Shell defends Browse plan
Royal Dutch Shell chief executive Peter Voser has defended the oil major against attacks from West Australian Premier Colin Barnett over its concerted push to develop the massive Browse gas fields using radical floating LNG technology, or FLNG. The Aus
FMG, Atlas talk up ore price as records tumble
Fortescue Metals Group has wasted no time in moving on the first stage of its Iron Bridge joint venture with China’s Baosteel and Taiwanese conglomerate Formosa Plastics Group. The West
ATO to scrap returns for 1.4m
The Australian Tax Office is close to achieving what former treasurer Wayne Swan failed to go – getting rid of the hassle for millions of taxpayers of lodging a tax return. The Fin
Newcrest’s $470m debt lock quells talk of raising
Embattled goldminer Newcrest has moved to defuse speculation on the need for an equity raising by securing access to an extra $US450 million ($470m) in new debt facilities, giving it added insulation from a burst of anxiety over its debt and refinancing capabilities should gold prices weaken further. The Aus
Randall to repay airfare money
Embattled WA Liberal MP Don Randall will repay more than $5,000 of taxpayer money he used to fly him and a family member to Cairns where he bought an investment property. The West
Savings axe to hit AusAID staff
The Coalition is widening its search for public-sector cuts after learning of a surge in staff at key agencies, adding new targets to its earlier plan to save $5.2 billion on salaries and expenses. The Aus
Power utility to cut jobs in savings drive
The State Government and Western Power are refusing to reveal the scale of redundancies at the public utility amid a review of its operations “to deliver greater efficiencies”. The West
Paladin sets date to face the music
After imploring shareholders to stick with Paladin Energy last year, managing director John Borshoff faces another tough annual meeting with both uranium and the embattled company’s share price in the doldrums and some questioning Paladin’s long-term survival. The West
The Australian Financial Review
Page 1: President Barack Obama has signed off on an eleventh-hour agreement cobbled together by the US Congress that will reopen the government and avert running out of money, but uncertainty may return to haunt financial markets in three months because of a failure to cut a long-term deal.
Page 3: The Australian Tax Office is close to achieving what former treasurer Wayne Swan failed to go – getting rid of the hassle for millions of taxpayers of lodging a tax return.
Page 4: Labor MPs have lashed out at former colleague Nicola Roxon for “reheating” the divisions that riddles the party under the Rudd and Gillard governments.
Page 5: Leighton Holding’s board has come under fire from corporate governance experts for failing to adopt global best practice as it meets formally for the first time since Fairfax Media alleged former executives were aware of kickback payments.
Page 6: A spat has broken out between industry superannuation funds and the banks over a raft of financial planning reforms aimed at improving the quality of advice for Australian consumers.
Page 7: The Abbott government has reunited the top two chiefs from the Howard government’s construction watchdog as it seeks to take a tougher line on militant building unions.
Page 13: Boral’s Mike Kane is the latest chief executive to pin his growth hopes on Asian markets, announcing a $US1.6 billion joint venture with US plasterboard maker USG Corporation.
Besieged goldminer Newcrest Mining has won a rare endorsement from the investment community, with major shareholder First Eagle Investment Management revealing that its attraction to the stock mainly lies in its “high quality, long-life” assets.
Page 15: Ten Network Holdings chief executive Hamish McLennan says the company is prepared to spend big on live sport and reality television in a bid to lift its historically low ratings and advertising market share.
Page 16: Fortescue Metals Group chief executive Nev Power has put a low priority on pursuing further growth, saying that the company’s main focus over the next few years will be wringing the most out of its existing Pilbara mines and reducing debt.
More than 10 months after announcing a $US1.3 billion deal to buy into the giant Leviathan gas field in Israel, Woodside Petroleum has admitted the transaction remains up in the air amid uncertainty over the country’s gas export policy.
Page 17: Commonwealth Bank of Australia chief information officer Michael Harte has launched a broadside attack on Apple, accusing the consumer giant for falling behind on contactless payments.
