Today's Headlines

LNG costs risk $150 billion

The world’s biggest energy companies have warned Australia has less than two years to fix the high cost of building big projects or risk being frozen out of a new $150 billion wave of global investment in liquefied natural gas-­supply. The Fin

Banks to pass on cost of parental leave

The nation’s four major banks are increasingly hostile to the Coalition’s $4.3 billion paid parental leave scheme, warning that shareholders and customers will ultimately pay for the $400 million-plus cost to the industry. The Aus

Perth pays to keep rural power price down

Households in Perth and the South West are facing further electricity price rises after the Barnett government increased the cross-subsidy paid to remote power companies by almost $170 million. The West

Gas producers reject calls to reserve

Gas producers Santos and Origin have rejected manufacturers calls for domestic gas reservation amid a forecast doubling of gas prices by 2020. The Fin

Skills shortage likely if building booms

The construction and property services industry – the economy's third-biggest employer – faces a skills shortage of 45,000 workers in the next three years because of a forecast rebound in residential building. The Fin

Top Resources Headlines

LNG costs risk $150 billion

The world’s biggest energy companies have warned Australia has less than two years to fix the high cost of building big projects or risk being frozen out of a new $150 billion wave of global investment in liquefied natural gas-­supply. The Fin

Gas producers reject calls to reserve

Gas producers Santos and Origin have rejected manufacturers calls for domestic gas reservation amid a forecast doubling of gas prices by 2020. The Fin

Rio claim could break records

Rio Tinto could make a $US1 billion insurance claim after a spectacular landslide at its Bingham Canyon copper mine in Utah last month, which if paid out in full would be the largest ever in the global mining sector. The Fin

Blowouts to drive tough message

The oil and gas industry will demand today that politicians of all stripes stop finding ways to hold back the sector and instead focus on developing policies to cement the country's economic future. The West

Top Politics Headlines

Banks to pass on cost of parental leave

The nation’s four major banks are increasingly hostile to the Coalition’s $4.3 billion paid parental leave scheme, warning that shareholders and customers will ultimately pay for the $400 million-plus cost to the industry. The Aus

Perth pays to keep rural power price down

Households in Perth and the South West are facing further electricity price rises after the Barnett government increased the cross-subsidy paid to remote power companies by almost $170 million. The West

Ford exit threatens Japan trade deal

Labor is pushing back against Tokyo's call for Australia to cut remaining tariffs on imported Japanese cars as part of a historic free trade deal following last week's Ford shutdown. The Fin

Treasury distances itself from Swan's Reserve Bank raid

Treasurer Wayne Swan ignored advice and warnings from Treasury officials, and reneged on an “in-principle agreement” with the Reserve Bank of Australia when he decided to strip $500 million out of the RBA to save his now abandoned 2012-13 budget surplus goal, newly published Treasury documents reveal. The Fin

Live bets off menu during matches

Julia Gillard has cracked down on showing live betting odds during sporting events, relegated gambling advertisements to play breaks and banned bookmakers such as Tom Waterhouse from broadcasting from venues. The Aus

Top Property Headlines

Skills shortage likely if building booms

The construction and property services industry – the economy's third-biggest employer – faces a skills shortage of 45,000 workers in the next three years because of a forecast rebound in residential building. The Fin

Satterley snaps up Point Cook West site

Perth-based Satterley Property Group has outbid the Australian Government Future Fund to secure the 125-hectare Point Cook West development site west of Melbourne for more than $100 million. The Fin

The West Australian

Page 1: The liquefied natural gas industry says that up to $150 billion in projects could be lost to Australia unless the industrial relations system is overhauled and construction costs are slashed within 18 months.

Page 3: The Health Department cannot detail any action taken against 108 staff a year ago aftger the Auditor-General caught them failing to declare gifts, including international airfares, from pharmaceutical companies.

Page 4: The Abrolhos Islands – the heart of WA's lucrative rock lobster fishery and one of the state's most iconic environmental assets – could be exposed to oil and gas exploration under plans to be unveiled today.

