PM backs India uranium sales – The Fin; China's rethink on Oakajee – The Aus; $383m Mid West powerline poses 'unacceptable' risk – The West; FIFO flights growing at breakneck speed – The Aus; Green schemes face Budget axe – The West
PM backs India uranium sales
Prime Minister Julia Gillard will move today to drop Labor's ban on uranium exports to India in a landmark policy shift that will add to $1.7 billion in annual exports but is certain to ignite a row with the Greens and parts of the Labor Left. The Fin
China's rethink on Oakajee
China's $US400 billion sovereign wealth fund, China Investment Corp, has launched an in-depth review into whether Beijing should rescue the troubled Oakajee port and rail project in Western Australia’s Mid-west or walk away from the region altogether. The Aus
$383m Mid West powerline poses 'unacceptable' risk
The state economic regulator has delivered a blow to key iron ore projects in the Mid West by opposing the $383 million cost of building a major powerline from Perth to Three Springs. The West
FIFO flights growing at breakneck speed
More than a quarter of passengers travelling through Perth’s domestic airport are on their way to resources projects as the mining boom mark II continues to defy the doomsayers. The Aus
Green schemes face Budget axe
Treasurer Wayne Swan will look to wind back or axe some of Australia's climate programs to find the savings needed to return the Budget to surplus next year. The West
THE WEST AUSTRALIAN:
Page 1: Julia Gillard is set to demand the Labor Party overturn a 30-year ban on selling uranium to India, arguing it is not in Australia's economic interests to be the only country resisting nuclear trade with the world's biggest democracy.
Page 4: Treasurer Wayne Swan will look to wind back or axe some of Australia's climate programs to find the savings needed to return the Budget to surplus next year.
The consumer watchdog will today warn WA businesses not to fleece customers with excessive price rises when the carbon tax is introduced next year.
Page 6: Australian businesses hoping to sell their environmental wares to Asia have won a major boost after the region's biggest countries yesterday backed a plan to slash import tariffs.
Page 10: Former European commissioner Mario Monti is moving to form a new government to lead Italy out of an alarming debt crisis that has shaken the eurozone and toppled his predecessor Silvio Berlusconi.
Page 11: A summer outdoor cinema that raises money for children's charities has been closed after only one season and organisers say it has cost them $200,000.
Page 13: The proposed liquefied natural gas development north of Broome would create up to 8000 jobs at construction and generate up to $50 billion for the Australian economy over its life, lead proponent Woodside Petroleum said yesterday.
Page 18: WA's economic watchdog has warned that electricity prices would need to rise about 40 per cent – or $600 a year – if the full $8.5 billion spending spree that Western Power is proposing is passed on to customers.
Business: BHP Billiton is forecasting massive production growth by its petroleum division courtesy of its $US20 billion ($19.5 billion) push earlier this year into the environmentally controversial US shale gas business.
Former Perth stockbroker Jonathan Kur has surrendered his passport as he awaits his next court appearance, after pleading not guilty to a string of charges over his alleged role in an $8.8 million fraud against clients of now-defunct firm Hogan & Partners.
Japan's economy grew for the first time in four quarters in a comeback from the earthquake and tsunami disaster, but the rebound already faces multiple global headwinds.
Investors flocked to Paladin Energy yesterday despite the Perth company having to write-down the value of one of its two flagship uranium mines by $US133 million.
A whopping $391 million write-down against Elders' forestry assets was preferable to suffering “death by a thousand cuts”, managing director Malcolm Jackman said yesterday, after delivering his third consecutive annual loss.
The state economic regulator has delivered a blow to key iron ore projects in the Mid West by opposing the $383 million cost of building a major powerline from Perth to Three Springs.
Incitec Pivot shareholders will have to endure modest growth for the group's explosives division this year but will be rewarded by 2015 with a business that is the direct beneficiary of growing urbanisation in Asia to generate stable, dependable earnings.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: Prime Minister Julia Gillard will move today to drop Labor's ban on uranium exports to India in a landmark policy shift that will add to $1.7 billion in annual exports but is certain to ignite a row with the Greens and parts of the Labor Left.
Australian private equity fund Pacific Equity Partners is finalising a takeover proposal worth as much as $700 million for Melbourne-based industrial company Spotless Group.
Finance Minister Penny Wong is promising “difficult decisions” as Labor searches for billions of dollars in savings, but business has cautioned against cutting so deeply that the economy stalls.
US President Barack Obama urged China to behave like a “grown-up” member of the world economy as he turned up his diplomatic offensive at the conclusion to the Asia-Pacific Economic Co-operation leaders' summit in Honolulu.
Page 3: The federal government's overhaul of the tax rules for share buybacks will strip retail investors of capital losses and diminish the attractiveness of participating, experts say.
