Transport

Not everyone gloomy about QBE

22 May 2012 | Sarah Thompson and Anthony Macdonald

QBE is hit by falling government bond yields as it recovers from last year’s natural disasters. Still, one research house upgraded the insurer ‘outperform’.

Death penalty for fundraising fraud

22 May 2012 | Lucy Gao

The Higher People’s Court in East China’s Zhejiang Province handed businesswoman Wu Yinga the death penalty with a two-year reprieve for fundraising fraud, after a retrial.

Boards show no mercy in tough times

22 May 2012 | MICHAEL SMITH

Deteriorating economic conditions and increasingly volatile markets are resulting in some brutal decisions at the upper echelons of corporate Australia.

Qld ranks $2bn Gladstone terminal ‘significant’

22 May 2012 | Dan Hall

A consortium of high-powered businessmen have won state significant project status for a new $2 billion-plus coal terminal project at the industrial port of Gladstone.

Qantas announces corporate split

22 May 2012 | Andrew Cleary

Updated | Qantas Airways has unveiled its biggest management reshuffle since Alan Joyce took over in 2008, with a split of the airline into separate domestic and international business units.

Your chance to own Bill Gates’ Porsche

22 May 2012 | Ben Woodhead

Car collectors have a shot at owning a 1979 Porsche 911 Turbo bought by Bill Gates during a petrol headed youth that notoriously led to the billionaire philanthropist’s arrest.

Qantas crunch time

22 May 2012 | John Stensholt

PRINT: 22 May 2012 | PAGE 64 | Qantas crunch time

It is well known that Qantas chief executive Alan Joyce is a fan of good timing. Well an avid collector of old airline timetables, anyway.

Countdown to space travel privatisation

22 May 2012 |

PRINT: 22 May 2012 | PAGE 2 | Countdown to privatisation of space travel

United States rocket company SpaceX will soon launch itself into the history books when it delivers supplies to the crew of the orbiting International Space Station.

Emirates’ altitude slips, attitude holds up

22 May 2012 | Andrew Cleary

PRINT: 22 May 2012 | PAGE 1 | Altitude slips, attitude holds up

Emirates has suffered a sharp profit fall but the gulf carrier’s president isn’t about to take his foot off the accelerator when it comes to adding destinations – including out of Australia.

Emirates courts Qantas in tie-up revival

22 May 2012 | Andrew Cleary

PRINT: 21 May 2012 | PAGE 1 | Emirates courts Qantas in tie-up revival

Emirates president Tim Clark has raised the prospect of his airline and Qantas picking up abandoned talks over a code share deal to Dubai and beyond that anchor the Australian carrier’s flailing international arm.

Dedicated Qantas workers ‘gutted’

22 May 2012 | Lucille Keen

PRINT: 22 May 2012 | PAGE 1 | Dedicated workers ‘gutted’

Workers at Qantas’s Tullamarine heavy maintenance facility said it was a “sad day for Melbourne maintenance” given the “devastating” news of the plant’s closure.

Toll Holdings (TOL)

21 May 2012 | Jenny Wiggins

PRINT: 18 May 2012 | PAGE 39 |

Toll Holdings’ investors have been brought back to earth with a thud after the logistics group slashed its full-year profits guidance, citing weak global markets, and said it would consider selling some of its businesses.

Myki smartcard for tourists in Victoria

21 May 2012 | Mathew Dunckley

PRINT: 21 May 2012 | PAGE 5 | Myki smartcard for tourists in Victoria

What to do about tourists? It is a question that has dogged Victoria’s unloved public transport smartcard system, Myki, for years. Now the Victorian government has a plan.

Demand for steel cools

21 May 2012 | Lucy Gao

Steel prices in China have recently fallen to near their lowest level this year due to oversupply.

Job losses as Qantas focuses on Brisbane

21 May 2012 | Andrew Cleary

PRINT: 22 May 2012 | PAGE 1 | Job losses as airline focuses on Brisbane

Updated | Qantas Airways chief Alan Joyce has confirmed a long-term plan to move to one heavy maintenance base in Australia, casting doubt over how long the airline will keep its Victorian facility at Avalon after announcing the closure of the Tullamarine plant ­yesterday.

Too many acquisitions take their Toll

21 May 2012 | Mike Smith

PRINT: 21 May 2012 | PAGE 56 | Too many acquisitions take their Toll

Paul Little oversaw a quarter of a century of growth at Toll Holdings which has established itself as a global logistics giant with an impressive war chest to spend on acquisitions. The company’s story had been impressive until investors started questioning its strategy, fuelled by years of ambitious acquisitions, more than a year ago.

World briefs

21 May 2012 |

PRINT: 21 May 2012 | PAGE 16 |

Christian groups in the Philippines have called for a ban on Lady Gaga’s Manila concerts, alleging that her song Judas is an offensive mockery of Jesus Christ.

A Rowe boat

19 May 2012 |

PRINT: 19 May 2012 | PAGE 56 | A Rowe boat

With financial markets mired in uncertainty, it is not surprising that demand for ultra-luxury yachts is not what it used to be.

