31/05/2013 - 06:53

Today's Headlines

31/05/2013 - 06:53

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Today's Headlines

Abbott in funding backlash

Opposition Leader Tony Abbott was told by senior colleagues to abandon his support for the public funding changes or risk open warfare with his party after it emerged he did not consult with any of his leadership team or the broader party machine before committing the Coalition to the now-dumped package. The Fin

NBN shares asbestos blame

The federal government agency building the National Broadband Network is being blamed for exposing workers to asbestos risks amid revelations it was warned two years ago to act on the danger. The Aus

Rail access stoush raises ire

Premier Colin Barnett has delivered a stinging rebuke to iron ore companies warring over access to rail lines in the Pilbara, saying industry infighting is a bigger obstacle to growth than government red tape. The West

Plea for rational approach on CSG

Regulators need to take a more rational approach to approving coal seam gas projects, which have been hit by widespread community hostility, according to the government's independent think tank. The Fin

PTA to blame for train scare

An investigation into the entanglement of a fast-moving train with 25,000 volt overhead power lines has uncovered shortages of crucial maintenance and engineering staff, inadequate training and unauthorised engineering procedures. The West

 

 

Top Resources Headlines

Rail access stoush raises ire

Premier Colin Barnett has delivered a stinging rebuke to iron ore companies warring over access to rail lines in the Pilbara, saying industry infighting is a bigger obstacle to growth than government red tape. The West

Plea for rational approach on CSG

Regulators need to take a more rational approach to approving coal seam gas projects, which have been hit by widespread community hostility, according to the government's independent think tank. The Fin

IOH boss urges junior miners to be realistic

Junior miners need to cut back their exploration portfolios and trip development plans to win back the support of global equity markets, according to Iron Ore Holdings' boss Alwyn Vorster. The West

Iron ore miners face $18bn hit

Fears that annual revenues of the Pilbara iron ore producers are in line for a combined hit of more than $18 billion have sent investors scurrying for the exits. The Aus

Voelte takes Seven Group helm

New Seven Group Holdings chief executive Don Voelte has signalled an aggressive approach to his new role, with the former Woodside Petroleum chief stating he intends to use the current downturn in the resources sector as an opportunity to strengthen and expand the company’s mainstay mining equipment business. The Aus

 

Top Politics Headlines

Abbott in funding backlash

Opposition Leader Tony Abbott was told by senior colleagues to abandon his support for the public funding changes or risk open warfare with his party after it emerged he did not consult with any of his leadership team or the broader party machine before committing the Coalition to the now-dumped package. The Fin

NBN shares asbestos blame

The federal government agency building the National Broadband Network is being blamed for exposing workers to asbestos risks amid revelations it was warned two years ago to act on the danger. The Aus

WA will weather slump: Buswell

Treasurer Troy Buswell says he is confident the WA economy will weather the latest slump in mining investment, and another sharp fall in iron ore prices, but has again warned of public service job losses to balance the books. The West

 

Top Property Headlines

'Bucket of money' to aid mergers

Local Government Minister Tony Simpson says he expects final maps outlining Perth's new local government boundaries will be released within two months, with the first new council operating in two years. The West

 

The West Australian

Page 1: An investigation into the entanglement of a fast-moving train with 25,000 volt overhead power lines has uncovered shortages of crucial maintenance and engineering staff, inadequate training and unauthorised engineering procedures.

Page 6: Julia Gillard is earning a crust the hard way, with the Prime Minister having a second sandwich hurled at her in less than a month.

Page 9: Restaurants will be able to apply for a fast-tracked permit to serve alcohol to customers without a meal from next week under changes announced yesterday.

Page 11: Gina Rinehart urged her estranged children to drop their multi billion-dollar court action against her because the publicity had attracted the attention of “senior Labor Party representatives” who wanted to tax the rich to pay for Australia's rising debt.

Page 17: Local Government Minister Tony Simpson says he expects final maps outlining Perth's new local government boundaries will be released within two months, with the first new council operating in two years.

Page 22: Labor and the crossbenchers have attacked Tony Abbott's trustworthiness after the Opposition Leader broke his word on supporting plans to deliver an extra $10 million a year of taxpayers money to political parties.

Page 30: Colin Barnett yesterday attacked the maritime union over its wage claims while declaring that its “old fashioned” and “improper” tactics were scaring overseas investors.

Business: Premier Colin Barnett has delivered a stinging rebuke to iron ore companies warring over access to rail lines in the Pilbara, saying industry infighting is a bigger obstacle to growth than government red tape.

Junior miners need to cut back their exploration portfolios and trip development plans to win back the support of global equity markets, according to Iron Ore Holdings' boss Alwyn Vorster.

