Growth at weakest in two years
Australia's economy may be teetering on the brink of a domestic recession as the resources boom falters, consumers restrain spending and businesses cut investment plans. The Fin
Shock for WA businesses
Up to 21,000 WA businesses face a surprise 10 per cent power price hike from next month, in part because a surge in solar panels has reduced electricity demand and forced Western Power to lift its tariffs to claw back a slump in revenue. The West
End to boom starts to bite WA
Western Australia recorded its worst drop in demand since 1989, a sign the end of the resources investment boom is hitting the state's economy hard. The Fin
Woodside pulled up after failing to note safety flaw
The failure of a critical piece of safety equipment designed to prevent potential explosions at Woodside Petroleum’s Vincent oilfield in Western Australia was only identified during a visit by a third party. The Aus
CBD rates slug to fund projects
The City of Perth wants to increase residential and commercial rates in the central business district to raise more than $70 million to fund its ambitious capital works agenda annual budget papers reveal. The West
Top Resources Headlines
End to boom starts to bite WA
Western Australia recorded its worst drop in demand since 1989, a sign the end of the resources investment boom is hitting the state's economy hard. The Fin
Woodside pulled up after failing to note safety flaw
The failure of a critical piece of safety equipment designed to prevent potential explosions at Woodside Petroleum’s Vincent oilfield in Western Australia was only identified during a visit by a third party. The Aus
Iron ore rally fails to keep China bear at bay
The iron ore price has staged a small rebound, but it remains significantly below the year-to-date average and further volatility is tipped as the head of China’s biggest listed steelmaker warns demand will slow. The Aus
Small miners, last of the big spenders
Australian miners are burning through so much cash that they may be forced to merge with rivals, sell assets cheaply and raise money at discounted rates, a new study has warned. The Fin
A hit for gold leaves Newcrest sporting a $20bn shiner
Australia's biggest gold miner, Newcrest Mining, has plunged to a fresh eight-year low, bringing the value destruction in the stock in the past 23 months to $20 billion and starkly illustrating challenges both the company and the gold industry are facing. The Aus
Top Political Headlines
Growth at weakest in two years
Australia's economy may be teetering on the brink of a domestic recession as the resources boom falters, consumers restrain spending and businesses cut investment plans. The Fin
PM caves on asylum security
Julia Gillard has ordered an investigation into how an alQa’ida terrorist was housed for months in low-security immigration detention, as Labor seeks to fend off opposition attacks suggesting the flood of boat arrivals is jeopardising national security. The Aus
Minister attacks advertising freeze
Deputy Premier Kim Hames has criticised the advertising freeze in his tourism portfolio ordered by Colin Barnett and Treasurer Troy Buswell, suggesting it did not make economic sense and should not be repeated. The West
457 plan will irk business, please unions
The government has anticipated that its latest plan to toughen the 457 visa scheme for temporary skilled foreign workers would anger business and be embraced by unions. The Fin
Top Property Headlines
CBD rates slug to fund projects
The City of Perth wants to increase residential and commercial rates in the central business district to raise more than $70 million to fund its ambitious capital works agenda annual budget papers reveal. The West
Floorboards damage leads to eviction threat
A Bunbury doctor and her two children face eviction from their South West home over alleged damage to floorboards, which a magistrate has described as minor. The West
Saraceni family severs last link to South West estate
The family of embattled property developer Luke Saraceni has sold out of a brewery and restaurant operating on the South West grape-growing property sold by receivers last year. The West
The West Australian
Page 1: The head of Princess Margaret Hospital's cancer service has made an impassioned plea for resources after the growing realisation that her staff were not coping with an unrelenting stream of sick children.
Page 6: The WA economy has taken its biggest blow in more than three decades, with miners dropping projects and householders shutting wallets.
The golden age of WA iron ore expansion has come to an end but there is a new opportunity for natural gas development as China seeks to clean up its economy.
Page 7: Deputy Premier Kim Hames has criticised the advertising freeze in his tourism portfolio ordered by Colin Barnett and Treasurer Troy Buswell, suggesting it did not make economic sense and should not be repeated.