Tunnel vision on traffic forecast

19 May 2012 | Vesna Poljak

PRINT: 19 May 2012 | PAGE 3 | Tunnel vision on traffic forecast

What’s worth close to $1 billion on paper and just a few million upon construction? A failed toll road. That’s the reality of the RiverCity Motorway Group’s Clem Jones Tunnel for thousands of investors.

IMF to file second suit against Aecom

19 May 2012 | Paulina Duran

PRINT: 19 May 2012 | PAGE 3 | IMF to file second suit

Litigation funder IMF Australia will file a second legal action against traffic forecaster Aecom Australia within the next two weeks.

Abbot Pt coal terminal expansion scrapped

19 May 2012 | Mark Ludlow

PRINT: 19 May 2012 | PAGE 1 | $9bn coal port plan

The Newman government has pulled the plug on the $9 billion privately-funded expansion of Abbot Point coal terminal in North Queensland, a project that would have created one of the largest coal ports in the world.

Joyce crashes into the dictators

19 May 2012 | Tansy Harcourt

PRINT: 19 May 2012 | PAGE 3 | Joyce crashes into the dictators

In a power play over the part-Qantas-owned Air Pacific, Alan Joyce may have met his match.

Nikkei drops sharply, weighed down by troubled Spanish banks

18 May 2012 |

Japan's Nikkei share average dropped sharply on Friday morning with securities hammered by fears of contagion from Spain's ailing bank system and a strong yen pushed down exporters.

Pilots at United Airlines may vote on strike

18 May 2012 |

Pilot union leaders at United Continental Holdings, the parent of United Airlines, called for members to hold a vote on whether to strike over stalled contract talks.

Traffic forecaster in a dark tunnel

PRINT: Capital | 17 May 2012

Exclusive | Traffic forecaster Aecom is being sued by the receivers of RiverCity Motorway for making overly optimistic traffic forecasts in a landmark damages claim worth up to $2 billion.

Desert prince may win Virgin

18 May 2012 | Matthew Stevens

PRINT: 18 May 2012 | PAGE 1 | Desert prince may win Virgin

John Borghetti’s redesign of Virgin is aimed at confirming our feisty second carrier as a realisable opportunity to international airlines.

Company briefs

18 May 2012 |

PRINT: 18 May 2012 | PAGE 4 | briefs

Australian Infrastructure Fund is selling its 50 per cent stake in the Port of Portland to Palisade Ports for $66.5 million.

Rocky road for RiverCity Motorway

18 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 18 May 2012 | PAGE 18 | Rocky road for RiverCity Motorway

It has been an eventful week, to say the least, for RiverCity Motorway and its receivers Korda Mentha.

Retailers applaud George St mall plan

18 May 2012 | Zoë Fielding

PRINT: 18 May 2012 | PAGE 3 | Retailers applaud George St mall plan

Retailers and property owners along Sydney’s George Street have welcomed council plans to turn parts of the thoroughfare into a pedestrian mall with a light-rail service running down its length.

Show us plans for second airport: Abbott

18 May 2012 | Michaela Whitbourn

PRINT: 18 May 2012 | PAGE 3 | Show us plans for second airport: Abbott

The federal Coalition will engage with the Gillard government on plans for a second airport in the Sydney basin when a detailed plan is produced.

Holden revs up for the US

18 May 2012 | Peter Roberts

PRINT: 18 May 2012 | PAGE 1 | Holden revs up for the US

The Holden Commodore is set to storm back into the North American market next year badged as a Chevrolet SS and positioned as a niche muscle car.

Forecaster’s tunnel vision

18 May 2012 | Paulina Duran

PRINT: 18 May 2012 | PAGE 1 | Forecaster’s tunnel vision

The financial collapse of the RiverCity Motorway in Brisbane has engulfed the traffic forecaster that advised on the project, Aecom, in a $2 billion lawsuit.

Nikkei ends up 0.9pc as investors hunt bargains

17 May 2012 |

The Nikkei share average rose 0.9 percent on Thursday as upbeat Japanese economic growth data trumped worry about Europe and investors shopped for bargains after Wednesday's market tumble left the benchmark down 14 percent this quarter.

China’s $US949m subsidy for fuel-saving cars

17 May 2012 |

The central government has allocated $US949 million to subsidise consumer purchases of fuel-saving cars in a bid to cut emissions in the world’s biggest car market.

Baby BMW was born to dazzle

17 May 2012 | Tony Davis

PRINT: 18 May 2012 | PAGE 2 | MOTORING TONY DAVIS

It’s not just the colour that’s intense in BMW’s new 1 Series M Coupe, the fun factor is as well.

Hubei Energy signs $US2.4bn power plant deal

17 May 2012 |

China's Hubei Energy has signed an agreement with the Suizhou county government to build a power plant with total capacity of 4000 megawatts, an investment worth $US2.37 billion.

Sydney Airport reassures on guidance, capacity

17 May 2012 | Mathew Dunckley

Updated | Sydney Airport has reaffirmed distribution guidance at 21¢ per stapled security for calendar 2012 and says it has ample capacity to deal with the expected growth in passengers.

Toll Holdings (TOL)

17 May 2012 | Brendon Lau

Morgan Stanley has cut its price target on Toll Holdings to $4.92 from $5.40 a share but retained its “equal-weight” rating on the stock.

