24/04/2013 - 06:52

Today's Headlines

24/04/2013 - 06:52

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Today's Headlines

Power firms warn Abbott on carbon

Power companies are demanding the federal opposition rethink its “direct action” plan for reducing carbon emissions, warning that its company baseline approach could be more difficult to operate than Labor's trading scheme. The Fin

Resources investors demand big payday

Investors are urging resources companies to return billions of dollars more capital to shareholders as they cut costs and scale back projects after Woodside Petroleum boosted its dividends. The Fin

Palmer royalty wedge on Citic

Clive Palmer will look to use a $400,000 royalty dispute to seize control of Citic Pacific’s $7 billion Sino Iron magnetite mine in the Pilbara of Western Australia. The Aus

Newcrest slams high WA cost of operating

Australia's biggest gold producer has taken a stunning swipe at the high cost of operating in WA, warning that a $230 million. The West

Fierce battle for home listings

Competition in Perth's housing market is so fierce that real estate agents are offering gift vouchers and other enticements to would-be sellers. The West

 

 

Top Resources Headlines

Resources investors demand big payday

Investors are urging resources companies to return billions of dollars more capital to shareholders as they cut costs and scale back projects after Woodside Petroleum boosted its dividends. The Fin

Palmer royalty wedge on Citic

Clive Palmer will look to use a $400,000 royalty dispute to seize control of Citic Pacific’s $7 billion Sino Iron magnetite mine in the Pilbara of Western Australia. The Aus

Newcrest slams high WA cost of operating

Australia's biggest gold producer has taken a stunning swipe at the high cost of operating in WA, warning that a $230 million investment in its Telfer mine in the Pilbara would not have happened in today's setting. The West

Norilsk workers in pay threat

Workers at Norilsk Nickel's Lake Johnston mine are threatening legal action against the company over unpaid bonuses as the company prepares to shut down its remaining operations. The West

 

Top Politics Headlines

Power firms warn Abbott on carbon

Power companies are demanding the federal opposition rethink its “direct action” plan for reducing carbon emissions, warning that its company baseline approach could be more difficult to operate than Labor's trading scheme. The Fin

New aid package for farmers

Wheatbelt grain growers have been warned to expect minimal direct financial support from the state government after a meeting between Premier Colin Barnett and WA's two leading farm lobby groups yesterday. The West

BCA leads attack on Coalition parental leave

The Business Council of Australia has joined the chorus of corporate condemnation of Tony Abbott's plan to increase company tax to fund paid parental leave, saying “it defies economic sense”. The Fin

NSW schools to receive extra $5bn

The conservative states of Queensland, Victoria and Western Australia say they are no closer to signing up to Julia Gillard's school funding reforms despite the prime minister securing the support of the most populous state, NSW. The Fin

 

Top Property Headlines

Fierce battle for home listings

Competition in Perth's housing market is so fierce that real estate agents are offering gift vouchers and other enticements to would-be sellers. The West

Perth developer to appeal damning tribunal ruling

Perth developer Psaros Builders will appeal a damning State Administrative Tribunal finding that it cut costs and failed to properly waterproof the basement of a mixed-use building on Newcastle Street. The West

City retailers attack parking fee rise

Perth businesses fear a parking fee increase will force customers out of the city and back into suburban centres. The West

Property neither boom nor gloom

The housing market has entered a “new normal” of slower growth, increased periods of falling prices and weaker banking profits that justify tougher regulatory oversight, according to a senior Reserve Bank of Australia official. The Fin

Median house prices on the rise

Growing competition among home-buyers has pushed median house prices around the country to within 1 per cent of peak levels. The Fin

 

The West Australian

Page 3: Rottnest Island's main jetty is riddled with concrete cancer and sinkholes and needs to be repaired as part of a multimillion-dollar upgrade of the islands deteriorating boating infrastructure.

Page 7: Competition in Perth's housing market is so fierce that real estate agents are offering gift vouchers and other enticements to would-be sellers.

