Todays Business Headlines

Swan hangs on global risks

Wayne Swan has warned it may not be clear until early next year whether the two “misfiring” engines of global growth – Europe and the US – are back on track as Labor attempts to deliver its promised budget surplus. The Fin

Miner tried to fudge study: anthropologist

An anthropologist engaged by Fortescue Metals Group says his services were discontinued after he refused a demand to amend sections of his report discussing indigenous heritage where the company wanted to mine. The Aus

Roy Hill urges politicians to think before they speak

One of Gina Rinehart's senior executives has warned that commentary on Australia's mining industry by political leaders could impact on the ability of local companies to attract finance from international players. The West

AACo puts hand up to grow cotton on Ord

Australia's oldest company and biggest landholder, Australian Agricultural Company, has made a bold play to grow cotton on the entire 15,000ha of land to be leased under the WA government's Ord River expansion next month. The West

Nuclear thaw warms Indian relations

Two of the most prominent Australian business leaders with interests in India have forecast that the federal government's change of approach to uranium exports will open doors in India. The Fin

 

THE WEST AUSTRALIAN:

Page 3: Perth drivers are so bad at merging and so confused about how to drive through a roundabout that the Office of Road Safety has posted “how to” videos online.

Page 6: The Reserve Bank is gearing up for more interest rate cuts even as it argues the mining boom is far from over.

Page 9: Australia's top rating TV network, Seven, looks set for another big year, unveiling in Sydney last night a host of new shows and the return of popular comedy, drama, reality, lifestyle, sport and current affairs programs.

Page 11: Great white sharks should not be culled, according to a poll by thewest.com.au.

Page 12: A Canning Vale man makes an average of 70 complaints a day in his crusade against noisy planes.

Page 14: High profile independents are targeting the Barnett government's heartland amid growing disquiet in the golden triangle.

Page 19: WA Police will still need to make cuts and find savings totalling up to $28 million despite a state government backdown on cutting police spending.

Page 26: The head of WA's leading farming lobby has accused the Nationals of jumping the gun on their promise to attract billions of dollars in Asian investment to the states agricultural sector.

Page 28: Thousands of struggling Australian families face a daily battle to put food on the table, a report reveals.

Business: Australia's oldest company and biggest landholder, Australian Agricultural Company, has made a bold play to grow cotton on the entire 15,000ha of land to be leased under the WA government's Ord River expansion next month.

ASG Group took the unusual step yesterday of putting its shares in a trading halt after being told changes to its dividend timetable were made too late.

One of Gina Rinehart's senior executives has warned that commentary on Australia's mining industry by political leaders could impact on the ability of local companies to attract finance from international players.

Fortescue Metals Group's margins were crunched in the September quarter, with the company yesterday revealing the precipitous falls in the iron ore price in August coincided with a jump in its Pilbara operating costs.

The first costing battle of the shadow March election campaign has erupted, with Treasurer Troy Buswell claiming Labor's policy to cut power bills by 7 per cent has a $200 million funding hole.

Wesfarmers is looking at freeing up hundreds of millions of dollars by bundling together some of its Coles shopping centres into a co-owned property investment portfolio.

Manufacturing, chemical and plastic companies are demanding a WA-style restriction on LNG exports to prevent spiralling gas prices and the collapse of local industries.

Paladin Energy insists uranium demand will bounce back by the end of the decade and the current malaise will lead to a supply crisis.

Construction and development company Diploma Group is selling the site of its proposed $50 million iSpire apartment project because of what industry sources claim was a disappointing number of apartment sales and problems getting finance for the Adelaide Terrace development.

One of the South West's key hotels, the 4.5-star Mantra Bunbury Hotel, part the much-hyped Bunbury Silos redevelopment, has been sold by liquidators for $11.5 million, far short of the expected sale price of $20 million, just four years after it was opened.

 

THE AUSTRALIAN FINANCIAL REVIEW:

Page 1: Wayne Swan has warned it may not be clear until early next year whether the two “misfiring” engines of global growth – Europe and the US – are back on track as Labor attempts to deliver its promised budget surplus.

Nine Entertainment Co's lenders are close to a deal on its $3.3 billion debt that would carve up the ownership of Australia's famous media company between two United States hedge funds and Wall Street giant Goldman Sachs.

Telstra chairman Catherine Livingstone has signalled the board's priority is to increase the 28c-a-share dividend despite the threat to lucrative national broadband network payments from a potential change of government.

Page 4: Two of the most prominent Australian business leaders with interests in India have forecast that the federal government's change of approach to uranium exports will open doors in India.

 

Page 5: Eastern Australia's focus on producing natural gas for export instead of domestic use risks digging a $22 billion hole in annual gross domestic product and sending some users to the wall due to rising costs, the Australian Industry Group says.

