Today's Headlines

Cattle ban hits WA farmers

WA cattle producers face almost the entire hit from the suspension at the weekend of Australia's $24 million live cattle trade with Egypt. The West

Treasury cuts growth forecasts

Federal Treasury has downgraded its economic growth forecast for this year and next by a quarter of a percentage point, predicting a slowdown that would dent tax revenue and make it even harder to deliver a budget surplus. The Fin

Levy for parental leave to stir revolt

Tony Abbott is being urged to abandon his flagship $4.3 billion paid parental leave scheme as his allies warn that consumers will bear the brunt of the levy needed to fund the generous payments. The Aus

Tasmania hits back at Barnett dig

Tasmanian Premier Lara Giddings has returned fire after Colin Barnett criticised her state's economy, blaming WA's mining boom for pressures such as the high Australian dollar and skills shortages. The West

RBA contemplates uncharted zone

Most economists think the Reserve Bank of Australia will avoid taking the cash rate to a historic low of 2.7 per cent when its board meets on Tuesday. The Fin

 

Top Resources Headlines

More Rio jobs to go, says Walsh

Rio Tinto boss Sam Walsh says more jobs will be shed in Australia as the global miner continues to make $US5 billion in savings by the end of next year. The West

Finishing touches on contingency gas

Almost five years after WA's worst industrial disaster, Australia's biggest natural gas infrastructure business – APA Group – is putting the finishing touches to the Mondarra storage facility north of Perth. The West

Asciano spending cuts may see dividends increase

Rail and ports group Asciano will consider increasing dividends to shareholders at the end of the year after scaling back capital spending to compensate for slower-than-expected growth in its coal haulage and container ports operations. The Fin

Rio Tinto: Fiscal stability essential

Rio Tinto CEO Sam Walsh has called on the government to maintain a stable fiscal regime for businesses in the federal budget, amid expectations that several tax breaks applicable to miners are in the firing line. The Fin

 

Top Politics Headlines

Treasury cuts growth forecasts

Federal Treasury has downgraded its economic growth forecast for this year and next by a quarter of a percentage point, predicting a slowdown that would dent tax revenue and make it even harder to deliver a budget surplus. The Fin

Levy for parental leave to stir revolt

Tony Abbott is being urged to abandon his flagship $4.3 billion paid parental leave scheme as his allies warn that consumers will bear the brunt of the levy needed to fund the generous payments. The Aus

Tasmania hits back at Barnett dig

Tasmanian Premier Lara Giddings has returned fire after Colin Barnett criticised her state's economy, blaming WA's mining boom for pressures such as the high Australian dollar and skills shortages. The West

Condemn sweetheart deals: Abetz

The federal opposition will call on business to stamp out sweetheart deals with unions to buy industrial peace and promise a future Coalition government will pursue and prosecute such arrangements. The Fin

Tax fight as Swan takes on business

Wayne Swan is launching a new offensive against big business in a bid to protect the federal budget from growing tax evasion as he puts company leaders on notice to expect a global crackdown on practices that deprive Canberra of badly needed revenue. The Aus

 

Top Property Headlines

RBA contemplates uncharted zone

Most economists think the Reserve Bank of Australia will avoid taking the cash rate to a historic low of 2.7 per cent when its board meets on Tuesday. The Fin

Westpac looks for expansion on home loans

Westpac is planning to aggressively expand its mortgage book to address falling market share, suggesting competition in the $1.3 trillion home-loan market is unlikely to decrease. The Aus

Cities' design curbs economy

The economic potential of Australian cities is limited by the gap between where people work and where they live. The Fin

Investment groups to replace land barons

The coming decades are set to mark an end of an era for Perth's big property barons, who have helped to shore up local ownership of more than a fifth of the central business district. The West

 

The West Australian

Page 1: Almost half of the parents of WA public school students failed to pay their school fees last year and principals fear this further disadvantages students from poorer areas.

Page 3: WA cattle producers face almost the entire hit from the suspension at the weekend of Australia's $24 million live cattle trade with Egypt.

