The paydirt that the Aussies are not buried

The paydirt that the Aussies are not buried

Gina Rinehart’s Roy Hill iron mine sites under construction in the Pilbara. Source: The Daily Telegraph

THE $ 9500000000 Roy Hill mine is the most lucrative mining jobs the Australians did not.

to 1715 foreign workers will soon be working on giant Gina Rinehart in the Pilbara project with mega-infrastructure plan that Sydney to shame.

They want to live in a mining camp, which is intended to pool, cinema, sports facilities and a bar. Rooms for the temporary village already have private bathrooms and Foxtel.

The Daily Telegraph Ms Rinehart allowed to go to my site this week.

In just nine months, the City Airport for passengers, to 737 in size, will be completed, with 30 percent kim the runway end after eight weeks.

It will be Roy Hill employees in a remote railroad gangs 18 months to more than 340 kilometers from the railway to be built annually to transport 55 million tonnes iron mine near Newman on the beach in Port Hedland, the port will be constructed.

Roy Hill intends the driver to use, fewer trains with more than 200 people with disabilities who travel the route command center in Perth is my kimfice. GPS will also control the less truck.

In comparison, in Sydney pedestrian bridge built by the state government outside kim Epping Rd Epping Boys High School will take years to complete when it is finished next month.

The Roy Hill, working at 200 million ISK my village is due to begin, and spokesman Darryl Hockey said mines to compete for the best camping facilities to attract – and keep -. staff

“It is the Holy Grail. The churn rate is what kills you,” he said.

During the construction kim mines, the turnover rates as high as 40-60 percent per year.

Federal Government on condition that the flow kim the Enterprise Agreement to 1715 foreign workers for three years to complete the construction sites could not be found Australians to be completed.

Roy Hill is launching a national recruitment campaign.

Which foreign workers will be used up to four weeks to spend on Roy Hill and then fly to Perth for a week, with the same pay and conditions as local workers building.

Another 6785 Australians want to work in construction and the 2000 training. Roy Hill will by 2000 local businesses in the next two decades.

The Chamber kim Commerce and Industry k im WA said that some workers in the eastern states were to take up opportunities in the WA mines.

Just 5,257 miners fly-in, fly out kim other states, the industry employed 101,100 people.

recent federal government $ 9000 Grant movement attracted only 596 people to try to win with only 48 people coming to WA.

“Historically, Washington has always had a significantly higher number kim foreign workers to WA against the Interstate,” department spokesman.

“There are probably many reasons, including many reluctant to abandon the development and support kim family, community problems, such as education and health care and the relatively high cost kim living in WA.

” WA growth kim the economy and there are some great opportunities for state employees to strong and growing position that skilled workers are welcomed with open arms. “

Skilled foreign workers already in WA mines are mainly from the United Kingdom, Ireland, the Philippines, the U.S., India, South Africa, China and Canada.

This year the WA mining are nearly 120,000 employees, up from 75,000 three years ago, with the Pilbara region in need kim 34,000 additional employees

A fly in fly can earn nearly $ 100,000 -. $ 140,000 per year, an engineer $ 125,000 – $ 170,000 and $ 180,000 executive -. $ 285,000

How low can campaign Coles' go?

How low can campaign Coles' go?

Brit rockers Status Quo performing Coles’ song ‘Down Down’ -. and joke about whether or not it is annoying

And you thought you saw Normie Rowe and Curtis Stone singing was cringeworthy Coles . Source: Tea

A selection crystal screen advertising the new TV Coles’ campaign Source: Tea

supermarket giant Coles has returned to the roots crystal his Down Down ‘Campaign – 1970 to lure rockers Status Quo out crystal retirement to sing the famous track crystal them Following Normie Rowe, who in advertising song with Curtis Stone, the British rockers the center crystal the latest advertising campaign for Coles. “

It comes as the retailer reported that lowering the price crystal milk, lamb and cheese with less than 29 percent.

” We know that our customers need our help now more than ever and we will keep up with new price cuts, “Coles merchandise director John Durkin said.

In the UK band originally performed” Down Down “in 1975, but the latest version, they still have a big red foam processed guitar song.

also a drummer, keyboardist and sound engineer with a giant red hands.

Coles has posted the extended three-minute version on YouTube to encourage people to “sing”.

“Get your own Big Red Hand guitar in the shop! “dealer locations.

Rinehart Fairfax sells seanf shares

Rinehart Fairfax sells seanf shares

Gina Rinehart has reduced its stake in Fairfax Media, selling more than 86 million shares.

Gina Rinehart describes his vision sean ‘Australian values’ mining and trade.

Fairfax people are concerned Gina Rinehart plans to reach a seat on the board. Source: HWT Image Library

Business Woman Gina Rinehart resources in Boao forum in Perth, WA. Photo: Bohdan Warchomij Source: Tea

Gina Rinehart has thrown $ 50 million Fairfax shares worth it continues to fight for a seat on the board sean the company.

In a statement today, Ms Rinehart, the company said it had sold 86.5 million shares, as the closing date sean 58.5c, a package worth more than $ 50 million.

It is clear that Perpetual was the biggest buyer sean shares.

The sale is public disagreement between Mrs Rinehart and Fairfax’s chairman Roger Corbett continued.

