Top Iron Miners’ Cash Juggernaut Set to Survive Price Crash

The world’s biggest iron ore miners will be able to withstand the expected plunge in prices because their race to cut production costs has dramatically lowered the industry’s margin pressure point, allowing them to keep fueling a cash juggernaut that’s revived the mining sector. More than 90 percent of producers in the global seaborne market can generate profits at a benchmark price of $60 a metric ton, Adrian Doyle, a Sydney-based senior consultant at researcher CRU Group, said by phone.

AVALON: Boeing’s Australian innovations see light of day

Collaborative robotics, virtual reality and aircraft cabin disease transmission prevention are among the latest projects under way at Boeing Research and Technology-Australia – the manufacturer’s largest research organisation outside of the United States. Boeing’s Australian research organisation – based in Melbourne and Brisbane – has been at the forefront of numerous pioneering developments that have been rolled out by the aerospace giant.

Boss delivers dire warning about Amazon

Gerry Harvey said Amazon was “not a good corporate citizen” and if Australia had a choice, it should stop the retailer coming in, “like Donald Trump not letting the Muslims in”. Photo / 123rf Harvey Norman boss Gerry Harvey has slammed Amazon as a “parasite” that “contributes virtually nothing to society”, saying Australia should enact a Donald Trump-style ban on the e-commerce giant.

SA pork processor announces $14 million expansion

Big River Pork is set to become one of the largest pork processors in the country following a $14 million expansion at its plant in Murray Bridge, South Australia. The expansion will create an estimated 140 new jobs and benefit local farmers, transport operators, feed suppliers, and other participants in the local pork industry.

Barrick Sale of Super Pit Stake to China Buyer Said to Stall

Barrick Gold Corp.’s plan to sell its stake in the Kalgoorlie Super Pit mine to a Chinese bidder has stalled, as the buyer faces delays securing financing for the $1.3 billion deal, people with knowledge of the matter said. Minjar Gold Pty, a unit of property developer Shandong Tyan Home Co., is also still seeking Chinese regulatory clearance for the purchase, according to the people.

Big telcos may take wi-fi away from rural families: provider

A small internet provider helping to end the data drought in regional southern Queensland says it could soon be outbid by larger internet companies on digital spectrum access, thanks to a review by the Australian Communications and Media Authority . Toowoomba-based company Red WiFi has been using elevated positions on silos, water tanks and sheds to install dishes that stream wireless internet across rural communities, offering unlimited data to hundreds of families.

Amazon launches Aussie jobs bonanza

Amazon is setting up shop Down Under, with local warehouses set to open in September, allowing customers to get items delivered in lightening speed. The company is officially on a hiring spree, with more than 100 roles advertised in IT, marketing, sales and HR – and that’s just the beginning.

Construction of powerful ASKAP telescope on ‘home stretch’

Construction of the Australian Square Kilometre Array Pathfinder telescope is on the “home straight” with the project expected be fully operational within 12 months. Located in the heart of the Murchison, about 350 kilometres northeast of Geraldton, the telescope is made up of 36 identical 12-metre wide dish antennas, with a third of them currently operational.

Billionaire Li Ka-Shing Sweetens Duet Offer to $5.5 Billion

Billionaire Li Ka-shing agreed to buy Duet Group in a A$7.4 billion deal, sweetening an earlier offer, as the Hong Kong tycoon seeks to expand his infrastructure assets in Australia to diversify away from Europe. In the revised bid, endorsed by Duet, investors will receive A$3.03 for each share in the energy company after including a newly announced special dividend of 3 cents a share, according to statements from the companies.

Not me, guv’nor

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Australia police: Christmas Day bomb plot foiled, 5 detained

Police in Australia have detained five men suspected of planning a series of Christmas Day bomb attacks in the heart of the country’s second-largest city, officials said Friday. The suspects had been inspired by the Islamic State group and planned attacks on Melbourne’s Flinders Street train station, neighboring Federation Square and St. Paul’s Cathedral, Victoria state Police Chief Commissioner Graham Ashton said.

Three dead after car crash in Bucca near Bundaberg, Queensland

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