Today's Headlines
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BHP leads revolt over IR changes
BHP Billiton is leading a business attack on the Labor government's second round of changes to industrial relations laws, which the mining giant says will force it to respond to countless requests for flexible working hours and consult every time it wants to change rosters. The Fin
Commodity calamity
Investors, company executives and politicians across WA were nervously eyeing commodity prices last night in the hope that early signs of a bounce-back would herald a rally in the value of the minerals that underpin the state's economy. The West
Clock ticking for Swan's changes
Labor is racing to meet a midyear deadline to legislate $11 billion in tax hikes and spending cuts as it comes under fire for acting too slowly to fund its election promises. The Aus
WA schools worse off under plan
More than 60 per cent of WA schools would be comparatively worse-off under Julia Gillard's school's funding plan, according to an internal state analysis of the federal proposal. The West
Barnett in backtrack on power prices
Colin Barnett yesterday declined to guarantee electricity price rises would be limited to the rate of inflation, despite giving the explicit promise during the election campaign. The West
Top Resources Headlines
BHP leads revolt over IR changes
BHP Billiton is leading a business attack on the Labor government's second round of changes to industrial relations laws, which the mining giant says will force it to respond to countless requests for flexible working hours and consult every time it wants to change rosters. The Fin
Commodity calamity
Investors, company executives and politicians across WA were nervously eyeing commodity prices last night in the hope that early signs of a bounce-back would herald a rally in the value of the minerals that underpin the state's economy. The West
Miners urge gold royalty holiday
Miners have called on the state government to exclude gold from its impending royalty review, arguing that the collapsing price of the precious metal has collided with surging production costs to undermine the industry. The West
Miners fight coal seam gas clampdown
Australia's largest resources companies, including BHP Billiton, Shell, Santos and Arrow Energy, say the Gillard government's proposed new coal seam gas regulations are “fundamentally bad law”, without due process or industry consultation, but the government says it is doing what the public expects. The Fin
Rio takes hit as bears roam
Rio Tinto has added to the gloom surrounding the resources sector thanks to fears of a China slowdown, revealing the hit it has taken from the massive pitwall failure at its Bingham Canyon copper mine in the US. The Aus
Top Politics Headlines
WA schools worse off under plan
More than 60 per cent of WA schools would be comparatively worse-off under Julia Gillard's school's funding plan, according to an internal state analysis of the federal proposal. The West
Barnett in backtrack on power prices
Colin Barnett yesterday declined to guarantee electricity price rises would be limited to the rate of inflation, despite giving the explicit promise during the election campaign. The West
Clock ticking for Swan's changes
Labor is racing to meet a midyear deadline to legislate $11 billion in tax hikes and spending cuts as it comes under fire for acting too slowly to fund its election promises. The Aus
Cabinet too soft on NBN deal: claim
Federal cabinet rejected recommendations from one of the government's top media advisers to take a tougher approach in negotiations with Telstra over the national broadband network. The Fin
Preselection vote splits Labor Left
The brawling over Senate pre-selection appears to have formally split WA Labor's Left faction, with the Metal Workers and other blue collar unions declaring United Voice had abandoned progressive principles by backing Right powerbroker Joe Bullock over Left candidate and incumbent Senator Louise Pratt. The West
Top Property Headlines
Big-site industrial park pitch
After a four-year land banking campaign to secure seven adjoining sites in Wangara, the privately held Keneric Group is launching a business park. The West
WA infrastructure agency overdue
The Property Council of Australia has stepped up its call for an infrastructure agency to secure funding for WA's infrastructure projects, particularly for solutions to Perth's worsening traffic congestion. The West
The West Australian
Page 11: More than 60 per cent of WA schools would be comparatively worse-off under Julia Gillard's school's funding plan, according to an internal state analysis of the federal proposal.
Page 18: The brawling over Senate pre-selection appears to have formally split WA Labor's Left faction, with the Metal Workers and other blue collar unions declaring United Voice had abandoned progressive principles by backing Right powerbroker Joe Bullock over Left candidate and incumbent Senator Louise Pratt.
Prominent Aboriginal elder Glen John Colbung has become the second person to be charged over an alleged cattle scam that duped Indonesian investors into paying hundreds of thousands of dollars for beef and dairy cattle that did not exist.
Page 19: Colin Barnett yesterday declined to guarantee electricity price rises would be limited to the rate of inflation, despite giving the explicit promise during the election campaign.
Page 26: A group of WA nurses claim their recently re-negotiated pay rise will do nothing to address conditions in hospitals and say they are forced to cut corners and neglect patients.
Business: Investors, company executives and politicians across WA were nervously eyeing commodity prices last night in the hope that early signs of a bounce-back would herald a rally in the value of the minerals that underpin the state's economy.
WA's two leading rural lobby groups are poles apart on a relief package to help battling farmers after the Pastoralists and Graziers Association objected to a low interest rate or subsidy scheme backed by the state government.
Ausdrill is expected to become the latest mining services provider to slash its profit forecast amid a plunge in stocks exposed to drilling and equipment hire.
