Fuel rebate fear for big miners
The earnings and dividends of two of the country’s most widely held stocks, BHP Billiton and Rio Tinto, could be decimated if the mining industry loses its diesel fuel rebate after next month’s election. The Aus
Rinehart prospects for names
Gina Rinehart appears to be setting the stage for a change of name for the family’s flagship company, reserving two new business names with the corporate regulator. The West
Calibre in WA management shake-up
Calibre Group has removed the head of its mining-focused WA subsidiary under a restructure aimed at reflecting a reduced workload. The West
Economy up, incomes down
Sluggish business investment, falling profits and faltering wages growth have overshadowed a surge in export-driven economic growth as the most sustained squeeze on national income on record heads towards an unprecedented fourth year. The Fin
CBA flags savings rate boost in wake of new regulations
Banks may be forced to compete more aggressively for deposits by paying savers higher interest rates ahead of new global regulations which come into force at the end of next year, says the boss of Commonwealth Bank of Australia’s retail bank, Matt Comyn. The Fin
CFMEU labourers on $150k a year
Workers on the nation’s building sites are being paid “reckless” wages under union agreements, with labourers earning vastly more than teachers, police officers and nurses. The Aus
Barnett backlash dents hopes of WA Liberals
Economic uncertainty from the end of the mining boom and the toxicity of Colin Barnett’s Government are emerging as lethal threats to sitting Liberal MPs in the Federal election. The West
The Australian Financial Review
Page 1: Sluggish business investment, falling profits and faltering wages growth have overshadowed a surge in export-driven economic growth as the most sustained squeeze on national income on record heads towards an unprecedented fourth year.
The Reserve Bank of Australia has been presented with a new dilemma over interest rate policy amid the latest mixed economic growth figures with a sudden house price surge in May.
Page 4: Labor leader Bill Shorten’s plan to keep the top tax rate at nearly 50 per cent will spur tax avoidance that will trim some of the extra revenue that should be raised by the decision, a top tax expert says.
Page 6: Superannuation experts warn a planned crackdown on transition-to-retirement pensions will hurt middle income savers and burden the industry.
Page 8: Unions are pushing the Labor Party to change workplace laws to ensure workers do not suffer cuts in pay and conditions under agreements approved by the Fair Work Commission.
Page 19: A bidding war is expected to erupt for global laboratory testing outfit ALS after the revelation that private equity giant Bain Capital and sponsor partner Advent International had teamed up for a $2 billion-plus tilt at the company.
Smart retailers are realising there's money to be made just by parking your store right next door to Aldi the German grocery giant.
Banks may be forced to compete more aggressively for deposits by paying savers higher interest rates ahead of new global regulations which come into force at the end of next year, says the boss of Commonwealth Bank of Australia’s retail bank, Matt Comyn.
Page 24: Heavy staff and management turnover at Woolworths is weighing on the retailer’s five-year turnaround plan, chief executive Brad Banducci has told suppliers.
Page 29: Rather than facing a ‘‘death spiral’’, the electricity grid is set to become the backbone of the ‘‘internet of energy,’’ with the help of batteries – as long as policymakers get on board.
Virgin Australia has applied for regulatory permission to launch daily flights from Australia to Hong Kong and Beijing next June just a day after it revealed China’s HNA Aviation would take a 13 per cent stake in the Australian carrier and receive a board seat.
Page 37: Active property management and an easing of Perth’s mining hangover have resulted in a surge in office leasings for one of Western Australia’s biggest property owners, Charter Hall.
The Australian
Page 1: Malcolm Turnbull is staring down a new bid from Liberal MPs to scale back a $6 billion tax hike on superannuation, amid rising dissent over the impact on ordinary workers and fears of a backlash from the government’s strongest supporters.
Page 5: The value of Australian farmland has grown by an average of 6 per cent annually over the past 20 years, making it one of the best returning and most resilient long term asset classes available to investors.
Page 6: Workers on the nation’s building sites are being paid “reckless” wages under union agreements, with labourers earning vastly more than teachers, police officers and nurses.
Page 7: The Greens have promised to build about 1000km of bike and walking tracks in Australian cities as part of a $1 billion election promise.
Page 8: Soaring childcare and early learning costs would influence almost a third of Australians to specifically support political candidates who back affordable access ahead of other issues, according to a national poll.
Page 19: Australia’s twin resource and real estate booms have pushed the country’s growth rate to the highest level in four years, but lacklustre wages and profits still point to further interest rate cuts.
Advent International and Bain have approached laboratory testing group ALS with a $2 billion-plus offer, the latest and largest in a growing line of private equity acquisitions in the hard-hit mining services sector.
Troubled steelmaker Arrium has been caught up in yet another feud after its administrators, KordaMentha, marched off to court to prevent Blackstone’s credit arm, GSO, from demanding millions of dollars in fees that were attached to a recently repaid $US100 million loan.
Page 20: Blackmores chief Christine Holgate has derided the attention given to mooted changes to the superannuation system in the federal election campaign, arguing that Australia faces a far larger and more threatening problem from its ageing population and how to pay their healthcare bills.
Page 21: JB Hi-Fi chief executive Richard Murray says the collapsed Dick Smith chain had an “unsustainable” retail model that included selling PlayStation 4 consoles through eBay at prices that “torched the market” for everyone else and “aggressive” discounting on Apple products that failed to win the loyalty of customers.
Page 22: The earnings and dividends of two of the country’s most widely held stocks, BHP Billiton and Rio Tinto, could be decimated if the mining industry loses its diesel fuel rebate after next month’s election.
Rio Tinto has confirmed its Jadar project in Serbia is a potential category-killer for the ambitions of the hundreds of juniors looking to hitch a ride on the battery-driven lithium boom.
Junior explorer Rox Resources will look to spin off its interest in its Teena zinc discovery in the Northern Territory after announcing it had defined a “world class” resource at the project.
Page 23: David Neal, head of the nation’s sovereign wealth fund, has confirmed the independent body will press Canberra for a lower return target as “elevated risks” present themselves across the globe.
The West Australian
Economic uncertainty from the end of the mining boom and the toxicity of Colin Barnett’s Government are emerging as lethal threats to sitting Liberal MPs in the Federal election.
French industrial services giant Suez has completed its $87 million purchase of waste management business Perthwaste.
Gina Rinehart appears to be setting the stage for a change of name for the family’s flagship company, reserving two new business names with the corporate regulator.
Perth-based Marine Produce Australia is closer to making an export splash with barramundi from Cone Bay after having its production capacity more than doubled.
Calibre Group has removed the head of its mining-focused WA subsidiary under a restructure aimed at reflecting a reduced workload.
Hong Kong investment house APAC Resources is quitting its stake in Peter Cook’s Metals X, telling shareholders last night it was looking to sell its holding in the gold and base metals miner.
An interest rate cut has not been enough to prevent another fall in housing values across Perth.
Shares in Dacian Gold continued to storm higher today after the company released a fresh batch of positive drilling results from its Mt Morgans project near Laverton.
The owners of the Boulevard IGA in City Beach are hoping to capitalise on the local community’s love of the outdoors and sport when it opens in August.
