Easy money fuels property bubble risks
The Reserve Bank of Australia and banking regulators are being warned that low interest rates could reinflate a property bubble, leaving the economy more vulnerable to a crash. The Fin
Boom's end sounds call for tax, labour reforms
Business leaders have demanded renewed commitment to tax reform and called on governments to tackle traffic congestion and lift labour productivity, declaring that the ''unprecedented income'' that has sheltered Australia from tough reform decisions will be gone. The Aus
Uranium controls point to India deal
Australia is poised to take a significant step towards exporting uranium to India in a landmark move that promises to open up millions of dollars of sales for companies such as Paladin, Toro and Energy Resources of Australia and double national production by 2020. The Fin
Alston exit adds to TFS board turmoil
TFS Corporation has lost its chairman, with former Howard government minister Richard Alston surprisingly quitting yesterday to add to the turmoil engulfing the Perth sandalwood grower's boardroom. The West
Addwealth fund losses likely to hit $40m
The losses on a Cottesloe-based investment scheme with links to global events organiser Dainty Group have likely doubled to $40 million, according to the man overseeing the winding up of the once-$80 million fund. The West
THE WEST AUSTRALIAN:
Page 1: Perth's rail system had another big breakdown yesterday that threatens chaos in northern corridor transport into tomorrow.
Page 4: Federal Labor's push to deregulate the wheat industry has had a major boost with a NSW Liberal MP vowing to defy Opposition Leader Tony Abbott and stand up for WA growers.
Page 10: The Reserve Bank is under pressure to deliver more interest rate cuts after figures showed exports and home sales are collapsing.
The suspicions of long-suffering borrowers have been confirmed - the nation's banks pass on increases in official interest rates faster than cuts.
Page 11: Fremantle pop outfit San Cisco confirmed their place among the hottest new acts on the Australian music scene with three nominations at the 26th Annual ARIA Awards announced yesterday in Sydney.
Page 15: Air travellers can look forward to a discount fare bonanza during the next six months, with Australia's four domestic airlines fighting to maintain market share as the economy softens.
Page 16: the value of days off owed to WA public servants is exceeding $3 billion for the first time - a year after Colin Barnett vowed to get on top of the spiralling liability.
Business: TFS Corporation has lost its chairman, with former Howard government minister Richard Alston surprisingly quitting yesterday to add to the turmoil engulfing the Perth sandalwood grower's boardroom.
The losses on a Cottesloe-based investment scheme with links to global events organiser Dainty Group have likely doubled to $40 million, according to the man overseeing the winding up of the once-$80 million fund.
Uranium miners hoping that a revival of shelved nuclear reactor plans post the Fukushima disaster would drive yellowcake prices higher have been dealt a blow after signs that Britain is struggling to attract builders for two new plants.
The mining boom has been blamed for a slide in workplace safety after WorkSafe revealed it had investigated about 2000 fewer workplaces compared to each of the previous four years.
Spotless' new private equity owners could bring the services provider back to the stock market in as little as two years, according chief executive.
Mining companies operating in South Africa have toughened their stance amid escalating violence, as the world's top platinum producer began hearings to sack up to 17,000 workers.
WA farmers have put low rainfall and a row with Canberra over deregulation of wheat exports behind them, with the beginning of the state's 2012-13 harvest yesterday.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: The Reserve Bank of Australia and banking regulators are being warned that low interest rates could reinflate a property bubble, leaving the economy more vulnerable to a crash.
The car industry has lashed out at proposals to impose new tariffs on imported steel in order to insulate the country's biggest steel maker, BlueScope Steel.
Australia is poised to take a significant step towards exporting uranium to India in a landmark move that promises to open up millions of dollars of sales for companies such as Paladin, Toro and Energy Resources of Australia and double national production by 2020.
Page 3: The Council of Financial Regulators recommended the federal government consult publicly on the merits of introducing a fee on banks for taxpayer guarantees on deposits, a move which would raise tens of billions of dollars from banks for the benefit they receive from public insurance.
Page 5: Superannuation Minister Bill Shorten says research that shows compulsory superannuation is failing to provide enough retirement income suggests there "does need to be a national conversation about the best policy settings for the final third of people's lives".
Page 9: A panel of brokers, directors, super funds, money managers and investors should be used to make quick and speedy calls on company disclosure rules, a leading corporate lawyer says.
Page 10: Builders and developers hope the fading resources boom and easing monetary policy will shift the policy spotlight to their industry, which is facing some of the toughest conditions in decades.
Page 11: Australia has posted its widest trade deficit in more than four years on plunging commodity prices, reinforcing the Reserve Bank of Australia's fear that declining income from the terms of trade will drag on the economy.
Page 12: The mining industry said the Reserve Bank of Australia was slow to recognise the end of the resources boom as executives painted a gloomy picture for investment in the sector.
Page 16: The Australian and Chinese governments should embark on a government-led investment co-operation in infrastructure and agriculture to respond to signs that Chinese interest in Australian investment is waning, according to a study.
Page 23: Australia's second-biggest farming services player, Ruralco, has approached rival Elders about a merger deal to create a $500 million rural services group to rival market leader Landmark.
