Morning Headlines

Turnbull approaches King over NBN

Former Leighton Holdings chief executive Wal King has been approached by Communications Minister Malcolm Turnbull about joining the Coalition’s NBN Co board. The Fin

Fast-track runway, new airport

The state government has called on Perth Airport to fast-track a third runway while flagging the search for a new airport site. The West

Tony ‘OK, but boat talks a must’

The leading declared candidate in next year’s Indonesian presidential race, Prabowo Subianto, has called for better communication with the Australian government and expressed confidence in Tony Abbott’s goodwill.  The Aus

Grand Mufti threatened Labor over Israel ‘bias’

Australia’s senior Islamic cleric threatened to withdraw community support for federal Labor in Western Sydney if union leader Paul Howes replaced Bob Carr in the Senate, a leaked email reveals. The Fin

DIY super funds take $80bn property bite

The Reserve Bank has warned that an $80 billion plunge into the property market by self-managed superannuation fund trustees risks pushing up house prices and undermining financial stability. The Aus

Bank discourages speculation

The Reserve Bank of Australia has for the first time acknowledged parts of the property market could be prone to overheating, making it harder to deliver further interest rate cuts if the economy slumps further. The Fin

Palmer wants government handout

Businessman Clive Palmer wants the government to give his fledgling political party, which is likely to have a lot of clout in the new Senate, extra personnel to help with its legislative workload. The Fin

Telstra: job cuts won’t affect NBN

Telstra has insisted a major round of job cuts focused on technicians working on its vast copper network will not jeopardise a future bid to win billions of dollars in construction contracts with NBN Co. The Fin

Chief of staff leads exodus from Milne

Greens leader Christine Milne has lost six of her senior staff members, including her chief of staff Ben Oquist, who allegedly left because of ‘‘fundamental differences of opinion on strategy’’ between the pair. The Aus

James Price Point no loss-maker: Barnett

West Australian Premier Colin Barnett claims the Woodside Petroleum-led Browse liquefied natural gas project would still have generated healthy profits if it had been built at James Price Point in the Kimberley.  The Aus

Another Chinese takeaway for Karara

Gindalbie Metals has been forced to go cap in hand to its Chinese partner for another $US230 million of working capital for its Karara magnetite operations, as the company yesterday unveiled the debt woes of its major operating subsidiary. The West

Macfarlane confirms drill tax break

Three months after seeing first hand the “disaster” facing the Goldfields drilling sector, freshly minted Industry Minister Ian Macfarlane yesterday confirmed the Coalition's election promise to create a $100 million Exploration Development Incentive would be in the May budget. The West

The Australian Financial Review

Page 1: Australia’s senior Islamic cleric threatened to withdraw community support for federal Labor in Western Sydney if union leader Paul Howes replaced Bob Carr in the Senate, a leaked email reveals.

The Abbott government wants to create a “level playing field” between different types of retirement nest eggs following tax changes in 2007 that triggered an $80 billion surge into property by self-managed super funds.

Page 2: China has banned imports of chilled Australian beef sighting concerns over food safety, but the measure is being viewed by producers as a non-tariff barrier designed to protect the local industry.

Virgin Australia has renewed its lucrative AFL official airline sponsorship in a move that will lock out other football codes and sports from any similar deals with the airline.

Page 4: The Reserve Bank of Australia has for the first time acknowledged parts of the property market could be prone to overheating, making it harder to deliver further interest rate cuts if the economy slumps further.

Page 6: Former Leighton Holdings chief executive Wal King has been approached by Communications Minister Malcolm Turnbull about joining the Coalition’s NBN Co board.

Businessman Clive Palmer wants the government to give his fledgling political party, which is likely to have a lot of clout in the new Senate, extra personnel to help with its legislative workload.

Page 7: John Howard’s construction industry watchdog chief has urged the Coalition to reinstate the body as soon as possible.

The Australian

Page 1: The minister responsible for educating the highest number of indigenous students in Australia says the school system is failing Aborigines, who are being ‘‘treated like rubbish’’ by the community.

The family of David Mandie, the pioneer of duty-free retailing in Australia and for decades the biggest donor to the Richmond Australian Football League club, has gone to war and is set for a savage courtroom showdown next month after the patriarch cut his two sons out of his will.

