Optus in plan to axe 1000 workers
Telco Optus has drawn up plans to slash 10 per cent of its workforce — about 1000 jobs — and cut costs by more than $200 million to protect its profits after embarking on an ambitious strategy of buying up expensive sports media rights. The Aus
Grylls’ comeback
WA Nationals leader Terry Redman says he will ask Colin Barnett for a fourth Cabinet position when the pair discuss portfolios ahead of the Premier’s upcoming frontbench reshuffle. The West
Mad Max cleans up on Hollywood’s night of nights
Director George Miller may have missed out, but Mad Max: Fury Road won six Oscars at the 88th Academy Awards — the most for an Australian film ever — including the gong for editing by his wife, Margaret Sixel. The Fin
Miners forecast to dig deep for a while yet
South32 chief executive Graham Kerr is tipping at least another six months of commodity price pain before financially distressed mines are for sale. The Fin
Murray Goulburn under pressure to cut milk price
Australian dairy farmers have been dealt a financial blow after the nation’s largest dairy processor, Murray Goulburn, conceded it would not be able to raise farmgate milk prices this year as hoped. The Aus
Claims add fuel to export ban case
A leading animal welfare campaigner has reopened old wounds over the ban on live cattle shipments to Indonesia in an explosive new book. The West
The Australian Financial Review
Page 1: Slater & Gordon’s banks have given the world’s first listed law firm just two months to come up with a plan to avoid bankruptcy after it wiped out a decade of profits in six months.
Page 3: Maritime Union of Australia members gave in-principle support for a merger with the construction union, while employers fearful of a mega-union said union amalgamations should be subject to a legal public-interest test.
Page 6: Treasury secretary John Fraser has swung his weight behind the concept of directly charging motorists for the miles they drive, declaring it an inevitable solution as governments seek more stable and fairer ways of funding roads, bridges and tunnels.
Deputy Prime Minister Barnaby Joyce is set to argue that Australian super funds need to increase their agricultural investments because they are ‘‘outperforming’’ iron ore and coal in the nation’s economic transition.
Page 7: Director George Miller may have missed out, but Mad Max: Fury Road won six Oscars at the 88th Academy Awards — the most for an Australian film ever — including the gong for editing by his wife, Margaret Sixel.
Page 13: South32 chief executive Graham Kerr is tipping at least another six months of commodity price pain before financially distressed mines are for sale.
Page 15: Woolworths’ discount department store chain BIG W is expected to dip into the red or barely break even in the June half as the weaker Australian dollar crunches already weak margins.
Page 18: Troubled transport group McAleese has flagged a potential equity raising, after it suspended trading in its shares and deferred the release of its interim financial results.
Page 19: Qantas Airways will reap the benefits of its dramatic financial turnaround in the form of a lower interest bill, after Moody’s restored the airline’s investment grade credit rating.
Recall Holdings chief executive Doug Pertz is confident a $3.4 billion takeover from US rival Iron Mountain will proceed, despite the company delaying a shareholder vote on the deal.
Page 24: Australian consumers will soon be able to use smartphone apps to get timely and officially credible information on where to buy lowest priced petrol.
The Australian
Page 1: Telco Optus has drawn up plans to slash 10 per cent of its workforce — about 1000 jobs — and cut costs by more than $200 million to protect its profits after embarking on an ambitious strategy of buying up expensive sports media rights.
Page 3: Federal government agency Austrade handed out almost $12 million in bonuses to its employees — mainly those on international postings — in the seven years to 2014, before quietly axing the scheme.
Page 19: Australian dairy farmers have been dealt a financial blow after the nation’s largest dairy processor, Murray Goulburn, conceded it would not be able to raise farmgate milk prices this year as hoped.
Page 28: Gadgets rained from the skies at this year’s Mobile World Congress at Barcelona as the annual tech congress — traditionally the domain of telecommunications companies and mobile phones — gave way to the weird and the wonderful.
The West Australian
Page 3: Police Minister Liza Harvey has sent her strongest public message to Commissioner Karl O’Callaghan over Perth’s rising crime rate, declaring citizens were not prepared to accept it as “a new normal”.
Page 11: The Water Corporation will reap just $2 million from the sale of its construction and engineering arm, prompting the State Opposition to claim it was a bad deal for taxpayers.
Page 12: Two internal reviews have advised Labor leader Bill Shorten and his leadership team that proposed reforms to Senate election rules would increase the chances of a coalition majority in the Senate.
Page 16: It may come as a surprise that it has never been cheaper to fly, but the real surprise is that it is often the premium airlines that offer the lowest fares and best value.
Page 17: WA Nationals leader Terry Redman says he will ask Colin Barnett for a fourth Cabinet position when the pair discuss portfolios ahead of the Premier’s upcoming frontbench reshuffle.
Business: Livestock exporter Wellard Ltd has defended its disclosure practices after a profit downgrade sent its shares plummeting.
A leading animal welfare campaigner has reopened old wounds over the ban on live cattle shipments to Indonesia in an explosive new book.
WA’s once-booming nickel industry is a shadow of its former self and explorers have put their cues in the rack.
