$1.4b loss caps Atlas horror
Atlas Iron has closed out a horror year by posting a $1.4 billion loss after writing down the value of its Pilbara mining operations by nearly $1.1 billion. The West
Samsung races to avoid Roy Hill penalty fees
Contractors building Gina Rinehart’s $10 billion Roy Hill project have been forced to send hundreds of workers to the Pilbara to try to avoid hefty penalty fees for delays finishing the project. The Fin
Hockey says yuan falls good news
Treasurer Joe Hockey has backed the Chinese central bank’s surprise yuan devaluation, insisting it is part of Beijing’s efforts to free up its currency and spur growth that could ultimately benefit Australia. The Fin
University fee deregulation questioned
Influential higher education consultant David Phillips has warned of ‘‘a very large moral hazard’’ in the federal government’s university deregulation package, which Education Minister Christopher Pyne is still pushing to pass in the Senate. The Fin
Telstra mobile profits could be sacrificed
Telstra chief executive Andy Penn said he will use a ‘‘win at all costs’’ strategy to maintain dominance of the mobile market, even if it hurts short-term profits. The Fin
New projects shot in arm for economy
WA could fill the void created by its slowing mining and construction sectors by building MAX light rail, an agribusiness hub south of Perth and expanding its industrial zone. The West
Beef imports sign-off starts race to China
The race is on to complete feedlots and abattoirs close to ports in China as Australian exporters prepare to begin cattle shipments within months. The West
The Australian Financial Review
Page 1: Treasurer Joe Hockey has backed the Chinese central bank’s surprise yuan devaluation, insisting it is part of Beijing’s efforts to free up its currency and spur growth that could ultimately benefit Australia.
Page 6: Australia should turn its attention to a multilateral free trade agreement which includes our largest trading partner, China, as the United States-led Trans-Pacific Partnership (TPP) trade deal falters, according to leading business figure Rod Eddington.
Page 7: Environment Minister Greg Hunt has said a business lobby’s predictions that his climate change policy will cost up to $250 billion a year are ‘‘plainly ridiculous’’ and promised to release modelling to prove it.
Page 9: Influential higher education consultant David Phillips has warned of ‘‘a very large moral hazard’’ in the federal government’s university deregulation package, which Education Minister Christopher Pyne is still pushing to pass in the Senate.
Page 10: Acknowledging the reality that almost half of the users of its popular Galaxy Note phone never use the feature that gave it its name, Samsung has split the Note family in two.
Page 13: Telstra chief executive Andy Penn said he will use a ‘‘win at all costs’’ strategy to maintain dominance of the mobile market, even if it hurts short-term profits.
Six parties, including China-backed Shenhua Group, have been in the data room for Rio Tinto’s Hunter Valley coal business, adding more competitive tension to what was expected to be a two-horse race between Glencore and Mick Davis’ X2 Resources.
Page 15: Foxtel’s moves to cut its prices and counter competition from Netflix have boosted the pay television giant’s subscriber numbers and revenue, at the expense of profit and average revenue per user.
Page 16: Contractors building Gina Rinehart’s $10 billion Roy Hill project have been forced to send hundreds of workers to the Pilbara to try to avoid hefty penalty fees for delays finishing the project.
Page 19: Coles, Woolworths and Metcash’s IGA chain are facing increased competition at both ends of the socio-economic spectrum as discounter Aldi ramps up its Australian presence and department store chain David Jones upgrades its gourmet food offer.
The Australian
Page 1: A political furore threatens to derail the royal commission into union corruption as Labor and the union movement accuse its head, former High Court judge Dyson Heydon, of being “biased and conflicted” because he agreed to speak at a Liberal Party fundraiser.
Page 3: News Corp chief executive Robert Thomson has attacked Google for piracy, zealotry and kleptocracy for its disregard of copyright and distribution of journalism created by others.
Page 5: Repayment thresholds on HECS loans need to be reduced by at least $10,000 and as much as $45,000 as worsening graduate employment and stagnant wages have resulted in a blowout in the number of students who never fully repay their loans, a higher education conference has been told.
Page 8: Bill Shorten will promise today to scrap the centrepiece of the Coalition’s direct action climate change policy, the Emissions Reduction Fund, if Labor wins the next election — a move he says will save up to $4.3 billion.
Page 21: Telstra chief executive Andy Penn says he will sacrifice margins and revenue growth if it means the telco giant can maintain its supremacy in the domestic mobile business while he looks overseas for new growth opportunities.
Page 23: Oroton boss Mark Newman believes the worst is now behind the fashion retailer after issuing a rare profit upgrade thanks to improving sales since June and a seemingly buoyant luxury goods market that has seen its limited edition The Journey handbag, which sells for $1200, emerge a bestseller.
The West Australian
Page 1: Remotely operated drones are being used to fly drugs into WA jails, prompting a review of the State Government’s prison security measures.
Page 3: WA women are losing the fight to earn the same as men, with the State’s gender pay gap worsening in defiance of the national trend.
Page 10: Open squabbling has erupted inside Federal Cabinet over the shape and form of Tony Abbott’s “people’s vote” on gay marriage.
Previously secret elements of the $1.6 billion Perth Freight Link may be made public, with the Senate to investigate the mega road project.
Page 11: The number of students studying at TAFE has plummeted by nearly 9000, figures reveal.
Page 13: WA could fill the void created by its slowing mining and construction sectors by building MAX light rail, an agribusiness hub south of Perth and expanding its industrial zone.
Page 19: Talks between Barrack Square traders and the Government over compensation for Elizabeth Quay works have broken down as the group signalled legal action against the State.
Page 26: WA’s curriculum body has been forced to restructure Year 11 and 12 language courses after the Human Rights Commission found it was discriminating against students learning Asian languages.
Business: Atlas Iron has closed out a horror year by posting a $1.4 billion loss after writing down the value of its Pilbara mining operations by nearly $1.1 billion.
A $198 million cash bid by a little-known Chinese maker of curtain walls has guzumped Pulse Health Group’s offer for the WA-backed ophthalmic care provider, Vision Eye Institute.
The race is on to complete feedlots and abattoirs close to ports in China as Australian exporters prepare to begin cattle shipments within months.