Hundreds set to go in Chevron jobs cull
Chevron is fast-tracking a radical downsizing of its Australian cost base with plans to cull hundreds of positions in Perth before the end of this year. The West
Palmer sues CITIC for $10b over iron ore project
Clive Palmer has filed a $10 billion law suit against Chinese-owned company CITIC Pacific over its $12 billion iron ore project in Western Australia. The Fin
Santos looks forward to a ‘Stag’ profit
Beleaguered oil and gas player Santos is hoping to claim a minor victory within the next few months as it targets up to $US120 million for its two-thirds slice in the Western Australian oilfield, Stag. The Aus
Cabinet split over business crackdown
Small Business Minister Bruce Billson will brush aside the concerns of corporate Australia and ask cabinet today to limit the use of market power by big business. The Fin
Aldi steps up supermarket war
German discounter Aldi will escalate the supermarket war, with plans to open as many as 80 new stores across Australia next year, its biggest store rollout in a single calendar year since first arriving in the country in 2001. The Aus
Silver lining find in mineral hunt cloud
The Australian Bureau of Statistics says the national spend on exploration fell 33 per cent year on year to just $322 million in the June quarter, led by $30 million of spending evaporating in Western Australia. The Fin
Brinsden takes back seat as Atlas rebuilds
Ken Brinsden is set to step down to a non-executive role at Atlas Iron, only 10 weeks after being replaced as managing director by Atlas founder David Flanagan. The West
The Australian Financial Review
Page 1: The chances are rising that the economy may be shrinking for the first time since the Abbott government took office two years ago after official figures showed income growth faltered again last quarter, according to two major investment banks.
Small Business Minister Bruce Billson will brush aside the concerns of corporate Australia and ask cabinet today to limit the use of market power by big business.
Page 3: Australians are increasingly reaching for their work-issued smartphones when lounging on sun beds and vacuuming the house, but not as much as workers overseas.
Page 5: Throwing Joe Hockey under a bus might not be enough to save Tony Abbott’s leadership should the Coalition lose the September 19 Canning by-election, disgruntled Liberals are warning.
Page 8: Clive Palmer has filed a $10 billion law suit against Chinese-owned company CITIC Pacific over its $12 billion iron ore project in Western Australia.
Page 15: Australia’s biggest dairy processor, Murray Goulburn, said farmers faced milk price cuts this year because of weak global dairy markets.
Page 18: The Australian Bureau of Statistics says the national spend on exploration fell 33 per cent year on year to just $322 million in the June quarter, led by $30 million of spending evaporating in Western Australia.
Page 19: Cash Converters chief Peter Cumins has welcomed the potential exit of rivals from the controversial payday lending sector, saying he is proud of his business, which has done nothing illegal.
Page 20: Telstra’s plans to enter the Philippines have been brushed off by the country’s biggest mobile carrier, Globe, which says it has seen off major competitors before.
Page 23: Australia and New Zealand Banking Group has signed on for a new five-year agreement valued at $450 million with IBM, which will provide technology to underpin its sprawling super-regional Asian strategy.
Former Telstra chief executive David Thodey says the latest $15 billion blowout on the national broadband network should its last, and that the $56 billion project cost could fall as construction continues.
The Australian
Page 2: A policy clash will test the unity of Tony Abbott and his cabinet ministers today in the wake of renewed sniping over Joe Hockey’s performance, deepening the government’s divisions in the midst of a crucial by-election.
Page 5: The head of Australia’s peak industry group in China has warned losing the China free-trade agreement because of “narrow and partisan objections” would have serious long-term implications.
Page 6: There has been no growth in middle-class welfare since the mid-1980s, with claims to the contrary overlooking the growth in middle-class tax during the Howard era.
Page 19: German discounter Aldi will escalate the supermarket war, with plans to open as many as 80 new stores across Australia next year, its biggest store rollout in a single calendar year since first arriving in the country in 2001.
Page 20: Beleaguered oil and gas player Santos is hoping to claim a minor victory within the next few months as it targets up to $US120 million for its two-thirds slice in the Western Australian oilfield, Stag.
Page 21: Vocation Limited has announced a $300 million loss for the year ending in June as it attempts to bed down a turnaround strategy following a disastrous 12 months.
Page 22: Jetstar Australia and New Zealand boss David Hall says the low-cost carrier’s regional push into the land of the long white cloud is sustainable and has rejected claims by his rival that it is a response to Air New Zealand’s move to target Australia.
The West Australian
Page 3: Australia cannot become more competitive globally while one in 11 employees spends their day on red tape, the Prime Minister’s hand-picked “deregulation tsar” Christian Porter will tell a business audience in Perth today.
Page 4: Trade unions are weighing up a legal challenge to shut down the investigation into union corruption after royal commissioner Dyson Heydon cleared himself of bias.
Page 6: Mark McGowan will not say which Metronet train line will be built first, whether lines will be built at the same time or one-by-one, or when work will start or finish on his signature public transport policy.
Page 15: The national economy is set to slow further as companies struggle to turn a profit and the housing sector shows signs it has peaked.
Business: Chevron is fast-tracking a radical downsizing of its Australian cost base with plans to cull hundreds of positions in Perth before the end of this year.
Brierty held off finalising audited results by yesterday’s reporting deadline because of a road project blowout which could carve up to $6 million off its bottom line.
Ken Brinsden is set to step down to a non-executive role at Atlas Iron, only 10 weeks after being replaced as managing director by Atlas founder David Flanagan.
TPG Telecom has taken less than a week to stamp its authority over iiNet after its $1.6 billion takeover, confirming the chief executive of the Perth-based internet provider, David Buckingham, has left the company.
