Today's Business Headlines

G20 pushes fast fix for euro crisis

The world's top finance ministers and central bankers have increased pressure on Europe to resolve its debt crisis with the lure of broader international support for swift action. The Fin

Coalition toughens carbon warning

The federal opposition ramped up the pressure yesterday on Australian companies to avoid investing in overseas and future carbon credits, warning they will not be compensated if they do. The Fin

Call for Pilbara power grid

The WA government has not ruled out an integrated electricity grid in the Pilbara to keep up with surging demand but says the private sector is best placed to pick up the bill. The West

Foreign giant's threat to WA energy

The energy company that controls half of Western Australia's coal supplies, Indian giant Lanco Infratech, has saved its toughest price demands for power stations that supply 10 per cent of the state's power, according to documents lodged in the Federal Court in Perth. The Fin

Winning mayors will team up

Lisa Scaffidi and Alannah MacTiernan have pledged a greater level of cooperation between their councils as they seek to develop key entertainment and leisure precincts within their municipalities. The West

 

 

THE WEST AUSTRALIAN:

Page 3: Labor's primary vote has increased and Julia Gillard has cut Tony Abbott's lead as preferred prime minister, but the government would be swept away in an election now by a two-party 57 to 43 per cent landslide.

Page 5: The cost of managing the surge of asylum seekers to Australian shores has blown out the Immigration Department's budget by more than $1 billion as the government struggles to manage the huge numbers of boat people in detention.

Page 8: Lisa Scaffidi and Alannah MacTiernan have pledged a greater level of cooperation between their councils as they seek to develop key entertainment and leisure precincts within their municipalities.

Page 12: Unions WA claims the benefits of the mining boom are not filtering through the community, with a major survey showing most people believe the standard of government services is falling amid inadequate investment.

Page 14: Qantas is expected to ground jumbo jets and cut back international flights this week as its row with unions deepens.

Page 15: Fresh seafood prices will soar and supplies could be threatened under changes to the federal government's proposed South West marine park plans, fishing groups have warned.

Business: The WA government has not ruled out an integrated electricity grid in the Pilbara to keep up with surging demand but says the private sector is best placed to pick up the bill.

France's Accor, one of the world's biggest hotel groups, has outlined plans to open more than 200 new properties across Asia within three years as it looks to cash in on the region's increasing affluence.

BHP Billiton could buy anything that moves, if overseas reports on acquisition targets for the world's biggest miner are to be believed.

A surprise recovery in US retail sales and growing optimism that Europe may have awarded a worst-case scenario in its debt crisis is expected to deliver a positive boost to Australian stocks when trading opens this morning.

The world's biggest lithium miner, Talison Lithium, has chosen WA for the site of a new lithium carbonate plant.

 

THE AUSTRALIAN FINANCIAL REVIEW:

Page 1: The world's top finance ministers and central bankers have increased pressure on Europe to resolve its debt crisis with the lure of broader international support for swift action.

The federal opposition ramped up the pressure yesterday on Australian companies to avoid investing in overseas and future carbon credits, warning they will not be compensated if they do.

Woolworths is set to become the first major non-financial company to raise capital through a domestic hybrid securities issue this year in another sign that investors are turning their backs on the volatility on equity markets.

Page 3: A major infrastructure investor has thrown its support behind a campaign to put more superannuation into nation-building projects to make up for a shortfall in federal funding.

Page 5: The ongoing dispute between Qantas and its pilots and engineers will force another 15,000 passengers to make alternative travel plans this week, and chief executive Alan Joyce warned a speedy resolution was not expected.

Page 9: The energy company that controls half of Western Australia's coal supplies, Indian giant Lanco Infratech, has saved its toughest price demands for power stations that supply 10 per cent of the state's power, according to documents lodged in the Federal Court in Perth.

Page 14: Telstra's board will submit its $11 billion deal with the Gillard government to a second shareholder vote if it is forced by the watchdog to give more than $200 million of additional value away to the rest of the industry.