Page 10: A Bunbury doctor and her two children face eviction from their South West home over alleged damage to floorboards, which a magistrate has described as minor.
Page 11: The City of Perth wants to increase residential and commercial rates in the central business district to raise more than $70 million to fund its ambitious capital works agenda annual budget papers reveal.
Page 13: Communications Minister Stephen Conroy has accused the coalition of whipping up a scare campaign over the extent of asbestos exposure linked to the rollout of the National Broadband Network.
Page 16: More than 20 WA mine processing sites may be contaminated with toxins such as mercury, lead and arsenic – and two-thirds of them are within 25km of towns and homes.
Page 17: A savage airfare war erupted last night after Virgin Australia released the lowest fares offered by a premium carrier in Australia with flights from Perth to Melbourne as low as $129 one-way to stimulate travel demand that has eased recently.
Page 21: A group of scientists has called on the Barnett government to better protect South West forests amid warnings they are increasingly under pressure and at risk of ecological collapse.
Business: Up to 21,000 WA businesses face a surprise 10 per cent power price hike from next month, in part because a surge in solar panels has reduced electricity demand and forced Western Power to lift its tariffs to claw back a slump in revenue.
Macmahon Holdings has suffered a blow in its new incarnation as a mining-only contractor after global giant Glencore Xstrata froze the expansion of a NSW copper mine.
Shares in iron ore tiddler FairStar Resources surged yesterday after it announced a potential company-making deal in which a mystery investor would spend $US260 million to buy a half-share in profits from Fairstar's eastern Goldfields iron ore project.
The Australian woes of global industrial services provider Cape have worsened with the loss to a rival of a long-term contract at Woodside Petroleum’s North West Shelf project.
The family of embattled property developer Luke Saraceni has sold out of a brewery and restaurant operating on the South West grape-growing property sold by receivers last year.
The Australian Financial Review
Page 1: Australia's economy may be teetering on the brink of a domestic recession as the resources boom falters, consumers restrain spending and businesses cut investment plans.
Lachlan Murdoch ruled out a return to executive life at News Corporation as his father Rupert prepared a historic $77 billion split of the family's media empire later this month.
Page 3: The Coalition's Direct Action policy for climate change, if it had been implemented, would have caused a lot less damage to the economy than the carbon tax and could work if modified, according to former Reserve Bank board member and economist Warwick McKibbin.
Page 4: Prime Minister Julia Gillard has commissioned an independent inquiry into the handling of high-risk asylum seeker cases after it was revealed an Egyptian asylum seeker living in Australia was convicted of murder and belonged to a terrorist group.
Page 5: The government has anticipated that its latest plan to toughen the 457 visa scheme for temporary skilled foreign workers would anger business and be embraced by unions.
Hundreds of foreign workers and students are being forced into debt bondage after paying up to $40,000 for skilled worker visas, with some signing contracts stating they will be sacked if they engage in “trade union activities”.
Page 6: Western Australia recorded its worst drop in demand since 1989, a sign the end of the resources investment boom is hitting the state's economy hard.
Page 8: Telstra has paid about $30 million in compensation to workers affected by asbestos since 1999 and could face tens of millions of dollars in costs over the mishandling of the deadly fibres.
Page 9: Australian families were significantly over-compensated for the impact of the carbon price scheme, according to a new analysis of the adequacy of tax cuts and increased welfare payments that came with it.
Page 10: West Australian Premier Colin Barnett is pushing to open cattle exports to China and wants the Chinese government to invest in uranium projects in his state.
Page 21: Indonesian billionaire Edwin Soeradjaya has declared foreigners need not be scared of investing in the country's resources sector, despite a series of recent events highlighting an apparent rise in hostility towards outside interests.
Australian miners are burning through so much cash that they may be forced to merge with rivals, sell assets cheaply and raise money at discounted rates, a new study has warned.
