Labor axes carbon price tax cuts
Labor's carbon package is in tatters, with $1.4 billion of tax cuts scheduled for 2015 to be dumped in next Tuesday's budget, and cuts to clean-energy initiatives, because a slump in the European carbon price has forced Treasury to halve the revenue expected from the sale of carbon permits. The Fin
Rates set to fall again
Home and business owners could get more interest rate cuts after the Reserve Bank made a surprise move to shield the economy from damage caused by the strong Australian dollar. The West
New eyes look over Browse gas venture
Woodside Petroleum is rapidly moving to reorganise responsibilities for the now-shelved Browse gas venture in a transition that also sees the departure of the company's well-regarded senior vice president for Browse, Mike Hession. The Fin
Rio could cut $US3bn in expansion costs, says Deutsche Bank
Rio Tinto could cut up to $US3 billion from the remaining spending on a planned iron ore expansion to 360 million tonnes by expanding existing mines rather than building new ones, says Duetsche Bank. The Fin
Fears Perth property prices will overheat
WA homeowners have reason to welcome yesterday's interest rate cut but opinions are divided on whether the move will put further pressure on Perth's housing market and push prices higher. The West
Top Resources Headlines
New eyes look over Browse gas venture
Woodside Petroleum is rapidly moving to reorganise responsibilities for the now-shelved Browse gas venture in a transition that also sees the departure of the company's well-regarded senior vice president for Browse, Mike Hession. The Fin
Rio could cut $US3bn in expansion costs, says Deutsche Bank
Rio Tinto could cut up to $US3 billion from the remaining spending on a planned iron ore expansion to 360 million tonnes by expanding existing mines rather than building new ones, says Duetsche Bank. The Fin
Clough, Coens tie-up to target business in Asia
Oil and gas specialist Clough is looking beyond its traditional markets by targeting the fabrication business in Asia through a tie-up with a South Korean services company. The West
Origin willing to work with rival
Origin Energy chief executive Grant King says he is open to working with rival gas venture Arrow LNG on the company's APLNG project as expectations rise that Arrow owners Shell and PetroChina may consolidate with other project promoters in Queensland. The Fin
Top Politics Headlines
Labor axes carbon price tax cuts
Labor's carbon package is in tatters, with $1.4 billion of tax cuts scheduled for 2015 to be dumped in next Tuesday's budget, and cuts to clean-energy initiatives, because a slump in the European carbon price has forced Treasury to halve the revenue expected from the sale of carbon permits. The Fin
Abbott's parental leave scheme may cost $5bn
The Coalition's paid parental leave scheme would cost more than $5 billion a year- $2 billion more than estimated at the last election – says the Parliamentary Budget Office. The Fin
Confidence motion looms
The federal Coalition will forge ahead with plans to try to force the collapse of the government as early as next week by moving a motion of no-confidence when Parliament resumes. The Fin
Family tax increase bites dust
Wayne Swan is being tipped to unveil four consecutive deficits in next weeks budget, amid confirmation the government has abandoned key family-friendly pledges in response to revenue shortfalls. The West
Top Property Headlines
Rates set to fall again
Home and business owners could get more interest rate cuts after the Reserve Bank made a surprise move to shield the economy from damage caused by the strong Australian dollar. The West
Fears Perth property prices will overheat
WA homeowners have reason to welcome yesterday's interest rate cut but opinions are divided on whether the move will put further pressure on Perth's housing market and push prices higher. The West
ALP puts $1bn more in affordable housing
The federal government has committed another $1 billion to build 10,000 homes for low-income earners even though its troubled affordable housing scheme has fallen well short of its own targets. The Aus
Urban rezoning heats up
The Urban Development Institute of Australia says concerns are growing that the state government is enforcing an unofficial urban growth boundary around the southern outskirts of the Peel region that could quarantine viable land developments until after 2031.The West
'Resort-oasis' planned to revive Scarborough
A multimillion dollar resort-style venue with pools, cabanas and palm trees is proposed for Scarborough beachfront. The West
The West Australian
Page 1: Home and business owners could get more interest rate cuts after the Reserve Bank made a surprise move to shield the economy from damage caused by the strong Australian dollar.
Page 3: One of WA's most prominent pastoral families is in negotiations with an Indonesian government-backed syndicate that wants to invest in their massive Kimberley cattle station, 100km east of Broome.
The federal opposition says the government's mishandling of the live cattle trade has left owners of northern cattle stations exposed to Indonesian buyers.
Page 4: WA homeowners have reason to welcome yesterday's interest rate cut but opinions are divided on whether the move will put further pressure on Perth's housing market and push prices higher.
Page 13: WA shield laws strengthened a legal bid by The West Australian and a senior journalist to fight “oppressive” subpoenas from mining billionaire Gina Rinehart, the Supreme Court was told yesterday.
