Push to rein in high cost green power – The Fin; Labor-Greens relations plunge – The Fin; Saraceni receivers kick off winery sale – The West; BHP, Fortescue make up ground – The Fin; Barnett 'expects' LNP tax challenge – The Aus
Push to rein in high cost green power
Labor and the Coalition has signalled they are prepared to consider reining in the 20 per cent renewable energy target under pressure from industry leaders, who warn it will eventually drive up electricity prices more than the carbon tax. The Fin
Labor-Greens relations plunge
Relations between Labor and the Greens have sunk to their lowest level yet as the minor party said the stoush was threatening the minority government and accused Labor of doing an “appalling job” of selling the carbon price. The Fin
Saraceni receivers kick off winery sale
Luke Saraceni's award winning Saracen Estates winery and the 40ha of land near Margaret River that it is on are being put up for sale by receivers of the controversial property developer. The West
BHP, Fortescue make up ground
BHP Billiton and Fortescue Metals Group are on track to report solid June quarter iron ore figures after Port Hedland Port Authority showed shipments reached record levels during that period. The Fin
Barnett 'expects' LNP tax challenge
Queensland is only ‘‘protecting the constitutional rights of the states’’ in fighting Labor’s mining tax in the High Court, and was ‘‘doing what I would expect them to do’’, West Australian Premier Colin Barnett said yesterday. The Aus
THE WEST AUSTRALIAN:
Page 1: Australia's Olympic swimmers are being underpaid by Swimming Australia, according to their union representative and gold medallist Daniel Kowalski, who is outraged he was bypassed before the announcement of a pay restructure on the eve of the London Games.
Page 3: Rose Porteous, Perth's most famous housekeeper-turned-socialite, is set to divorce high profile real estate agent Willie Porteous after two decades of marriage.
Page 4: After enjoying a 22c a litre fall in petrol prices over the past two months, Perth motorists are facing a price increase.
Page 5: Julia Gillard should consider tearing up the formal pact with the Greens that props up the minority government to boost Labor's dwindling vote, a WA senator has urged.
A coalition government would not need an agreement from Indonesia to turn back asylum seeker boats, Opposition Leader Tony Abbott said yesterday.
Page 9: Nearly 500 Mt Lawley Primary School students who lost most of their historic school to an arsonist at the weekend are likely to be accommodated at the nearby high school.
Page 14: The Pearl Producers Association and pearling company Paspaley have defended the safety record of WA's $200 million pearling industry as the grieving parents of a drift diver demand answers about their son's death.
Page 16: The state government's involvement in Fortescue Metals Group's High Court challenge to the mining tax has been widely misunderstood, Premier Colin Barnett said yesterday.
Business: Iluka Resources managing director David Robb has defended his strategy of protecting the company's margins by slashing production of its mineral sands products, amid another battering of the former market darling at the hands of investors.
Luke Saraceni's award winning Saracen Estates winery and the 40ha of land near Margaret River that it is on are being put up for sale by receivers of the controversial property developer.
Mystery surrounds the companies that could seize control of Navigator Resources through the troubled gold miner's last-ditch capital raising announced yesterday.
The founders of Australia's biggest vehicle dealership group, AHG, have stunned its board by selling a big stake in the listed company to a rival for about $127 million.
Telstra shares closed at a 3 ½ year high yesterday on an otherwise shocking day for equity markets as Australia's dominant telco revelled in its status as the ultimate defensive stock.
Chris Cairns' gold producer Integra Mining is about to brave the poor market conditions and launch a significant capital raising, aimed at paying down debt and funding its expansion plans.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: Labor and the Coalition has signalled they are prepared to consider reining in the 20 per cent renewable energy target under pressure from industry leaders, who warn it will eventually drive up electricity prices more than the carbon tax.
The corporate watchdog is considering calls to abolish the creep provisions in takeover laws that allow sharemarket raiders to increase their holdings without bidding for all of a company's shares.
China is likely to ease monetary policy and speed up government spending as it strives to meet annual economic growth targets and head off the threat of deflation.
