Swan takes axe to spending – The West; Greek PM steps down for unity government - The Fin; Patchy global action 'turns carbon modelling on head' – The Aus; Austal Philippines move – The West; Pathetic Swan wrong: Forrest – The West
Swan takes axe to spending
Budget spending will be slashed in order to keep the government on track for a return to surplus next year, despite a warning that this could weaken a fragile economy. The Aus
Greek PM steps down for unity government
Greek Prime Minister George Papandreou has agreed to step down and political leaders will meet later on Monday to form a new unity government in a bid to break the political deadlock and pave the way for an EU bailout for the debt-stricken country. The Fin
Patchy global action 'turns carbon modelling on head'
The carbon tax will have a vastly bigger impact on productivity, wages and the cost of living than ‘‘highly optimistic’’ Treasury calculations indicate, claims the Minerals Council of Australia. The Aus
Austal Philippines move
Austal hopes to begin producing vessels from a third shipyard early next year after securing a $12 million deal to open a new regional beach-head in the Philippines. The West
Pathetic Swan wrong: Forrest
Fortescue Metals Group chief Andrew Forrest has hit back at Treasurer Wayne Swan, describing him as “pathetic: over comments made about the government's controversial mining tax. The West
THE WEST AUSTRALIAN:
Page 3: The Australian Greens have thumbed their noses at the Labor Party by deciding to run an open ticket in the next federal election rather than direct preferences in the Lower House.
Page 5: West Coast Eagles membership prices for next year have risen up to 13 per cent, with family memberships among the hardest hit.
Page 6: The coalition is considering whether its industrial relations policy should wind back the scope for unions to take action over issues such as the structure of a company's workforce.
Page 7: Fortescue Metals Group chief Andrew Forrest has hit back at Treasurer Wayne Swan, describing him as “pathetic: over comments made about the government's controversial mining tax.
Page 8: Real estate agents wan the Federal government to abandon plans for a carbon price on every home amid claims it could add $1000 or more to selling or renting a property.
Business: Austal hopes to begin producing vessels from a third shipyard early next year after securing a $12 million deal to open a new regional beach-head in the Philippines.
Greek Prime Minister George Papandreou, trying to preserve international aid before the nation runds out of money next month, raced yesterday to form a unity government after the opposition's leader rejected his offer.
Australia's powerful banking regulator has warned banks not to cut too deeply into their cost base as long as the lending environment is subdued, saying it could compromise the bank's safety nets.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: The federal government is scrambling to keep its promise to return the budget to surplus next financial year with health spending a key focus.
A new dispute is threatening to replicate key aspects of the Qantas row as unions take action that could have been illegal under the Howard government.
Greek Prime Minister George Papandreou has agreed to step down and political leaders will meet later on Monday to form a new unity government in a bid to break the political deadlock and pave the way for an EU bailout for the debt-stricken country.
Page 3: Prime Minister Julia Gillard will seek more support for Australia's bid to revive stalled Doha trade talks when APEC meets in Hawaii this week.
Page 7: Qantas' offer of 100,000 free air tickets has been welcomed by tourism operators as a much-needed confidence kicker for the domestic travel sector.
Page 15: Two years on from the float of Myer, private equity's attempts to restore its battered reputation have taken another blow as Collins Foods' shares plunge over 50 per cent just three months after listing.
Page 16: The level of shareholder protests over excessive executive pay is expected to reach record levels at annual general meetings this week.
While Coles managing director Ian McLeod's $15.6 million pay packet may still be raising eyebrows, Wesfarmers' remuneration report has won support.
Page 17: Paul O'Sullivan says Optus has a “huge opportunity” to expand in the fixed-line broadband market now Telstra has handed its monopoly to the government NBN.
THE AUSTRALIAN:
Page 1: Budget spending will be slashed in order to keep the government on track for a return to surplus next year, despite a warning that this could weaken a fragile economy.
The carbon tax will have a vastly bigger impact on productivity, wages and the cost of living than ‘‘highly optimistic’’ Treasury calculations indicate, claims the Minerals Council of Australia.
Business has lashed the Labor government’s industrial relations laws as stripping balance from the system and hindering productivity.
Page 2: Cabinet will consider a radical overhaul of the Gillard government’s indigenous jobs strategy for Aborigines living in remote communities, with new one-stop economic development shops built to get people working.
Page 4: Greens leader Bob Brown has wrapped up the party’s national conference in Perth with a stark warning to Labor not to take his party for granted.
Opposition finance spokesman Andrew Robb was excluded from the meeting where the Coalition’s leadership group decided it would not oppose the government’s planned increase to compulsory superannuation.
Page 5: Tens of thousands of temporary offshore workers will be brought to Australia next year under a scheme by the Gillard government designed to break the $700 million infrastructure bottlenecks in ports, railways, mines, roads and civic facilities.
Page 6: Transport Workers Union boss Tony Sheldon has continued his tough talk over the Qantas dispute, saying he does not believe a settlement within 21 days is likely, given the airline’s attitude.
Page 7: Coal-seam gas could be an environmental and social disaster for regional Australia without the correct management, the Nationals have warned.
Confidential advice to Environment Minister Tony Burke about coal-seam gas developments in southern Queensland has highlighted further uncertainties about the impact on groundwater and salinity.
Business: Australian investors are crying out for leadership and are backing businesses with chief executives they trust as they look for a break in a volatile investment cycle.
Stockmarket analysts have dramatically pared their corporate profit forecasts, with more downgrades expected as the European crisis casts a pall over economic prospects.
