Macquarie, Brookfield’s bitter taste at WA offshore well
Results from the high-risk Levitt-1 well drilled by their new Quadrant Energy venture, which took over Apache’s Australian oil and gas assets earlier this year in a $US2.1 billion ($2.8 billion) deal, showed the prospect in the Carnarvon Basin holds water instead of the targeted 220 million barrels of oil. The Fin
Abbott changes political climate
Tony Abbott has pledged to halve Australia’s per-capita emissions by 2030, with a new 26 to 28 per cent carbon pollution reduction target that puts “jobs and growth’’ first and sets the scene for a new battle on climate change politics with Bill Shorten. The Aus
Transerv tests major gasfield
In Western Australia’s onshore Perth Basin, a drill rig backed by aluminium giant Alcoa is set to start testing the nation’s biggest undeveloped onshore gasfield, hoping to prove there is enough extractable gas to rival some of the big offshore fields of the northwest. The Aus
Alcohol law reforms delayed
The introduction of long-awaited secondary supply alcohol laws has been delayed after the Liberal party room yesterday rejected the Nationals’ staged approach to reforming WA’s liquor licensing framework. The West
MUA ordered to pay over ‘scab’ posters
The Maritime Union of Australia has been ordered to pay $215,000 in penalties and compensation to workers after distributing posters that vilified employees as ‘‘scabs’’ because they refused to take part in strike action at the Fremantle Port Authority. The Fin
Forrest steps up exploration focus
Mining magnate Andrew Forrest has expanded his controversial strategy of lodging exploration applications over his Pilbara cattle stations. The Fin
China shocks with yuan cut
China has put itself on a collision course with some of its largest trading partners after the People’s Bank of China dramatically devalued the yuan yesterday, in a move that surprised global financial markets and sent the Australian dollar and Asian currencies plunging. The Aus
The Australian Financial Review
Page 1: Prime Minister Tony Abbott was on track on Tuesday night to crush attempts to grant the Liberal Party a conscience vote on gay marriage, but his handling of the matter has left his party bitterly divided and his own leadership further diminished.
Page 5: AGL Energy, which has committed to stop generating electricity from coal by 2050, called for bipartisan support for a national carbon budget designed to limit global temperature increase to within 2 degrees, the level generally agreed would avoid the worst impacts of global warming.
Page 6: Mining magnate Andrew Forrest has expanded his controversial strategy of lodging exploration applications over his Pilbara cattle stations.
Page 8: The Maritime Union of Australia has been ordered to pay $215,000 in penalties and compensation to workers after distributing posters that vilified employees as ‘‘scabs’’ because they refused to take part in strike action at the Fremantle Port Authority.
Boral chief executive Mike Kane has lobbied Senate crossbenchers to support the return of the Australian Building and Construction Commission but doubt remains over whether the Abbott government has the numbers to get the bill passed by Parliament.
Page 10: Departing Australian government weapons supremo Warren King has hailed Prime Minister Tony Abbott’s adoption of a continuous naval shipbuilding program as the most profound and important decision for the defence industry in 114 years.
Page 17: Outgoing Cochlear CEO Chris Roberts says he leaves his predecessor strong sales growth and take-up of new products to build upon, even as the hearing implant maker’s volatile developing world business acts as a thorn in its side.
Page 23: Results from the high-risk Levitt-1 well drilled by their new Quadrant Energy venture, which took over Apache’s Australian oil and gas assets earlier this year in a $US2.1 billion ($2.8 billion) deal, showed the prospect in the Carnarvon Basin holds water instead of the targeted 220 million barrels of oil.
The Australian
Page 1: Tony Abbott has pledged to halve Australia’s per-capita emissions by 2030, with a new 26 to 28 per cent carbon pollution reduction target that puts “jobs and growth’’ first and sets the scene for a new battle on climate change politics with Bill Shorten.
Page 6: Education Minister Christopher Pyne’s higher education “fixer” is struggling to gain traction among the crossbenchers, with at least two independent senators refusing to meet him.
Page 19: China has put itself on a collision course with some of its largest trading partners after the People’s Bank of China dramatically devalued the yuan yesterday, in a move that surprised global financial markets and sent the Australian dollar and Asian currencies plunging.
Mark Rowsthorn, co-founder of McAleese Transport, has called for patience from the company’s investors and customers after the listed haulage business drafted in advisory firm Moelis in the latest development in its ongoing fight for survival.
Page 20: In Western Australia’s onshore Perth Basin, a drill rig backed by aluminium giant Alcoa is set to start testing the nation’s biggest undeveloped onshore gasfield, hoping to prove there is enough extractable gas to rival some of the big offshore fields of the northwest.
Page 25: Morgan Stanley has knocked back a second request to internalise the $8.9 billion Investa Property Group, as the bank closes in on an exit from the real estate office empire it acquired at the market’s peak in 2007.
The West Australian
Page 1: Tony Abbott has flagged letting the Australian people decide whether to allow gay marriage after ambushing colleagues who had hoped to make it legal within weeks.
Page 3: The introduction of long-awaited secondary supply alcohol laws has been delayed after the Liberal party room yesterday rejected the Nationals’ staged approach to reforming WA’s liquor licensing framework.
Page 13: Western Power is likely to cut jobs as part of efforts to slash its spending by $1.4 billion over five years in a move that will ease pressure on power prices and reduce State debt.
Page 14: Tony Abbott has admitted Australia’s post-2020 emissions cuts will be a drag on the economy amid criticism from experts they will still fail to limit temperature rises to less than 2C.
Page 16: The $1.6 billion Perth Freight Link could be scrutinised in a Senate inquiry as key details about the project remain secret.
Page 21: A Cabinet subcommittee formed amid fanfare last year to develop the WA coast has become a State secret, with the Government refusing to reveal what it has achieved or when it has held meetings.
Business: The new owner of WA’s dominant wholesale fresh produce market will have to deliver a big increase in warehouse capacity at the site as a condition of doing any redevelopment work.
One of Australia’s biggest family-owned agribusinesses is set to become the No.1 shareholder in the listed company behind a $20 million deal to purchase Nor-West Seafoods.
Domino’s has set its sights on becoming the fastest option in fast food by promising to deliver pizza within 15 minutes, for a price.