Abbott: tax hike won't hurt firms
Many big businesses will benefit from a small increase in company tax under a Coalition government because they will be able to abandon their own in-house paid parental leave schemes, federal Opposition Leader Tony Abbott says. The Fin
Labor sounds budget alarm
The Gillard government has gone into overdrive in its efforts to prepare the public for a run of big budget deficits, as independent economists warn the commonwealth budget faces deep structural problems that will last for many years. The Aus
Bullion plunge sees miners tighten belts
WA gold producers have begun reacting to last week's sharp falls in the bullion price, with sector heavyweight Silver Lake Resources yesterday announcing plans to slash costs to preserve margins. The West
Santos, Total mull Darwin LNG options for Browse gas
Santos has started considering development options for its gas resources in the Browse Basin, off Australia's far north-west coast, with processing through a liquefied natural gas plant in Darwin seen as the most likely option. The Fin
Abbott leaves GST fight to the states
Further evidence that WA's finances are unlikely to be assisted by the election of an Abbott government mounted yesterday when Opposition Leader Tony Abbott said the GST argument was “a matter for the states” and shadow treasurer Joe Hockey restated the Liberal Party's disinclination to fund urban rail projects. The West
Top Resources Headlines
Bullion plunge sees miners tighten belts
WA gold producers have begun reacting to last week's sharp falls in the bullion price, with sector heavyweight Silver Lake Resources yesterday announcing plans to slash costs to preserve margins. The West
Rising costs force cutbacks at coal, rare earth miners
Australia's resources industry has been dealt a double blow as Rio Tinto subsidiary Coal & Allied and rare earths explorer Arafura Resources were forced to overhaul development plans amid rising costs, regulatory hurdles and lower margins. The Fin
Santos, Total mull Darwin LNG options for Browse gas
Santos has started considering development options for its gas resources in the Browse Basin, off Australia's far north-west coast, with processing through a liquefied natural gas plant in Darwin seen as the most likely option. The Fin
OZ Min joins rush to slash costs
OZ Minerals has joined the mining industry’s attack on costs in the face of the sudden and sharp fall in metal prices by freezing wages and slashing bonus payments to staff. The Aus
Top Politics Headlines
Labor sounds budget alarm
The Gillard government has gone into overdrive in its efforts to prepare the public for a run of big budget deficits, as independent economists warn the commonwealth budget faces deep structural problems that will last for many years. The Aus
Abbott: tax hike won't hurt firms
Many big businesses will benefit from a small increase in company tax under a Coalition government because they will be able to abandon their own in-house paid parental leave schemes, federal Opposition Leader Tony Abbott says. The Fin
Business calls for clarity and discipline
Business leaders have urged Labor to maintain its budget discipline as Prime Minister Julia Gillard rejected calls for the government to offset slumping revenue through spending reductions. The Fin
Abbott leaves GST fight to the states
Further evidence that WA's finances are unlikely to be assisted by the election of an Abbott government mounted yesterday when Opposition Leader Tony Abbott said the GST argument was “a matter for the states” and shadow treasurer Joe Hockey restated the Liberal Party's disinclination to fund urban rail projects. The West
Top Property Headlines
Council plan to reopen popular Subiaco market
Subiaco's Pavilion Market could re-open for the first time in six years after long delays on plans to redevelop the $25 million site. The West
Top-end property sales healthy
Multimillion-dollar houses are changing hands nationally but at prices well below prestige market highs. The Fin
Sales up but Australand still awaits a suitor
Takeover target Australand says residential sales for the first three months of this year have lifted compared with the previous corresponding quarter. The Aus
The West Australian
Page 1: The City of Perth is considering higher parking fees, bigger fines and no weekend parking discounts – all because deregulated shopping hours have slashed its income from carparks.
Page 3: Savvy Perth cafes and bars are leading the backlash against soaring coffee prices, slashing the cost of a caffeine fix to lure customers frustrated by exorbitant prices.
Page 4: Further evidence that WA's finances are unlikely to be assisted by the election of an Abbott government mounted yesterday when Opposition Leader Tony Abbott said the GST argument was “a matter for the states” and shadow treasurer Joe Hockey restated the Liberal Party's disinclination to fund urban rail projects.
Page 11: WA employers are being urged to tackle physical inactivity, unhealthy eating and harmful alcohol consumption among workers as part of an $8 million campaign to cut down on sick days.
Four of Australia's six fastest growing air routes are from Perth, underscoring WA's booming economy, according to government figures for last year.
Page 14: Subiaco's Pavilion Market could re-open for the first time in six years after long delays on plans to redevelop the $25 million site.
Business: WA gold producers have begun reacting to last week's sharp falls in the bullion price, with sector heavyweight Silver Lake Resources yesterday announcing plans to slash costs to preserve margins.
