03/07/2013 - 06:56

Morning Headlines

03/07/2013 - 06:56

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Morning Headlines

Bowen says RBA could cut rates more

The new Rudd government is counting on interest rate cuts by the Reserve Bank of Australia to protect the economy from further falls in commodity prices and global turmoil. The Fin

Rudd opens door to Gonski shift

KevinRudd has left open the possibility of substantially changing the style and timetable for the Gonski education funding changes after a private meeting with the non-government school sector. The Aus

FMG gets plant reprieve

The WA government has given Andrew Forrest's Fortescue Metals Group a three-year extension on obligations to develop a secondary processing plant in the Pilbara, prompting renewed debate about whether miners should be forced to be manufacturers. The West

Ore shipments surge despite China concerns

The world’s largest bulk export port, Port Hedland, said yesterday it handled a record 288 million tonnes of iron ore last year as mining companies continued to boost their output despite mounting concerns over weaker prices and China’s economic slowdown. The Aus

Search for partner to build hotel in Karratha

The state government is searching for a new partner to build and operate a premium hotel in Karratha after property developer Mirvac withdrew from the project following last year's corporate restructuring in which it sold its hotel division. The West

 

Top Resources Headlines

FMG gets plant reprieve

The WA government has given Andrew Forrest's Fortescue Metals Group a three-year extension on obligations to develop a secondary processing plant in the Pilbara, prompting renewed debate about whether miners should be forced to be manufacturers. The West

Ore shipments surge despite China concerns

The world’s largest bulk export port, Port Hedland, said yesterday it handled a record 288 million tonnes of iron ore last year as mining companies continued to boost their output despite mounting concerns over weaker prices and China’s economic slowdown. The Aus

Wright to revise Pilbara claim

Gina Rinehart's Hancock Prospecting has dented a bid by rival mining dynasty Wright Prospecting to claim part-ownership over lucrative Pilbara iron ore tenements. The Fin

BHP sees productivity gains

BHP Billiton iron ore boss Jimmy Wilson has conceded that major rival Rio Tinto is well ahead of its in some aspects of high-tech mining innovation, but says BHP will lift its use of cutting edge technology in order to wring productivity gains from its mining operations. The West

Gindalbie puts happy spin on sales

Gindalbie Metals managing director Tim Netscher says a move to allow the market to set a price for ore from its Karara mine is a “bit of a risk”, but he is confident steelmakers will pay a premium for magnetite concentrate. The West

 

Top Politics Headlines

Bowen says RBA could cut rates more

The new Rudd government is counting on interest rate cuts by the Reserve Bank of Australia to protect the economy from further falls in commodity prices and global turmoil. The Fin

Rudd opens door to Gonski shift

Kevin Rudd has left open the possibility of substantially changing the style and timetable for the Gonski education funding changes after a private meeting with the non-government school sector. The Aus

Labor lawyer seeks run for Smith's seat

Perth lawyer and long-time Labor member Mattherw Keogh yesterday declared his hand for the federal seat of Perth as Stephen Smith said he would give “110 per cent” support to whichever candidate was selected. The West

Fraser to campaign for the Greens

Former Liberal prime minister Malcolm Fraser will campaign in Adelaide this weekend to stop Tony Abbott securing what he had in the 1970s: control of the Senate. The Fin

Bowen stands by budget and surplus plans

Treasurer Chris Bowen declared that he stands by his predecessor's budget, but not before Kevin Rudd and other ministers raised the prospect of blowing out Australia's deficit by amending politically damaging policies. The Fin

 

Top Property Headlines

Search for partner to build hotel in Karratha

The state government is searching for a new partner to build and operate a premium hotel in Karratha after property developer Mirvac withdrew from the project following last year's corporate restructuring in which it sold its hotel division. The West

Scaffidi blasts 'measly' funding

Lord Mayor Lisa Scaffidi says Perth will continue to miss out on its fair share of Commonwealth funding unless the city's borders are expanded, after the WA capital received just $57,000 from a $150 million federal pool. The West

Group fitness at a cost in Cott

Cottesloe is set to become the latest council to introduce a paid permit system for personal trainers and group fitness instructors who use public parks and reserves. The West

 

The West Australian

Page 1: Perth hospitals have been forced to install extra power points and emergency bells in ward corridors to cope with having more patients than beds.

Corrective Services Minister Joe Francis was warned in writing six weeks ago that sensitive documents had been leaked from within the department's internal investigations unit and that corruption, intimidation and incompetence were rife in the prisons agency.

Page 5: Perth's dams have almost stopped supplying the city and broader south west earlier than predicted five years ago in a worst-case scenario.

Page 6: Perth lawyer and long-time Labor member Matthew Keogh yesterday declared his hand for the federal seat of Perth as Stephen Smith said he would give “110 per cent” support to whichever candidate was selected.

