Morning Headlines

CBH keeps Asia mills in sights

CBH is determined to hang on to its flour mill and malting investments in South-East Asia, but some of its 195 grain receival sites dotted throughout the Wheatbelt are on borrowed time. The West

PM gives up penalties, wage cuts

The Abbott government has ruled out seeking changes to penalty rates and the minimum wage even if an inquiry by the Productivity Commission into workplace relations recommends reducing them to drive employment. The Fin

Miners tell Hockey to stay budget course

Miners have urged Joe Hockey to “stay the course” on fiscal repair and called for the May budget to outline a national competitiveness agenda for the next decade. The Aus

Falling $A brings back business

The weaker Australian dollar is starting to drive manufacturers back to Australia in a sign the economy is adjusting to a post-mining boom world, BlueScope Steel boss Paul O’Malley said. The Fin

Caltex joins the hunt for assets

Another big player is on the prowl in the depressed oil and gas sector, with Caltex Australia saying it could make large acquisitions outside its core refining and marketing business, including in gas exploration and production. The Aus

Tensions hit Healthway board

Healthway’s board has been riven by tensions between sporting groups and the public health lobby for as long as he has been a minister, Health Minister Kim Hames says. The West

Aspen homes head south

Loss-making Aspen Group is banking some extra cash by selling rental cabins laying vacant in the Pilbara to homebuyers in Perth. The West

The Australian Financial Review

Page 1: The Abbott government has ruled out seeking changes to penalty rates and the minimum wage even if an inquiry by the Productivity Commission into workplace relations recommends reducing them to drive employment.

Coalition MPs returned to Parliament after a one-week hiatus increasingly fearful they cannot win the next election under Tony Abbott and equally fearful of a public backlash should they oust him.

Australia Post would introduce a two-speed mail service with an increase in stamp prices of up to $1.50 for its priority service and $1 for regular mail, under a federal government rescue plan expected within two weeks.

Page 4: The federal opposition says the government must ‘‘come clean’’ on whether its 40-year budget outlook has used deflated estimates for population growth in a bid to maximise the scale of long-term debt and deficit, and the gulf between the size of the future workforce and the retirees it must support.

Page 6: Eric Abetz’s decision to wave the white flag on penalty rates and the minimum wage should, at first instance, infuriate business groups. But ultimately it should not surprise them.

Page 11: The weaker Australian dollar is starting to drive manufacturers back to Australia in a sign the economy is adjusting to a post-mining boom world, BlueScope Steel boss Paul O’Malley said.

Page 13: Petrol and diesel supplier Caltex Australia has rewarded shareholders with a near-trebling of its final dividend for 2014 but will give priority to acquisitions over an additional capital return.

Page 14: Westpac Banking Corp might review its dividend policy in 2016 if regulators introduce the high capital levels recommended by the financial system inquiry and if economic conditions deteriorate, Morgan Stanley analysts say.

Page 16: A cut-down version about one-third the current size of ailing education group Vocation is likely to emerge in April, when it finishes an asset sale process that chief financial officer Stewart Cummins says will enable it to begin afresh with a ‘‘clean sheet of paper’’.

Page 17: M2 Group chief executive Geoff Horth, whose company owns Dodo and iPrimus, says the national broadband network will not become a serious mainstream service for his company and its customers for at least 12 months.

Page 18: The future of Beach Energy’s shale exploration venture with Chevron is hanging in the balance as the US oil giant mulls whether to proceed with a second stage of drilling in the Cooper Basin.

The Australian

Page 1: Tony Abbott appears to have weathered the budget and leadership chaos to rank ahead of Bill Shorten as voters’ preferred steward of the economy and national security as the Coalition’s vote rose to a four-month high.

The low entry scores required to study teaching sent the message that “if you’re dumb you can be a teacher” — and setting minimum entry standards would achieve nothing because universities would find ways to game the system, says the man charged with raising teaching standards.

Page 2: Sri Lankan Prime Minister Ranil Wickremesinghe has defended his government’s decision to withdraw licence approval and millions of dollars in tax breaks for James Packer’s now-scrapped $450 million Colombo Crown casino project, saying there was “nothing in it” for the country.

Page 4: Construction heavyweight Lend Lease has revealed that the 30 per cent stake it owns in the East West Link toll road project is worth just $115.4 million, potentially debunking claims that compensation for the project could hit $1.1 billion.

Page 19: Another big player is on the prowl in the depressed oil and gas sector, with Caltex Australia saying it could make large acquisitions outside its core refining and marketing business, including in gas exploration and production.

Miners have urged Joe Hockey to “stay the course” on fiscal repair and called for the May budget to outline a national competitiveness agenda for the next decade.

Chinese e-commerce giant Alibaba is stepping up security on its platform for more than one million Australian customers, allowing them to trade more safely online and receive refunds where suppliers breach new “trade assurance provisions’’ on purchases.

Page 20: Green shoots are sprouting in Australia’s manufacturing sector, according to BlueScope’s chief executive Paul O’Malley, whose company reported a jump in profit, prompting it to pay its first dividend in four years.

Page 21: Rio Tinto has been granted access to Brazilian rival Vale’s Guinean iron ore mine plans in a bitter legal dispute between the global mining giants, in which Rio has accused Vale of conspiracy and theft of mine tenements.

Woolworths and eBay will unveil a joint venture this morning that is set to enhance the supermarket chain’s online channel as it locks horns with rival Coles and other internet retailers chasing the nation’s fast — paced growth when it comes to shopping online.

Page 28: We will have to spend a lot more for our gadgets this year as the dollar drops, but the tech fun factor for 2015 looks high as revolutionary virtual reality technology hits the mainstream.

The West Australian

Page 3: A new crisis has gripped Tony Abbott’s leadership after a senior figure in the Liberal Party organisational wing urged massive change in the Prime Minister’s Office to save the Government.

Page 4: Perth petrol prices have climbed to a two-month high, leaving motorists facing some of the most expensive fuel in the nation.

Tony Abbott’s proposal to strengthen bans on hate speech is looming as a new leadership flashpoint, with some Government MPs worried his national security campaign might infringe on liberties.

Page 5: The award-winning bar and restaurant complex Print Hall wants to extend its opening hours to 2am, claiming there is a lack of late night inner-city options for its mature and professional clientele.

Page 9: Healthway’s board has been riven by tensions between sporting groups and the public health lobby for as long as he has been a minister, Health Minister Kim Hames says.

Page 13: Perth’s heritage-listed Piccadilly Arcade could one day be a working cinema again under a $12 million redevelopment proposal.

The Town of Cottesloe has deferred a decision on its first five-storey beachfront development since height restrictions were lifted, amid concerns about parking.

Business: CBH is determined to hang on to its flour mill and malting investments in South-East Asia, but some of its 195 grain receival sites dotted throughout the Wheatbelt are on borrowed time.

AWE has joined its industry peers in taking the knife to asset values of its oil properties, warning of $50 million of after-tax impairments across its Cliff Head (WA) and Tui (off New Zealand) operations.

The Australian Maritime Safety Authority is investigating a serious accident in which two men were injured on a ship moored at Roy Hill’s Port Hedland wharf.

Australia Post has warned the Abbott Government faces a near $7 billion hole in its Budget as we ditch letters in favour of email and Twitter.

Loss-making Aspen Group is banking some extra cash by selling rental cabins laying vacant in the Pilbara to homebuyers in Perth.