Page 4: Law and accounting firms will increase starting salaries by about 5 per cent next year – but investment banks and resources companies will offer the biggest pay packets.
Qantas Airways chief executive Alan Joyce said he was confident of negotiating a deal with trade unions before Monday's deadline.
Page 6: Business groups are worried the renewed push by the federal government to reach fiscal surplus could choke economic growth and they warn that even if spending cuts opened the way for further interest rate cuts, it could be of no help to business.
Page 8: Businesses have been warned against using the carbon tax as an excuse to increase prices before its introduction on July 1 next year, under guidelines from the competition watchdog.
A lobby group representing big power users has estimated that electricity prices rose by 12.5 per cent in the year ending September 30, a jump that may be driving down electricity use.
Page 10: The federal government's mining tax returns to parliament next week but lawyers warned it was certain to face court challenges once it became law.
Page 18: BHP Billiton petroleum boss Mike Yeager has revealed ambitions to build a liquefied natural gas export business in the US based on the mining giant's $US20 billion of shale gas acquisitions.
Rural services company Elders has cut all ties with its ill-fated forestry business with a costly write-down of $391 million including staff cuts.
Woodside Petroleum has issued a 2017 deadline for producing first gas from its $30 billion Browse liquefied natural gas development off north-western Australia and reiterated that it expects to meet a mid-2012 target for making a final investment decision on whether to proceed.
Page 19: Fertiliser and explosives maker Incitec Pivot expects modest growth this year despite a bumpy United States market and currency challenges, as it focuses on first production for a new ammonium nitrate plant in Queensland.
Page 21: Paladin Energy expects a supply deficit to emerge in the uranium market in the near- to mid-term as low prices prevent new projects from proceeding.
Page 23: National Australia Bank chief executive Cameron Clyne is no longer the lowest-paid big four banker, with his remuneration jumping 12 per cent to $8.67 million last year.
Page 47: The construction industry is facing a challenge to profits in the year ahead as the competition for new projects heats up.
Page 49: Soaring rents and a shortage of space in the Perth central business district have prompted the West Australian government to rethink the way it handles its 250,000 square metres of city office space.
THE AUSTRALIAN:
Page 1: Labor plans to lift its ban on uranium sales to India as Julia Gillard puts her stamp on foreign policy in the ‘‘Asian century’’ and imposes her authority on the ALP conference next month.
The man appointed by Labor to help local steel companies win a share of major resource projects told the government they had no hope because they were too small and uncompetitive.
All home insurance policies will offer flood cover, including a standard definition of a flood, under a suite of reforms designed to protect home owners and businesses from being caught out by fine print.
Page 2: More than a quarter of passengers travelling through Perth’s domestic airport are on their way to resources projects as the mining boom mark II continues to defy the doomsayers.
Page 3: Full-body scanners will be introduced at Australia’s eight major gateway airports after receiving the green light from the federal government.
Page 4: Julia Gillard has been urged to revive the national reform agenda as Canberra and the states slip behind on a slew of major reforms aimed at making Australia more sustainable, including the strategy for improving energy efficiency in buildings and homes.
Page 6: Julia Gillard has committed Australia to a new trade deal among Asia-pacific nations that seeks to drive the growth of ‘‘green’’ industries by cutting tariffs to 5 per cent or less on environmental goods.
The renewable energy industry has reacted cautiously to APEC’S decision to reduce tariffs on green products, with some saying it is meaningless because Australia can never compete with countries such as China.
Asia-Pacific nations have emphatically rejected any return to protectionism in the face of global economic uncertainty by guaranteeing a ban on imposition of new trade barriers or increases in existing tariffs until 2015.
The Nationals are at odds with Australia’s farmers over the prospect of a new Asia-pacific trade pact, prompting claims of ‘‘fortress Australia’’ protectionism by the rural party.
Business: China's $US400 billion sovereign wealth fund, China Investment Corp, has launched an in-depth review into whether Beijing should rescue the troubled Oakajee port and rail project in Western Australia’s Mid-west or walk away from the region altogether.
BHP Billiton has revealed the extent of its $US20 billion ($19.44bn) bet on controversial shale gas, saying that by the end of the decade its onshore US gas business will account for two-thirds of the production of its big petroleum unit.
Rural services provider Elders has reported a $395.4 million loss for full-year 2011 after write-downs in its forestry division, which is up for sale as the company continues to try to re-engineer its business model.
Woodside estimates its Browse Basin LNG project will generate up to $50 billion in revenue for the Australian economy without significant risks to migrating whales, other marine species or nearby coral reefs.
Fertiliser and explosives maker Incitec Pivot says surging Queensland gas prices driven by coal-seam gas export plans, along with the carbon tax, are powering a productivity push.
