Attacks on trade deal risk relations
Rio Tinto’s iron ore boss has warned that the union-led campaign against the free-trade deal with China “feels xenophobic”, sends the wrong message to the nation’s biggest trading partner and could damage Australia’s standing on the global stage. The Aus
Citic’s $16bn iron project claim on Palmer nears resolution
Clive Palmer will learn within weeks whether he is exposed to a potential $US12 billion ($16.5bn) restitution claim from his estranged Chinese business partner. The Aus
LJ Hooker tests $300m listing as property boom pushes on
LJ Hooker, the real estate agency chain founded in 1928 by Leslie Hooker, is considering listing on the stock exchange later this year in an initial public offering that could be worth close to $300 million. The Aus
Call to cap super at $2.5m each
The head of Westpac Banking Corp’s wealth business will today call for retirees to start paying income tax on annual superannuation earnings of more than $150,000 in a push to secure changes so the system can meet the retirement and budgetary needs of an ageing Australia. The Fin
Oceana makes play for Romarco golden goose
OceanaGold has extended this year’s run of industry consolidation, launching a $900 million bid for US-focused gold mine developer Romarco Minerals. The West
Metcash in alleged stall on SupaBarn deal
Grocery wholesaler Metcash has been accused of organising a supplier campaign to oppose Coles’ $100 million acquisition of independent supermarket chain SupaBarn. The Fin
Troubled IT system for kids hospital
A computer system that is causing problems for staff and patients at Fiona Stanley Hospital will still be rolled out at the new Perth Children’s Hospital. The West
The Australian Financial Review
Page 1: The head of Westpac Banking Corp’s wealth business will today call for retirees to start paying income tax on annual superannuation earnings of more than $150,000 in a push to secure changes so the system can meet the retirement and budgetary needs of an ageing Australia.
Page 5: A belated apology by the Speaker of the House of Representatives, Bronwyn Bishop, and her pledge to repay more travel expenses has done little to quell the political brawl and left Coalition MPs facing the prospect of voting in Parliament to ensure she keeps her job.
Page 7: The former head of the World Trade Organisation Pascal Lamy predicts agreement will be reached on the Trans Pacific Partnership trade talks this weekend, but says the significance of the deal has been over-hyped.
Page 8: ASIC commissioner John Price has concerns about resources companies suddenly reinventing themselves as technology companies without adequate market disclosure.
The competition watchdog will investigate claims employers were pushed by a militant construction union into cartels that agreed to set higher prices to cover the cost of inflated wages.
Page 13: Grocery wholesaler Metcash has been accused of organising a supplier campaign to oppose Coles’ $100 million acquisition of independent supermarket chain SupaBarn.
Page 16: Qantas long-haul pilots have overwhelmingly agreed to a crucial enterprise bargaining agreement that will help clear the way for the airline to place a major order for Boeing 787-9 aircraft later this year.
Page 23: Iron ore prices lifted on Thursday morning for the third consecutive day after weeks of startling price declines to a six-year low, but analysts say the recovery will be short-lived.
The Australian
Page 1: Rio Tinto’s iron ore boss has warned that the union-led campaign against the free-trade deal with China “feels xenophobic”, sends the wrong message to the nation’s biggest trading partner and could damage Australia’s standing on the global stage.
Page 5: Mining magnate Gina Rinehart’s ambition to give away half her massive fortune is a potential “game-changer” for philanthropy in Australia, says the nation’s peak body for donors.
Page 7: The Abbott government is being urged to strip billions more from subsidies to wind farms in the final report of a Senate committee that has already pushed renewable energy investment to favour solar.
Page 8: Clive Palmer will learn within weeks whether he is exposed to a potential $US12 billion ($16.5bn) restitution claim from his estranged Chinese business partners.
Page 19: ASIC chairman Greg Medcraft has paved the way for a crackdown on lending standards at major Australian lenders and backed Chinese authorities’ efforts to stamp out stockmarket volatility.
LJ Hooker, the real estate agency chain founded in 1928 by Leslie Hooker, is considering listing on the stock exchange later this year in an initial public offering that could be worth close to $300 million.
The West Australian
Page 3: WA Labor’s dominant union United Voice has come under extraordinary attack from left wing factional allies on the east coast for torpedoing a plan to modernise party rules.
Page 12: Investigators have referred 13 cases of alleged abuse in the military to WA police but warned the cases will be difficult to prosecute, with some dating back more than 30 years.
Page 18: The strongest part of the national economy, the housing sector, is showing early signs of slowing as investors shy from sinking more cash into new apartments.
Page 22: A $5.3 million cut in State Government funding to attract conventions to Perth will cost the city’s hotels, restaurants and wider economy $85 million over the next three years, according to research.
Page 24: A computer system that is causing problems for staff and patients at Fiona Stanley Hospital will still be rolled out at the new Perth Children’s Hospital.
Business: Hopes of creating a big gas industry in the Kimberley have taken a nosedive after the State’s biggest energy user, Alcoa, quit its eight-year Canning Basin pursuit.
Craig Thompson is exploring a float or an equity partnership for his Seacorp shipping house as part of a new growth phase which will likely include its first ship purchases.
OceanaGold has extended this year’s run of industry consolidation, launching a $900 million bid for US-focused gold mine developer Romarco Minerals.
Quickflix says it has been in talks with an international party which may result in an acquisition. The Perth video streaming and DVD rental company placed its shares in a trading halt, at 0.2¢, yesterday ahead of providing an update to the market.
A new class action threatens another financial hit to Cash Converters, just a month after it reached a $23 million settlement with NSW customers who alleged they were overcharged.