Page 7: Cottesloe is set to become the latest council to introduce a paid permit system for personal trainers and group fitness instructors who use public parks and reserves.

Page 9: WA's fire chief has predicted some local governments will offload responsibility for volunteer bushfire brigades to his Department of Fire and Emergency Services in a move likely to divide volunteers and split councils.

Page 10: The new, merged board that will oversee the operations of WA's state-owned electricity retail and generation companies contains just one holdover from Verve Energy in the wake of the Muja AB debacle.

Page 11: Lord Mayor Lisa Scaffidi says Perth will continue to miss out on its fair share of Commonwealth funding unless the city's borders are expanded, after the WA capital received just $57,000 from a $150 million federal pool.

Page 12: New federal Treasurer Chris Bowen has a $1 billion headache, with the budget taking a blow even before the government implements any costly changes to win back voters.

Page 13: Gina Rinehart's bid to track down the sources of two of Australia's top journalists faces a new challenge under international arbitration laws.

Page 14: WA's Small Business Commissioner has urged small business owners to be cautious when signing a lease, days after it was revealed a swag of Coventry Village shop owners had been sued for walking away from their stores.

Business: The WA government has given Andrew Forrest's Fortescue Metals Group a three-year extension on obligations to develop a secondary processing plant in the Pilbara, prompting renewed debate about whether miners should be forced to be manufacturers.

BHP Billiton iron ore boss Jimmy Wilson has conceded that major rival Rio Tinto is well ahead of its in some aspects of high-tech mining innovation, but says BHP will lift its use of cutting edge technology in order to wring productivity gains from its mining operations.

Gindalbie Metals managing director Tim Netscher says a move to allow the market to set a price for ore from its Karara mine is a “bit of a risk”, but he is confident steelmakers will pay a premium for magnetite concentrate.

A federal government contract to build an offshore asylum seeker centre has given Decmil Group a shot in the arm – and exposure beyond the resources sector.

The heirs of Lang Hancock's late prospecting partner Peter Wright have been sent back to the drawing board in a campaign to secure a 25 per cent stake in the rich Hope Downs 4 iron ore mine.

Animal rights activists have attempted to cripple the WA pork industry by approaching supermarket giant Coles with illegally filmed images after a break-in at a local piggery.

The state government is searching for a new partner to build and operate a premium hotel in Karratha after property developer Mirvac withdrew from the project following last year's corporate restructuring in which it sold its hotel division.

  

The Australian Financial Review

Page 1: NSW Premier Barry O'Farrell urged Prime Minister Kevin Rudd to show he is serious about repairing relations with the business sector by honouring an abandoned Labor promise to streamline the environmental approvals process for major projects.

Nine Entertainment Co is poised to control television stations in all the mainland capital cities for the first time in its 57-year history after exercising a right to buy the Perth operations from Bruce Gordon's WIN Corp.

One of the most effective corporate managers in Australian history, John Grill, believes many of the big budget blowouts on major projects were made worse by inadequate leadership.

Page 3: The new Rudd government is counting on interest rate cuts by the Reserve Bank of Australia to protect the economy from further falls in commodity prices and global turmoil.

Page 4: Former Liberal prime minister Malcolm Fraser will campaign in Adelaide this weekend to stop Tony Abbott securing what he had in the 1970s: control of the Senate.

Page 5: Asylum seekers will be just one element of an explosive agenda when Kevin Rudd visits Indonesia on Friday, with the Prime Minister keen to focus on expanding trade and investment between the two countries.

Page 6: Treasurer Chris Bowen declared that he stands by his predecessor's budget, but not before Kevin Rudd and other ministers raised the prospect of blowing out Australia's deficit by amending politically damaging policies.

Page 7: Former West Australian Labor minister Alannah MacTiernan has emerged as the favourite to be chosen as the Labor candidate for the seat of Perth if she chooses to run.

Page 9: Infrastructure Australia has listed 34 projects that meet priority criteria on its annual list, with an estimated value of up to $27 billion.

Gina Rinehart's Hancock Prospecting has dented a bid by rival mining dynasty Wright Prospecting to claim part-ownership over lucrative Pilbara iron ore tenements.

Page 14: The number of people entering Australia on 457 temporary skilled worker visas could be cut if better training was available to the domestic workforce, WorleyParsons chairman John Grill has said.

Page 17: In an apparent blow to the Northern Territory's nascent shale exploration sector, US independent Hess Corporation has walked away from its drilling venture in the Beetaloo Basin – but former partner Falcon Oil & Gas is pointing to interest from larger companies.

BHP Billiton is looking at increasing investment in leading-edge mine technology to bring it more in line with rival Rio Tinto and achieve productivity gains that will help offset softening commodity prices.