Page 9: Wheatbelt grain growers have been warned to expect minimal direct financial support from the state government after a meeting between Premier Colin Barnett and WA's two leading farm lobby groups yesterday.

Frustrated cafe owners have fired the latest salvo in Perth's coffee wars, saying customers who complain about the price do not understand what goes into a cup of coffee.

Page 10: Perth businesses fear a parking fee increase will force customers out of the city and back into suburban centres.

Tourism authorities forecast lower airfares, more competition on Perth routes and major tourism benefits after the competition watchdog yesterday gave Virgin Australia approval to take over Tiger Australia.

Page 14: The Business Council of Australia has slapped down Tony Abbott's claim that some big companies would be better off paying more company tax if it meant they could ditch their own in-house paid parental leave schemes.

Page 34: WA faces an uphill battle to meet recycling targets set just last year, prompting renewed calls for the state government to consider a cash-for-containers recycling scheme or higher landfill levies.

Business: Australia's biggest gold producer has taken a stunning swipe at the high cost of operating in WA, warning that a $230 million investment in its Telfer mine in the Pilbara would not have happened in today's setting.

Flush with Pluto LNG cash, Woodside Petroleum has offered shareholders the perfect fillip leading into today's annual meeting by declaring it would return $US519 million of surplus funding by way of special dividend.

Workers at Norilsk Nickel's Lake Johnston mine are threatening legal action against the company over unpaid bonuses as the company prepares to shut down its remaining operations.

Campbell Baird, the man who oversaw Focus Minerals' growth-through-acquisition drive but left in February once a Chinese white knight rescued his cash-strapped gold miner, has emerged as a surprise player in the battle for control of Intrepid Mines.

Besieged rural land dealer Michael King has failed to shake off bankruptcy after a judge downplayed his claims to have $3.5 million coming from a deal involving a son of iron ore heiress Angela Bennett.

Up to 150 jobs are on the chopping block after troubled gold producer Tanami Gold put its Coyote mine on ice yesterday as part of a wide-ranging corporate restructure.

Brownes has again put the squeeze on its milk processing competitors in WA by increasing the farm gate price for dairy farmers.

Lawyers for China's CITIC Pacific have rejected suggestions it could lose the right to mine its $7 billion Pilbara magnetite project over a royalty dispute with Clive Palmer's Mineralogy, saying the Chinese group was always prepared to pay the royalty.

Perth developer Psaros Builders will appeal a damning State Administrative Tribunal finding that it cut costs and failed to properly waterproof the basement of a mixed-use building on Newcastle Street.

 

 

The Australian Financial Review

Page 1: Power companies are demanding the federal opposition rethink its “direct action” plan for reducing carbon emissions, warning that its company baseline approach could be more difficult to operate than Labor's trading scheme.

Investors are urging resources companies to return billions of dollars more capital to shareholders as they cut costs and scale back projects after Woodside Petroleum boosted its dividends.

Page 3: The housing market has entered a “new normal” of slower growth, increased periods of falling prices and weaker banking profits that justify tougher regulatory oversight, according to a senior Reserve Bank of Australia official.

Page 4: The Business Council of Australia has joined the chorus of corporate condemnation of Tony Abbott's plan to increase company tax to fund paid parental leave, saying “it defies economic sense”.

Page 5: The conservative states of Queensland, Victoria and Western Australia say they are no closer to signing up to Julia Gillard's school funding reforms despite the prime minister securing the support of the most populous state, NSW.

Page 6: Fair Work Australia is investigating top union official Jim Metcher over allegations he kept almost $500,000 in board fees from the Australia Post Superannuation Scheme that was meant to be used for members.

Page 7: Standard & Poor's has warned that Australia's AAA rating could be vulnerable in five years if the credit ratings agency doubts the government's commitment to restoring the surplus, national debt keeps rising and the economy fails to self-correct.

Page 9: Fashion designer Kim Ellery can now supply Myer and David Jones with her high-end clothes, in an industry first, but both retailers are adamant the days of exclusive supply are far from over.