More wine exporters are targeting the top end of the Chinese market as its demand for lower-quality product drops away.
Iron ore prices have remained steady so far this week, despite tumbling prices elsewhere on commodity markets, but analysts say signs of a slowdown in the Chinese steel market will eventually flow through to iron ore producing.
Miners have called on the state government to exclude gold from its impending royalty review, arguing that the collapsing price of the precious metal has collided with surging production costs to undermine the industry.
Undeterred by the plunge in gold prices, China's Zijin Mining is pushing ahead with its project buy-up in WA, with 89 per cent Zijin-owned Norton Gold Fields expected to emerge from a trading halt this week to announce it will acquire near neighbour Kalgoorlie Mining Company.
Cattle producer Australian Agricultural Company will lower the value of its herds, partly because continued dry weather has hurt domestic cattle prices.
After a four-year land banking campaign to secure seven adjoining sites in Wangara, the privately held Keneric Group is launching a business park.
The Property Council of Australia has stepped up its call for an infrastructure agency to secure funding for WA's infrastructure projects, particularly for solutions to Perth's worsening traffic congestion.
The Australian Financial Review
Page 1: BHP Billiton is leading a business attack on the Labor government's second round of changes to industrial relations laws, which the mining giant says will force it to respond to countless requests for flexible working hours and consult every time it wants to change rosters.
The biggest plunge in the gold price since 1983 sparked fears the precious metal has been caught up in a price bubble that could now be deflating.
Page 3: Fast food king Jack Cowin and big four accounting firm Deloitte could end up in court over a failure to lodge a form that would have saved Mr Cowin hundreds of thousands of dollars in stamp duty.
Page 4: The Gillard government risks losing its proposed school funding reforms due to the flawed practice of ambushing the states with details then attacking them if they do not sign up, former Australian Government's Reform Council chairman Paul McClintock says.
In a downside of the mining boom, high costs, especially for labour, is expected to force private schools in Western Australia to raise fees at a faster rate than elsewhere in the country.
Page 5: Federal cabinet rejected recommendations from one of the government's top media advisers to take a tougher approach in negotiations with Telstra over the national broadband network.
Page 6: The Reserve Bank of Australia retained its so-called easing bias earlier this month when the central bank's board decided the outlook for inflation meant there was scope to lower official interest rates.
Page 8: Australia's largest resources companies, including BHP Billiton, Shell, Santos and Arrow Energy, say the Gillard government's proposed new coal seam gas regulations are “fundamentally bad law”, without due process or industry consultation, but the government says it is doing what the public expects.
Assistant Treasurer David Bradbury has rejected claims by the resources sector that Australia is no longer attractive for international investors due to changes in tax under Labor, saying “the facts do not support this proposition”.
Page 9: The Business Council of Australia, backed by the nation's other peak business, industry and welfare groups, will launch a concerted campaign on Wednesday urging politicians of all persuasions to start governing for the long term and not just the “next six months”.
Page 15: Australia's largest independent chain of greengrocers, Harris Farm Markets, has urged the competition regulator to examine lease agreements and new store developments as part of its investigation into alleged misuse of market power by Coles and Woolworths.
Foxtel may face renewed pressure from free-to-air broadcasters for beaming their programs across Australia after rival pay-TV producer Fetch TV said it was open to “fair and reasonable” retransmission fees.
Page 17: Rio Tinto has lowered its full-year copper production guidance by 19 per cent in expectation its Bingham Canyon mine in Utah will be out of action for around six months after a spectacular pit wall failure last week.
Australia's largest goldminer, Newcrest Mining, says it can cope with a plummeting gold price amid suggestions the miner could be forced to revise the production at its high-cost mine in Papua New Guinea or even close it down if the price of the precious metal continues to fall.
Page 18: Leighton Holdings' lenders and bondholders are divided over the likelihood of a credit rating downgrade from ratings agency Standard & Poor's, with banks' expectations of a downgrade tempered by the contractor's improving financial profile.
The Australian
Page 1: The deadly bomb attacks on the Boston Marathon have sparked fears of a rejuvenated terrorist campaign against the West, with the US on high alert today after Barack Obama vowed to hunt down those responsible.
The complexity of Labor’s mining tax forced Treasury’s brightest boffins to yell for help from consultants, who explained it with seven tangled ‘‘noodle nation’’ diagrams.
Labor's health reforms have failed to make the system sustainable in the long term, entrenching a funding model that allows rising demand for medical services to threaten the principle of universal healthcare.
Page 2: School funding will next year increase by a modest $580 million — 4 per cent of the $14.5 billion outlined by the federal government in its new model — with the bulk of the increased money deferred for five years.
Page 4: Labor is racing to meet a midyear deadline to legislate $11 billion in tax hikes and spending cuts as it comes under fire for acting too slowly to fund its election promises.
Treasury secretary Martin Parkinson dismissed renewed concerns about a Chinese economic slowdown yesterday and derided financial markets for their ‘‘excessive, almost unhealthy’’ focus on small changes in statistics.
The International Monetary Fund believes commonwealth and state governments will be over their budget problems by 2015, buoyed by economic growth of 3 per cent or more this year and next.
