13/02/2012 - 06:52

Today's Business Headlines

13/02/2012 - 06:52

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PM losing battle over economy – The Aus; Libs warned Labor leader poses threat – The West; Shorten puts blame on managers – The Fin; Canada's Teck likely buyer into Fortescue – The Fin; BHP potash delay tipped – The West

Today's Business Headlines

PM losing battle over economy

Julia Gillard’s economic credibility with voters has crashed since she announced the carbon tax, with the Prime Minister comprehensively losing the lead she had over Tony Abbott at the election in 2010. The Aus

Libs warned Labor leader poses threat

State Liberal MPs have been warned that Mark McGowan's elevation to the Labor leadership is a “game-changer” and they should not be complacent in the lead-up to the March 2013 state election. The West

Shorten puts blame on managers

Workplace Relations Minister Bill Shorten has rejected claims that the industrial relations system entrenches conflict between workers and bosses and blamed bad management for poor workplace performance and declining productivity. The Fin

Canada's Teck likely buyer into Fortescue

Canadian resources house Teck Resources has emerged as the likely buyer of a $480 million stake in Andrew Forrest's iron ore miner Fortescue Metals Group. The Fin

BHP potash delay tipped

A $US12 billion foray into Canadian potash has been tipped as the most likely of BHP Billiton's “mega” growth projects to face a delay or reduced investment. The West

 

THE WEST AUSTRALIAN:

Page 4: NAB and Commonwealth Bank customers face a possible increase in their mortgage rates as the banks seek to beef up their bottom lines at the expense of homeowners.

Federal bureaucrats saddled taxpayers with a bill of almost $12 million for hospitality and entertainment last year.

Page 13: State Liberal MPs have been warned that Mark McGowan's elevation to the Labor leadership is a “game-changer” and they should not be complacent in the lead-up to the March 2013 state election.

Page 14: Almost half of all WA businesses collapse within four years of starting up, research has shown.

The owner of two small bars has been hit with a big tax bill and could be forced into liquidation after the Australian Taxation Office launched Federal Court proceedings last month.

Page 19: Four western suburbs council leaders have been rebuked after forming a splinter lobby group over concerns about the local government reform process.

Business: A $US12 billion foray into Canadian potash has been tipped as the most likely of BHP Billiton's “mega” growth projects to face a delay or reduced investment.

Their on-field performance might have markedly improved in 2011, but the West Coast Eagles are still suffering an almighty hangover from their glory days last decade.

Tap Oil has signed an a agreement to sell its subsidiary Tap Harriet to Apache for $10 million in a move that passes on the litigation risk to the new owner.

One year on from National Australia Bank's Valentine's Day-inspired “break-up” campaign, the big four have become closer in a bid to protect profit margins on home loans.

 

THE AUSTRALIAN FINANCIAL REVIEW:

Page 1: Workplace Relations Minister Bill Shorten has rejected claims that the industrial relations system entrenches conflict between workers and bosses and blamed bad management for poor workplace performance and declining productivity.

The Gillard government has escalated its row with the banks over the cost of home lending in a new move to pressure two of the big four banks not to follow last week's surprise interest rate rises.

Advisers to the debt-laded Nine Entertainment Co have met with senior Seven West Media executives over the potential sale of Nine's ACP magazines division.

Page 3: Rupert Murdoch was poised last night to fly into London for a crisis meeting over the future of The Sun following the arrest of five senior journalists on the newspaper.

Boards are considering inserting bonus clawback clauses into executive contracts as part of a push to curb pay growth that has been out of step with investor returns.

Page 4: Interest rate rises by major lenders have increased the chances of an official rate cut as the Reserve Bank of Australia tries to hold credit pressures steady, according to economists.

Page 14: Canadian resources house Teck Resources has emerged as the likely buyer of a $480 million stake in Andrew Forrest's iron ore miner Fortescue Metals Group.

Page 16: Rio Tinto values the Australasian aluminium assets it has packaged for divestment through the vehicle Pacific Aluminium at less than $US3.8 billion ($3.55 billion).

Page 17: Murchison Metals shareholders will gather in Perth today to vote on a $325 million offer from Mitsubishi for its key assets.

Leighton Holdings' new chief executive Hamish Tyrwhitt is expected to strengthen investor confidence in the construction group by resuming dividend payments at its half-year results today.

Page 49: New York and Toronto-listed Brookfield Office Properties will launch its City Square South tower development in the heart of Perth this year, amid strong tenant interest and tight vacancy rates.

