19/03/2013 - 06:52

Today's Business Headlines

19/03/2013 - 06:52

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Labor's media plan doomed – The Fin; WA finance, energy merge – The West; Employers lash union 'joy rides' – The Aus; Greens rely on Barnett goodwill for researcher – The West; Farmers casualties of milk price war – The West

Today's Business Headlines

Labor's media plan doomed

Julia Gillard's leadership is under pressure and her media changes in danger of collapsing after independent MP Rob Oakeshott joined Craig Thomson in opposing the entire package and Bob Katter stated he would not support key elements, including a government appointed regulator. The Fin

WA finance, energy merge

The Finance and Energy portfolios are set to be united as early as today under new Minister Mike Nahan, with major implications for the electricity bills of WA's businesses and the private power sector. The West

Employers lash union 'joy rides'

Employers have criticised new legal obligations to provide union officials with transport and accommodation to visit workers on offshore oil and gas platforms, claiming that companies will not recoup the costs resulting from the changes to federal workplace laws. The Aus

Greens rely on Barnett goodwill for researcher

Colin Barnett has refused to guarantee the WA Greens discretionary resourcing after their disappointing election result, prompting party elder Giz Watson to appeal for generosity. The West

Farmers casualties of milk price war

WA is experiencing its biggest shortfall in milk supply for 50 years as the three big processors battle to lock struggling dairy farmers into long-term contracts. The West

 

TOP RESOURCES HEADLINES

Costs take shine off earnings for WA gold

The cost challenges facing WA-focused small to mid-tire gold plays were rammed home during the first half of this financial year, with eight established producers reporting a combined profit of just $2 million. The West

Employers lash union 'joy rides'

Employers have criticised new legal obligations to provide union officials with transport and accommodation to visit workers on offshore oil and gas platforms, claiming that companies will not recoup the costs resulting from the changes to federal workplace laws. The Aus

No bubbles for Cauldron as Energia rebuffs bid

Tony Sage-backed Cauldron Energy's proposed takeover of uranium hopeful Energia Mineralsmay be scuttled before takeoff, with Energia's major shareholder indicating the offer “substantially undervalues” the uranium company. The West

 

TOP POLITICAL HEADLINES

Labor's media plan doomed

Julia Gillard's leadership is under pressure and her media changes in danger of collapsing after independent MP Rob Oakeshott joined Craig Thomson in opposing the entire package and Bob Katter stated he would not support key elements, including a government appointed regulator. The Fin

Greens rely on Barnett goodwill for researcher

Colin Barnett has refused to guarantee the WA Greens discretionary resourcing after their disappointing election result, prompting party elder Giz Watson to appeal for generosity. The West

WA finance, energy merge

The Finance and Energy portfolios are set to be united as early as today under new Minister Mike Nahan, with major implications for the electricity bills of WA's businesses and the private power sector. The West

 

THE WEST AUSTRALIAN

Page 1: Australia's top newspaper and television bosses have made an unprecedented united call on the Gillard government to dump its planned overhaul of media laws.

Page 4: Colin Barnett has refused to guarantee the WA Greens discretionary resourcing after their disappointing election result, prompting party elder Giz Watson to appeal for generosity.

Page 5: Last year's dry winter has taken a heavy toll on the South West's rivers, with figures showing many posted among their lowest stream flows on record.

Page 6: Cricket fans across WA could be starved of free-to-air broadcasts of the national team if a key part of Labor's media reforms win support, a parliamentary inquiry has been told.

News Ltd boss Kim Williams has defended his company's reputation during a grilling from senators about Labor's media reforms.

Page 7: Media boss Kerry Stokes has blasted Julia Gillard's proposed media changes, asserting that Seven West Media and Fairfax were “road kill” in the federal government's battle with the Rupert Murdoch empire.

Page 10: West Australians are buying 101 SUVs a day, new figures show, with hopes petrol prices will soon fall and make it even cheaper to drive the new cars.

Page 17: WA's Health Department is facing calls to change a policy that allows clinical waste from hospitals, vets and tattoo parlours to be dumped in regional landfills amid fears it could be a health risk.

