11/07/2013 - 06:45

Morning Headlines

11/07/2013 - 06:45

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Morning Headlines

PM misfires on referendum

Kevin Rudd is under fire for politicising the recognition of indigenous people in the Constitution, with the Coalition accusing him of ‘‘calculated and dishonest’’ motives that could place at risk the success of a referendum. The Aus

Rudd readies to wage war over the economy

Kevin Rudd will today warn the wrong economic decisions will inflict pain on the country for the rest of the decade as the Labor Party puts itself on a war footing for the coming election. The West

Newcrest to cut jobs at Telfer

Embattled gold miner Newcrest Mining has extended job-cutting to its Australian operations, with an unspecified number of employees set to be made redundant at its remote Telfer mine in Western Australia's north. The Fin

Atlas backs Fortescue's stance on rail access

Atlas Iron has thrown its weight behind Fortescue Metals Group's opposition to state government intervention in a dispute over rail access for junior resources companies, sparking renewed speculation the two companies are in the final stages of negotiating a haulage deal. The West

Wave of sackings at nickel mine swamps Forrests' Poseidon adventure

Poseidon Nickel chairman Andrew Forrest’s bid to revive the historic Windarra project in the face of worsening nickel prices appears to have suffered a blow after more than 40 contractors were sacked amid speculation the company is attempting to preserve cash. The Aus

Top Resources Headlines

Newcrest to cut jobs at Telfer

Embattled gold miner Newcrest Mining has extended job-cutting to its Australian operations, with an unspecified number of employees set to be made redundant at its remote Telfer mine in Western Australia's north. The Fin

Atlas backs Fortescue's stance on rail access

Atlas Iron has thrown its weight behind Fortescue Metals Group's opposition to state government intervention in a dispute over rail access for junior resources companies, sparking renewed speculation the two companies are in the final stages of negotiating a haulage deal. The West

Wave of sackings at nickel mine swamps Forrests' Poseidon adventure

Poseidon Nickel chairman Andrew Forrest’s bid to revive the historic Windarra project in the face of worsening nickel prices appears to have suffered a blow after more than 40 contractors were sacked amid speculation the company is attempting to preserve cash. The Aus

 

Top Politics Headlines

PM misfires on referendum

Kevin Rudd is under fire for politicising the recognition of indigenous people in the Constitution, with the Coalition accusing him of ‘‘calculated and dishonest’’ motives that could place at risk the success of a referendum. The Aus

Rudd readies to wage war over the economy

Kevin Rudd will today warn the wrong economic decisions will inflict pain on the country for the rest of the decade as the Labor Party puts itself on a war footing for the coming election. The West

$500m offer to schools

WA private schools would be almost $500 million better off over six years after the independent school sector endorsed the federal government's education funding reforms. The West

Axe falls on commerce sector jobs

As many as 65 staff in the Department of Commerce have been told to “consider their employment options” as the Barnett government's coming budget cuts begin to bite. The West

 

Top Property Headlines

UDIA criticises planner's dual role

Property developers have warned that key development decisions in WA are not getting proper, independent oversight because the government continues to let its top planning bureaucrat, Eric Lumsden, chair the WA Planning Commission. The West

Ad king bullish on WA cattle

The man who revolutionised advertising in Australia, Harold Mitchell, is expanding his cattle station investments in the Kimberley and predicting a bright future for the pastoral industry. The West

It's going to get worse in Perth

Perth office vacancy rates are forecast to rise to 13 per cent in the next three years, as the end of the mining investment boom hits the office market. The Fin

 

The West Australian

Page 1: Thousands of investors have been caught up in the collapse of a rare currency dealer, which a liquidator says held stock valued at about $240 million.

Page 3: Households in Perth and the South West must start drinking recycled drinking water within three years or be prepared to pay $1 billion for a third desalination plant within a decade.

Average petrol prices will hit a five-year high today, with some sites having increased the cost by as much as 16c a litre overnight.

Page 4: Kevin Rudd will today warn the wrong economic decisions will inflict pain on the country for the rest of the decade as the Labor Party puts itself on a war footing for the coming election.

WA private schools would be almost $500 million better off over six years after the independent school sector endorsed the federal government's education funding reforms.

Page 5: Perth is Australia's most expensive city and the 10th priciest to live in worldwide, according to an online cost of living index.

Page 9: Cash-strapped WA farmers will be able to apply for concessional loans of $250,000 after a breakthrough in talks between the state and Commonwealth on a $60 million relief package.

Page 12: As many as 65 staff in the Department of Commerce have been told to “consider their employment options” as the Barnett government's coming budget cuts begin to bite.

Business: The man who revolutionised advertising in Australia, Harold Mitchell, is expanding his cattle station investments in the Kimberley and predicting a bright future for the pastoral industry.