Qantas within its rights on Air Pacific

17 May 2012 | Olivia Wirth

PRINT: 17 May 2012 | PAGE 63 | Qantas within its rights on Air Pacific

I would like to provide the facts on “Fiji hits out at Qantas over Air Pacific sale”.Qantas acquired its 46 per cent interest in Air Pacific in 1998. We have always been aware that Air Pacific needed to be “substantially owned and effectively controlled” by Fiji nationals and there is no doubt that it has been substantially owned and controlled by the Fiji government.

Truckers use road threat

17 May 2012 | Ash Salardini

PRINT: 17 May 2012 | PAGE 63 | Truckers use road threat

State and federal transport and infrastructure ministers are to meet on the national agenda for transport. High on the agenda is the continuation of a national scheme for heavy vehicle registration charges, a system that guarantees the user pays for the road infrastructure they use.

Top price for an old Bentley

17 May 2012 | Terry Ingram

PRINT: 17 May 2012 | PAGE 1 | Top price for old Bentley

A classic Bentley, the marque most favoured by the art trade, sold for $462,000 at an auction held in Sydney by Shannons on May 7.

GM puts the brakes on Facebook ads

17 May 2012 | Tanzina Vega

PRINT: 17 May 2012 | PAGE 2 | GM puts the brakes on ads

Just days before Facebook is scheduled to hold its first public stock offering, which could value the company at more than $US100 billion, General Motors has decided to remove its advertising from the social network.

Greiner to seek airport solution

17 May 2012 | Michaela Whitbourn

PRINT: 17 May 2012 | PAGE 1 | Greiner to seek airport solution

Federal Labor’s infrastructure advisory body and its NSW counterpart, chaired by former Premier Nick Greiner, could help break an impasse between both levels of government over a second Sydney airport.

New eco-engine revs up Falcon hopes

16 May 2012 | Peter Roberts

PRINT: 17 May 2012 | PAGE 2 | Falcon hopes ride on engine

Ford’s new fuel-efficient four-cylinder version of the Ford Falcon is not a make-or-break factor for the troubled Australian-made large car, says its national boss, but it does offer more choice.

Profit downgrade takes its Toll

16 May 2012 | MICHAEL SMITH

Most of the sharemarket gains in Toll Holdings since Brian Kruger started in the top job in January were wiped out following a profit downgrade and asset writedowns.

Cabcharge Australia (CAB)

16 May 2012 | Joanna Heath

JPMorgan and Credit Suisse have increased their 12-month target price on Cabcharge Australia after the company announced first-quarter results for its two associates.

Market takes a heavy Toll

16 May 2012 | Jacob Greber

PRINT: 16 May 2012 | PAGE 1 | Market takes a heavy Toll

Toll Holdings chief executive Brian Kruger says conditions have never been tougher. “[I’ve] never seen or been involved in a market where there’s been so much noise from our customers about the need for us to help them manage their margin issues,” he said.

Toll shares dive on profit downgrade

16 May 2012 | Jenny Wiggins

PRINT: 16 May 2012 | PAGE 2 | Toll shares dive on downgrade

Toll Holdings’ chief executive Brian Kruger warned that the retail sector is struggling as he made his first writedowns since stepping into the role at the beginning of this year.

EU combat helicopters strafe Somalia pirate base

16 May 2012 |

The European Union, which had vowed to take a tougher stand against the scourge of Somali piracy, took the fight to the pirates’ home base for the first time.

Berkshire takes stakes in GM, Viacom

16 May 2012 |

Berkshire Hathaway added new positions in auto maker General Motors and media conglomerate Viacom in the first quarter and cut its stake in chipmaker Intel by 33 per cent.

Shipping laws prove bone of contention

16 May 2012 | Katie Walsh

PRINT: 16 May 2012 | PAGE 5 | Proposed shipping laws prove bone of contention

Proposed shipping laws will either cripple other national industries or save shipping, according to different opinions given in evidence at a Senate hearing in Canberra on Tuesday.

AMR pilots see $130m savings in US Air merger

15 May 2012 |

The lead labour negotiator for AMR Corp pilots said a merger between AMR and competitor US Airways could save $US130 million a year in cuts to bankrupt airline’s pilots’ union.

Opel seeks to end more than a decade of losses

15 May 2012 |

Opel, the European unit of General Motors, on Monday outlined the latest plan to end more than a decade of losses, saying it would try to increase sales outside Europe.

Business wants a bite of NSW train services

15 May 2012 | Michaela Whitbourn

PRINT: 16 May 2012 | PAGE 5 | Business wants a bite of NSW train services

Business groups have urged the NSW government to franchise the state’s regional train services after it flagged a major overhaul of train operator RailCorp.

Essential projects need cash

15 May 2012 | Megan Motto

PRINT: 15 May 2012 | PAGE 2 | Essential

In the race to surplus, the federal government has produced a budget with little new, substantive, or immediate investment in the infrastructure pipeline.