Business: The Finance and Energy portfolios are set to be united as early as today under new Minister Mike Nahan, with major implications for the electricity bills of WA's businesses and the private power sector.

WA is experiencing its biggest shortfall in milk supply for 50 years as the three big processors battle to lock struggling dairy farmers into long-term contracts.

Construction of a WA-designed wave-powered electricity station and integrated desalination plant off the Navy's Garden Island base will begin next month, after a successful capital raising by developer Carnegie Wave Energy.

The cost challenges facing WA-focused small to mid-tire gold plays were rammed home during the first half of this financial year, with eight established producers reporting a combined profit of just $2 million.

Tony Sage-backed Cauldron Energy's proposed takeover of uranium hopeful Energia Minerals may be scuttled before takeoff, with Energia's major shareholder indicating the offer “substantially undervalues” the uranium company.

Nine Entertainment chief executive David Gyngell has come under fire for claiming a merger of his company with regional broadcaster Southern Cross Media would not lead to the loss of jobs and news services, particularly in the bush.

Most of the money may be going into mining, but more than half the Chinese companies investing in Australia are buying into manufacturing, a new study has found.

Papillon Resources is in the throes of arranging a $50 million capital raising to help it advance development of its Fekola gold project in West Africa.

 

THE AUSTRALIAN FINANCIAL REVIEW

Page 1: Julia Gillard's leadership is under pressure and her media changes in danger of collapsing after independent MP Rob Oakeshott joined Craig Thomson in opposing the entire package and Bob Katter stated he would not support key elements, including a government appointed regulator.

The federal government has set aside an estimated $300 million to increase childcare workers' salaries on the condition employers pay them standardised rates and conditions, potentially increasing union influence over the industry.

NBN Co, the company building the national broadband network, may reach fewer than half the 286,000 homes it had promised would be given access to the network by June 30.

Page 3: Former NSW Labor mining minister Ian Macdonald gave a $100 million coal exploration licence to a company linked to former union official John Maitland at a lavish dinner attended by mining entrepreneurs who made millions from the deal, a corruption inquiry has heard.

Page 4: The national broadband network is going to increase costs for television stations to broadcast to regional areas, says Kerry Stokes, the chairman and controlling shareholder of Seven West Media.

Page 5: Billionaire media mogul Kerry Stokes has accused the federal government of planning more oversight of the press than the Chinese government does as media moguls descended on Canberra to attack the media package.

Page 6: Prime Minister Julia Gillard continues to have more support among women as preferred PM despite the Labor Party's overall slump in the polls.

Page 7: Labor will look at changing tax laws to make it easier for indigenous communities to invest in job-creating businesses, adopting a model outlined by the Minerals Council of Australia and indigenous academic Marcia Langton.

Crown Limited chairman James Packer has pledged to create 2000 jobs for indigenous Australians in the next eight years.

Page 8: Energy generation companies are split over Opposition Leader Tony Abbott's plan to repeal the carbon tax, amid concern about its impact on the national energy market.

Page 9: Origin Energy managing director Grant King has called into question the benefits of both the government's renewable energy target and carbon legislation, saying they were not achieving the purpose they were designed for and are unnecessarily driving up costs for consumers.

Page 10: The federal opposition has hedged on whether it will support its traditional small business supporters by backing a future push to reduce penalty rates for weekend work and public holidays.

Page 11: More than 300 inspectors from the office of the Fair Work Ombudsman will have extra powers to monitor possible rorts in the 457 visa program, in the latest measure announced by the government to tighten the rules on the temporary skilled migrant program.

Page 15: Risks from the euro zone have dealt a blow to the bull market rally, sending Australian stocks down 2.05 per cent on Monday – the second-biggest single-day decline in more than nine months.

The corporate regulator has introduced tough new rules to crack down on 'dark pools' after accusing investment banks of using the secretive trading venues to prey on their own clients.

