Morning Headlines

WA drought assistance went to the rich: Farmers Federation

A $7.8 million assistance package from the West Australian government last year went to the well-off and did nothing to help needy farmers plant crops, according to the WA Farmers Federation. The Fin

Oil lobby says reservation is ‘protectionist’

Western Australia’s peak oil industry body has sought to head off expected calls for a strengthening of the state’s gas reservation policy after the release late on Friday of an official study warning of potential shortages next decade. The Fin

Re-run of Senate poll is popular

Most people believe Western Australians should get a new Senate election with many set to change their vote — and the result. The West

Joyce pushes for $7bn in relief aid to farmers

Agriculture Minister Barnaby Joyce has vowed to wage a ‘‘mighty battle’’ in cabinet to convince his colleagues to sign off on a $7 billion bailout of ‘‘distressed’’ farm loans and avert a ‘‘complete and utter financial meltdown’’. The Aus

Woodside nears $3.4bn gas deal

Woodside Petroleum may be about to sign a revised $US3 billion ($3.4bn) deal to enter Israel’s big offshore Leviathan gas field, with senior managers from the field’s owners headed to Australia this week. The Aus

ASIC: share trades not our problem

Fin: The Australian Securities and Investments Commission has refused to say whether controversial share trading by David Jones directors was acceptable, arguing it is not the regulator’s job to judge unless there are grounds for legal action. The Fin

$4.7bn digital ad take tipped to topple TV’s

Media buyers expect digital advertising to overtake commercial television ad revenue this year, making it the country’s biggest medium. The Fin

The Australian Financial Review

Page 1: The Australian Securities and Investments Commission has refused to say whether controversial share trading by David Jones directors was acceptable, arguing it is not the regulator’s job to judge unless there are grounds for legal action.

The Abbott government is seeking to use its chairing of the Group of 20 to ease international tensions over massive capital flows from emerging market economies triggered by the tapering of the US Federal Reserve’s monetary stimulus.

Page 3: Tax breaks on capital gains and superannuation will cost more than $60 billion this year, Treasury figures show, reviving calls for reform from economists and policy experts.

Page 5: The defence industry has urged the Coalition to take the axe to jobs in the monopoly arms buyer – the Defence Materiel Organisation – as part of a national shake-up of public finances.

Page 7: A $7.8 million assistance package from the West Australian government last year went to the well-off and did nothing to help needy farmers plant crops, according to the WA Farmers Federation.

Western Australia’s peak oil industry body has sought to head off expected calls for a strengthening of the state’s gas reservation policy after the release late on Friday of an official study warning of potential shortages next decade.

Page 15: David Jones says it would reconsider a merger proposal from arch-rival Myer if the terms of an original $3 billion offer were significantly improved amid calls from key shareholders to reopen discussions.

Page 19: The head of US oil major Chevron has told investors that investments in new liquefied natural gas projects or even expansions of plants in Australia or elsewhere will not proceed without “robust” gas prices, signalling that any move away from current pricing levels in Asia would cause further delays in new projects.

Page 21: ANZ Banking Group and National Australia Bank have made the biggest strides in mortgage lending as record low interest rates fire up the property market.

Page 25: The future of the Reserve Bank of Australia’s jawboning strategy will be analysed when the central bank meets for the first time this year on Tuesday.

Page 37: Media buyers expect digital advertising to overtake commercial television ad revenue this year, making it the country’s biggest medium.

The Australian

Page 1: Agriculture Minister Barnaby Joyce has vowed to wage a ‘‘mighty battle’’ in cabinet to convince his colleagues to sign off on a $7 billion bailout of ‘‘distressed’’ farm loans and avert a ‘‘complete and utter financial meltdown’’.

Page 2: Mining giant Rio Tinto will today begin shutting down its alumina refinery on the Gove peninsula in Arnhem Land, commencing a five-month operation that is expected to see the plant mothballed by August.

Page 3: Rewriting the school curriculum will have little effect on lifting student performance as it fails to take into account the gulf in learning between the best- and worst performing students within the same class.

Page 4: Employers are using salary sacrifices made by their staff to foot the bill for their legal obligation to pay the 9.25 per cent compulsory superannuation contribution, says a hard-hitting budget submission calling for an overhaul of the tax treatment of super.

Page 17: The new chairman of explosives maker Orica has separated himself from big gas users who are calling for government intervention as a looming east coast shortage threatens to drive prices higher, saying gas buyers need to look after themselves, not bleat for assistance.

Page 19: Woodside Petroleum may be about to sign a revised $US3 billion ($3.4bn) deal to enter Israel’s big offshore Leviathan gas field, with senior managers from the field’s owners headed to Australia this week.

Page 23: Just days after it was announced, the federal government’s cost review of the ABC and SBS swings into action today with a meet and greet in Sydney between the broadcasters’ top management and review head Peter Lewis.

The West Australian

Page 4: Most people believe Western Australians should get a new Senate election with many set to change their vote — and the result.

The Federal Government will today launch a three-year, $70 million national rollout of the Independent Public School model operating in WA.

Tony Abbott has sought to link improving economic confidence in Australia to the Government’s hard-line stance on boat people.

Page 5: The State Opposition claims WA schools have lost the equivalent of 342 full-time teachers despite an estimated 11,000 more students entering the State school system this year. The West

Page 6: A new $1.4 million medical centre in Esperance has been empty for almost a year because of a dispute between the WA Country Health Service and local doctors.

Page 8: In a dedication to the festival’s 90s roots, grunge veterans Pearl Jam signed off the final Big Day Out for Perth with a 2½-hour set.

Page 9: The escape of three prisoners from Serco guards’ custody in the past month could enable the WA Government to break its $50 million-a-year prisoner transport contract with the company.

Business: A key WA industry body has reinforced fears of a gas crunch within a decade unless Woodside Petroleum and the State Government reach agreement over future domestic sales.

As one of the world’s biggest mining conferences gets under way in South Africa, Deloitte has warned that Australian miners already pressured by rising costs and weaker commodity prices are finding Africa “increasingly challenging”.

Fresh from its buying spree, Northern Star Resources has fleshed out its management team with a series of appointments.