Morning Headlines

Boom's $190bn windfall 'wasted'

Australia has squandered nearly all of the $190 billion windfall from the resources boom over the past decade through a raft of unsustainable government spending programs and tax cuts. The Aus

Dovish RBA warning on budget cuts

Reserve Bank of Australia board member John Edwards has warned Labor's budget razor gang against deep spending cuts or large tax rises because of the economy's fragility. The Fin

Rudd admits PNG plan not a quick fix

Kevin Rudd has conceded it may take “many months” before his Papua New Guinea solution begins to slow the flow of asylum-seeker boats to Australia and suggested the plan might have little impact before the election. The West

WA's $1b windfall as Bell case looms

The state government is set for a $1 billion boost to its coffers with a settlement looming in a massive legal fight over the collapse of Alan Bond's Bell Group. The West

Party's over for Diggers & Dealers

This year's Diggers & Dealers mining conference will have 400 fewer attendees than last year, the first time numbers have fallen in six years. The Fin

Ideological activists 'risk gas future'

Two of Australia’s business leaders have lashed anti-gas activists and their influence on government policy as the industry launches a multi-million-dollar campaign against “ideological opposition’’ to gas developments it warns could cost 150,000 jobs and $40 billion in exports. The Aus

Rates to rise in carve-up

The first victim of the state government's local government reforms – the Town of Victoria Park – has vowed to fight the changes after learning yesterday it would lose the prized Crown Perth casino complex and planned Burswood football stadium to neighbouring City of Perth. The West

Industry has to reduce whale tangles

The WA Fisheries Department head has warned the rock lobster industry is likely to face closures from next year unless it can show how it will reduce the number of whales being entangled in pot lines. The West

The West Australian

Page 1: The state government is set for a $1 billion boost to its coffers with a settlement looming in a massive legal fight over the collapse of Alan Bond's Bell Group.

Page 3: The number of serious work injuries has continued to climb in WA, with the increase in compensation claims for “severe incidences” sparking a renewed attack by UnionsWA on the state government over its delay in adopting a national model of occupational health and safety laws.

Page 4: Australia's gas industry has fired a warning shot at the nation's politicians ahead of the federal election, saying they risk major damage to the economy if they stand in the way of future resources projects.

Kevin Rudd has conceded it may take “many months” before his Papua New Guinea solution begins to slow the flow of asylum-seeker boats to Australia and suggested the plan might have little impact before the election.

Page 5: The first victim of the state government's local government reforms – the Town of Victoria Park – has vowed to fight the changes after learning yesterday it would lose the prized Crown Perth casino complex and planned Burswood football stadium to neighbouring City of Perth.

Page 6: The state government has failed to set up a watchdog to protect water consumers almost a year after ushering in long-awaited legislation partially designed to establish such a scheme.

Page 8: The mining boom delivered the nation far more benefits than costs, an independent analysis has found, which also claims governments of both persuasions squandered the financial boost provided by the resources sector.

Page 9: The WA Fisheries Department head has warned the rock lobster industry is likely to face closures from next year unless it can show how it will reduce the number of whales being entangled in pot lines.

Page 10: North Perth builder Warren Sizer has been accused of creating false bank guarantees to secure $8 million in state government building contracts.

Page 13: Soaring domestic gas prices have allowed coal to re-emerge as WA's dominant electricity fuel source, sparking claims from green groups the state is failing to tackle greenhouse emissions from the sector.

Business: Fortescue Metals Group wants to build a gas pipeline linking its Solomon and Chichester iron ore mines as part of a long-term strategy to lower Pilbara operating costs.

The former wife of high-flying resources consultant David Bollands has failed in a bid to have an Australian Taxation Office asset seizure action decided in the Family Court of WA.

A major fruit and vegetable wholesaler has hit back at opposition to grape imports from WA growers.

Fresh fears have emerged that China's latest attempt to curb out of control industrial production, including steel, could fast-track a slump in iron ore prices.

Newmont Mining has slashed the value of WA's biggest gold mine, Boddington, by almost half, the US giant said at the weekend, because of a decision to cut its gold price forecast to $US1,400 an ounce.

The Australian Financial Review

Page 1: Reserve Bank of Australia board member John Edwards has warned Labor's budget razor gang against deep spending cuts or large tax rises because of the economy's fragility.

Page 3: This year's Diggers & Dealers mining conference will have 400 fewer attendees than last year, the first time numbers have fallen in six years.

Page 4: The Coalition would keep Prime Minister Kevin Rudd's strategy to send all asylum-seekers arriving by boat to Papua New Guinea if it was proven to work, said opposition spokesman Scott Morrison.

Page 5: The federal government has accused state governments of failing to support local car makers, deflecting focus from its plan to slash $1.8 billion in fringe benefits tax breaks that prop up manufacturers and affiliated industries.

Page 6: Uncertain economic conditions and weak consumer confidence have left the public with less to sing and dance about: arts lovers spend 8 per cent less on live gigs last year.

Page 7: The world's biggest energy companies have launched a multi-million dollar advertising blitz warning that high costs could jeopardise the $150 billion gas boom in a campaign reminiscent of the mining tax fight.

Successive federal governments may have squandered more than nine out of every 10 dollars delivered by the terms-of-trade boom over the past decade, deepening the nation's budget vulnerability, a Grattan Institute study finds.

Page 13: Weak building activity is threatening Boral's 2014 earnings and could spark earnings downgrades amid speculation the company could be forced into fresh write-downs in its building products division.

Page 33: The recovery in residential construction will happen only slowly, dashing hopes the building sector can kick in directly to drive economic growth as the mining boom slows, a new report warns.

The Australian

Australia has squandered nearly all of the $190 billion windfall from the resources boom over the past decade through a raft of unsustainable government spending programs and tax cuts.

Two of Australia’s business leaders have lashed anti-gas activists and their influence on government policy as the industry launches a multi-million-dollar campaign against “ideological opposition’’ to gas developments it warns could cost 150,000 jobs and $40 billion in exports.

Australia looks set for a September federal election, with senior Labor figures not expecting Kevin Rudd to take a last opportunity today to call an election for August 31.

Clive Palmer has signed up a new legal team in a bid to extract $10 million in damages from an independent arbitrator.

BHP Billiton is closing in on making a decision as to whether its foothold in the crop nutrient potash industry should be converted to a full-blown push into the world of fertilisers through a $US12 billion ($12.94bn) development of its Jansen project in Canada.

Silcar's acting chief has cut a handful of senior employees amid speculation the firm has suffered write-downs building the NBN.

Inova Resources -- the rebadged Ivanhoe Australia -- is highlighting the potential for growth and exploration under new management -- something that has been on the backburner since the billionaire lost control to Rio Tinto last year and improving the balance sheet and cutting costs became the focus.