Today's Business Headlines

Labor in despair after dire poll

Wayne Swan will declare today that the federal government is not dead but Labor MPs appear to have lost all hope of victory under Julia Gillard and are starting to doubt whether switching to Kevin Rudd will work. The Fin

No cuts to pay for $4b promises by Premier

Labor accused Colin Barnett of throwing fiscal caution to the wind after the Premier declared yesterday there would be no cuts to pay for the nearly $4 billion of new spending he has announced during the election campaign. The West

AWU push to expand coal-seam gas

The Australian Workers Union will today authorise Paul Howes to launch a national campaign to expand the use of coal-seam gas while reviving its push for West Australian-style gas reservation that would act as a ‘‘feed stock’’ for local manufacturers. The Aus

Stowe's hopes rise on sale

Ric Stowe has been dealt a potential lifeline in his on-again, off-again bid to reclaim his family's $50 million mansion on the outskirts of Perth, following the sale of his former power station in Collie for $1.2 billion. The West

Coles puts paying by mobile phone to the test

Wesfarmers' Coles supermarkets are testing mobile phones that could replace credit and loyalty cards at the checkout, a big step in retail payments that may give it an edge over rival Woolworths. The Fin

THE WEST AUSTRALIAN

Page 1: WA nurses are stepping up their industrial campaign by threatening to close down one in five public hospital beds.

Page 3: Average petrol prices will soon push above the $1.50 a litre mark, eating into the hip pockets of Perth motorists, as signs grow the world economy is on the mend.

Page 5: Australians are being urged to double the amount of exercise they do as part of revised dietary guidelines that also call for men to eat less red meat.

Page 6: Kevin Rudd supporters say a return of the former prime minister would deliver Labor a 10-point surge in the polls – enough to stave off a rampant Tony Abbott.

Page 9: All WA schools should ban spectators from drinking alcohol during sporting events that involve students, says Healthway chairwoman Rosanna Capolingua.

Page 10: Leading betting agency Sportsbet gives Labor no chance of winning the state election.

Page 11: Labor accused Colin Barnett of throwing fiscal caution to the wind after the Premier declared yesterday there would be no cuts to pay for the nearly $4 billion of new spending he has announced during the election campaign.

The Liberal Party has promised to open Wellington Dam in the state's south west to recreational activities as it intensifies its campaign in the marginal seat of Collie-Preston.

Labor leader Mark McGowan distanced himself yesterday from the federal government's jobs package despite spruiking a plan to boost investment through a marine industry-based technology park.

Page 24: Doctors are warning that WA public hospitals are unlikely to meet national performance targets from next year, despite being the best-performing state at present.

Business: Ric Stowe has been dealt a potential lifeline in his on-again, off-again bid to reclaim his family's $50 million mansion on the outskirts of Perth, following the sale of his former power station in Collie for $1.2 billion.

Perth's small business community is threatening to expand to New Zealand instead of Australia in a bid to avoid WA's payroll tax, which has emerged as the sector's number one gripe in the lead-up to the state election.

Woodside Petroleum's first foray into Cyprus has come up dry.

Shares in Clough hit an all-time high yesterday after the oil and gas focused engineering company exceeded its guidance with a 270 per cent increase in first-half profit.

Acquisitive car retailer Automotive Holdings Group still has plenty of room to grow before getting too big for manufacturers' liking, managing director Bronte Howson says.

Some of WA's biggest companies stand to lose millions of dollars a year under the possible shake-up of a scheme in which they are paid to cut their energy consumption during periods of peak demand.

Agriculture Minister Terry Redman has taken the extraordinary step of writing to Premier Colin Barnett and key ministers to warn them about the crisis engulfing WA's wheatbelt.

BlueScope Steel has accused Australian importers of attacking their own manufacturing industry by illegally importing cheap, dumped steel.

Boart Longyear has found a new chief executive and chairman but fears last year's revenue downturn will continue as clients turn the screws on contract negotiations this year.

Mining contractor MACA is tapping the market for about $50 million to fund growth after delivering a record half-year result.

PMI Gold shares slid again yesterday as uncertainty built up about whether the company would push ahead with a meeting tomorrow to approve its planned merger with Canada's Keegan Resources.

THE AUSTRALIAN FINANCIAL REVIEW

Page 1: Wayne Swan will declare today that the federal government is not dead but Labor MPs appear to have lost all hope of victory under Julia Gillard and are starting to doubt whether switching to Kevin Rudd will work.

Even manufacturers that support the federal government's $1 billion industry plan believe it will be less effective at generating jobs than cheaper energy or more flexible labour rules.

Page 3: Wesfarmers' Coles supermarkets are testing mobile phones that could replace credit and loyalty cards at the checkout, a big step in retail payments that may give it an edge over rival Woolworths.

Page 4: The government's discomfort over the mining tax is set to intensify with the Greens to announce a root-and-branch Senate inquiry into its failure to raise significant revenue.

The federal Coalition is laying claim to underdog status, despite the latest Nielsen poll putting Tony Abbott's team on track for a landslide victory at the September 14 election.

