Barnett tightens Regions cash
Colin Barnett has signalled a tougher approach to vetting Royalties for Regions projects, declaring the “low-hanging fruit” has been picked and he only wants to fund “the real stuff” and not schemes of “lesser value”. The West
Pragmatic BHP not chasing coal bargains despite fire sale
The man in charge of BHP Billiton’s mining operations in Australia has effectively ruled the miner out of the hunt for bargain assets that have been thrown up by the local coal sector’s great fire sale. The Fin
Woodside’s AI surpasses expectation
Woodside Petroleum has expanded its use of IBM’s Watson cognitive computing, which learns on the job, and has upped its focus on digital initiatives as it seeks to drive more value out of systems across its sprawling operations. The Fin
Brace for another $129b in deficits
The resurgent iron ore price is a budgetary fool’s gold that won’t prevent another $129 billion in budget deficits over the next four years, says expert Chris Richardson. The Fin
Explorers hoping to say the L-word
A flood of junior explorers have joined the hunt for lithium, picking up prospective ground and knocking on the doors of other miners in an attempt to join the exuberant market. The Fin
Energy giants target Bight’s $100bn prize
Oil giants BP, Chevron and Statoil are chasing more than $100 billion of potential oil resources in the Great Australian Bight and have told a Senate inquiry that if they are allowed to drill the benefits could match those delivered by the Bass Strait oil and gas fields over the past 40 years. The Aus
The Australian Financial Review
Page 1: The highest-paid Australians are set to receive two income tax cuts in next week’s federal budget, setting the scene for a intense battle with Labor, which believes scarce revenue should be skewed towards boosting services and helping people on lower incomes.
Page 4: The resurgent iron ore price is a budgetary fool’s gold that won’t prevent another $129 billion in budget deficits over the next four years, says expert Chris Richardson.
Superannuation experts say the government should backflip on plans to scrap a tax rebate for low-income earners if it is serious about making the super system fairer and not just about raising revenue.
Page 11: Westpac Group is reviewing commissions paid to mortgage brokers, triggering fears from within the sector that it will use political pressure to improve bank culture as a smokescreen to squeeze broker payments and their rapidly growing market share.
The man in charge of BHP Billiton’s mining operations in Australia has effectively ruled the miner out of the hunt for bargain assets that have been thrown up by the local coal sector’s great fire sale.
Page 16: A flood of junior explorers have joined the hunt for lithium, picking up prospective ground and knocking on the doors of other miners in an attempt to join the exuberant market.
Boards have been put on notice to be more proactive about investigating and reporting allegations of corruption after a former Leighton Holdings executive told a Senate inquiry into foreign bribery that the construction group’s board had ‘‘shut down’’ his investigation.
Page 19: Closely watched Australian telecommunications and advertising technology start-up Unlockd has closed a $15 million funding round, with existing big-name investors pouring more money into the company and two new high-profile investors climbing aboard.
Woodside Petroleum has expanded its use of IBM’s Watson cognitive computing, which learns on the job, and has upped its focus on digital initiatives as it seeks to drive more value out of systems across its sprawling operations.
The Australian
Page 1: Scott Morrison has warned that next Tuesday’s budget will be hit by economic forces beyond the government’s control, as a leading analyst predicts it will show a $16 billion blowout in the deficit.
Page 2: Malcolm Turnbull will use next week’s federal budget to pour billions of dollars into major projects that boost housing supply and expand public transport, aiming to unleash investment in new economic zones in the nation’s cities.
Malcolm Turnbull will make a surprise visit to Adelaide today to announce the winning bid to build the navy’s new submarines.
Page 7: Hundreds of millions in health spending could be reallocated and hospital efficiency improved if governments embraced a program of workforce reform, say experts.
Page 17: Oil giants BP, Chevron and Statoil are chasing more than $100 billion of potential oil resources in the Great Australian Bight and have told a Senate inquiry that if they are allowed to drill the benefits could match those delivered by the Bass Strait oil and gas fields over the past 40 years.
Page 18: Investors and analysts are already grimacing as Woolworths prepares to unveil its third-quarter financial results on May 3 following a strong showing from major competitor Wesfarmers on Thursday.
Page 21: Australia’s resurgent international education sector could be stymied with a shortfall of almost half a million purpose-built beds despite increasing appetite from institutional investors and although supply is forecast to increase 36 per cent by the end of the decade.
The West Australian
Page 8: Discarded Liberal Party MP Dennis Jensen is considering contesting the Federal election as an independent, in a move that would cost taxpayers about $35,000.
Page 10: Colin Barnett has signalled a tougher approach to vetting Royalties for Regions projects, declaring the “low-hanging fruit” has been picked and he only wants to fund “the real stuff” and not schemes of “lesser value”.
Business: Australia’s initial public offers over the past year have easily exceeded the broader market, despite disappointing high-profile misses such as realtor McGrath and WA’s Wellard.
Almost nine out of 10 WA grain growers support a formal review of the structure and governance of CBH, according to the results of an independent survey commissioned by the co-operative.
Environment Minister Albert Jacob has slapped WA’s biggest privately owned coal-fired power plant with an extra licence condition over concerns about toxic sludge.
