Labor tightens mining tax rules – The Fin; Battle to power up the Pilbara – The Fin; Rinehart's $1.22b Galilee sale sets up $10b project – The West; Fuel exemption 'inferior option' to appease voters – The Aus; Woodside 'listening' on Browse LNG – The Fin
Labor tightens mining tax rules
Federal Labor is preparing to modify its proposed mining tax to “fireproof” it against the risk that revenue is eroded through tax avoidance and minimisation by mining companies. The Fin
Battle to power up the Pilbara
An $8 billion race is shaping up among electricity generators to set up a massive regional power grid to feed energy hungry miners in Western Australia's Pilbara over the next decade. The Fin
Rinehart's $1.22b Galilee sale sets up $10b project
Gina Rinehart is set to add to her fortune by banking $US1.26 billion ($1.22 billion) from the sale of her flagship Queensland coal projects to Indian giant GVK. The West
Fuel exemption 'inferior option' to appease voters
Raising the price of petrol rather than imposing mandatory emissions standards for light vehicles would have been the best option for cutting carbon pollution from cars, according to internal advice to the federal government that was never released. The Aus
Woodside 'listening' on Browse LNG
Doubts have emerged about the commitment of Woodside Petroleum's new chief executive, Peter Coleman, to pursue the controversial Kimberley processing option for the Browse liquefied natural gas project as favoured by his predecessor, Don Voelte. The Fin
THE WEST AUSTRALIAN:
Page 1: More West Australians are struggling with price rises imposed by the state government, with figures showing a blowout in the number of people unable to afford basic household charges.
Page 3: A charity that supports deaf and blind West Australians lost $1.5 million in the global financial crisis and is now suing its former financial adviser.
Page 9: Julia Gillard is prepared to be flexible when she meets Tony Abbott today and seeks his support for changes to the Migration Act to allow her Malaysia plan for asylum seekers to proceed.
Page 12: The opposition will press the government to dump its carbon tax advertisements as new modelling is expected to show the tax will cost less than its opponents claim.
Page 16: The Gillard government has unveiled plans to crack down on companies that deliberately avoid their mining tax bills as it faces more pressure from the Greens to ditch is planned company tax cut.
Page 19: A prominent real estate agent says senior consultants are walking away from up to a third of clients because stubborn homeowners are chasing unrealistic boom-time prices.
Business: Gina Rinehart is set to add to her fortune by banking $US1.26 billion ($1.22 billion) from the sale of her flagship Queensland coal projects to Indian giant GVK.
Diplomatic tensions between Europe and the US have heightened after the US Treasury Secretary, Timothy Geithner, attended a meeting of eurozone finance ministers at the weekend, having urged them to “act quickly and decisively” and increase the size of a E440 billion ($586 billion)
Wednesday is D-Day for Kagara managing director Geoff Day as he fronts a crowd of 60 or so investors and analysts to spell out his vision for turning the $423 million Perth base metals miner into a big-ticket Australian mining house.
Canadian fitness outfitter lulu-lemon athetica has pushed the button on an accelerated rollout of its popular brand in Australia.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: Federal Labor is preparing to modify its proposed mining tax to “fireproof” it against the risk that revenue is eroded through tax avoidance and minimisation by mining companies.
An $8 billion race is shaping up among electricity generators to set up a massive regional power grid to feed energy hungry miners in Western Australia's Pilbara over the next decade.
The federal government is set for a bruising week in which internal divisions are likely to grow as Labor struggles to salvage its credibility on border protection, weathers the carbon tax debate and faces intensifying questions over Prime Minister Julia Gillard's judgement.
Page 3: Australians are confused about the carbon tax, unaware that “peak oil” production passed five years ago and unwilling to spurn their love affair with the car to pay for more sustainable transport options, a national paper on barriers to reform has found.
Page 6: The ACTU has launched a political campaign to bolster support for the Gillard government's push to raise employer superannuation contributions from 9 per cent to 12 per cent over a decade.
Page 7: The Gillard cabinet is expected to meet today to discuss a forced return to onshore-only asylum seeker processing, with its efforts to revive the Malaysia refugee swap deal facing impending defeat.
Page 8: Updated modelling of the impact of the federal government's carbon tax legislation is expected to confirm that economic growth will not be hit by the impost.
Page 15: Mining heiress Gina Rinehart has locked in a record deal with Indian power and infrastructure major GVK Group that should lead to $US10 billion ($9.64 billion) of investment to develop her Hancock Coal assets in Queensland's Galillee Basin.
Ivanhoe Mines' decision to participate in a $180 million capital raising by Ivanhoe Australia is “absolutely the strongest indication: the parent wants to stay involved in its Australian subsidiary, says Ivanhoe Australia chief executive Peter Reeve.
Page 16: Doubts have emerged about the commitment of Woodside Petroleum's new chief executive, Peter Coleman, to pursue the controversial Kimberley processing option for the Browse liquefied natural gas project as favoured by his predecessor, Don Voelte.
Page 49: Perth is facing an apartment glut as developers struggle to shift stock in the subdued housing market.
THE AUSTRALIAN:
Page 1: The Coalition will today sink Julia Gillard’s plan to send asylum-seekers to Malaysia and has vowed it will purge all elements of Labor’s mining and carbon taxes when it wins the next election.
