Mining tax hits 11th hour hurdle – The Fin; PM enlists leaders to fix Europe – The Aus; US, Euro fears lop 5.1pc off super – The Aus; Chevron pumped up about Kogas deal – The Fin; Mallesons partners ready for Chinese merger – The West
Mining tax hits 11th hour hurdle
The government is facing a last-minute dispute with the resources sector over its mining tax legislation amid claims Labor's latest draft will increase revenue but impose greater liability on the three big miners. The Fin
PM enlists leaders to fix Europe
Julia Gillard will today appeal for support from Commonwealth nations to heap pressure on Europe to tackle its debt crisis as she seeks to build a consensus for global financial change ahead of next week’s Group of 20 meeting in Cannes. The Aus
US, Euro fears lop 5.1pc off super
Superannuation funds recorded their worst returns since the global financial crisis in the September quarter, with the biggest funds dropping 5.1 per cent in value in just three months thanks to an extended bout of nerves about US debt and European economies. The Aus
Chevron pumped up about Kogas deal
Chevron has voiced confidence about its chances of signing up Korea Gas Corporation as a customer for its $29 billion Wheatstone liquefied natural gas project. The Fin
Mallesons partners ready for Chinese merger
Mallesons Stephen Jaques partners are set to vote on a merger with leading Chinese law firm King & Wood by the end of next month. The West
THE WEST AUSTRALIAN:
Page 1: Dozens of people deemed an extreme security risk to this week's Commonwealth Heads of Government Meeting are being hit with special notices banning from entering key parts of the city.
Page 5: Prime Minister Julia Gillard has urged state premiers to support changes to royal succession rules so that Prince William and Catherine's first-born is not discriminated against if a girl.
Page 6: Julia Gillard will urge European leaders to get their financial houses in order or risk the global economy as evidence grows the Reserve Bank will have room to make an emergency interest rate cut if required.
Page 9: A strike by customs officers could cause embarrassingly long delays at Perth International Airport on Thursday when world leaders are expected to fly in for the Commonwealth Heads of Government Meeting.
Page 10: Two weeks after ruling out shark nets, Premier Colin Barnett said yesterday that the state government would look at installing nets in response to attacks happening at an “unprecedented” frequency.
The spate of fatal shark attacks has taken its toll on tourism in the South West where many are now too scared to go into the ocean.
Europe's financial woes will give Wayne Swan's budget bottom line a boost by driving down borrowing costs and bringing in extra mining tax revenue.
WA's economy is outperforming the rest of the nation but the state has the highest proportion of homeowners under mortgage stress.
Business: Woolworths appears to have been dumped by its Indian partner, Tata Group, bringing an abrupt end to one of the promising growth options for the grocery giant.
Michael Chaney says WA could be on the cusp of becoming “Australia's California” but warns that maintaining sharp growth depends on an “even stronger” Asia.
Mallesons Stephen Jaques partners are set to vote on a merger with leading Chinese law firm King & Wood by the end of next month.
Orica chief executive Grame Liebelt will bring forward his retirement date to accommodate the arrival of former Newcrest boss Ian Smith as the explosives and chemical company's new boss.
Super fund members will have to wait another year or more to recoup the money they lost during the global financial crisis after funds had their worst quarter since December 2008.
Bannerman Resources chief executive Len Jubber is taking heart from the tussle over Canada's Heather Exploration as he hunts for a fresh corporate deal, after months of talks with China's Hanlong Mining failed to produce a proposed $144 million takeover.
Key Petroleum has struck a deal to acquire a portfolio of permits in the Canning Basin, which is gaining attention following big-ticket farm-in deals by ConocoPhillips and Mitsubishi Corp, from Perth junior Empire Oil & Gas.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: The government is facing a last-minute dispute with the resources sector over its mining tax legislation amid claims Labor's latest draft will increase revenue but impose greater liability on the three big miners.
Hundreds of millions of dollars worth of CDOs, exposed to the ailing US housing sector and sold exclusively in Australia, were on the brink of total wipeout yesterday.
Page 3: ACCC chairman Rod Sims has warned business it must take account of compensation received under the carbon tax when setting prices.
