Speaker coup shifts power to PM – The Aus; Shattered Margaret River faces third day of fire hell – The West; Business launches broadside at IR laws – The Aus; Elphinstone acts as National Hire spoiler – The West; Rio argues for fly-in, fly-out flexibility – The Fin
Speaker coup shifts power to PM
Julia Gillard has snared a crucial extra vote on the floor of parliament but faces opposition claims she engineered the resignation of Harry Jenkins as Speaker in a grubby deal to replace him with renegade Liberal Peter Slipper. The Aus
Shattered Margaret River faces third day of fire hell
Margaret River was last night bracing for a third day of fire chaos as pointed questions were asked of authorities as to why a controlled burn was contemplated ahead of such catastrophic fire conditions. The West
Business launches broadside at IR laws
The nation’s peak business group has toughened its stance against Labor’s Fair Work Act, warning the laws are allowing unions to make ‘‘destructive’’ demands on matters that have no relevance to pay and working conditions. The Aus
Elphinstone acts as National Hire spoiler
Tasmanian investor Dale Elphinstone has stared down billionaire Kerry Stokes, giving his strongest signal yet that he will not be selling out of National Hire Group, despite Seven Group raising its bid to mop up the company. The West
Rio argues for fly-in, fly-out flexibility
Mining giant Rio Tinto has backed calls for improved financial assistance for local councils in mining areas and for greater incentives for workers and non-resources businesses to move to remote areas. The Fin
THE WEST AUSTRALIAN:
Page 2: Margaret River was last night bracing for a third day of fire chaos as pointed questions were asked of authorities as to why a controlled burn was contemplated ahead of such catastrophic fire conditions.
Page 3: Premier Colin Barnett has conceded the need of an inquiry into the Margaret River fire and confirmed that a prescribed burn-off “went wrong”.
Page 7: The Department of Environment and Conservation knew it would struggle to contain an escaped fire to the south of its Ellensbrook controlled burn zone because of old and excessive fuel loads, official documents reveal.
Page 9: Julia Gillard has bolstered Labor's chances of retaining government until at least 2013 after engineering an extraordinary coup that saw an Opposition MP installed as Speaker of the House of Representatives.
Page 13: The dream of creating an iron ore province in WA's Mid West received a shot in the arm yesterday when Japanese giant Mitsubishi threw more muscle at the infrastructure project which underpins the plan.
In a major backflip, the Transport Workers Union has scrapped plans for a Federal Court challenge to the Qantas grounding, averting potential strikes over Christmas.
Page 14: Treasurer Christian Porter has denied that the blowout for the state government's solar panels subsidy scheme will reach anywhere near $500 million.
Page 19: Country football clubs are at risk of collapse under the weight of increasing player payments and a decreasing rural population, according to a report.
Business: Japan's Mitsubishi is expected to chase China to help fund its $10 billion plan for WA's Mid West after tabling a $325 million deal to seize control of the Oakajee infrastructure project.
David Jones has posted its biggest quarterly sales slump in recent memory, doubling the first quarter plunge of rival Myer.
Tasmanian investor Dale Elphinstone has stared down billionaire Kerry Stokes, giving his strongest signal yet that he will not be selling out of National Hire Group, despite Seven Group raising its bid to mop up the company.
A High Court appeal by Fortescue Metals and its chairman, Andrew Forrest, requires three construction agreements with Chinese companies to be read in a way that is “so uncommercial and so unlikely” that the appeal must fail, the corporate regulator argued in submissions filed with the court.
A voluntary 25 per cent pay cut by Paladin Energy chief executive John Borshoff was not enough to stop about 17 per cent of shareholders voting against the uranium miner's remuneration report at its annual meeting yesterday – the latest in a series of protest votes against WA companies.
The eurozone debt crisis has entered a dangerous new phase, with investors shying away from what was previously gold-plated German debt, and analysts blaming stalled growth in Europe for China's recent industrial slowdown.
Westpac chief executive Gail Kelly yesterday declared she was determined to see though the next leg of a three-year reform program as she named ex-ANZ senior executive Brian Hartzer to head a new, bulked-up domestic business.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: The minority Labor government has strengthened its grip on power after it installed Liberal defector Peter Slipper as Speaker following the shock resignation of Labor MP Harry Jenkins from the job.
Labor's “seriously flawed” Fair Work Act was the biggest single economic issue facing the nation, the new president of the Business Council of Australia, Tony Sheperd, said.
Page 5: Rigid rules stopping companies from using tax losses if they change ownership or their line of business could be turfed under options being considered by the federal government's new business tax working group to help reduce the number of collapses.
Page 14: Employers attacked the Gillard government's superannuation policy after a national meeting of business groups that discussed the added cost of extra super contributions.
Page 16: Mining giant Rio Tinto has backed calls for improved financial assistance for local councils in mining areas and for greater incentives for workers and non-resources businesses to move to remote areas.
