Today's Business Headlines

ALP seeks tighter China ties

Labor is pursuing a dramatic upgrading of Australia’s relationship with China that would put diplomatic ties between Canberra and Beijing on a similar footing to relations with the US, Japan and Indonesia. The Aus

MUA fires shot at Chevron

WA's simmering waterfront industrial tension threatens to spill over to Chevron's $29 billion Wheatstone project, with unions alarmed about a new contract awarded to a Swiss-based offshore pipe layer employing foreign workers. The West

Iron ore set for rebound: Arrium boss

Arrium chief executive Geoff Plummer has defended the company's rejection of a $1 billion Korea-backed takeover bid, arguing a doubling of production at its iron ore mines in South Australia will provide a buffer against falling commodity prices and the company's $2 billion debt. The Fin

New Verve court bid on Varanus damages

The three-year, $40 million legal battle between state-owned Verve Energy and three of the world's biggest oil companies, plus resource giants Woodside and BHP Billiton, is set to flare again today. The West

States slam plan to raise payroll taxes

State treasurers are not open to increasing payroll taxes to fill budget deficits, a plan proposed by federal Treasury Secretary Martin Parkinson to help resolve the states' lack of taxing power. The Fin

THE WEST AUSTRALIAN:

Page 1: A freeze on public sector jobs will make it impossible for the Barnett government to honour its election commitment to employ an extra 350 police officers and 150 auxiliary officers over five years, according to the WA Police Union and the state opposition.Page 3: A surge in online shopping has sparked fresh calls for the GST to be applied to transactions under $1000 in a bid to even the playing field for struggling bricks-and-mortar retailers.

Page 6: The Macquarie Radio Network has suspended all advertising on Alan Jones' Sydney breakfast show after an “unprecedented focus: on the controversial announcer through mainstream and social media.

Page 7: WA Liberals will cross the floor or abstain to ensure passage in Parliament of Labor's plans to deregulate the wheat industry, former Liberal MP Wilson Tuckey says.

Page 10: The retail face of Beaufort Street is changing, with a growing number of small businesses closing their doors or moving because of high rents and falling foot traffic.

Page 12: Tony Abbott has sought to blame Julia Gillard for the debate over his standing with women and the public defence of him by wife Margie.

Page 13: A local council has warned the state government that a plan to force “out of boundary” students to change primary schools could affect their learning.

Business: WA's simmering waterfront industrial tension threatens to spill over to Chevron's $29 billion Wheatstone project, with unions alarmed about a new contract awarded to a Swiss-based offshore pipe layer employing foreign workers.

The three-year $40 million legal battle between state-owned Verve Energy and three of the world's biggest oil companies, plus resource giants Woodside and BHP Billiton, is set to flare again today.

Corporate jet operators say looming changes to alleviate congestion at Perth Airport will hit their business by forcing them to wait up to 24 hours for a takeoff window, wiping out the advantages provided by the nimble aircraft.

Linney's will be among a dozen of the world's leading jewellers to exhibit at Kensington Palace tomorrow as part of a celebration for the Queen's diamond jubilee.

THE AUSTRALIAN FINANCIAL REVIEW:

Page 1: Arrium chief executive Geoff Plummer has defended the company's rejection of a $1 billion Korea-backed takeover bid, arguing a doubling of production at its iron ore mines in South Australia will provide a buffer against falling commodity prices and the company's $2 billion debt.

Macquarie Radio Network has taken the unprecedented step of suspending advertising on its top-rating Alan Jones breakfast show in response to the social media backlash faced by its advertisers.

Page 3: State treasurers are not open to increasing payroll taxes to fill budget deficits, a plan proposed by federal Treasury Secretary Martin Parkinson to help resolve the states' lack of taxing power.

Reserve Bank of Australia governor Glenn Stevens has been tipped as a surprise contender to become the new Bank of England head.

Page 4: The federal government is expected to respond this week to Treasury's critical assessment of takeover laws – in particular creeping provisions thrown into the spotlight by magnates Gina Rinehart and James Packer's moves to win board seats at Fairfax Media and Echo Entertainment.

Page 5: The federal government's policy of urging states and territories to buy Australian-made cars is being increasingly ignored and is a major cause of their falling sales, an industry analysis shows.

Page 9: Australian companies have been urged to focus more on joint projects with Japanese companies operating in other parts of Asia, to extend a business relationship built on the iron ore trade that is entering its 50^th year.

Page 13: Russian aluminium giant Rusal is poised to shelve a planned $400 million gas-fired power plant at its Queensland Alumina refinery as an export boom chokes lower-priced supplies of gas.

Ruralco's biggest shareholder has thrown its support behind the company's push for a $500 million merger with Elders.

Page 15: Leighton Contractors will defend itself in the Supreme Court today against allegations that it withheld payments of $5.7 million from a sub-contractor working on an upgrade of Ausgrid's NSW electricity network.

THE AUSTRALIAN:

Page 1: Labor is pursuing a dramatic upgrading of Australia’s relationship with China that would put diplomatic ties between Canberra and Beijing on a similar footing to relations with the US, Japan and Indonesia.

The Australian Workers Union admitted it ‘‘didn’t want the carbon tax’’ in a letter sent to its members the day after the scheme started, despite publicly endorsing it as long as not one job was lost.

Media outlets face new ownership restrictions, a public interest test and the introduction of laws protecting the privacy of individuals under industry reforms being finalised by the government.

The Northern Territory government will seek an end to waste and mismanagement of money spent in indigenous communities by conducting audits to identify where money is ‘‘leaking’’, and why it is failing to improve the lives of the nation’s most impoverished people.