Page 13: Aurizon chief executive Lance Hockridge has called for Australia to “get real” on infrastructure development and expand existing port and rail networks instead of spending billions on new projects like the east coast's proposed high speed rail line.

More than 80 per cent of Australian company directors believe the Gillard government does not understand business but the news is not much better for Tony Abbott's Coalition either.

Page 14: Woodside Petroleum's decision to reframe its future as a high-yield company has reignited debate over the intentions of its Royal Dutch Shell $7 billion stake.

Page 15: Newcrest Mining has cut 150 staff from its Brisbane and Melbourne offices and managing director Greg Robinson has promised to be “stingy” in allocating capital amid the strong Australian dollar, a falling gold price and the weak state of markets.

Page 16: OM Holdings chief executive Peter Toth remains positive about the outlook for the manganese industry, despite major miners like BHP Billiton and Vale Australia reviewing some assets for possible sale.

A Supreme Court judge says there is a “slight degree of unreality” about a case launched by Queensland mining billionaire Clive Palmer against the Chinese owners of the Sino Iron magnetite project.

Page 20: Intrepid Mines is under pressure to prove its strategy as shareholders agitate to overthrow the Indonesia-focused explorer's board in an effort to reach a settlement over a disputed $5 billion copper and gold project.

Page 34: Growing competition among home-buyers has pushed median house prices around the country to within 1 per cent of peak levels.

 

 

The Australian

Page 1: A $1.2 billion plan to lift the wages of aged-care workers has been dealt a blow, with nearly half of the aged-care facilities operated by Australia’s largest not-for-profit provider indicating they are unlikely to sign the deal.

Ratings agency Standard & Poor’s has warned that Australia’s AAA credit rating will come under threat if the government does not show a commitment to eliminating the budget deficit.

Page 2: The rapid upward trend in housing prices is at an end, with the Reserve Bank forecasting that growth will be slower than over the previous 30 years.

Page 3: Employers have warned the states they could face legal action by unions as a result of the Gillard government signing up to an international convention on child labour.

There will be more budget air fares on more routes following a decision by the competition watchdog not to oppose Virgin Australia’s deal to take a 60 per cent stake in Tiger Airways Australia.

Page 4: Federal taxpayers will continue to fund the collection of garbage and sanitation in 340 remote indigenous communities after the failure for the second straight year of the states and territories to agree to take over the program.

An independent economic study commissioned by an animal welfare lobby group has conceded that saleyard prices paid to farmers would plunge by $28 a sheep if the live export trade to the Middle East was axed.

Page 5: The wheat harvest is facing a tough start, with the Bureau of Meteorology predicting the southern Australian grain belt will receive much less rain than usual in the next three months.

Page 6: Labor has toughened its mutual obligation regime, giving the unemployed only one chance to explain any missed commitment before their dole is docked.

Julia Gillard has had a real win with the NSW Coalition government signing the $5 billion deal for extra money to implement school reforms.

Just 8 per cent of the nation’s company directors believe the Gillard government understands business, while 50 per cent believe the opposition does, a new survey has found.

Page 7: A federal push for the nationwide removal of asbestos from government and commercial buildings by 2030 would cost billions of dollars, could see rogue operators removing it and could lead to a surge in illegal dumping of the deadly fibre, the Queensland government warns.

Page 8: A former union employee who has told of depositing $5000 into Julia Gillard’s bank account at the direction of her allegedly corrupt union boss boyfriend has been asked by Victoria Police to make a formal statement as part of an ongoing fraud investigation.

Business: Woodside Petroleum has bowed to shareholder pressure and reinvented itself as a highyield investment proposition, in a move that could pave the way for a selldown of Royal Dutch Shell’s major stake in the company.

Private equity investment fund Quantum Pacific has moved on embattled company Intrepid Mines, seeking to overhaul the board and take control in a bid to secure a direct interest in its controversial Indonesian project.

