Cut barriers, Rudd tells Europe – The Aus; Reporting season anxiety – The West; Australian trade push under fire – The Fin; Chevron books reserves for Wheatstone – The West; Stokes sells newly-bought shares in Ten – The Fin
Cut barriers, Rudd tells Europe
Foreign Minister Kevin Rudd has urged Europe to slash barriers to free trade as the best means of generating economic growth to help the continent emerge from its debt crisis. The Aus
Reporting season anxiety
Investors are on edge over what looms as another tough reporting season, which threatens to put manufacturing, retail and media stocks under further pressure. The West
Australian trade push under fire
An Australian push to revive global free trade talks has been backed by a meeting of influential trade ministers despite strong objections by several developing countries. The Fin
Chevron books reserves for Wheatstone
Chevron has booked its first reserves for the Wheatstone LNG project and reinforced expectations that it will begin initial engineering work on a fourth-train expansion of its Gorgon project this year. The West
Stokes sells newly-bought shares in Ten
Seven Group chairman Kerry Stokes appears to have taken the unusual move of selling his 2 per cent holding in Ten Network Holdings just two months after his investment became public. The Fin
THE WEST AUSTRALIAN:
Page 3: A “cult of youth” among managers and executives who regard people aged over 50 as “blockers” or “old codgers” who has stayed too long in their role is contributing to age discrimination against male workers, a new study has shown.
Page 4: Tightening access for the pension will be up for discussion as part of a new push by the federal government to make superannuation fairer.
One in four teenagers in some pockets of Perth is jobless.
Page 5: Fallen powerlines caused a potentially devastating fire in WA's premier wine region yesterday, prompting five-star wineries to shut and creating havoc on busy roads at the end of the school holidays.
Page 6: The federal opposition will request today that the Australian Federal Police investigate events leading to the Australian Day security breach.
Page 12: The state's top judge had ordered a Geraldton inventor pay more than $2 million in damages to a company that invested in his highly-touted fuel supply system now considered worthless by the Supreme Court.
Page 17: After 30 years as one of Broome's key tourist attractions, the Malcolm Douglas Crocodile Park closed its gates for the last time yesterday.
Business: Investors are on edge over what looms as another tough reporting season, which threatens to put manufacturing, retail and media stocks under further pressure.
Chevron has booked its first reserves for the Wheatstone LNG project and reinforced expectations that it will begin initial engineering work on a fourth-train expansion of its Gorgon project this year.
Two months after UK-listed Gem Diamonds brought in Gresham Advisory Partners to look at options for its Ellendale diamond mine in the Kimberley, there's little word on how the process is tracking.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: An Australian push to revive global free trade talks has been backed by a meeting of influential trade ministers despite strong objections by several developing countries.
The future of BHP Billiton's $US20 billion-plus Olympic Dam project will be the focus when the miner's board arrives in Adelaide for a private dinner with South Australian Premier Jay Weatherill.
Page 3: Alan Bond lost his wife Diana Bliss on the weekend – the latest personal tragedy for the former high-flying businessman who spent three years in jail and whose eldest daughter died from a drug overdose 12 years ago.
Page 6: Businesses could lose ownership of assets if they do not comply with new rules starting today for registering cars, leases and other items.
Page 12: Seven Group chairman Kerry Stokes appears to have taken the unusual move of selling his 2 per cent holding in Ten Network Holdings just two months after his investment became public.
Page 39: Mid-market accounting firms are predicting reasonable trading conditions for the first quarter of 2012, but will rely heavily on resource-rich Western Australia and flood-affected Queensland for growth.
THE AUSTRALIAN:
Page 1: Profitable and well-funded banks are critical to the health of the Australian economy at a time of global uncertainty, bank leaders warned as they urged politicians to stop bashing the big four financial institutions.
Page 4: Foreign Minister Kevin Rudd has urged Europe to slash barriers to free trade as the best means of generating economic growth to help the continent emerge from its debt crisis.
Page 5: A union leader has accused a leading employer group of having ‘‘blood on its hands’’ after business intensified criticism of Labor’s plan to establish a tribunal to set pay rates in the trucking industry.
Airline passengers face another whack in the hip pocket this year as carriers rein in capacity in an attempt to avoid the mistakes of 2009, when a glut of new aircraft arrived just as economic woes discouraged people from flying, and fares crashed.
Business: Excessive regulations are saddling banks with extra costs and forcing them to change their products and business models while they are struggling to cut costs.
