26/11/2007 - 06:23

Today's Business Headlines

26/11/2007 - 06:23

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Rudd poised to end AWAs by February; Market expected to be positive after poll; Costello clocks off as Howard's flaws are exposed; Rio Tinto to launch own offensive on BHP bid; Spitfire closes $6m float subscriptions early.

Today's Business Headlines

Rudd poised to end AWAs by February
Companies may have less than three months to sign up staff to Australian Workplace agreements after maverick Nationals Senator Barnaby Joyce yesterday gave his strongest sign yet that he would support Kevin Rudd's plans to end the controversial contracts. The West

Market expected to be positive after poll
The election of a Labor Federal Government for the first time in more than a decade is expected to be shrugged off by investors today, with the sharemarket tipped to open higher on the back of a rally on Wall Street on Friday. The West

Costello clocks off as Howard's flaws are exposed
A calm, smiling Peter Costello, accompanied by his wife, yesterday abandoned his political career. The Fin Review

Rio Tinto to launch own offensive on BHP bid
Rio Tinto is set to launch its counter-offensive to BHP Billiton's spurned $400 billion merger proposal at an investor briefing in London tonight. The West

Spitfire closes $6m float subscriptions early
Spitfire Resources has become the latest junior explorer to ride the mining boom on the bourse, confirming yesterday that its $6 million initial public offer has closed early and oversubscribed. The West


THE WEST AUSTRALIAN
Page 1: Companies may have less than three months to sign up staff to Australian Workplace agreements after maverick Nationals Senator Barnaby Joyce yesterday gave his strongest sign yet that he would support Kevin Rudd's plans to end the controversial contracts.

Millionaire MP Malcom Turnbull last night emerged as the frontrunner to lead the Liberal Party in disarray, with Brendan Nelson and Tony Abbott also expected to nominate for leadership roles.

Alan Carpenter unprecedented bid to have Shelley Archer and Anthony Fels expelled from State Parliament could hit major hurdles tomorrow, with the Liberal Party considering a plan to have concerns about the contentious Upper House report which found the MP's guilty of contempt reviewed by another committee.

Business: The election of a Labor Federal Government for the first time in more than a decade is expected to be shrugged off by investors today, with the sharemarket tipped to open higher on the back of a rally on Wall Street on Friday.

Spitfire Resources has become the latest junior explorer to ride the mining boom on the bourse, confirming yesterday that its $6 million initial public offer has closed early and oversubscribed.

Rio Tinto is set to launch its counter-offensive to BHP Billiton's spurned $400 billion merger proposal at an investor briefing in London tonight.

THE AUSTRALIAN FINANCIAL REVIEW

Page 1: John Howard has taken responsibility for his party's election loss, which will end eleven-and-a-half years of conservative rule; As prime minister, Kevin Rudd is likely to build on Australia's strong economy rather than spend time changing the economic reform introduced by the coalition government; A calm, smiling Peter Costello, accompanied by his wife, yesterday abandoned his political career.

Page 3: Kevin Rudd's handpicked ministry is likely to overlook a number of frontbenchers when announced on Thursday.

World: Despite rising oil prices and other economic pressures, American consumers spent $US10.3 billion ($A11.7 billion) on holiday purchases on Friday, attracted by electronics and toys as part of a promotional campaign.



THE AUSTRALIAN

Page 1: Prime Minister-elect Kevin Rudd has told world leaders during his first day in the top job that he plans to ratify the Kyoto protocol on climate change within weeks; Blue-collar workers, under-35s and single mothers have been identified as the key demographic blocs to turn against John Howard at the election; Sketch writer for The Australian newspaper, Matt Price, 46, who was diagnosed with brain tumours less than two months ago, has died at his Perth home; Up to nine Liberal MPs are expected to join in the race for the party's leadership following Peter Costello's shock resignation.

Page 2: Tardiness by the incoming Labor government to dump John Howard's workplace laws could mean workers are worse off for longer than necessary, a senior union official claims.

Page 3: Prominent Labor officials are expected to pressure Kevin Rudd to ease the coalition's Northern Territory intervention program, with many claiming the move is draconian.

Finance: Australian businesses hope the incoming Labor government will mean improved relations between federal and state authorities.



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