The Reserve Bank has warned that an $80 billion plunge into the property market by self-managed superannuation fund trustees risks pushing up house prices and undermining financial stability.

Page 2: Financial services will be thrown open to stronger competition under government plans to remove burdens on business amid official warnings on the need for reforms to lift economic growth.

Page 3: The Coalition faces an early test of its promise to cut federal funds to supporters of the boycott, divestment and sanctions campaign against Israel, with a large grant sought by academic Jake Lynch due to be decided next month.

The Coalition faces an early test of its promise to cut federal funds to supporters of the boycott, divestment and sanctions campaign against Israel, with a large grant sought by academic Jake Lynch due to be decided next month.

Page 5: NSW is heading for an energy supply crisis but the state government’s environmental restrictions on coal-seam gas are not to blame, says NSW Energy Minister Chris Hartcher.

The gas industry has been a critic of the O’Farrell government since a 2km buffer zone around residences was announced in February, with companies walking away from NSW amid claims the regulations had killed the industry.

A former military policewoman confirmed yesterday as the Palmer United Party’s first senator wants to stop the Coalition’s paid parental leave scheme and has dismissed its claim of a mandate for reforms.

Greens leader Christine Milne has lost six of her senior staff members, including her chief of staff Ben Oquist, who allegedly left because of ‘‘fundamental differences of opinion on strategy’’ between the pair.

Page 8: The leading declared candidate in next year’s Indonesian presidential race, Prabowo Subianto, has called for better communication with the Australian government and expressed confidence in Tony Abbott’s goodwill.

Page 17: Department store chain David Jones has signalled a long-awaited change in fortunes, with sales picking up since the federal election this month and the retailer leveraged to quickly capitalise on any improvement in consumer sentiment.

Page 18: West Australian Premier Colin Barnett claims the Woodside Petroleum-led Browse liquefied natural gas project would still have generated healthy profits if it had been built at James Price Point in the Kimberley.

The West Australian

Page 1: WA's love of traditional punting has grown with a record $820 million spent on Lotto last financial year, defying a barrage of advertising for online betting by “men in stylish suits”.

Page 3: The state government has called on Perth Airport to fast-track a third runway while flagging the search for a new airport site.

Page 11: Perth's road network faces more upheaval with new dedicated bus lanes planned for some of the city's most congested areas.

Page 14: Jakarta has lashed the Abbott government's plan to turn back asylum boats, warning it would violate Indonesia's sovereignty.

Page 17: Premier Colin Barnett has slapped down key elements of his Energy Minister's reform blueprint, opening a confusing policy rift within the state government.

Plans to connect the city and the Swan River are a step closer with construction of the proposed inlet starting at the Elizabeth Quay site yesterday.

Page 21: A well-known London newspaper columnist has described Perth as a cutting-edge city where rich miners come to party “carrying their money in plastic bags”.

The City of Bunbury has suspended 12 employees without pay after they failed a urine drug test this month as the council drug tests about 200 staff.

Business: Gindalbie Metals has been forced to go cap in hand to its Chinese partner for another $US230 million of working capital for its Karara magnetite operations, as the company yesterday unveiled the debt woes of its major operating subsidiary.

Fortescue Metals Group has scored a recruitment coup, stealing former Telstra Businesswoman of the Year Julie Shuttleworth from Barrick Gold and installing her as head of the Cloudbreak operation in the Pilbara.

Three months after seeing first hand the “disaster” facing the Goldfields drilling sector, freshly minted Industry Minister Ian Macfarlane yesterday confirmed the Coalition's election promise to create a $100 million Exploration Development Incentive would be in the May budget.

BHP Billiton chairman Jac Nasser has warned shareholders to prepare for a further softening of commodity prices in the short-term.

Transport Minister Troy Buswell has ruled out intervening to keep grain on rail as time runs out for Brookfield and CBH to reach a deal to prevent the closure of ageing Tier 3 lines in the Wheatbelt.

A former Clough subsidiary is being pursued through the courts by a US subsea engineering company for about $3 million for work on the Gorgon liquefied natural gas project.

The Reserve Bank has raised concerns about self-managed superannuation funds piling into a debt-fuelled property binge, fearing it could create a property super-cycle.