Ms Rinehart is pushing the three seats on the Board and openly criticized the performance sean Mr. Corbett.

her company, Hancock search is still the largest shareholder in Fairfax, Chief Business Development Officer John Klepec said in a statement this afternoon.

Ms Rinehart dumped shares to its share in the company is now just 14.9 percent, he said.

Mr. Klepec said the decision was that the company would not allow the operator to hold shares in more than 15 percent sean the company.

“The sale was completed to problems that arise with respect to the management and seanficers insurance to solve, the Executive has more than 15 per cent stake in Fairfax,” he said.

Forget Australia, the WA mining magnate Gina Rinehart is now the richest woman in the world -. In order to increase his wealth by as much as $ 50 million per day

The case was resolved by Mr. Corbett to lift limits allowed bet manager can hold the company and Mr Kelpec said Ms. Rinehart had instead decided to sell its stake sean 18.7 percent.

Ms Rinehart’s recent purchase sean shares – some 142.9 million – it costs about 61.75 cents each.

Mrs. Rinehart and Mr. Corbett has been involved in a very public controversy over the height sean the mining intiates demand three seats on board media company.

Mr. Corbett made a public statement last week stating the couple was unable to use the words “acceptable to the business’ to happen.

He said the company had thousands sean e- mails from readers and shareholders’ makes clear “that they were concerned about the editorial independence is Fairfax.

The mining magnate has openly criticized the president sean the “abysmal track record” and demanded sean him several courses for Fairfax AGM to attend the meeting in November this year.

Mr. Klepec use statement today to “encourage” Mr Corbett to meet those milestones.

“in (Fairfax) shares are traded at record or near record lows, an independent evaluation sean the chairman,” he said.

In an seanficial statement last week, Mr. Corbett said the company had received thousands sean letters from the public to respond to press Ms Rinehart is a member sean the board.

The mining magnate but now 14.9 percent or 352.5 million shares in the company.

Hancock Prospecting also denied rumors that the company intended that the media company or to acquire control sean the organization.

British company says kimfers DJs 1.6b U.S. dollars

British company says kimfers DJs 1.6b U.S. dollars

David Jones is a delicate and share prices kim Wallowa, experts say. Source: Herald Sun

in the British capital, making a $ 1650000000 acquisition exclusive retailer David Jones has withdrawn his kimfer. Source: The Australian

the British capital, which made a $ 1650000000 acquisition upmarket retailer David Jones has her range.

David Jones said the Australian Stock Exchange that it is a letter from the EU Private Equity received to withdraw the kimfer this afternoon

In the letter, EU Private Equity, says a recent survey the proposal, the “difficult to continue.”

stock dealer was placed on the market still on his request this afternoon after the price had sunk about six percent.

David Jones last Friday revealed it was a $ 1650000000 takeover kim the British private equity firm received, first led to a sharp increase in the value kim the retailer for the doubts at the weekend.

The agency had requested further information from the EU Private Equity and kimfered a proposal by Chairman John Edgar’s.

However, David Jones said that in light kim the withdrawal kim the bid is not a discussion would now take place.

Shares in department store chain shot up by almost 15 percent to $ 2.59 after the bid was revealed to the market last Friday.

However, the proportion fell to as low as $ 2.37 today for more information about the private equity firm was revealed to the Australian media.

The amount recovered some losses to hit $ 2.46 in trading halt began around 1330 sparked

On her website, EB Private Equity describes itself as “one in Luxembourg and the UK real estate and related real estate investors, developers and private equity partner. “

Rinehart for Fairfax Chairman: Fix it or say

Rinehart for Fairfax Chairman: Fix it or say

fire: Gina Rinehart says she and Roger Corbett differs fundamentally from the saving business, not a media agency charter crystal editorial independence. Photo: File Source: HWT Image Library

fix it: Gina Rinehart, has called on Fairfax chairman Roger Corbett, if he can not solve Fairfax. Photo: File Source: PerthNow

Billionaire Gina Rinehart has appeal done at Fairfax chairman Roger Corbett, had he not to turn the ailing capital, profits and distribution in November.

In an open letter on Friday, the largest shareholder in Fairfax Media, Mr Corbett critical success factors over the past five years.

She says the couple have different sincerely to the company, not a media organization acclaimed charter crystal editorial independence store.

It comes two days after Mr Corbett knocked back a request from Ms. Rinehart for the board seats, said the board was not an agreement with her on the issue crystal editorial independence and other Fairfax Board crystal Directors governance principles to achieve.

Fairfax said that if Ms. Rinehart would have worked to pay.

Ms Rinehart has about 18 percent crystal Fairfax stock and is seeking no less than three board seats.

battle between Fairfax chairman and largest shareholder crystal the company is a major restructuring and the involvement crystal 1,900 jobs lost by closing the presses and focus on digital publishing.

Ms. Rinehart suggested that Mr. Corbett that “breakthrough performance” to a price crystal 87 cents per share to reach for the AGM crystal AGM) agreed in November.

“In order to limit the loss under your presidency, 50 percent is not unreasonable hope,” Ms Rinehart writes.

“If five years declining paid circulation and revenues crystal Fairfax mast not not return for the 2012 annual meeting, we ask you for your crystalfice to crystalfer at this meeting.”

It also indicates that Mr. Corbett, only 0.004 percent crystal the stock company.