Page 3: The top Treasury official working on the federal government's Asian Century white paper has criticised Australian companies for not taking on-the-ground Asian experience seriously enough.
Page 4: Relations between Labor and the Greens have sunk to their lowest level yet as the minor party said the stoush was threatening the minority government and accused Labor of doing an “appalling job” of selling the carbon price.
Page 8: Western Australia's new Treasurer, Troy Buswell, will keep pushing for a floor in the state's dwindling goods and services tax revenue even though a federal review panel says there is “no compelling case” for one.
The Maritime Union of Australia's self-proclaimed militant West Australian branch is now fighting legal battles on multiple fronts following last week's decision by mining giant BHP Billiton to sue.
Page 15: The man in charge of Telstra's multi-billion-dollar media portfolio has ruled out a bid for debt-laden Nine Entertainment and dismissed claims the NBN will unleash a wave of competition in pay television.
ANZ Banking Group chairman John Morschel and chief executive Mike Smith have remained silen on speculation that Mr Smith is a potential contender to become chief executive of Barclays in the United Kingdom.
Page 17: Mineral sands miner Iluka Resources has dramatically lowered its full-year sales forecasts after conceding that the odds are now stacked against a near-term recovery in key economic markets.
BHP Billiton and Fortescue Metals Group are on track to report solid June quarter iron ore figures after Port Hedland Port Authority showed shipments reached record levels during that period.
Base Resources has denied that a weakening demand outlook for mineral sands is affecting its ability to access funds for its Kwale project in Kenya.
Page 19: Rising east coast gas prices, together with the struggle by the Gladstone LNG ventures to guarantee feedstock for their plants, are playing into the hands of gas producers in the Cooper Basin – once seen as a petroleum province in decline.
Page 22: Commonwealth Bank of Australia-owned Bankwest will not be able to close any branches in Western Australia for at least five years under conditions imposed by the state government.
THE AUSTRALIAN:
Page 1: Senior Labor Left figures have backed calls for the party to take a tougher line against the Greens as members of all factions lashed the minor party for its stance on offshore processing and contempt for blue-collar workers.
Page 2: The global financial crisis did not cause the smallest blip in people’s satisfaction with life, with the government’s ‘‘cash splash’’ giving them the biggest income boost they had enjoyed in eight years.
Coles supermarkets face disruption to their Victorian supply chain as 600 warehouse workers go on strike indefinitely today.
Job advertisements dwindled for the third month in a row last month, supporting economists’ fears the unemployment rate is about to rise, but not enough to prompt the Reserve Bank to cut interest rates next month.
Page 3: A former judge, a businesswoman, a former Treasury secretary and two former senators will be called on to advise the Australian Press Council on standards for journalists, despite none of them having any editorial experience.
Page 6: Origin Energy chief Grant King has warned the 20 per cent renewable energy target could add more to power bills than the carbon tax by 2020 as lower grid-based electricity demand and a boom in solar roof-top panels ‘‘crowded out’’ coal and gas-fired electricity generators
Queensland is only ‘‘protecting the constitutional rights of the states’’ in fighting Labor’s mining tax in the High Court, and was ‘‘doing what I would expect them to do’’, West Australian Premier Colin Barnett said yesterday.
Business: Reforms to the electricity sector proposed by the Australian Securities & Investments Commission will drive up costs, increase risk and stifle competition, suppliers have warned.
More than $1.1 billion was wiped yesterday from the value of Iluka after the leading mineral sands producer drastically slashed sales volume expectations because the global economy has ‘‘hit a brick wall’’.
After months of playing coy in the face of sustained rumours of a potential tilt at some of the nation’s largest media companies, Telstra has denied it is poised to make a large-scale acquisition in the media sector.
China's consumer inflation slowed sharply to the lowest level in nearly 2 1/2 years last month — probably a key reason why the central bank was comfortable with cutting benchmark interest rates for the second time in less than a month last week.
Qantas Group has warned its pan-Asia strategy will come under threat unless the consumer watchdog allows it closer co-ordination with Jetstar-branded airlines such as its joint ventures in Japan, Vietnam and Singapore.
