Morning Headlines

BHP puts ore miners on notice

Speaking at the AusIMM iron ore conference in Perth on yesterday, BHP’s Joe Knight said current exploration methods would be unable to discover and define the quantity of new ore bodies needed to sustain the Pilbara’s soaring iron ore output. The Aus

Alinta offers lure of price cut

Gas retailer Alinta is trying to deliver a knockout blow in its price war with Wesfarmers-owned Kleenheat, offering new customers 20 per cent off their bills to sign up. The West

Rinehart says kids want unearned things from sky

Gina Rinehart has accused her children of wanting the ‘‘unearned things to keep falling from the sky’’ in the midst of intense litigation that is tearing apart Australia’s wealthiest family. The Fin

Atlas Iron to rattle the tin a little longer

Atlas Iron has pushed back the closing date for the retail component of its $180 million equity raising, citing strong demand from existing shareholders. The Fin

Morgan chases Perth tower

A Morgan Stanley-managed fund has swooped on a half-stake in Perth CBD landmark Exchange Plaza in a deal that could value the entire tower at just under $240 million. The West

Overdue royalty bill hits $3m

Pluton Resources has been threatened with the loss of its main mining tenement over $3 million in unpaid mining royalties, as the company tries to raise $75 million on European bond markets. The West

Aldi in great shape for Coles, Woolies battle

Discounter Aldi has underlined the threat it represents to the major grocery chains and independents, releasing figures showing that it makes more profit on each dollar of sales than Coles and has scope to cut prices in the event of a prolonged price war. The Fin

APRA tells banks to lift capital

The nation’s chief banking regulator, Wayne Byres, has issued a stern message to the big banks to increase capital levels while conditions are supportive, after confirming that the lenders were not among the strongest globally and must deleverage. The Aus

Telstra told to cut alert costs

The cost to taxpayers of each SMS or voice message alert sent during WA’s bushfire emergencies has been revealed to be $4.35 — costs Emergency Services Minister Joe Francis says Telstra is morally bound to subsidise. The West

The Australian Financial Review

Page 1: European leaders hammered out the terms of a bailout agreement that will subject Greece to further tough economic policies in exchange for fresh financial aid.

As the banking regulator ratchets up the pressure on the big four banks to raise billions of dollars to make them more resilient, analysts are predicting Commonwealth Bank of Australia and ANZ Banking Group will be forced to strengthen their balance sheets to avoid slipping behind rivals.

Page 2: Gina Rinehart has accused her children of wanting the ‘‘unearned things to keep falling from the sky’’ in the midst of intense litigation that is tearing apart Australia’s wealthiest family.

Page 5: Agriculture minister Barnaby Joyce says he is not a ‘‘xenophobic loony’’ for passionately opposing the Shenhua Watermark mine approval, saying the suggestion from the project’s manager Paul Jackson was ‘‘desperately disappointing’’.

Page 11: Discounter Aldi has underlined the threat it represents to the major grocery chains and independents, releasing figures showing that it makes more profit on each dollar of sales than Coles and has scope to cut prices in the event of a prolonged price war.

Page 13: Unusually high yields on offer from BHP Billiton and Rio Tinto are not tempting big investors in the miners, who still have questions over the sustainability of their progressive dividends.

Atlas Iron has pushed back the closing date for the retail component of its $180 million equity raising, citing strong demand from existing shareholders.

Page 14: The full impact of the oil price collapse on liquefied natural gas revenues is set to be exposed in quarterly reports starting this week, with Woodside Petroleum and Oil Search firmly in the firing line.

The Australian

Page 1: Carbon emissions cuts of between 15 and 25 per cent from 2005 levels by 2030 are under calculation as the Abbott government formulates its target for the Paris climate change conference.

Page 2: China’s traders are struggling after having been responsible for much of the country’s meteoric growth over the past two decades, with imports down heavily and exports achieving only the most marginal growth.

Page 4: Penetration of the federal Labor Party by trade unions is holding back industrial relations reform, a right-wing think tank says.

Page 6: Passengers with medical conditions or facing other hardships were being given priority yesterday as Jetstar resumed flights out of Bali, while Virgin brought in two aircraft from Australia but was still reviewing conditions last night.

Page 19: The nation’s chief banking regulator, Wayne Byres, has issued a stern message to the big banks to increase capital levels while conditions are supportive, after confirming that the lenders were not among the strongest globally and must deleverage.

Page 20: British gas giant BG Group has started exporting from the second of two production trains at its $US20.4 billion ($27.5bn) LNG plant on Gladstone’s Curtis Island, boding well for Santos and Origin Energy, which are set to become the nation’s latest LNG exporters in the next few months.

Page 22: Speaking at the AusIMM iron ore conference in Perth on yesterday, BHP’s Joe Knight said current exploration methods would be unable to discover and define the quantity of new ore bodies needed to sustain the Pilbara’s soaring iron ore output.

Page 29: The global gaming industry is a $US93 billion ($125bn) a year business that outperforms all other entertainment mediums but does not enjoy the tax concessions that apply to television and film production in Australia.

Page 30: A Morgan Stanley-managed fund has swooped on a half-stake in Perth CBD landmark Exchange Plaza in a deal that could value the entire tower at just under $240 million.

The West Australian

Page 1: The prospect of the State Government building its MAX tram system has taken another hit after Transport Minister Dean Nalder reported two light rail lines he investigated in Singapore were unviable.

Page 3: Gas retailer Alinta is trying to deliver a knockout blow in its price war with Wesfarmers-owned Kleenheat, offering new customers 20 per cent off their bills to sign up.

Page 6: Coalition MPs opposed to strong action on climate change will redouble their efforts to adopt less ambitious emissions reduction cuts after Tony Abbott revealed proposed targets would need party room endorsement before being made public.

Page 7: The cost to taxpayers of each SMS or voice message alert sent during WA’s bushfire emergencies has been revealed to be $4.35 — costs Emergency Services Minister Joe Francis says Telstra is morally bound to subsidise.

Business: The seven brothers behind one of WA’s biggest private companies will share nearly $121 million after agreeing to sell their Perth network of car dealerships to Japanese company Gulliver International.

Pluton Resources has been threatened with the loss of its main mining tenement over $3 million in unpaid mining royalties, as the company tries to raise $75 million on European bond markets.

Macmahon Holdings’ new chief executive is buoyed by signs of improvement in Australia’s hard-hit mining services sector.

The cattle industry is reeling after Indonesia slashed import permits for the next three months to a fraction of what had been expected.

A former State Government minister has lashed out at Colin Barnett after the Premier weighed into contract problems at Perth Children’s Hospital.