The Australian
Page 3: News generated by the taxpayer-funded ABC is being sold to commercial media outlets, which are running advertisements alongside and embedded in the articles.
Woolworths will stop importing all frozen vegetables sold as its own-brand products in a move that will throw a lifeline to struggling Tasmanian growers.
Page 4: The Coalition is widening its search for public-sector cuts after learning of a surge in staff at key agencies, adding new targets to its earlier plan to save $5.2 billion on salaries and expenses.
A Nationals senator is threatening to oppose Tony Abbott’s paid parental leave scheme because the economy is not strong enough to support the $5.5 billion plan.
West Australian Liberal MP Don Randall will pay back more than $5000 in travel allowances he claimed for a trip to Cairns for himself and a family member ‘‘to avoid any ambiguity’’ over whether they were justified.
The company building the National Broadband Network has recruited former Telstra executive JB Rousselot to take a lead role in a strategic review of its operations and financial position.
Page 6: Mining giant BHP Billiton will today announce a $10 million investment in indigenous education, a commitment that high school students Jasmin Barunga and Koree Walker-Ryan hope will enable more of their peers to leave their remote communities and join them at boarding school in Perth.
Page 17: Royal Dutch Shell chief executive Peter Voser has defended the oil major against attacks from West Australian Premier Colin Barnett over its concerted push to develop the massive Browse gas fields using radical floating LNG technology, or FLNG.
Page 18: Embattled goldminer Newcrest has moved to defuse speculation on the need for an equity raising by securing access to an extra $US450 million ($470m) in new debt facilities, giving it added insulation from a burst of anxiety over its debt and refinancing capabilities should gold prices weaken further.
Atlas Iron’s customers want more iron ore and are prepared to pay an improved price for next year’s shipments but the market remains sceptical about the miner’s infrastructure solution to support its expansion plans.
Rio Tinto’s $US20 billion ($20.8bn) Simandou iron ore project in Guinea will see more than 10,000 people relocated to make way for a railway to move the raw material to the coast, raising potential issues over who will be responsible for their wellbeing.
The coal-seam gas industry has exaggerated the number of jobs it created last year more than 10-fold, a study by The Australia Institute has found.
Page 29: Australian leisure travellers are set to benefit from an escalating battle between long-haul, low-cost airlines as an explosion in capacity on international routes promises to further reshape the market.
The West Australian
Page 6: Embattled WA Liberal MP Don Randall will repay more than $5,000 of taxpayer money he used to fly him and a family member to Cairns where he bought an investment property.
Page 12: There are hopes WA could become an international leader in child health research after a $5 million Telethon donation was made to bring some of the world’s top medical minds to the State.
Page 16: The State Government and Western Power are refusing to reveal the scale of redundancies at the public utility amid a review of its operations “to deliver greater efficiencies”.
Page 22: A respected Perth paediatrician has attacked the State Government’s decision not to add an extra storey to the new children’s hospital, saying claims it can be expanded later are unrealistic.
Business: Fortescue Metals Group has wasted no time in moving on the first stage of its Iron Bridge joint venture with China’s Baosteel and Taiwanese conglomerate Formosa Plastics Group.
Gina Rinehart has opted out of a $200 million guarantee given to Ten Network by its other big-name shareholders.
The crisis over getting this year’s bumper harvest to port deepened yesterday when farmers were warned the rail line passing through Wickepin would not carry any grain because of its poor condition.
After imploring shareholders to stick with Paladin Energy last year, managing director John Borshoff faces another tough annual meeting with both uranium and the embattled company’s share price in the doldrums and some questioning Paladin’s long-term survival.
Two WA live exporters are caught up in an unholy row over regulations governing the industry as they compete in a Middle East marketplace during one of the most important events on the Islamic calendar.
Empire Oil & Gas has left shareholders guessing about the true state of director’s pay deals after last night declaring it could not disclose amended details because its auditor was not available.
Woodside Petroleum has opened an office in Singapore with the ambition of becoming a trader of other companies’ LNG.
