Revolt grows over Labor's mining tax – The Fin; Big two poised for brand wars – The West; Europe's $287bn carbon 'waste' – The Aus; Innovate, co-operate and stop whingeing to win work – The West; Rate cut 'hinges on Europe' – The Fin
Revolt grows over Labor's mining tax
Key members of the Henry taxation review panel and taxation experts have criticised the design and implementation of the mining tax, declaring the result a “dog's breakfast”. The Fin
Big two poised for brand wars
Australian supermarket giants Coles and Woolworths have lodged hundreds of trademark applications for new house brand goods in a push that will further squeeze brand owners and manufacturers. The West
Europe's $287bn carbon 'waste'
Swiss banking giant UBS says the European Union’s emissions trading scheme has cost the continent’s consumers $287 billion for ‘‘almost zero impact’’ on cutting carbon emissions, and has warned that the EU’S carbon pricing market is on the verge of a crash next year. The Aus
Innovate, co-operate and stop whingeing to win work
Former Queensland premier Peter Beattie has told Australia's manufacturers and engineers to “quit whingeing” about missing out on resources project contracts and instead join forces to win work that is going overseas. The West
Rate cut 'hinges on Europe'
The chance of a December interest rate cuts depends on whether Europe's sovereign debt crisis continues to worsen daily, according to economists. The Fin
THE WEST AUSTRALIAN:
Page 3: WA hospitals are spending $76 million a year treating alcohol-related illnesses and injury, with cases in the metropolitan area rising significantly, a report shows.
Page 4: Colin Barnett has accused Julia Gillard of weakening the Federation by seeking to use her review of the GST to prevent the states from increasing mining royalties.
Page 10: Federal police are investigating allegations that News Ltd offered a Federal senator a “special relationship” with favourable coverage if he crossed the floor on a vote of financial interest in the company.
The retail sector has launched a national campaign to remind Christmas shoppers how important it is to the jobs market, as shops battle a patchy economy and stiff online competition.
Page 13: Fremantle Dockers supporters have been urged to “put the issue behind them” after a new version of the much-maligned original song was announced last night as the club's battle hymn,
Page 15: Premier Colin Barnett has given his backing to embattled Western Power boss Doug Aberle, saying the utility's managing director does a difficult job well generally.
Page 16: Qantas passengers could find themselves stranded during the busy Christmas holidays after a leading unionist refused to rule out further industrial action.
Business liftout:
Page 1: Australian supermarket giants Coles and Woolworths have lodged hundreds of trademark applications for new house brand goods in a push that will further squeeze brand owners and manufacturers.
Former Queensland premier Peter Beattie has told Australia's manufacturers and engineers to “quit whingeing” about missing out on resources project contracts and instead join forces to win work that is going overseas.
Page 2: AAPT chief executive is bullish about the new business the NBN can deliver his revamped company but warns profit margins will be tight.
Page 3: Cash-strapped BlueScope Steel has embarked on a deeply discounted and dilutive $600 million rights issue in an attempt to tackle debt and turn around its fortunes.
The eurozone debt crisis threatens to spill over into Australia by pushing up bank funding costs and causing European banks to cut their exposure to Asia, economists have warned.
Page 9: Mount Gibson Iron has found a novel way of dealing with Foreign Investment Review Board concerns about its Chinese-controlled board, opting to reclassify one of its serving directors as independent.
Page 14: A case study of two of Perth's major urban redevelopment projects – Claisebrook Village and Subi Centro – revealed they delivered greater housing choices to the real estate market and successfully activated under-utillised areas but struggled to meet affordable housing targets and could have secured greater density levels.
Page 19: A big development site at one of the centrepieces of the state government's long-term plan for a more consolidated Perth will be put on the market for registrations of interest.
Page 20: After almost 20 years of planning, the City of Belmont has been given approval to add 13,000 new homes within its boundaries.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: Key members of the Henry taxation review panel and taxation experts have criticised the design and implementation of the mining tax, declaring the result a “dog's breakfast”.
Salaries for the nation's top executives have failed to recover to their pre-financial crisis highs, confirming the end of the previous explosion in pay packages.
Page 3: Tourism Australia chairman Geoff Dixon wants state tourism authorities to hand over a chunk of their marketing budgets to centralise the advertising of Australia overseas under federal control.
Qantas Airways chief executive Alan Joyce said last night he was confident Fair Work Australia would reject union demands that the airline guarantee the jobs of its workforce.
Page 5: The chance of a December interest rate cuts depends on whether Europe's sovereign debt crisis continues to worsen daily, according to economists.