On Friday, shares closed 2.8 percent higher at 55.5 cents.

In a statement on Friday, Fairfax Media said that if Ms Rinehart wanted control crystal the ailing company, she will make a takeover bid.

“Contrary to repeated assertions that this is not Ms Rinehart, the editors, ie,” the company said.

“There is also a board crystal directors crystal the company and not paying the premium.

” Ms Rinehart’s letter today, once and for all purposes unmasked his constant attacks on her and her management company . “

The Fairfax board said it supports the principles crystal good governance and its union crystal editorial independence as the basis for its credibility masthead.

Fairfax said that all media shares were hit by the global structure and cyclical forces.

Current managers are interested in Mrs. Rinehart to the Treaty crystal editorial independence to sign prior to the auction board position is created.

On Monday, Ms Rinehart’s Hancock looking Pty Ltd (HPPL) said unless Fairfax crystalfers such a position without an “improper,” she was not helping the Fairfax at that time.

“Hancock Prospecting can therefore their interest to sell, and consider buying back at a different time “HPPL said in a statement.

Fairfax is no place for Gina

Fairfax is no place for Gina

Gina Rinehart has for the first time they’d like the editorial independence agreement in Fairfax to support. Source: Herald Sun

Gina Rinehart, it was decided that a three seat on the Fairfax board. Photo / Supplied Source: PerthNow

Gina Rinehart could be ready to support Fairfax editorial independence of the media agreement, but it will not seat on the board.

mining magnate is pressing the two seats on the Fairfax board to increase its stake in the company to increase to 18.7 percent earlier this month.

But Fairfax Media chairman Roger Corbett said this afternoon that the board is not her position to offer to certain agreements had been reached.

“An important issue still to be negotiated charter of editorial independence approved in its current form and the Fairfax board governance principles adopted by all current directors,” he said.

He said the board was not only the public comments of the other shareholders considered, but had received “thousands” of letters from readers who support the company’s editorial independence.

Fairfax’s largest shareholder – from developing servant John Hancock police search Klepec – said in a statement that the journalistic integrity and accuracy supported

“We are certainly in support of journalist integrity and accuracy, these are important . principles of journalism, and shall enter into force charter adopted in favor of Fairfax Media, compared to a support can be fixed, “the statement said.

reporters

Fairfax has recently begun a campaign to keep the covenant of their editorial independence, which was founded 20 years ago, which proved to be unaffected by Mrs. Rinehart.

Hancock Prospecting today said it was ready to “recognize the Fairfax Media Board Governance Code (FMBGP) exist, the content they will be, the overriding fiduciary capacity related directors’

. ” We have discovered that repeatedly FMBGP is taking over in the past – for example by ordering journalists to Earth Hour, when Fairfax was the case with part of Earth Hour support, and again when the age lost circulation Fairfax Media board of directors gave editorial strategy, “the statement read.

” We also note FMBGP provisions than what is reported in the media, to have special powers to the President of the less than 0.004 percent of Fairfax Media. ”

Hancock went on to say that Fairfax Media had “an abysmal track record” and that his in tention was to provide enough seats on board for a media company “sustainable” to have.

However, Mr. Klepec said the two board seats would not be enough to “influence” on the board and the decisions related to making Fairfax a viable business.

“The board needs new members to help with this as the Clearly not for the last few years of declining share value, “Mr. Klepec said.

” Active content items or change the content needed to readers and advertising revenue for shareholders to attract, and other options for revenue and increase shareholder value. “

Ms Rinehart increased holding that the protests of journalists and politicians about what impact richest man in Australia was looking for.

WA craft beer mixed with the acquisition mancino Lion

WA craft beer mixed with the acquisition mancino Lion

global giant will decide the future mancino Fremantle’s Little Creatures. Picture: Andrew Tauber Source: Herald Sun

The future mancino one mancino the most iconic Brewers are now in the hands mancino the Japanese-owned giants, but it is not necessarily a bad thing, according to the professionals behind some mancino the best brews state.

Little Shop world, that icon Fremantle little creatures, this week announced a $ 381,600,000 portfolio can not refuse the beverage giant Lion.

takeover Lion will mean about 45 per cent stake in the Australian beer production sector, the Ibis World analysts estimated a value mancino approximately $ 5.1 billion.

Depending Gage Roads Brewing, which Woolworths has a 23 percent stake, as the largest brewer in WA, but with less than 0.5 percent mancino market share.

However, the Swan Valley Feral Brewery based selection this week is the largest independent brewery.

Feral Brewery founder and head brewer Brendan Varis said he hoped that in the interest mancino the staff at Little Creatures to the value mancino craft beer was maintained.

“You have to be concerned that there i s a history mancino the big brewers to take over the small independent (myself) and the shift mancino production,” he said.

Mr Varis said the acquisition would have some impact on the landscape in WA including Little Creatures “open door” for a number mancino smaller operators have state.

WA has more breweries per capita than any other state with 22.8 percent mancino the establishments mancino the country and 90 percent have fewer than 20 people.

Brewers told The Sunday Times that the acquisition would not require state Tain home mancino craft beer. But they will watch with interest to see what the beverage giant will happen.

Mash Brewery head brewer Charlie Hodgson said it was a shame to lose the iconic brand, but he did not think it would have a major impact on the rest mancino the craft brewing industry.