Nine Entertainment Co appears headed for the auction block next week after mezzanine lenders Goldman Sachs indicated a deal with hedge fund senior lenders would be difficult to strike within a week.
Page 25: Boart Longyear has signalled it is looking for new "thought leadership" and a more communicative leader after suddenly sacking chief executive Craig Kipp.
THE AUSTRALIAN:
Page 1: The nation's toughest restrictions on alcohol sales in Aboriginal communities will be relaxed by Queensland, triggering warnings from indigenous leaders that progress on violence and school attendance could be destroyed.
Fewer Australians are switching their home loans to other banks or lenders than before the global financial crisis, despite Wayne Swan's suggestions that his banking reforms have unleashed a new wave of competition.
Business leaders have demanded renewed commitment to tax reform and called on governments to tackle traffic congestion and lift labour productivity, declaring that the ''unprecedented income'' that has sheltered Australia from tough reform decisions will be gone.
Page 2: Transport firm Linfox has lost its appeal against a Fair Work Australia decision reinstating a union delegate sacked for making derogatory comments on Facebook about two of his managers.
Increased research investment and improved collaboration with Asia is driving Australian universities' strong performance in the latest global league table published today, according to commentators.
Page 4: Australia recorded its worst trade result in more than four years in August, lending support to the Reserve Bank's fear that the mining boom is petering out sooner than expected.
In a matter of months, this dusty patch of red dirt will be covered with green shoots as one of the world's biggest miners fulfils its ambition to become the nation's newest farmer.
Wayne Swan's call for banks to pass on the Reserve Bank's interest rate cut in full to mortgage holders ignores increasingly fierce competition among banks for deposits, which have grown to more than half of Australian banks' liabilities.
Page 6: State governments face new pressure to put tolls on motorways and privatise energy assets including the Snowy Hydro Scheme after a high-powered report to the NSW government warned that the most populous state could not materially increase its infrastructure spending without threatening its prized AAA-credit rating and driving up its borrowing costs
Page 7: West Australian Premier Colin Barnett believes far-right Dutch politician Geert Wilders could stir community tension and cause a repeat of the recent Sydney violence against an anti-Islam film, and has declared him unwelcome in his state.
Business: Relations between Nine Entertainment's lenders sank to a new low yesterday after Goldman Sachs warned the media company's directors they could be personally liable if the lender is not treated fairly in negotiations over a looming $2.2 billion debt.
Mineral exploration drilling giant Boart Longyear has signalled a shift in strategy after the shock ousting of chief executive Craig Kipp.
Investors in the managed investment schemes run by collapsed timber group Gunns are mounting a challenge to the appointment of voluntary administrators PPB Advisory, in a bid to protect their interests in hundreds of millions of dollars of timber plantings.
Major shareholders have backed Arrium's decision not to engage with a $1 billion conditional cash bid lobbed last week by a consortium led by steelmaker Posco and trader Noble Group.
John Howard has warned that the development of the shale gas industry in the US could shake up the global energy scene and have a dramatic impact on China and Australia.
The High Court had abolished key safeguards for small investors by ruling that Fortescue Metals Group and its chairman Andrew Forrest were correct to announce ''binding contracts'' when they had not been finalised, fund managers and lawyers said yesterday.
THE SYDNEY MORNING HERALD:
Page 1: Parramatta Road could be ripped up to allow a motorway to run underneath it as part of transport plans announced by Infrastructure New South Wales. The sexual harassment case between the Speaker Peter Slipper and James Ashby is set to be fought in court. Canterbury forward James Graham has entered a not guilty plea to a charge of biting ahead of a tribunal in Sydney.
Page 2: Fears have arisen that a pedophile ring could have been operating in the Hunter and Newcastle areas in the 2000s. Sydney's night noodle markets have opened, with a premium zone available for the first time. Facebook has removed pages targeting the man accused of murdering Jill Meagher.
Page 3: An Australian tycoon has been fined over a boozy yacht cruise in the Arctic. Home loan customers have been shortchanged for years by banks, it is claimed.
World: The US is compiling information about those suspected of carrying out a deadly attack on a diplomatic mission in Libya.
Business: Australia posts its widest trade deficit since before the global financial crisis.
Sport: Canterbury forward James Graham will not be eligible for leniency after entering a not-guilty plea to a biting charge.
THE DAILY TELEGRAPH:
Page 1: Work on the West Connex motorway and F3-M2 tunnel is set to get under way by 2015, according to Infrastructure NSW.
Page 2: Poster.
Page 3: The six people on board a biplane that crashed in southeast Queensland almost certainly died on impact, police believe.
Page 4: Mediation talks between Peter Slipper and former staffer James Ashby fail.
World: Fears grow over the safety of Welsh five-year-old April Jones as a former soldier is held on suspicion of her abduction.
Business: The government is accused of profiting from pensioners as it emerged that the deeming rate had failed to follow interest rate movements.
Sport: Channel 9 is calling for an apology from the Bulldogs players who shouted abusive comments to a female reporter.
