Burke sinks Apache plan – The West; ATO keeps Swan in the dark – The Fin; Rio axes costs as earnings tumble – The Aus; Argyle regains its sparkle – The West; PCCW eyes Leighton’s telco assets – The Fin.
Burke sinks Apache plan
BHP Billiton’s hunt for extra oil reserves for its .7 billion ($1.6 billion) Pyrenees project has been thrown into chaos, with the Federal Government mounting a rear-guard action to protect the near-by Ningaloo Reef. The West
ATO keeps Swan in dark on mining tax
The Gillard Government has produced advice from its own bureaucrats that it would be illegal to tell Treasurer Wayne Swan or Finance Minister Penny Wong how much revenue is being raised by the mineral resource rent tax. The Fin
Rio axes costs as earnings tumble:
Rio Tinto has flagged more cost-cutting at Australian coalmines amid depressed prices and high costs as it prepares to next month log its worst half-year profit in at least three years. The Aus
Argyle regains its sparkle:
Rio Tinto yesterday signalled that the $2.2 billion underground expansion of the Argyle diamond was nearing its end while carats produced was up, in a move that could spark renewed talk of a pending sale of the Kimberley operation. The West
PCCW eyes Leighton’s telco assets
Telstra’s former Asian joint venture partner, Richard Li’s PCCW, has emerged as a potential contender for Leighton Holding’s telecoms infrastructure assets, which analysts have valued at up to $1 billion. The Fin
THE WEST AUSTRALIAN:
Page 4: Opposition Leader Mark McGowan has outlined a grab bag of transport and education pledges as Labor tries to sandbag the seat of Albany for its MP Peter Watson.
Page 4: A re-elected Barnett Government would charge $20 a day for parking at train station multi-story carparks if Liberal candidates got their way Labor claimed yesterday.
Page 5: Limiting how many shops sell cigarettes, alcohol and even fast food are among Health Department options to reduce the amount of sick West Australians.
Page 10: Woodside is pressing ahead with its plans for a gas hub at James Price Point, with one of its contractors applying to build a massive camp just outside Broome to house almost 1000 transient workers.
Page 14: The landmark West Perth building that housed Julio’s restaurant – well known for its rich and famous clientele – is set for a change of hands, months after the iconic establishment closed its doors.
Page 19: Lloyd Rayney’s bid to push ahead with his multi-million dollar defamation case against the State has hit a hurdle pending the outcome of a potential appeal against his acquittal over the murder of his estranged wife Corryn.
Page 31: BHP Billiton’s hunt for extra oil reserves for its .7 billion ($1.6 billion) Pyrenees project has been thrown into chaos, with the Federal Government mounting a rear-guard action to protect the near-by Ningaloo Reef.
Atlantic, the owner of the troubled Windimurra vanadium operation in the Mid West, is contemplating claiming as much as $100 million in costs and damages from erstwhile project partner Mineral Resources.
MacPhersons Resources says the historic Nimbus silver mine, just 10km from Kalgoorlie’s Super Pit should be back in production by the first half of next year.
Page 32: Rio Tinto yesterday signalled that the $2.2 billion underground expansion of the Argyle diamond was nearing its end while carats produced was up, in a move that could spark renewed talk of a pending sale of the Kimberley operation.
Wesfarmers and its French partner Air Liquide have sanctioned construction of a new air separation unit (ASU) in Kwinana that will increase the joint venture’s oxygen and nitrogen capacity by almost 60 per cent.
Page 33: Sandfire Resources’ push for a lower royalty rate on the direct shipping ore from its DeGrussa project is unlikely to find a sympathetic ear in Mines Minister Norman Moore, who indicated yesterday he was likely to back his department in a $7 million royalty dispute with the copper mine.
Fortescue Metals Group chief executive Nev Power says the company is committed to trying to find a gas option for its Pilbara iron ore mines despite pulling out of a deal to take a stake in listed oil and gas junior Oil Basins.