Page 17: Eftel chief executive Scott Stavretis believes the Australian Stock Exchange has identified a lead suspect who may have benefited from inside information when trading shares in the telecommunications minnow Eftel on Thursday.

Melbourne-based M2 Telecommunications confirmed on Monday it was acquiring Dodo and another rival, Eftel, for about $250 million.

Page 18: The sale of SingTel Optus' satellite business could raise up to $2 billion despite increased competition from rivals including NBN Co, say experts.

 

THE AUSTRALIAN

Page 1: Julia Gillard is battling to salvage Labor's media reforms by adjusting plans for press regulation as caucus members blast her handling of the policy and key independents seek to veto the changes.

Page 2: Employers have criticised new legal obligations to provide union officials with transport and accommodation to visit workers on offshore oil and gas platforms, claiming that companies will not recoup the costs resulting from the changes to federal workplace laws.

Page 3: The "gift" of a coal exploration licence by disgraced former NSW resources minister Ian Macdonald in 2008 bestowed a windfall profit of almost $50 million on three Newcastle entrepreneurs.

World: (China) The Wall Street Journal has been investigated for allegedly bribing senior Chinese government officials with lavish trips and entertainment in exchange for information.

Business: A flare-up in Europe's debt crisis has sent the share market to its second-largest sell-off in nine months as investors fret about a run on European banks.

Sport: Ewen McKenzie will leave the Queensland Reds at the end of the Super Rugby season to pursue his dream of coaching at test level.

 

THE SYDNEY MORNING HERALD

Page 1: Senior ministers in the Gillard government are reconsidering their support for the Prime Minister, a sign of collapsing confidence at a critical moment.

Page 2: The Independent Commission Against Corruption, in the third leg of its inquiry, will look at former Labor minister Ian MacDonald's deal with his mates.

Page 3: Julia Gillard's claim that foreigners are pushing Australians to the back of the jobs queue, appears to have been deliberately targeted at a specific group of voters, with new research showing four out of 10 people believe there are too many foreigners admitted under the skilled temporary migration visa program.

World: (Jerusalem) Israel is dressing up for US President Barrack Obama's visit but it's shaping up as all show and little else.

Business: Fear returned to global markets on Monday as investors responded in a savage way to scenes of Cypriot bank depositors queueing to withdraw money at the weekend.

Sport: A defaulted grand final and an internal draft to reinforce the ranks of any club stripped of players because of doping sanctions are among the contingency plans the NRL has drawn up in response to the drugs scandal

 

THE DAILY TELEGRAPH

Page 1: Seven federal MPs will decide what happens to Australia's media when they vote on new reforms.

Page 2: Julia Gillard's key backers have privately challenged Kevin Rudd's numbers men to "reveal names" after disputing their claims the former PM was close to having the numbers in caucus behind him.

Page 3: Burma's president and Prime Minister Julia Gillard came together to talk about democracy, even as both their governments try to pass laws to curb press freedom.

World: (Montreal) Police have caught one inmate involved in what a witness described as a "James Bond-style" helicopter escape from a prison in Canada, while a second man remains on the run.

Business: Investors have stripped almost $30 billion from the value of Australia's stock market.

Sport: Wanderers coach Tony Popovic is set to be without three key players for Saturday's derby.

 

THE AGE

Page 1: Senior Labor ministers losing confidence in Julia Gillard's leadership and are reconsidering their support.

Page 2: The Victorian government will review the rules for the election of Melbourne City councillors after an investigation finds attempts at vote-rigging.

Page 3: Lashings of style, smart clothing and air kisses herald the 2013 Melbourne Fashion Festival. Credit card providers Visa and American Express to restrict unpopular surcharges imposed on customers who pay on credit.

World: Cypriots empty bank ATMs in stampede to claim their money after Europe bailout demand depositors pay a one-off levy on accounts to keep their banks afloat.

Finance: Global markets rattled as investors watch Cypriot bank depositors stampede to withdraw money from ATMs amid fears it could be repeated in other European countries.

Sport: Shane Watson on his way back to India after mending fences with Cricket Australia and high performance chief Pat Howard.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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