Page 6: Labour leader Paul Howes made an old-fashioned pitch to the union rank and file on Monday, blasting mining chiefs like former Rio Tinto head Tom Albanese and billionaires Gina Rinehart and Clive Palmer, who “cant even make a profit in the middle of a resources boom”.

The head of Australia's biggest industry superannuation fund has accused the big four banks of offering incentives to employers to encourage them to move their employees' super contributions out of industry funds.

Page 8: The innovation precincts at the centre of the government's $1 billion jobs plan are a waste of time and money, says a research strategist, despite the idea receiving broad support.

The nation's largest businesses want more clarity on the federal government's plan to raise $1 billion for its new manufacturing jobs strategy by slashing research and development concessions.

Page 11: A defiant West Australian Premier Colin Barnett has dismissed criticism from ratings agencies by vowing not to make any cuts to pay for billions of dollars of pre-election promises.

Page 17: A key dairying lobby group says farmers are hurting because of a high Australian dollar and soft export markets – not because Coles is selling milk at $1 a litre, backing Wesfarmers chief executive Richard Goyder.

Page 20: Rio Tinto chief executive Sam Walsh has flagged the possibility of combining the chief financial officer and head of strategy roles, amid growing speculation that long-serving finance director Guy Elliott will be replaced by an external candidate.

Drilling products and services group Boart Longyear has chosen a chief executive with big mining company experience as it seeks to lift profit margins and improve its ability to withstand industry downturns.

Page 24: Incoming Arrium chief executive Andrew Roberts has declared the strategic direction of the steelmaker and mining consumables group to be strong, implying there will be no major changes at the company when he steps into the role in the first quarter of the 2014 financial year.

THE AUSTRALIAN

Page 1: Disastrous new polling has shaken Julia Gillard’s support within Labor as a growing number of MPs become convinced the government needs a ‘‘circuit-breaker’’ to end the escalating instability and division.

The Australian Workers Union will today authorise Paul Howes to launch a national campaign to expand the use of coal-seam gas while reviving its push for West Australian-style gas reservation that would act as a ‘‘feed stock’’ for local manufacturers.

Reading, maths and science are at risk of being overemphasised under the Gillard government’s drive to lift education standards, the primary school principals association has warned.

Page 2: The peak national welfare organisation has urged the Gillard government to double the number of wage subsidies available for very long-term unemployed people to 20,000 places a year, after the scheme had to be frozen because of unexpectedly high take-up.

One of Malaysia’s largest palm oil plantation firms is quietly buying up farmland in Western Australia at a time when low prices and rising wages in Indonesia are squeezing profits for makers of the commodity, used to make margarine and biscuits.

Page 4: Wayne Swan will today accuse Tony Abbott of fostering an Australian version of America’s Tea Party movement, claiming the Coalition has imported the ‘‘very worst aggressive negativity’’ and economic ignorance from the extreme right of the Republican Party.

Page 5: Foreign multinationals will be largely spared from the Gillard government’s $1 billion cut to research and development tax breaks, despite Labor’s rhetoric about promoting Australian industry and cracking down on global firms that shift profits to countries with lower tax rates.

Julia Gillard’s $1 billion jobs package will actually save the budget bottom line $600 million over the next four years, sparking business complaints that the package lacks transparency.

Unions have welcomed a move by Gina Rinehart’s Roy Hill iron ore project to shelve plans to import 1700 foreign workers, but say they will continue to push the government to legally bind companies to hire Australians first.

Page 6: Business travellers have had a welcome start to the year with premium fares this month more than 17 per cent down on February last year thanks to a combination of increased competition and more capacity.

Page 8: A former coalminer and veteran MP will face off against a coalminer’s daughter who once worked as a media adviser to Treasurer Troy Buswell in the south-western marginal seat of Collie-Preston at the West Australian election.

Business: APN News & Media is on the hunt for a new chief executive and chairman, and facing a break-up after five directors resigned last night, effectively putting the future of the company in the hands of its major shareholder, Ireland’s Independent News & Media.

Vodafone Australia will make its largest single-year investment in its mobile network this year, possibly topping $1 billion, as the recovering telco moves to improve its mobile services and battered brand.

Almost nine years after a supposedly revitalised Pacific Brands was floated on the market, and four years after then chief Sue Morphet moved the bulk of its manufacturing offshore to slash costs, newly installed boss John Pollaers says the oft-promised recovery is still some way off.

Bluescope Steel is finally predicting an Australian steelmaking revival after low demand, high costs and a strong dollar forced it to halve steelmaking capacity, shut its export business and slash jobs during the past four years.

Boart Longyear’s outgoing chairman says it is on a two-year journey to return to financial health as it looks to extract further costs and improve profitability.

Engineering groups Clough and Forge Group have posted big improvements in earnings, with Clough’s heavy exposure to the oil and gas sector and Forge’s diversification helping both groups avoid the downturn that hit the mining services industry late last year.

Lend Lease has delivered a bumper profit for the first-half of fiscal 2013 despite a poor showing in its Australian construction arm and residential business weighing on the result.