Virgin Australia’s plan to take a 60 per cent stake in Tiger Airways Australia is forging ahead after the competition watchdog decided it was ‘‘highly likely’’ the Singaporean-backed budget carrier would close its Australian operations if it opposed the deal.

Sharp falls in gold and copper prices have prompted Newcrest to intensify its cost-cutting and capital discipline efforts.

China's manufacturing sector is showing signs of a pronounced slowdown, renewing fears that the recovery of the world’s second largest economy will be weaker than expected.

Clive Palmer will look to use a $400,000 royalty dispute to seize control of Citic Pacific’s $7 billion Sino Iron magnetite mine in the Pilbara of Western Australia.

 

The Sydney Morning Herald

Page 1: Prime Minister Julia Gillard is hopeful of rescuing her national funding arrangement for school education after NSW became the first state to sign up for the multibillion-dollar offer.

Page 2: Police have launched a murder inquiry into the death of 32-year-old Sydney woman Kate Malonyay, who was found dead in her Mosman home.

Page 3: After years of pain from surging power prices, relief is in sight thanks to the decision to link the carbon price to the European market.

World: Two men have been arrested in Canada in connection with what police say was a plot backed by al-Qaeda to derail a passenger train in Toronto.

Business: Virgin Australia will move swiftly to try to stem large losses at Tiger Australia by installing a new chief executive for the budget airline and redeploying planes to more profitable routes.

Sport: Todd Greenberg has vowed to keep All Blacks star Sonny Bill Williams in rugby league, when he takes on his new role as the NRL's head of football.

 

The Daily Telegraph

Page 1: Police have launched a murder hunt after Kate Malonyay was found dead in her unit on Sydney's north shore after she failed to turn up for work.

Page 2: A leaked memo shows senior federal Labor staffers have been given a golden handshake worth up to $6000 each to stop them for jumping ship before the election.

Page 3: Climate Change minister Greg Combet will be questioned about a letter he wrote endorsing a controversial training mine proposal as he becomes yet another politician ordered into the ICAC witness stand next week.

World: The FBI's most wanted man, a former school teacher wanted over child pornography charges, has been arrested in Nicaragua.

Business: A majority of hotels will close their restaurants on Anzac Day claiming they cannot afford the extra labour costs.

Sport: Todd Greenberg has dismissed claims he wants to replace besieged NRL chief executive Dave Smith.

 

The Age

Page 1: The Victorian government is dramatically lifting its spending on temporary workers and contractors in the public sector to nearly $1 billion.

Page 2-3: A 13-week process to deal with unsatisfactory teacher performance has been included in the proposed Victorian enterprise bargaining agreement for the first time. Prime Minister Julia Gillard will use the education funding agreement with NSW to pressure other states to signing. A judge has refused to preside over a serious criminal trial unless Victoria Legal Aid can fund solicitors to attend court when they are needed.

World: Boston bomb suspect Dzhokhar Tsarnaev has been charged with using a weapon of mass destruction and could face the death penalty if convicted.

Business: Virgin Australia to forge ahead with its bid for a controlling stake in Tiger Australia.

Sport: The ruling that a substance at the centre of the Essendon and Melbourne AFL doping investigations is officially banned will not alter the legal and moral defence of the players.

 

The Herald Sun

Page 1: The murder of an elderly couple at Wangaratta has triggered a manhunt.

Page 2: Police are escalating their investigation into the union scandal involving Prime Minister Julia Gillard's former boyfriend. Federal Labor ministerial staffers have been offered golden handshakes worth up to $6000 each in a bid to stop them jumping ship.

Page 3: A 404-metre skyscraper has been proposed for Melbourne's CBD. Former AFL agent Ricky Nixon has appeared in a Melbourne court. Labor is backing a union campaign aimed at construction company Grocon.

World: A city-wide minute of silence has been held in honour of victims of the Boston Marathon bombing.

Business: Virgin has been granted approval for its partial takeover of Tiger Airways.

Sport: St Kilda looks certain to play two AFL games a year in New Zealand.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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