Rinehart ‘changed history to steal from kids’
Gina Rinehart has been accused of changing her story behind the discovery of the multi-billion-dollar Roy Hill tenement, with lawyers for her two eldest children producing evidence her father Lang Hancock applied to explore the area a year before he died. The Aus
Mona off to court in Wiggins coal war
An exasperated Monadelphous Group has taken legal action against a client for the first time in 25 years to try to recoup more than $200 million from the owners of the Wiggins Island coal terminal in Queensland. The West
Risk to sports at new stadium
The Barnett Government has refused to guarantee football and cricket that they will be no worse off financially by moving to the new $1.4 billion Burswood stadium. The West
Metcash sinks auto sale proceeds into groceries
Metcash chief executive Ian Morrice says a five-year plan to restore growth by cutting grocery prices and refurbishing stores is gaining traction with consumers but profits are expected to fall this year and a rebound in 2017 will depend on a price war between the major supermarket chains. The Fin
Job vacancies dry up in WA mining
Mining jobs in Western Australia have hit a new low, according to the latest data, as the slowdown in the resources sector continues to hit the state. The Aus
Arrium may sell assets to reduce $1.8b debt
Steel and mining group Arrium, which was previously called OneSteel, may have to sell assets to reduce around $1.8 billion in debt. The Fin
Nahan says FoI appeal expense justified
Treasurer Mike Nahan has defended the use of public money on a Supreme Court challenge to the Information Commissioner, saying it was important for ministers to be able to correspond confidentially before elections. The West
The Australian Financial Review
Page 1: Rupert Murdoch’s international media conglomerate, News Corp, will tighten its grip around Ten Network Holdings through the long-awaited sale of 15 per cent of the broadcaster to Foxtel, which will take control of the network’s advertising business.
Analysis: TPG Telecom’s reclusive executive chairman David Teoh’s attempt to scuttle the $1.2 billion merger of Amcom Telecommunications and Vocus Communications failed yesterday because of a rare miscalculation about the power of individual shareholders.
Page 3: A sharp drop in available land as a dwelling construction boom accelerates could add to a risky spike in property prices, said Reserve Bank of Australia assistant governor Christopher Kent.
A lawyer for Gina Rinehart’s children John Hancock and Bianca Rinehart accused the mining billionaire of ‘‘stealing from her children’’ and attempting to conceal what she did.
Page 4: The federal government believes it can make a big difference to the economic development of northern Australia by spending a relatively little amount of money on small road and water projects.
Page 6: Biotechnology company CSL says it might have built its newest manufacturing plant in Australia instead of Switzerland had the company tax rate here been lower.
Page 8: Amcom Telecommunications and Vocus Communications are preparing their legal teams to fight TPG Telecom through the Western Australian courts after shareholders voted for their $1.2 billion merger.
Page 11: Alibaba is planning to build China’s version of Netflix and HBO via a new service called Tmall Box Office, as it tries to service 600 million families craving more entertainment content.
Page 13: Metcash chief executive Ian Morrice says a five-year plan to restore growth by cutting grocery prices and refurbishing stores is gaining traction with consumers but profits are expected to fall this year and a rebound in 2017 will depend on a price war between the major supermarket chains.
Board members of failed broking firm BBY, including Glenn and Ken Rosewall, may be forced under civil penalty orders to repay funds as regulators scour through an explosive administrator’s report to ascertain whether charges or penalties should be imposed.
Steel and mining group Arrium, which was previously called OneSteel, may have to sell assets to reduce around $1.8 billion in debt.
Page 23: The increasing preference for Australian businesses to have their IT infrastructure hosted in the cloud has pushed the value of the Australian infrastructure as a service (IaaS) market to more than $360 million, and it is expected to soar to almost $900 million by 2020.
The Australian
Page 1: Barnaby Joyce supports banning all foreign governments and foreign state-owned companies from buying Australian farmland, saying such acquisitions could “undermine the national interest”.
Page 5: Gina Rinehart has been accused of changing her story behind the discovery of the multi-billion-dollar Roy Hill tenement, with lawyers for her two eldest children producing evidence her father Lang Hancock applied to explore the area a year before he died.
Page 6: Labor and the Greens have passed up a chance to stall the federal government’s $2.4 billion pension reform in a step that could clear the way for a deal to tighten access to the payments.
Page 19: AMP chief executive Craig Meller has backed calls for a cap of about $2.5 million on tax-free superannuation savings.
Page 20: Mining jobs in Western Australia have hit a new low, according to the latest data, as the slowdown in the resources sector continues to hit the state.
Page 23: Michael Smith, chairman of takeover target iiNet, is hoping the enthusiasm shown by Amcom shareholders in sealing the $1.2 billion deal with Vocus is replicated when iiNet’s shareholders decide the company’s fate on July 27.
The West Australian
Page 3: One in five kindergarten classes in public schools is bigger than the maximum limit, fresh Education Department figures reveal.
Page 10: Corrective Services Minister Joe Francis is considering a new model for WA’s next jail that would involve the private sector building, owning and operating it, as well as transferring prisoners.
Page 11: The Barnett Government has refused to guarantee football and cricket that they will be no worse off financially by moving to the new $1.4 billion Burswood stadium.
Page 13: Treasurer Mike Nahan has defended the use of public money on a Supreme Court challenge to the Information Commissioner, saying it was important for ministers to be able to correspond confidentially before elections.
Page 14: State-owned electricity provider Synergy wants to sell solar panels to households in a bid to tap into the booming market and stem its haemorrhaging because of technology.
Business: An exasperated Monadelphous Group has taken legal action against a client for the first time in 25 years to try to recoup more than $200 million from the owners of the Wiggins Island coal terminal in Queensland.
WA’s environmental watchdog has flagged overstocking concerns about a leading egg producer’s move to double the size of its operations in the Shire of Gingin.
Venturex Resources says a $14 million deal to sell its Pilbara copper, silver and zinc project has collapsed after would-be buyer Orion Mine Finance pulled out of the transaction.
Panoramic Resources shares rose yesterday after the company announced more high-grade hits from the emerging Lower Schmitz deposit at its Lanfranchi nickel mine near Kambalda.