Today's Business Headlines

Monday, 24 October, 2011 - 06:47

Rudd pushes African mining

Foreign Minister Kevin Rudd will use the Commonwealth Business Forum in Perth tomorrow to launch a $30 million initiative to foster mining development in Africa. The Fin

Alcoa waits on Wagerup

Alcoais yet to hear from the WA government whether it has been granted a five-year approvals relief for the much-hyped $2.2 billion expansion of its Wagerup alumina refinery south of Perth. The West

Union revival spurs crisis

Australian companies are battling a crisis in the workplace because of the re-emergence of union power in industrial relations and the prolonged high exchange rate, one of the nation’s most senior non-executive directors has warned. The Aus

Health fund muscles in for WA boom

WA's private health insurance market faces a major shake-up as a new player pushes into an area traditionally dominated by HBF. The West

Fears latest fatality could hit tourism

WA's third fatal shark attack in seven weeks had the potential to scare off tourists, industry figures and politicians said yesterday. The West

 

THE WEST AUSTRALIAN:

Page 3: Fire services chief Wayne Gregson has flagged big changes in the way bushfires are fought in WA, including more training for firefighters, saying he was “gobsmacked” at some of the inadequacies within the Fire and Emergency Services Authority.

Page 4: WA's third fatal shark attack in seven weeks had the potential to scare off tourists, industry figures and politicians said yesterday.

Page 6: WA has become the Black Caviar of the Australian economy, strengthening its grip on the mantle as the nation's strongest economic performer.

Page 14: WA's private health insurance market faces a major shake-up as a new player pushes into an area traditionally dominated by HBF.

Page 15: Property values may have fallen but Perth still has the most expensive land in Australia and house prices are predicted to start rising again within months.

Page 16: A parliamentary inquiry has been told of a significant backlog in road maintenance in WA, including 4,000km of roads that are overdue for resurfacing.

Page 17: Perth Lord Mayor Lisa Scaffidi will be among council leaders almost certain to get a pay rise under new laws that would mean the independent Salaries and Allowances Tribunal sets elected members' fees and allowances.

Business: Alcoa is yet to hear from the WA government whether it has been granted a five-year approvals relief for the much-hyped $2.2 billion expansion of its Wagerup alumina refinery south of Perth.

European leaders last night opened an EU summit aimed at solving the eurozone debt crisis and convincing global rivals that recession can be kept at bay.

Jupiter Mines' decision last week to use some of its cash to buy back shares has seen the Brian Gilbertson-controlled iron ore and manganese player join a fast-growing list of WA miners trying to revive their ailing share prices.

 

THE AUSTRALIAN FINANCIAL REVIEW:

Page 1: Qantas Airways' bid to establish a premium subsidiary airline in Asia has received clearance from Singapore's Economic Development Board.

Foreign Minister Kevin Rudd will use the Commonwealth Business Forum in Perth tomorrow to launch a $30 million initiative to foster mining development in Africa.

The Gillard government is counting on big cuts to the public service wages bill to help it deliver a budget surplus in fiscal 2013 as it confronts union pay demands that would exceed inflation.

Page 3: The probability of an interest rate cut before year-end will become clearer this week after key prices data is released and the deputy of the Reserve Bank gives a speech that could indicate its intentions.

Page 4: Parts of the $35.9 billion national broadband network would still be built should a Coalition government take office as it would be too hard to stop the work.

Page 6: West Australian Premier Colin Barnett says he will host private meetings between visiting Commonwealth leaders and the state's mining industry in the coming week.

 

THE AUSTRALIAN:

Page 1: A popular revolt against Julia Gillard’s carbon tax has produced a calamitous drop in support for the two key NSW rural independents underpinning her minority government.

The union movement is stepping up pressure on the Gillard government to devise a new jobs policy before the next federal election, by setting up a national inquiry with public hearings into the growth in insecure work.

Page 3: The first kill order ever issued against a shark in Western Australia sparked an unsuccessful 24-hour hunt for the animal that mauled an American man in the third suspected fatal attack in WA in less than two months.

Page 4: The choice of Perth to host the Commonwealth Heads of Government Meeting this week will showcase one of the world’s leading resource-based economies and lead to business deals worth $10 billion, according to organisers.

Trucking billionaire Lindsay Fox has warned that the nation’s eastern seaboard is becoming a ‘‘rustbucket’’, and that urgent action is required to stem the decline of manufacturing.

Page 6: Rapid growth in resource-related projects will significantly boost engineering construction in the next two years but a survey has shown much slower growth in commercial sector building.

The Transport Workers Union has called off its nationwide industrial action scheduled for tomorrow and Wednesday, Qantas says.

Business: Australian companies are battling a crisis in the workplace because of the re-emergence of union power in industrial relations and the prolonged high exchange rate, one of the nation’s most senior non-executive directors has warned.

Europe was edging towards a resolution of the Greek sovereign debt crisis late last night ahead of a crucial summit meeting.

The push to quickly ramp up iron ore production in Western Australia’s vast Pilbara region is very much a race between the nation’s three big iron ore miners — Rio Tinto, BHP Billiton and Fortescue Metals Group.

Shareholders of Australia’s second-largest listed property company, Stockland, are expected to grill the board over remuneration policies at tomorrow’s annual general meeting in Sydney.

