06/09/2013 - 06:45

Morning Headlines

06/09/2013 - 06:45

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Hockey to raise debt ceiling

An incoming Coalition government will have to lift the $300 billion debt ceiling as one of its first acts after shadow treasurer Joe Hockey's final costings promised to make only small inroads into Australia's debt and deficit. The Fin

Shades of Keating landslide for Labor

Labor is only a handful of seats away from a repeat of the 1996 wipe-out of Paul Keating’s government, as strategists on both sides predict Kevin Rudd could lose about 20 seats to be left with just 50. The Aus

Coalition guarantees WA projects... for now

The coalition has denied Labor claims it has axed a raft of WA road projects – but Liberal Senator Mathias Cormann says any infrastructure spending beyond the budget forward estimates will have to be worked out between a future Abbott government and states. The West

Energy intensity points to penalties

Mining and gas producers could be exposed to penalties under the Coalition's Direct Action policy as they become more energy intensive. The Fin

Thousands of faults hit rushed NBN

The company building Labor’s $37.4 billion National Broadband Network could be forced to repair tens of thousands of faulty connections after cutting corners in the construction processes to boost the number of homes passed by the massive infrastructure project. The Aus

Boom defies PM's gloom

Kevin Rudd’s warnings about the end of the resources boom must come as a continuing surprise to Australia’s miners, whose iron ore and coal exports to China and Japan have set new records. The Aus

Poll winner to bank LNG, iron ore prize

The next federal government is poised to reap the spoils of a major economic boost and multi-billion-dollar revenue windfall by 2016 as a result of the recent construction boom in Australia’s liquefied natural gas and iron ore sectors. The Aus

Energy giant's big play for WA grain

One of the world's biggest trading companys, Swiss-based Vitol, has made a stunning entry into the WA grain market. The West

Dunn slams offshore claims

Alleged fraud conspirator Greg Dunn has attacked claims that mining contractors Peter Bartlett and Ron Sayers secreted profits overseas to dodge a potential huge tax bill. The West

 

The West Australian

Election wrap:

Page 1: West Coast's bombshell that favourite son and coach John Worsfold has stepped down after 12 seasons shocked even the players yesterday.

Page 2: The coalition has denied Labor claims it has axed a raft of WA road projects – but Liberal Senator Mathias Cormann says any infrastructure spending beyond the budget forward estimates will have to be worked out between a future Abbott government and states.

Opposition Leader Tony Abbott will cut $8 billion worth of infrastructure projects across the country, including $1 billion from WA roads and rail if he is elected.

Page 5: Kevin Rudd used his final set piece campaign event yesterday to implore voters not to forget his government saved Australia from a recession.

Page 7: Businessman and aspiring prime minister Clive Palmer says he will sue Rupert Murdoch and has accused the media tycoon's estranged wife of spying for Chinese intelligence.

Daily newspaper

Page 5: More public high school students are set to be taught in demountable classrooms as the state government tries to shave $68 million off the Department of Education's capital works bill for the next four years.

Page 11: Bike riders, pedestrians and disabled road users say they have lost their voice on road safety with the Barnett government cutting a key adviser.

Business: One of the world's biggest trading companys, Swiss-based Vitol, has made a stunning entry into the WA grain market.

Australia's most successful prospector, Mark Creasy, has made a rare public appearance to help celebrate Sirius Resources' discovery of arguably the best nickel find globally in the past 20 years.

Alleged fraud conspirator Greg Dunn has attacked claims that mining contractors Peter Bartlett and Ron Sayers secreted profits overseas to dodge a potential huge tax bill.

Retail in the northern suburbs is set for a shake-up as Westfield Group moves to take over Karrinyup Shopping Centre though a deal with the competition watchdog that will result in the sale of nearby Westfield Innaloo.

A move to spill the board of Bass Metals next month is shaping up to be a fiery affair, after the company's major shareholder lodged complaints about the Bass meeting notice with regulators.

 

The Australian Financial Review

Page 1: An incoming Coalition government will have to lift the $300 billion debt ceiling as one of its first acts after shadow treasurer Joe Hockey's final costings promised to make only small inroads into Australia's debt and deficit.

