Woodside drills for value
Woodside Petroleum’s renewed focus on exploration has the potential to add significant value for the company over the next few years, with drilling in Australia to be the focus over the next 12months, according to Deutsche Bank. The Fin
Barriers plan for 22 Perth, South West beaches
Up to 22 WA beaches could be fitted with nets to keep out sharks after a review identified areas along the State’s coast suitable for non-lethal barriers. The West
Exploration crisis could wipe out open-pit mining
Northern Star Resources managing director Bill Beament says the gold industry is facing an “exploration crisis” that could see open-pit gold mining in Western Australia all but wiped out in a decade. The Aus
BHP, FMG win in tugboat dispute
BHP Billiton and Fortescue Metals Group have secured a major victory in their battle to prevent a closure of Port Hedland port after an eleventh hour attempt to block key changes to workplace laws just failed to pass the Senate. The Fin
Budget deficit hits $48.5b
The government has declared a $48.5 billion budget deficit for the last financial year as a “line in the sand” in terms of Labor’s legacy but is hinting there could be roadblocks in achieving its own promise of surplus. The Fin
Axe or reduce penalty rates, say bosses
Three-quarters of WA business believes penalty rates should be axed or substantially reduced, with many expecting the coming year to be a tough one to turn a profit. The West
High-margin days over: BHP
BHP Billiton’s marketing boss has played down suggestions of a big rally in iron ore prices, saying this year’s declines reflect a “rational” market response to the flood of new supply onto the world market. The West
FoFA faces renewed threat
Finance Minister Mathias Cormann is under intense pressure to get new financial advice laws through the Senate after a Senate committee signalled it intends to throw out existing Future of Financial Advice regulations, creating further uncertainty for the industry. The Fin
The Australian Financial Review
Page 1: Federal cabinet is set to approve within days Australian planes and special forces participating in US-led combat missions against terrorist groups inside Iraq.
Page 2: Finance Minister Mathias Cormann is under intense pressure to get new financial advice laws through the Senate after a Senate committee signalled it intends to throw out existing Future of Financial Advice regulations, creating further uncertainty for the industry.
Page 4: BHP Billiton expects its potash, uranium, coking coal and iron ore businesses to benefit from any acceleration in global efforts to tackle climate change, offsetting the hit some commodities are expected to suffer.
Page 5: Employers in the regions will be given access to a pool of refugee labour under a deal between the federal government and mining magnate Clive Palmer, whose Palmer United Party holds the balance of power in the Senate.
Page 6: Investors keen to put their money in property aren’t likely to be deterred by caps on lending or other measures designed to cool housing market activity, experts said.
Page 7: The unemployment rate could double to 12 per cent by 2016 if the Australian dollar does not fall a lot more, says economist Janine Dixon.
Page 9: The government has declared a $48.5 billion budget deficit for the last financial year as a “line in the sand” in terms of Labor’s legacy but is hinting there could be roadblocks in achieving its own promise of surplus.
Page 10: BHP Billiton and Fortescue Metals Group have secured a major victory in their battle to prevent a closure of Port Hedland port after an eleventh hour attempt to block key changes to workplace laws just failed to pass the Senate.
Page 11: The Western Australian government has been criticised for allowing the mining boom to subside before launching its privatisation plans designed to raise several billion dollars.
Page 13: Japanese trading giant Mitsui has warned Australia’s lagging productivity fails to justify its high mining wages, while tipping a modest rebound in heavily depressed iron ore and coal prices by the end of the year.
Page 15: Foxtel has licensed some of its television channels to cut-price internet service provider TPG Telecom, which is set to launch its own premium television service from early next year.
After years of raising prices, Coca-Cola Amatil has taken the first step towards making its iconic soft drink brands more affordable, launching a 250 millilitre can that will cost no more than $2 in convenience stores, petrol outlets and supermarket fridges.
Page 16: Woodside Petroleum’s renewed focus on exploration has the potential to add significant value for the company over the next few years, with drilling in Australia to be the focus over the next 12months, according to Deutsche Bank.
Termite Resources has been sent to its grave after less than four years of digging, a victim of plunging iron ore prices.
