05/02/2013 - 06:52

Today's Business Headlines

05/02/2013 - 06:52

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PM: enemy within our big threat – The Aus; BP mulls Browse gas stake – The West; British Airways to cut Qantas ties – The Fin; Barnett in $10m algae plant offer – The West; Goyder to lead G20 business adviser group – The Fin

Today's Business Headlines

PM: enemy within our big threat

Julia Gillard has demanded unity from her MPs and an end to leaking and criticising the government, as two senior cabinet ministers urged a greater role for Kevin Rudd in the wake of another disastrous opinion poll. The Aus

BP mulls Browse gas stake

BP has just days to scupper PetroChina's .63 billion plan to buy into the Woodside Browse LNG project. The West

British Airways to cut Qantas ties

British Airways plans to end a long-standing code share arrangement with Qantas Airways next month in protest at its global alliance with Emirates. The Fin

Barnett in $10m algae plant offer

WA has taken a step closer to becoming “the Saudi Arabia of algae biofuels” after the state government pledged to build a $10 million seawater pipeline for a pioneering algae production plant in Karratha. The West

Goyder to lead G20 business adviser group

Wesfarmers chief executive Richard Goyder will head a group of leading businesspeople helping host Australia's presidency of the Group of 20 major world economies next year. The Fin

 

THE WEST AUSTRALIAN

Page 1: Kevin Rudd's support among Federal Labor MPs is building amid calls from two cabinet ministers for the former prime minister to be better used to fight Tony Abbott.

Page 4: A veteran road safety campaigner says he is constantly amazed by motorists who play Russian roulette on the roads by driving under the influence, speeding, falling asleep and failing to pay attention to their surroundings.

Page 6: WA has taken a step closer to becoming “the Saudi Arabia of algae biofuels” after the state government pledged to build a $10 million seawater pipeline for a pioneering algae production plant in Karratha.

A welfare group is calling on the next state government to give up the responsibility for public housing.

Page 7: A Labor government would spend $8.8 million over three years to boost literacy rates in WA using phonics-based teaching.

Page 12: WA building approvals have climbed to their highest level in more than two years as the state's prospective homeowners start to take advantage of low interest rates.

Page 16: Town of Claremont mayor Jock Barker wants to see the Claremont Showground redeveloped into residential housing and the Perth Royal Show moved elsewhere.

Business: BP has just days to scupper PetroChina's .63 billion plan to buy into the Woodside Browse LNG project.

Swiss-based commodity giant Trafigura has swooped on WA's Gull Petroleum, with its petrol retailing arm Puma Energy acquiring Archer Capital's Ausfuel business for $625 million yesterday.

Wesfarmers chief Richard Goyder will head the country's efforts to build on its presidency of the G20.

The combination of an increasing debt burden, evaporating cash flow and a failed equity raising has forced Tanami Gold into a heavily discounted $65.3 million rights issue.

A Federal Magistrates Court registrar yesterday rejected a call for besieged rural property dealer Michael King to be put in the witness box and supply evidence about a $17.6 million deal that could save him from bankruptcy.

The RAC has tapped one of WA's leading healthcare executives to bulk up the board overseeing the retirement property business it bought late last year.

One-time gold maestro Joseph Gutnick is officially back on the acquisition hunt, declaring his stake in junior Blackham Resources as the first step in what could be a string of investments in WA gold stocks.

Agribusiness leaders have welcomed moves to tackle a skills shortage in the industry by restoring a tertiary business degree course at Muresk Institute.

The controversial South West development that endured the scrutiny of the Corruption and Crime Commission seven years ago, Smiths Beach, has attracted a price tag of $26.5 million.

Iron Ore Holdings reckons its Iron Valley deposit in the Pilbara can still get into production, dspite the cancellation of a potential tie-up with Fortescue Metals Group.

 

THE AUSTRALIAN FINANCIAL REVIEW

Page 1: A defiant Julia Gillard told Labor MPs to rise above the pressure on the government and stop backgrounding journalists as she sought to instil discipline and rally the caucus for a difficult election year.

British Airways plans to end a long-standing code share arrangement with Qantas Airways next month in protest at its global alliance with Emirates.

One of Australia's leading technology manufacturers, ResMed, is warning a bid to reunionise its workforce facilitated by Labor's Fair Work Act could lead it to shift its operations overseas.

Page 3: West Australian Labor leader Mark McGowan has moved to outflank premier Colin Barnett by promising to focus on phonics-based methods for teaching literacy in primary schools if he wins the state election on March 9.

Federal government plans to force multinational companies such as Google and Apple to reveal tax bills vilify business and threaten to stymie foreign investment, tax experts have warned.

Page 4: Wesfarmers chief executive Richard Goyder will head a group of leading businesspeople helping host Australia's presidency of the Group of 20 major world economies next year.

Page 5: Former federal treasurer Peter Costello has warned that the Gillard government risks “killing” superannuation with complexity and compliance costs by unwinding his reforms designed to make the system simpler.

Page 9: The Reserve Bank of Australia may be on a collision course with the Gillard government with a rebounding global economy pointing to an official interest rate rise during the election campaign.