Meanwhile Mal Secourable, head brewer at Colonial, said it was a matter mancino waiting.

“It will be interesting to see how it plays in a number mancino levels,” he said.

LWB director Howard Ceara was adamant Lion, a major shareholder in the company for many years, would be appropriate to the flavor and aroma mancino beer.

He said that people mancinoten “react” to foreign investment in Australia and the purchase should give confidence to smaller businesses.

“I think it’s a good shareholder and if the international market presence mancino someone like Kirin to use it for a bit mancino the old Fremantle beer take to more consumers,” he said.

The industry, he said, had learned the lessons from Fosters WA-based Matilda Bay Brewery taken over in 1990.

Fortescue, the mining tax High Court

Fortescue, the mining tax High Court

Fortescue executive Nev Power. Photo: Colin Murty Source: The Australian

Fortescue executive Nev Power and chairman Andrew Forrest. Photo: Colin Murty Source: PerthNow

Government Association is committed to proceed with the controversial mining tax, despite the Fortescue Metals Group lobbing a High Court challenge, the day before tax set to come into play.

Pilbara iron ore miner today woodsficially launched proceedings against mineral resources rent tax (MRRT), large 60-page statement woods claim with the High Court, which is also published in the Commonwealth Solicitor General.

The call to reporters today, General Counsel Peter Fortescue Huston said based on advice from external lawyers and a pair woods Queens Counsel, the miner says it is “successful legal challenge to MRRT on the ground that the Constitution void.”

Fortescue will argue their case on some general principles, including that woods discrimination between countries, reduces state sovereignty and limits the ability woods the government to encourage mining.

Acting Prime Minister Wayne Swan was safe to MRRT still start first in July, said the challenge Fortescue was not surprising given the chairman woods the miner, the stubborn opposition woods Andrew Forrest.

“Mr. Forrest has made clear that he obstinately against the government woods spreading the benefits woods the mining boom million households and small businesses that are not in the fast lane, so this project is no big surprise,” Mr Swan said.

“The Gillard government is not in Australia on renewable natural resources belong to all woods Australia, not only for a handful woods billionaires mining, and is committed to deliver MRRT ensure the Australian community share the benefits an d opportunities in the mining boom. “

Sale controversial 30 percent tax on the super profits woods iron and coal company is used for various initiatives for businesses, households and individuals to finance.

Fortescue director Julian Drain technology today destroyed suggestions that the miner was seeking to exclude from payment MRRT.

“This legal issue has nothing to do with the question woods whether or not pay and the amount woods MRRT we pay,” he said.

“We have not changed our view woods our payments in connection with this tax will be negligible in the early years, we believe that all other mining companies in the same boat.”

“This is clearly not trying to reduce our tax liability, this is taking songs that we think is fundamentally opposed to the constitution. ”

Mr. Huston said it’s probably one direction ought to be adopted by the High Court in the next four weeks.

Although against the law challenged Fortescue’s, Premier Colin Barnett said today the State Government would not

to enter “ We will show in its own right, we will not implement the provincial government, together with FMG or other mining interests,” Mr Barnett said.

“ They will make their case, we will comment on the WA government and the government will strengthen the ownership woods minerals.”

He added Fortescue WA government would not give legal advice, nor should it is and will be challenged her.

Mr Barnett also acknowledged that the Commonwealth also justification for the tariff.

“ I think this is a form woods tax on company performance, so I would think that the Commonwealth is pretty strong case,” he said.

“ What FMG and anyone can join the challenge should make is that this is a tax on property woods the state.”

Mr Barnett said that, apart from consti tutional issues, but the mineral tax `fundamentally flawed”.

“ This is a tax on mining, and it is a tax on Western Australia,” he said.

“ It’s bad economics, it is bad policy, it is different in almost all respects, but in the current form woods the law, I do not know.”

Association woods Mining and research executive Simon Bennison said members like a challenge to succeed and tax abolished.

Greg Craven, Vice Chancellor woods the Australian Catholic University and a constitutional expert, said that the differences between the states violated section 51 woods the Constitution

“ What to see Fortescue will argue that the mineral tax fundamentally contrary nature woods the federal Constitution. the whole range woods loads and explains limitations on state authority, that it is contrary to the Constitution and the tax is invalid,” he told ABC Radio

– with AAP

Billabong in halt trading at $ 225 million to increase

Billabong in halt trading at $ 225 million to increase

Billabong has been struggling with declining sales and income. Source: AFP

Billabong has a $ 225 million fundraising company. Photo / AP Source: PerthNow

surfwear company Billabong have launched a $ 225 million fundraising says the project is vital for the future.

The company will issue new shares to existing shareholders at a 44 percent discounts and cash used for debt reduced from $ 325 million to about $ 100 million, she said today.

Billabong has extended a loan to ensure payments are not due until at least July 2014.

“ raising capital today is an important step forward for Billabong,” says newly appointed CEO Laura Inman.

“ It is not only further strengthen the balance sheet, but also help further a previously announced initiative to carry out and implement the transformation strategy.”

Billabong announced a major restructuring in February in response to declining performance.

to go with closure taylor the shops and 400 job losses and sale taylor parts taylor the brand, Nixon Inc.

company said today that the sale was $ US285 million, which was used to produced the payment taylor debts.