 

THE AUSTRALIAN:

Page 1: Julia Gillard’s economic credibility with voters has crashed since she announced the carbon tax, with the Prime Minister comprehensively losing the lead she had over Tony Abbott at the election in 2010.

Qantas chief executive Alan Joyce has accused ‘‘bullying’’ unions of trying to unwind measures that have made Australia an open and competitive economy, and warned that a protectionist push by the labour movement could lead to more corporate failures and job losses.

Page 3: Mining giant Rio Tinto will wall off the habitat of a newly discovered species of tiny freshwater crab from its planned $1.45 billion bauxite mine expansion on Cape York.

Page 5: Progress towards a no-fault national disability insurance scheme has stalled amid a stand-off between the Gillard government and two state Coalition governments over whether start-up funding will be allocated in the May federal budget.

Business: The introduction of covered bonds has intensified pressure on banks’ funding costs, helping to ensure that the ‘‘dam would break’’ on out-of-cycle interest rate hikes, Westpac says.

The funds management business run by the Packer family’s longtime lieutenant Ashok Jacob has made its first foray into the $24 billion freight-forwarding industry servicing the booming online retail sector by securing a strategic stake in e-commerce freight business .

Temando

As the the mining industry consolidates, BHP Billiton will make more acquisitions, chief executive Marius Kloppers says.

The eurozone debt crisis is deterring some investors from funding small companies in the gold sector, gold project developer Aphrodite Gold says.

Corporate insolvencies shot up by 9.2 per cent last year to 10,481 — the biggest rise since the global financial crisis.

 

THE SYDNEY MORNING HERALD:

 

Page 1: Fans mourn after singer Whitney Houston is found dead in a Beverly Hills hotel room.

Commonwealth and National Australia banks are expected to begin separate reviews of their mortgage and business rates.

Page 2: The Greens are expected to push for the removal of a central element of the health insurance legislation.

Page 3: Chemicals used by drug gangs to manufacture amphetamines are being imported into Australia because of a loophole in federal legislation.

World: Rupert Murdoch was reportedly ready to fly to Britain on Sunday night after the arrest of five senior journalists from the tabloid The Sun.

Business: Reserve Bank of Australia was keeping "BankWest alive" while it waited for the Commonwealth Bank to save it, according to Hugh McLernon, a director of the litigation funder IMF Australia, spearheading a lawsuit against the Commonwealth Bank.

Sport: The Bulldogs reveal plans to host NRL games at their home at Belmore within two years.

THE DAILY TELEGRAPH:

Page 1: Singer Whitney Houston found dead in a Beverly Hills hotel room.

Criminal gang leaders to face jail for up to 10 years and those who shoot up a house set to face up to 16 years in prison under new NSW laws.

World: Iranian President Mahmoud Ahmadinejad announces his country will soon unveil "big new nuclear achievements".

Business: Executive director of the Council of Small Business of Australia says small businesses have become invisible.

Sport: Bulldogs welcome new head coach Des Hasler at Belmore Sports Ground.

 

THE AGE:

 

Page 1: Commonwealth Bank and National Australia Bank expected to review their mortgage rates ahead of reporting huge profits.

Page 2: Greens move to axe the Medicare levy surcharge.

Page 3: Allegations of bullying in Flight Centre's Frankston branch ends up in Fair Work Australia.

Questions raised if monkeys imported from Indonesia for medical research are bred in captivity or taken from the wild.

World: Syrian army defector smuggles family to Lebanon and waits to return to fight with civilians.

Business: ANZ to meet finance union amid speculation it will detail job cuts.

Sport: Channel Nine slams cricket's rotation policy after Hussey and Tendulkar rested from one day game in Adelaide.

 

THE HERALD SUN:

Page 1: Whitney Houston found dead. Paramedics hit with speeding fines on their way to jobs.

Page 2: Newsman Peter Harvey hurt in dog fight.

Page 3: Melbourne property market lifts. Julia Gillard and senior ministers stick with the big four banks, records show.

Business: Reporting season this week will determine how economy is going.

Sport: Hawks welcome opening season games against Collingwood and Geelong.

 

THE CANBERRA TIMES:

Page 1: Big banks likely to deliver mortgage pain within days.

Page 2: Next GFC to be a perfect storm: expert.

Page 3: Australian Greens see chance to sidetrack health levy.

World: Prince William flags a possible extended tour of duty in forces.

Business: Greek PM pleads with politicians to accept bailout deal.

Sport: Gambhir, Dhoni heroics overshadow Forrest's fine debut.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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