Page 2: The Macquarie Radio Network yesterday took the unprecedented step of suspending all advertising on Alan Jones’s 2GB breakfast show following a mass exodus of advertisers.

Thousands of tonnes of waste are being diverted from large and efficient landfill sites because of the Gillard government’s carbon tax, which is leading to more harmful emissions entering the atmosphere.

Page 3: The Gillard government will this week seek to rush through changes to push 100,000 single mothers off parenting payments and on to the dole, despite two inquiries recommending the plan be delayed, with Labor backbenchers angry they have failed to win any concessions despite repeated complaints.

Page 4: Reserve Bank governor Glenn Stevens will today step up his campaign to prove there was no cover-up in his bank’s handling of the banknote bribery scandal by providing a parliamentary committee with confidential bank minutes, audits and legal reports to explain its behaviour.

Reserve Bank governor Glenn Stevens has emerged as a long-odds bet to become the new governor of the Bank of England.

The father of Australia’s polymer banknote industry claims the Reserve Bank could never create a sustainable business in exporting plastic money because it was competing in an industry rife with corruption.

Page 7: Climate change should not overshadow important environmental issues such as managing ecosystems, protecting biodiversity and sustainable development, World Wildlife Fund global president Yolanda Kakabadse said yesterday.

Business: The key to Australia’s growth after the China boom lies in joining Japan’s wave of expansion in fast-growing emerging markets, according to key Japanese and Australian business leaders.

Billabong investors face a nervous wait to see whether suitor TPG will abandon or revise lower its potential $695 million bid for the retailer, with analysts warning of a further sharp selloff in its shares if the private equity firm walks away.

A powerful Senate committee that has been examining the impact of the financial crisis on banking could accept late submissions on the collapse of Tasmanian timber group Gunns.

A senior mining industry figure has expressed reservations about governments prioritising resources projects amid a shortage of global capital.

A ‘‘relentless’’ increase in the cost of funding has crimped the ability of the nation’s big banks to pass on cuts to consumers, ANZ’s Australian chief, Phil Chronican, says.

Tin International will today kick off a global roadshow ahead of a potential float to get up and running its deposits in Germany, a ‘‘can-do’’ country it says is 30 per cent cheaper than Australia for mining projects.

A court case starting in Brisbane today against Australia’s biggest travel retailer, Flight Centre, could have an important impact on the sector, with the potential to hit other industries.

The US jobless rate fell sharply last month to its lowest level since January 2009, suggesting northern summer job growth was stronger than initially thought.

THE SYDNEY MORNING HERALD:

Page 1: Sydney commuters face years of pain under Infrastructure NSW plans to shut key train services for months to avoid building a second rail crossing.

Page 2: A chemicals firm that announced it was shelving plans for a $1 billion expansion because of the carbon tax has done a U-turn and will push ahead with the plans.

Page 3: Personal attacks are set to intensify with the government unperturbed by Margie Abbott's defence of her husband over claims of misogyny.

Page 4: The Bali bombings led to a swift expansion of Australia's security regime.

World: About 50 soldiers and rebels have been killed in clashes near Syria's northern border as Turkey hit back against what it said was new mortar fire from inside Syria.

Business: An analysis of accounts for Australia's big three car makers has found that profits were once again eroded by hefty royal payments to parent companies overseas.

Sport: A jubilant Jamie Whincup has revealed how a sledge from Dick Johnson spurred him to victory at Bathurst.

THE DAILY TELEGRAPH:

Page 1: 2GB pulls ads from Alan Jones radio show to shield backers from hate campaign.

Page 2: "Bullying" crusade turns off the ads on Alan Jones show.

Page 3: Children become pawns in an online campaign against radio host Alan Jones as the Schools Spectacular event he supports is targeted.

World: A man shot dead by French police in a crackdown on terror suspects was linked to an attack on a Jewish store last month by a fingerprint on a grenade fragment.

Business: Drop in Australian sugar intake doesn't spell doom for cane farms, industry says.

Sport: Jamie Whincup has become a Bathurst legend after claiming his fourth Mount Panorama title.

THE ADELAIDE ADVERTISER:

Page 1: More than six million Australians would have been better off stuffing cash under a mattress than putting it in their employers' default superannuation option over the past five financial years.

Page 3: An anti-terrorism strategy has resulted in more than 1400 hospital, airport, and sea port workers with violent criminal convictions being banned from work areas which contain potential ingredients for "dirty bombs".

World: Abu Hamza al-Masri, a radical Muslim cleric with alleged ties to al-Qaida, and four other terrorist suspects appeared before US judges yesterday just hours after they lost a long battle against their extradition in British courts.

Business: Franchisors say they are changing their growth plans in response to increasing state-based regulations.

Sport: Crows chairman Rob Chapman has charged his recruiting staff to ignore a handshake agreement with Kurt Tippett to strike the "best commercial deal" for the defecting forward in AFL trade talks.

THE CANBERRA TIMES:

Page 1: ACT Labor says it will introduce tougher proceeds of crime laws if re-elected.

Page 2: ACT government accuses Liberals of "lying" in election attack ads.

Page 3: Aged-care shortage adding to access woes.

World: Turkey warns Syria it would not shy away from war if provoked.

Business: Australian banks are seeing a "relentless" rise in costs, ANZ's Australian boss Phil Chronican says.

Sport: Holden's Jamie Whincup claims fourth Bathurst 1000 crown by narrow margin.