Apologies for our error this morning. A technical glitch redirected our morning headlines to an earlier date.
WA turns blowtorch on Rio, BHP
Western Australian Premier Colin Barnett could raise royalty rates on iron ore in response to BHP Billiton and Rio Tinto’s decision to flood global markets with the mineral, a move analysts expect to push prices down further and weaken the state’s already stretched budget. The Fin
NAB under pressure over $1.3b writedown
National Australia Bank chief executive Andrew Thorburn described $1.34 billion in write-downs as a “disappointing result” for investors but the market sent NAB shares higher on Thursday as a discount for past mismanagement gradually unwinds. The Fin
African miners pushed to brink
West Africa’s fledgling iron ore industry has been rocked by the collapse of one of its key players, underscoring the challenge facing Rio Tinto’s huge Simandou development and the ambitions of Perth-based Sundance Resources. The Aus
Welfare card ‘may exploit’
Two of the nation’s largest welfare groups have come out strongly against mining magnate Andrew Forrest’s Healthy Welfare Card, arguing that it will place indigenous people at risk of financial exploitation. The Aus
Panel clears way for Aspen to collect APPF prize
Aspen Group is clear to take control of the $200 million Aspen Parks Property Fund after the Takeovers Panel rejected two challenges by the fund’s spurned South Australian suitor. The West
States push health agenda
The states will push Tony Abbott today to include federal health spending in his major reviews of the federation and the tax system, amid concerns that hospital costs will overwhelm state budgets. The Aus
Uber bans inspectors to flout law: minister
Uber avoids prosecution by banning government compliance officers from using its taxi service, according to Transport Minister Dean Nalder. The West
The Australian Financial Review
Page 1: Western Australian Premier Colin Barnett could raise royalty rates on iron ore in response to BHP Billiton and Rio Tinto’s decision to flood global markets with the mineral, a move analysts expect to push prices down further and weaken the state’s already stretched budget.
Federal Infrastructure Minister Jamie Briggs said Australian National University’s blacklisting of gas producer Santos and six other resource companies was a threat to jobs, increasing pressure on the university to drop its boycott.
Page 3: Finance Minister Mathias Cormann and Clive Palmer have begun secret talks in Queensland as the government seeks to renegotiate the passage of billions of dollars in stalled budget measures and Mr Palmer seeks support for his climate change plans.
Page 4: Australian Competition and Consumer Commission boss Rod Sims has criticised a plan to impose a Reserve Bank style board on the regulator, saying there is no problem to fix.
Page 6: The Australian National University’s carbon emissions are three times the level of other leading universities per student.
Page 7: Tony Abbott has taken the extraordinary step of defending Bill Shorten against an attack from Joe Hockey after the Treasurer questioned the Opposition Leader’s support for the war against Islamic State.
Page 13: National Australia Bank chief executive Andrew Thorburn described $1.34 billion in write-downs as a “disappointing result” for investors but the market sent NAB shares higher on Thursday as a discount for past mismanagement gradually unwinds.
Rio Tinto iron ore boss Andrew Harding launched a passionate defence of the miner’s aggressive production push, saying the strategy is protecting shareholder value by blocking 32 global projects from bringing new iron ore volumes to market.
Page 15: Virgin Australia Holdings will begin reporting quarterly financial data for the first time as a result of major shareholder Singapore Airlines now equity accounting for its stake in the Australian carrier.
Page 16: The online travel agency sector is poised for big consolidation after more than 99 per cent of Wotif.com Holdings’s share register voted to accept a $703 million takeover proposal from US travel giant Expedia.
Page 18: A merger between commodities trader Glencore and mining giant Rio Tinto would likely get the tick of approval from Treasurer Joe Hockey, the Foreign Investment Review Board and the competition regulator, experts say.
Australia’s biggest asset manager believes BHP Billiton and Rio Tinto can still materially grow cash returns to shareholders over the next four to 10 months, despite iron ore prices sliding to five-year lows.
The Australian
Page 1: Dysfunctional government has created a crisis of faith in our political leadership, with federal government now the least-trusted tier of power and more than one in four Australians convinced democracy is not working.
Page 2: The states will push Tony Abbott today to include federal health spending in his major reviews of the federation and the tax system, amid concerns that hospital costs will overwhelm state budgets.
Page 4: The Coalition government is sticking to its promise of creating a million jobs in five years despite jobs numbers showing the labour market is into its third year of weakness.
Page 5: Two of the nation’s largest welfare groups have come out strongly against mining magnate Andrew Forrest’s Healthy Welfare Card, arguing that it will place indigenous people at risk of financial exploitation.
Page 7: A second, confidential letter from trade union royal commissioner Dyson Heydon helped prompt the federal government to broaden his inquiry, The Australian can reveal.
Western Australian Premier Colin Barnett has signalled an overhaul of his government’s health agency Healthway, saying he was “embarrassed” that the state opera company had dumped a planned performance of Carmen because it featured smoking.
Page 19: Westpac chairman Lindsay Maxsted has warned against a narrow focus on bank capital by the financial system inquiry, arguing that the system’s capacity to fund the economy is a “far bigger issue”.
Australia’s struggling coal sector faces further pain after China announced it would reintroduce import tariffs on the bulk commodity.
Page 20: West Africa’s fledgling iron ore industry has been rocked by the collapse of one of its key players, underscoring the challenge facing Rio Tinto’s huge Simandou development and the ambitions of Perth-based Sundance Resources.
NBN Co board director and internet entrepreneur Simon Hackett is shifting his focus from the tech sector and into the resources game after spending $1.5 million to take a quarter stake in the nascent graphite mining operation Oakdale Resources.
Page 29: Jetstar is expected to cut its cabin baggage allowance from 10kg to 7kg as part of a crackdown on oversized bags.
The West Australian
Page 3: A high-tech camera will scan the numberplates of thousands of cars at shopping centres, train stations and on main streets from today as the State Government steps up its crackdown on WA’s worst fine bludgers and attempts to recoup the record $306 million owed by defaulters.
Page 6: Yesterday’s corrective measures were the first of more to come and an inevitable result of years of fiscal ill-discipline, shadow treasurer Ben Wyatt said yesterday.
Page 9: Only 41¢ of every dollar collected by the Federal Government from WA motorists is spent on improving the State’s roads, a financial analysis has revealed.
The independent watchdog overseeing WA’s jails has fired an extraordinary broadside at the State Government, accusing it of leaving the female prison system in crisis.
Page 22: Unemployment is continuing to hover just above 6 per cent, as the Australian Bureau of Statistics admits it has botched official jobs data in recent months because of flawed methodology.
Uber avoids prosecution by banning government compliance officers from using its taxi service, according to Transport Minister Dean Nalder.
Business: Both UGL and Hong Kong’s under-siege political leader have rejected allegations of secrecy or wrongdoing over £4 million ($7.3 million) it paid him as part of a business deal.
Former Federal Labor minister Stephen Smith has taken up an advisory role at EY, the latest in a string of appointments since he retired from politics last year.
Elders boss Mark Allison has assured a who’s who of Australian agriculture that there is plenty of fight left in the company which celebrated its 175th birthday in Adelaide last night.
Aspen Group is clear to take control of the $200 million Aspen Parks Property Fund after the Takeovers Panel rejected two challenges by the fund’s spurned South Australian suitor.
