$350m revamp for city eyesore – The West; State refuses to rule out Freo port sale – The West; US giant affirms Woolies venture – The Aus; Floating Browse a cheaper option – The Fin; IOH on the lookout for partner in large-scale Pilbara salt operation – The West
$350m revamp for city eyesore
A $350 million office, residential and retail precinct boasting three skyscrapers is set to transform Perth's former Emu Brewery site that has been vacant for 20 years. The West
State refuses to rule out Freo port sale
The state government has refused to rule out selling assets and privatising its remaining stevedoring functions at Fremantle port, in a move that has inflamed already tense negotiations with the Maritime Union. The West
US giant affirms Woolies venture
US hardware giant Lowe’s has moved to quash speculation it might be a less than committed partner for Woolworths in the battle with Bunnings over the $12.3 billion hardware retailing market, indicating it has no intention of selling out of the newly launched Masters joint venture. The Aus
Floating Browse a cheaper option
Woodside Petroleum's Browse liquefied natural gas project would need oil prices to average more than $US105 a barrel to make an economic return in its current format, strengthening the argument for its to be developed as a floating venture. The Fin
IOH on the lookout for partner in large-scale Pilbara salt operation
Iron Ore Holdings is on the lookout to develop what the Kerry-stokes backed iron ore junior believes could be a large-scale industrial salt operation in the Pilbara. The West
THE WEST AUSTRALIAN:
Page 1: A $350 million office, residential and retail precinct boasting three skyscrapers is set to transform Perth's former Emu Brewery site that has been vacant for 20 years.
Page 3: WA hospitals have scored the best in the first league table showing how quickly emergency patients around the country are admitted or discharged.
Page 4: Business and environment groups were last night scrambling to work out the extent of damage caused by freak floods in Collie and the South West this week.
Page 9: Christmas stock headed for Fremantle port could be left to languish at sea after port workers announced an eight day strike from Monday morning.
Workers shed by WA's mining sector are flooding into other parts of the state's job market.
Page 13: The way the mining boom has changed where and how West Australians work has been laid bare by figures showing the extent of the flight to the regions.
Page 16: The City of Cockburn is considering an ocean swimming pool between Coogee Beach and the Island Street groyne in response to the recent WA shark attacks.
Page 28: Transport Minister Troy Buswell's brainchild of an expressway to the airport should also be Perth's first toll road, according to WA's foremost infrastructure and transport expert.
Page 32: The federal government has been cautioned by an international think tank against increasing unemployment benefits, arguing it could undermine efforts to drive down the number of jobless.
Business: The state government has refused to rule out selling assets and privatising its remaining stevedoring functions at Fremantle port, in a move that has inflamed already tense negotiations with the Maritime Union.
Former Macmahon boss Nick Bowen would need to stump up $2.5 million if he takes part in the contractor's $80 million capital raising.
Iron Ore Holdings is on the lookout to develop what the Kerry-stokes backed iron ore junior believes could be a large-scale industrial salt operation in the Pilbara.
Torrential rain in Collie has added intrigue to a bitter legal battle ensnaring Lanco Infratech's Griffin Coal operations in the South West town.
As more analysts added their voice to the chatter about BHP Billition divestments, it appears the Big Australian's WA nickel assets are safe for now.
Disgruntled shareholders have put National Australia Bank's board on notice by lodging protest votes against the remuneration report and the re-election of chairman Michael Chaney and finance director Mark Joiner.
Market analysts have backed GrainCorp's claim that a revised takeover offer from Archer Daniels Midland undervalues the Australian company.
Iluka Resources' strategy of pulling back production to support the price of its mineral sands products has failed to pay off, with the company yesterday punished on the market again warning its margins were under threat from falling prices.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: Investors would be required to pass an online exam before investing in complex or risky products in the wake of the Banksia Securities, Trio Capital and MF Global collapses, under a proposal by Greg Medcraft, the chairman of the Australian Securities and Investments Commission.
The US Federal Reserve's decision to print money has dashed hopes for a lower Australian dollar and triggered warnings the Reserve Bank of Australia's ability to lower the currency using interest rates is waning.
National Australia Bank chairman Michael Chaney has declared this will be his last term on the board as the bank comes under criticism from investors over its languishing share price and failed strategy in the UK.
The Gillard government will use the budget in May as a policy and political springboard for next year's election campaign and set out a medium-term fiscal position that seeks to wedge the Coalition politically.
Page 4: Energy Minister Martin Ferguson said Australia is unlikely to create many new green manufacturing jobs because of the difficulty competing against low cost foreign manufacturers, a concession that undercuts the government's pitch for the carbon tax.
Page 5: The Coalition has dismissed the criticisms of a federal court judge to rally behind Mal Brough and predict he will have an illustrious career after he re-enters Parliament next year.
Page 10: A reviewer of goods and services tax distribution is challenging claims by West Australian Premier Colin Barnett the state is not getting a fair share of the $50 billion GST pie even though it is a big payer.
Page 13: Westpac Banking Corp chairman Lindsay Maxsted has staunchly defended the bank's remuneration practices and the payment of an $8.6 million sign-on bonus to newly recruited executive Brian Hartzer, denying Westpac breached any guidelines around pay.
Page 15: Australia's largest agricultural company GrainCorp has rejected a sweetened $2.8 billion offer from Archer Daniels Midland, which could force the world's largest corn processor to lift its offer for a third time or launch its first hostile acquisition.
Page 16: Iluka Resources' earnings are likely to come under further pressure next year with analysts tipping that a recovery in demand for mineral sands is at least six months away.
Woodside Petroleum's Browse liquefied natural gas project would need oil prices to average more than $US105 a barrel to make an economic return in its current format, strengthening the argument for its to be developed as a floating venture.