 

Page 11: The Reserve Bank of Australia is closely monitoring fallout on the federal budget from lower commodity prices amid speculation any tax shortfalls would prompt Treasurer Wayne Swan to make deeper spending cuts.

 

Page 12: Prime Minister Julia Gillard accused Opposition Leader Tony Abbott of political cowardice for failing to raise his controversial tow-back policy with Indonesian President Susilo Bambang Yudhoyone during a meeting in Jakarta.

 

Page 19: Woolworths is headed for another stoush with the competition regulator over plans to acquire a full-scale supermarket and liquor licence from high-profile IGA retailer John Krnc.

 

Page 21: Rio Tinto's copper division has come under scrutiny by investors following another disappointing production result, and threats by the Mongolian government to renegotiate an investment agreement over the $US6.2 billion Oyu Tolgoi project.

 

Fortescue Metals Group has not ruled out a major asset sale, such as a minority stake in its Chichester operations, as it looks to fast-track first production from its stalled Kings project.

 

THE AUSTRALIAN:

 

Page 1: Tony Abbott raised the Coalition’s border-protection policies in his face-to-face talks with Indonesian President Susilo Bambang Yudhoyono, including the interception of peoplesmuggler boats.

 

Income inequality has risen since 2009, according to new figures that puncture Wayne Swan’s key claim that the Gillard government has reduced the divide between the rich and poor.

 

Nicola Roxon moved to ‘‘strike out’’ James Ashby’s claims of sexual harassment against the former Speaker Peter Slipper, as well as seeking to have the case declared an ‘‘abuse of process’’, after being briefed on the lurid sex texts and seeking to use them to sack the government employee.

 

Page 2: Julia Gillard will today declare India is ‘‘one of the handful of countries which matter most to Australia’’ ahead of key talks with the Indian cabinet.

 

Fair Work Australia is considering issuing subpoenas to determine the identity of a mystery individual on the NSW central coast who independent MP Craig Thomson rang on some of his alleged nights of union-paid passion with prostitutes away from home.

 

The federal government’s goal to return the budget to surplus is an ongoing task that goes beyond finding further savings in the mid-year budget review, the head of the Department of Finance says.

 

Page 3: The global appetite for Australian cheese is growing, and industry experts say our dairy farmers are struggling to meet export demands.

 

Page 4: The Reserve Bank appears poised for further interest rate cuts, as sputtering global growth and falling commodity prices undermine its formerly optimistic outlook for the economy.

 

Page 6: An anthropologist engaged by Fortescue Metals Group says his services were discontinued after he refused a demand to amend sections of his report discussing indigenous heritage where the company wanted to mine.

 

Tony Abbott’s local government spokesman Barnaby Joyce has revealed that there is a split in his party over constitutional recognition of local government, as there is in the Labor cabinet, and says the chance for a referendum next year is finished.

 

Page 7: Thousands of unfair dismissal cases have been settled with money being paid to sacked workers, reigniting employer claims that companies are being forced to pay ‘‘go away’’ money even where they believe a sacking is justified.

 

While the Nine Network is yet to learn who its next master will be and Ten is wondering where its next hit show will come from, advertisers were left with little doubt that next year will be another good one for Seven.

 

Business: A deal to save the Nine Entertainment group from receivership appeared in sight last night with lenders moving closer to an agreement on a debt-for-equity swap after a day of intense negotiations.

 

Rio Tinto’s vast and profitable iron ore operations in Western Australia continue to beat production expectations as they expand amid growing uncertainty about the sustainability of Chinese steel demand growth and iron ore prices.

 

Telstra has flagged a possible return to dividend growth for its 1.4 million shareholders next financial year after holding its annual payout steady at 28c a share since 2006.

 

Andrew Forrest’s Fortescue Metals Group has emerged from the most turbulent quarter in its history with its signature bullish attitude restored.

 

Gina Rinehart’s Roy Hill project is still on track to meet a 2015 production deadline despite funding talks for the $9.5 billion project taking longer than expected.

 

Qatar, whose sovereign wealth fund is the second-largest shareholder in mining giant Xstrata, is taking a favourable view of the company’s planned merger with Glencore, increasing the chances the much delayed deal will proceed.

 

Business confidence among Australia’s mid-market companies has plunged, dragged down by concerns about the impact of an economic slowdown in Asia, the strength of the mining boom in Western Australia and unease about the European debt crisis.

 

THE SYDNEY MORNING HERALD:

Page 1: There has been an alarming increase in the number of HIV cases. Sachin Tendulkar has been given a gong. ICAC witnesses have been granted free legal help.

Page 2: The Scout movement is facing questions over its handling of child abuse allegations.

Page 3: The head of English at one of Sydney's most prestigious schools says this week's HSC exam was too tough.