Newcrest Mining will overhaul how it discloses information to investors and analysts as a result of an internal investigation that found no evidence the company broke its own rules when its shares plunged in the days before a big profit downgrade in June.

Page 4: The difference between Labor and the Coalition on the budget amounts to a rounding error, while the likely drag on the economy from the opposition's spending cuts would be negligible, economists said.

Page 9: Prime Minister Kevin Rudd is heading for a defeat of the same magnitude Labor faced under Julia Gillard, betting odds data shows.

Page 10: Mining and gas producers could be exposed to penalties under the Coalition's Direct Action policy as they become more energy intensive.

Page 12: An Abbott government would veto what it regards as wasteful history, philosophy and arts research projects, a decision that has upset the research community.

Page 15: Failed forestry company Great Southern became so desperate for land to satisfy its investors it planted trees in areas where they were almost certain to die.

Page 19: Australian retailers are searching overseas for skilled staff because years of cost cutting, underinvestment in training and the online retail boom has led to a critical skills shortage in the sector.

 

The Australian

Page 1: The company building Labor’s $37.4 billion National Broadband Network could be forced to repair tens of thousands of faulty connections after cutting corners in the construction processes to boost the number of homes passed by the massive infrastructure project.

The Coalition has sparked a political firestorm over its budget plans by unveiling deep cuts to foreign aid and an unverified saving on border protection among dozens of new measures aimed at cutting outlays by $42 billion.

The head of the Australian Human Rights Commission has publicly rebuked one of her most experienced commissioners for launching an unauthorised, wrong and damaging social media attack on retailer Myer.

Labor is only a handful of seats away from a repeat of the 1996 wipe-out of Paul Keating’s government, as strategists on both sides predict Kevin Rudd could lose about 20 seats to be left with just 50.

Page 2: Kevin Rudd’s warnings about the end of the resources boom must come as a continuing surprise to Australia’s miners, whose iron ore and coal exports to China and Japan have set new records.

Page 6: Rail operators have slammed the Coalition’s plans to dump federal funding for urban passenger rail projects including the cross-river project in Kevin Rudd’s home town Brisbane in favour of roads.

The Coalition’s plan to slash foreign aid by $ 4.5 billion if it wins government has been widely condemned by aid agencies.

Page 7: Tony Abbott was last night forced to abandon his published cyber safety policy after it suggested the Coalition supported the introduction of a default internet filter with an ‘‘opt out’’ option.

Page 11: Tony Abbott has led a chorus of concern about the control of the parliament, as business warned yesterday the next government should be free to deliver its mandate without a Senate roadblock.

Page 12: Government is almost in its grasp but the Liberal Party has left nothing to chance in the final days of the campaign, this week launching a free- to- air television advertising blitz in five major cities.

Business: The next federal government is poised to reap the spoils of a major economic boost and multi-billion-dollar revenue windfall by 2016 as a result of the recent construction boom in Australia’s liquefied natural gas and iron ore sectors.

Company directors and chief executives have rounded on the federal Coalition’s $5.5- billion-a-year paid parental leave policy, warning it should at least be means tested and would make little difference in helping women to return to work.

A mysterious network of Singapore business identities who took a major stake in the Joseph Gutnick- chaired Merlin Diamonds this year has now infiltrated the share registry of listed Perth gold explorer Bass Metals before a shareholder vote aimed at rolling the board.

The powerful Maritime Union of Australia has slammed a decision by energy giant Chevron to sign up Chris Corrigan’s Qube Holdings in a bid to improve the logistical issues hurting the $52 billion Gorgon LNG development, questioning Qube’s safety record and accusing Chevron of misleading the public.

The recent decline in the Australian dollar, which important sect ors of the country had long sought, happened without significant government or central bank intervention, noted Standard & Poor’s chief global economist Paul Sheard in Melbourne yesterday.

The competition watchdog is ‘‘close to the end’’ of its investigation into the petrol discounting schemes of Coles and Woolworths, as the retail chains press their argument that petrol retailing is a competitive market.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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