Page 6: Mining companies would be given lucrative tax incentives to build permanent housing in remote mining towns and hire local workers rather than rely on fly-in, fly-out staff, under a plan by the Queensland government and local councils.
Page 7: State governments that introduce new laws to police the franchising industry will only add to red tape and should rely on existing national controls, the competition regulator says.
Page 8: The federal government has argued that a new tribunal to set pay rates in the trucking industry is driven by the “unique circumstances” of owner drivers and that similar moves are not planned in other industries.
Major retailers fear a transport pay tribunal will increase red tape and supply chain costs without necessarily improving road safety.
Page 9: The union movement will use next month's national Labor Party conference to agitate for greater scope to bargain over job security in light of the Qantas Airways dispute.
Australia Post is reportedly poised to launch into the telecommunications business, spearheaded by a former Optus executive.
Page 10: The Gillard government is searching for up to $900 million in savings to make up a budget shortfall after conceding it will fail to get its controversial private health insurance reforms through the Parliament this year.
Page 11: International financial analysts have again downgraded their forecasts of the European carbon price over coming years, amid further falls driven by the likely glut of permits and the economic slowdown in the eurozone.
Page 13: Queensland and Western Australia have warned the federal government about putting another layer of regulation on resources projects, including the burgeoning coal seam gas industry.
Page 18: Australia's biggest steelmaker has warned that capacity overhang in the developed world means margins could continue to be squeezed as it surprised investors with a hefty $600 million capital raising at a steep discount to its already battered share price.
Page 43: Japan's Mitsubishi Corp is expected to unveil a deal to buy partner Murchison Metals out of the Oakajee Port and Rail and Crosslands iron ore joint ventures in Western Australia as early as today.
Elders is negotiating with its bankers to “reset” banking covenants that it is at risk of breaching following last week's savage write-downs against its forestry business.
Page 44: Enrolments for global education provider Navitas have dropped 9 per cent as changes in immigration and education policies in Australia and overseas continue to affect business.
Page 45: Engineering group Monadelphous expects to deliver a 15 per cent increase in sales revenue in the half-year, as the Perth-headquartered company secures contracts to the booming energy and resources sector.
Page 53: Australia has three of the most expensive cities in the world for industrial property, with Sydney, Brisbane and Perth costing tenants more than $US9.85 per square foot.
Rental properties around the country are becoming scarcer as tenants hold back from moving into home ownership and new rental properties remain scarce.
The stock price of Perth-based land developer and fund manager Peet has continued to plunge following its profit downgrade last week, and is now trading 61 per cent lower than at the end of 2010.
THE AUSTRALIAN:
Page 1: Unions will launch an aggressive push to have support for contentious job security clauses enshrined in the ALP policy platform at next week’s national party conference, challenging Julia Gillard to confront ‘‘employer militancy’’ in the wake of the damaging Qantas dispute.
The states have staged an angry backlash over the Gillard government’s mining tax trade-offs, digging in for a fight over threats to claw back GST revenue and new national approval processes for coal and coal-seam gas projects.
Swiss banking giant UBS says the European Union’s emissions trading scheme has cost the continent’s consumers $287 billion for ‘‘almost zero impact’’ on cutting carbon emissions, and has warned that the EU’S carbon pricing market is on the verge of a crash next year.
Page 2: Tony Abbott has faced attack from his own Liberal Party MPS for giving the Nationals too much influence, amid growing Coalition fears that Labor’s campaign to paint him as too negative is resounding with voters.
Julia Gillard and Tony Abbott are now level-pegging on net satisfaction ratings — at minus 21 — for the first time since the carbon tax backflip was announced at the beginning of the year.
Page 4: Fewer than one in 10 iron ore and coal miners operating in Australia will earn enough profit to start paying the $11.1 billion minerals resource rent tax from next year, according to Gillard government estimates.
The Gillard government’s tax and regulatory changes risk wrecking the country’s reputation as a stable investment opportunity for multinational companies, Xstrata chief Mick Davis says.
Page 6: After three weeks of intensive negotiations with unions since the Qantas fleet was grounded, the airline still does not know which issues in its drawn-out industrial dispute will be sent to compulsory arbitration.
Page 7: The peak higher education body has rejected federal government claims the country’s universities are in strong financial shape, warning that most of the ‘‘record surplus’’ last year was earmarked for infrastructure rather than teaching students.
Business: Europe's rolling debt crisis is increasing the nation’s economic vulnerability, says Westpac chief executive Gail Kelly amid increasing signs that the waves of contagion are starting to hit Australia.
Bluescope Steel is to tap the market to raise $600 million to address its $1.56 billion debt as it struggles with weakened demand and the high Australian dollar.