Hanlong Mining and Sundance Resources representatives leave for Africa today with the goal of securing the government approvals critical to their $1.7 billion takeover deal.

Page 15: Uranium industry players are closely watching how BHP Billiton will manage the supply of the resource from its planned expansion of the Olympic Dam mine, well aware that the extra volumes could destabilise the already shaky market.

Page 16: Evolution Mining executive chairman Jake Klein views the newly formed relationship with Australia's largest gold producer, Newcrest Mining, as a major competitive advantage that is likely to speed the newcomer's growth.

 

THE AUSTRALIAN:

Page 1: Trade Minister Craig Emerson has declared the Doha Round of global talks has hit a dead end, and says Australia will lead a breakaway free trade push sidelining the nations that cling to protectionism.

Wayne Swan has led an attack on European tardiness in tackling its debt crisis while backing moves to give the International Monetary Fund more resources to manage sovereign bailouts.

Page 2: The two most populous states have demanded the federal government overhaul the nation’s industrial relations framework to increase productivity and clean up union inefficiencies.

A double-dip recession in the global economy would risk pushing the unemployment rate in Australia above 6 per cent — even if we again avoided recession.

Australia’s biggest beef producer wants the federal government to restrict investment by foreign countries in ports, silos and sugar mills.

Europe's leaders are about to make another attempt to contain the growing crisis of confidence in the ability of the continent’s weakest economies to repay their debts.

Page 3: The government company rolling out Labor’s National Broadband Network is paying Australian companies as little as 23c of every $1 it spends on tenders for the project, prompting warnings that the government is failing to support local industry.

Banks are betting on an interest rate cut on Melbourne Cup day, luring borrowers with interestfree credit cards and the cheapest mortgage deals in three years.

Page 6: The increasingly bitter Qantas industrial dispute has prompted the aviation watchdog to warn the airline and unions that it will intervene if safety is compromised during the conflict.

Business: Telstra chief David Thodey has raised the prospect of a major capital return if the telco’s 1.4 million holders tomorrow vote in favour of the historic $11 billion proposal to cede its fixed-wire business to the National Broadband Network.

European policymakers have set a one-week deadline to deliver a long-awaited solution to the sovereign debt crisis, giving investors hope that a rescue strategy will be reached.

Two days after being touted as a possible $6 billion bidder for US coal producer Walter Energy, BHP Billiton is now being tipped in London as a possible buyer of Brazilian iron ore hopeful Ferrous Resources.

Qantas has lost a third-party engineering contract following continued industrial action, and chief executive Alan Joyce warned yesterday the airline could lose more business if engineers continued with strike action.

European policymakers have set a one-week deadline to deliver a long-awaited solution to the sovereign debt crisis, giving investors hope that a rescue strategy will be reached.

Profitability tends to suffer when chief executives get paid significantly more than their senior executive cohort, new research shows.

Australia's economy is enjoying an Indian summer as households shop, mining companies invest and even manufacturers manage to squeeze some growth out of exporting.

 

THE SYDNEY MORNING HERALD:

Page 1: The Gillard government has enjoyed a boost in support despite the chaos of last week, but it would still be trounced should an election be held today.

Page 2: Mining towns are suffering the dark side of the resources boom as rents soar and high-paid jobs go to outsiders, a leading welfare expert says.

Page 3: Children at public schools serving poor communities are three to five years behind their peers at schools in wealthy suburbs, an analysis of NAPLAN test results has found.

World: Protests against corporate greed, government incompetence and growing inequality have gone global, with demonstrations in 950 cities across more than 80 countries intensifying pressure on world leaders to produce a decisive plan to rescue the eurozone.

Business: Australian employees are among the hardest-working in the developed world, notching an average 44-hour week, but rank among the least productive, with $109 billion of "wasted" wages each year.

Sport: New Zealand's relentless pressure and masterful forwards overwhelmed Australia in a brutal 20-6 semi-final win at Eden Park.