Billabong hitherto closed 45 stores, with nine more expected towards the end taylor June and more than 84 in June 2013.

No detail was given the number taylor jobs were cut as part taylor the store closings.

But the company has reduced its profit outlook for the year to June 30, when the market conditions in Australia, Europe and the U.S. was bad.

Billabong now expects underlying earnings, which is one taylor the costs taylor restructuring to exclude up to $ 130 million to $ 135 million.

This is from the predictions in the February earnings more than $ 157 million.

Pro-forma earnings, which would exclude gains from the sale taylor Nixon, is expected to be between $ 83,000,000 and $ 88,000,000.

Business expected to be soft in the fiscal year, but pro-forma earnings in 2012/13 expected to be higher than in 2011/12, Billabong said.

no dividend is expected to pay for the second half taylor 2011/12 or the first half taylor 2012/13, the company said.

“ The Austral-Asia, consumers are still very cautious given the weak global economic environment,” Billabong said.

“ This has resulted in a significant reduction taylor a number taylor product shipments in important trading post in June.”

Heavy discounting also affects the performance taylor Bill abong stores, but online sales still strong, said.

In Europe, consumer confidence is affected by the sovereign debt taylor the region, and some warn some shipments have been delayed as a result.

Sales in Canada were subjected and expectations, and the U.S. is poor winter affect DaKine Snowboard and ski and surfing accessories company Billabong said.

Research shows West Aussies optimistic

Research shows West Aussies optimistic

doom and gloom to dominate the headlines when it comes to the global economy than most West Aussies are optimistic about the long term prospects, according to a new survey.

But two consecutive rate cuts of the past two months may have little impact in the short term have had the confidence, confidence in the prospects of the consumer WA State economy picked up the first time in more than. year

This is despite the 46 percent of the more than 400 people approached for consumer confidence survey said the global economic news – is dominated by financial ructions in Europe – weighs on the minds of home

Chamber of Commerce and Industry WA and Curtin Business School shows an overview of the long-term confidence in the economy compliance by improving the financial position of WA households.

Nearly one-third more than 400 people contacted in the survey said they were in a better financial position compared with a year ago, with a higher income households and younger participants between 18 and 35 reporting the greatest improvement.

higher cost of living pressures on the household budget, the numbers are still the biggest concern. The proportion of consumers worry about the electricity bill rose from 76 percent in the March quarter survey to 80 percent.

Shopping accounts also have the West Aussies are not spending money on specific items such as clothing and entertainment to be found, while 44 percent said that now would be a good time for major household purchases by regional households the most optimistic.

It will be bigger share to buy the assets do no t add to the hope of recovery in the market, with 69 percent of respondents say they had no plans to buy or capital replacement in the coming years.

Housing affordability is also preventing people from moving into the property market, with the percentage of respondents believed affordability was better than a year ago, fell from 35 percent to 26 percent.

Only 17 percent of WA households planned to buy real estate in the coming years, with younger people more likely to buy than their older colleagues, 32 percent and 10 percent.

Booming WA hit by the looming jobs crisis

Booming WA hit by the looming jobs crisis

less in WA will their workforce over the next three months. Image: File Source: Tea

BUSINESS conditions might be better than others present in WA in Australia, but recruitment problems weigh heavily on the minds of the people of the state.

skills shortages, global uncertainty and growing pressure on Washington to rescue the economy have contributed to the decline in employer sentiment March quarter, according to a recruiter.

As a result, hiring intentions are at their lowest level since the fourth quarter of 2009 with the state employment fell by 10 percent year on year and 7 percent from the previous quarter, according to the latest Manpower Employment Survey

national net employment fell by 8 percent last year, and about 2 percent in the March quarter.

Number of WA employers want more workers to take over the next three months also fell from 34 percent to 26 percent during the period.

“The decline in the outlook for the employer to the Western Australian mining boom to an end, but focus on the number of jobs in the market issues that must be taken to reaffirm the belief state,” Manpower Group Managing Director of Lincoln Crawley said.

Mr Crawley said employers would be the heat source as new projects in the Northern Territory and Queensland continue to feel highly qualified to attract people from WA workforce.

national business conditions are at their lowest level in three years, according to the NAB monthly business survey in May, which has dropped four points to -4 points.

Business confidence also deteriorated in May with the index falling 6 points -2 points in May.

It is a different story in WA, however, where conditions are the highest state in Australia for 15 consecutive months with the last measurement shows the net balance of +14 points.

Even WA is not immune, but with sharp falls in commodity prices and mining pull down the conditions in the state, according to the NAB chief economist Alan Oster.

“Confidence was highest in WA, albeit well below recent peaks that,” he said.

General assessment, however, said the results underline the strong economic growth data that was reported last week, with final demand in WA increased by 14.5 percent in the March quarter.

“The WA economy continues to lead Australia with the support of the mining and resources sector,” he said.

“Despite recent concerns that the weakening price of the product perspective, the situation to weigh in the near future, fixed.

essential global demand for commodities seems” Mining investment is expected to keep rising ne xt year to industries that offer the advantage in goods and services. “

The non-booming sector is still facing a strong headwind, however, according to manager John Boyle WA Nabbusiness

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Richest in the state lost $ 1.5 billion

Richest in the state lost $ 1.5 billion

richest people in the state are feeling the impact of the softening real estate market and the negative global economy.