Treasurer Troy Buswell says he is confident the WA economy will weather the latest slump in mining investment, and another sharp fall in iron ore prices, but has again warned of public service job losses to balance the books.

Decmil Group has flagged a changing of the guard at an operational level with the looming departure of Decmil Australia managing director Ray Sputore.

Seven Group Holdings has engaged in some mind games with the bidders for Coates Hire, insisting it is ambivalent about the $3.3 billion sale.

 

The Australian Financial Review

Page 1: Opposition Leader Tony Abbott was told by senior colleagues to abandon his support for the public funding changes or risk open warfare with his party after it emerged he did not consult with any of his leadership team or the broader party machine before committing the Coalition to the now-dumped package.

The Australian company that dragged Westpac Banking Corp into the world's largest money laundering prosecution, Technocash, received a federal government start-up grant of almost $100,000.

Page 3: Regulators need to take a more rational approach to approving coal seam gas projects, which have been hit by widespread community hostility, according to the government's independent think tank.

Page 5: Opposition Leader Tony Abbott has warned that whoever leads Labor after the election would oppose the abolition of the carbon tax at their peril.

Page 6: The Gillard government faces a showdown with employers who argue it has “no mandate” for last-minute amendments to allow for arbitration of deadlocked greenfields resource projects and so-called intractable disputes.

Gina Rinehart's two eldest children have accused her of writing a misleading letter that sparked the bitter family litigation, claiming she failed to disclose key elements of the trust which meant they could not be bankrupted.

Page 7: Communications Minister Stephen Conroy has refused to comment on suggestions he personally intervened to shut down moves by NBN Co chairman Siobhan McKenna to potentially replace chief executive Mike Quigley at an emergency board meeting last Wednesday.

Page 8: Companies modestly upgraded investment forecasts for the next financial year, but economists warned much of the increase was being driven by resource project cost blowouts, adding to doubts about drivers of national economic growth.

Page 13: Former Boral chief executive Mark Selway is being considered for the top job at the world's largest scrap metal recycler, Sims Metal Management.

Page 15: Billionaire Kerry Stokes has pledged that Don Voelte's new position as chief executive of mining equipment and services company Seven Group Holdings will be long-term, in contrast to the year the Nebraskan spent running the conglomerate's media investment.

Nine Entertainment Co could match Ten Network's $500 million cash bid for the cricket media rights in a deal that may be partly funded by new debt regardless of whether it strikes a corporate deal with WIN Corporation.

Page 16: Brockman Mining has signed a memorandum of understanding with a Chinese state-owned entity that could help provide evidence of financial backing to support its effort to gain acess to Fortescue Metals Group's Pilbara railway line.

 

The Australian

Page 1: The federal government agency building the National Broadband Network is being blamed for exposing workers to asbestos risks amid revelations it was warned two years ago to act on the danger.

Julia Gillard’s agenda for seamless national education reform took a battering yesterday when Victoria accused the commonwealth of running a ‘‘sham’’, ‘‘puerile’’ and farcical process over her Gonski agenda.

The opposition has asked the independents whether they would support a no-confidence motion against the government that would spark an August 3 election.

Page 2: Telstra is rejecting demands to set up a James Hardie-style fund amid warnings that the risk of asbestos safety breaches related to the National Broadband Network roll-out could be far wider as the lightning-fast cable is installed inside homes and businesses.

A lawnmowing contractor’s discovery of asbestos near a pit where the NBN was being installed south of Perth led inspectors to uncover more of the potentially deadly fibres at other locations where the high-speed broadband network was being installed.

Page 4: The Gillard government is likely to revive an electoral reform bill that will reduce the disclosure limit on political donations to $1000 after Tony Abbott dumped his support for measures to hand millions to political parties despite agreeing in writing to back it.

The spectacular collapse of the deal between the major parties on election funding and donations disclosure will cost Canberra’s political players $30 million over the electoral cycle.

Nationals leader Warren Truss has asked Speaker Anna Burke to inquire into whether independent MP Tony Windsor abused parliamentary privilege when he alleged his Nationals rival in the seat of New England had received hundreds of thousands of dollars from mining magnate Gina Rinehart.

Page 5: Campbell Newman has demanded that Australia formally apologise to Indonesia for suspending live cattle exports nearly two years ago, blaming the ban for precipitating the beef industry crisis in northern and western Queensland.

Business: Fears that annual revenues of the Pilbara iron ore producers are in line for a combined hit of more than $18 billion have sent investors scurrying for the exits.

Ruralco is firming as the frontrunner in the bidding for Elders’ rural services business, with the competition watchdog clearing the way for a potential takeover.

Nine Entertainment Co’s US hedge fund owners Apollo and Oaktree are flying into Sydney today for emergency talks about buying billionaire Bruce Gordon’s Adelaide and Perth television stations.

