SABMiller nabs Foster's for $12.3bn – The Fin; Barnett urges defiance of green anti-gas campaign – The Aus; Green light for $25b gas project – The West; Murchison to miss Oakajee deadline – The Aus; Day lays out ambitious growth plan for Kagara – The West
SABMiller nabs Foster's for $12.3bn
Iconic brewer Foster's Group has accepted a sweetened $12.3 billion offer from Anglo South African brewer SABMiller in a scheme of arrangement that will see the Australian company fall into the hands of the world's second-largest beer company. The Fin
Barnett urges defiance of green anti-gas campaign
West Australian Premier Colin Barnett has urged Woodside to defy green boycott threats and push on with its proposal for a gas hub in the Kimberley that would deliver $1.5 billion in benefits to Aborigines. The Aus
Green light for $25b gas project
The $25 billion Wheatstone liquefied natural gas project, which will transform Onslow and create thousands of jobs, is set to be approved, guaranteeing WA's standing as one of the world's biggest producers of the fuel. The West
Murchison to miss Oakajee deadline
Struggling miner Murchison Metals has admitted it will miss a December 31 deadline to proceed with the $5.9 billion Oakajee port and rail project in Western Australia, creating further doubts over whether the long-delayed infrastructure will ever be built. The Aus
Day lays out ambitious growth plan for Kagara
New Kagara managing director Geoff Day has pledged to turn the Perth company into a dominant Australian base metals miner and one of the world's top 20 zinc producers by 2016. The West
THE WEST AUSTRALIAN:
Page 1: Foster's, the maker of some of Australia's best-known beers, is heading into foreign hands after the brewing giant accepted a $12.3 billion takeover bid last night from Anglo-South African company SABMiller.
Page 6: Former Howard government industrial relations minister Peter Reith says Tony Abbott will drive workers back to unions by abandoning long-held Liberal support for statutory individual contracts.
Page 7: Perth motorists are facing more traffic congestion, with new statistics showing some are taking up to 20 per cent longer to get to work than they did a year ago.
Page 11: The $25 billion Wheatstone liquefied natural gas project, which will transform Onslow and create thousands of jobs, is set to be approved, guaranteeing WA's standing as one of the world's biggest producers of the fuel.
Page 13: Australian workers will retire tens of thousands of dollars better off, the Federal Government has claimed unveiling plans to make superannuation simpler and cheaper.
Business: SABMiller has all but ruled out a rival bidder for Foster's Group after last night appearing to clinch the iconic Australian brewer with a $12.3 billion agreed offer.
New Kagara managing director Geoff Day has pledged to turn the Perth company into a dominant Australian base metals miner and one of the world's top 20 zinc producers by 2016.
Murchison Metals' new management has welcomed last week's trade and investment deal with China which is designed to open the door to Chinese involvement in the Oakajee rail and port project.
Outdoor adventure wear retailer Kathmandu rubbed more salt in its retail rivals' wounds yesterday when it declared sales for the first few weeks of 201-12 were tracking in line with the previous year's growth rate – 16 per cent on a same-store basis.
BHP Billiton says long-term demand for commodities from China and a band of other developing economies means the good times for global miners will roll on for some time.
Drilling technology developer Coretrack is moving to commercialise its sample recording device following a successful test on the North West Shelf.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: Iconic brewer Foster's Group has accepted a sweetened $12.3 billion offer from Anglo South African brewer SABMiller in a scheme of arrangement that will see the Australian company fall into the hands of the world's second-largest beer company.
Superannuation schemers will be required to offer a low-cost, simplified MySuper default fund by 2013 to retain all their members as part of the most significant overhaul of the retirement savings industry since the introduction of compulsory contributions in the early 1990s.
Central Queensland cattle graziers John and Jan Burnett are virtually all that stands between Gina Rinehart and her dream of building a coal-mining empire.
Business has conceded it cannot expect political support for revising individual contracts and will expect political support for reviving individual contracts and will instead press for more flexibility within existing workplace laws.
