Car industry prepares for Ford exit – The Fin; Miners to take hit as iron ore prices slump – The Aus; Unsafe trucks 'putting public safety at risk' – The West; Chevron redoes its Gorgon sums – The Fin; Another bid to ban plastic bags – The West
Car industry prepares for Ford exit
Companies and advisers involved in the car industry have begun talking openly about Ford, the No.3 car maker, quitting local production in 2016. The Fin
Miners to take hit as iron ore prices slump
Iron ore, the nation’s biggest export and the main target of the federal government’s mining tax, has continued a two-week price slump, falling to a 2½ - year low as Chinese demand continues to wane. The Aus
Unsafe trucks 'putting public safety at risk'
Police have accused trucking companies of endangering the lives of drivers after finding almost half the heavy trucks stopped on South West roads last week had safety defects. The West
Chevron redoes its Gorgon sums
Escalating labour costs, productivity issues and the strong Australian dollar have finally forced Chevron to admit the $US37 billion budget for its Gorgon liquefied natural gas project in Western Australia is set to rise. The Fin
Another bid to ban plastic bags
Plastic shopping bags could soon be banned in Leederville, Mt Lawley and North Perth after City of Vincent mayor Alannah MacTiernan said she was in favour of replicating draft laws passed by Fremantle council. The West
THE WEST AUSTRALIAN:
Page 1: Police have accused trucking companies of endangering the lives of drivers after finding almost half the heavy trucks stopped on South West roads last week had safety defects.
Page 4: WA has made a last-ditch bid to host a trial of the National Disability Insurance Scheme as cracks emerged among the federal coalition's chief economic spokesmen over its establishment.
More voters prefer Kevin Rudd to Tony Abbott as prime minister but if an election were held now it would be a wipeout win to the coalition, according to the latest polling.
Page 5: Virgin Australia will order new high-tech planes such as the Boeing 787 Dreamliner, add more international routes from Perth and put its Airbus A330s on transcontinental routes to WA as it speeds up its transformation from a budget carrier.
Page 6: Plastic shopping bags could soon be banned in Leederville, Mt Lawley and North Perth after City of Vincent mayor Alannah MacTiernan said she was in favour of replicating draft laws passed by Fremantle council.
Page 12: Perth Arena's lavish corporate boxes have sold out for at least the next two years, with WA's business community shelling out up to $114,000 a year to secure the best seats in the house.
Page 14: Big-name music and film festivals, cultural attractions and an annual Port Hedland air show will underpin a new drive to resuscitate the tourism sector in the state's north.
Business: Chevron has begun preparing investors for possible budget blowouts at its Gorgon LNG venture on Barrow Island, admitting that labour costs are “trending higher” and pointing to a 20 per cent rise in the Australian dollar since the country's biggest resources project was sanctioned for development.
Engineering projects in the resources sector too often run late and over budget, according to AusGroup managing director Laurie Barlow.
Navy vessels and associated defence support services could soon use Port Hedland harbour as part of a plan to diversify the world's largest bulk export port.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: Companies and advisers involved in the car industry have begun talking openly about Ford, the No.3 car maker, quitting local production in 2016.
Nearly two-thirds of Labor voters say the party should direct preferences to the Greens in a rejection of the campaign against the alliance partner led by key Labor officials.
The long promised reform of tax laws for managed investment trusts, first touted more than three years ago as a major step to promote Australia as a financial hub, is set to be delayed for the third time in a year.
Page 3: Opposition Leader Tony Abbott has stepped up his push for a tighter foreign investment regime just as China has opened up foreign investor access to its capital markets.
Page 5: A majority of Coalition and Labor voters support Prime Minister Julia Gillard's stance against raising the GST or broadening the base to include health, education or food.
Page 13: Echo Entertainment Group is open to James Packer's plan to establish a joint venture servicing the international high roller market in Australia should the billionaire's Crown Ltd lift its stake in its rival to 25 per cent.
Page 15: Third-ranked mobile carrier Vodafone Hutchison Australia has declared it does not require any more money from its shareholders after posting another heavy financial loss and hinting it might skip crucial spectrum auctions next year.
The Australian advertising market is forecast to grow only 2.8 per cent a year over the next four years to $14 billion in a sign that structural change is altering the make-up of the sector.
Page 16: Escalating labour costs, productivity issues and the strong Australian dollar have finally forced Chevron to admit the $US37 billion budget for its Gorgon liquefied natural gas project in Western Australia is set to rise.
Page 17: Write-downs of North American shale gas assets by two major players and reduced forecasts for gas prices signal a new reality for BHP Billiton just a year after it spent $US20 billion on shale acquisitions in the United States.