Page 34: WA farmers will campaign for the power to veto hydraulic fracturing on agricultural land in the countdown to the State election.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: General Motors and Toyota could seek extra financial assistance from the federal government for their Australian manufacturing operations on top of an estimated $1 billion they have each received over the past decade.
The Gillard Government has produced advice from its own bureaucrats that it would be illegal to tell Treasurer Wayne Swan or Finance Minister Penny Wong how much revenue is being raised by the mineral resource rent tax.
Funds that invested in low-risk, high-yielding shares were the best performers in 2012, a year in which the median equities fund manager posted a hefty 20.3 per cent gain.
Telstra’s former Asian joint venture partner, Richard Li’s PCCW, has emerged as a potential contender for Leighton Holding’s telecoms infrastructure assets, which analysts have valued at up to $1 billion.
Rio Tinto faces a 40 per cent fall in full-year earnings to .32 billion next month despite reporting bumper iron ore production.
Page 4: Treasurer Wayne Swan has signalled in the strongest terms to date that he has deliberately built Labor’s budget strategy on Reserve Bank of Australia rate cuts to offset the economic drag caused by fiscal consolidation.
Page 5: Foreign Minister Bob Carr has refused to join the row between Papua New Guinea’s Prime Minister Peter O’Neill and BHP Billiton, saying a travel ban on former Ok Tedi chairman Ross Garnaut should be dealt with at the consular level.
Page 6: Corporate advisors say companies asking for trading halts to properly assess hoaxes and media speculation is a legitimate tactic and concern by major companies is misguided.
Page 9: Treasury Secretary Timothy Geithner has warned the US Government could run out of cash within a month as he and President Barak Obama put pressure on Congressional Republicans ahead of debt ceiling negotiations.
Page 13: Australian Infrastructure Fund will become the latest listed infrastructure play to be taken out by a pensions giant because of an undervalued share price, after shareholders backed the $2 billion sale of its airports assets to the Future Fund.
V8 Supercars chief executive David Malone rejects any idea that the new two-year television deal with the Seven Network has been a reverse for the motor sport, despite the TV broadcaster paying $10 million a year less up front.
Page 23: Energy stocks will see their share prices driven by project delays and cost over-runs rather than any drastic moves in the oil price this year, as liquefied natural gas projects remain in focus.
THE AUSTRALIAN:
Page 1: The NBN Co has been accused of focusing on short-term political goals after one of its most experienced and highly regarded executives was made redundant in a business restructure late last week.
THE federal government has angered the powerful oil and gas industry by stopping US giant Apache Energy from exploring near the World Heritage-listed Ningaloo Marine Park off Western Australia.
Page 2: Treasury could be forced to reveal its secret cost estimates for Greens proposals as the Freedom of Information Commissioner counters the department’s claim that the documents are subject to cabinet confidentiality.
Page 17: Rio Tinto has flagged more cost-cutting at Australian coalmines amid depressed prices and high costs as it prepares to next month log its worst half-year profit in at least three years.
The latest bidders for surf, skate and skiwear company Billabong plan to break up the business if they succeed with a $527 million takeover offer.
Page 18: Pura Vida Energy has confirmed its entry into the oil and gas exploration hotspot of Gabon, as the Perth-based junior is set to count a list of major international energy giants among its new neighbours.
Page 19: Woolworths and Wesfarmers are the only Australian companies among the top 250 global retailers, according to a new report from Deloitte.
Former ANZ senior executive Jenny Fagg says there is only one way to boost the number of senior women in the ranks of Australian management — just do it.
The chairman of the Australian Securities & Investments Commission has broken ranks with Treasurer Wayne Swan on reform of the bond market, saying that any move to establish a retail corporate bond market must wait until there is a deep and efficient wholesale market for them.
Page 20: Industrial output in the eurozone declined the most in three years in November, pulled lower by countries in the region’s south facing recession as they attempt to cut debt and deficits through austerity policies.
