Spy cloud hangs over China trip by Lib MPs – The West; Toyota warns of permanent decline – The Fin; 35,000 jobs at risk as reforms bite – The Aus; Italy, Spain urge rescue booster – The Fin; CBA's De Luca to take the helm of Bankwest – The West
Spy cloud hangs over China trip by Lib MPs
A string of Liberal frontbenchers have been flown to Beijing by a telecommunications company under scrutiny in Washington for alleged links to the Chinese security services. The West
Toyota warns of permanent decline
Toyota's future as a manufacturer in Australia depends on the company hanging onto its crucial Middle East export markets and a return to international competitiveness, possibly through a lower Australian dollar. The Fin
35,000 jobs at risk as reforms bite
More than 35,000 financial advisers and support staff could be driven out of the industry under an alarming prediction from the financial planning industry, which fears that sweeping legislative changes will swamp their businesses in red tape. The Aus
Italy, Spain urge rescue booster
Political leaders in Italy and Spain have called for a massive boost to the European Union rescue fund and a blast of monetary stimulus by the European Central Bank, putting them on a collision course with Germany over the handling of the euro zone crisis. The Fin
CBA's De Luca to take the helm of Bankwest
Incoming Bankwest managing director Rob De Luca will take the reigns at a crucial time for the one-time Rural & Industries Bank of WA, which faces a looming deadline to hand back its banking licence or lose its ability to tap its parent for funds. The West
THE WEST AUSTRALIAN:
Page 3: A string of Liberal frontbenchers have been flown to Beijing by a telecommunications company under scrutiny in Washington for alleged links to the Chinese security services.
Page 6: Unrestricted Sunday trading will be introduced across WA before next year's state election under a deal proposed by new opposition leader Mark McGowan.
Page 9: Three construction giants have been shortlisted for the construction of the Perth waterfront inlet and public spaces.
Page 11: The supply of Tip Top bread is under threat as bakers threaten industrial action over pay demands.
Page 17: One in four WA workers does not get paid leave, the state's main union body has said.
Business: Incoming Bankwest managing director Rob De Luca will take the reigns at a crucial time for the one-time Rural & Industries Bank of WA, which faces a looming deadline to hand back its banking licence or lose its ability to tap its parent for funds.
Senior CBH Group executive Brian Mumme will leave the grain co-operative in March to head the gas marketing agency for the $27 billion North West Shelf project.
Mirabela Nickel has slashed the size of its Brazilian executive team, cut back on high-cost contractors and flagged more belt tightening in a bid to reduce costs at its flagship Santa Rita mine.
Softening global demand has prompted Global Advanced Medals to close its Wodgina tantalum mine in the Pilbara less than a year after it was reopened.
BHP Billiton's faith in the ability of global demand to absorb up to an extra 240 million tonnes of iron ore annually could be tested by the end of the year, with plans for an outer harbour at Port Hedland receiving the conditional tick from WA's environmental watchdog.
The owners of the Goldfields gas pipeline are committing $150 million to a major upgrade which will help power the breakneck expansion of WA's iron ore industry.
Imdex has made good on its commitment to push deeper into oil and gas, with the drilling group's new Dubai-based joint venture agreeing to a $US100 million tie up with a US player.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: Toyota's future as a manufacturer in Australia depends on the company hanging onto its crucial Middle East export markets and a return to international competitiveness, possibly through a lower Australian dollar.
Page 5: Production costs are slowing, adding to evidence of a general easing in inflation that could cement the case for a February interest rate cut.
Page 10: The West Australian Labor Party will support limited uranium mining and Sunday shopping in a major reversal under its new leader designed to drive up its poor poll numbers.
Page 11: Red Rooster founder Peter Kailis is seeking repayment of about $1 million from his son's olive oil business, which was placed in receivership because it couldn't repay its debts.
Page 12: Political leaders in Italy and Spain have called for a massive boost to the European Union rescue fund and a blast of monetary stimulus by the European Central Bank, putting them on a collision course with Germany over the handling of the euro zone crisis.
Page 13: International Monetary Fund managing director Christine Lagarde has warned the world could be headed for a “1930s moment” as the multilateral organisation prepares to downgrade global growth forecasts.
Page 16: BHP Billiton is on track to approve the first major spending on a $US10 billion-plus outer harbour project at Port Hedland in the coming weeks after receiving conditional environmental approvals from the West Australian government.
