PNG eyes Oil Search stake: sources
There is growing speculation Papua New Guinea government is agitating for take a direct stake in the Australian-listed Oil Search through a potential $1 billion capital raising. UBS is believed to be working on a loan to the PNG government that would enable the Pacific Nation to acquire roughly 10 per of Oil Search via a private share placement.
ASX inches up as solid results offset China worries
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Well-received half-year company results and growing optimism that domestic business conditions are improving helped the local sharemarket edge higher despite disappointing local construction data and looming concerns about volatility in China.
Need for gigabit speed questioned at NBN Co hearing
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Major internet service providers are not yet offering the fastest speeds available over the national broadband network, but executives say just one business is currently on a plan with 250Mbps speed.
Rival bid speculation buoys Aurora Oil & Gas
The record value that Aurora Oil & Gas attracted from Canada’s Baytex Energy may not have deterred rival bidders with speculation mounting that a counterbid to Baytex’s $4.10 a share offer is being prepared.
Qantas debt rallies on guarantee speculation
The cost of insuring against a default in five-year Qantas debt fell sharply on Wednesday morning on increased speculation that the airline will secure a government guarantee.
Whitehaven Coal cost cuts impress
Despite impressive cost-cutting and showing its transformative Maules Creek project is on track to start producing in 2015, Whitehaven Coal’s fortunes remain at the mercy of weak coal prices and a stubbornly high Australian dollar.
Gas prices bite AGL, but consumers feel no benefit
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Matthew Stevens | Arguably the only obvious positive about AGL’s constrained interim profit is that it is at least consistent with the competition.
WorleyParsons mulls restructure as profit drops, jobs go
Engineering group WorleyParsons signalled it was considering a restructure as it reported a 27 per cent fall in first half net profit to $119.8 million and cut more than 500 jobs.
‘Disappointing’ data shows construction struggling
Updated | Contractions in residential, non-residential and engineering construction pulled down the overall value of building work 1 per cent in the December quarter.
Older mothers drive up Virtus revenue
Older first time mothers’ fears that their age could lead to babies born with conditions caused by genetic abnormalities are driving growth in diagnostic tests for fertility clinic network Virtus Health.
Rival bid speculation buoys Aurora Oil & Gas
The record value that Aurora Oil & Gas attracted from Canada’s Baytex Energy may not have deterred rival bidders with speculation mounting that a counterbid to Baytex’s $4.10 a share offer is being prepared.
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Night wolves v Nazis in Sevastopol
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It’s been decades since Sevastopol fought a Nazi seige; but residents are getting ready to do so again.
A new BlackBerry phone on the (far) horizon
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BlackBerry has announced a new phone, the Q20, that will sport more or less the same trackpad and buttons it uses on its much-loved-but-sadly outdated Bold devices.
Mt. Gox turmoil ‘like MF Global’
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Bitcoin cheerleader and internet investor Marc Andreesen maintains the apparent collapse of Bitcoin exchanage Mt Gox is an isolated problem.
Buffett’s will: Invest in index funds only
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Buried within a lengthy excerpt from Warren Buffett’s letter to shareholders of Berkshire Hathaway, was a deeply personal and heartfelt instruction.
‘Too early’ for BlackBerry Messenger sale: CEO
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BlackBerry’s John Chen says it is too early to sell off the company’s popular messaging service, in the wake of Facebook’s WhatsApp acquisition.
When there aren’t plenty of fish in the sea
First there was peak oil. Now there’s concern that peak salmon is setting in. And it isn’t as if sushi was inexpensive to begin with.
Telstra unveils fast internet devices, 4G plans
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Telstra has launched five high-speed mobile broadband devices and changed the way it expands its 4G network.
Goldman tattletale never in the elevator
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The famous Goldman Sachs elevator tweeter, never worked for the bank: but it’s still funny.
How a lonely Aussie student inspired WhatsApp
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Australia’s tyranny of distance and excessively expensive phone call charges are what transformed WhatsApp into the company.
What Warren Buffett learnt from farming
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Investment guru Warren Buffett has offered an unusually long preview of his hotly anticipated letter to Berkshire Hathaway shareholders.
National
ACCC needs more power to tackle supermarkets: Sims
ACCC chairman Rod Sims says the regulator needs more legislative support to deal with anti-competitive behaviour by supermarket giants Coles and Woolworths.