THE SYDNEY MORNING HERALD:
Page 1: Fracking is back on the table for western Sydney after the CSG company AGL reversed a pledge not to use the controversial drilling technique in the suburbs.
Page 2: Bushfire-affected residents have started returning to their homes in northern NSW to survey the destruction.
Page 3: Authorities have swooped on a courier accused of importing drugs with the alleged help of Sydney Airport customs officers.
World: President Barack Obama is set to unveil a package of proposals to combat gun violence later this week.
Business: Rio Tinto has defied the pricing tremors that struck the iron ore sector over the past year to produce, ship and sell record amounts of the bulk commodity in 2012.
Sport: Michael Jennings has signed for the Sydney Roosters in a $2 million deal.
THE DAILY TELEGRAPH:
Page 1: A senior Hells Angel bikie was gunned down in Sydney's southwest yesterday.
Page 2: Lance Armstrong has revealed to Oprah Winfrey he took performance enhancing drugs during his career.
Page 3: Alan Jones has all but declared war on NSW premier Barry O'Farrell over a perceived attack on free speech.
World: Barack Obama has pledged to vigorously pursue sensible gun control but questioned whether tough new laws could pass Congress.
Business: Mining company Rio Tinto has vowed to continue cutting costs despite ending 2012 in robust form.
Sport: Brad Fittler's successful switch from Penrith to the Roosters two decades ago has inspired Michael Jennings to follow the same path.
THE AGE:
Page 1: Drug courier arrested amid claims he was helped by corrupt Sydney Airport Customs officials. Serena Williams says she can recover after hurting her ankle during first round match. Lance Armstrong's interview with Oprah Winfrey will end more than a decade of doping allegations and vehement denials. Church will still be able to turn away gays and other "sinners" under a new rights bill.
Page 2: Head in the plastic bag may be that of dangerous criminal and colourful racing identity Stephen Cookson.
Page 3: Church member objects to planned renovation of the Monash a mosque claiming it may act as training ground for religious fanatics. Study finds fast food could be behind surging rates of allergies and asthma among children. Launceston beats Melbourne and Sydney is rated Australia's most family-friendly place. University lecturer to stand trial on child sex charges.
World: Obama to unveil proposals to combat gun violence.
Business: Fund manager AMP Capital singles four companies for excessive executive pay and backing a potentially board-spilling second strike vote against them.
Sport: Serena Williams vows to recover from ankle scare and be back on court on Thursday.
THE HERALD SUN:
Page 1: Daniel Andrews and his wife have not contacted a boy who was hospitalised after they slammed into him in on his pushbike, says father.
Page 2: Victoria's long-awaited corruption-busting body set to go into action within days. Expectant mothers in Melbourne's west could be forced to travel further to give birth after Werribee Mercy Hospital dumps plans to re-employ eight graduate midwives because of budget cuts.
Page 3: Crazy John brand to disappear with Vodafone to shut the brand started by entrepreneur John Ilhan. A brother's bone marrow donation proves life-saving in transplant at Royal Children's Hospital.
World: 30,000 displaced by fighting in Mali.
Business: Wesfarmers joins Woolworths in the world's top 20 retailers.
Sport: Bookmaker Alan Eskander says AFL has to adopt a draft lottery system to combat tanking.
THE ADELAIDE ADVERTISER:
Page 1: Premier Jay Weatherill has asserted authority over Labor's factional bosses - declaring he alone will determine the shape of a new cabinet.
Page 3: Adelaide has been rated Australia's safest city in wide-ranging research that puts the country's 30 largest cities under the microscope.
World: US President Barack Obama has warned Republican legislators against using the debt ceiling as a "bargaining chip", saying a failure to raise the borrowing limit would send markets into a tailspin.
Business: Rio Tinto has signalled that predictions of falls in iron ore prices hold no fear for it as it posts record annual production and says its massive expansion plans are on track.
Sport: Serena Williams's chances of a sixth Australian Open title will become clearer when she climbs out of bed this morning.