NBN on call at Varsity Lakes

15 May 2012 | Natalie Gerritsen

PRINT: 15 May 2012 | PAGE 2 | NBN on call at Varsity Lakes

NBN Co, the company building the National Broadband Network, has take a 1500 sq m tenancy on the Gold Coast at Varsity Lakes for its national call centre.

World briefs

15 May 2012 |

PRINT: 15 May 2012 | PAGE 46 |

European industrial production unexpectedly declined in March, as lower output in countries from Spain to France offset gains in Germany.

$6m Ferrari leads the pack

15 May 2012 | Scott Reyburn

PRINT: 15 May 2012 | PAGE 2 | $6m Ferrari leads the pack in classic car auction

Ferraris, led by a 625 TRC Spider that raced during the 1950s, were the top three lots in a $US41.8 million auction.

The technology of driving and energy

15 May 2012 | Brian Corrigan

PRINT: 15 May 2012 | PAGE 2 | The technology of

Motorists in Nevada are to be the first in the United States to share the road with cars that drive themselves. Internet search company Google has taken a lead in driverless car technology with a Toyota Prius that has clocked up more than 200,000 kilometres without causing any accidents.

Fiji hits out at Qantas over Air Pacific sale

15 May 2012 | Tansy Harcourt

PRINT: 15 May 2012 | PAGE 4 | Fiji hits out at Qantas over Air Pacific sale

Fiji has upped the ante in its stoush with Qantas over the Australian carrier’s shareholding in Air Pacific, releasing letters and documents between the two, and describing Qantas’s behaviour as “cute”.

Teaser tactics: KKR puts BIS in fast lane

15 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 15 May 2012 | PAGE 18 | Teaser tactics: KKR puts BISin the fast lane

Kohlberg Kravis Roberts & Co can claim to have one of the better reads on the transaction environment, so when the firm starts playing strange games with its own sales processes, it is worth taking notice.

National briefs

15 May 2012 |

PRINT: 15 May 2012 | PAGE 4 |

A $750 million contract has been awarded to a consortium of Abigroup, John Holland and Coleman Rail to build the next stage of Melbourne’s Regional Rail Link.

Pluto drifts away from Woodside orbit

15 May 2012 | Angela Macdonald-Smith

PRINT: 15 May 2012 | PAGE 3 | Pluto drifts away from Woodside orbit

Woodside CEO Peter Coleman says the expansion of the $14.9 billion Pluto LNG project is as far away as ever owing to mediocre test results and third-party difficulties.

Maxitrans on a positive roll

14 May 2012 | TREVOR HOEY

Maxitrans has laid the foundation for a strong result in 2011-12 following an impressive first half performance. Two recent acquisitions indicate that management is very much on the front foot now and growth momentum should continue into 2012-13.

QR National (QRN)

14 May 2012 | Brendon Lau

Morgan Stanley has cut its price target on QR National to $3.75 from $3.95 a share due to an uncertain demand outlook for coal haulage and kept its “equal-weight” recommendation.

Lots of noise about an airport, but little planning

14 May 2012 | Andrew Cleary

PRINT: 14 May 2012 | PAGE 1 | Lots of noise, not much planning

Sydney Airport’s right of first refusal makes it a key player in the politically charged debate about a second airport for the nation’s international gateway.

Sydney Airport holds its ground

14 May 2012 | Andrew Cleary

PRINT: 14 May 2012 | PAGE 1 | Sydney Airport holds its ground

Sydney Airport chief Kerrie Mather says she will defend the company’s first right of refusal to build and operate a second Sydney airport, including any conversion of the RAAF base in Richmond.

Focus on food workers

14 May 2012 |

PRINT: 14 May 2012 | PAGE 12 |

Australia’s Fair Work ombudsman will check the books of up to 120 food outlets to verify workers are getting full entitlements, including minimum pay and penalty rates.

Peak hour traffic stalls Perth Airport

12 May 2012 | Julie-anne Sprague

PRINT: 12 May 2012 | PAGE 4 | Peak hour traffic stalls Perth Airport

The number of people flying through Perth Airport has surged 41.6 per cent a year over the past five years, to 11.5 million last financial year.

Albanese says freight hub is ‘a private project’

12 May 2012 | Michaela Whitbourn

PRINT: 12 May 2012 | PAGE 4 | Freight hub ‘a private project’

Federal Labor has hit back at Qube Logistics chairman Chris Corrigan after he accused Canberra of wasting money on a freight hub, as his own port logistics company pushes ahead with a rival plan.

Aston Martin adds some sparkle

12 May 2012 | Jacquie Hayes

PRINT: 12 May 2012 | PAGE 3 | Jewel in the crown

Hayes | There’s little evidence of a slowdown in the consumption of luxury goods. The battle in future will involve catching buyers’ attention.

Ford jests CEO Mulally will stay until he’s 80

11 May 2012 |

If Warren Buffett can run a company in his 80s, why can’t Ford’s Alan Mulally?

Ferrari lifted by sales in US, UK, Germany

11 May 2012 |

Sales of Ferrari, the high-end Italian sports car, rose more than 13 per cent to €556.1 million in the first quarter of this year, helped by strong demand in the US, Britain and Germany.

