Morning Headlines

Use it or lose it, miners warned

Resource giants will be told to step up their spending on mammoth new projects or risk losing their rights to tap the deposits, under an Abbott government plan to accelerate investment and kill off fears of an end to the boom. The Aus

Reserve hints at stricter lending rules

The Reserve Bank has put banks on notice it may prick a growing housing bubble with tough new rules on lending that could hit thousands of first-time buyers. The West

$2b Bell Group deal ends dark chapter

One of the darkest chapters in WA corporate history is set to come to a close with a $2 billion settlement of legal battles over the 1991 collapse of Alan Bond’s Bell Group. The West

Palmer accuses AEC of covering up poll ‘fraud’

Clive Palmer is demanding a recount and alleging fraud as scrutineers predict a nail-biting finish to his million-dollar bid to enter parliament. The Aus

Exit hits Samsung, Roy Hill

The push by Korean engineering giant Samsung C&T into the WA mining industry courtesy of a $US5.8 billion contract to build Gina Rinehart’s Roy Hill project, has struck its first major hiccup, with its most senior Australian executive set to depart. The West

Momentum builds for loan limits

Two top economists have called on regulators to rein in lending to avoid a housing bubble in a sign of the growing momentum for credit controls on the major banks and other lenders. The Fin

Fed Libs plan ‘frank’ chat with Premier over royalties

Incoming Industry Minister Ian Macfarlane wants to have a “frank” discussion with Colin Barnett to get the multi-billion dollar Browse liquefied natural gas project hurried along. The West

TPG fibre plan challenges NBN

TPG Telecom plans to build its own wholesale broadband network in built-up city areas, in a move that could undermine the new government’s plans for its $20.4 billion slimmed-down national broadband network. The Fin

Fortescue looks set to relieve debt

Fortescue Metals Group will spend $140 million to pay out the holders of high interest preference shares it issued during the global financial crisis to develop its West Australia iron ore operation as it aggressively seeks to cut debt. The Fin

The Australian Financial Review

Page 1: Two top economists have called on regulators to rein in lending to avoid a housing bubble in a sign of the growing momentum for credit controls on the major banks and other lenders.

TPG Telecom plans to build its own wholesale broadband network in built-up city areas, in a move that could undermine the new government’s plans for its $20.4 billion slimmed-down national broadband network.

Page 3: One of Sydney’s grandest waterfront residences is up for sale and set to create a record price for an Australian home.

Page 5: The newly-elected Coalition government faces higher interest charges to fund its deficit as foreign demand for Commonwealth bonds wanes despite issuance looking set to hit a record of $62 billion this year.

Page 6: The Abbott government believes Clive Palmer should pay his multi-million dollar carbon tax bill, saying his opposition to the policy and his party’s intention to vote for its abolition does not place him above the law.

Page 8: Female business leaders have largely condemned Tony Abbot’s inclusion of only one woman in his new cabinet and called on the Liberal Party to introduce quotas for female representation in the senior ranks of the party.

Page 10: Liberal-National governments in Western Australia and Queensland joined a push by NSW Premier Barry O’Farrell for an overhaul of federal-state relations following Tony Abbot’s election.

Page 15: The head of Woolworth’s liquor operations, Brad Banducci, has labelled as a “gross exaggeration” claims the big retail chains have become too powerful in negotiations with wine suppliers, rejecting concerns of Australia’s 2,500 wine companies.

Page 22: Fortescue Metals Group will spend $140 million to pay out the holders of high interest preference shares it issued during the global financial crisis to develop its West Australia iron ore operation as it aggressively seeks to cut debt.

The Australian

Page 1: Resource giants will be told to step up their spending on mammoth new projects or risk losing their rights to tap the deposits, under an Abbott government plan to accelerate investment and kill off fears of an end to the boom.

The nation’s powerful right wing unions are mobilising ALP members to vote for Bill Shorten in the rank-and-file leadership ballot, while parliamentary caucus members are being obliged to vote along factional lines more than at any other time in recent history to back the former union leader.

Australia has begun to enjoy the early benefits of the Asian food boom, with the value of national farm production tipped to soar to $50 billion this year on the back of rising world prices for beef, lamb and dairy products.

Page 3: Football Federation Australia will seek up to $43 million in compensation for its failed bid for the 2022 World Cup should football’s international governing body push the event back to Qatar’s winter.

Page 6: Clive Palmer is demanding a recount and alleging fraud as scrutineers predict a nail-biting finish to his million-dollar bid to enter parliament.

Page 17: Retail magnate Solomon Lew wants an urgent 50-basis-point cut in official interest rates before Christmas, as Premier Retail chief executive Mark McInnes said the economy was in the “cardiac arrest ward”.

Seven West Media chief operating officer Rohan Lund is understood to have resigned from Kerry Stoke’s media company after nine years occupying various senior roles across the business.

Page 20: New Hope, one of Australia’s largest coalminers, has warned of continued weak market conditions and lower output next year.

Page 25: Tony Abbott has structured his government for a hands-off approach to tertiary education and research, with both likely to be handed to ministers focused on other areas.

Students who take gap years between high school and university often perform better, according to a study that challenges conventional thinking.

The West Australian

Page 1: One of the darkest chapters in WA corporate history is set to come to a close with a $2 billion settlement of legal battles over the 1991 collapse of Alan Bond’s Bell Group.

Page 4: The State Government will dock the pay of teachers and other staff attending tomorrow’s stop-work meeting, with Premier Colin Barnett declaring the industrial action cannot be justified. The Barnett Government will delay by a year the introduction of school fees for the children of overseas workers on 457 temporary work visas and offer a “family discount” for those with more than one child attending WA’s public schools.

Page 18: Incoming Industry Minister Ian Macfarlane wants to have a “frank” discussion with Colin Barnett to get the multi-billion dollar Browse liquefied natural gas project hurried along.

Page 26: The Reserve Bank has put banks on notice it may prick a growing housing bubble with tough new rules on lending that could hit thousands of first-time buyers.

Business: The push by Korean engineering giant Samsung C&T into the WA mining industry courtesy of a $US5.8 billion contract to build Gina Rinehart’s Roy Hill project, has struck its first major hiccup, with its most senior Australian executive set to depart.

Aluminium giant Alcoa has had a win in its bid to recoup more than $100 million from gas producer Apache over the Varanus Island plant explosion in 2008.

Embattled lithium producer Galaxy Resources is once again hitting the equity markets, announcing plans to raise up to $29.3 million arising out of the shortfall from its recent one-for-one rights issue.

Premier Colin Barnett has weighed into the debate over the Federal Government’s plans to tighten rules on foreign investment and its relationship with China.

Broad Construction has been accused of sending small North West contractors to the wall amid accusations of mismanagement of the construction of a recruitment centre, part of Rio Tinto’s $200 million refurbishment of the Pilbara town of Wickham.