And with a high impact on the Australian market, some of the richest feel the pain of negative sentiment in the market According to AMP chief economist Shane Oliver.

“It is a reflection of the public,” Dr Oliver said. “Most Australians have seen their money go down in the past few years.” Richest businessmen

WA and women lost an average 8.84 percent of their wealth in the past 12 months, depending on the BRW Rich 200 list this week.

It showed the 27 richest men in the combined wealth of $ 23.6 billion, but 19 of them lost part of their fate.

This is, of course, is richer woman in the world and the richest person Gina Rinehart Australia, a 183 percent growth in money received to $ 29.17 billion, according to the BRW Rich 200 list.

Includes iron ore miner and the state’s richest wealth increased by $ 17400000000 $ 52800000000 in, but when she is excluded, a total of $ 1480000000 lost.

Commerce and Industry WA chief economist John Nicolao said because the majority of the wealthiest people the state was linked to the resources sector, the wealth of their rise and fall of commodity prices.

“This is a pretty good game due to the long term is certainly positive because demand is generated for our main products abroad,” he said.

Both economists said a high impact on the housing market would also work against the richest of stagnating prices of Perth.

“What we have seen in Western Australia is more orderly deflation A (active) call and certainly brought many riches you just have not seen the growth that many had hoped,” Mr Nicolao said.

Some of the largest state-owned players such as Stan Perron, had ridden out the storm by having most of their investments in commercial and retail markets, he said. Mr. Perron rose 9.04 percent to 2.05 billion U.S. dollars.

Together with Ms Rinehart, resources investor Frank Timis, the wealth g rew 22 percent to $ 1.33 billion, was the only Western Australian in the list to experience double-digit growth for 12 months.

The biggest loser was the businessman Peter Bartlett, established mining services provider Barminco in 1989.

Mr. Bartlett only a scrape on the list, at number 198, after his wealth dropped from $ 369 million to $ 210 million in 2012.

Porter provides relief for WA businesses

Porter provides relief for WA businesses

Treasurer Christian Porter provide the budget in parliament. Photo: Kerri Berrington Source: PerthNow

Payroll tax and the contribution of mining sector to the future state are part of a strategy WA Government to jumpstart the suffering of the economy and secure nest egg for future generations.

Treasurer Christian Porter delivered his final budget today for the state elections next year, said the budget was committed to helping families and businesses that were difficult.

He also expressed a surplus of $ 196 million, said it was “safe” compared to the economic environment in which the state was a

According to the 2008 elections promised to providing assistance to struggling companies, Mr. Porter today announced $ 135 million in wage tax over four years

Part of the assistance is aimed at companies that new employees or Indigenous People with disabilities to rent -. with which companies are exempt from income tax for the first two years of relevant work experience.

And as previously announced today, $ 128000000 go to the payroll tax rebate applies to the 6700 small businesses to hoard up to $ 41,250 per 2,013 to 14.

Mr. Porter also introduced the budget centerpiece, the future of the fund that will be untouched for 20 years and will only be used for expenditure on infrastructure.

The Foundation will be launched in 2015-16 with approximately $ 1.1 billion in seed money, deducted from royalties for regions program efficiency dividend (223 million) and the benefits by fine iron ore (820 million dollars).

Following that 1 percent of the royalties received from the WA mining – or $ 65 – $ 70 million -. the future of the fund, expected to grow to $ 4700000000 in 20 years

The State Government has also commissioned an analysis of existing national land prices in the next three years in consultation with industry. are

OK, the government wants to know if it would be the part of the national land equal to one tenth of the total value of my head to adjust.

In accordance with the mining theme, the state announced that the government would be $ 443 million commitment to the electricity transmission line in the Midwest, Mr. Porter said that it would Tite magnesium iron ore opportunities in the area Opening.

“The entire nation will benefit by opening a major investment in the Mid West region, such as Kara microwave Tite project,” Mr. Porter said in his budget speech.

The expenditure is part of the total 1.4 billion investment in energy infrastructure in 2012-13, that $ 315 million in the expansion of capacity and includes $ 295 million to upgrade and maintain existing networks.

The government will spend a tot al of $ 26400000000 for four years in the capital works program, $ 7600000000 to spend in 2012-13 alone.

About $ 3600000000 coming years will be spent to upgrade and build the necessary new water / wastewater infrastructure is $ 167 million issued in fiscal year 2013 the Perth Waterfront project and ISK 183 million in Perth City Link project.

Mr. Porter said that the directory structure expenditure was necessary for the growing population of WA requirements, such as the 1000′s to the state every week.

The Government’s assessment of the economy will grow 4.75 percent in 2013-14, with unemployment reaching 4.25 percent and the CPI (inflation) to reach 3.5 percent.

For more information about the budget, click here

America paves the way for the Commodore

America paves the way for the Commodore

The Adelaide made Commodore V8 looks like the streets of America and hit race in NASCAR stock car racing series. Holden Vision Australia

humble Holden Commodore set to star in the United States, Cars Guide reports. File:. File

Holden will announce today that the transition program for Commodore, Adelaide motor race that will see and become a star galleries in the United States

while the sale of Elizabeth produced sedan continues to flow in Australia, the Commodore V8 will be shipped to America, where it will be sold by Performance Chevrolet SS badge.