The slowing Chinese economy and slumping iron ore prices are expected to cause a dramatic slide in the nation’s terms of trade which threatens Labor’s plan to have the budget back in surplus by next year.
New US whistleblower rules could see Australian workers turn sleuths in the hope of discovering corporate wrongdoings and reaping millions of dollars in rewards.
A quality ore body, a Chinese joint-venture partner and a key location was the three-part strategy that emerging miner Gindalbie Metals implemented from day one to grow from a junior player to the overseer of a $2.7 billion iron ore project.
Westpac chief executive Gail Kelly has thrown her weight behind more interest rate cuts to boost consumer confidence in the face of the deteriorating European debt crisis.
Developers are expected to release more housing lots over the next five years as the nation’s housing market bottoms out and starts to grow again, according to new research.
THE SYDNEY MORNING HERALD:
Page 1: Parts of Sydney remain monocultural and would benefit from a deeper understanding of Asian culture and languages, Premier Barry O'Farrell has declared as he prepares for his first official trip to India. A radical plan to convert large parts of the CityRail network to single-deck high-frequency trains is closer to winning state government acceptance.
Page 2: Criminal syndicates that exist just to launder other criminals' black cash are an emerging trend to cater for the massive growth of organised crime which needs new ways to hide ill-gotten gains.
Page 3: Labor's promise of a budget surplus next financial year has turned to ashes.
World: The Church of England has launched a fierce attack on bankers, accusing them of greed and having "slipped their moral moorings".
Business: Genworth Financial, the US home-loan guarantor and life insurer, will sell a stake in its multi-billion-dollar Australian mortgage insurance business next year.
Sport: Cricket's anti-corruption and security unit is set to be overhauled to make it more effective in the sport's fight against match-fixing.
THE DAILY TELEGRAPH:
Page 1: Principals and teachers are abused, threatened or bashed daily in schools by violent students, angry parents or intruders with a grudge. The father of Sydney schoolgirl Sophie Delezio, who survived two freak accidents, has had his own brush with death.
Page 2: The case of the Australian teenager arrested for drug possession in Bali could be severely damaged by claims he would receive up to $300,000 for telling his story on national television.
Page 3: Retirees face a potential freeze on their superannuation accounts to prevent them from withdrawing all their savings in one lump sum.
World: Islamists have claimed responsibility for a wave of bomb and gun attacks that killed at least 150 people in northern Nigeria.
Business: Australian governments must undertake fundamental fiscal change to avoid a company tax rate of 67 per cent or a GST rate of 24 per cent, Deloitte Access Economics has warned.
Sport: Controversial caddie Steve Williams will be kept away from Tiger Woods at the Australian Open in Sydney after he made a racist remark about his old boss.
THE AGE:
Page 1: Labor's promise of returning a budget surplus next financial year in ruin, says forecaster. Young woman says psychiatric hospital failed to report her rape to police. Kew school principal faces charges of bullying a senior staff member.
Page 2: A male psychiatric nurse who was banned for stalking a female patient employed by Southern Health. Premier Ted Baillieu says he's committed to negotiating a pay deal with nurses despite reports he wants it to go to arbitration.
Page 3: UK scientists develop life-long vaccine that could end winter flus. Greens to unroll their Denticare scheme. Bali boy's parents accused of abusing the rights of their son by accepting TV deal. More top secret defence documents go missing.
World: Door open for Aung San Suu Kyi's deregistered party to re-enter politics in Burma.
Business: Bankers loosen the ties on embattled retail landlord Centro with refinancing package.
World: Archie Thompson says Melbourne Victory's draw with just nine men against Brisbane Roar the highlight of his career.
THE HERALD SUN:
Page 1: Family await apology after daughter murdered by a man on parole after a bureaucratic bungle.
Page 3: Eddie McGuire joins Fox Footy. Grand Prix tries to recruit Pippa Middleton for next year's Melbourne race.
World: Talks continue in Athens to form a unity government.
Business: Falling demand for new houses in Melbourne to continue in coming years, says BIS Shrapnel.
Sport: Blues coach Brett Ratten expects his team to challenge Geelong and Collingwood for the flag.
THE COURIER MAIL:
Page 1: The University of Queensland is being investigated by the Crime and Misconduct Commission for the unorthodox enrolment of the husband of an academic.
Page 2: The bodies of three soldiers killed by a rogue Afghan army sergeant were returned to their families in a moving ceremony in Brisbane on Sunday.
Page 3: A senior LNP member complained of an alleged bet between party treasurer Barry O'Sullivan and Sunshine Coast official Greg Newton where the winner was promised a trip to Bali with two virgins.
World: Greek leaders were poised for a fresh round of talks to break the political deadlock over efforts to form a unity government and keep the country in the eurozone.
Business: India is coming to Australia to shop for coal, with its urban population forecast to rise from 340 million to 590 million in the next 20 years.
Sport: Jonathan Thurston has called for Tony Williams to be cleared for Australia's Four Nations final, after Kiwi Russell Packer only got one week for his forearm to the head of Darren Lockyer in Newcastle last month.
THE ADELAIDE ADVERTISER:
Page 1: A special investigations unit that's supposed to catch foster carers and workers who abuse children in state care has failed to deliver a conviction in seven years.
Page 3: Treasury has been implicated in the printer cartridge for gifts scandal.
World: Greek leaders are poised for a fresh round of talks.
Business: Australian governments must undertake fundamental fiscal change to avoid a company tax rate of 67 per cent, Deloitte Access Economics says.
Sport: Adelaide United players face a twitter and facebook ban.
