Former Xstrata boss in race to chair Rio
The Fin
Former Xstrata boss Mick Davis has emerged as a leading contender to chair Rio Tinto. The company is expected to name a replacement for incumbent Jan du Plessis within two months.
Smith goes on the attack
The Fin
Former ANZ chief executive Mike Smith says the big four banks could have handled recent political attacks better. ‘‘It’s being used as political capital ... when you want to get mob interest, you turn on the banks. Hitler did it,’’ he said after speaking at the UBS Australasia conference in Sydney yesterday.
End of an era as Shell sells out of Woodside
The Fin
Woodside Petroleum chairman Michael Chaney has declared ‘‘the end of an era’’ as the oil and gas player emerged as a fully independent company for the first time in more than 30 years, thanks to a $3.5 billion sellout by Royal Dutch Shell.
PM in first strike on ALP star candidate Keneally
The Aus
Malcolm Turnbull has unleashed an attack on star Labor challenger Kristina Keneally over her time as NSW premier, as he fights to keep his slim majority in federal parliament and stop the Bennelong byelection on December 16 turning into a test of his leadership.
Business buoyed by rising sales
The Aus
More businesses say their profits and sales are improving than at any time in at least the last 20 years, while there remains no trace of inflation.
China’s foot on the gas as exports boom
The Aus
Queensland is exporting gas at record rates as resurgent oil prices boost LNG contract revenue and a Chinese push to reduce coal-fired power and heating pushes LNG spot prices to two-year highs and underpin medium-term demand.
Freo MP could pass court test
The West
British-born Fremantle MP Josh Wilson will be in a “slightly better” position than Tasmanian Labor colleague Justine Keay if they are referred to the High Court over their British citizenship, a constitutional law expert says.
Direct flights to Shanghai set for trial
The West
A trial of direct flights between Perth and Shanghai could start in October after Premier Mark McGowan got a commitment from the chairman of China’s second biggest airline at a meeting in Shanghai yesterday.
Subiaco market may reopen if site sold
The West
The Pavilion Markets in Subiaco, closed for nearly a decade, could reopen under a possible new deal.
Albemarle to build lithium plant in WA
The West
US chemicals giant Albemarle will follow the lead of its Chinese joint venture partner in the Greenbushes lithium mine by building a lithium hydroxide plant in WA, potentially representing a near $1 billion investment in the State.
The Australian Financial Review
Smith goes on the attack
P1
Former ANZ chief executive Mike Smith says the big four banks could have handled recent political attacks better. ‘‘It’s being used as political capital ... when you want to get mob interest, you turn on the banks. Hitler did it,’’ he said after speaking at the UBS Australasia conference in Sydney yesterday.
End of an era as Shell sells out of Woodside
P1
Woodside Petroleum chairman Michael Chaney has declared ‘‘the end of an era’’ as the oil and gas player emerged as a fully independent company for the first time in more than 30 years, thanks to a $3.5 billion sellout by Royal Dutch Shell.
NBN revenue doubles as it pushes for speed transparency
P2
NBN Co chief executive Bill Morrow said the infrastructure builder was working with the government on publishing achievable speeds in customers’ homes where retail service providers don’t provide the information voluntarily, in an effort to manage consumer expectations on the national broadband network.
Best business conditions in decades: NAB
P3
Discord between Australian business conditions and corporate sentiment has worsened to its widest since before the 2008 global financial crisis, raising doubts over the sustainability of the current investment upswing.
Replacement for Lambie could also be inelligible
P5
Former senator Jacqui Lambie’s likely replacement is also under a constitutional cloud over his eligibility to sit in Parliament because he is a serving mayor.
AWU disputes ROC’s refusal of documents
p9
The union watchdog is refusing demands to disclose communications with Employment Minister Michaelia Cash’s office that occurred after last month’s raids on the Australian Workers Union offices.
