PM urged to tackle business taxes – The Fin; Daylight saving 'to cost millions' – The Aus; Rules will 'send shops to wall' – The West; Magnetite players put case – The West; Compass faces legal action over sale – The West
PM urged to tackle business taxes
The Gillard government is under growing pressure to consider imposing a national tax regime for businesses and to force the states to abolish inefficient taxes such as payroll tax and stamp duties on insurance and commercial property. The Fin
Daylight saving 'to cost millions'
The return to a three-hour time gap between east and west for the next six months will cost businesses in Western Australia millions of dollars in lost productivity. The Aus
Rules will 'send shops to wall'
WA's discriminatory Sunday trading rules are already hurting significant parts of the retail sector, with the main industry body warning yesterday that some store owners would be sent to the wall because they were prohibited from competing on equal footing with their rivals. The West
Magnetite players put case
WA's magnetite players will meet today to discuss how to mount their case to be excluded from the mineral resources rent tax after the committee charged with finetuning it said it favoured a taxation point that would benefit the fledgling industry. The West
Compass faces legal action over sale
Loss-making Compass Hotel Group is facing the prospect of legal action from a disgruntled would-be buyer of one of its Perth pubs as it works to bed down an interim funding lifeline with its financier. The West
THE WEST AUSTRALIAN:
Page 3: WA's discriminatory Sunday trading rules are already hurting significant parts of the retail sector, with the main industry body warning yesterday that some store owners would be sent to the wall because they were prohibited from competing on equal footing with their rivals.
Page 4: Australia's commitment to the war in Afghanistan is not capped and will be boosted if the military chiefs request it, Prime Minister Julia Gillard says.
Interest rates may not go up tomorrow but are almost certain to rise before the end of the year, thanks in part to China's insatiable demand for Australia's resources, analysts say.
Page 5: WA Police Commissioner Karl O'Callaghan has described a corruption inquiry into the Andrew Mallard affair as a "completely pointless exercise" which left him unable to take effective action against two senior policemen.
Page 7: New Delhi was in the grip of an unprecedented security lockdown last night as the Indian capital defied early fears to host a vibrant and successful opening ceremony to the Commonwealth Games.
Page 9: Lazy beachgoers are polluting WA's coastline with more and more rubbish, a study by litter regulators has shown.
Page 10: Perth's secondary hospitals are struggling to cope with the number of patients, with figures showing they are hot spots for ambulances that are diverted away because their emergency departments are full.
Page 15: East Perth's historic cemeteries could be placed on the National Heritage List.
Business: WA's magnetite players will meet today to discuss how to mount their case to be excluded from the mineral resources rent tax after the committee charged with finetuning it said it favoured a taxation point that would benefit the fledgling industry.
Loss-making Compass Hotel Group is facing the prospect of legal action from a disgruntled would-be buyer of one of its Perth pubs as it works to bed down an interim funding lifeline with its financier.
Perth broking house Argonaut Securities has been sounding out Sphere Minerals shareholders on behalf of a consortium backed by Chinese steel mills, adding to speculation about a looming bidding war.
Senior Commonwealth Bank of Australia executives, including its boss Ralph Norris, face a financial hit if the banking group opts to lead the repricing of mortgage rates above any moves in the official cash rate.
THE AUSTRALIAN FINANCIAL REVIEW:
(Top online headlines)
The Gillard government is under growing pressure to consider imposing a national tax regime for businesses and to force the states to abolish inefficient taxes such as payroll tax and stamp duties on insurance and commercial property.
The Reserve Bank of Australia may launch a pre-emptive strike against inflation tomorrow, with policymakers expected to raise interest rates for the first time since May amid concerns the mining boom is straining the economy's capacity.
Telstra has come out fighting after its $1 billion turnaround strategy failed to impress investors last week, asking for 18 months' grace for the controversial plan to deliver results.
Junior resource companies raised more capital from investors during September than in any other month this year, taking advantage of improved investor sentiment and soaring commodity prices.
BHP Billiton has requested that a US court dismiss a lawsuit filed by PotashCorp of Saskatchewan, which alleges that BHP misrepresented material facts related to its $39 billion hostile bid.
Wet weather has forced Wesfarmers to lower production guidance for its Curragh coalmine in Queensland.
Elders has agreed to give Canadian Agrium access to its Hi-Fert books, paving the way for the long-awaited sale of its share in the business it owns with AWB.
Foster's Group has restructured its European wine division, marking the end of an 18-month overhaul for its Treasury Wine Estates group, which it is preparing to demerge from its beer division.
THE AUSTRALIAN:
Page 1: Craig Emerson has declared the Gillard government will not bow to the Greens on trade policy and will fight European threats to erect trade barriers around countries not imposing carbon pricing, dismissing them as ''old protectionism''.
Federal government agencies ducked the tender process to buy nearly half the $45.5 billion in goods and services contracted out last year.
India swept aside weeks of humiliating revelations over its chaotic Commonwealth Games preparations last night with a spectacular opening ceremony staged under an unprecedented city-wide security lockdown.
Page 2: Trade Minister Craig Emerson has declared the Gillard government will not give in to environmental blackmail or bogus green protectionism -- domestic or foreign -- just because Labor is in an alliance with the Greens.
Trade Minister Craig Emerson has sympathised with US moves to increase pressure on China to allow its currency to appreciate and said the economic giant must allow market forces to apply to its exchange rate.
Page 3: Mounting evidence of accelerating growth among major Asian trading partners is shortening the odds of a rate rise tomorrow, despite mixed signals from recent domestic data.
Health authorities would be alerted instantly to any severe side-effects from vaccination in the first ''real-time'' immunisation database, to be considered by the nation's health ministers next month.
Page 4: Resurgent growth in the taxpayer-funded drug subsidy scheme is posing a renewed challenge for the nation's public finances, with the program's costs expected to exceed $9 billion for the first time in 2010-11.
The federal Finance Department has urged the Labor government to ensure Medibank Private Ltd retains ''corporate discipline'' after it controversially pulled out a $300 million special dividend from the private health insurer.
The Labor government will have pumped more than $1 billion into the coffers of the National Broadband Network before Christmas, amid warnings the total contribution from the public purse is likely to rise.
The Finance Department has called for greater transparency in the funding of public infrastructure and an expanded role for itself in managing cost benefit analyses.
Page 6: Taxpayers face a $1 billion bill for Australia to host the 2018 Commonwealth Games, after the Gold Coast emerged as the frontrunner yesterday.
Page 7: The return to a three-hour time gap between east and west for the next six months will cost businesses in Western Australia millions of dollars in lost productivity.
Virgin Blue's web and kiosk check-in services will be suspended between tomorrow and Thursday while the company fixes its computer problems.
Business: Some of Australia's largest public companies are planning to bolster boardroom salaries this year, after several years of restraint driven by the global financial crisis.
China's challenge to BHP Billiton's $US40 billion ($41.1bn) takeover of one of the world's largest fertiliser makers is crumbling, with City sources saying it is struggling to mount a counterbid.
The capital position of uranium miner Paladin Energy has come under attention after an impressive reserve upgrade at its flagship project and with the maturing of a tranche of convertible bonds next year.
Foster's wine division has cemented its place at the top of Australia's fine wine market, after wine auction house Langton's revised its index of the country's top-performing tipples.