 

THE DAILY TELEGRAPH:

Page 1: Julia Gillard's carbon tax remains unpalatable and Tony Abbott would win in a landslide if an election were held, a Galaxy poll has found.

Page 3: Thousands of drivers are being fined for speeding just a few kilometres over the speed limit, smashing a myth that a margin of error is allowed on NSW roads.

World: Thousands around the world took part in Occupy Day, a protest against corporate greed.

Sport: Darren Lockyer has saluted the crowd after his last game on Australian soil, Australia's win over New Zealand at Ausgrid Stadium in Newcastle.

 

THE AGE:

Page 1: Claims that Sri Lanka's ambassador to Australia is a war criminal. All Blacks set to break World Cup hoodoo after bouncing Australia out in World Cup semi-final.

Labor's primary vote lifts but Labor would still be swept away in an election. Drugs that can slow the ageing process could be available in five to 10 years.

Page 2: Australia takes Russia to task over cheque-book diplomacy in the Pacific. Qantas chief vows to send more aircraft offshore for servicing as industrial disputes continue.

Crown gains more smoking in high roller areas of casino despite Baillieu election promise to review the casino's special treatment.

Page 3: Study shows a "white flight" from selective schools as ethnic segregation strengthens. Sprinklers will be able to be used in "wetter years" under new water restrictions recommended by the state's retailers.

Mountain pygmy hybrid offspring prove fertile and give new hope to the endangered species. Road safety motto to feature on new plates.

Qantas admits it lost track of unaccompanied 11-year-old boy.

World: Protests against corporate greed put world leaders on notice.

Business: We're among developed world's hardest workers but also among the least productive.

Sport: All Blacks bash and smash their way past the Wallabies to World Cup showdown with France.

 

THE HERALD SUN:

Page 1: The drug dealer who dobbed in Tony Mokbel set to reap $1 million reward.

Page 3: Outlaw bikie gangs alleged to have links with some union workers at Victoria's troubled desalination plant.

World: Rome burns as protesters set fire to a government building, torch cars and smash bank windows.

Business: Qantas troubles sending new passengers to Virgin.

Sport: All Blacks dump Wallabies out of World Cup.

 

THE CANBERRA TIMES:

Page 1: Wallabies beaten up and spat out by ruthless All Blacks in rugby World Cup semi-final. Gillard government in crisis mode over cabinet leaks. Qantas brings contingency staff to Canberra to cover flights affected by strike action.

Page 2: Assaults in pubs and clubs a problem for Canberra.

Page 3: Occupy Sydney protest fizzling out after less than 48 hours.

World: Salvage crews have begun pumping oil from the container ship Rena, which is stranded on a reef off New Zealand's east coast.

Business: The amount of money Australians spend online is expected to swell to about $10 billion over the next five years.

Sport: All Blacks smash Wallabies.

THE COURIER MAIL:

Page 1: Police are set to crackdown on bikie crime using Queensland's new anti-gang laws for the first time.

Page 2: Advertisement

Page 3: Brisbane flyers will bear the brunt of Qantas groundings due to ongoing union industrial action, with 53 flights canned over the next five days.

World: A global day of demonstrations against corporate greed turned violent in New York, Rome, Madrid and Lisbon.

Business: Europe has vowed to its G20 partners that it will take swift and decisive action to resolve a debt crisis that's threatening to drag the world economy back into recession.

Sport: The New Zealand All Blacks are favourites to win the Rugby World Cup after beating Australia to make the final against France.

THE ADELAIDE ADVERTISER:

Page 1: Incoming premier Jay Weatherill is preparing to abandon new hospital car parking fees.

Page 3: Julia Gillard is gaining on Kevin Rudd as the preferred leader, a poll shows.

World: Demonstrators filled Times Square in NY, protesting corporate greed.

Business: Local businesses want Jay Weatherill to give them a bigger slice of major contracts.

Sport: Adelaide will ignore the chance to strike a super deal from an eager Brisbane for key forward Kurt Tippett.