Today's Business Headlines

Big banks cut cash needs as loans slip
Australia's big banks are planning to significantly scale back the amount of money they will raise on international credit markets next year as demand for lending falls away as a result of the slowing national economy. The West

Centro scheme costs staff $265m
Employees of the battered Centro Properties Group are understood to have sustained losses of about $265 million on their holdings in the company since it ran into trouble in December. The Australian

Tanner confirms budget on track
The Rudd government has signed off on $2.2 billion in savings from public sector cuts and tougher tax compliance, in moves to deliver a federal budget surplus above its target of 1.5 per cent of GDP. The Fin Review

QBE to extend deadline
The global insurer QBE is set to extend the deadline for its $8.1 billion takeover approach to the domestic player Insurance Australia Group. The Sydney Morning Herald

Fong, Birney floats on verge of ASX listing
The corporate venture of former Health Department director-general Neale Fong adn former Opposition leader Matt Birney have overcome delays in their planned stockmarket listing. The West

THE WEST AUSTRALIAN

Business: Australia's big banks are planning to significantly scale back the amount of money they will raise on international credit markets next year as demand for lending falls away as a result of the slowing national economy.

The corporate venture of former Health Department director-general Neale Fong adn former Opposition leader Matt Birney have overcome delays in their planned stockmarket listing.

Page 1: A $1 billion social justice package targeting disabled people and "at risk" groups such as Aborigines and new migrants will be a centrepiece of tomorrow's state budget. Frustration over the continuing sprawl of Melbourne's suburbs and lack of progress in providing public transport have led to mounting pressure for a new authority to guide the city's future.

Page 3: Anti-pokies crusader Nick Xenophon will press the Rudd government to introduce a Commonwealth levy on poker machines, similar to the 70 per cent tax rise on alcopop drinks announced last week.

Finance: Times have been good for British Gas Group - the global gas giant is trying to woo Origin Energy shareholders with a 40 per cent premium on their share price.

HERALD SUN

Finance: Microsoft pulled its $US50 million ($A53.67 billion) offer for Yahoo at the weekend, ending a four-month duel that captured the attention of US investors.