Wayne Swan will be asked to increase the GST rate, introduce a congestion tax and limit negative gearing at his planned tax forum next month.
Page 2: Raising the price of petrol rather than imposing mandatory emissions standards for light vehicles would have been the best option for cutting carbon pollution from cars, according to internal advice to the federal government that was never released.
Nine out of 10 jobs in the manufacturing sector are in firms that will face the full impact of the carbon tax, a coalition of industry groups has warned.
Page 3: Australia should capitalise on its attractiveness to migrants by auctioning off permanent migration places.
Page 4: Pelting late rains have given Perth’s parched dams a miracle reprieve from a looming water shortage in the west.
Page 6: Household debt is crippling economic growth, soaring last year almost a third above the safe threshold for long-term expansion and stability.
One of the world’s biggest food companies, Cargill, has lambasted Australia’s foreign investment regulation as slow and opaque, warning that it creates uncertainty for foreign investors and undermines public confidence in the process.
Page 8: Consumer confidence, steady interest rates and a property glut have combined to create a buyers’ market, with $340 million worth of homes sold at auction in major cities over the weekend.
Business: Australian are increasingly looking to previously shunned investment products like corporate and government bonds — so-called fixed-income securities — as they try to find a safe harbour from extreme stockmarket swings.
Labor is being urged to make deeper cuts to the corporate tax rate to ensure Australia remains internationally competitive, and to reduce personal tax rates to encourage more saving.
The alleged rogue trader at UBS placed financial bets worth $US10 billion ($9.64bn) before his losses were detected by the bank, according to insiders.
Psychology, architecture and ergonomics have become the latest weapons in the battle for airline passengers, as Qantas and Virgin Australia introduce striking new interiors aimed at making people happier about being on smaller planes.
Myer chief executive Bernie Brookes says the upmarket department store’s online sales are tripling each week and could soon be 5 per cent of its revenue, despite persistent competition from overseas internet retailers.
After one of the ugliest retail downturns in two decades, corporate doctors are warning that more retailers will hit the wall in the next 12 months.
The major Australian banks have been warned that aggressive international expansion plans could backfire, with cheap acquisition opportunities becoming rare.
After protracted delays, mining giant Rio Tinto and its Malaysian partner are inching towards an agreement on the price they will pay for electricity to power their $US2 billion ($1.9bn) aluminium smelter in East Malaysia.
THE SYDNEY MORNING HERALD:
Page 1: Almost 10 per cent of senior officials at the federal Department of Agriculture, Fisheries and Forestry were investigated last year for fraud.
Page 2: Prime Minister Julia Gillard is prepared to be flexible when she meets Opposition Leader Tony Abbott as she seeks his support to change the Migration Act.
Page 3: Firearms are being returned by police in a majority of domestic violence cases where one of the parties has a gun licence.
World: US President Barack Obama will call for a minimum tax rate for millionaires.
Business: US Treasury Secretary Timothy Geithner's attendance at a meeting of eurozone finance ministers has stirred diplomatic tensions.
Sport: Brisbane players have rejected St George Illawarra coach Wayne Bennett's assertion the Broncos cannot win the premiership without Darren Lockyer.
THE DAILY TELEGRAPH:
Page 1: Older workers are abandoning retirement because of tough economic conditions.
Page 2: The Nationals are frantically trying to find a suitable candidate for the north coast seat of Clarence after the shock resignation of Steve Cansdell, who admitted to lying about a speeding fine.
Page 3: Australian diggers are having trouble with American-made camouflage pants, which are falling to pieces.
World: The pilot of a post-World War II plane has died after crashing and burning during an air show - just 24 hours after a similar tragedy.
Business: Generation X is in danger of becoming generation debt.
Sport: Brisbane Broncos champion Darren Lockyer has declared from his hospital bed he will play against Manly on Friday, despite having three titanium plates inserted into his face.
THE AGE:
Page 1: Victoria's workplace safety authority WorkSafe has been accused of fostering a culture of bullying and fear. Parents are being warned to monitor babies wrapped in slings.
Page 3: Support for a mining tax is growing, with 52 per cent of people in favour of it, a Per Capita survey says. Red wine has come under fire, as health experts warn every drink can do damage.
Page 5: Funding for former state wards has run out, with the state government refusing to bail out a program that paid health expenses.
World: US President Barack Obama is to call for a new minimum tax rate for individuals who earn more than $1 million a year.
Business: Gina Rinehart has sold her majority stake in Queensland's Galilee Basin to Indian giant GVK for $1.2 billion.
Sport: Pies star Alan Didak is under pressure to hold his spot for Friday's clash against Hawthorn.
THE COURIER MAIL:
Page 1: Darren Lockyer has text messaged fans from his hospital bed, declaring he will lead the Broncos' charge to the NRL grand final, despite his fractured cheekbone.
Page 2: Flood-ravaged Grantham will be the first community in southeast Queensland connected to the NBN.
Page 3: A state government shake-up would expand the Easter holidays to two weeks.
World: There have been bloody street-by-street battles during an assault on Muammar Gaddafi's home town of Sirte.
Business: Business is looking good for Super Amart, Queensland's largest discount bedding and furniture retailer.
Sport: Manly coach Des Hasler warns wounded Broncos skipper Darren Lockyer there will be nowhere to hide on Friday night.