BHP Billiton investors have urged the miner to exercise restraint as it considers a decision on the $20 billion plus expansion of South Australia's Olympic Dam site, as falling commodity prices and weaker demand shake confidence in the project.
Page 20: Lower commodity prices, poor consumer sentiment and global economic uncertainty point to another tough earnings season ahead, but behind the fragility could lie some positive surprises and unexpectedly resilient sectors.
THE AUSTRALIAN:
Page 1: Fair Work Australia president Iain Ross has moved to repair the damage inflicted on the body’s reputation by the Health Services Union scandal, introducing a code of conduct and performance benchmarks that include timely decision-making.
Environmental red tape and heritage concerns have bogged down the introduction of basic counter-terrorism measures at the nation’s most vulnerable defence bases.
One of the Coalition’s most formidable campaign strategists, James McGrath, has been urged to stick with the conservatives after failing in his bid to become a federal candidate in Queensland.
Page 2: Three days after securing NSW and Victorian agreement for National Disability Insurance Scheme trials another row looms after Canberra signalled it expected the states to fund part of the $8 billion in extra costs when the NDIS is implemented in 2018.
The Senate has become a retirement home for former union leaders who want to top up their superannuation, says a reformist West Australian state Labor MP who wants the electoral commission to oversee party ballots to reduce the power of faction leaders.
Page 5: The nation’s biggest listed investment fund and one of BHP Billiton’s top shareholders has applauded moves by big miners to shelve Australian projects because of high costs and sliding commodity prices.
Business: Westfield is planning to invest a further £3 billion ($4.51bn) in Britain in the next few years as part of a strategy of expanding its footprint in upmarket shopping centres in the country.
Rising labour costs and a strong dollar have led oil major Chevron to announce a detailed review of the costs and timing of the $43 billion Gorgon LNG operation in Western Australia.
Iron ore, the nation’s biggest export and the main target of the federal government’s mining tax, has continued a two-week price slump, falling to a 2½ - year low as Chinese demand continues to wane. China's long-term view on the strength of its appetite for iron ore will be tested this week when the country’s top economic planner announces its decision on Sichuan Hanlong Group’s $1.7 billion bid for Australian-listed Sundance Resources.
The tide appears to be turning for the initial public offering market, with several floats in the pipeline, but investors are calling for change on the structure of deals.
Due diligence on surfwear company Billabong International by private equity player TPG is not expected to begin in the next week, with both sides yet to finalise a vital confidentiality agreement.
THE AGE:
Page 1: The troubled journey of Nick D'Arcy to an Olympic Games appearance is about to reach its climax when he swims for Australia. Greenpeace claims that PNG's former Somare government passed laws that would accelerate the stripping of its tropical forests. Carbon price fears ease among Australians, says poll. Kevin Rudd holds a big lead over Tony Abbott as preferred prime minister.
Page 3: A lack of prison beds to cater for its tough law and order agenda appears to be behind Baillieu government not penalising construction group for missing Ararat prison January deadline. James Packer's Crown casino to set up a tent in the Birdcage at the Spring Carnival. "Boomerang" kids being welcomed home, in the most part, by older parents. Men with high testosterone levels may be more likely to develop prostate and lung cancer in old age, says new study. Archibald Prize winner and grunge painter Adam Cullen dead at 47.
World: Exiled Syrian opposition urges fellow Arabs and friends to supply weapons to insurgents fighting against Assad forces.
Business: VRC swamped with Melbourne Cup sponsorship and hospitality deals that will push revenues in this year's spring racing carnival 20 per cent above those before the global financial crisis.
Sport: Former Collingwood coach Mick Malthouse says Hawthorn is set to end its Geelong hoodoo in Friday night clash at the MCG.
THE HERALD SUN:
Page 1: Former Victorian premier Steve Bracks tells in his memoirs that he dumped Sir James Gobbo as governor because he had not revealed his links to a Liberal-dominated lunch club. Gold medal winning relay team overcome adversity to beat the world.
Page 2: Jeff Kennett says Steve Bracks wasted his legacy and he won't be reading the former Labor premier's book.
Page 3: Councils spend big to stage Aboriginal welcome-to-country ceremonies.
World: Syria's second city Aleppo ripped apart by shelling and slaughter.
Business: Olympics proving a boon for local businesses with Australians spending a potential $2.6 billion even if just to avoid them by going to the cinema or taking a holiday.
Sport: Saints coach Scott Waters say his players have to go to another level to beat Collingwood after they trounce the Bulldogs.
