Unions gear for WA power fight
Unions in Western Australia have warned that they will unleash a major campaign in the lead-up to next year’s state election if the Barnett government proceeds with plans to sell the state’s electricity poles and wires network for up to $15 billion. The Aus
Miner in sky-high pitch for funding
Mining outfit Alkane Resources is in talks with some of the world’s largest aerospace companies to help finance a $1 billion production facility to extract a rare earth material that could greatly improve the heat resistance of jet engines. The Aus
Higher uni fees loom for students
Students should expect to be hit with significantly higher university fees under the federal government’s higher education platform heading into the election. The Aus
PM ‘won’t blow’ iron ore bonus
Every dollar from a rebound in the iron ore price will be used to reduce the deficit, not spent on election bribes or boosting what are now looking to be meagre tax cuts. The Fin
Labor offers $14b to universities
Labor says its higher education plans will cost $13.8 billion over 10 years, while the Coalition’s policies will cut the spend by $12 billion over the same period, as the political debate over higher education heats up once more ahead of a looming federal election. The Fin
Iron Mountain plans to offload local business
Document storage giant Iron Mountain has proposed selling the bulk of its Australian business to get its takeover of ASX-listed rival Recall past the competition regulator. The Fin
The Australian financial Review
Page 1: Every dollar from a rebound in the iron ore price will be used to reduce the deficit, not spent on election bribes or boosting what are now looking to be meagre tax cuts.
Page 3: Former ABN Amro Australia chief executive Angus James will only be entitled to a $400,000 severance payout and miss out on an extra $2.5 million after he walked away from a deal in the hope of being appointed the CEO of the restructured organisation.
Page 4: Labor says its higher education plans will cost $13.8 billion over 10 years, while the Coalition’s policies will cut the spend by $12 billion over the same period, as the political debate over higher education heats up once more ahead of a looming federal election.
Page 6: The top official for vetting foreign investment was so concerned the Port of Darwin would be leased to a Chinese company he asked three times for the Department of Defence and intelligence agencies to consider the national security implications ‘‘at the highest possible level’’.
Page 7: A $20,000 limit on low-tax contributions to superannuation being considered by the federal government would mostly hit richer men and raise $1.5 billion a year.
Page 10: Administrators sacked by Clive Palmer from running his Townsville nickel refinery, have told the remaining 550 workers they will no longer have a job after Friday because the federal MP has not signed them up to new contracts.
Page 13: The chief executive of online retailer SurfStitch, Justin Cameron, resigned suddenly by email and said he was ‘‘deeply coinflicted’’. The company later found out he was working on a bid for SurfStitch with private equity backers.
Page 15: Document storage giant Iron Mountain has proposed selling the bulk of its Australian business to get its takeover of ASX-listed rival Recall past the competition regulator.
Page 16: The corporate watchdog’s pursuit of ANZ Banking Group over potential interest rate rigging weakens the bank’s creditworthiness because of the damage to its reputation and the threat of class actions, says Moody’s.
Page 18: Coles has promised to spend $22 million upgrading five supermarkets it is buying from one of Australia’s largest independent grocery retailers, the Supabarn Group.
Page 23: Qantas Airways has a strong enough balance sheet to withstand a more than doubling in the price of jet fuel without losing its investment-grade credit rating, says Moody’s.
Page 24: The wild ride for rare earths stocks may not be over, with a well-known expert on rare earths warning it may not be until the end of the year before prices rise – signalling concerns over the outlook for troubled rare earths producer Lynas Corp.
The Australian
Page 1: Students should expect to be hit with significantly higher university fees under the federal government’s higher education platform heading into the election.
Page 5: Champagne sales in Australia rose 24.31 per cent last year as we bought an extra 1.59 million bottles on 2014, setting two records in the process: not only was it the biggest sales increase in our history, but the sales surge dwarfed increases among the top 20 champagne-importing markets.
Page 6: Unions in Western Australia have warned that they will unleash a major campaign in the lead-up to next year’s state election if the Barnett government proceeds with plans to sell the state’s electricity poles and wires network for up to $15 billion.
Page 7: St John of God, a not-for-profit health organisation, will introduce a co-payment of up to $50 for pathology services, warning that bulk billing had become “unsustainable” under the government’s funding model.
Page 19: Pressure is mounting on the Reserve Bank to cut interest rates as the dollar keeps rising as a consequence of global currency wars, threatening to squeeze exports.
Page 21: The founder of streaming service iflix said a $US45 million ($60m) investment by pan-European pay-TV giant Sky will provide benefits beyond funds by providing invaluable industry expertise as Netflix’s global buying power expands.
Page 29: Mining outfit Alkane Resources is in talks with some of the world’s largest aerospace companies to help finance a $1 billion production facility to extract a rare earth material that could greatly improve the heat resistance of jet engines.
The West Australian
Page 7: Colin Barnett says many students doing vocational training at WA high schools could be better off dropping out to go to TAFE or get a job.
Business: New Zealand’s central bank has unexpectedly cut interest rates to a fresh record low and said further easing may be needed, joining global counterparts in adding stimulus to an economy struggling to generate inflation.
Hundreds of workers at Clive Palmer’s embattled Yabulu refinery have been sacked and don’t know if they will be rehired.
Australian Mines has launched a reverse circulation drilling program at its Dixon gold prospect, about 50km from Northern Star Resources’ Plutonic mine in the Murchison.
