27/02/2012 - 06:54

Today's Business Headlines

27/02/2012 - 06:54

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Gillard win but Labor bloodied – The Fin; Councils warn waterfront plan could cause gridlock – The West; WA says its share of GST pool heading for zero – The Fin; Cash pot for future will hurt' WA – The West; Austal hits cross-currents – The West

Today's Business Headlines

Gillard win but Labor bloodied

Prime Minister Julia Gillard is expected to win today's Labor leadership ballot, but be wounded by confirmation that around one-third of her caucus has abandoned her. The Fin

Councils warn waterfront plan could cause gridlock

Local councils have warned of traffic chaos and gridlock if the state government allows the Perth waterfront development to go ahead before secondary roadworks such as the widening of Graham Farmer Freeway are completed. The West

WA says its share of GST pool heading for zero

By 2015, Western Australia will have contributed more than $8 billion to other states over the past three decades under the system of allocating the goods and services tax and federal grants, state Treasury figures show. The Fin

Cash pot for future will hurt' WA

Colin Barnett's plan for a sovereign wealth fund has been attacked by a conservative think tank as a waste of money that would short-change West Australians in the long-run. The West

Austal hits cross-currents

Shipbuilder Austal has blamed a shock $3 million interim loss on a slump in activity at its WA plant and budget blowouts during construction of a new naval vessel at its US operations. The West

 

THE WEST AUSTRALIAN:

Page 1: Julia Gillard has demanded that Labor end its civil war ahead of an expected crushing victory over Kevin Rudd in a leadership spill this morning.

Page 5: Almost all WA Labor MPs go into today's Labor leadership ballot saying they are going to vote for Julia Gillard to stay leader.

Page 12: Local councils have warned of traffic chaos and gridlock if the state government allows the Perth waterfront development to go ahead before secondary roadworks such as the widening of Graham Farmer Freeway are completed.

Page 16: The Department of Housing has almost doubled the number of evictions of public housing tenants under its three-strikes policy in the past 13 months.

Page 17: Colin Barnett's plan for a sovereign wealth fund has been attacked by a conservative think tank as a waste of money that would short-change West Australians in the long-run.

Page 18: A growing number of Australian jobseekers have raised their wage expectations and are shunning menial jobs in favour of the lucrative dollars they can earn in the mining industry, according to WA's peak business group.

Page 19: WA has the second lowest government investment in tourism in the nation, according to an analysis.

Business: Shipbuilder Austal has blamed a shock $3 million interim loss on a slump in activity at its WA plant and budget blowouts during construction of a new naval vessel at its US operations.

The management team at global brewing giant SABMiller will concentrate on three areas to extract value from last year's $12.3 billion acquisition of Australian brewer Foster's group.

The head of Australia's biggest pure-play residential developer says the first green shoots are emerging in the WA housing sector, with Peet recording a “material” pick-up in activity over the past two months.

Perseus Mining is hoping environmental approvals and a mining licence are just around the corner for its Cote d'Ivoire gold project.

 

THE AUSTRALIAN FINANCIAL REVIEW:

Page 1: Prime Minister Julia Gillard is expected to win today's Labor leadership ballot, but be wounded by confirmation that around one-third of her caucus has abandoned her.

Key figures close to Prime Minister Julia Gillard have begun working on what one called a “post trauma” recovery plan for the Labor government in anticipation of a decisive victory over Kevin Rudd in today's leadership ballot.

Page 3: Prime Minister Julia Gillard's key economic ministers have rebuffed Kevin Rudd after he left open the prospect of lowering the carbon tax if he becomes prime minister, warning it could hit the budget bottom line.

The Australian Workers Union is pushing the West Australian Labor Party to select one of its preferred candidates for a safe state seat, a sign that national secretary Paul Howes is trying to expand his political power base in the state.

Page 5: Special Minister of State Gary Gray and Defence Minister Stephen Smith have been touted as possible replacements for Martin Ferguson in the high-profile Resources portfolio.

Page 11: By 2015, Western Australia will have contributed more than $8 billion to other states over the past three decades under the system of allocating the goods and services tax and federal grants, state Treasury figures show.

Page 18: Rio Tinto is talking to Brazilian miner Vale about sharing rail and port infrastructure for their respective Simandou iron ore projects in Guinea, in a move that represents a major shift for the Anglo-Australian miner.

Page 48: Perth property developer Ian Wallace used part of a $1.64 million dividend issued by his embattled company Ironbridge Holdings in 2009 to pay off a debt for his daughter, while furious customers waited for prepaid fencing and landscaping.

 

THE AUSTRALIAN:

Page 1: Julia Gillard is poised to win today’s Labor leadership ballot but faces ongoing political turbulence, with her critics predicting MPS will seek to draft Kevin Rudd to the leadership later this year.