India to ban foreign pilots as rupee struggles

11 May 2012 | Justin Harper

PRINT: 11 May 2012 | PAGE 49 | India to ban foreign pilots as rupee drags on airlines

India is to ban foreign pilots in a move designed to save money for its troubled airlines.

Earnings plunge at Emirates, Singapore

11 May 2012 | Andrew Cleary

PRINT: 11 May 2012 | PAGE 3 | Earnings plunge at Emirates, Singapore Airlines

A fall in annual earnings at aviation giants Emirates and Singapore Airlines is another warning to the industry and investors on the crippling effect of high jet fuel prices and the consumer downturn stemming from Europe.

National briefs

11 May 2012 |

PRINT: 11 May 2012 | PAGE 18 |

Maritime Union of Australia members at Patricks stevedores have endorsed a new agreement, which appears to end an 18 month workplace struggle.

Manufacturers aim to compete

11 May 2012 | Peter Roberts

PRINT: 11 May 2012 | PAGE 3 | Manufacturers

As the dollar threatened to fall below parity with the US currency on Thursday, leading manufacturers said they were no longer focused on a lower Aussie but setting strategy to compete at today’s levels.

Jet crash wrecks Russian airline’s hopes

11 May 2012 | Andrew Kramer

PRINT: 11 May 2012 | PAGE 49 | Crash wrecks Russian jet hopes

The wreckage of a demonstration aircraft, a Russian-made passenger jet that vanished on Wednesday during a 50-minute flight over Indonesia, has been found on the side of a volcano shrouded in mist.

World briefs

11 May 2012 |

PRINT: 11 May 2012 | PAGE 49 |

Japan posted a current-account surplus for a second month in March on a rise in overseas investment income, even as higher energy demand boosted imports.

Canberra ‘wasting’ money on freight hub

11 May 2012 | Kevin Chinnery

PRINT: 11 May 2012 | PAGE 1 | Canberra ‘wasting’ money on freight hub

Qube Logistics chairman Chris Corrigan has accused the federal government of wasting more than half a billion dollars on a publicly-owned freight hub in western Sydney.

Early payouts for sacked CMI, First Fleet workers

10 May 2012 | Mark Skulley

PRINT: 10 May 2012 | PAGE 44 | Early payouts for sacked workers

Workers made redundant from Melbourne's car parts manufacturer CMI are set to be fast-tracked millions of dollars in unpaid entitlements, after an emergency meeting between union officials and Employment Minister Bill Shorten.

Virgin-Skywest tie-up gets ACCC OK

10 May 2012 |

Virgin Australia and Skywest Airlines have received final approval to jointly bid for corporate contracts and charter operations as part of an expanded alliance.

1st Fleet workers to get fast track help

10 May 2012 |

1st Fleet workers who lost their jobs when the trucking company collapsed will get fast access to federal government assistance.

CASA grounds WA’s Alligator Airways over safety risks

10 May 2012 |

The Civil Aviation Safety Authority (CASA) has suspended the operations of Kununurra-based Alligator Airways for an initial five working days after concerns mounted about imminent risks to air safety.

Foreign cabin crew wage parity bill rejected

10 May 2012 |

The federal government and opposition have rejected a proposal to force airlines to offer overseas-based cabin crew the same pay as local staff.

Federal Court upholds FWA ban on Qantas pilots’ action

10 May 2012 | Mark Skulley

PRINT: 10 May 2012 | PAGE 44 | Court upholds FWA

Updated | The Federal Court has upheld a Fair Work Australia ban on Qantas pilots taking further legally protected industrial action, drawing a line under the last challenge to a ruling favouring the airline over unions.

Qantas fights for frequent flyers

10 May 2012 | Sarah Thompson and Anthony Macdonald

The battle for Australia’s domestic aviation market is well and truly on as Virgin takes on Qantas to poach valuable corporate flyers.

Miclyn Express Offshore (MIO), Mermaid Marine Australia (MRM)

10 May 2012 | Brendon Lau

Citigroup has extended its relative call on Miclyn Express Offshore as its most preferred stock and Mermaid Marine Australia as its least preferred stock relative to its fundamental analyst coverage for the next three months.

Downer EDI (DOW)

10 May 2012 | Brendon Lau

Deutsche Bank has upgraded Downer EDI to “buy” from “hold” but lowered its price target slightly to $4.17 from $4.36 a share following the company’s investor day event.

Google’s self-driving car gets green light in Nevada

10 May 2012 |

PRINT: 10 May 2012 | PAGE 1 |

Commuting may never be the same again in Nevada, the US state that is home to Las Vegas, legalised gambling and huge amounts of desert. Besides gambling, it is now legal there to have a self-driven car.

Frequent flyer fumble costs millions

10 May 2012 | Ken Bensinger

American Airlines has estimated that a $US250,000 pass offering unlimited first class travel to holders is costing the struggling airline millions - and now it’s suing passengers.

Heavy travellers not pulling their weight

10 May 2012 | Christine Negroni

PRINT: 10 May 2012 | PAGE 2 | Heavier travellers today are not pulling their weight

Engineers and scientists have raised questions about whether aircraft seats, tested with crash dummies that reflect the 170-pound rule, are strong enough to protect heavy travellers.

