How to tank a mining company with one press release

A FAKE press release reveals to one mining company the true power of the press, a union pulls their super out of news corp citing management concerns and the IMF calls John Howard the most wasteful PM in Australian history.

Holden's engine plant days could be numbered

HOLDEN'S $400 million Port Melbourne engine plant could shut by the end of the decade.

A push for fuel efficiency and the high Australian dollar have cast a cloud over the future of the plant that exports more than 50,000 engines annually and supplies the locally-produced Commodore.

"Maybe we should be building more fuel-efficient cars?" said nobody at Holden.

Australian LNG industry shrugs off potential threat from US

THE threat of an American energy boom eating into our blossoming gas industry has been shrugged off by major industry players and its national peak body.

A report from the United States by Deloitte suggested that as the US flooded the international market with huge amounts of shale gas, it would steal customers from Australia's growing liquefied natural gas sellers.

Australian companies hope to mitigate the effect of LNG ships coming from the USA by pointing in the wrong direction and telling them China's "that way".

Gillard's budget position may be vindicated yet

THE surging price of iron ore could see the Gillard Government's budget position strengthen, despite reportedly no revenue from the mining tax for the second quarter since its introduction last year.

Conversely, Deloitte economists predicted a "pothole in growth in 2014-15", with the huge mining construction sector to slow before the expanding LNG exports hit their straps.

A Labor spokesperson took credit for the price increase, saying it "was totally on purpose."

First Super dumps News Corp stake

THE industry superannuation fund First Super says it is selling its investment in News Corporation due to concerns about the company's corporate governance.

The fund is partly controlled by the Construction, Forestry, Mining and Energy Union.

Representatives from the Used Car Sales Association applauded the union on their commitment to ethical management practices.

ANZ hoaxer facing jail despite no profit motive

THE activist who caused a $314 million temporary plunge in Whitehaven Coal's share price could face 10 years in jail, despite having no intention of personally profiting from his fake press release.

Jonathan Moylan sparked a 9 per cent fall in Whitehaven's share price by issuing a fake press release purporting to be from ANZ and claiming the bank had pulled a $1.2 billion loan from the company because of environmental concerns over its Maules Creek development.

PR copywriters everywhere are still in shock that the plan worked.

Howard rejects IMF's 'profligate spender' tag

A STUDY of government spending in 55 leading economies has found Australia's most wasteful was during four years of the Howard Government.

The International Monetary Fund measured 200 years of government actions, finding spending was most "profligate" during 2003 and 2005-07.

Mr Howard denied the findings, pointing to his complete lack of infrastructure spending as proof of his unwillingness to spend.