Page 4: The nation's manufacturers have urged Treasurer Wayne Swan to deliver a budget deficit, led by a cut in company tax, fearing further cuts in government spending will cripple the economy.

Towns across regional WA will get earlier than expected access to the NBN but only if the Gillard government is returned at the election.

Page 5: The state government is on the cusp of a u-turn on its approach to crime prevention with a 50 per cent lift in eraly intervention programs.

Page 6: The coming decades are set to mark an end of an era for Perth's big property barons, who have helped to shore up local ownership of more than a fifth of the central business district.

Page 9: One of the biggest and most complex transport projects in WA history has entered a new phase with work starting on the underground rail for the Perth City Link.

Page 14: Tasmanian Premier Lara Giddings has returned fire after Colin Barnett criticised her state's economy, blaming WA's mining boom for pressures such as the high Australian dollar and skills shortages.

Business: CBH has declared war on critics of the co-operative as it prepares and aggressive strategy to take the fight to the multinational companies growing more active in the Australian grains industry.

Rio Tinto boss Sam Walsh says more jobs will be shed in Australia as the global miner continues to make $US5 billion in savings by the end of next year.

Almost five years after WA's worst industrial disaster, Australia's biggest natural gas infrastructure business – APA Group – is putting the finishing touches to the Mondarra storage facility north of Perth.

Australian banks are performing better than many of their overseas peers and local banking stocks are still good value, ANZ chief executive Mike Smith says.

 

The Australian Financial Review

Page 1: Federal Treasury has downgraded its economic growth forecast for this year and next by a quarter of a percentage point, predicting a slowdown that would dent tax revenue and make it even harder to deliver a budget surplus.

GrainCorp chairman Don Taylor believes Australia has lost the chance to create a global agricultural champion following a stunning four-year raid by foreign companies.

Coles managing director Ian McLeod has singled out Coca-Cola Amatil as part of an attack on multinational suppliers, saying Australian consumers are still paying too much for groceries.

Page 4: Most economists think the Reserve Bank of Australia will avoid taking the cash rate to a historic low of 2.7 per cent when its board meets on Tuesday.

Communications Minister Stephen Conroy blamed construction contractors for delays to the national broadband network and lashed out at experts who say the government's new roll-out targets are empty election promises.

Page 5: The federal opposition will call on business to stamp out sweetheart deals with unions to buy industrial peace and promise a future Coalition government will pursue and prosecute such arrangements.

Page 6: The Gillard government may not have ruled out revisiting cheaper proven foreign submarines for a new fleet despite its election pledge to design and build the vessels in Adelaide.

Page 10: Governments are better off reforming industrial relations laws rather than writing cheques to companies so those companies can remain operational, Victorian Treasurer Michael O'Brien says.

Page 12: Companies are saving the equivalent of $100 for every tonne of emissions they have reduced in the push to become more energy efficient, a report into the Energy Efficiency Opportunities program shows.

Page 13: The suspension of live cattle exports to Egypt could cost Australia up to $50 million a year.

Page 15: Rio Tinto CEO Sam Walsh has called on the government to maintain a stable fiscal regime for businesses in the federal budget, amid expectations that several tax breaks applicable to miners are in the firing line.

Rail and ports group Asciano will consider increasing dividends to shareholders at the end of the year after scaling back capital spending to compensate for slower-than-expected growth in its coal haulage and container ports operations.

Page 17: ANZ Banking Group chief Mike Smith says the share prices of Australian banks can “probably be justified” and while they are being pushed higher by the vast amounts of liquidity being pumped into the financial system bank shares are “not in the stratosphere yet”.

Page 41: The economic potential of Australian cities is limited by the gap between where people work and where they live.

 

The Australian

Page 1: Tony Abbott is being urged to abandon his flagship $4.3 billion paid parental leave scheme as his allies warn that consumers will bear the brunt of the levy needed to fund the generous payments.

Farm leaders are urging states to sign up to a $420 million federal rescue package as more than 1000 graziers prepare for a crisis meeting tomorrow, desperate for help to deal with worsening drought.