World briefs

10 May 2012 |

PRINT: 10 May 2012 | PAGE 56 |

German exports increased for a third month in March as demand from outside the euro region offset weaker sales in Europe.

Part-time patrols let Somali pirates off the hook

10 May 2012 | Nick Hopkins

PRINT: 10 May 2012 | PAGE 55 | Part-time patrols let Somali pirates off the hook

The UK has had to scale back its commitment to counter-piracy because the Royal Navy no longer has enough warships to dedicate one to Somalia year round.

Supply Network (SNL)

10 May 2012 | Qaiser Malik

PRINT: 10 May 2012 | PAGE 41 |

Truck, trailer and bus parts seller, Supply Network’s share price has risen by more than 200 per cent from mid-2010, as it continues to deliver solid revenue and profit growth.

Toyota aims to double earnings

10 May 2012 | Anna Mukai

PRINT: 10 May 2012 | PAGE 35 | Toyota aims to double earnings

Asia’s biggest car maker, Toyota Motor Corp, forecast profit will more than double to a five-year high as it shakes off last year’s natural disasters and introduces new models to regain market share.

Asciano on verge of deal with Maritime Union

10 May 2012 | Jenny Wiggins

PRINT: 10 May 2012 | PAGE 2 | Asciano on verge of deal with union

Asciano’s new enterprise agreement is expected to be approved by the Maritime Union on Thursday after striking a deal with the owner of Patrick ports three weeks ago.

States fuming over no funding

10 May 2012 | Mark Ludlow

PRINT: 10 May 2012 | PAGE 3 | Leaders fume over no funding

The NSW, Victorian and Queensland conservative governments say they have been short-changed by the Gillard government budget.

Fuel tax weighs on heavy-truck drivers

10 May 2012 | Claire Stewart

PRINT: 10 May 2012 | PAGE 3 | Fuel tax weighs on heavy-truck drivers

Somewhere outside Melbourne yesterday, Jason Smith turned on the radio of the flat nosed rig he was driving to Brisbane to hear that the Gillard government had slapped an extra 2¢ a litre on the heavyweight users road toll.

Personal tragedy lost in politics

10 May 2012 | Fleur Anderson

PRINT: 10 May 2012 | PAGE 11 | Personal tragedy lost in politics

In politics, there is occasionally a flash of the personal stories that drive a government.

When tax is more intricate than a Swiss watch

10 May 2012 | Jeremy Chunn

PRINT: 10 May 2012 | PAGE 4 | When tax is more intricate than a Swiss watch

Australian companies tempted by the European market may think twice when they hear that establishing a base in Switzerland involves assessing the tax regime of up to 26 economic regions in the tiny land-locked nation.

Tax inflates Ford Australia loss

10 May 2012 | Mark Skulley

PRINT: 10 May 2012 | PAGE 4 | Tax inflates

Ford Australia claims to have improved its finances and operations after reporting an after-tax loss of $290 million in 2011, but has refused to speculate on when it will return to profit.

Sydney Airport demands solid proposal

10 May 2012 | Andrew Cleary

PRINT: 10 May 2012 | PAGE 4 | Airport demands solid proposal

Sydney Airport chairman Max Moore-Wilton says there will be no consultation with the government over a second airport sited at Wilton or anywhere else so long as it remains “an idea”.

Ford decides to shorten summer shutdown

09 May 2012 |

Ford Motor will shorten its “summer shutdown” at 13 plants in North America to allow it to make nearly 40,000 more vehicles as the No. 2 US auto maker strives to meet demand.

US foils plane plot

09 May 2012 |

US counter-terrorism forces have thwarted a plot by al-Qaeda’s Yemen franchise to bring down a commercial plane, seizing a sophisticated explosive device.

Take the train? You’re taking the Myki

09 May 2012 | Mathew Dunckley

PRINT: 09 May 2012 | PAGE 1 | Catch the train? You’re taking the Myki

Dunckley | I was a late adopter of Victoria’s new public transport smart card, but Me and Myki have already fallen out of love.

VIC

09 May 2012 |

Victoria gets new sports and cultural facilities in the Budget, but total funding from the Commonwealth has slipped.

Crisis free, Toyota aims for top spot

09 May 2012 | Anna Mukai

Toyota’s profit may climb to a five-year high and exceed General Motors’ earnings this year, signalling Asia’s biggest car maker is on its way back to full strength after reeling from natural disasters and a recall crisis.

Truckies to pay heavy duty for road use

09 May 2012 | Louise Dodson

Companies using heavy vehicles on public roads for business will be hit with a sharp increase in charges to reap almost $700 million for the budget bottom line.

Atlas sure of immunity from port capacity cut

09 May 2012 | Ayesha de Kretser

PRINT: 09 May 2012 | PAGE 1 | Atlas sure of immunity from cut

Atlas Iron is confident the West Australian government will ensure its export allocation at Port Hedland is not squeezed as tensions simmer in the Pilbara over rail infrastructure developments.

Capital works spending delayed

09 May 2012 |

The Gillard government’s total infrastructure spending will be cut by almost half to $4.7 billion next financial year, as it commits to funding projects after next year’s federal election.