Ginia Rinehart has sparked celebrations of another significant milestone in her family's iron ore history, with first ore leaving the Rio Tinto-operated Hope Downs 4 mine.
Somalia plans to sign 30 oil and gas production-sharing contracts this year, starting with companies that operated in the country before its government was toppled more than two decades ago, an official said.
Former Prime Minister Kevin Rudd has joined global business and political heavyweights as an adviser on a new $US300 million China-focused scholarship program established by a billionaire US businessman.
Caterpillar, the world's biggest maker of mining and construction equipment, reported first-quarter profits and sales that trailed analysts estimates as mining companies slowed orders.
Investors have dumped OZ Minerals and sent its share price down to a 10-year low after the South Australia-focused copper and gold miner slashed its production guidance but warned about rising costs.
Straits Resources has continued its rampant regeneration, divesting itself of two assets yesterday to boost its cash coffers by $5.4 million.
A leading rural banker is urging the state government to consider a rebate on crop mitigation insurance to ease the debt crisis among some Wheatbelt farmers.
Troubled vanadium producer Atlantic has been forced to defend its financial health after Australian Securities Exchange officials questioned whether the company should be allowed to retain its listing.
Qantas' debt risk has dropped to a 20-month low as model Miranda Kerr and actor John Travolta help the airline celebrate its global tie-up with Emirates and revamp a brand tarnished by safety concerns and labour disputes.
The Australian Financial Review
Page 1: Many big businesses will benefit from a small increase in company tax under a Coalition government because they will be able to abandon their own in-house paid parental leave schemes, federal Opposition Leader Tony Abbott says.
One of the architects of Medicare thinks Australia's hospital funding model is unsustainable and the federal government may have to give additional support to private health.
Page 3: The federal government is running out of time to abolish the television reach rule, which would stymie a merger between Nine Entertainment Co and Southern Cross Media.
Multimillion-dollar houses are changing hands nationally but at prices well below prestige market highs.
Page 4: Business leaders have urged Labor to maintain its budget discipline as Prime Minister Julia Gillard rejected calls for the government to offset slumping revenue through spending reductions.
Page 5: The federal government is not ruling out appointing a new governor-general before the election, while Opposition Leader Tony Abbott, who favours the appointment of retired general Peter Cosgrove, is demanding the Prime Minister hold off until afterwards.
In a submission to a Senate inquiry into the second tranche of changes to the Fair Work Act, the Business Council of Australia has called for new limits to protected industrial action and to reduce vexatious claims.
Page 6: Huawei Australia chairman John Lord says the controversial Chinese telecommunications equipment vendor has all but given up hope of supplying the national broadband network, even though its status may be reviewed after the federal election.
Page 8: The Coalition is preparing a Henry review-style inquiry into competition laws, including an investigation into the market dominance of supermarket chains, within the first 100 days of an Abbott government.
Page 11: Qantas Airways has started reallocating marketing funds previously destined for Tourism Australia to the states, striking a $30 million, three year agreement with NSW in a clear signal that the spat between the national carrier and the national agency remains unresolved.
Page 15: Billabong International is expected to extend exclusive talks with suitor Sycamore Partners after the bidder was frustrated in its attempts to obtain key documents.
Australia's resources industry has been dealt a double blow as Rio Tinto subsidiary Coal & Allied and rare earths explorer Arafura Resources were forced to overhaul development plans amid rising costs, regulatory hurdles and lower margins.
Page 17: Qantas Airways is chasing a fourth international pillar to add to recent alliances with other airlines, pushing for talks to begin over a broader relationship with Latin American giant Latam Airlines.
Santos has started considering development options for its gas resources in the Browse Basin, off Australia's far north-west coast, with processing through a liquefied natural gas plant in Darwin seen as the most likely option.
OZ Minerals has frozen pay for most staff and slashed bonuses as it attempts to maintain profitability in the face of lower copper and gold prices and a pit wall slip at its Prominent Hill mine.
The Australian
Page 1: The Gillard government has gone into overdrive in its efforts to prepare the public for a run of big budget deficits, as independent economists warn the commonwealth budget faces deep structural problems that will last for many years.
Super funds are on track to deliver the best financial-year returns since the global financial crisis, despite the recent pullback in equity markets.
Page 2: A $2 billion mineral processing plant that promised to boost South Australia’s depressed economy has become the latest victim of the contracting resources sector, with project development costs blamed for its cancellation.
Page 3: TheAustralian Sports Commission was investigating the feasibility of a TV channel for sports that don’t attract broadcasting fees from the established networks, ASC chairman John Wylie said yesterday.
Page 4: Public-private partnerships could be used to unlock private finance for new passenger rail projects, i ncluding Brisbane’s $5 billion cross-river rail and the $9bn Melbourne Metro, under a plan aimed at overcoming a shortfall of government funds for major infrastructure.
