic State, warning that the dangers of the terrorist group must be taken with the upmost gravity.
Page 3: One of Australia’s leading business figures and advocates for women in leadership roles has warned against a push to introduce quotas for female representation on government boards, labelling it a “tick-the-box” approach to diversity.
Controversial ride-sharing service Uber says it is “shocked” by a Western Australian government move to employ private investigators to spy on operators suspected of breaching regulations.
Page 5: Adopting a radical proposal for a fee-based system could make it harder to attract skilled migrants to lower-paid occupations including in disability and aged-care, the Department of Social Services cautions.
Page 19: Australian officials are bracing for a further slump in commodity prices as China’s sharemarket continues to dive despite extraordinary measures to support the market, and Greece moves closer to the brink of exclusion from the eurozone after rejecting austerity in a weekend referendum.
BHP Billiton’s newly promoted chief commercial officer, Dean Dalla Valle, has told a Washington, DC audience that the private sector needs to play a part in this year’s Paris climate talks.
Page 20: Iron Mountain, the US storage and information management services group that is poised to acquire its Australian rival Recall Holdings, has successfully refinanced a $US1.5 billion ($2.03bn) credit facility but its share price remains under pressure after it last month sweetened the terms of its offer.
Page 25: Royal Dutch Shell is days away from drilling in the Arctic Ocean — betting it can find enough oil to justify the huge risks that keep almost every other competitor out of those icy waters.
The West Australian
Page 3: Three out of every four houses in Perth and the South West grid could have solar panels within 20 years, according to official figures showing popularity of the technology gathering pace.
Page 4: Nestled in the back streets of Fremantle, concealed by bushes lining the busy Leach Highway, is the State Government’s very own slum.
WA’s record debt burden came under more pressure last night after the price of the State’s most important commodity — iron ore — crashed 10 per cent and ended below Treasury’s already pessimistic predictions.
Page 6: Historic buildings on St Georges Terrace will be transformed into a colourful wonderland when the Winter Lights festival returns to Brookfield Place tonight.
Billions of dollars will have to be invested in Perth roads, railways, ports and airports to deal with congestion across the city that is growing at the fastest rate in the country.
Page 12: WA is shedding its “too expensive” tag as a holiday destination, with figures showing an influx of almost a million extra visitors in the past year.
Business: Buoyed by the discovery of high-grade copper at its Springfield project north of Meekatharra, Talisman Mining is set to rattle the tin to top up its cash coffers.
Chevron’s $US54 billion Gorgon project may be forced to dump chunks of its early LNG output onto an already saturated global spot market as some Japanese clients warn they are unlikely to take up test shipments.
Overseas investors have entered the final stages of negotiations to secure two of WA’s most high profile farming operations.
Ramelius Resources has begun mining at Kathleen Valley, one of two new assets in the Leinster area that the company hopes will boost group production to more than 100,000 ounces a year.
Phoenix Gold has revealed it has engaged a “number of parties” as the Kalgoorlie-Boulder-based company continues to resist Zijin Mining Group’s $47 million takeover offer.