Page 3: The youngest daughter of Australia's richest person, Gina Rinehart, has joined her mother in trying to keep a family dispute away from the courts.
Page 4: Treasurer Wayne Swan has raised the tax treatment of losses and deductions for corporate equity as two areas of business tax reform to be discussed at next month's Tax Forum, along with state tax reform, as the government looks to help ease business pressures in the patchwork economy.
Page 8: Treasurer Wayne Swan has acknowledged that a weaker world economy means it will be far harder for the government to meet its commitment to bring the budget into surplus by 2012-13.
Page 9: The federal government's top climate change advisers yesterday defended the conclusion underpinning their economic modelling of a global carbon price by 2015 and said industry analysis of the carbon scheme was misleading.
Page 10: Qantas engineers will escalate industrial action from Friday that will cause a maintenance backlog in coming weeks.
The Maritime Union has lost a bid to stop what it claims are workers on temporary tourist visas being used by piping contractors to cut costs on Chevron's giant $43 billion Gorgon gas project in Western Australia.
Page 19: Murchison Metals' new management team has dumped plans to create a profit-based rail and port system in Western Australia's mid-west and is looking for equity participation from miners in the region instead.
BHP Billiton has warned that a slow-down in China could hinder the company's growth after sales to the country grew to 28 per cent of total revenue from 25 per cent in 2010.
Page 21: Seven West Media's television division will expand its already large collection of local programs in 2012 as part of a strategy to maintain the lead it has established over its rivals this year.
THE AUSTRALIAN:
Page 1: Tony Abbott’s refusal to rescue Julia Gillard’s border security policy has sparked new speculation about her grip on the Labor leadership, amid growing nervousness on the backbench.
Employers have attacked Tony Abbott’s decision to oppose the reinstatement of individual contracts, accusing the Coalition of ‘‘putting its head in the sand’’ and ignoring major problems with the federal workplace laws.
Page 2: West Australian Premier Colin Barnett has urged Woodside to defy green boycott threats and push on with its proposal for a gas hub in the Kimberley that would deliver $1.5 billion in benefits to Aborigines.
The Barnett government has been accused of cruelty for providing only 30 extra beds for the homeless during the Commonwealth Heads of Government Meeting in Perth next month.
Page 4: Julia Gillard has set up more than one new government review a week since assuming power, challenging Kevin Rudd’s title as king of the committee.
Page 6: The Reserve Bank’s deputy governor Ric Battellino has dashed hopes for interest rate cuts, saying markets are mistaken in their belief that Australia’s economy will be dragged down by the US.
Car manufacturing and component making in Australia will fall 39 per cent by 2020 and the textiles, clothing and footwear sector will decline 34 per cent, according to Treasury modelling released yesterday.
A fast-tracked government agency to help employers recruit and train workers and a push to raise apprenticeship pay rates are part of the Gillard government’s latest efforts to alleviate the nation’s skills shortage.
The opposition has accused the Gillard government of holding contradictory domestic and international positions on whether major emitters such as the US and China would sign up to global emissions reductions agreements.
Business: Brewing giant Foster’s, maker of VB, Carlton Draught and Cascade, will be in foreign hands by Christmas after last night agreeing to a $12.3 billion takeover bid from UK-based SABMiller, following months of urging shareholders to reject the company’s advances.
Struggling miner Murchison Metals has admitted it will miss a December 31 deadline to proceed with the $5.9 billion Oakajee port and rail project in Western Australia, creating further doubts over whether the long-delayed infrastructure will ever be built.
Commonwealth Bank chief financial officer David Craig is confident it and Australia are in better shape to deal with the European sovereign debt crisis than they were before the global financial crisis three years ago.
Rio Tinto says $US10 billion-plus acquisitions are back on the table — provided its credit rating is not put at risk — as the mining giant hunts for bargains amid turmoil in financial markets.
One of Australia’s leading economists has forecast that a lack of skilled workers and more offshore construction of resources infrastructure will dramatically lessen the expected benefits of the mining boom.