Page 13: Struggling coal miners are hopeful coking coal prices have bottomed, with the quarterly contract price poised to rise for the first time in two years amid stronger Chinese demand and supply constraints from Queensland's wet weather.

Page 15: Fund managers remain wary of potential initial public offerings, even as a strong start for markets this year reignites hopes that some companies will forge ahead with long-awaited listings.

The Mongolian President has called for improved transparency on Rio Tinto's budgeting process for the .2 billion Oyu Tolgoi copper-gold mine, amid complaints about rising costs.

Page 16: Australia's newest petrol and diesel supplier Puma Energy is expected to chase sales in the lucrative mining sector wholesale market after the $625 million-plus acquisition of retailer and distributor Ausfuel.

Australian investors looking to cash in on Chinese growth opportunities have been urged to look beyond Rio Tinto, BHP Billiton and the mining sector, with some analysts suggesting the “golden age” of Australian iron ore exports to china has come and gone.

Iron Ore Holdings has paid $4 million to regain control of its Iron Valley deposit, which had been under option to Fortescue Metals Group, in a move that may lead to faster development of the resource.

 

THE AUSTRALIAN

Page 1: Julia Gillard has demanded unity from her MPs and an end to leaking and criticising the government, as two senior cabinet ministers urged a greater role for Kevin Rudd in the wake of another disastrous opinion poll.

Labor's proposed changes to native title laws have come under an 11th-hour assault from miners, farmers and the resources states, amid concerns they will lead to more legal challenges, higher costs, greater inefficiency and more agricultural land being subject to the laws.

Page 2: Dwindling job advertisements and patchy demand for new homes are unlikely to convince the Reserve Bank to cut interest rates today, when its board meets for the first time this year.

Queensland Premier Campbell Newman has accused the federal government of failing to meet its disaster funding obligations, amid growing concern in local communities they will be hit with bills they cannot pay.

Page 3: Sydney has been confirmed as what we’ve long suspected: one of the most expensive cities in the world.

Page 4: Rail drivers will embark on a 24-hour strike on Friday, escalating a long-running dispute that threatens to delay the delivery of 300,000 tonnes of coal and cost Pacific National Coal millions of dollars in lost revenue.

Julia Gillard’s office is blocking the release under Freedom of Information laws of a raft of documents generated by key staff and other taxpayer-funded officials last year in relation to the Australian Workers Union fraud scandal.

Page 5: On the eve of his first appearance in a Victorian court to answer 149 criminal charges, a defiant Craig Thomson has vowed to see out his parliamentary term.

Julia Gillard’s closest advisers are furious at the way the news of her cabinet reshuffle was spread to her enemies and used against her, but they are dismissing talk of a witch-hunt to find the culprits.

Page 6: West Australian Opposition Leader Mark McGowan says it is unacceptable that up to 25 per cent of the state’s Year 4 schoolchildren have literacy levels below national standards.

Business: Qantas expects a four-step Asian strategy involving rescheduled flights and closer cooperation with partners to accelerate the return of its ailing international operations to profitability.

The competition watchdog has launched a landmark case against Visa for abuse of market power, alleging the credit card provider prevented the expansion of foreign currency exchange services in Australia.
Etihad Airways is poised to launch a new assault on costs with its international equity alliance partners which could lead to a shake-up of parts of the global aviation industry after yesterday reporting an almost trebling of annual net profit to million ($40.3m).

Fairfax Media’s new substantial shareholder, Paul Xiradis, has offered his support for the company’s management for the time being, and given the wider media sector a vote of confidence, saying it is being ‘‘under appreciated by the market’’.

Africa-focused goldminer Resolute Mining has intensified its search for acquisitions as it looks to replace the soon-to-be exhausted Golden Pride mine in Tanzania, managing director Peter Sullivan says.

Aquila Resources will keep its $7.4 billion iron ore project in the Pilbara on a go-slow after failing to agree on a budget with its Asian partner.

Deal activity in the power and renewable energy market is shifting from Europe and North America towards the AsiaPacific, increasing global interest in Australia’s sector.

Retail fund managers have called for high-frequency traders and operators of off-market or ‘‘dark’’ trading venues to be brought into the regulatory net to avoid compromising the integrity of the sharemarket.

Australia's $1.5 trillion (.555 trillion) superannuation fund pool is now the fourth-largest in the world, according to the latest Towers Watson Global Pension Assets study.

The pace of online retail sales growth eased slightly in December as shoppers front-loaded their gift-buying to ensure delivery for Christmas.

The country’s largest owner of industrial property, Goodman Group, will build a further $451 million worth of Australian logistics sheds and business parks for tenants, including Wesfarmers and DHL.

THE SYDNEY MORNING HERALD

Page 1: Eddie Obeid has been grilled on the witness stand at an ICAC inquiry into the opening up of coal mining in the Upper Hunter. Support for Kevin Rudd is growing in Labor ranks, putting him within striking distance for a leadership challenge.

Page 2: Some 50,000 rail commuters were stranded Monday morning as a result of a meltdown on the CityRail network. A court has been told that six young women were forced to work up to 20 hours a day as prostitutes in a Sydney brothel.