Page 5: Perth businesses are being urged to let employees work from home or stagger commute times in July and August to cope with the biggest service interruption to hit the Perth rail system.

Page 11: Households in Perth and the South West are facing further electricity price rises after the Barnett government increased the cross-subsidy paid to remote power companies by almost $170 million.

Page 14: Bookmakers and television networks have bowed to public pressure and agreed to ban live betting odds from football broadcasts within just two weeks.

Business: The oil and gas industry will demand today that politicians of all stripes stop finding ways to hold back the sector and instead focus on developing policies to cement the country's economic future.

A study of Australia's oil and gas sector has found that less than half of its companies go to the effort of working out their organisation's productivity, despite industry complaining publicly about the high cost of doing business.

The Australian Financial Review

Page 1: The world’s biggest energy companies have warned Australia has less than two years to fix the high cost of building big projects or risk being frozen out of a new $150 billion wave of global investment in liquefied natural gas ­supply.

Labor is pushing back against Tokyo's call for Australia to cut remaining tariffs on imported Japanese cars as part of a historic free trade deal following last week's Ford shutdown.

Page 4: Trade Minister Craig Emerson said Ford Australia should have known its business model – building cars exclusively for the local market – could not be sustained unless it became part of the global supply chain.

Dozens of plastic bags filled with deadly asbestos fibres were left metres away from a Victorian primary school by workers building the national broadband network.

Page 5: The promotion of live odds during sports broadcasts could stop within weeks after television industry bodies signalled they would bow to demands from Prime Minister Julia Gillard for action.

Page 6: Gas producers Santos and Origin have rejected manufacturers calls for domestic gas reservation amid a forecast doubling of gas prices by 2020.

Page 7: The construction and property services industry – the economy's third-biggest employer – faces a skills shortage of 45,000 workers in the next three years because of a forecast rebound in residential building.

Treasurer Wayne Swan ignored advice and warnings from Treasury officials, and reneged on an “in -principle agreement” with the Reserve Bank of Australia when he decided to strip $500 million out of the RBA to save his now abandoned 2012-13 budget surplus goal, newly published Treasury documents reveal.

Page 8: Federal Schools Minister Peter Garrett insists more states will sign up to the Gonski funding reforms but Victorian Premier Denis Napthine has taken a fresh swipe at the negotiating process.

Page 13: Origin Energy is shaping up as the most likely partner for Arrow Energy in Queensland after Origin chief executive Grant King said the two are in talks about a potential expansion of Origin's $24.7 billion Australia Pacific LNG venture.

Page 14: Malaysian industrial conglomerate UMW Holdings has emerged as a bidder for Coates Hire, the equipment hire company jointly owned by Kerry Stokes's Seven Group and private equity firm The Carlyle Group.

Page 15: Telstra's digital media and internet protocol TV boss, Mark Buckman, says the telco won't pay over the odds for exclusive sporting content but remains open to doing a deal with Cricket Australia at the right price.

Rio Tinto could make a $US1 billion insurance claim after a spectacular landslide at its Bingham Canyon copper mine in Utah last month, which if paid out in full would be the largest ever in the global mining sector.

Brockman Mining's application for access to Fortescue Metals Group's Pilbara railway line could help assist with commercial negotiations between the pair, based on the outcome of a similar request more than a decade ago, says iron ore industry veteran George Jones.

Page 36: Perth-based Satterley Property Group has outbid the Australian Government Future Fund to secure the 125-hectare Point Cook West development site west of Melbourne for more than $100 million.

The Australian

Page 1: Australia is missing out on a $100 billion surge in the resources boom as exorbitant costs — including junior tradesmen earning $200,000-plus — force global companies to reconsider their investment plans.

Julia Gillard will use the expected rapid-fire signing of Labor-led Tasmania, South Australia and the ACT to its school funding reforms to build momentum to pressure Coalition states Victoria and Queensland to join the scheme.

The nation’s four major banks are increasingly hostile to the Coalition’s $4.3 billion paid parental leave scheme, warning that shareholders and customers will ultimately pay for the $400 million-plus cost to the industry.