Companies are facing a ‘‘dangerous decision’’ about whether to spend surplus cash on mergers and acquisitions or return it to shareholders, according to one of the most senior investment bankers on Wall Street.

New Seven Group Holdings chief executive Don Voelte has signalled an aggressive approach to his new role, with the former Woodside Petroleum chief stating he intends to use the current downturn in the resources sector as an opportunity to strengthen and expand the company’s mainstay mining equipment business.

Wesfarmers chief executive Richard Goyder has revealed the conglomerate released a profit warning for its Target department store chain to avoid being accused of ‘‘ghastly things’’ in the operation of complex share structure set up at the time of its $20 billion Coles supermarket acquisition in 2007.

Department store chain Myer is believed to be circling Australian fashion brand Lisa Ho, which collapsed this month with debts of nearly $11 million.

Online retail sales are continuing to vastly outpace traditional merchants, with internet purchases by Australian shoppers up by 23 per cent last month compared to the same month a year earlier.

 

The Daily Telegraph

Page 1: Racehorse trainer Bart Cummings has no plans to retire and is aiming at a 13th Melbourne Cup win this year. Bookmaker Tom Waterhouse has said sorry for the public uproar caused by his ad blitz during NRL games.

Page 2: Advertisement.

Page 3: Souths star John Sutton became a NSW Blue for only two minutes on Thursday due to an NRL twitter stuff-up.

Page 4: Telstra has been accused of taking shortcuts on the NBN and exposing workers to asbestos.

World: A US man planned to kidnap and then rescue a teenage girl, but ended up killing her and is now facing a murder charge.

Business: There could be more steam left in the mining boom with data showing investment won't plummet.

Sport: Eddie McGuire's apology to Adam Goodes won't get him off the hook, with the Sydney Swans star having a say in how McGuire will be punished.

 

The Sydney Morning Herald

Page 1: A Sydney surgeon has been told to stop performing a cancer operation for the next 33 days to make budget. The Ivy has been named the state's most violent venue.

Page 2: Advertisement.

Page 3: Advertisement.

Page 4: The Collingwood board and coach have expressed support for under-siege president Eddie Mcguire.

Page 5: In Australia, racism is often disguised as larrikinism, an academic says.

World: An Islamic terrorist was rebuked by al-Qaeda for failing to submit his expenses and answer his phone weeks before the Algeria gas facility crisis.

Business: The mining boom is in its last throws, but it's not all doom and gloom for the Aussie economy.

Sport: Canterbury's Josh Reynolds is set to make his Origin debut for NSW

 

The Herald Sun
Page 3: Centrelink has called in debt collectors to chase a 99-year-old who had been overpaid $7700 in the aged pension, the Auditor-General has discovered.

Page 5: A chiropractor slept with five of his patients due to a shortage of women in a rural Victorian city, a tribunal has been told. Distressed parents had to drive their screaming son to hospital with a coin stuck in his throat for surgery because no ambulance was available on Monday.

World: A man used a fake Facebook account to lure a teenage girl out of her house in an attempt to stage her kidnapping and rescue so he could look like a hero, but ended up killing her, police say.

Finance: There may be more life left in the mining sector than many believe, official figures suggest.

Sport: Collingwood coach Nathan Buckley has given Andrew Krakouer and Harry O'Brien the option of sitting out tonight's game against Brisbane if they feel they are not in the right mental state.

 

The Age

Page 1: At least 15 Volkswagen owners have revealed they experienced the same terrifying loss of acceleration that appears to have led to the 2011 death of 32-year-old Melissa Ryan on the Monash Freeway.

Page 2: Doctors have condemned a decision by the Victorian government's fund management organisation to continue investing more than $100 million in tobacco companies. Victorian Health Minister David Davis has applauded Swinburne for being the first Victorian university to ban smoking across its four campuses, but says he is still considering statewide bans on smoking at outdoor dining and drinking areas.

Page 3: Controversial Frankston MP Geoff Shaw has suggested politicians should be paid as much as judges, warning a new deal that will pay all Victorian politicians more than $150,000 a year is insufficient.

World: Mokhtar Belmokhtar, the one-eyed Islamist terrorist, was taken to task by al-Qaeda for failing to submit his expenses, answer his phone and carry out a spectacular attack weeks before the Algeria gas facility hostage crisis.

Finance: The mining investment boom is in its final days, but economists say there is still strength in the Australian economy, with business spending expectations remaining upbeat.

Sport: Collingwood duo Harry O'Brien and Andrew Krakouer will play against the Brisbane Lions on Friday night, despite coach Nathan Buckley giving both men the option to skip the game, as the fallout from Eddie McGuire's inexplicable King Kong reference continued.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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