Greens pave way for climate deal –The Fin; Two-speed economy leaves many trapped by big bills –The West; WA electricity chiefs reject regulator criticism –The Fin; Disgruntled miners told to prove claims –The West; Patersons makes mark at Subiaco –The Fin
Greens pave way for climate deal
The Gillard government has secured a commitment from the Greens to put all aspects of climate change policy up for negotiation in a new initiative aimed at finalising a "consensus" policy that will include direct input from business. The Fin
Two-speed economy leaves many trapped by big bills
WA is facing its own two-speed economy as those who enjoy the benefits of the new resources boom leave behind people trapped by increasing costs of living. The West
WA electricity chiefs reject regulator criticism
Two of Western Australia's top electricity executives have brushed off criticisms by the state's economic regulator that a change to a key pricing contract between their government-owned companies is anti-competitive. The Fin
Disgruntled miners told to prove claims
The Federal Government's mining tax panel is asking disgruntled miners to back up their criticisms with hard evidence, calling on affected companies to submit financial modelling on the impact of the tax. The West
Patersons makes mark at Subiaco
Perth-based stockbroking firm Patersons Securities has bought the naming rights to Subiaco Oval in a deal worth about $1 million a year to the West Australian Football Commission. The Fin
THE WEST AUSTRALIAN:
Page 1: Elite Australian soldiers facing jail over a botched raid in Afghanistan that left five children dead have defended their actions, insisting they did the right thing in "truly awful circumstances" when they came under attack.
Page 4: The Gillard government appears determined to put a price on carbon before the next election after announcing a cross-party climate change committee charged with developing a market-based mechanism to reduce carbon pollution.
Page 6: WA is facing its own two-speed economy as those who enjoy the benefits of the new resources boom leave behind people trapped by increasing costs of living.
Page 7: The two-speed economy is hitting hardest those working in the retail sector who rely on their weekly pay to get by.
Page 12: The Federal budget could slip back into deficit despite the Gillard government's forecast it will be back in the black in three years, a leading economics firm predicts.
Page 13: The redevelopment of vacant upper floor spaces across the central business district - considered crucial to creating an after-hours buzz in the city - is being hampered by a combination of red tape, heritage rules and financial disincentives, a new report has found.
Page 16: Colin Barnett has seized on figures showing the annual rent for government offices has practically doubled in five years to more than $100 million as justification for the planned relocation of State bureaucracies out of the central business district.
Page 24: WA's cultural heritage is at risk of being lost or irreparably damaged because the state has no new storage space for its valuable archives, according to the State Records Commission chairman Colin Murphy.
Page 26: The building industry watchdog will be without a boss from today because the Federal Government has not named a replacement.
Page 33: The push is on to get more creative industries such as information technology, design and fashion into Northbridge in a bid to diversity the entertainment precinct beyond just "restaurants, pubs and clubs".
Business: The Federal Government's mining tax panel is asking disgruntled miners to back up their criticisms with hard evidence, calling on affected companies to submit financial modelling on the impact of the tax.
Murchison Metals tried yesterday to quash long-running speculation that joint venture partner Mitsubishi Corp was poised to withdraw from their Mid-West iron ore project and the Oakajee port, although the assurances failed to soothe market jitters.
The move by Wesfarmers to invest $600 million in 18 new Bunnings stores in NSW - including opening the biggest hardware store in the country - sends a powerful message to competitors that the Perth-based conglomerate will play tough in the battle to retain No. 1 position.
Some of Australia's biggest companies including BHP Billiton and Macquarie Group are pushing for a watering down of disclosure surrounding long-term executive pay schemes, after the value of some packages blew out in recent years.
Nufarm has gained a short reprieve as investors brace for the besieged farm chemicals group's crucial full-year results today.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: The Gillard government has secured a commitment from the Greens to put all aspects of climate change policy up for negotiation in a new initiative aimed at finalising a "consensus" policy that will include direct input from business.
The Australian Securities and Investments Commission has written to the 14 largest accounting firms, concerned that a reduction in audit fees over the past 12 months reflects lower quality auditing of company accounts.
Retail investors who buy into the $3 billion-plus QR National float will be offered a discount of up to 10 per cent on their shares as the Queensland government attempts to ensure the year's biggest initial public offering is a success.
Page 3: The government's infrastructure adviser, Infrastructure Australia, should be overhauled and reforms pursued to allow the private sector, including superannuation funds, to play a bigger role in delivering key projects, Treasury has told the Gillard government.
Page 4: Australia's longest running and most costly court case just got $16.8 million more expensive, after Western Australia's Insurance Commission topped up its funding of liquidators pursuing banks in the case.