Page 16: A multimillion dollar resort-style venue with pools, cabanas and palm trees is proposed for Scarborough beachfront.
Former WA Liberal leader Bill Hassell has hit out at Opposition Leader Tony Abbott's support for recognising local government in the constitution, warning a proposed referendum will pit Liberals against each other during the election campaign.
Page 18: Wayne Swan is being tipped to unveil four consecutive deficits in next weeks budget, amid confirmation the government has abandoned key family-friendly pledges in response to revenue shortfalls.
Business: Micheal Hession, the Woodside Petroleum executive who has been in charge of the Browse LNG project for the past 3½ years, has quit, just weeks after the company axed plans to develop a gas processing hub at James Price Point in favour of a floating operation.
Oil and gas specialist Clough is looking beyond its traditional markets by targeting the fabrication business in Asia through a tie-up with a South Korean services company.
Richard Branson won't rule out selling more of Virgin Australia to bolster the airline's share register with other strategic partners.
Page 7: The Reserve Bank's move to cut interest rates to record lows yesterday could pave the way for an expansion of Rio Tinto's gypsum operations in WA, as the housing market rebounds.
At a time when mining companies are finding it tough to convince investors to tip in more funds, law firm Slater & Gordon is confident it will be able to raise $63.9 million to help fund an expansion into Britain.
SFG Australia has axed its proposed merger of equals with WHK Group, the parent of Perth firm Crowe Horwath, ending seven months of talks between the two about creating one of the country's biggest integrated accountancy and financial planning groups.
The Urban Development Institute of Australia says concerns are growing that the state government is enforcing an unofficial urban growth boundary around the southern outskirts of the Peel region that could quarantine viable land developments until after 2031.
Chevron has renewed its office lease at QV1 office tower, ending market speculation that it was likely behind the construction of one of the first waterfront towers at Elizabeth Quay.
The Australian Financial Review
Page 1: The Reserve Bank of Australia has joined the intensifying global currency war by cutting official interest rates to a record low, a move designed to alleviate some of the damage to the economy from the high dollar.
The Coalition's paid parental leave scheme would cost more than $5 billion a year- $2 billion more than estimated at the last election – says the Parliamentary Budget Office.
Labor's carbon package is in tatters, with $1.4 billion of tax cuts scheduled for 2015 to be dumped in next Tuesday's budget, and cuts to clean-energy initiatives, because a slump in the European carbon price has forced Treasury to halve the revenue expected from the sale of carbon permits.
Page 2: Virgin Group founder Richard Branson has denied he is on a “selling spree” of Australian assets but left open the possibility of selling his entire stake in Virgin Australia.
Page 3: Union leader Paul Howes will blast Labor, the Coaliton and the Greens for siding with “extremist” landholders and others fighting coal seam gas extraction, saying the political parties owe it to the nation at large to exploit its resources.
Page 4: Deputy Liberal leader Julie Bishop has urged the resources industry to try to win public support for the politically sensitive case for nuclear energy.
Page 6: The federal Coalition is considering a formal investigation into the government's spectrum auctions after about one third of the airspace as not sold, leaving a $1 billion hole in next year's budget.
Page 7: The federal government has been urged to buy 100,000 head of cattle, worth up to $50 million, as part of a United States-style aid-for-food plan to help local farmers.
The federal Coalition will forge ahead with plans to try to force the collapse of the government as early as next week by moving a motion of no-confidence when Parliament resumes.
Page 8: The major banks have moved swiftly to pass on the Reserve Bank of Australia's interest rate cut in full, heading off a potentially damaging public and political backlash as their profits soar.
Page 9: Prices for houses and apartments have improved since the last interest rate cut in December but after lacklustre price growth and weak housing approvals, the industry is relieved some banks quickly passed on the full official cut and hope the rest will too.
Page 15: Coca-Cola Amatil chief executive Terry Davis has lashed out at major retailers after foreshadowing the bottler's first fall in first-half earnings for seven years.
Telstra's rivals insist they will be competitive in the next phase of super-fast 4G mobile services, despite being outspent by the dominant carrier at critical wireless spectrum auctions.
Page 17: Woodside Petroleum is rapidly moving to reorganise responsibilities for the now-shelved Browse gas venture in a transition that also sees the departure of the company's well-regarded senior vice president for Browse, Mike Hession.
Rio Tinto could cut up to $US3 billion from the remaining spending on a planned iron ore expansion to 360 million tonnes by expanding existing mines rather than building new ones, says Duetsche Bank.
Origin Energy chief executive Grant King says he is open to working with rival gas venture Arrow LNG on the company's APLNG project as expectations rise that Arrow owners Shell and PetroChina may consolidate with other project promoters in Queensland.
Page 39: Oil and gas major Chevron has signed a new 10-year lease for almost half of Perth's premium QV1 building.
The Australian
Page 1: People-smugglers are increasingly loading women and children onto unseaworthy boats, with up to 40 per cent of all passengers now part of family groups.
