Shell under fire in WA over FLNG support
Shell Australia chairman Andrew Smith has refused to disclose to a parliamentary inquiry whether the oil and gas giant was encouraged by Commonwealth representatives to pursue floating liquefied natural gas technology to develop the Browse gas fields rather than the state government’s preferred onshore development. The Fin
Chevron asks State for more of Barrow Island
Chevron and its Gorgon partners have asked for approval to use more of the Barrow Island nature reserve, having run out of room to accommodate construction of their $US52 billion ($53.9 billion) LNG development. The West
Voters to decide on budget cuts
The Abbott government intends to include controversial recommendations from its Audit Commission in its first budget and avoid breaking its election commitments by promising to implement them after the next election. The Fin
Glory pocketed $250,000: Buswell
The State Government wrote off almost $250,000 after Tony Sage’s Perth Glory refused to pay a bill for taxpayer-funded public transport for home games at NIB Stadium worth nearly $400,000.
Stadium contender emerges
A Consortium led by Brookfield Multiplex has emerged as the frontrunner for the contract to build a $1 billion sporting stadium in Perth. The Aus
Robb backs review of Huawei ban
Trade Minister Andrew Robb has effusively praised Chinese telecommunications company Huawei and said he “strongly supports” reviewing a government ban on its equipment. The Fin
Opponents will have to block supply to defeat Direct Action
Funding for the centrepiece of Tony Abbott’s Direct Action climate change policy, the Emissions Reduction Fund, will be attached to budget appropriation bills under contingency plans to thwart expected efforts by Labor, the Greens and crossbench senators to scuttle the policy. The Aus
Nippon head hits out over gas critics
One of Japan’s pre-eminent business leaders has hit back at criticism from Australian LNG producer Woodside over the Japanese government’s attempts to drive prices lower. The Aus
Conservation bid blow for Polaris
Plans to open up to four mines in the Yilgarn iron ore province may never be realised after the Environmental Protection Agency yesterday sided with conservationists against further development in the Helena Aurora Range. The West
The Australian Financial Review
Page 1: The Abbott government intends to include controversial recommendations from its Audit Commission in its first budget and avoid breaking its election commitments by promising to implement them after the next election.
Treasurer Joe Hockey’s unprecedented $8.8 billion capital injection into a Reserve Bank of Australia buffer fund aims to sandbag the economy against a repeat of the US debt crisis.
Page 3: Trade Minister Andrew Robb has effusively praised Chinese telecommunications company Huawei and said he “strongly supports” reviewing a government ban on its equipment.
Andrew Forrest knocked back a chance to acquire a key stake in Fairfax Media in 2011, paving the way for billionaire Gina Rinehart to emerge as the single biggest shareholder in the publisher, according to an unauthorised biography of the mining magnate.
Page 5: While pledging to axe 12,000 public service jobs over two years, Prime Minister Tony Abbott will oversee an unprecedented expansion of his own department by the end of the year as part of a Public Service reorganisation.
Page 7: The rising dollar is again worrying business leaders in manufacturing, exports generally and tourism.
Page 16: Payments to generators to shut power stations will not be on the table as part of the federal government’s emissions reduction policy in spite of support for the policy from the sector.
Shell Australia chairman Andrew Smith has refused to disclose to a parliamentary inquiry whether the oil and gas giant was encouraged by Commonwealth representatives to pursue gloating liquefied natural gas technology to develop the Browse gas fields rather than the state government’s preferred onshore development.
Page 27: Telstra chief executive David Thodey is talking up the high value of the telco’s copper network as he prepares to enter high-stakes negotiations with NBN Co over its ownership.
Page 28: Warm winter weather has stripped up to $70 million of profits from AGL Energy and Origin Energy in the September quarter, with intense competition in retailing to add to the earnings pain this year.
The Australian
Page 1: Alarm over the rising Australian dollar has spurred the Abbott government to develop contingency plans for a global shock amid fears the US will fail to settle its damaging political row on economic policy.