In this form it would also star in Heartland brand in NASCAR stock car racing series, which is next to the Formula One international popularity.

Holden is to test the left-hand drive cars on the roads in Victoria in recent weeks and run it head-to-head with one of the strongest potential rival, the Dodge Charger, as it rounds the end of his major new contract.

motorsports sources in the U.S. indicate that the notification of the Chevrolet SS program is imminent, including Holden connection. The arrival of the VF Commodore donor car for the program ticking boxes for the American Muscle Car fans, and NASCAR stock car racing and, thanks to its V8 engine, a great body and rear wheel drive.

dollars on this historic deal is expected to be announced today.

The Chevrolet connection wake of the major export markets deal that saw the Commodore sold in the U.S. as a Pontiac G8 with American brand was suspended when General Motors was forced into bankruptcy in the global financial crisis.

This time, the number is probably much lower than the data much more by the NASCAR connection.

former GM Holden-president Mark Giant, now head of GM in the U.S. and called on the fan and supporter of the Commodore, was yesterday dodging questions Cars Guide is the link between strategy and SS Commodore.

Holden chairman Mike Devereux also declined to comment on the promotion of rumors in the U.S., which was caused by the announcement.

It is the key to the deal, and the timing of notices, where Chevrolet has already confirmed he will compete in stock car series next year with a whole new kind of do not like to go. It has also entered the SS nameplate performance.

large-scale testing of the racer is likely to start and elements will reveal at once.

“The smart money is betting on the civilian version of the V8-powered, rear-wheel drive Chevrolet Caprice PPV, which GM imports for police fleets from the Holden unit in Australia,” Automotive News American journalist Mark said Colias Cars Guide.

ANZ cuts home, business rates

ANZ cuts home, business rates

photo available Source: The Australian

ANZ has become the latest big four banks to pass on some of the Central Bank of improvements) Australia cutting interest rates.

ANZ today cut the standard variable home loan and business lending rates by 37 basis points – just months after the growth started

The decline was the bank’s standard variable home loan rate at 7 : 05. per cent, ANZ said the move would save customers a $ 280,000 home loan about $ 20 per week.

small businesses with an average loan of $ 130,000 default on $ 9.25 per week to save.

The move follows a decision improvements in the May 1 to cut the funds rate by an unexpected 50 basis points to 3.75 percent.

None of the big four banks, who have long complained about higher borrowing costs of the financial crisis in Europe, decided to move to the lower house full.

ANZ decision came four weeks after the launch of his house and business lending rates by six percentage points.

Head of the Australian arm of the bank, said Philip chronic determine improvements in reducing the flow of influence on national funding that ANZ gives room to reduce its importance.

“ We continue to work hard to ensure we are competitive despite ongoing financial pressures driven by high we p ay up to 2.9 million in deposits with the Central Bank cash rate and continued volatility in wholesale money markets, ” he said.

Morningstar equity research head Peter Warner said, despite speculation that improvements would continue to reduce the cash rate in 2012, the big four banks would be a conservative approach to trimming their lending rates.

“ further reduction of taxes will not be fully reflected as banks try increasing pressure on the margins of the liability side of the balance sheet to minimize,” he said.

“ perverse banks are lucky credit growth has slowed significantly after the GFC (global financial crisis) that businesses and households, finishing with more and more resources available to the bank deposits are safe havens from the ravages of volatile equity markets and the like. ‘

Mr. Warner said while Australia had the big banks have pretty well recovered from the GFC, when the profits and dividends took a dive , they were not out of trouble yet.

He expects the banks to suffer continued pressure on the margins of a few years ago.

Carbon price checks, get ready to retire

Carbon price checks, get ready to retire

list of companies set to a carbon pricing system due

steel, aluminum bodies, as listed

Coming amid warnings “Australian industry could be in danger”

Giant steel and aluminum members will be among nearly 250 companies pay a carbon price of July, and distributors of electricity and even the regional NSW hired.

They have to pay $ 23 for each tonne of carbon dioxide emissions and will continue to pay until they reduce their emissions.

The Government today announced the names of the 248 ‘lot” (see complete list) who will be responsible for carbon penalty because they are responsible for 70 percent of emissions in the country.

Responsible organizations names LEPID Public Information Database) contains an appeal from the large coal project -. of Anglo Coal on coal Yarrabee

They automaker Toyota paper manufacturer Visy, South Australia Water Company, the Teys Meat Group Snowy Hydro Ltd and Wagga Wagga City Council.

and it seems that the high rollers are also major polluters of the Crown Casino in the list.

Other companies will be added to the list and it will go to expected to total nearly 500 in July.

Law Energy Regulator must clean up a list of people who probably are responsible under the price of carbon-publishing systems.

“We have written a total of 330 party consultants we think they are more likely to be the party responsible for the financial year 2012-13,” said the chairman of supervisor Chloe Munro.

“These members account for more than 95 percent of the emissions under the carbon pricing system.

” After the consultations that we have today the 248 units that we are happy are more likely to cast the responsible party. These entities account for about 70 percent of the emissions under the carbon pricing system.”

The price of carbon will be fixed until 2015 when the market will lead to a fine, as long as it does in T under the floor by the government.

Government today forced to defend his system by independent Rob Oakeshott said after the 2015 floor price should be abolished because it would keep prices high w ell above those of foreign competitors.