World: Clashes between Syrian troops and rebel fighters have damaged a landmark mosque.

Business: Nine Entertainment's future remains under a cloud.

Sport: Western Sydney say that are not afraid of Alessandro Del Piero's Sydney FC.

 

THE DAILY TELEGRAPH:

Page 1: A Proud School pilot scheme is being introduced in schools to support diversity and stamp out "heterosexist" behaviour. An 11th-hour deal is struck to save the Nine network.

Page 2: New curriculum content is being introduced for English, maths, science and history.

Page 3: Advertising resumes on Alan Jones' radio show, sparking action from an online campaign.

World: Former pro wrestler Hulk Hogan is suing a DJ, the DJ's ex wife and a website over a sex tape.

Business: Telstra to test shareholders' faith by proposing to lift dividend payouts.

Sport: Knights players have demanded overdue payments and NRL clubs have been told $8 million in funding would be delayed.

 

THE AGE:

Page 1: Slater and Gordon says a file containing Julia Gillard's role in helping set up a union slush fund from which her former boyfriend stole hundreds of thousands of dollars has vanished. Mary is an academic ghost writer who gets paid to complete assignments for other students - that is, she helps them cheat at their exams. Julia Gillard says Tony Abbott lacks the guts to be a leader after he failed to raise his controversial tow-back policy with Indonesian President Yudhoyono. There are doubts that Opposition Leader Tony Abbott ever spoke with Infrastructure Australia about the controversial east-west tunnel in Melbourne.

Page 2: Two paramedics are linked to the theft of powerful painkiller fentanyl from Victorian ambulances.

Page 3: Asian-based property developers funding the lord mayor tilt by Sotheby Australia's chief executive Gary Singer. Survival rates improving for children with cancer with the number of young patients still alive five years after diagnosis at a record 82 per cent. Vaccine for babies recalled in Australia over concerns about bacteria found in the Belgian factory where it was made. The dating scene is dead say Melburnians who prefer to go to a bar than go on a romantic date. Global survey finds Australian women are the most economically empowered in the world.

World: Fighting in Syria damages a landmark 13th century mosque in Aleppo.

Business: David Gyngell will remain boss at Nine even if the media company falls into administration.

Sport: Sydney Swans chairman Richard Colless says the disparity between the rich and poor clubs in Victoria is a ticking time bomb.

THE HERALD SUN:

Page 1: Vigilante teams of private security guards have been formed to combat violent attacks against cabbies. Damien Oliver determined to win the Thousand Guineas after being dumped from two major Spring carnival rides.

Page 2: Lord Mayor Robert Doyle promises $200,000 to turn a city "bomb site" into an oasis market garden. Medibank Private's $391 million in special dividends will be used by the Gillard government to help balance its budget. Two men arrested after alleged theft of of pain-killing drug fentanyl from Ambulance Victoria.

Page 3: Korean singer Psy tried out a kangaroo move before settling on his horse-riding move for his hit Gangnam Style. Telstra won't boost dividends until at least next year, despite its $3.4 billion profit.

World: Mitt Romney has wiped out the early lead of President Barack Obama as the race for the White House tightens.

Business: Telstra puts its shareholders on hold saying it won't be increasing dividends until at least late next year.

Sport: Bulldogs president David Smorgon agrees to hand power to former club president Peter Gordon after a 17 year reign.

THE CANBERRA TIMES:

Page 1: Health will be the dominant issue for Canberrans voting in Saturday's election, polling suggests. The University of Canberra is set to announce a partnership with Holmesglen Institute in Victoria to become the University of Canberra Melbourne next year. Strong winds in the ACT have brought down trees and left homes without power.

Page 2: Federal MP Craig Thomson insists he is innocent and expects civil charges brought against him by the workplace watchdog to be thrown out.

Page 3: The ACT government is starting to evict its more wealthy public housing tenants, including one family earning an annual pay packet of $230,000.

World: The US has told Syria's neighbours to keep a lookout in the skies, after Turkey intercepted a plane carrying military equipment.

Business: A stakeholders meeting has failed to shed any light on Nine Entertainment's imminent future.

Sport: Canberra will debut its first twilight AFL game next year between Greater Western Sydney and St Kilda.

THE ADELAIDE ADVERTISER:

Page 1: Half of Australia's 10-year-olds are already dieting - and boys are watching their weight more than girls, doctors warn.

Page 3: More than 30 community groups will be kicked out of The Parks Community Centre within months, and their futures are now uncertain.

World: The Pakistani schoolgirl shot in the head by the Taliban for demanding education for women is expected to make a "good recovery".

Business: The Nine Television network looks set to be saved from oblivion, after an eleventh hour deal was brokered allowing the station to stay alive.

Sport: Australia's Olympic Committee president John Coates wants Australia's anti-doping policies to be brought into line with leading nations.