National Australia Bank chief executive Cameron Clyne is in line to pocket a lucrative $5 million bonus, on top of a 12 per cent pay rise, for getting the bank back on track and increasing its retail banking market share.
THE SYDNEY MORNING HERALD:
Page 1: Prime Minister Julia Gillard will call on the ALP to reverse its policy and allow uranium exports to India.
Former marine Walter Marsh has been found guilty of murdering nurse Michelle Beets.
Page 2: Government accusations of media bias are an inevitable consequence of the media doing its job of challenging decision-makers and exposing wrongdoing, the print media inquiry has been told by News Ltd, the company widely believed to be its main target.
Page 3: Almost two thirds of voters support legalising same-sex marriage, indicating the public is more relaxed with the concept than politicians.
World: A commander in charge of Iran's missile development program was among those killed in Saturday's explosion at a Revolutionary Guard base near Tehran, it has emerged.
Business: BHP Billiton is forecasting massive production growth by its petroleum division courtesy of its $US20 billion investment earlier this year in the environmentally controversial US shale gas business.
Sport: Representatives of the 16 NRL clubs are set to meet independent commissioners to resolve the funding disagreement that has stalled the establishment of the independent commission.
THE DAILY TELEGRAPH:
Page 1: Convicted murderer Walter Ciaran Marsh confessed murdering Michelle Beets to a News Limited reporter.
Page 2: The New Zealand Labour Party has written to Paul Keating, threatening to rip up his $100 million contract advising the privatisation of Air New Zealand if it wins next week's election.
Page 3: Rail commuters should travel for free before 7am to reduce overcrowding on peak services, an infrastructure adviser has told the NSW government.
World: Former European Union competition commissioner Mario Monti is moving to form a new government to lead Italy out of its debt crisis.
Business: NAB chief Cameron Clyne has reaped a rich dividend from the success of the bank's "break up" campaign, pocketing a $1 million pay rise - the biggest among the big four banks.
Sport: Parramatta CEO Paul Osbourne has been cleared of misconduct but is still expected to announce his resignation.
THE AGE:
Page 1: Lifting uranium ban on sales to India would bring Australia into line with US thinking. Ken Lay lays down the law as new man in charge of Victoria Police.
Afghan asylum seeker to be sent home. Julia Gillard backs conscience vote on gay marriage.
Page 2: Lay to return to traditional values of policing.
Page 3: Nurse work bans are putting lives at risk as 900 beds are closed, says Health Minister David Davis.
Asia Pacific nations put green energy first at Hawaii APEC meeting. Julia Gillard's blowy hair prompts mimicking from Barack Obama at APEC meeting.
World: Senior commander killed in an explosion at a Revolutionary Guard base in Iran.
Business: Pressure mounts on Elders boss to deliver turnaround as the rural services group reveals $400 million in write-downs.
Sport: Hawthorn presidential candidate Geoff Lord reveals his plans for the club.
THE HERALD SUN:
Page 1: Two mums who have been best friends for life will bury their two children, who were killed in separate car accidents, side by side.
Page 2: Actor Geoffrey Rush is Victorian Australian of the Year. Prime Minister Julia Gillard wants Labor to dump its ban on selling uranium to India.
Page 3: Melbourne cattle dog Buddy keeps 100 Thai elephants in line. McDonald's to offer a serve of salad with their meal rather than chips.
World: Italy's new PM says he will work quickly to form a government to tackle the nation's disastrous finances.
Business: NAB CEO Cameron Clyne gets a million dollar pay rise to $8.7 million, reaping the rewards from the bank's "break-up" campaign.
Sport: GWS had offered the father of star recruit Tom Scully a $100,000 plus a year job 12 months before they signed up his son.
THE COURIER MAIL:
Page 1: Prime Minister Julia Gillard will reverse Labor's ban on sales of uranium to India.
Page 3: Vice-chancellor Paul Greenfield, who is involved in a nepotism controversy at the University of Queensland, gave a 21 second explanation for his role in the saga.
Page 5: Two of the four people accused of bringing in 300kg of cocaine were the life of a pirate party just days before their arrest.
World: Former European commissioner Mario Monti was trying to form a new Italian Government to lead the country out of its debt crisis.
Business: The State Government admits its mining zone buffer on the edge of urban developments has holes in it.
Sport: An Australian course designer says the American Presidents Cup team is naive to think it can learn the nuances of Royal Melbourne in three days.
THE CANBERRA TIMES:
Page 1: Uranium sales for India on the agenda.
Page 2: Greens push Labor on gay marriage.
Page 3: Australia's legacy in Afghanistan is evolving: defence chief.
World: New PM vows to give Italy the full Monti.
Business: Government to do what's needed for surplus.
Sport: Haddin won't change batting style as he plays for keeps.