PROJECT MAP

09 May 2012 |

The Pacific Highway, Western Ring Road and Gateway projects are included in major infrastructure funding announcements in the budget.

Port Hedland outer harbour plan founders

09 May 2012 |

PRINT: 09 May 2012 | PAGE 1 | Expansion plan founders as BHP ponders dredge cost

Jostling for space in the congested inner harbour at Port Hedland becomes even more important for the companies dependent on public user access as the threat that BHP Billiton won’t cough up the billions of dollars needed to dredge the outer harbour looms large.

Sydney Airport operator stalls for time

09 May 2012 | Andrew Cleary

The government move to begin consultation with Sydney Airport over a second major airport may come unstuck as the operator may wait until it is forced to the table.

Sydney Airport will nix any competitor

09 May 2012 | Andrew Cleary

PRINT: 09 May 2012 | PAGE 1 | Monopoly will nix any competitor

Sydney Airport’s Kerrie Mather wouldn’t be the first chief executive to shy away from consultation over a government plan to end a very comfortable monopoly.

Govt investigates Wilton for second Sydney airport

08 May 2012 | Andrew Cleary

The government has started consulting with Sydney Airport over a partnership in a second major airport within the city after announcing a detailed investigation into the suitability of the facility being built at Wilton.

Industrial sector hangs on

08 May 2012 | Nick Lenaghan

PRINT: 08 May 2012 | PAGE 2 | Industrial sector hangs on

Demand from the retail and manufacturing sectors is weak, but supply factors and port activity have given a boost to rental returns for industrial market property.

Company briefs

08 May 2012 |

PRINT: 08 May 2012 | PAGE 3 | co briefs

Virgin Australia will shift the bulk of its marketing team from Brisbane to Sydney and look to recruit up to 14 more staff for the division as the company sheds its low-cost roots to focus on winning corporate accounts.

Brisconnections to resort to discounts

08 May 2012 | Jenny Wiggins

PRINT: 08 May 2012 | PAGE 3 | Brisconnections to resort to discounts

Brisconnections, the operator of Brisbane’s Airport Link road, is planning to offer discounts to encourage drivers to use the motorway after confirming it will open nearly two months late.

NSW Coalition adviser on board that talked down rail link

08 May 2012 | Michaela Whitbourn

PRINT: 08 May 2012 | PAGE 11 | Coalition adviser on board that talked down rail link

A key adviser to the NSW Coalition is on the board of the federal infrastructure body that rejected the state government’s submission for $2.1 billion in funding for a rail link to north-west Sydney.

National briefs

08 May 2012 |

PRINT: 08 May 2012 | PAGE 11 |

The ACTU has unveiled a push for increased bargaining power, greater protection for delegates, a rise in the minimum wage and equal pay in female-dominated jobs.

Marubeni keen on US grain trader Gavilon

PRINT: Capital | 08 May 2012

Marubeni Corp said on Monday it was interested in acquiring US grain and energy trader Gavilon, establishing it as the most likely Asian buyer of the company as rival Japanese trading houses played down the chances they would bid.

Staff changes part of brand new Virgin

07 May 2012 | Andrew Cleary

Virgin Australia is bidding farewell to its bargain basement image, and hello to corporate accounts and high yield business.

Germans’ top investment destination

07 May 2012 | Lucy Gao

China has become German companies’ top foreign investment destination for the first time, securing $US1.36 billion in investment by the end of last year.

GM Holden profit equals handouts

07 May 2012 | Peter Roberts

PRINT: 08 May 2012 | PAGE 1 | GM Holden

GM Holden has reported a solid profit which exactly equates to the level of subsidy from the federal government.

Australian Infrastructure Fund (AIX)

07 May 2012 | Brendon Lau

JPMorgan has reiterated its “overweight” recommendation on Australian Infrastructure Fund and lifted its price target to $2.45 from $2.33 a share after lowering its valuation discount.

Airport Link completion delayed by two months

07 May 2012 | Elise Shaw

Updated | BrisConnections said on Monday that Thiess John Holland had advised that completion of the Airport Link toll road would be two months later than the initial June 30, 2012 deadline.

Budget airlines push Lufthansa to cut 3500 jobs

07 May 2012 | Nicola Clark

PRINT: 07 May 2012 | PAGE 4 | Budget airlines push Lufthansa to cut 3500 jobs

Faced with soaring fuel costs and escalating competition on its European routes, Lufthansa will eliminate 3500 administrative jobs in a bid to improve its profitability.

RiverCity bids may hit $500 million

07 May 2012 | Jenny Wiggins

PRINT: 07 May 2012 | PAGE 2 | RiverCity bids may hit $500m

RiverCity Motorways, the owner of Brisbane’s Clem Jones Tunnel, is expected to attract bids of about $500 million when it is put up for sale towards the end of the year.

World briefs

07 May 2012 |

PRINT: 07 May 2012 | PAGE 13 |

South Korea’s Financial Services Commission has ordered four mutual savings banks to halt operations for six months because they failed to meet the regulator’s financial strength criteria.

Cairns Airport looks for boost from China deals

07 May 2012 | Fiona Carruthers

PRINT: 07 May 2012 | PAGE 8 | Cairns Airport looks to China deals for boost

Queensland’s Cairns Airport is negotiating with two major Chinese airlines to begin direct flights from Shanghai and Guangzhou, delivering an extra 150 000 tourists each year – worth more than $80 million to the region.