Funding for the centrepiece of Tony Abbott’s Direct Action climate change policy, the Emissions Reduction Fund, will be attached to budget appropriation bills under contingency plans to thwart expected efforts by Labor, the Greens and crossbench senators to scuttle the policy.
Page 3: ABC managing director Mark Scott has lashed out at The Australian for revealing the Rudd government’s last-minute appointment of Barrie Cassidy as chairman of the Old Parliament House Advisory Council.
A surprise jump in inflation has quelled hopes of further interest rate cuts, boosting the dollar and putting more pressure on the government to bolster Australia’s sluggish economic growth.
Page 4: Medibank Private has aggressively lobbied the commonwealth for a series of health insurance reforms it argues would reduce red tape, increase competition in the industry and ultimately benefit members.
Commonwealth lawyers want the full bench of the High Court to set aside time next month to kybosh the ACT’s gay marriage laws, as Tony Abbott urged couples not to use the new rules to wed until the legal issues were resolved.
Page 6: The country’s wine industry, beset by a high dollar and decades of oversupply of grapes, may be on the mend, with the value of bottled wine exports the highest recorded since the global financial crisis.
Page 17: ANZ Bank chief executive Mike Smith has hit back at JPMorgan and its analysis of the bank’s superregional strategy, urging the US giant to look in its own backyard where it is negotiating a $US13 billion ($13.4bn) settlement with US regulators.
One of Japan’s pre-eminent business leaders has hit back at criticism from Australian LNG producer Woodside over the Japanese government’s attempts to drive prices lower.
Page 18: Energy giant Chevron is preparing to spend almost $500 million on oil and gas exploration as part of a massive push into the Bight Basin off South Australia, in a departure from its primary focus on LNG projects in Western Australia.
Pay-TV operator Foxtel’s newly appointed chief operating officer, Rohan Lund, will lead fresh efforts to launch a ‘‘triple play’’ option of pay TV, broadband and telephone services.
Page 19: The Future Fund has released figures showing it not only outperformed the most aggressive pooled super funds in Australia over a five-year period to September 30 but is also on track to reach and exceed its target of $140 billion by 2020.
Page 27: A Consortium led by Brookfield Multiplex has emerged as the frontrunner for the contract to build a $1 billion sporting stadium in Perth.
The West Australian
Page 1: The State Government wrote off almost $250,000 after Tony Sage’s Perth Glory refused to pay a bill for taxpayer-funded public transport for home games at NIB Stadium worth nearly $400,000.
Page 3: WA Liberals will push Tony Abbott to strip tax benefits from parents who refuse to immunise their children as part of a national clampdown on so-called “conscientious objectors”.
Page 4: Tony Abbott has offered an excuse for Don Randall charging taxpayers more than $5,000 for a trip to Cairns, saying he had “very important” talks with the then-opposition whip.
Page 14: The Abbott Government will drive the Budget deficit towards $40 billion by diverting almost $9 billion into the Reserve Bank as Treasurer Joe Hockey signals growing concerns about the international economy.
Page 16: WA’s small business commissioner says senior public servants should have up to 20 per cent of their pay linked to key targets to help the public service run more effectively.
Business: Chevron and its Gorgon partners have asked for approval to use more of the Barrow Island nature reserve, having run out of room to accommodate construction of their $US52 billion ($53.9 billion) LNG development.
Longstanding advisory gigs with the likes of high-fliers Sirius Resources, Atlas Iron and MACA have helped Hartleys withstand the full brunt of the worst trading conditions faced by Perth stockbrokers in two decades.
Plans to open up to four mines in the Yilgarn iron ore province may never be realised after the Environmental Protection Agency yesterday sided with conservationists against further development in the Helena Aurora Range.
The State Opposition has warned the Barnett Government has missed its chance to reform WA’s ports, saying legislation introduced into Parliament yesterday would tighten Treasury’s control rather than freeing up port boards to respond to commercial demands.
Sirius Resources shares took off again yesterday after the company released its September quarter and annual report, and presented at a Brisbane investment conference.