The Reserve Bank has seized the economic initiative a week before the federal budget by cutting rates to a record low of 2.75 per cent in an effort to deliver stimulus to business and consumers and offset damage caused by the high Australian dollar.
Page 2: Labor has been warned that it will create a social underclass by releasing asylum-seeker families into the community on bridging visas to fend for themselves without the right to work.
The chief executive of one of the biggest contractors handling the $37 billion National Broadband Network, Silcar, has resigned as problems surrounding the scheme continue to mount.
Page 5: Desperate Queensland cattlemen have appealed to the federal government to step in and buy 100,000 cattle at a guaranteed minimum price to stop an imminent collapse of the $12 billion Australian beef industry
The federal government has committed another $1 billion to build 10,000 homes for low-income earners even though its troubled affordable housing scheme has fallen well short of its own targets.
Page 6: Tony Abbott faces a new firestorm on gender equity as Labor mobilises its supporters against him for claiming his $4.3 billion parental leave scheme would help women with the ‘‘calibre’’ to finish higher education.
The major banks, under pressure to reward homeowners after recent record profits and the sharp improvement in wholesale funding costs, yesterday rushed to pass on in full the Reserve Bank’s cut in official rates to a record low 2.75 per cent.
Employers are being warned against using one of Labor’s long-promised business tax breaks as slow progress in parliament raises doubts over when the $700 million idea will come into force.
Business: The Reserve Bank is being drawn reluctantly into the global currency wars, surprising economists and financial markets yesterday by cutting rates to a record low largely to take pressure off the stubbornly high Australian dollar.
Goldman Sachs is drawing on the experience of its specialist anti-raider unit in New York to help prepare Australian corporate clients for an expected wave of shareholder activism.
Virgin Australia founder Richard Branson has indicated that he could sell his remaining stake in the airline at the right price.
Listed legal practice Slater & Gordon has unveiled a $63.9 million equity raising to purchase three more British law firms and build a war chest for its drive to dominate that country’s market for personal injury claims.
Troubled surf, ski and skatewear group Billabong is expected to reveal the final outcome of takeover negotiations with US private equity fund Sycamore Partners tomorrow, bringing an end to 15 months of uncertainty.
The Daily Telegraph
Page 1: 13-year-old Madeline Milne, who was victimised after confronting schoolyard bullies, is thought to be the youngest person in NSW to commit suicide. Families with annual incomes of $130,000 will pay $1000 more in cost-of-living expenses next year due to the Medicare levy and the carbon tax.
Page 2: The parents of a 13-year-old girl who committed suicide, thought to be the youngest ever in NSW to do so, don't think she meant to kill herself.
Page 3: John Singleton has demanded an apology from Andrew Johns for his part in the More Joyous race horse scandal.
World: A 93-year-old who allegedly served as a Auschwitz prison guard as part of the SS Death's Head battalion has been arrested in Germany.
Business: The Reserve Bank has cut the cash rate to 2.75 per cent, an historic low.
Sport: Support is growing among the inner circles of the NRL for an amnesty on drug users to push investigations along.
The Sydney Morning Herald
Page 1: The Reserve Bank has cut its cash rate to 2.75 per cent, the lowest in more than 50 years, driven by deep concern for the high Australian dollar.
Page 2: The misogyny war has been reignited by Labor after senior government ministers attacked opposition leader Tony Abbott for his comment that women of the "calibre" of a university education should be encouraged to have families and careers.
Page 3: Only four per cent of additional "Gonski" money will be given to NSW schools next year, with the bulk of the funding to be passed on in the following five years.
World: Three women who vanished separately in the US 11 years ago have been rescued by police after one managed to attract the attention of a man living in the house next to where she and the other women had been imprisoned.
Business: The Reserve Bank has dropped its cash rate by 25 basis points to 2.75 per cent, the lowest in more than 50 years.
Sport: Football Federation Australia, Sydney FC and Alessandro Del Piero are expected to clash over the 38-year-old Italian soccer star's eligibility for a match between Manchester United and the A-League All Stars team.
The Age
Page 1: Napthine government has tied its political fortunes to the multibillion-dollar East-West toll road in a budget that unleashes $6.1 billion of infrastructure spending.
Page 2: Victoria Legal Aid restoring funding for solicitors, to free up the log-jam forming in the justice system. Two Crown bouncers found guilty of attacking a couple enjoying a night out at the casino.
Page 3: The stubbornly high Australian dollar prompts Reserve Bank to cut interest rates.
World: Three women who disappeared 10 years ago escape from their imprisonment in a suburban Cleveland house in the US.
Business: Reserve Bank takes the heat out of the $A by cutting the cash rate to its lowest level in more 50 years.
Sport: Just how much contact can players use in contesting a mark is a blurry issue in the AFL that is confusing coaches, players and supporters.