Target's new managing director, Dene Rogers, has painted an optimistic picture of the Australian retail sector compared with global counterparts as he prepares to overhaul the department store’s online offering and ramp up marketing through new channels such as mobile phones.
A deal that could allow Japan’s Mitsubishi to rescue the struggling $5.9 billion Oakajee port and rail project in Western Australia may be announced as early as this morning.
China has confirmed it will spend $US1.7 billion ($1.71bn) on key sectors to bolster its domestic growth amid growing gloom about the global economic outlook.
Centro faces one last crucial hurdle in its race to merge its businesses before billions of debts fall due next month, after shareholders and junior lenders yesterday approved the $3bn deal.
Spotless Group and a handful of angry major shareholders are discussing a compromise deal that could lead to would-be buyer Pacific Equity Partners conducting due diligence for its $698 million takeover proposal.
THE SYDNEY MORNING HERALD:
Page 1: Australian Federal Police are investigating if News Ltd offered a former Nationals senator favourable coverage if he crossed the floor to vote on media legislation.
Page 2: Union strikes could leave Qantas passengers stranded during the Christmas holidays.
Page 3: Security firm Serco has been fined $15 million for failing in its duty of care to asylum seekers.
World: Egyptian elections are in chaos as protesters fight with security forces.
Business: Former Gunns boss John Gay has been charged with insider trading.
Sport: Teen talent Pat Cummins has been identified as the man to spearhead Australia's cricket revival.
THE DAILY TELEGRAPH:
Page 1: The latest asylum seekers reportedly paid $1 million to people smugglers between them.
Page 2: Opposition MPs tell Tony Abbott to tone down his negativity.
Page 3: A magistrate is frustrated at only being able to fine a woman $400 for leaving her baby boy in the car for 45 minutes.
World: Egypt's civilian cabinet has resigned in protest against a military crackdown on demonstrators.
Business: Interest rate cut speculation has pushed the Australian dollar to a six-week low.
Sport: A courtroom verdict is due against rugby league identity John Elias on match-fixing charges.
THE AGE:
Page 1: Three retired Labor MPs have reaped millions through changes to rural water trading rules made by the former Brumby government.
Captain Michael Clarke counted every run as Australia sought an unlikely victory against South Africa.
Police investigate claim by former Nationals senator Bill O'Chee that News Ltd said it would look after him if he crossed the floor on a vote of financial interest to the media group.
Page 3: Former Gunns Ltd boss John Gay charged with insider trading. Gobbo withdraws as a prosecution witness in the case against former policeman Paul Dale because she fears for her safety.
Qantas faces flack as Twitter campaign backfires.
Facebook page by Eskander's Betstar which jokes about stalking is banned by advertising watchdog.
World: Actor Hugh Grant says Daily Mail "illegally obtained" information about the birth of his daughter.
Finance: Coles and Woolworths warehouse hundreds of trademark names for goods in a move that will put more pressure on brand owners and manufacturers.
Sport: New coach earmarks young gun Pat Cummins as the man to spearhead cricket renaissance.
THE HERALD SUN:
Page 1: Defence awards multimillion-dollar contract to a businessman who is on the US government blacklist. Young gun Jonathon Patton tipped as No 1 pick in Wednesday's AFL draft.
Page 2: Anti-bully experts to be sent into schools.
Page 3: Kinders dress up in gowns and mortarboard as they step up to prep school. Man sees his house being robbed via smartphone while on holiday and alerts police.
World: Egyptian cabinet offers to resign in face of new violent protests.
Business: Lenders get the key to Centro as investors back the deal to save the property group.
Sport: Clarke backs Ponting for first test against NZ.
THE CANBERRA TIMES:
Page 1: Response to fire in Mitchell slammed.
Page 2: Summernats muscle cars to rumble through city.
Page 3: Prisoners divided on jail program.
World: West targets Iran with fresh sanctions.
Business: US budget woes add to uncertainty.
Sport: New national cricket coach Arthur flags new era with Cummins.
THE COURIER MAIL:
Page 1: Trials of single sex schools will be extended after reports there have been improved results among students.
Page 3: Harvey Norman matriarch Katie Page has won her battle to build a six-star beachside tower development on the Gold Coast.
Page 4: A retail and bank labour crisis looms in mining towns, which are losing locals to the booming mining industry.
World: Egypt's military rulers have called for crisis talks after cabinet resigned amid clashes between troops and protesters.
Business: Queensland Premier Anna Bligh has vowed to take on the federal government over introducing more red tape on CSG mining companies.
Sport: Australian Test cricket captain Michael Clarke has declared his predecessor Ricky Ponting should play in the first Test against New Zealand at the Gabba.