Finance Minister Penny Wong has warned that Kevin Rudd's plan for an early move to a floating emissions trading scheme could have “a very negative effect” on the federal budget.

Page 2: Holden is seeking about 2½ times as much federal government money as the $100 million speculated for the package to maintain two-model manufacturing at its Adelaide car factory, according to chairman and chief executive Mike Devereux.

Page 3: Western Australia’s prime tourism and wine region, the playground of many wealthy Sandgropers riding long and hard on the back of an unprecedented mining boom, is slowly getting off its knees after an unprecedented number of tragedies.

Telstra has signed a key commercial agreement with the NBN Co which allows the telco to start signing up customers to the $36 billion National Broadband Network.

Page 5: Independent Rob Oakeshott has declared he will ‘‘fight as hard’’ as possible against the ‘‘retail politics’’ of Tony Abbott, in the face of mounting pressure from the opposition to pull the pin on Julia Gillard’s minority government.

Page 6: Resources Minister Martin Ferguson has revealed that Kevin Rudd was on the cusp of securing a deal with the mining industry over the failed resource super-profits tax on the night he was toppled as prime minister.

Business: James Packer’s Crown is expected to spend more than $600 million to move to a 19.9 per cent stake in rival casino group Echo Entertainment if it passes government probity checks, but the target board will resist Crown’s push for board representation without a full takeover bid.

Australia's mining services and contracting sector is cashing in on the resources boom as demand increases for its support in a skills-constrained environment that is driving project costs higher.

The world’s biggest oil company says the next 30 years are looking good for oil and gas suppliers and consumers, but perhaps not so good for miners.

Stockland Holdings chief executive Matthew Quinn has warned the leadership battle within the Labor government is affecting consumer confidence.

Businesses struggling to pay Workcover premiums are considering closing their doors as the premiums threaten to move even higher.

Thousands rallied yesterday in Malaysia in the biggest protest yet against Lynas Corporation’s rare-earths plant, as the opposition vowed to shut down the facility if it came to power.

 

THE SYDNEY MORNING HERALD:

Page 1: Labor calls for unity before vote in which Julia Gillard is expected to win. Leadership vote won't end war because it won't address the party's underlying issues.

Premier Barry O'Farrell embraces James Packer's plans for a new casino at Barangaroo.

Page 2: One in five staff members of Cronulla Fisheries Research Centre are being offered a new job in Sydney.

Page 3: Children addicted to video games are more likely to suffer from depression, anxiety and social phobias, according to a visiting American researcher from Iowa State University.

World: Syrians were to vote in a referendum on Sunday. A partly Australian wildlife centre in Thailand has been raided and 103 animals taken away by Thai park officials.

Business: Manufacturing industry will survive high Australian dollar, Ross Gittens writes.

Sport: Half a kilogram could sway John McNair into preferring the New Market Handicap as the start of Hay List.

THE DAILY TELEGRAPH:

Page 1: Julia Gillard will win Monday's vote but the contest will leave her leadership terminally damaged.

Page 2: Barry O'Farrell will back James Packer's planned $1 billion casino at Barangaroo saying it will bring jobs to Sydney.

World: Rupert Murdoch oversaw the printing of the first edition of The Sun On Sunday in London on Sunday.

Business: Australia's high dollar makes it attractive to invest in overseas shares.

Sport: A controversial decision allowed Michael Hussey to stay at the crease on Sunday, to continue his rampant one-day form.

THE AGE:

Page 1: Julia Gillard has to pull together a deeply divided government after dealing with Kevin Rudd.

Page 2: Call for dedicated jet ski area after man dies when hit by jet ski. Researcher says children addicted to video games more likely to suffer depression, anxiety.

Page 3: Civil liberty groups say new crime commission powers too intrusive.

Premier Ted Baillieu wants grand prix to stay in Melbourne but looks to cut costs.

Arts Centre tower to be lowered for repairs. New Sun on Sunday paper aimed at the female market.

World: Syrians vote in a referendum on a proposed new constitution which Assad opponents deride as as cosmetic and irrelevant.

Business: Financial advisers could pocket an extra $150 million in commissions if government delays overhaul of the industry.

Sport: AFL coaches have mixed feelings about video referral trial in pre-season cup.

 

THE HERALD SUN:

Page 1: Julia Gillard to launch an 18-month campaign to restore Labor's stocks with the expectation she will comfortably see off the Rudd leadership challenge.

Page 2: Victorian government considers plan to build a monorail to Avalon Airport.

World: Costa Concordia captain passionately kissed blonde tour guide a few hours before running the ship aground.

Business: Labor Party leadership vote to dominate the sharemarket action.

Sport: Australia storm into the tri-series cricket finals after thrashing India.

 

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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