The war for deposits among the banks may have peaked, with Bendigo and Adelaide Bank the latest to signal an abatement in pricing after widening margins in its housing book boosted interim cash profit to $170 million.

Gold prices have fallen to their lowest level in six months after regulatory filings showed that some of the world’s most prominent investors, including George Soros, pulled tens of millions of dollars out of the precious metal in the final quarter of last year.

THE SYDNEY MORNING HERALD
Page 1: Labor MPs say a showdown between Julia Gillard and Kevin Rudd is inevitable and could come as early as three weeks from now as MPs digest the latest, devastating poll for the government.

Page 3: A Sydney mother left with brain damage after an out of control car mounted the kerb, hitting her and her baby, is disappointed the driver did not go to jail.

Page 4: Greens leader Christine Milne will open a new line of attack on Labor's under-performing minerals resource rent tax, using an address to the National Press Club in Canberra to push for a full-scale Senate inquiry.

World: The main opposition bloc in Syria has accused Lebanon's Hezbollah movement of fighting alongside regime forces in Damascus.

Business: APN News and Media chairman Peter Hunt, chief executive Brett Chenoweth and three other directors have resigned, after a clash with major shareholders Independent News and Media and Allan Gray.

Sport: NRL clubs named in the Australian Crime Commission report are considering legal action amid revelations the allegations have cost Cronulla up to $2 million in sponsorship.

THE DAILY TELEGRAPH

Page 1: Land at Badgerys Creek owned by accused murderer Ron Medich and his brother Roy is set to be rezoned by the state government, potentially making the pair a fortune. The rezoning could also stop a second airport being built in the area.

Page 2: The father of a woman who was severely injured after a driver lost control of his car and smashed into her and her baby daughter, has slammed the leniency of the man's sentence.

Page 3: The amount of daily exercise needed to prevent Australians becoming overweight or obese should be doubled to an hour, according to the National Health and Medical Research Council.

World: Funeral set to be held for Reeva Steenkamp, the model girlfriend shot dead at paralympian Oscar Pistorius's house.

Business: The Australian Industry Group chief executive believes slashing research and development tax incentives for the nation's 20 biggest companies will hinder Australia's innovative future.

Sport: The Cronulla Sharks have lost a multimillion-dollar stadium naming rights sponsor after it was revealed the club was one of six clubs under investigation by the Australian Crime Commission.

THE AGE

Page 1: Residents abandoned their homes and traffic was gridlocked on the Hume Freeway as an out-of-control fire threatened northern Melbourne. Police database shows that young men of African origin are more than twice as likely to be searched and questioned by police than the rest of the population in parts of Melbourne. Faith in Prime Minister Julia Gillard's election strategy evaporates in the face of another crushing poll.

Page 2: State government plan to increase DNA testing will force police to conduct thousands of more tests a year. Call to investigate the abuse and mistreatment of Victorians in care.

Page 3: Elective surgery waiting list in Victoria could blow out by almost 50 per cent - or 20,000 patients - in the next four months due to budget cuts. Crane driver falls 10 storeys to his death at a Grocon construction site. Consumers turning to mobile phones and tablets to search online for goods. New national dietary guidelines urge Australians to choose the right kind of fats, cut down on sugary drinks and avoid adding salt to food.

World: Rebels say Hezbollah fighting alongside Assad forces in Damascus.

Business: APN News & Media rocked by resignations of chairman Peter Hunt, chief executive Brett Chenoweth and three other directors after clash with a major shareholder.

Sport: AFL club Melbourne pushes to have its $500,000 fine for tanking in 2009 cut in half.

THE HERALD SUN
Page 1: House and buildings destroyed in fire in Melbourne's north. Liquidators probe the assets of three directors of collapsed school Mowbray College. Police to launch a public inquiry into claims of racism after settling a court case with a group of African-Australian youths.

Page 2: In Anzac centennial year war memorials will be restored and grants for schools to encourage Anzac-themed projects.

Page 3: Mowbray College liquidators demand list of assets of the three school directors and to show where the money came from to purchase five properties. Premier Ted Baillieu says soccer thugs should be banned for life. Seven kings and queens from emergency services will lead Moomba parade.

World: Rebels attack key airports in northern Syria.

Business: Bluescope says job losses are over and it is likely to return to profit.

Sport: AFL to ban former Melbourne coach Dean Bailey and his football lieutenant Chris Connolly for several months for tanking.

THE ADELAIDE ADVERTISER

Page 1: The name of the teenager accused of murdering two young women in Quorn can now be revealed as Jose Omonte-Extrada.

Page 3: A bushfire that threatened Kangaroo Island's east coast town of Kingscote was contained last night, sparing properties in the fire's path.

World: Oscar Pistorius has formally cancelled his Australian tour in the face of charges of murdering his girlfriend on Valentine's Day.

Business: Bluescope Steel has accused Australian importers of attacking their own manufacturing industry by illegally importing cheap, dumped steel.

Sport: Adelaide assistant coach Dean Bailey and his Melbourne football lieutenant Chris Connolly will be forced to serve the full term of bans for tanking.