Today's Business Headlines

China calls for deeper ties

One of China's top diplomats in Australia has called for the relationship between the two countries to move beyond resources to finance, infrastructure and agriculture. The Fin

Barnett stands firm on GST reform

Colin Barnett yesterday rejected claims by shadow Federal treasurer Joe Hockey that reforms to the GST carve-up would hurt Australia. The West

Aquila boss calls for action on Anketell Point ore port

Tony Poli has called on the government to break the deadlock over Anketell Point and hand his Aquila Resources the right to build the first stage of the iron ore port. The West

$200bn resource projects in doubt

Almost $200 billion worth of planned resource investments are looking unlikely as surging costs driven by a high dollar and rising wages combine with a falling outlook to dash a second-stage investment boom. The Aus

WA miners plead not guilty

A tax scheme promoter who helped spark the $430 million Project Wickenby investigation into the tax affairs of Australia's rich and famous is emerging as a key player in criminal proceedings targeting high-profile mining entrepreneurs Ron Sayers and Peter Bartlett. The Fin

THE WEST AUSTRALIAN:

Page 3: WA drivers should get a demerit point for speeding by less than 10km/h to tackle the state's problem with low-level speeders, according to road safety experts.

Gina Rinehart has been ordered to pay legal bills racked up by her three estranged children and a collection of media outlets after he failed attempt to keep her family's bitter court feud private.

Page 4: Colin Barnett yesterday rejected claims by shadow Federal treasurer Joe Hockey that reforms to the GST carve-up would hurt Australia.

Page 5: WA's housing market is single-handedly pulling the national market out of the mire, led by increasing confidence among the state's first-time buyers.

Page 9: All Mandurah shops can trade on Sundays year round from as early as next month.

Page 10: Port Hedland's long-awaited “Hillarys-style” marina has been given the green light with the state government committing $112 million to the project.

Page 11: A record dry July looks set to cut the state's grain crop by about one-third, or $1.5 billion in value.

Page 13: The state government is using outdated data to underpin the next 10-year South West forests blueprint, provoking outrage from conservationists who say the move makes a mockery of scientific process.

Business: Tony Poli has called on the government to break the deadlock over Anketell Point and hand his Aquila Resources the right to build the first stage of the iron ore port.

WA's foodie revolution has spurred a decision by Brownes Dairy to buy Casa, a boutique yoghurt and cheesemaker, in a move expected to help shore up the state's milk industry.

Ausdrill boss Ron Sayers and Barminco founder Peter Bartlett both proclaimed they were not guilty to tax fraud charges that could land them in jail for up to 10 years.

Fresh from consolidating its Tiwest mineral sands joint venture into one company, Tronox chairman and chief executive Tom Casey said the outlook for the US-listed company's WA operations was still strong and he expected the mineral sands market to rebound late this year or early next.

Hundreds of thousands of investors who bought the second instalment of the Telstra float – the so-called T2 shares – are on the verge of having their shares break even for the first time in more than a decade after the telco touched the $4 barrier yesterday.

Doray Minerals will proceed with its 80 per cent owned Andy Well gold project near Meekatharra, becoming one of only a handful of recent WA greenfield gold plays to commit to production.

Former Brockman Resources managing director Wayne Richards has quit Ironclad Mining only six months after accepting the top job at the South Australian iron ore hopeful.

THE AUSTRALIAN FINANCIAL REVIEW:

Page 1: One of China's top diplomats in Australia has called for the relationship between the two countries to move beyond resources to finance, infrastructure and agriculture.

The head of the group set up to represent Australia's leading manufacturers, Dick Warburton, has complained that the federal government has relegated the broad range of industry problems to the “too hard” basket.

Expectations of a further interest rate cuts by the Reserve Bank of Australia have been dramatically reduced amid hopes that global central banks stand ready to take aggressive action to revive economies in Europe and the United States.

One of Telstra's biggest competitors, Vodafone Hutchison Australia, has called for an urgent rethink of regulation in the converging telecommunications sector, claiming the carrier's fixed line dominance is stifling competition in mobiles and undermining structural reforms associated with the NBN.