Page 5: One of the nation’s biggest construction companies is facing a Labor Party-endorsed campaign over occupational health and safety issues in the wake of a wall collapse that killed three people.
Page 7: There are no signs of a thawing in the frosty relationship between Qantas and Tourism Australia, with the NSW government yesterday becoming the recipient of $15 million that would otherwise have gone to the national body.
Business: OZ Minerals has joined the mining industry’s attack on costs in the face of the sudden and sharp fall in metal prices by freezing wages and slashing bonus payments to staff.
Manufacturers still have a long road ahead of them in adjusting to the world of a high Australian dollar, and firms in the sector need much stronger investment, Reserve Bank of Australia board member Heather Ridout says.
Australian banks’ ambitions to grow in Asia are likely to face a challenge from Japanese banks taking money printed by their central bank to build market share across the region, UBS deputy chief global economist Paul Donovan has warned.
The secret auction for the federal government’s multi-billion-dollar wireless spectrum begins today, with Optus and Telstra going head to head to acquire the invisible asset they need to evolve their mobile services.
QBE Insurance Group, which is trying to win back market confidence after a turbulent two years, has suffered a downgrade from credit ratings agency Moody’s ahead of about $1 billion in debt falling due in coming months.
Miner Coal & Allied has lodged a Supreme Court appeal against a NSW Land and Environment Court decision to overturn an approval for the Mount Thorley Warkworth mine in the Hunter Valley.
Qantas is talking with South American partner LATAM about forging a closer alliance and is also expecting a strong boost from the merger of partner American Airlines with US Airways.
Takeover target Australand says residential sales for the first three months of this year have lifted compared with the previous corresponding quarter.
The Daily Telegraph
Page 1: Divinyls frontwoman Chrissy Amphlett dies from breast cancer.
Page 2: Failure to use coal seam gas is expected to be blamed for a near 10 per cent rise in gas prices next year.
Page 3: An alleged Sydney underworld figure accused of trying to kill a 15-year-old boy and his father over a "bitter family dispute" was allowed back on the streets.
World: The widow of Boston Marathon bomber Tamerlan Tsarnaev has been described as an all-American girl brainwashed by her extremist husband.
Business: Low rates are here to stay for the next few years, a leading private sector report says.
Sport: Dave Smith is maintaining his silence and broadcaster Ray Hadley is keeping up his attack over Sunday's poor City-Country crowd at Coffs Harbour.
The Sydney Morning Herald
Page 1: Retired top soldier Peter Cosgrove has emerged as the man most likely to replace Australia's first female governor-general under a future coalition government.
Page 2: Expensive new technologies and treatments are being adopted by the health system, despite a "big black hole" in the knowledge about their long-term costs and efficacy, experts say.
Page 3: Former top FIFA official Jack Warner allegedly stole a $462,000 donation the Football Federation of Australia gave to his Caribbean football organisation in 2010, while lobbying to host the World Cup.
World: Police want answers from the seriously wounded surviving Boston Marathon suspect, amid reports he is responding in writing because of throat injuries.
Business: Australia's largest footwear retailer, Colorado, is up for sale less than two years after it came out of receivership.
Sport: The Country Rugby League has scrapped plans to take next year's City-Country clash to Broken Hill in fear of a repeat of the disappointing crowd at Coffs Harbour on Sunday.
The Age
Page 1: Homes and buildings in Melbourne's southeast could be demolished if the east-west rail tunnel is built.
Page 2: Trucks more than 30 metres long will be allowed on Melbourne freeways under a Victorian government plan.
Page 3: The time spent transferring patients from ambulances to Victorian hospitals has dramatically increased under the current state government. The family of a little girl who lost both feet and her hand to meningococcal are suing the Royal Children's Hospital for negligence.
World: The man suspected of the Boston Marathon bombing is reportedly only responding in writing to police questions because of injuries to his throat.
Business: Australia's largest footwear retailer, Colorado, is up for sale less than two years after it came out of receivership.
Sport: The AFL and ASADA investigation into performance enhancing could turn its focus to North Melbourne over the club's links with a recently stood down Melbourne official.
The Herald Sun
Page 1: A convicted drug dealer says he helped AFL and NRL footballers use performance-enhancing drugs.
Page 2: A former head of the Salesian Order in Australia has been charged with historic child sex crimes. ANZ bank spent more than $750,000 sending 75 staff members and their partners on a trip to Disneyland last week.
Page 3: Trucks more than 36 metres long will hit Victorian roads under a state government plan to move more freight.
World: Police investigating the rape of a five-year-old girl in India have arrested a second suspect.
Finance: The high Australian dollar is a dagger through the heart of key Victorian business sectors, Deloitte Access Economics says.
Sport: Geelong AFL player Daniel Menzel will fight to recover from his fourth knee operation in two years.