Wayne Swan is launching a new offensive against big business in a bid to protect the federal budget from growing tax evasion as he puts company leaders on notice to expect a global crackdown on practices that deprive Canberra of badly needed revenue.

The centrepiece of the Gillard government’s gender pay equality strategy has been savaged by a peak welfare group as seriously inadequate and exposing the sector to structural dysfunction.

Page 3: Millions of Australians living on the fringes of the nation’s largest cities will be the ‘‘most vulnerable of vulnerable’’ in any recession after 21 years of economic growth masked the increasing polarisation of urban centres.

Page 4: A UN agency has turned up the heat on Queensland to slow coal port development, despite deferring a decision on whether to list the Great Barrier Reef as endangered.

Page 5: Prison officers in Western Australia must swear statutory declarations to explain time off as part of the Barnett government’s efforts to rein in growing absenteeism that has doubled the Department of Corrective Services’ insurance premiums from $11.5 million to $23m in the past three years.

Page 6: The Gillard government has reignited the political fight over the National Broadband Network, saying that 1.3 million homes scheduled to be connected to the $37.4 billion project in 2016 will miss out on high-speed fibre connections if the Coalition is elected.

Page 7: Queensland is poised to become the next state to sign on to the national disability insurance scheme, with Premier Campbell Newman ready to accept Julia Gillard’s verbal offer of a funding deal.

Labor's flagship national disability insurance scheme will falter if 457 visas and a ‘‘radical’’ overhaul of skills training in the care sector are not enforced now, according to a peak industry group.

Business: The chairman of the company that makes and markets some of the nation’s best-known apparel brands has warned of the ‘‘all pervasive’’ power of Coles and Woolworths in the retail sector, predicting the disappearance of a number of well-known local and international brands in the coming years.

Macquarie's bankers will be among the biggest winners from the decision to sharply lift dividends this year after a change in remuneration policy that has dramatically increased their holding of shares in Macquarie Group.

The financial markets’ confident prediction of a rate cut at tomorrow’s Reserve Bank board meeting is unlikely to be fulfilled.

Westpac is planning to aggressively expand its mortgage book to address falling market share, suggesting competition in the $1.3 trillion home-loan market is unlikely to decrease.

The promoters of this year’s first substantive local listing expect to overcome the poor record of private equity sell-downs, with fund managers and brokers flocking to investor briefings ahead of Friday’s prospectus release.

Archer Daniels Midland is holding out the prospect of better grain grower returns as a result of being plugged into a global supply chain as it works to win support for its $3.4 billion takeover of GrainCorp.

 

The Daily Telegraph

Page 1: John Singleton says he will remain friends for life with Gai Waterhouse, with a stewards' inquiry into the performance of racehorse More Joyous to resume on Monday. The Tweed in the northern NSW and Cairns in Queensland have the highest numbers of "vaccine refusers" in the country.

Page 2: Singo says his friendship with Gai Waterhouse isn't fractured forever.

Page 3: NRL immortal Andrew Johns will not front the stewards' inquiry, according to his manager.

World: (London) A Tory MP has been arrested on suspicion of raping two men.

Business: More airline customers are paying for tickets using BPAY to avoid credit card surcharges.

Sport: NSW skipper Paul Gallen injured his knee while playing for Cronulla on Sunday.

 

The Sydney Morning Herald

Page 1: A parliamentary inquiry has recommended that tobacco, gaming and alcohol interests be again allowed to donate to political parties in NSW. Sydney cab fares could be cut under proposals being put by the pricing regulator.

Page 2: A product that claims it can teach babies to read from three months old is being sold in Australia despite its makers facing legal action in the US. Wayne Swan is consulting with Russia and Britain on how to crack down on multinational profit shifting.

Page 3: A proposed design for James Packer's hotel and casino at Barangaroo has been labelled an "assault on the public interest" by the state's peak architectural group.

World: (Syria) Israeli jets seem to have attacked a military base in Syria.

Business: A company that supplied fake MAC cosmetics to Target has appeared to have vanished.

Sport: Paul Gallen injured his knee in the Sharks' win over Newcastle on Sunday.