Page 4: The union movement has been told it is “treading water” on its membership numbers ahead of the release of the Gillard government's review of workplace laws in coming days.

Page 6: Switzerland's central bank has begun including Australian dollars in its foreign exchange reserves, supporting the currency at elevated levels and adding to its credibility as a safe-haven investment.

Page 8: A tax scheme promoter who helped spark the $430 million Project Wickenby investigation into the tax affairs of Australia's rich and famous is emerging as a key player in criminal proceedings targeting two high-profile mining entrepreneurs in Perth.

Industry bodies have embraced delayed changes to trust laws aimed at making Australia a regional investment hub.

A Coalition government would support more investment by superannuation funds in infrastructure but would not direct funds to invest in new projects, despite $700 billion of infrastructure projects needed in the next generation.

Page 10: Perth's long-slumbering housing market, known for its spectacular boom-bust cycles, is firing up.

Construction of the $35 billion Woodside Petroleum-led Browse liquefied natural gas project in the Kimberley faces delays after conservationists lodged more than 50 appeals against the approval process.

The Federal Court has dismissed an attempt by the liquidators of failed agribusiness Great Southern to appoint a new litigation funder, potentially jeopardising the legal pursuit of the scheme's former directors and auditors.

Page 11: Mining magnate Gina Rinehart has been ordered to pay the legal costs of three of her children who are seeking to oust her as a trustee of the family trust.

Page 19: Worries about the high dollar, rising development costs and the 25 per cent fall in crude oil prices has seen the value of Australia's top 25 oil and gas upstream producers drop in the second quarter.

Iron ore junior Northern Iron has attracted a bid from a second suitor, with Swiss trading company Prominvest's $525 million takeover proposal just topping one put forward by India's Aditya Birla Gorup.

Page 45: Perth-based apartment builder Finbar will increase its presence in Western Australia's booming Pilbara region after being named the preferred developer of a $300 million project in Port Hedland.

THE AUSTRALIAN:

Page 1: Aspiring teachers will have to study maths and science at school, and meet minimum entry scores, to qualify for a limited number of places in education degrees at university under reforms proposed by the NSW government.

Infrastructure assets worth more than $40 billion will be available to Chinese government companies under NSW plans to lure investors, heightening the political row over foreign ownership in the wake of Tony Abbott’s warning last week against state enterprises.

Page 3: The nation’s largest childcare group is working with the Gillard government to offer late-night and weekend childcare in a move to revolutionise the nation’s childcare industry by providing around-the-clock care.

Gina Rinehart has been ordered to pay the legal costs of her three oldest children, following a court decision yesterday.

Page 4: States have been warned against using fiscal stimulus measures to prop up their regional economies during downturns due to the lag time with major projects, the size of tax cuts needed to spark growth and the influence of the federal government.

Australia needs to focus less on building powerful weapons to fight a future war with China and more on building a more cooperative Asia it can live in comfortably, a think tank has warned.

A leading insurer has warned that the carbon tax will produce significant price increases in the repair costs of gas in commercial cold storage and air-conditioning units and urged its agents to review clients’ coverage.

Page 5: Fair Work Australia president Iain Ross says publicity given to one-off strikes has created the perception there are more strikes than is the reality.

Page 7: Dairy farmers have secret plans to establish a rebel trading company to break the stranglehold over their fresh milk supply chain and prices by dominant processor Lion and the supermarkets.

Business: Almost $200 billion worth of planned resource investments are looking unlikely as surging costs driven by a high dollar and rising wages combine with a falling outlook to dash a second-stage investment boom.

Testra has pledged to stick with plans to reinvigorate its struggling Sensis directories business after ending a five-month search for a new boss.

Australian-listed junior Northern Iron is bucking the negative trend for iron ore stocks, with a bidding war under way for the miner.

The competition watchdog has asked Qantas for more information about its plans to coordinate its operations more closely with Jetstar-branded airlines in Asia.