Page 19: NSW's largest electricity producer, Macquarie Generation, intends to cut its $630 millon annual carbon bill by about a tenth by hosting a $140 million plan that will turn carbon waste into diesel and jet fuel.

Iron ore shipments from the world's biggest bulk terminal at Port Hedland have declined from record levels last month.

  

The Australian

Page 1: Kevin Rudd has left open the possibility of substantially changing the style and timetable for the Gonski education funding changes after a private meeting with the non-government school sector.

Unions will seek to extend full adult pay rates to teenage workers across the economy if a retail industry test case before the Fair Work Commission is successful.

The revival of Australia’s stricken $500 million live cattle export trade with Indonesia will be a key agenda item in talks between Kevin Rudd and Susilo Bambang Yudhoyono on Friday aimed at boosting the business relationship between the two countries.

Page 2: The prospect of a successful referendum for the constitutional recognition of local government has been dealt a significant blow, with the Coalition cooling its support for the change.

The Reserve Bank hopes and expects the Australian dollar will fall further in coming months, which could spell the end of interest rate cuts.

Just four of the major projects pitched by the states for federal money have been identified by Kevin Rudd’s infrastructure tsar as ready to proceed, sparking fresh calls for both main parties to focus on easing bottlenecks before the election.

Page 4: Kevin Rudd’s new government is modelling options to provide more financial assistance to single parents, as senior frontbenchers argue that they must be given immediate priority for a welfare boost ahead of other unemployed Australians.

Billionaire Clive Palmer has declared he will not pay a $6.2 million penalty imposed by the federal government for flouting the law on the carbon tax because he disagrees with the tax and is challenging its validity in the High Court.

Business: The Australian stockmarket has started the new financial year with an extraordinary bout of volatility, as local blue chip shares reversed swinging losses on Monday to yesterday post the biggest one-day gain in almost two years.

National Australia Bank has signalled more jobs may be lost as it attacks costs to protect profits amid sluggish revenue growth.

The world’s largest bulk export port, Port Hedland, said yesterday it handled a record 288 million tonnes of iron ore last year as mining companies continued to boost their output despite mounting concerns over weaker prices and China’s economic slowdown.

BHP Billiton’s growing embrace of automation could accelerate the miner’s switch away from contractors, the head of the company’s iron ore division has indicated.

The federal government’s controversial Manus Island detention centre in Papua New Guinea has proved a boon for construction company Decmil, with the Perth-based group winning a $137 million contract to build a village at the site.

Key National Broadband Network construction partner Service Stream is slashing as many as 100 jobs from its books as the company attempts to reassert control over tumbling profits thanks to its faltering NBN joint venture.

Australia is on track to beat its own target and attract one million Chinese visitors by the end of the decade, as it capitalises on the world’s fastest growing economy and tourism market.

Oil and gas major Shell plans to build more floating LNG plants after developing its world-first Prelude project off the coast of Western Australia.

 

The Sydney Morning Herald

PAGE 1 - Following RBA's announcement of further rate cuts, Treasurer Chris Bowen has warned of an uncertain economic outlook.

PAGES 2-5 - HaissamSafetli, who pleaded guilty to the murder of businessman Michael McGurk in 2009, has revealed that Christopher Estephan was the hit-man who actually shot McGurk.

Gillian Mitchell, the director of a cancer centre in Sydney, has cited unavailability of testing for a rare mutation of the BRCA1 and BRCA2 gene before 1997 as the cause of the death of Pierce Brosnan's daughter.

The final report on casino operators Crown and Echo Entertainment will be submitted by David Murray to Premier Barry O'Farrell for consideration by the Cabinet.

BUSINESS - The possibility of further rate cuts by the RBA has resulted in the Australian stock market posting its biggest gain in 19 months.

SPORT - The Australian Rugby Union is crying foul over the nine-day controversial trial and re-trial on charges of stamping and subsequent exoneration of Wallabies captain James Horwill.

 

The Age

PAGE 1 - Five members of a syndicate have been arrested for operating an illegal brothel across Melbourne.

PAGES 2-5 - As part of the reforms to fight Customs corruption, officers will be forced to change roles regularly.

Kidsafe Victoria president Robert Caulfield warns parents about the dangers of button batteries following the death of a 4-year-old Queensland girl.

Foreign Minister Bob Carr's claims on economic migrants have been defended by the asylum seekers' former chief.

The Australian government says a large number of Iranian asylum seekers are economic migrants and hence their refugee applications are rejected.

BUSINESS - Australian shares have closed at a 19-month high with the likelihood of further rate cuts by the RBA in spite of the sharp fall in the Australian dollar.

SPORT - Mark Thompson will be interviewed by investigators as part of a joint investigation by the AFL and the Australian Sports Anti-Doping Authority.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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