Perth-based stockbroking firm Patersons Securities has bought the naming rights to Subiaco Oval in a deal worth about $1 million a year to the West Australian Football Commission.
Two of Western Australia's top electricity executives have brushed off criticisms by the state's economic regulator that a change to a key pricing contract between their government-owned companies is anti-competitive.
Page 7: Farmers are urging the federal government to work with insurance companies to help them protect their crops against drought, as part of an overhaul of farm support to encourage them to manage risk and prepare for tough times.
More than 100 farmers in Western Australia have applied for income support as part of a trial of drought assistance reforms that has coincided with a poor season for the state's grain growers.
Page 8: Businesses will be able to talk directly with government about the interaction between its climate policies and mining tax through a new round table chaired by Treasurer Wayne Swan and Climate Change and Energy Efficiency Minister Greg Combet.
Page 9: The federal budget bottom line will improve in 2011-12 on stronger revenue from the China boom but will fall back into deficit later as commodity prices fade, according to Access Economics.
Page 10: In an attempt to sooth industry concerns, Treasurer Wayne Swan and Resources Minister Martin Ferguson yesterday assured miners the government would consult widely on its minerals resource rent tax over the next two months.
Page 11: The federal government will, within days, announce the successor to John Lloyd, head of the Office of the Australian Building and Construction Commission, who steps down today after five years.
Page 14: Mid-sized accounting firms are discounting audit fees in a battle to increase market share and keep staff busy after a grim couple of years.
Page 20: For the first time in 25 years, struggling herbicides group Nufarm will not pay a final dividend after securing a short term reprieve from the banking syndicate overseeing its $1.6 billion debt facilities.
Page 45: Murchison Metals has assured investors that its Japanese partner Mitsubishi remains committed to taking part in the company's multi-billion-dollar mine and infrastructure projects in Western Australia's mid-west region.
Page 52: Offshore buyers have continued to dominate acquisitions of Australian office towers in 2010 as domestic buyers bide their time.
Page 56: Coastal housing markets have hit their lowest point and prices are starting to rise, but experts say the recovery will be slow.
THE AUSTRALIAN:
Page 1: Three special forces soldiers will face an unprecedented court martial over the deaths of six people in Afghanistan, including five children, raising serious concern within the military about the effect the action will have on Diggers fighting on the front line.
Tony Abbott will inhibit Julia Gillard's ability to travel during parliamentary sittings by insisting she attend all House of Representatives votes unless she can convince him her absence is in the national interest.
Key independent Tony Windsor has expressed concern about the impact of a carbon price on the cost of food as he joins Julia Gillard's top-level Climate Change committee.
Page 2: A back-up for Virgin Blue airlines' computerised reservations and check-in system took more than 14 times longer than it should have to kick in, plunging domestic air travel into a second day of turmoil.
Doctors are demanding that the West Australian government take urgent action to trial shatter-proof glasses in pubs and clubs after a 41-year-old woman nearly lost an eye in a glassing in a Perth bar, following a spate of such attacks.
Page 4: Malcolm Douglas's wilderness and crocodile parks were more of a lifestyle proposition than a commercial one, and his son, Lachlan, is not sure they can continue now he is gone.
Page 6: A dramatic overhaul of political donations laws is needed, including tougher disclosure laws and campaign expenditure caps as low as $100,000 per electorate, says new federal Special Minister of State Gary Gray.
American billionaire Steve Forbes has warned the Gillard government that the National Broadband Network project could be obsolete by the time it is built.
Page 7: The federal government has dropped its opposition to strong shield laws for journalists' confidential sources and will support a proposal drawn up by independent MPs Andrew Wilkie and Nick Xenophon.
Business: The battle for market share in the $30 billion hardware sector is heating up, with the Wesfarmers-owned Bunnings chain flagging a $600 million investment in 18 new stores.
Nufarm has won a short-term reprieve from its lenders, which have agreed to provide further funding in return for tighter controls over the struggling business.
The Australian government is poised to signal its support for Chinese efforts to build steel mills in Australia as it tries to take advantage of China's booming steel sector.
The panel advising the Gillard government on its controversial mining tax says it faces a ''challenging timeframe'' to report by December, but its recommendations will pave the way for legislation to be introduced into parliament next year.
Indian fertiliser tycoon Pankaj Oswal's bid to abandon plans for a $3 billion float of his flagship company Burrup Holdings has been thrown into doubt after key shareholder Yara International objected to the move.
The major Australian banks have begun talks with the federal government to prepare for the contentious credit card fee crackdown foreshadowed during the election campaign.