THE SYDNEY MORNING HERALD:

Page 1: NSW Education Minister Adrian Piccoli is planning to make bold changes to the way school teachers are trained to lift learning outcomes. NSW police will give prosecutors evidence that senior members of the Catholic Church allegedly concealed the sexual abuse of young girls in the Hunter Valley. James Magnussen has to back up Tuesday night for the heat of the individual 100 metres freestyle after imploding in the relay.

Page 2: A 26-year-old man is in an induced coma after being allegedly king hit by a security guard at the Mean Fiddler hotel in Rouse Hill on Saturday.

Page 3: James Ashby, the former staffer of Speaker Peter Slipper, is reported to be under investigation by Queensland police over allegations he had sex with underage boys. Mobile phone contracts are getting more expensive as phone companies wind back a 2010 price war.

World: As the uprising against Bashar al-Assad's government grinds on, Syrians involved in the struggle say it's becoming more radicalised.

Business: James Packer's Crown and Malaysian billionaire KT Lim have considered a plan to carve up ownership of Echo Entertainment.

Sport: The Waratahs are in disarray following the sudden resignation of chairman Edwin Zemancheff.

THE DAILY TELEGRAPH:

Page 1: Swim team officials are racing to get James Magnussen back on target after he bombed in the men's 100m freestyle relay final. Australia's ambassador to the US, Kim Beazley, has told American political figures that Labor could be left with just 30 seats after the next federal election.

Page 2: The sale of the state's electricity generators could be delayed because of hopes Opposition Leader Tony Abbott's promise to scrap the carbon tax will free up an extra $1.5 billion. Filming has started in Sydney on the new Wolverine film. Locals in Port Douglas in far north Queensland have taken to social media to report seeing Prime Minister Julia Gillard on holiday.

Page 3: The world's top sprinter Black Caviar will not take part in this year's Victorian Spring Racing Carnival.

World: The Colorado cinema complex that was the scene of the Batman movie massacre had no uniformed security guards on duty, despite that being common at other cinemas.

Sport: Last placed NRL club Parramatta have stunned the Broncos with a 42-22 upset Victory in Brisbane.

THE AGE:

Page 1: Australia restores diplomatic ties with Fiji as a reward for democratic reforms by the island nation. James Magnussen needs to find answers for his relay flop in time for his 100 metres showdown. Australian nurse faces death penalty after kilogram of methamphetamine found in her car. Refugee says Indonesian crew of boat that brought them to Christmas Island were "very nice people".

Page 3: Low enrolment forces the proposed closure of Ringwood's Parkwood Secondary College at the end of the year. Almost 40 per cent of Melbourne cyclists admit to riding through red lights. The Olympics blamed for lack of interest in Melbourne house auctions. Fifteen-year-old boy alleges he had sex with James Ashby, the staffer who has accused Speaker Peter Slipper of sexual harassment. Commission of inquiry hears army lieutenant Marcus Case was ramp riding at the back of Chinook helicopter before it crashed and killed him.

World: Assad forces bombard Aleppo neighbourhoods defended by the Free Syrian Army.

Business: James Packer and Malaysian billionaire KT Lim consider carve-up of Echo Entertainment with each holding 25 per cent and the other 50 per cent to minority shareholders.

Sport: The Demons have Collingwood key forward Travis Cloke in their sights during the trade period.

THE HERALD SUN:

Page 1: Police raid Hells Angels HQ and arrest outlaw bikie boss. Race to fix Magnussen for another shot at gold.

Page 2: Moves to fine triple-zero hoax callers. Commuters get back $340,000 after being overcharged by the myki ticketing system.

Page 3: Black Caviar will be rested over the spring carnival. Melbourne Festival set to draw one million people.

World: About 200,000 civilians flee Aleppo amid full scale street war.

Business: New home sales plummet in Victoria after grant is axed for first-time buyers.

Sport: Geelong accept that Matthew Scarlett will retire this year ending his 15 year career.