THE SYDNEY MORNING HERALD:
Page 1: NSW Premier Barry O'Farrell says the state will not join Queensland and Fortescue Metals Group in their fight against the federal government's mining tax.
Page 2: Complaints about online group buying sites have reportedly doubled but consumer ministers say self-regulation is working.
Page 3: Opposition Leader Tony Abbott says a coalition government would defy Indonesia and turn back asylum seeker boats without permission.
World: Prime Minister Benjamin Netanyahu has vowed to increase the number of ultra-orthodox Jews and Arab citizens who serve in Israel's military or civilian corps.
Business: Rio Tinto is under pressure to change a loophole that sees performance bonuses given to management in a bad year as well as good year.
Sport: The Parramatta Eels won't be the only club bidding for deposed Penrith Panther captain Luke Lewis.
THE DAILY TELEGRAPH:
Page 1: Opposition Leader Tony Abbott has formally refused to participate in the federal government's border protection committee.
Page 2: Asylum seeker crisis threatens to put the federal government's budget surplus at risk.
Page 3: Kirsty Thatcher, 13, has won the Dolly magazine model search.
World: A 22-year-old woman accused of adultery has been shot in Afghanistan.
Business: BHP is planning to increase its exploration after it bought and applied for 36 exploration licences in South Australia's mid-north.
Sport: Luke Lewis said he has left Penrith Panthers in order to pursue a new challenge.
THE AGE:
Page 1: Baillieu government queries the level of Australian history to be taught to year 11 and 12 history students under the proposed national curriculum. Foreign Minister Bob Carr says execution of Afghan woman was barbaric. ALP-Greens war escalates with senior cabinet ministers accusing Greens of being economically irresponsible.
Page 3: A 13-year-old wins model search competition but draws flak from critics who say she is too young. Australia's Olympic swimmers are underpaid and are frustrated and confused, says head of their union Daniel Kowalski. Federal government contractor who delivers e-security alert services has lost 8000 subscribers' personal information in the postal system. New look Hamer Hall reopens later this month. Obesity vaccine has been developed that uses the immune system to keep the body slim.
World: Opposition leader Aung San Suu Kyi makes her parliamentary debut, marking a new phase in her 25-year struggle to bring democracy to Burma.
Business: Shareholders pressure Rio Tinto to close a loophole in its executive remuneration policy that could deliver performance bonuses to management even in a bad year.
Sport: Essendon and Carlton outraged at suggestions they mishandled players who had received serious knocks to the head at the weekend as new debate about concussed players resurfaces.
THE HERALD SUN:
Page 1: Former ministerial adviser Tristan Weston says the OPI conducted a witchhunt against him.
Page 2: Water police find missing diver's scuba tank and buoyancy equipment near the dive site where she disappeared. Scientists say Australia is losing the war to save the Great Barrier Reef.
Page 3: Billy Slater a magnet for his little buddies at Melbourne league clinic. Melbourne cancer researchers discover a way to kill leukaemia and lymphoma cells.
World: Hillary Clinton pleas for the rights of Afghan women after a 22-year-old shot dead for adultery.
Business: BHP Billiton to increase exploration in the outback claiming a vast area in the red centre.
Sport: AFL defends good behaviour clause that helped Magpie Sharrod Wellingham slash his suspension by two matches.
THE CANBERRA TIMES:
Page 1: ACT planners have been told that women in burqas will scare children in Gungahlin if Canberra's Muslim community proceeds with plans to build a mosque in the area.
Page 2: The ACT government is considering more 40km/h speed zones after agreeing to send a proposal for such limits in Civic, Belconnen and Tuggeranong for public comment.
Page 3: Public service cuts are putting the ACT's low jobless rate in jeopardy.
World: Australian Foreign Minister Bob Carr has joined the world condemnation over the shooting execution of an Afghan woman accused by the Taliban of adultery.
Business: Fund managers pressure mining giant Rio Tinto to change a loophole in its executive bonus scheme.
Sport: Brumbies winger Joe Tomane says the ACT Super Rugby side should not to waste its chance if it qualifies for the club's first finals appearance since 2004.