THE AUSTRALIAN:
Page 1: Julia Gillard’s national health reforms are in danger of missing their first targets as most patients spend up to 15 hours in emergency wards, despite a vow last year to reduce delays to a fraction of the time.
The Australian Taxation Office has targeted Nathan Tinkler’s sporting assets in its ongoing pursuit of the one-time billionaire, putting the future of two of the nation’s top-flight football clubs at risk.
Page 2: Former Liberal Victorian premier Jeff Kennett has called for the Council of Australian Governments to be abolished, declaring it has become an ‘‘animal that is eating government’’, slowing GDP growth and bogging down the political decision-making process.
State treasurers are seeking a tax deal with Canberra next week to add billions of dollars to their budgets in the first step to major reforms that could one day include an overhaul of the GST.
Page 4: The kingpins of an allegedly corrupt $500 million coal development project feared public exposure could reveal the involvement of former NSW Labor MPs Ian Macdonald and Eddie Obeid, the state’s corruption watchdog heard yesterday.
Page 5: Labor has attempted to draw Tony Abbott into the plot to politically destroy the former Speaker Peter Slipper as senior Coalition figures yesterday stood behind one of the saga’s key players, former Howard government minister Mal Brough.
Page 7: The union representing Centrelink workers has accused the Department of Human Services of reneging on an agreement to maintain current staffing levels in its call centres, arguing there are 211 ‘‘missing’’ staff on the eve of the busiest period of the year.
Business: US hardware giant Lowe’s has moved to quash speculation it might be a less than committed partner for Woolworths in the battle with Bunnings over the $12.3 billion hardware retailing market, indicating it has no intention of selling out of the newly launched Masters joint venture.
Westpac chief executive Gail Kelly has urged the Reserve Bank to cut interest rates further early next year to boost confidence, as the nation’s second-largest lender warns that struggling businesses are seeing their equity eroded by the challenging conditions.
National Australia Bank chairman Michael Chaney has confirmed that his current term is likely to be his last at the bank, with the former Wesfarmers chief set to step aside at the end of his new term.
Just Jeans parent company Premier Investments is getting closer to making a much-anticipated acquisition after stacking its management ranks with high-calibre retailers.
ExxonMobil and BHP Billiton will spend $1.14 billion building a plant to remove carbon dioxide from gas at the big KipperTuna-Turrum project in Bass Strait, bringing the cost of the development to $5.5bn.
Mineral sands producer Iluka is to finish off a tough year on the price and demand front by idling most of its operations across the Christmas period.
Regional publisher APN News & Media has spoilt the pre-Christmas party on the market for Australian publishing companies after unveiling a 10 per cent-plus profit downgrade yesterday.
Virgin Australia has doubled its contribution to Tourism Australia as it moves to partially fill the gap left by the row between Qantas and the body’s chairman, Geoff Dixon.
Air New Zealand will continue to build its brand in Australia and forge closer ties with Virgin Australia under new chief executive Christopher Luxon.
THE SYDNEY MORNING HERALD:
Page 1: A tram network will be built in central Sydney to head off heavy traffic congestion. The tax office has moved to liquidate the rugby league and soccer teams owned by Nathan Tinkler as it tries to recover $3.8 million from the troubled businessman. A study has revealed Twitter users tend to lean to the political left and talkback radio callers to the right.
Page 2: A corruption inquiry has heard an investment banker hoped the Australian stock exchange would not uncover dodgy dealing relating to the sale of shares in a coal company.
Page 3: A navy captain who falsely claimed spousal allowances while having several affairs won't go to jail but will be fined $13,000 and stripped of his rank.
Business: 21 per cent of NAB shareholders voted against the company's renumeration report, falling just short of the 25 per cent mark which would have put the bank's board closer to a spill.
World: A successful rocket launch by North Korea is expected to bolster support for conservatives and nationalist in South Korea and Japan.
Sport: Wayne Bennett's future will be in jeopardy if Nathan Tinkler loses control of the Newcastle Knights rugby league club.
THE DAILY TELEGRAPH:
Page 1: Nathan Tinkler is on the verge of losing the Newcastle Knights and Newcastle Jets as the tax office moves to recoup millions it says it's owed by the embattled businessman.
Page 2: Former Hey Dad! star Robert Hughes, who returned from the UK to face child sex charges, has been released on $50,000 bail.
Page 3: Police have taken to Facebook to explain why they apprehended a goat in central Sydney in August.
Business: Banks have renewed their attack on red tape, capital regulation and tax, saying it's putting economic growth at risk.
World: The Pope has sent his first Tweet with assistance from staff.
Sport: National sporting bodies governing the Newcastle Knight and Newcastle Jets have moved to allay fears that the franchises will collapse.
THE ADELAIDE ADVERTISER:
Page 1: A teenager who was busted impersonating doctors at Adelaide hospitals was sacked as a St John Ambulance volunteer last month.
Page 2: Premier Jay Weatherill spends Thursday acting as deputy editor of The Advertiser newspaper.
Page 3: Adelaide's newest university campus will attract hundreds of Spanish and Latin American students keen to study and work in Australia.
World: The satellite launched by North Korea's long-range rocket is in operational orbit, South Korea's defence ministry says, confirming the success of Pyongyang's stated space mission.
Business: Global giants, ExxonMobil and BHP Billiton will spend $1 billion upgrading the Longford gas plant in Victoria in a project that will create about 250 construction jobs.
Sport: Australian skipper MIchael Clarke has defended the tactical decision not to promote himself in the batting order to replace retired champion Ricky Ponting for the first Test against Sri Lanka today at Hobart.