Page 6: The peak body for job agencies has called for a root and branch review of the system as the ranks of long-term unemployed have swollen by 80 per cent in the past five years.
One of the nation’s highest-profile bus companies has been accused of exploiting 457 visa workers, with photographs at one outpost revealing filthy bathroom facilities and unsafe working conditions.
A rare court victory against a multinational miner on environmental grounds has emboldened small communities across NSW to legally test new development applications in the resources sector.
Page 8: TheBusiness Council of Australia will today warn that the nation’s planning for the future is ‘‘somewhere between half-hearted and non-existent’’ and demand the political class turn its focus to the coming decade rather than the next six months.
Business: Rio Tinto has added to the gloom surrounding the resources sector thanks to fears of a China slowdown, revealing the hit it has taken from the massive pit wall failure at its Bingham Canyon copper mine in the US.
The dramatic sell-off in resources stocks accelerated yesterday and the Australian dollar fell as investors focused on plunging gold and commodity prices and concerns about slowing growth in China.
Mining and energy companies have accused the government of threatening the supply of gas on Australia’s east coast and creating additional layers of green tape by proposing strict new federal environmental controls over coal-seam gas projects.
Nine Entertainment has proposed draft amendments to the Broadcasting Services Act to beef up its commitment to regional news services as the media company continues to push for a $4 billion merger with Southern Cross Austereo.
Litigation funder IMF has said it will launch a second class action — representing 90 councils, churches and charities — against ratings agency Standard & Poor’s over poor financial advice.
The Daily Telegraph
Page 1: There's been a "massacre" at the Boston marathon with a blast killing a number of people.
Page 2: A big manhunt has begun for those responsible for the blast in Boston. An eight-year-old boy was one of the victims of the blast.
Page 3: US President Barack Obama has pledged to bring the perpetrators of the blast to justice. A man, 78, was knocked down by the blast but still finished the race.
World: There's been a demand for votes to be recounted in Venezuela after a controversial result in the presidential election there.
Business: There was a big fall in the Aussie sharemarket on Tuesday, with $7 billion wiped off the local bourse.
Sport: A Holden Cup player had to spend two days in hospital after being knocked out by a shoulder charge in an NRL match on the weekend.
The Sydney Morning Herald
Page 1: Terror has returned to the US, with a blast killing a number of people in Boston.
Page 2: Most old people want to stay in their homes rather than downsize or move into aged care. Miranda Kerr has unveiled new uniforms for Qantas employees.
Page 3: A man who survived four days being stuck under a crashed car was kept company by his dog. A tongue-in-cheek article by a conservative think-tank that advocated "killing off" the poorest 20 per cent of Aussies has been criticised by Labor.
World: At least 37 people have been killed in Iraq in around 20 separate attacks there on Tuesday.
Business: The share market was hit hard on Tuesday due largely to the plummeting price of gold.
Sport: Tony Williams has admitted his form is not where it should be at the Bulldogs.
The Herald Sun
Page 1: A complaint to parliament by Frankston MP Geoff Shaw regarding anonymous comments about him in a newspaper article sparked the resignation of state government minister Andrew McIntosh. A defiant James Hird says he told the truth to sports drug investigators.
Page 2: Organisers of Australia's major sporting events will review security arrangements after the Boston Marathon bombing.
Page 3: Bookmaker Tom Waterhouse's firm is the latest to face court over Victorian laws banning rewards for opening a betting account, but anti-gambling campaigners say the current fines are inadequate for big bookies found guilty of the offence. Fashion designer Kym Ellery struggled to maintain her business while contracted to Myer, the Supreme Court has heard.
World: North Korea's military says it will attack without warning if anti-North Korean activities continue in the South, after Seoul protesters burned portraits of North Korea's ruling family members.
Business: US markets dropped rapidly after the Boston Marathon bombing, but are likely to recover quickly, analysts say.
Sport: AFL Great Western Sydney Giants ruckman Dean Brogan was suspended for three matches for rough conduct in a high bump that left St Kilda midfielder Jack Newnes needing jaw surgery.
The Age
Page 1: Three people have been killed in the Boston Marathon bombing, with 144 injured, many having their legs savagely amputated by the force of the blasts.
Page 2: "These runners just finished and they don't have legs now", a Boston Marathon eyewitness says. By the end of the day, no one had taken responsibility for the blasts. No Australian deaths or injuries have been reported, but many Australians were within metres of the two bombs.
Page 3: Bill Iffrig, 78, was helped to his feet after the first Boston Marathon bomb blast and was determined to finish the race, suffering only a scrape on the knee and shock from the blast. It was his 45th marathon.
World: At least 37 people have been killed and more than 140 wounded in nearly 20 separate attacks across Iraq in the lead-up to local elections on Saturday.
Business: A record gold sell-off on Monday plunged the country's biggest listed gold producer, Newcrest Mining, to its lowest share price since 2006, and raised questions about the local metal sector's future.
Sport: AFL Players Association is researching substances Essendon players may have taken in a bid to help protect them from any possible health risks.