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Rinehart's Fairfax move shows wealth of state

Premier Colin Barnett has touted the wealth of Western Australia’s industry barons, after one of the state’s mining billionaires, Gina Rinehart, spent nearly $200 million increasing her stake in publisher Fairfax Media. Mr Barnett used the move by the nation’s wealthiest person to highlight the economic power of the resources boom state, saying more national businesses were going to be owned or have significant shareholdings by Western Australians. “Little old Wesfarmers purchased Coles, Kerry Stokes has purchased Channel 7 nationally, ...

Exclusive: Tax Office Glitch On Deadline Day

January 31 is the traditional on-line self-assessment deadline day for many taxpayers 6:52pm UK, Tuesday January 31, 2012 The glitch comes as Her Majesty’s Revenue and Customs (HMRC) is inundated with thousands of on-line returns on the last day that self-assessment forms are normally accepted.

Households' insurance bills to jump 13%

Households will be hit with double-digit percentage jumps for insurance for a second year as insurers restore profits after the industry’s worst year on record for disaster claims, a survey finds. Floods, hailstorms, and New Zealand’s earthquakes took their toll in 2011, with QBE Insurance Group, Insurance Australia Group (IAG), Suncorp and Wesfarmers Insurance recently warning that their earnings would be cut as a result.  Now households will pay, with insurers anticipating to hike premium rates by 13 per cent ...

RBS Boss Caves In And Waives £1m Bonus

To view this content you need Flash and Javascript enabled in your browser. Please download Flash from the Adobe download website. 11:09pm UK, Monday January 30, 2012 The Royal Bank of Scotland has announced that its chief executive Stephen Hester has decided to waive his £1m bonus. The news came just hours after the Labour Party stated it would force a House of Commons vote calling for Mr Hester to be stripped of his shares-only payment.

Barnett's staffer quits over emailed photo

A media adviser for Premier Colin Barnett has resigned after admitting he leaked false information to the media about Opposition Leader Mark McGowan and circulated a photograph of his house. James Larsson sent a text message to journalists on January 16, saying Mr McGowan was at a pub. Mr McGowan was actually at home with his kids at the time. Mr Larsson also sent an email to journalists with pics of Mr McGowan’s house at Rockingham, in Perth’s south. It has ...

Sky Sources: ‘RBS Boss To Waive £1m Bonus’

To view this content you need Flash and Javascript enabled in your browser. Please download Flash from the Adobe download website. 11:50pm UK, Sunday January 29, 2012 It comes just hours after the Labour Party stated it would force a House of Commons vote calling for Mr Hester to be stripped of his RBS bonus. Mr Hester had been facing mounting pressure to follow the bank’s chairman, Sir Philip Hampton, and forego the bonus which he was awarded this week.

RBS Boss ‘To Be Offered 12 Million Shares’

To view this content you need Flash and Javascript enabled in your browser. Please download Flash from the Adobe download website. 6:52pm UK, Saturday January 28, 2012 Tadhg Enright, business correspondent Mr Hester is already under intense pressure to refuse a bonus of just under £1m he has been awarded for his work in 2011.

RBS Boss Under Pressure To Forgo £1m Bonus

To view this content you need Flash and Javascript enabled in your browser. Please download Flash from the Adobe download website. 9:59pm UK, Friday January 27, 2012 Stephen Hester is set to receive a pat on the back worth £963,000 – and the Chancellor has defended the payout, saying “the alternatives would have been worse”. George Osborne told Sky News that he had always stated “pay across banking and financial services are too high, but this pay was set by ...

Western Power's Mid West plan gets ERA tick

The say economic regulator has given its nod of approval for Western Power’s near $380 million electricity transmission infrastructure proposal, designed to support new mining and renewable energy projects in the Mid West. Western Power managing director Doug Aberle stated clearing the regulatory hurdle with the Economic Regulation Authority confirmed the benefits of the project outweighed the $378.9 million first stage cost. The ERA gave its approval for the first stage today, which will see transmission lines contructed to link ...

RBS Boss Stephen Hester Gets Bonus Of Under £1m

To view this content you need Flash and Javascript enabled in your browser. Please download Flash from the Adobe download website. 9:47pm UK, Thursday January 26, 2012 Stephen Hester is to get 3.6 million shares in the bank worth £963,000, along with a salary of £1.2m. Sky News learned that RBS’s directors concurred the payout at a board meeting on Wednesday. RBS group chairman Sir Philip Hampton stated the company was “aware of the difficulties in trying to reconcile the ...