27/05/2016 - 06:30

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27/05/2016 - 06:30

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Lithium duo in $700m merger

The lithium boom is set to enter a new phase with expectations the joint owners of the Mt Cattlin spodumene mine near Ravensthorpe are finalising a $700 million merger. The West

BHP tunes up Olympic Dam but timing slightly off

BHP Billiton will take another three years before deciding if heap leaching technology will ultimately allow a big expansion of the Olympic Dam copper and uranium mine, as it first pursues a more sedate underground mining push into the large, untouched part of the ore body originally earmarked for a massive $30 billion open pit. The Fin

WA Premier rules out internal leadership battle

Unpopular Western Australian Premier Colin Barnett has ruled out a nasty leadership battle if the Liberal Party decides it has a better chance of winning a third term without the 65-yearold at the helm. The Fin

High card charges to attract penalties

Airlines, restaurants and corner stores will face hefty penalties if they slug their customers with excessive debit and credit card surcharges, after the competition watchdog and the Reserve Bank cracked down on “rip-off” merchants. The Aus

Women hit a rich-list record

Gina Rinehart is still Australia’s richest woman and one of a record 23 women on the BRW Rich 200 list, but she has lost her mantle as the country’s wealthiest person after her fortune took an $8 billion tumble this year. The Fin

Nominally safer, but Barnett factor puts Wyatt on edge

Australia’s first indigenous frontbencher, Liberal MP Ken Wyatt, is at serious risk of losing Hasluck on July 2, as Western Australia’s economic slowdown and the Barnett government’s unpopularity boost Labor’s bid to reclaim the Perth eastern-fringe seat. The Aus

Morgans takes axe to adviser pay in revamp

Global investment bank Morgan Stanley has bitten the bullet on a major overhaul of its $26 billion Australian wealth management business, slicing advisers’ pay to tackle unrelenting cost pressures that are making much of the industry unprofitable. The Aus

Rinehart case set for open court

Arguments about whether Gina Rinehart exercised “undue influence” on her estranged children to force them to sign contracts will be heard in open court after the mining magnate yesterday lost an initial bid to move a dispute over ownership of parts of her resources empire behind closed doors. The West

 

 

The Australian Financial Review

Page 1: ANZ Banking Group denied it pressured stockbroker Bell Potter to sack its top salesman after he launched a savage take-down of the bank’s new chief financial officer that went viral.

Page 2: Gina Rinehart is still Australia’s richest woman and one of a record 23 women on the BRW Rich 200 list, but she has lost her mantle as the country’s wealthiest person after her fortune took an $8 billion tumble this year.

Page 5: Unpopular Western Australian Premier Colin Barnett has ruled out a nasty leadership battle if the Liberal Party decides it has a better chance of winning a third term without the 65-yearold at the helm.

Page 8: Business investment contracted sharply in the March quarter as non-mining expenditure again failed to pick up much of the slack left by Australia’s resources downturn.

Page 9: Telstra has secured a government contract worth $220 million over five years to build the Australian National Cancer Screening Register from next year.

Page 11: Chinese tourists say they spend about 40 per cent more on Australian products after visiting the country, in a demonstration of how tourism drives bilateral economic links from trade to investment.

Page 17: BHP Billiton will take another three years before deciding if heap leaching technology will ultimately allow a big expansion of the Olympic Dam copper and uranium mine, as it first pursues a more sedate underground mining push into the large, untouched part of the ore body originally earmarked for a massive $30 billion open pit.

Page 19: Woolworths is expected to follow Wesfarmers’ lead and clear the decks at its battling BIG W chain by booking restructuring charges and asset impairments, further denting bottom line profits this year.

Page 20: Retail investors will be able to fund business loans for the first time in Australia after the corporate regulator granted a new licence to the peer-to-peer lending platform RateSetter.

Page 22: Canada’s Brookfield Infrastructure may be forced to hand control of the Australian Container Freight Services joint venture to the Tzaneros family to help overcome competition concerns over the $9 billion break-up of ports and rail giant Asciano.

 

 

The Australian

Page 1: Bill Shorten has been forced into a disorderly retreat on $8 billion in budget savings as he admits to voters that Labor will accept unpopular cuts to families and pensioners amid a new alert from ratings agency Moody’s over the danger of deeper deficits.

Page 3: Consumers have won a decade long battle against airlines fleecing customers with sky-high surcharges, with carriers facing massive penalties if they continue with excessive card fees.

The billion-dollar stoush over the fortune of one of the country’s wealthiest families will be heard in a public trial, quashing the hopes of mining magnate Gina Rinehart to have the matter dealt with in a private arbitration.

Page 4: One of Australia’s dairy industry leaders has accused dominant milk processor Murray Goulburn of acting unfairly towards dairy farmers in imposing savage and retrospective milk price cuts late last month.

Page 7: Labor will set up a permanent health reform commission if elected on July 2, abandoning the various bureaucracies it established in government in favour of a new agency focused on making better use of limited budgets.

Australia’s first indigenous frontbencher, Liberal MP Ken Wyatt, is at serious risk of losing Hasluck on July 2, as Western Australia’s economic slowdown and the Barnett government’s unpopularity boost Labor’s bid to reclaim the Perth eastern-fringe seat.

Page 19: Global investment bank Morgan Stanley has bitten the bullet on a major overhaul of its $26 billion Australian wealth management business, slicing advisers’ pay to tackle unrelenting cost pressures that are making much of the industry unprofitable.

Asciano will press ahead with a shareholder vote on the Qube Holdings-led $9 billion takeover bid next week despite the competition watchdog raising “amber-light’’ concerns on behalf of affected parties.

Page 21: Airlines, restaurants and corner stores will face hefty penalties if they slug their customers with excessive debit and credit card surcharges, after the competition watchdog and the Reserve Bank cracked down on “rip-off” merchants.

Page 24: Foreign retailers setting up shop in Australia are now eyeing cities outside Sydney and Melbourne for the next leg of their expansion, while a slew of new retailers including cafes, restaurants and sports stores are also pondering an entry.

 

 

The West Australian

Colin Barnett has revealed his concern over religious elements of the Liberal party getting involved in pre-selections, warning their careers would stall under him if it continued.

Arguments about whether Gina Rinehart exercised “undue influence” on her estranged children to force them to sign contracts will be heard in open court after the mining magnate yesterday lost an initial bid to move a dispute over ownership of parts of her resources empire behind closed doors.

Donald Trump has reached the number of delegates needed to clinch the Republican nomination for US president, completing an unlikely rise that has upended the political landscape and set the stage for a bitter autumn campaign.

Fresh questions have been raised about the quality of work done at Elizabeth Quay after an investigation found plumbing at the marquee development was littered with problems.

WA has lost its most experienced industrial stalwart with the retirement of Chief Commissioner Tony Beech after 28 years on the job with the State’s workplace umpire.

The finishing line is in sight for the owners of the Sino Iron magnetite project, with its Chinese parent company last night announcing commissioning has begun on the final two processing lines.

The lithium boom is set to enter a new phase with expectations the joint owners of the Mt Cattlin spodumene mine near Ravensthorpe are finalising a $700 million merger.

Mines Minister Sean L’Estrange says concessions may be needed to win support for the sale of Port Hedland’s Utah Point terminal, in the face of vocal opposition from its users.

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