Mining jobs galore as economy picks up
More than 1600 jobs are up for grabs in the WA resources sector in the latest sign of economic improvement. The West
Unis facing billions in fresh cuts
Universities face billions of dollars in alternative funding cuts in Monday’s mid-year budget update, with the Turnbull government determined to recoup some or all of the $2.8 billion in budget measures which failed to pass the Senate. The Fin
Citic takes fresh swipe at Palmer’s magnetite mine threat
Chinese conglomerate Citic has raised the stakes in its dispute with estranged business partner Clive Palmer, by highlighting the economic benefits at risk if it walks away from Australia’s biggest magnetite mine. The Fin
NBN cuts charges to fix speed complaints
NBN Co has dropped its prices so internet providers can offer faster and more reliable broadband plans to consumers and business after a flood of complaints over poor service. The Fin
ASIC backs Lowe’s warning on bitcoin
The Australian Securities and Investments Commission urged investors not to get ‘‘swept up’’ by hype as the price of the cryptocurrency surged and cautioned against buying something they didn’t understand.
AGL’s Vesey doubles down on Liddell plan as a blueprint to replace coal
AGL Energy chief Andy Vesey says plans released to replace the Liddell coal-fired power station in the Hunter Valley have delivered what Malcolm Turnbull called for, declaring similar schemes are likely to replace the nation’s ageing coal-fired power station fleet. The Aus
Kum lets MMA stake slump
The Singapore billionaire pushing to axe MMA Offshore boss Jeff Weber has seen his stake in the vessel operator slashed after failing to take part in a contentious $97 million equity raising. The West
The Australian Financial Review
Page 1: Universities face billions of dollars in alternative funding cuts in Monday’s mid-year budget update, with the Turnbull government determined to recoup some or all of the $2.8 billion in budget measures which failed to pass the Senate.
Page 3: Superannuation funds are on track to deliver double digit gains in 2017, fuelled by the rally in major sharemarkets and continued strength in infrastructure and property prices.
NBN Co has dropped its prices so internet providers can offer faster and more reliable broadband plans to consumers and business after a flood of complaints over poor service.
Page 8: The Australian Securities and Investments Commission urged investors not to get ‘‘swept up’’ by hype as the price of the cryptocurrency surged and cautioned against buying something they didn’t understand.
Page 9: Energy expert and ZEN Energy president Ross Garnaut said the design of the proposed National Energy Guarantee seemed to try to link the security and reliability objectives of the national power grid to the emissions reductions objectives.
Page 10: The Australian Tax Office potentially forfeited $1.9 billion in 2016-17 by settling disputes out of court but the Australian National Audit Office has given the agency’s processes the tick of approval.
Page 12: The Canadian government is escalating a trade fight with Boeing, ditching plans to buy 18 Super Hornets while launching a search for new fighter jets under parameters that could hamper future bids from the US plane maker.
Page 14: The Murdoch family-led 21st Century Fox is on the cusp of sealing a historic sale of more than $US60 billion of entertainment assets to rival Walt Disney in what would be a significant downsizing of Rupert Murdoch’s global media empire.
Page 18: Chinese conglomerate Citic has raised the stakes in its dispute with estranged business partner Clive Palmer, by highlighting the economic benefits at risk if it walks away from Australia’s biggest magnetite mine.
The Australian
Page 1: National Australia Bank will not finance new thermal coal mine developments under a policy that restricts lending to existing clients and projects that are already operating.
Page 17: Commonwealth Bank has seized on gambling giant Tabcorp’s defence to money-laundering allegations in a bid to slash the penalty it faces in Federal Court proceedings brought in August by the financial intelligence agency Austrac.
AGL Energy chief Andy Vesey says plans released to replace the Liddell coal-fired power station in the Hunter Valley have delivered what Malcolm Turnbull called for, declaring similar schemes are likely to replace the nation’s ageing coal-fired power station fleet.
Mineral Resources appeared to be losing its grip on takeover target AWE yesterday, with predictions further share price falls would bring its offer back to a level similar to a Chinese bid.
Page 21: The prudential regulator will publish data revealing how superannuation funds spend member savings on controversial advertising and investments, and how fee revenue charged to members is translated into profit and dividends paid back to large wealth managers and banks.
Page 22: Facebook plans to book more revenue in the countries where it sells ads, becoming the latest US tech giant to bow to pressure from foreign governments to simplify its tax structure and potentially pay more tax overseas.
The West Australian
Page 3: More than 1600 jobs are up for grabs in the WA resources sector in the latest sign of economic improvement.
Page 10: Power, water and gas customers who fall behind with their bills could be required to go on payment plans before they are eligible for direct grants after a blowout in costs for WA’s hardship scheme.
Page 13: WA Liberals are scrambling to lock in potential candidates for the blue-ribbon seat of Cottesloe amid expectations Colin Barnett could resign within days.
Business: The Singapore billionaire pushing to axe MMA Offshore boss Jeff Weber has seen his stake in the vessel operator slashed after failing to take part in a contentious $97 million equity raising.
Investors have taken in their stride news that Pilbara Minerals will spend an extra $50 million bringing its Pilgangoora lithium-tantalum project into production.
Iluka Resources has approved plans for a $275 million mineral sands project at Cataby, north of Perth, after locking in customers for 85 per cent of production from the mine.
Recent tensions between Australia and China have not deterred CITIC Pacific Mining from pushing the button on a new public relations campaign aimed at highlighting the value of its Sino Iron project to WA.
Job cuts in the Department of Primary Industries and Regional Development will focus on slashing corporate services, and more staff will be located in the regions, Agriculture and Regional Development Minister Alannah MacTiernan says.
Mincor Resources will undertake its first capital raising in 15 years as it repositions itself to capitalise on a more buoyant outlook for nickel.