Page 2: Barnaby Joyce will hold off quitting the Senate to avert a pre-election reshuffle of the Coalition frontbench, even though his successor is now in place.

The Liberal Party is trying to kill a growing sense of inevitability about a comfortable Tony Abbott victory at the September election.

Page 3: Julia Gillard has cracked down on showing live betting odds during sporting events, relegated gambling advertisements to play breaks and banned bookmakers such as Tom Waterhouse from broadcasting from venues.

Page 4: A new political row over the cost of switching from analog to digital television has erupted as the Coalition claims that the costs are up to $2 billion already.

Page 5: Australia's 4000 naval shipyard workers will stop work on Wednesday to call on the government to urgently provide more work at the nation’s shipyards to prevent thousands of job losses.

Page 6: The gas industry has slammed claims by a coalition of Australia’s biggest manufacturers that $28 billion in economic value may be wiped out if the government does not intervene to ensure ‘‘competitively priced’’ gas supplies are available to domestic companies.

Wayne Swan will press ahead in parliament this week with key budget cuts such as the abolition of the Baby Bonus and changes to the private health insurance regime as the Gillard government tries to weld the opposition to the measures.

Business: India'sAdani has slammed constant changes to federal environmental laws for increasing risks to investors and demanded that a Greens-led push to block projects along the Great Barrier Reef coastline be dumped after the shelving of $150 billion worth of resources projects.

A ‘‘golden age of gas’’ predicted by the International Energy Agency two years ago faces strong challenges from growing coal use and increasing community concerns, as well as rising costs in Australia, according to the influential chief economist of the world’s energy watchdog.

The Reserve Bank and Treasury are divided over the prospects for business investment, with the March quarter capital investment survey, out Thursday, likely to show which of them is correct.

After a torrid trading week that saw more than $30 billion wiped off local stocks and the Australian dollar slide further, investors will be hoping for some economic cheer from China this week to offset further confirmation that Australia’s resources boom is winding down.

Department store group David Jones is expected to report further weakness in sales for the third quarter as a warm autumn crimps seasonal fashion demand and shoppers fail to respond to interest rate cuts.

The Australian Council of Superannuation Investors has hosed down calls for a co-ordinated campaign to vote against exorbitant executive pay packets, saying corporates are already listening to shareholder concerns.

Wesfarmers is likely to be quizzed this week on its intentions for mining equipment company Coates Hire following reports that Malaysian industrial UMW Holdings has joined the race to buy the asset.

The Daily Telegraph

Page 1: Jarryd Hayne is focused on making sure NSW wins the first State of Origin clash against Queensland next week. Government figures show the people-smuggling industry is worth $400 million.

Page 2: Humpback whales were spotted off the coast of Sydney on Sunday. Senior ALP MPs say Labor officials are delaying polling in key Victorian marginal seats because they fear terrible results.

Page 3: Key elements of the Gonski reforms are under a cloud. An African shaman is predicting NSW will win the first State of Origin game next week.

World: (London) Britain's Prime Minister David Cameron is planning new powers to crack down on Islamic hate preachers.

Business: Many people know how much money they'll need for retirement but are doing nothing to achieve it.

Sport: There will be three new faces taking the field for NSW in next week's State of Origin.

The Sydney Morning Herald

Page 1: Darwin will host the first World Indigenous Network conference next week. Barry O'Farrell reckons Julia Gillard's crackdown on sports betting doesn't go far enough.

Page 2: The NSW Government wants the Kazal family to deal with alleged heritage breaches at buildings it leases in Sydney.

Page 3: The fashion brand Lisa Ho pocketed nearly $200,000 in government subsidies before collapsing. Julia Gillard won't promise $150 million to tackle congestion.

World: One of the suspects in the murder of a British soldier appeared in court in Kenya in 2010 accused of leading a group of Islamists.

Business: ANZ is cutting staff at a call centre in Melbourne, with 70 jobs due to be axed.

Sport: James Maloney will make his Origin debut after being picked by NSW coach Laurie Daly on "gut feeling".