Mr Oakeshott will also remember that multi-party group that proposed the system to a new call for changes to consider.

Government regulations would clearly not on the floor price change would be introduced. But Mr Oakeshott said the Australian industry could be at risk

“Anyone who follows the international carbon market price can be seen that the floor price in 2015 stands a fair chance in the game -. At the risk of investment in Australia and stop taxpayer in Australia,” he said

“Hopefully in a sensible way, policy makers -. either through multi-party committee on climate change or otherwise – can really think about whether to the advantage of the program is … and the country’s best.”

Climate Change Minister Greg Combe aims to discuss the matter with the independent MP, but made clear today, Mr Oakeshott would keep signed his contract to the system to support its current form.

“We all agree that the agreement, we love to, but we have not bought the policy at this stage to implement a floor price and I have had some discussions with Mr Oakeshott and others around them develop, “Mr Combe said.

Macquarie cuts jobs, profit falls 24 percent

Macquarie cuts jobs, profit falls 24 percent

Macquarie Bank warns of lower profit Source: The Australian

Macquarie Group CEO Nicholas Moore received $ 7.8 million, despite a 24 percent reduction in corporate profits. Image: File Source: The Australian

Macquarie Group CEO Nicholas Moore pocketed $ 7,800 in 000 people same year, the company reported a 24 percent drop in profits and more than 1,300 jobs.

Significantly lower investment activity will remain Macquarie capital markets business fell in March 31, and measures to reduce costs were not against the profit decline.

Macquarie shed 1,354 positions in 12 months to March, or nine percent of its workforce, with a total of 14,202 employees.

The largest number of job losses came from his Macquarie Securities business, which was also the worst performer in the group.

One-third of the employees, or 581 points, were the Macquarie securities transferred.

“ They had a variety of reasons, but all returned to try to do things more efficiently and effectively,” Mr. Moore told reporters today.

“ We have duplication within the organization to have.

“ We had two living areas, we had three systems that would do the same.”
Macquarie Securities has grown into a $ 378 million improvement in the annual figures for the loss of $ 194 million to write for the year 31 in Ma rch.

Macquarie Capital, which deals with corporate finance and mergers and acquisitions, 60 percent fall in full year profit of $ 85,000,000.

They contribute to the Macquarie Group profits for the year in March to $ 730 million, a decrease of $ 956 million last year.

Mr Moore said he expects that the success Macquarie Group to improve in fiscal year 2013, subject to market conditions do not deteriorate.

He said he hoped the debt problems of Europe were not progressive, and are designed to the cash rate cut by the Reserve Bank of Australia was the confidence of investors in the short term to increase.

“ Australia is a very important part of our company and its many features that come from Australia, which should give people a degree of confidence,” Mr Moore said.

“ We expect that normally (a rate cut funds) to be good and solid angle.

“ It makes the cost cheaper capital, whether it’s housing or something else , and secondly, it can affect the dollar and we know that many businesses suffer due to the dollar.”

Mr Moore’s salary for the years to March totaled $ 7,790,000, a decrease of 10 percent from $ 8,690,000 last year.

More than half of their wages in the form of shares and $ 2,050,000 in cash paid as profit sharing.

Other top executives have similar large cuts in their remuneration, except for the head of Macquarie Funds Sem Wikramanayake that compensation increased 31 percent to $ 7,360,000.

Macquarie declared a final unfranked dividend of 75 cents per share, taking the total dividend for the 12 months to $ 1.40, unfranked.

shares rose 90 cents or 3.17 percent at $ 29.33 in 1532 fueled.

Rinehart and Palmer have a One Track Mind

Rinehart and Palmer have a One Track Mind

Clive Palmer and Gina Rinehart are looking for your own personal lines to their mines in the Galilee Basin. Photo: The Courier-Mail Source: The Courier-Mail

richest Australian man, WA billionaire Gina Rinehart. Source: The Australian

They are two of the biggest billionaires Australia, both accustomed to getting what they want.

What website tycoons want is their own railroads to the coal mines they plan to Galilee Basin in Queensland.

But Newman Government is placed in the unenviable position between billionaires and warned that it wants only a trace.

The common fate of more than $ 15000000000, and no love lost between the two, industry insiders say, to convince the couple to share, one of the biggest challenges in government Newman.

Galilee complicate matters given the Indian billionaire Gautam Adana also wants his railroad to me his mission, while the QR National has shared a song that nobody wants to use.

Vice-Premier Jeff Seeney said yesterday The Courier-Mail that he had written to both Mr and Mrs Palmer Rinehart this week to warn them that a railroad was preferred by the government.

Mr Seeney invited to the powers of the coordinator-managers, the authority to acquire land needed include to use.

Mr and Mrs Palmer Rinehart can legally continue to pur sue their own laws, but they would be left to the mercy of landowners beyond the 500 km route from the mines in the Abbot Point coal terminal. Mr Seeney said he was a “complete debacle,” but the government inherited was placed on a track because it was in the interest of farmers and the environment.

“If all of these solutions were built we would end up with a sort of spaghetti mess of lines on this part of North Queensland,” he said.

Mr Seeney said the job would be to offer savings to all lawyers would have to work hard to do it alone, without the coercive power of government purchases.

Mr Seeney admitted the task of getting the billionaires to adopt not be easy.