Qantas is edging closer to a deal with the Transport Workers Union, which would remove one front from its three-way bargaining deadlock with aviation unions.
Page 15: Rio Tinto will not allow Chinese customers who ask to switch to cheaper short-term pricing for iron ore to resume quarterly pricing when the price recovers.
Page 16: Chevron has voiced confidence about its chances of signing up Korea Gas Corporation as a customer for its $29 billion Wheatstone liquefied natural gas project.
Uranium explorer Bannerman Resources has doused any expectations of a firm takeover offer emerging from Sichuan Hanlong Group.
Page 18: Kagara Mining said it was able to claim an exemption from requiring shareholder approval for a sign-on bonus for CEO Geoff Day that included nine million options.
THE AUSTRALIAN:
Page 1: Julia Gillard will today appeal for support from Commonwealth nations to heap pressure on Europe to tackle its debt crisis as she seeks to build a consensus for global financial change ahead of next week’s Group of 20 meeting in Cannes.
The nation’s most prominent environmentalist, Tim Flannery, has spoken out in support of the coal-seam gas industry, warning that opposition to such exploration could lead to ‘‘social dislocation’’ across regional Australia.
Page 2: One of the nation’s most senior chairmen has warned the slowdown in the global economy flowing from debt-reduction initiatives in Europe and the impact on the Chinese economy could threaten the nation’s booming terms of trade in the short to medium term, but he remains confident about the longer term.
Trade Minister Craig Emerson yesterday denied Australia’s refusal to sell uranium to India has the potential to sour relations between the two nations after Julia Gillard flatly refused to reconsider the ban.
Australian Workers Union national secretary Paul Howes will seek to ‘‘fast-track’’ a collective agreement with Rio Tinto Alcan in an attempt to lock in a workplace deal before the mining giant sells off its smelter operations in Tasmania.
Business costs are growing more slowly, with the strong Australian dollar lowering the price of imported supplies and helping offset big rises in electricity costs.
Page 3: Superannuation funds recorded their worst returns since the global financial crisis in the September quarter, with the biggest funds dropping 5.1 per cent in value in just three months thanks to an extended bout of nerves about US debt and European economies.
Page 4: The Reserve Bank has deliberately held off lifting interest rates this year because a large number of Australians are experiencing mortgage stress and might not be able to sell their way out of trouble.
Coalition support has dropped since the carbon tax passed the House of Representatives and the Malaysian option for offshore processing was blocked, but the Greens, not Labor, have picked up the electoral slack.
Page 5: Communications Minister Stephen Conroy launched an extraordinary attack on the Productivity Commission last night after it raised concerns about a key National Broadband Network promise Labor made to secure minority government.
Business: BHP Billiton and ExxonMobil have unveiled a major new Bass Strait gas development that is expected to lift the construction spend on gas projects in the once-mighty oil producing region to more than $5 billion, bankrolled by the expectation of a surge in east coast gas prices.
The sharemarket rose 2.7 per cent yesterday, adding about $35 billion to the value of companies, amid hopes of a comprehensive fiscal stability plan for Europe and expectations of a soft landing in China.
US giant Peabody Energy has completed its 19-month battle for Macarthur Coal after securing a majority stake with its $4.9 billion bid for the Queensland company.
Manufacturing activity in China has picked up, yielding more positive news for its economy, which increasingly appears on track for a soft landing.
Former Newcrest Mining chief executive Ian Smith has ended months of market speculation about his next move, with the announcement he is to head chemicals group Orica.
The leading Australian banks are on track to record a $24 billion profit for the past year, but investors are starting to question where the sector will find future growth amid weak credit demand.
THE SYDNEY MORNING HERALD:
Page 1: In the days before he killed a teenager, the relative of serial killer Ivan Milat began revealing parts of his murderous plan to friends.
Page 2: Fewer than a third of students in vocational training finish their course despite high intentions when they enrol, figures show.
Page 3: More than a dozen people who lost their homes or businesses in the 2001 Black Christmas bushfires are suing the state for millions of dollars in compensation, claiming authorities were negligent in failing to put out a blaze that started in the Blue Mountains National Park.