Page 3: A coalition plan to block every asylum seeker boat from Sri Lanka may breach international law. Labor has ruled out any short-term comeback by former ALP MP Craig Thomson.

World: India has tightened its laws on sexual assault and trafficking in the wake of the horrific gang rape and murder of a woman on a New Delhi bus.

Business: The RBA's unlikely to pull the trigger on another rate cut despite some recent weak economic data.

Sport: There's a push to replace Rob Horne in the Waratahs Super 15 side with Israel Folau.

THE DAILY TELEGRAPH

Page 1: Eddie Obeid spent hours giving evidence to ICAC on Monday and was played an explosive phone tap that contradicts some of what he said.

Page 2: The odds of an RBA interest rate cut have blown out, according to many economists.

Page 3: More than 100 jobs could be shed at Sydney's childrens' hospitals as management tries to cut costs. Beyonce performed at the Super Bowl half-time show in the US on Monday.

World: A man who held a knife to his throat brought chaos to the streets outside Buckingham Palace.

Business: The superannuation industry is demanding politicians stay away from the nation's $1.5 trillion pension scheme.

Sport: Timana Tahu says he has no regrets about walking out of a NSW Blues camp three years ago after a racist comment was aimed at him.

THE AGE

Page 1: With big infrastructure jobs drying up Victoria is coming to a standstill, with more than 12,000 construction jobs lost and thousands more at risk. Support for Kevin Rudd is growing within the Labor Party putting him within striking distance of Prime Minister Julia Gillard in the event of another challenge.

Page 2: Two Fairfax journalists launch an appeal to prevent them being forced to reveal their sources over the story about alleged bribery in subsidiaries of the Reserve Bank. Witness tells Supreme Court that she was held hostage in a backyard shed with murdered teenager Prue Bird 21 years ago.

Page 3: Senior councillors say they were pressured by Liberal MP Inga Peulich to support her son's mayoral bid. Steve Bracks comes out of the Tasmanian wilderness to dismiss talk of replacing Nicola Roxon in Gellibrand. Gillard government misses UN deadline to grant world heritage protection for the unspoilt Cape York wilderness in north Queensland. A new Melbourne bar will give its profits towards Third World projects. Victoria Police in last-ditch attempt to settle a court case with claims of racial discrimination in incidents with African youths.

World: India has tightened laws on sexual assault and trafficking in the wake of the horrific gang rape and murder of a young medical student in Delhi in December.

Business: Reserve Bank expected to keep rates steady at Tuesday's board meeting.

Sport: Two AFL club bosses - West Coast's Trevor Nisbett and Geelong's Brian Cook - have broken ranks with the majority and confessed they don't want to know if their players are drug offenders with strikes to their names.

THE HERALD SUN

Page 1: Victoria's top cop Ken Lay in a legal fight to stay out of a case alleging racism and violence against African youths by police. Veteran footy broadcaster Sandy Roberts defects from Seven to Fox Footy.

Page 2: Fox Footy poaches Sandy Roberts from Seven where he worked for 34 years. Tania Herman, the woman who choked housewife Maria Korp, has been denied a jail wedding with her lesbian lover.

Page 3: Formula One cars will hit the Great Ocean Road to promote the Melbourne grand prix. Strip club Rhino wins fight to triple its capacity of its King Street abode.

World: Former SEAL and author Chris Kyle and his friend shot dead by as they tried to help their alleged killer who was suffering from post-traumatic stress disorder from his time in Iraq.

Business: Housing build slumps in Victoria as fierce volatility continues to grip the property sector.

Sport: Carlton star Chris Judd delays new contract talks to midway through the season as he contemplates his playing future.

THE CANBERRA TIMES

Page 1: Federal Opposition Leader Tony Abbott backs Senator Gary Humphries in fight against Zed Seselja for the Liberals' ACT Senate preselection.

Page 2: Canberra Airport rebuffs an 11-year-old girl's mission to change its name.

Page 3: Police warn the Narrabundah tyre slasher is back.

World: India tightens its laws on sexual assault and trafficking after the horrific gang rape and murder of a young woman last December.

Business: Central bank tipped to leave its cash rate unchanged at first board meeting of 2013 despite weak economic data.

Sport: Canberra Capitals suspend centre Brigitte Ardossi for rest of WNBL season for unsportsmanlike behaviour after tripping an opponent last Friday.

THE ADELAIDE ADVERTISER

Page 1: Principals have warned of a public education class divide because parents in some affluent areas are paying up to three times more than the average fee.

Page 3: Kane Richardson played club cricket for East Torrens at the weekend, but he was the talk of the town at the Allan Border medal last night after his talents became the target of an extraordinary bidding war.

World: A man arrested after being tasered outside Buckingham Palace as he held a knife to his own neck has been charged with affray and possessing a bladed weapon in public, police say.

Business: Qantas is making major changes in its flights to Asia to make it easier for travellers to connect to onward destinations as it prepares for its deal with Middle Eastern airline Emirates to kick off.

Sport: Nathan van Berlo will be reappointed as Adelaide skipper within days.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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