Atlas Iron has thrown its weight behind Fortescue Metals Group's opposition to state government intervention in a dispute over rail access for junior resources companies, sparking renewed speculation the two companies are in the final stages of negotiating a haulage deal.

Property developers have warned that key development decisions in WA are not getting proper, independent oversight because the government continues to let its top planning bureaucrat chair the WA Planning Commission.

Alcoa has hosed down any suggestion that the dire state of commodity markets could lead to the closure of its WA alumina refineries, despite the company confirming this week its Victorian smelters were under review for possible closure.

 

The Australian Financial Review

Page 1: Reserve Bank of Australia assistant governor Guy Debelle has called for a “much needed” review of the wave of international financial market reforms prompted by the global financial crisis five years ago, suggesting that their overall impact was unclear.

Page 6: The Labor Party's national executive has declared a state of campaign readiness, enabling it to bypass the rank-and-file and fast-track preselections for some, if not all, of the seats vacated by the exodus of ministers in the wake of the leadership spill.

Independent schools have endorsed Labor's Better Schools funding plan, but the Rudd government failed to clinch a much-wanted deal with Victorian and with the Northern Territory for public schools.

Page 7: Kevin Rudd has sought to gazump Tony Abbott on indigenous policy by promising a referendum on the constitutional recognition of Aboriginal people within two years of the re-election of a Labor government.

Page 8: Industry Minister Kim Carr says Labor will continue to support manufacturing in a “high-cost country: that needs to transform the sector into one that is high-skilled, innovative and globally competitive.

Page 9: Calls for a major overhaul of teacher training in Australia have grown, with one of the nation's leading universities backing a minimum entry score for teaching degrees and limits on place numbers to curb an over-supply of new teachers in some areas.

Page 13: Australian exports to China are holding up strongly, even as the trade performance of the world's second-biggest economy unexpectedly weakened further in June.

Page 17: Investors are fleeing concentrated Australian bond funds, as worries about the US Federal Reserve ending its massive bond-buying program forcing up the cost of borrowing for Australian companies and put the Australian dollar under further pressure.

Embattled gold miner Newcrest Mining has extended job-cutting to its Australian operations, with an unspecified number of employees set to be made redundant at its remote Telfer mine in Western Australia's north.

Page 33: Australia's CBD office vacancy rate has surged to 10.9 per cent, its highest in 14 years, as tenants shed space amid testing economic conditions.

Perth office vacancy rates are forecast to rise to 13 per cent in the next three years, as the end of the mining investment boom hits the office market.

  

The Australian

Page 1: Kevin Rudd is under fire for politicising the recognition of indigenous people in the Constitution, with the Coalition accusing him of ‘‘calculated and dishonest’’ motives that could place at risk the success of a referendum.

Holden has asked the federal government to almost double the money it pledged to keep the company making cars in Australia or it will quit manufacturing in three years.

Page 2: Australia's electricity market has shrunk by $ 4 billion in the past f our years, a collapse of 40 per cent that has sparked warnings of long-term effects on the reliability and stability of power supplies.

Innovation Minister Kim Carr has declared Labor will take ‘‘ whatever steps we can’’ to ensure further investment in the aluminium industry in Australia as Alcoa’s high- cost production lines come under scrutiny as parent Rio Tinto looks at capacity closures.

Clive Palmer is being confidentially put on notice that Deputy Prime Minister Anthony Albanese’s department is taking legal steps to strip his company, Mineralogy, of its lucrative rights to operate the major new port f or China’s $7 billion-plus iron ore project in Western Australia.

Page 4: Independent school authorities yesterday formally endorsed the federal government’s new funding model and expect to tell individual schools i n coming weeks how much money they are likely to receive next year.

Page 5: The Labor Party has declared itself on ‘‘full campaign footing’’ and taken central control of preselections in a move that could deny rank- and- file members a say in who represents them in the next parliament.

Business: Pressure continues to mount on Newcrest Mining chief Greg Robinson and his chairman Don Mercer amid revelations one of Australia’s largest fund managers has quit its stake in the goldminer, having watched the value of its holding wither.

Poseidon Nickel chairman Andrew Forrest’s bid to revive the historic Windarra project in the face of worsening nickel prices appears to have suffered a blow after more than 40 contractors were sacked amid speculation the company is attempting to preserve cash.

Virgin Australia and Air New Zealand will ask the competition watchdog to explain why their trans- Tasman alliance looks set to be approved for just three years when the rival Qantas-Emirates alliance received the green light for five.

Supermarket giant Woolworths is spending $20 million upgrading its West Australian meat processing plant to address a shortage of butchers available to cut meat in- store.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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