THE SYDNEY MORNING HERALD:
Page 1: NSW hospitals are struggling with deadly infection-causing superbugs.
Page 2: East Timorese President Jose Ramos Horta thinks his country's parliament is corrupt and regards Prime Minister Xanana Gusmao as an alcoholic, WikiLeaks cables say.
Page 3: Embattled Health Services Union president Michael Williamson has called an emergency meeting of the union's council without saying why.
World: The Obama administration is assembling secret drone bases in the Horn of Africa and the Arabian Peninsula to attack al-Qaeda affiliates in Somalia and Yemen.
Business: Australia's biggest brewer Foster's has accepted a sweetened $12.3 billion takeover offer from Anglo-South African giant SABMiller.
Sport: Matt Gillett is the man most likely to take over from Brisbane Broncos captain Darren Lockyer.
THE DAILY TELEGRAPH:
Page 1: Prime Minister Julia Gillard has told Foreign Minister Kevin Rudd to rein in his jet-setting ways.
Page 2: Supermarket giants Coles and Woolworths will now do battle over legs of lamb.
Page 3: The sister of convicted Sydney double murderer Bruce Burrell has been told she won't be punished for hanging on to a gun her brother owned.
World: An assassin with a bomb in his turban killed former Afghan president Burhanuddin Rabbani.
Business: Brewing giant Foster's has dramatically agreed to a bid from UK-based SABMiller at just $5.10 a share.
Sport: Brisbane Broncos captain Darren Lockyer vowed to make an heroic return for next weekend's NRL grand final without getting too excited.
THE AGE:
Page 1: Melbourne's city loop emergency system requires urgent attention, a report by infrastructure contractor Thiess says.
Foster's is to be sold to UK-based brewing giant SABMiller. The Taliban are claiming responsibility for the assassination of former Afghan president Burhanuddin Rabbani, and are warning more senior political figures will be targeted.
Page 3: Details around the federal government's new low-cost superannuation product designed to reduce waste have been unveiled. A Victorian Liberal staff has sent an email to the media promoting a bomb hoax on the federal parliament.
Page 5: The state government's buyback of flood-affected properties has been slammed.
World: US President Barack Obama set to revive Middle East peace talks between Palestine and Israel.
Business: Australia's oldest brewer Foster's has accepted a revised offer from brewing giant SABMiller.
Sport: Former Cats star Gary Ablett is naturally backing his beloved team for the 2011 flag.
THE COURIER MAIL:
Page 1: An anomaly of the two-speed economy is a basic three bedroom house in the mining town of Moranbah costs the same to rent as a lavish waterfront on on the Gold Coast.
Page 2: Prime Minister Julia Gillard asks Foreign Minister Kevin Rudd to rein in his travel costs.
Page 3: Fallen Brisbane IT mogul Daniel Tzvetkoff was heavily involved in a ponzi scheme that ripped off $400 million from online gamblers.
Page 7: Mental health experts want more funding to study severe conditions such as schizophrenia.
World: Libya's new flag is flying above the United Nations building in New York.
Business: Foster's has agreed to a $9.9 billion takeover by SABMiller.
Sport: The Broncos are pinning their hopes of five-eighth Matt Gillett to replace wounded skipper Darren Lockyer who will not play against Manly on Friday night because of a fractured cheekbone.
THE CANBERRA TIMES:
Page 1: Australian National University bid to increase non-government income. ACT police push for aerial surveillance of vehicles with cameras. Customers were unaware bank robber told tellers he had bomb and gun.
Page 2: New modelling predicts higher tax will achieve greater cuts in carbon emissions.
Page 3: Senior defence officials opposed the immigration department's bid to use a remote RAAF base as a detention centre.
World: Hundreds of Afghans protest against the assassination of the chairman of the government's peace council, Burhanuddin Rabbani.
Business: David Jones working on a five-year plan to revive sales, while acknowledging the upmarket retailer will have a weaker festive season.
Sport: Scrum-half Will Genia says the Wallabies can still win rugby world cup despite a tougher path to the final following the side's loss to Ireland last weekend.