The Australian
Page 1: Julia Gillard has ordered an investigation into how an alQa’ida terrorist was housed for months in low-security immigration detention, as Labor seeks to fend off opposition attacks suggesting the flood of boat arrivals is jeopardising national security.
Telstra is reconsidering the payments to subcontractors working on National Broadband Network projects amid warnings they could be tempted to cut corners when removing pits that contain asbestos because they are not paid enough to do the work.
The end of the mining investment boom has pushed Western Australia’s economy into recession and left the national economy in its weakest state since the global financial crisis.
Page 2: The China story is not over, economist Ross Garnaut said yesterday, despite the slowing of its demand for more resources.
Campbell Newman has warned the Gillard government he will withdraw Queensland’s support for a yes vote to recognise local government in the Constitution unless the wording of the referendum question is changed.
Page 4: Safety managers have quit the government company building the National Broadband Network amid claims that top executives are not acting firmly enough to tackle the risks involved in the mammoth project.
The Greens risk losing the balance of power in the Senate at the election to independents and minor parties of the Right, improving an Abbott government’s prospects of passing its legislative agenda.
Page 5: The NSW government is briefing other states on the merits of the school funding reforms it signed with the Gillard government, frustrated by claims the secrecy surrounding the deal is preventing other governments from signing up to the Gonski model.
Business: Rupert Murdoch’s reborn News Corporation will inherit the ‘‘Murdochian momentum’’ that made the original company such a success story, the executive who will lead the new News Corp has told key investors in a detailed briefing ahead of its launch this month.
Etihad's enthusiasm to boost its stake in Virgin Australia to 19.9 per cent appears to have cooled for now despite speculation it was among the buyers of 5 per cent of the company traded on the market yesterday.
The failure of a critical piece of safety equipment designed to prevent potential explosions at Woodside Petroleum’s Vincent oilfield in Western Australia was only identified during a visit by a third party.
Mining giant Glencore Xstrata has put a $US139 million ($144m) underground expansion of its Cobar copper mine on ice, terminating the contract of struggling contractor Macmahon Holdings, as big miners continue to rein in spending and put contractors who made a killing during the boom years under severe pressure.
The iron ore price has staged a small rebound, but it remains significantly below the year-to-date average and further volatility is tipped as the head of China’s biggest listed steelmaker warns demand will slow.
Shares in surfwear company Billabong have continued to decline as investors face the reality that another takeover offer is unlikely to emerge.
Australia is one of the best places in the world to be a female entrepreneur, with only the US ahead of us, according to new global research.
The Daily Telegraph
Page 1: The NSW Blues have won the first State of Origin match against the Queensland Maroons.
Page 2: The Blues have suffered seven straight years of State of Origin defeat but 82,000 fans still came out to ANZ Stadium in Sydney on Wednesday to watch them win this year's series opener.
Page 3: A husband and wife who flew from Perth to watch the State of Origin match in Sydney each support different sides.
World: A US court has heard a former computer hacker, Adrian Lamo, alerted authorities about Bradley Manning after the army private confessed to him he had been transmitting classified documents to the Wikileaks website.
Business: Australia's latest GDP data shows a reluctance by business and shoppers to spend despite low interest rates.
Sport: A dozen Parramatta Eels players have been told they won't be needed at the club beyond this season.
The Sydney Morning Herald
Page 1: The NSW Blues have won the State of Origin series opener by eight points. Foreign workers are being forced into debt bondage after paying up to $40,000 for Australian skilled worker visas. There are 100 days to go before the federal election. Children of same-sex parents are doing as well or better than the rest of the population on key health indicators, a new Australian study shows.
Page 2: Children of same-sex parents are doing as well or better than the rest of the population on key health indicators, a new Australian study shows.
Page 3: The 60th Sydney Film Festival has launched on the same night as the State of Origin series opener.
World: A US court has heard that none of the material on a computer owned by Bradley Manning, on trial for leaking classified military documents to Wikileaks, indicated "a hatred of America".
Business: Western Australia's economy is now in recession as national growth slows.
Sport: The NSW Blues have won the State of Origin series opener against the Queensland Maroons.
