Banjima people in ‘control of destiny’
A Pilbara indigenous leader at the heart of one of BHP Billiton’s most significant native title agreements says the multi-generational deal over rich iron ore fields enables his people to “take control of their destiny”. The West
Iron ore giants have strategy wrong: Cliffs
With iron ore slumping to less than $US50 a tonne, revenues at the biggest miners are shrinking faster than costs, according to the head of Cliffs Natural Resources, who said the majors’ expectations that rivals will quit the market are not being fully realised. The West
Watchdog probes Asciano plan
The competition watchdog is investigating the Qube Holdings consortium’s plan to break up ports and rail group Asciano as investors consider how to vote on the takeover bid by Brookfield Infrastructure Partners. The Aus
Mineralogy threats ‘empty’
Federal MP Clive Palmer’s private interests have refused to be put off by a damning loss in the Federal Court, yesterday threatening a fresh campaign in the long-running royalties war with CITIC Pacific to try to kick the Chinese group off the $10 billion Sino Iron mine. The West
First strike for Downer
Downer EDI’s shareholders have delivered a first strike against the company’s remuneration report after a proxy adviser opposed the award of a $1.25 million retention payment to the head of its mining division, David Overall. The Fin
Shell CEO highlights WA’s Browse among LNG prospects
Royal Dutch Shell remains unequivocally bullish on prospects for liquefied natural gas despite the current market glut, pointing to several options for new supply projects after its planned $US70 billion ($97 billion) takeover of BG Group. The briefing presentations to investors in London placed the Browse floating LNG project in Western Australia firmly in the picture for a potential go-ahead next year, as targeted by operator Woodside Petroleum. The Fin
Scentre heads in right direction
Shopping centre giant Scentre Group is on track for a strong full-year profit — its first after splitting from the Frank Lowy-chaired Westfield behemoth — as buoyant specialty sales growth underpinned trading in the first three quarters. The Aus
The Australian Financial Review
Page 1: The royal commission into union corruption has found evidence that officials from one of Australia’s biggest unions, the National Union of Workers, spent hundreds of thousands on personal items, including dating services, Tiffany jewellery and a tattoo.
The federal government will pay up to $1 billion to farmers to grow more native trees on their properties or burn off savannah grass as part of the second auction from the $2.5 billion Emissions Reduction Fund which opened on Wednesday.
Page3: Competition regulator Rod Sims said laws that stop media companies merging are being super ceded by technology but popular sporting matches need to be reserved for the commercial TV networks because of the power of Foxtel.
Page 4: Prime Minister Malcolm Turnbull should take a 10-year productivity plan covering tax, education, innovation, industrial relations and infrastructure to the next election, former Liberal leader John Hewson says.
Page 5: The Turnbull government will ask states and territories to root out regulatory roadblocks to innovation at a meeting of industry ministers on Thursday.
Page 7: Former ACTU president and cabinet minister Martin Ferguson called for an easing of working-holiday visas after a government forecaster said the tourism industry would need more than 100,000 employees by the end of the decade.
Page 9: Industry Minister Christopher Pyne says arguments against storing nuclear waste are ‘‘old fashioned’’ – nine months after refusing to support a nuclear industry in his home state of South Australia.
Page 17: CSR managing director Rob Sindel said it would take interest rate rises of 2 to 3 per cent to dampen Australia’s homebuilding frenzy and there is no sign of a downturn in construction.
Downer EDI’s shareholders have delivered a first strike against the company’s remuneration report after a proxy adviser opposed the award of a $1.25 million retention payment to the head of its mining division, David Overall.
Page 19: Royal Dutch Shell remains unequivocally bullish on prospects for liquefied natural gas despite the current market glut, pointing to several options for new supply projects after its planned $US70 billion ($97 billion) takeover of BG Group. The briefing presentations to investors in London placed the Browse floating LNG project in Western Australia firmly in the picture for a potential go-ahead next year, as targeted by operator Woodside Petroleum.
Page 23: Some small shareholders are angry at how little time they were given by Treasury Wine Estates to respond to its retail entitlement offer to help pay for the $754 million acquisition of the Diageo wine business.
The Australian
Page 1: Malcolm Turnbull and Scott Morrison will today lay down markers for a tax reform plan to take to the election, using their first major economic addresses to declare the system must provide incentives rather than hold people back.
Page 4: The Coalition has failed to reverse the former Labor government’s preference for fresh government spending, with new outlays exceeding tax cuts by a margin of four to one in this year’s budget.
Deep global action to fight climate change could be an economic boon to Australian farmers, won’t stop the economy trebling in size by 2050, and agriculture and energy exports will continue to grow.
Page 7: Six of the top 10 organisations running Australian private colleges — which together received more than $620 million in government-funded student loans last year — are under regulatory scrutiny or have been accused of questionable quality or marketing practices.
Page 19: CSR chief executive Rob Sindel has declared that Australia does not need more interest rate cuts as the building materials supplier and the wider industry is revelling in a construction boom.
Catcha Group’s Patrick Grove and Luke Elliott are preparing another company for a run at the ASX boards, just days after REA Group launched a $750 million takeover bid for iProperty Group, co-founded by the Malaysian-based entrepreneurs.
Page 20: Mining contractor Macmahon Holdings has been hit with a first strike against its executive pay after being blindsided by major shareholder CIMIC at its annual general meeting yesterday.
Page 21: The competition watchdog is investigating the Qube Holdings consortium’s plan to break up ports and rail group Asciano as investors consider how to vote on the takeover bid by Brookfield Infrastructure Partners.
The softening mining boom is cutting sharply into air traffic volumes as carriers reduce flights and switch from dedicated long-haul mining routes to more lucrative commercial services on key leisure routes.
Page 23: Qantas has joined a growing number of global companies opening their arms to partnerships with new financial technology companies, linking up with small business online lender GetCapital.
Page 26: Shopping centre giant Scentre Group is on track for a strong full-year profit — its first after splitting from the Frank Lowy-chaired Westfield behemoth — as buoyant specialty sales growth underpinned trading in the first three quarters.
The West Australian
Page 1: More than half of WA families would be worse off under a GST at 15 per cent even with a deep cut in income tax, a study shows.
Page 3: Bill Shorten will personally intervene to prevent Gary Gray being torn down by militant left-wing unions.
Page 4: Extreme dry conditions in the southern Wheatbelt have caused dams in the area to dry out and forced farmers to cart truckloads of water and sell sheep at depressed prices.
Page 14: More than 150 supporters of Transport Minister Dean Nalder have applied to join the Liberal Party in the past few weeks in the new seat of Toohey as the gloves come off in his preselection battle with backbencher Matt Taylor.
Page 16: Military officials will remind the State Government to be mindful of national security concerns as it moves ahead with privatising Fremantle Port.
Business: A Pilbara indigenous leader at the heart of one of BHP Billiton’s most significant native title agreements says the multi-generational deal over rich iron ore fields enables his people to “take control of their destiny”.
With iron ore slumping to less than $US50 a tonne, revenues at the biggest miners are shrinking faster than costs, according to the head of Cliffs Natural Resources, who said the majors’ expectations that rivals will quit the market are not being fully realised.
Federal MP Clive Palmer’s private interests have refused to be put off by a damning loss in the Federal Court, yesterday threatening a fresh campaign in the long-running royalties war with CITIC Pacific to try to kick the Chinese group off the $10 billion Sino Iron mine.
