Today's Business Headlines

Investor group backs Midwest
Midwest Corp shareholders have thrown their support behind the company, vowing to block a hostile $938 million takeover bid from fellow iron ore hopeful Murchison Metals.

Investors lash Telstra over Sol's millions
Telstra board members have refused to back down in the face of shareholders voting against their pay rise. The Fin Review

Wesfarmers chief warns of hard yakka on Coles
Coles shareholders may have given wesfarmers an overwhelming vote of confidence in the conglomerate's plan to become australia's biggest retailer but even as the votes were being tallied, Richard Goyder was warning the hard work had barely started. The West

Buyout offer for family-run group spurs float plans
Alan Brierty, founder and managing director of soon to-be-listed Brierty Contracting, hopes to double investor's money within a year of his 26-year-old mining andcivil construction company completing a $60 million float at $1 a share. The West

Pluto carbon offset worth $100m to CO2
Ian Trahar's carbon credit company, CO2 Group, has scored a breakthrough deal with Woodside Petroleum to help offset emissinos from the energy giant's $12 billion Pluto gas project. The West

THE WEST AUSTRALIAN
Page 1: The Reserve Bank has fired a warning shot at both major parties over their multi-billion-dollar tax cut promises after lifting interest rates to an 11-year high yesterday, giving notice of more mortgage pain unless a surging economy is brought under control.

Telstra's board has been dealt one of the most embarrassing blows in the Australian corporate history after a staggering two thirds of shareholders voted against the generous pay package for its senior executives, including Sol Trujillo

WA needs a major increase in immigration to help supply the 400,000 extra workers needed in the next decade, according to a fresh report by the CCI.

Business: Coles shareholders may have given wesfarmers an overwhelming vote of confidence in the conglomerate's plan to become australia's biggest retailer but even as the votes were being tallied, Richard Goyder was warning the hard work had barely started.

Midwest Corp shareholders have thrown their support behind the company, vowing to block a hostile $938 million takeover bid from fellow iron ore hopeful Murchison Metals.

Alan Brierty, founder and managing director of soon to-be-listed Brierty Contracting, hopes to double investor's money within a year of his 26-year-old mining andcivil construction company completing a $60 million float at $1 a share.

Ian Trahar's carbon credit company, CO2 Group, has scored a breakthrough deal with Woodside Petroleum to help offset emissinos from the energy giant's $12 billion Pluto gas project.

THE AUSTRALIAN FINANCIAL REVIEW

Page 1: Coalition leaders struggled to retain their economic credibility yesterday when it emerged they had gone into the election campaign assuming the Reserve Bank would not move on interest rates. Telstra board members have refused to back down in the face of shareholders voting against their pay rise. World oil prices are set to hit $US100 a barrel.

Page 3: Australia's labour shortage is worse than feared and a massive increase in overseas migration to Western Australia is needed, a business lobby group has warned.

World: US president George Bush has warned congress of the risks involved in isolationism in Latin America if it fails to approve four free trade agreements.

Market: The Reserve Bank is expected to raise interest rates another 25 basis points early next year.

THE AUSTRALIAN

Page 1: Despite Prime Minister John Howard's apology to Australia over another interest rate rise from the Reserve Bank, Australian businesses have backed the embattled PM. A Victorian assistant police commissioner and the force's media director have voluntarily stood down pending the result of an inquiry into high-level leaks. Despite the interest rate rise John Howard is popular with people who have mortgages.

Business: Telstra's board has gone ahead with a pay increase despite shareholder's voting against the move.