- Vic, NSW not open for business: gas giant BG
- ICAC doubts over coal mine approval
- Online courses a great opportunity, digital CEOs say
- Abbott offers $320m in drought relief for farmers
- Consumers need to take charge of financial decisions: Sinodinos
- Shorten stands ground on calls for Conroy sacking
- Qantas to blame if jobs are exported
Opinion
Aurizon acts to avoid union action train wreck
![Matthew Stevens Matthew Stevens](/web/20140226102615im_/http://www.afr.com/rw/SysConfig/WebPortal/afr/_files/images/columns/matthew_stevens_small.jpg)
Matthew Stevens | Aurizon went into the latest bout of industrial hostility by Hunter Valley coal train drivers talking very tough.
Building sites like ghost towns
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Editorial | When workers on major building sites put down their tools on April 17, in most states they will not have to return to work until April 26, thanks to the Easter and Anzac holidays and the pernicious building industry practice of taking rostered days off.
World
Ukraine to move against run on banks
Ukraine is weighing measures to stem cash withdrawals after as much as 7 per cent of deposits were taken from banks during last week’s bloody uprising, underscoring the need for action to fend off a default. The interim government is looking for up to $US35 billion to fend off a default.
- Japan now sees future for nuclear power
- Night wolves v Nazis in Sevastopol
- IMF boss Lagarde condemns inequality
- Euro zone economy to expand 1.2pc this year
- APEC meeting shifts to Beijing amid protests threat
- Melbourne Uni second in world for teaching
- Fed will release US bank stress test results on March 20
- JPMorgan slashes 5000 jobs, lowers profitability target
Business
PNG eyes Oil Search stake: sources
There is growing speculation Papua New Guinea government is agitating for take a direct stake in the Australian-listed Oil Search through a potential $1 billion capital raising.
- Whitehaven Coal cost cuts impress
- Flight Centre sticks to guidance despite strong result
- WorleyParsons mulls restructure as profit drops, jobs go
- Qantas needs more than government help: analysts
- Prime maintains forecast despite profit dip
- Spain’s Duro Felguera fills hole left by Forge at Roy Hill
- Murdoch ditches DMG for the Nova brand
- Westfield Group on track with restructure
- Older mothers drive up Virtus revenue
Technology
Google Ventures’ Miner sees little hope for telco start-up arms
Google Ventures partner and Android co-founder Rich Miner says the recent push by telecommunications companies such as Telstra and SingTel-Optus into funding start-ups will fail unless they are willing to cannibalise their core businesses.
- AAPT chief Yuile resigns as sale nears end
- Mt. Gox turmoil ‘like MF Global’
- Telstra unveils fast internet devices, 4G plans
- ‘Too early’ for BlackBerry Messenger sale: CEO
- Apple issues fix for glaring security flaw on Macs
- Google lobbies against anti-Glass laws for drivers
- Chinese microblog Weibo plans US float
- SingTel chief calls for right to charge OTT challengers Skype and WhatsApp
Markets
ASX inches up as solid results offset China worries
Well-received half-year company results and growing optimism that domestic business conditions are improving helped the local sharemarket edge higher despite disappointing local construction data and looming concerns about volatility in China.
- $A steady despite falls in the yuan
- ‘Disappointing’ data shows construction struggling
- Pimco pressure too much for El-Erian
- Credit Suisse helped clients hide assets from US authorities: Senate report
- Lending conditions ease for property developers: NAB
- Results Wrap | Australian Vintage profit up
- Buffett’s will: Invest in index funds only
- JPMorgan slashes 5000 jobs, lowers profitability target
- China sends message with yuan fall
Personal finance
The true casualties of zero interest rates
Pension funds, annuity providers and insurance groups are among those most at risk from this grand monetary policy experiment.
- Small apartments, big headaches
- Government wants to bring back conflict pay
- Women push to close superannuation gap
- Self-management means taking responsibility
- The benefits of account-based superannuation
- Q&A; | When being on leave is being at work for an SMSF
- Experts say keep your cool amid this volatility
- Approach equities with caution: ALF
- Super lump sum won’t trigger income test
Latest TV
Preview: Qantas to dominate Thursday announcements
Qantas likely to announce a nasty loss and job cuts as part of a restructure, with scrutiny also on its frequent flyer plans.
ACCC sues Coles, Woolies over fuel discounts
The competition watchdog has had enough of the big grocers' methods to get around limits on petrol discounting that they agreed to last year.
Results: AGL, Flight Centre, Worley Parsons
AGL and Worley Parsons have seen profit drops in their results announced Wednesday but Flight Centre continues to soar.
QBE stung by North America, eyes premium hikes
QBE have turned in a hefty loss, hurt by claims in North America, and is hoping a premium hike in its ANZ and US markets can help offset the damage.