Page 37: One of Commonwealth Bank of Australia's chief cost-cutters will take over the running of its West Australian subsidiary, Bankwest.
Page 42: As Sydney's financial-sector focused CBD office market huddles down against the global economic chill, a construction boom across Melbourne, Perth and Brisbane has led to a sharp rise in the volume of commercial space.
THE AUSTRALIAN:
Page 1: Toyota has launched the first wave of forced redundancies by an Australian carmaker since Mitsubishi closed down in a move that reinforces fears about the viability of the struggling industry, with one former car boss declaring local assembly plants could be gone in seven years without radical action.
Julia Gillard says Australia is at risk of losing ‘‘the education race’’ with its Asian competitors, warning it could become ‘‘the runt of the litter’’ unless there was sustained reform.
Page 2: The ACTU has slammed Labor’s plans to set up a new regulator to replace the Australian Building and Construction Commissioner, claiming it would struggle to be impartial and that many workers would treat it with distrust.
Page 3: Rio Tinto’s $1.4 billion bauxite mine expansion on Cape York has become the latest flash point over the threats caused by increased shipping in the Great Barrier Reef due to the mining boom.
Page 5: All West Australians will finally be able to shop on Sundays no matter who wins the next election, maybe within months after a major policy shift announced by new Labor leader Mark Mcgowan.
The workplace war between Qantas and its engineers has ended after the industrial relations umpire yesterday signed off on a new workplace agreement.
Business: More than 35,000 financial advisers and support staff could be driven out of the industry under an alarming prediction from the financial planning industry, which fears that sweeping legislative changes will swamp their businesses in red tape.
Origin Energy will push ahead with an investment decision on the second stage of its Gladstone LNG project after formalising a $US1.1 billion ($1.05bn) deal with China, shrugging off industry concerns about future demand and falling gas prices.
BHP Billiton’s massive $US40 billion ($38bn) Outer Harbour plan at Port Hedland has received a conditional green tick from Western Australia’s environmental regulators.
A Chinese nuclear company has moved a step closer to bidding for Australian uranium explorer Extract Resources but the target says it is still seeking alternative suitors.
Toro Energy is talking to Asian investors interested in its key Wiluna uranium project.
Commonwealth Bank chief executive Ian Narev has moved to shake up Bankwest by appointing Rob De Luca to run the bank in a reshuffle that will bring the West Australian subsidiary’s managing director Jon Sutton back to the main group.
THE AGE:
Page 1: Stronger Australian dollar and falling sales lead to 350 job cuts at Toyota Australia.
Serena Williams bundled out by little known Russian Ekaterina Makarova.
Opposition Leader Tony Abbott's policy of turning refugee boats around causes concern at home and abroad.
Page 2: Toyota workers have nervous 10 weeks ahead to find out who will get the sack.
World: Egyptians more at risk of arbitrary arrest than during the Mubarak era.
Finance: European wine flooding Australian market at the expense of the local drop.
Sport: Japan has its first Australian Open quarter finalist in 80 years.
THE HERALD SUN:
Page 1: Taxpayer handouts of $100 million couldn't save 350 jobs at Toyota, which is buckling under the strong Australian dollar.
Page 2: Premier Ted Baillieu shuffles off top adviser to US who's been blamed for the coalition government's slow start in office. Cliff Young's life as an ultra marathon runner is being made into a telemovie.
Page 3: Beach-loving mum who drowned trying to save her son hailed as a hero. Excess Baggage star K-Fed taken to hospital after training run with Greater Western Sydney complaining of chest pains.
Business: RBA under pressure to cut rates again as manufacturing industry under pressure with job cuts.
Sport: Out-of-form Serena Williams beaten by rank outsider.
THE ADELAIDE ADVERTISER:
Page 1: The Newport Quays developer has accused the state government in court documents of shelving its $2 billion Port Adelaide development to help it win the coming by-election in the seat of former treasurer Kevin Foley.
1: Nearly six thousand homes across the northeastern suburbs were without power last night as the city sweltered in 35C heat.
1: The Queen has charged taxpayers $15,000 for framed photographs of herself and other mementos handed out as gifts during her tour last year.
World: An Afghan soldier who shot dead four French troops says he did it because of a recent video showing US marines urinating on dead Taliban.
Business: The partners in Australia's biggest coal-seam gas project are expected to confirm plans to extend the venture within months after a Chinese company increased its investment.
Sport: Ryan Harris has told how his mum's death jolted him out of grade cricket to become a Test spearhead.