World: British Prime Minister David Cameron, returning from an EU summit where he had a furious row with French President Nicolas Sarkozy, was facing a backbench revolt last night from Conservatives who want a referendum on pulling out of the European Union.
Business: The eurozone's two biggest powers, Germany and France, have launched an attack on Italy to stop the rot by taking more radical measures to reform its economy and get its debts under control.
Sport: The Australian-owned German raider Lucas Cranach has overcome a foot abscess and is being fitted for racing plates in preparation for Tuesday's $6.2 million Melbourne Cup at Flemington.
THE DAILY TELEGRAPH:
Page 1: Thousands of foreign students have had their visas cancelled for rorting the system and failing to turn up to class.
Page 2: Foreign student story continued.
Page 3: Almost half the nation is concerned about the level of steamy sex and violence on TV, a survey has found.
World: Rescuers continued their search for victims after a powerful earthquake in eastern Turkey killed at least 217 people.
Business: Origin Energy has reaffirmed its forecast of a 30 per cent rise in underlying profit this year.
Sport: Americain is firming in betting and is a $4 favourite for the Melbourne Cup.
THE AGE:
Page 1: Victorian government buckles to police pay demands, agreeing to 19 per cent rise over four years. Milat relative had planned his Belanglo State Forest murder for days. Australian accuses Sir Lankan president of war crimes. Mega taxi rank planned for Queen Street at night.
Page 3: Chiropractor provided hundreds of hours of hyperbaric oxygen to disabled patient for his own financial gain.
Lord mayor faces dissent from his own council on Occupy Melbourne eviction. Protesters may target Queen's visit to Melbourne.
WikiLeaks website set to go online again next month.
OPI looks into police affidavits review. Bali teen's lawyers hope to avoid a trial.
World: UK PM David Cameron faces a backbench revolt from Conservatives who want a referendum on pulling out of the European Union.
Business: Australian shares gain $35 billion as the dollar hits a six-week high.
Sport: Last year's Melbourne Cup winner Americain is bigger and better, says assistant trainer.
THE HERALD SUN:
Page 1: Nurses and teachers will want the same deal that the government handed to police in their pay rise demands.
Page 3: Special police taskforce set up to find out what happened to missing schoolgirl Bung.
World: Toll soars as rescuers continue search for survivors in Turkey earthquake.
Business: Shares jump at signs that China's manufacturing sector is recovering and Europe is close to addressing its debt crisis.
Sport: Melbourne and North Melbourne win AFL gold with two matches against new boy GWS next season.
THE CANBERRA TIMES:
Page 1: The ACT government was repeatedly warned as early as 2006 that its new emergency services office was poorly planned and would cost too much.
Page 2: A public servant has won compensation for psychological suffering after heavy-handed disciplinary action by her bosses.
Page 3: Owners of a major shopping centre have complained government planning authorities impose "micro management" that hamper renovations.
World: In Turkey survivors have been pulled from the rubble after an earthquake.
Business: Australian shares gained about $35 million as confidence returned to the markets.
Sport: Sydney racehorse trainer Chris Waller is waiting to find out whether his horse Verminator will get a Melbourne Cup slot.
THE COURIER MAIL:
Page 1: The Queen has left a lasting impression on Queenslanders during her four hour visit on Monday.
Page 3 & 5: Queens tour wrap.
Page 7: Sir Joh's son says he was subjected to an expletive laden tirade from LNP treasurer Barry O'Sullivan during a meeting.
Page 9: Queenslanders are losing homes and cars to pay day lenders because of loopholes in the law.
World: There's a frantic hunt for survivors of an earthquake in Turkey with death toll expected to hit 1000.
Business: Australia's shares recovered encouraged by Chinese manufacturing figures and fiscal stability in Europe.
Sport: India has refused to use technology for close decisions in the four test cricket series against Australia this summer.
THE ADELAIDE ADVERTISER:
Page 1: SA to get an ICAC but most inquiries will be behind closed doors.
Page 3: SA people urged to claim $24 million in missing cash.
World: President Cristina Kirchner has won a landslide re-election in Argentina.
Business: Banks face a threat from new entrants, says Bendigo and Adelaide Bank.
Sport: Adelaide will play two games against Greater Western Sydney next year.