Employers abandon EBAs over ‘errors’
P10
Hundreds of employers are withdrawing proposed enterprise bargaining agreements from the Fair Work Commission due to minor technical errors, delaying pay increases for thousands of workers.
China cools on coal, oil, embraces renewables
P11
The world’s worst polluter is leading the clean energy revolution, according to the International Energy Agency.
Former Xstrata boss in race to chair Rio
p15
Former Xstrata boss Mick Davis has emerged as a leading contender to chair Rio Tinto. The company is expected to name a replacement for incumbent Jan du Plessis within two months.
Amazon impact could be even greater with speedy rollout
P15
Amazon’s decision to launch a twopronged attack on the $300 billion Australian retail market and replicate its fast-paced rollout in Spain will magnify the impact on Australian retailers, analysts say.
Revived Newcrest aims to bolster assets
p17
Newcrest Mining has vowed to pivot towards growth as it mulls acquisitions and expands its exploration footprint in prospective locations such as Ecuador.
Lithium reserves head for supply bottleneck
P20
The world is heading for a lithium bottleneck because even though there are enough reserves of the resource available, producers say it can’t get into the battery supply chain in time for the anticipated uptick in electric vehicles.
The Australian
PM in first strike on ALP star candidate Keneally
P1
Malcolm Turnbull has unleashed an attack on star Labor challenger Kristina Keneally over her time as NSW premier, as he fights to keep his slim majority in federal parliament and stop the Bennelong byelection on December 16 turning into a test of his leadership.
Crackdown on foreign influence
P2
Foreign state media outlets and lobbyists for overseas companies could be forced to register as foreign agents under tough new laws that will criminalise covert foreign interference in Australia.
Stress feared as ABC tears down the silos
P3
ABC managing director Michelle Guthrie vowed yesterday to tear down the traditional silos of television and radio in her quest to bring the broadcaster closer to audiences, while unions feared months of change would increase staff stress levels.
Nat may face court test over retail centre deal
P4
The High Court “cannot decide” if Nationals MP David Gillespie has fallen foul of the Constitution because he has not been referred by federal parliament, Solicitor-General Stephen Donaghue says.
Business buoyed by rising sales
P6
More businesses say their profits and sales are improving than at any time in at least the last 20 years, while there remains no trace of inflation.
China’s foot on the gas as exports boom
P17
Queensland is exporting gas at record rates as resurgent oil prices boost LNG contract revenue and a Chinese push to reduce coal-fired power and heating pushes LNG spot prices to two-year highs and underpin medium-term demand.
ASIC probes banks, funds over tardy transition to MySuper accounts
P17
The corporate watchdog has launched an investigation into the big four banks and large wealth managers, examining disclosure practices during their tardy approach to move superannuation assets out of high-fee legacy products into low-fee accounts.
Ensuring research funds are safe and Sohn
P17
Philanthropic donations will play an increasing role in funding medical research in Australia, according to Bob Graham, executive director of the Victor Chang Cardiac Research Institute.
Tabcorp at short odds as bid faces final hurdle
P17
Tabcorp’s 13-month battle to win control of Tatts could hit a final hurdle this week with the Australian Competition Tribunal due to hand down its decision. It is expected to back the deal.
Glencore enlists Morgan Stanley for Rolleston sale
P18
International trading house Glencore has called in Morgan Stanley to help sell its Rolleston coalmine, which is a central part of the ongoing Wiggins Island Coal Export restructure.
Local M&A tipped to double
P18
The level of domestic mergers and acquisition activity in Australia is forecast to double next year, as bankers hold out hope that low interest rates and cheap debt will help fuel a rebound in corporate activity.
Super funds get on Woodside
P18
Shell’s block trade out of Woodside Petroleum has confirmed the market is ripe for other major selldowns, but the big question everyone was asking yesterday was which of the superannuation funds are the cornerstone investors.