Brace, brace – but not just yet

05 May 2012 |

PRINT: 05 May 2012 | PAGE 17 | Brace, brace – but not just yet

Alan Joyce has come out and said what insiders have been saying for months: there’s a war coming, not just in capacity but encompassing widespread discounting.

Qantas ups ante with Virgin

05 May 2012 | Andrew Cleary

PRINT: 05 May 2012 | PAGE 1 | Qantas bangs war drum

Qantas Airways chief Alan Joyce has warned investors to brace for weaker yields in the domestic market next year as the Flying Kangaroo and Jetstar fight back with extra seats to fend off Virgin Australia’s recent advance.

Qantas chief Joyce defends tactics

05 May 2012 | Matthew Stevens

PRINT: 05 May 2012 | PAGE 2 | Qantas chief defends tactics

Stevens | “No, I am not a bully,” chuckled Alan Joyce. “Then again, I don’t see anything in my job description that says I have to make way for my competition.”

Dispute resolution boards provide ‘insurance’ for PPPs

05 May 2012 | Michaela Whitbourn

PRINT: 05 May 2012 | PAGE 3 | ‘Insurance’ for PPPs

Dispute resolution panels in public-private partnerships are a way to prevent potential conflicts from erupting between government and industry, according to Infrastructure NSW chairman Nick Greiner.

In-flight iPhone fire due to dodgy repairs

04 May 2012 |

A report has found that smoke coming from a burning Apple iPhone was caused by dodgy repairs resulting in a punctured battery rather than spontaneous combustion.

NZ government selling down Air NZ stake

04 May 2012 | Sarah Thompson and Anthony Macdonald

There is a large line of Air New Zealand shares to be sold over the coming year or two, and it looks like a sale Credit Suisse would be more than happy to handle.

Newman hopes for answers on petrol prices

04 May 2012 |

People are deeply suspicious about petrol pricing and a new competition watchdog probe is welcome, Queensland Premier Campbell Newman says.

Qantas returns fire in capacity war

04 May 2012 | michael smith

Qantas CEO Alan Joyce has returned fire against rival Virgin in the domestic aviation market; his plans to stack on more capacity, though, come at a cost.

Asciano (AIO)

04 May 2012 | Brendon Lau

Morgan Stanley has upgraded Asciano to “overweight” from “equal-weight” and lifted its price target by 10¢ to $5.50 a share as it believes the market has an overly bearish view on the company.

Qantas to delay new A380s, boost domestic capacity

04 May 2012 | Andrew cleary

Qantas Airways will delay the delivery of two more Airbus A380 super jumbos to trim more capital expenditure from its international operations and boost peak period capacity on key domestic routes.

GM’s outlook falls short of expectations

04 May 2012 |

General Motors offered investors a disappointing outlook for the upcoming six months in North America, raising questions about the US economy’s recovery.

Lufthansa to cut 3500 jobs to boost profitability

04 May 2012 |

Faced with soaring fuel costs and escalating competition within Europe, Lufthansa said that it would eliminate 3500 administrative jobs as part of a wide-ranging effort to improve its profitability.

Cheer up and fly on

04 May 2012 |

PRINT: 04 May 2012 | PAGE 48 | Cheered while you wait

Australian politicians who like to dance around the question of whether Sydney needs a second airport might feel at home in Dalian Airport in China.

World briefs

04 May 2012 |

PRINT: 04 May 2012 | PAGE 41 | World briefs

International travellers face disruption at airports and ports across Britain next week after unions representing border guards announced a one-day strike.

Jaguar goes into top gear

04 May 2012 | Graham Ruddick

PRINT: 04 May 2012 | PAGE 3 | Jaguar goes into top gear

Jaguar Land Rover is planning to expand its plant at Castle Bromwich in the English Midlands to build new Jaguar models and spark an overhaul of the brand.

Demand drives BMW profit

04 May 2012 | Chris Reiter

PRINT: 04 May 2012 | PAGE 24 | Demand drives BMW profit

Bayerische Motoren Werke, the world’s largest maker of luxury vehicles, reported first-quarter profit that beat analyst expectations as demand for the revamped 1-Series compact fuelled record deliveries.

Company briefs

04 May 2012 |

PRINT: 04 May 2012 | PAGE 24 |

Optus and Vodafone Hutchison Australia have struck a multimillion-dollar deal to share and build critical infrastructure to bolster their networks and prepare for the battleground of superfast “4G” mobile.

Virgin urges ACCC to keep an eye on Qantas

04 May 2012 | Andrew Cleary

PRINT: 04 May 2012 | PAGE 2 | Virgin urges ACCC to watch Qantas

Qantas “bullying” will not prevent Virgin Australia going ahead with plans to add flights and seats on domestic routes, says chief executive John Borghetti.

National briefs

04 May 2012 |

PRINT: 04 May 2012 | PAGE 16 |

Canberra Airport has dropped a Supreme Court of NSW challenge to the proposed housing development at South Tralee, 10 kilometres from the airport.