Page 18: BHP Billiton has put a freeze on the pay packets of chief executive Andrew Mackenzie and his senior management team in line with widespread cost cutting unfolding across the mining industry.
Page 23: Downer EDI’s fortunes have waxed and waned this year, with the contractor’s stock heading into the end of the year closer to its 12-month lows than 12-month highs.
The Australian
Page 1: Immigration Minister Scott Morrison and Clive Palmer have outflanked Labor and the Greens by reaching a deal to resurrect Howard-era temporary protection visas and introduce a new visa designed to lure refugees to work in regional areas.
Online communication sites including social-media services Twitter and Facebook will be drawn into a planned updated version of the federal government’s anti-terror data-retention push.
Page 3: A federally-led program with the intent of giving no-fault lifetime care to the catastrophically injured is being cobbled together in secret and in the “horrific” belief people should remain on a “bureaucratic drip” for life, a lawyers group says.
Page 3: Work on the $42 billion high-speed National Broadband Network project will start in the NSW Hunter region, covering about 25,000 premises, the first large-scale construction since Bill Morrow was appointed to run NBN Co in December.
Page 19: Lenders have stepped up their opposition to threatened regulatory moves to curb booming housing prices as RBA governor Glenn Stevens defended his backflip over the use of so-called macro prudential tools, saying there was little downside from trying them in the short term.
The financial system inquiry will make recommendations in November to minimise the impact of local bank failure, even though global measures will take years to finalise and implement.
Page 20: BHP Billiton’s assets have already been impacted by climate change and the world’s largest miner supports a global price on carbon to drive technology to reduce emissions.
Page 21: Australia’s largest film exhibitor has welcomed a move to release films at the same time as US theatres, and predicted the initiative would boost box office receipts and the company’s bottom line.
Brickworks boss Lindsay Partridge has thrown his support behind Boral’s chief Mike Kane surrounding his public intolerance towards alleged illegal union tactics.
Page 23: Northern Star Resources managing director Bill Beament says the gold industry is facing an “exploration crisis” that could see open-pit gold mining in Western Australia all but wiped out in a decade.
Hospitals, police stations, schools and ovals are among the 20 assets listed for sale by the Western Australian government to help manage the state’s crippling debt.
Page 29: Australian domestic business travellers are set to become the world’s most pampered as Qantas and Virgin Australia take their battle for corporate market share to new comfort levels.
The West Australian
Page 1: Up to 22 WA beaches could be fitted with nets to keep out sharks after a review identified areas along the State’s coast suitable for non-lethal barriers.
Page 4: Tony Abbott will not formally commit Australian planes and special forces to the war in Iraq until next week at the earliest when he can convene a Cabinet meeting for final consent.
Page 7: The future of the old East Perth power station is up in the air again after it was included among 20 State-owned properties the Government is selling to pay off debt.
Page 9: Western Power says its chief financial officer was given a $51,000 pay rise for an expansion of his responsibilities rather than performance.
Page 10: Thousands of boat people will be cleared from detention centres and allowed to work and access Medicare after Immigration Minister Scott Morrison and Clive Palmer cut a deal to restore temporary protection visas.
Page 17: ID scanners aimed at limiting the alcohol an individual can buy in one day could be in place in Kununurra and Wyndham this year.
Page 29: Three-quarters of WA business believes penalty rates should be axed or substantially reduced, with many expecting the coming year to be a tough one to turn a profit.
Business: BHP Billiton’s marketing boss has played down suggestions of a big rally in iron ore prices, saying this year’s declines reflect a “rational” market response to the flood of new supply onto the world market.
Doom and gloom has engulfed the mining services sector but Barminco boss Peter Stokes says the outlook is not all bad, with some big opportunities emerging in Australia.
WA’s bitter and protracted bricks war has taken some of the gloss off Brickworks’ best outlook for building products in a decade.
There are 365 million reasons why other multinationals could follow Bunge’s lead and build a grain terminal in WA in the wake of the hottest-ever auction for shipping slots at CBH ports.
The competition watchdog has cleared the way for an Asian consortium to buy Goodman Fielder — Australia’s biggest food company and maker of some of the country’s best-known brands.