Asia and Australia are likely to survive double-dip recession in Europe and the US — but no one will be spared if China slows significantly.

Australia's miners continue to reject calls for reforms to mandate local content requirements, arguing that the sector already supports domestic manufacturing at a high rate.

Australia's junior explorers are leading the charge into new frontiers in Africa with increased interest tipped as the smaller end of the booming sector expands into under-explored areas in the hope of finding a company changing asset.

The introduction of new taxes and concerns about the global economic outlook will not slow mining investment in Australia, forecast to reach $80 billion a year by 2015, according to a report.

 

THE SYDNEY MORNING HERALD:

Page 1: Australia is now a three-speed economy, with NSW ranked in the slowest lane of growth.

Page 2: An Indian student who paid thousands of dollars to study in Australia was illegally detained at the Villawood detention centre for 18 months because of mistakes by immigration officers, the Australian Human Rights Commissioner has found.

Page 3: The federal government has signalled it may need to intervene in the gas market to ensure uninterrupted domestic supplies, amid a boom in overseas demand for Australian gas.

World: Libya's new leaders were to declare liberation on Sunday in a move that would start the clock for elections after months of bloodshed that culminated in the death of the long-time dictator Muammar Gaddafi.

Business: Europe's leaders are threatening to trigger a formal default on Greek debt and risk a "credit event" if banks refuse to accept losses of up to 140 billion euros ($A187 billion) on their holdings.

Sport: The All Blacks have won the World Cup after 24 years.

 

THE DAILY TELEGRAPH:

Page 1: Charities will be made to become more transparent amid revelations some spend more than 60 per cent of donations on administration and campaigns to raise funds.

Page 2: The Australian schoolboy held in Bali on drugs charges has been upgraded to a "cheap motel room".

Page 3: The federal government was battling to defend its bungled Malaysia Solution after three more boatloads of asylum seekers pushed the numbers of refugee arrivals beyond the deal's 800-person limit.

World: After decades of tyranny, Libya's leaders were expected to declare liberation on Sunday night.

Business: The Australian sharemarket is expected to open one per cent higher on Monday.

Sport: Jockey Craig Williams fears his chances of completing an unprecedented clean sweep of the majors could be dashed by a record number of foreign raiders expected to contest the $6 million Melbourne Cup.

 

THE AGE:

Page 1: Queen and Bart Cummings share a talk on racing when the Cups King met royalty. Indian student held illegally for 509 days in detention sues for damages. Access to cancer treatment a lottery after funding cut to those with different types of cancer.

Page 2: Company which settled law suit for thalidomide victims in generous payout says it is disappointed to be sued again. Name of anti-tobacco litigant Rolah McCabe will live on with new cancer centre.

Page 3: Government buyback scheme for bushfire-hit properties means the land will never again be able to be lived on. Premier Ted Baillieu urges protesters against Queen's visit to act peacefully. Government cracks down on puppy farms. Sighting of the regent honeyeater is hopefully a sign the critically endangered bird is on the comeback trail.

World: The world will watch how the new Libya treats its POWs.

Business: Super funds shy from investing in nation-building infrastructure because of dearth of projects and lack of confidence.

Sport: All Blacks win World Cup - but only just.

 

THE HERALD SUN:

Page 1: Almost 1000 children found to be neglected by their parents in just one year.

Page 3: Queen meets Cups King Bart Cummings. Demons forward dropped from International Rules team after fleeing from car crash scene.

World: Fifteen-year-old boy admits to murdering two female drug dealers on Mexican resort island.

Business: Super Retail Group boss Peter Birtles has big plans for Rebel Group.

Sport: Lee Freedman blames our need for speed for just one home grown horse in the Melbourne Cup.

THE COURIER MAIL:

Page 1: A new website will disclose how much charities spend on marketing and administration costs compared to their income.

Page 3: Resident in a small Queensland town have fallen victim to a scam run by a Gold Coast Solar installation company.

Page 5: The Queen met sport legends, entertainers and philanthropists in Canberra during her tour on Sunday.

World: A French father who tracked down the man who killed his step daughter 30 years ago has had a victory with the court finding the man guilty of her death.

Business: Australia's booming mining industry will reach $80 billion in annual investment by 2015 says a BIS Shrapnel report to be released on Monday.

Sport: New Zealand breaks a 24-year hoodoo to regain the Rugby World Cup.

THE ADELAIDE ADVERTISER:

Page 1: South Australia's flood crisis system is inadequate and needs a significant overhaul, an inquiry sparked by last summer's Victorian and Queensland disasters has found.

Page 1: Charities are spending up to 60 per cent of donations on administrative costs as the Federal government prepares to launch a MySchool-like website for the sector.

Page 3: Federal Water Minister Tony Burke yesterday contacted the Premier Jay Weatherill in an urgent bid to avert the derailing of the campaign to save the River Murray.

World: Libya's new leaders were last night expected to declare liberation - a move that will start the clock for elections after months of bloodshed that culminated in the death of longtime dictator Muammar Gaddafi.

Business: Annual investment in Australia's mining sector will soar 66 per cent to $88.3 billion by 2015 as huge Liquefied Natural Gas projects come on stream in Western Australia and Queensland and Olympic Dam's expansion gets underway, researcher BIS Shrapnel says.

Sport: The honeymoon is definitely over for Adelaide United coach Rini Coolen with the Reds now staring at its worst start to any season.