Reporting season for first half results is expected to be a bloodbath for the retail, manufacturing, media and housing-related sectors, with only those companies connected to the resources sector likely to escape relatively unscathed.
Record production of Australia’s key exports is not enough to stop an expected earnings downgrade across the mining sector, with softening commodity prices tipped to hit forthcoming profit results.
Winemakers are predicting an excellent year for quality tipples as the annual grape harvest gets under way but expect production levels to be slightly down on last year’s 1.67 million tonne intake.
The US economy grew at its fastest pace in 18 months in the fourth quarter as companies restocked their shelves, but underlying weak demand pointed to slower growth in coming months.
THE SYDNEY MORNING HERALD:
Page 1: The federal opposition has called for the Australian Federal Police to investigate events leading up to the Australia Day security breach. The NSW government is moving to bypass councils and rezone sites suitable for development.
Page 2: Industry professionals have been brought together by Superannuation Minister Bill Shorten to advise him on improving superannuation, with some expected to advise him to tighten up the age pension.
Page 3: A survey of 23 agencies has found only two had signed letters of intent by January 20, signalling acceptance of the NSW government's move to cut payments to foster carers.
World: The United Nations Security Council is set to consider moving a resolution by the Arab League that calls for Syrian President Bashar al-Assad to resign.
Business: Big lenders are being forced to pay big money to secure longer term funding as a slowdown in the housing market starts to hit banks.
Sport: Novak Djokovic has kept his No.1 status after he wins against Rafael Nadal in the longest match ever played at Melbourne Park.
THE DAILY TELEGRAPH:
Page 1: Voters have backed Foreign Minister Kevin Rudd to take back the Labor leadership, according to a new Galaxy poll. Novak Djokovic wins his third Australian Open.
Page 2: A candle used as a night light may have sparked a deadly caravan fire that killed a five-year-old boy on the NSW mid-north coast.
Page 3: Children are suffering adult injuries such as RSI and neck pain due to spending too much time using computer tablets and smart phones.
World: Republican presidential hopeful Mitt Romney has launched an advertising campaign against rival Newt Gingrich.
Business: Facebook expected to become one of the largest public companies in the world when it becomes public in March.
Sport: Novak Djokovic has defended his Australian Open crown after beating Rafael Nadal in the longest-ever match at Melbourne Park.
THE HERALD SUN:
Page 1: Novak Djokovic has claimed his third Australian Open title in the greatest final in Australian Open history.
Page 2: Like most sporting groups, Altona Junior Football Club faces a continuous battle to keep fees down.
Page 3: Police are investigating a wild bar brawl involving Carlton star Heath Scotland that left a man unconscious.
World: The man behind an attempted military mutiny in Papua New Guinea has appeared in court.
Business: Credit card interest rates remain stuck at high levels and relief is unlikely even if the Reserve Bank of Australia announces an official rate cut next week.
Sport: Troubled Tiger Daniel Connors has returned after a 12-week suspension, imposed after he was told to "fix your life".
THE AGE:
Page 1: Opposition to ask AFP to probe the roles of PM's office and union leader in the Australia Day security breach.
Victoria's agriculture and food export earnings surge.
Page 2: Survey shows that male workers over 50 feel they are victims of age discrimination.
Page 3: ATO wants more powers to investigate secret tax havens.
Victorian government spending thousands to keep secret public servants advice on its election policies.
World: Huge crowds welcome Burma's opposition leader Aung San Suu Kyi as she hits the campaign trail.
Business: Banks feel strain in slowing housing market.
Sport: India must find a way to win abroad.
THE CANBERRA TIMES:
Page 1: A Canberra nursing home has been declared a serious risk to patients just nine months after regaining its accreditation. Opposition leader Tony Abbott will ask AFP Commissioner Tony Negus on Monday to investigate the tent embassy protest.
Page 2: Rapper and poet Omar Musa turned down a request to be an Australia Day ambassador, saying the date is the focal point of the cultural wars. Popular Canberra bar All Bar Nun calls last drinks after owner of the building it is in ended its lease.
Page 3: The ACT Supreme Court will start the year by assigning dates for some 103 outstanding matters. The NSW government is overruling council planning decisions in an effort to reboot Sydney's housing market.
World: Syria is on the brink of civil war and the Arab League has suspended its observer mission to the country.
Sport: Australian Open champion Victoria Azarenka says there is "no limit" to how much she can improve this year. Former Canberra Raiders player Joel Monaghan says the team can make the finals this year.