One more Xmas before Amazon presence: Citi
P19
Australia’s domestic retailers might have just one last Christmas to enjoy the full attention of shoppers before Amazon lands, with a report from Citi suggesting the US retail behemoth was unlikely to capture significant market share this Christmas as its sales for the holiday period are capped at about $200 million.
Myer, liar, pants on fire: Lew repeats his claim
P19
A fortnight before Myer’s annual general meeting, tension between the board and its biggest shareholder, billionaire Solomon Lew, has intensified again with Mr Lew repeating his incendiary line that incoming Myer chairman Garry Hounsell lied to shareholders.
Smith pushes for four pillars to fall
P21
Former ANZ Banking Group chief executive Mike Smith has reaffirmed his support for ditching the “four pillars” policy which restricts big bank mergers, amid increasing pressure on parliament to inject more competition into the banking sector.
The West Australian
Freo MP could pass court test
P8
British-born Fremantle MP Josh Wilson will be in a “slightly better” position than Tasmanian Labor colleague Justine Keay if they are referred to the High Court over their British citizenship, a constitutional law expert says.
Bid to check live export vessel fails
P11
The State Government has taken the unusual step of seeking to inspect a live export vessel in Fremantle harbour amid concerns that companies are using old and unfit ships for voyages to the Middle East.
Direct flights to Shanghai set for trial
P13
A trial of direct flights between Perth and Shanghai could start in October after Premier Mark McGowan got a commitment from the chairman of China’s second biggest airline at a meeting in Shanghai yesterday.
Subiaco market may reopen if site sold
P20
The Pavilion Markets in Subiaco, closed for nearly a decade, could reopen under a possible new deal.
Peak cost slug in power pay plans
P23
Electricity consumers who are a drain on the power grid during peak periods will be charged more under mobile phone-style payment plans being rolled out in two of WA’s biggest towns.
Coal workers vote for pay cut
P33
Workers at a struggling Collie coal mine have agreed to sacrifice more than a third of their pay after a knife-edge vote to accept a heavily diluted wage deal.
Brownes sale secures market in hungry China
P33
WA dairy farmers hope the sale of Brownes to Chinese interests will put a floor under prices and help the industry grow.
Regulator questions Quintis
P34
The corporate regulator has been probing Quintis since April, demanding documents and quizzing directors and executives over the sandalwood grower’s fall from favour.
$130k a week for NAB boss
P34
National Australia Bank chief Andrew Thorburn collected almost $130,000 worth of pay and perks every week on average over the past financial year — even after receiving a pay cut.
BAE Systems talks up its local cred in frigate bid
P87
British defence company BAE Systems is drawing on its 65-year history in this country to pitch itself as an Australian shipbuilder for the $35 billion frigate project.
Albemarle to build lithium plant in WA
P87
US chemicals giant Albemarle will follow the lead of its Chinese joint venture partner in the Greenbushes lithium mine by building a lithium hydroxide plant in WA, potentially representing a near $1 billion investment in the State.
Perth office to ‘flip’ in 2018
P89
Next year will be the flip year for Perth’s languishing CBD office market, Knight Frank predicts.
MRA to sell five eclectic retail outlets
P90
The Metropolitan Redevelopment Authority is selling five heritage William Street retail properties in the Perth Cultural Precinct.
Notre Dame mulls student digs
P91
The University of Notre Dame Australia has declared it could convert the Customs House in Fremantle’s West End into student accommodation.
Stirling plans for life cycle at Jolimont
P92
Apartment developer Stirling Capital has declared owneroccupiers are its principle focus, with 90 per cent of its buyers Perth-based.
Some stand-out in patchy market
P93
Perth’s patchy apartment market is experiencing some outstanding results — but only where the alchemy of design and location are casting a spell.
Worship, learn or eat at Hazelmere
P94
A 5.5ha site near the Helena River in Hazelmere, zoned for potential uses including industrial, education and places of worship, is for sale.