Page 17: Leading business figures have described the government's “two-strikes rule” on executive remuneration as “destabilising” and “ridiculous”, and say that recent steps to improve disclosure on salaries have only increased executive pay.
Page 20: Business leaders are increasing pressure on governments across Australia to consider setting up sovereign wealth funds after Queensland Premier Anna Bligh and new Liberal Senator Arthur Sinodinos both endorsed such schemes.
Page 23: The Transport Workers Union has ruled out mounting its own legal challenge to the termination of industrial action at Qantas, while pledging to seek a single award covering the aviation industry next year.
A West Australian resource services group is the latest to heap criticism on the federal government's industrial relations regime after a lengthy campaign of strikes.
Page 25: Some of Australia's top wineries have narrowly escaped significant damage from bushfires that have claimed up to 20 homes in Western Australia's south.
Western Australia has fired a salvo at Queensland in a battle between the resource rich states for workers – a West Australian minister has claimed that miners are paid on average $21,000 more in WA than in the Sunshine state and that people should head west to fill a looming skills shortage.
Former property tycoon Warren Anderson has lost his battle to overturn his bankruptcy on the same day he relinquished his prized NSW mansion.
Page 50: Tasmania's richest man, Dale Elphinstone, has given the strongest indication yet that he will continue rebuffing efforts by Kerry Stokes to buy him out of equipment rental company National Hire.
Japan's Mitsubishi Corporation has opened the $6 billion Oakajee port and rail project in Western Australia after buying out struggling joint venture partner Murchison Metals.
Page 53: Six more listed companies have received a “strike” from investors over their executive pay policies, resulting in a total of 39 companies that will face a board spill next year.
THE AUSTRALIAN:
Page 1: Julia Gillard has snared a crucial extra vote on the floor of parliament but faces opposition claims she engineered the resignation of Harry Jenkins as Speaker in a grubby deal to replace him with renegade Liberal Peter Slipper.
The nation’s peak business group has toughened its stance against Labor’s Fair Work Act, warning the laws are allowing unions to make ‘‘destructive’’ demands on matters that have no relevance to pay and working conditions.
Dramatic forecasts of global warming resulting from a doubling of atmospheric carbon dioxide have been exaggerated, according to a peer-reviewed study by a team of international researchers.
Page 2: The Transport Workers Union has backed away from threats to challenge a ban on industrial action against Qantas, leaving the airline free of strikes by three unions for up to four years.
Kevin Rudd’s overseas travel as Foreign Minister has cost the taxpayer nearly $700,000 in a six-month period, nearly a quarter of a million dollars more than Julia Gillard’s travel expenses as Prime Minister.
Page 3: The Barnett government has implemented just nine of 55 recommendations put forward by former federal police chief Mick Keelty to avoid another fire disaster now unfolding in the state’s south west.
Page 8: The OECD has backed a market-based mechanism as the best way to cut carbon pollution even as it warns greenhouse gas emissions are set to increase by 50 per cent by 2050 without more ambitious policies than those in force today.
Business: Fairfax Media chairman Roger Corbett has labelled Kerry Stokes’s claims about the company as neither ‘‘justified or appropriate’’ and apologised to the Fairfax family for what he described as their unhappy investment in the media group, sold earlier this month for a $900 million loss.
Japan's Mitsubishi will attempt to sell a 50 per cent stake in the $5.94 billion Oakajee port and rail project in Western Australia to Chinese interests after unveiling a deal to buy Murchison Metals’ share of the troubled infrastructure development.
Westpac chief executive Gail Kelly has ordered an extensive reshuffle of the bank’s key businesses and executives that locks in a succession plan and also positions the bank for more job cuts as revenue growth slows.
Department store chain David Jones has posted its biggest fall in quarterly sales since listing on the stockmarket 11 years ago, as wealthy customers respond to global market volatility by reining in their spending.
Australia's largest banks will continue to build their advantage over smaller rivals with mortgage discounts next year as lending growth remains at a 20-year low
THE HERALD SUN:
Page 1: The Liberal turncoat who struck a deal to become parliament's new Speaker is being investigated over "extraordinary" spending on taxpayer-funded travel.
Page 3: The new woman in Geelong star Josh Hunt's life has taken a swipe at his ex over an angry email that went viral.
Page 5: The federal government will withhold more than $2100 in tax benefits for families who refuse to vaccinate their children.
Business: Woolworths has vowed to continue rolling out stores despite sailing into some of the worst retail headwinds veteran board members have seen.
Sport: New AFL club Greater Western Sydney dominated the national draft, picking key forward Jonathon Patton with its first pick.
THE COURIER MAIL:
Page 1: Peter Slipper has become a political rat for turning his back on his electorate for extra money and prestige.
Page 3: One of Brisbane's most prestigious schools will admit students on sporting merit despite attacking rugby scholarships last year.
Page 7: A Brisbane barrister says he is ashamed and disgusted at the University of Queensland nepotism scandal and has urged police to investigate.
World: China says its naval exercises in the Pacific Ocean are routine.
Business: Woolworths and David Jones expect retail sales pain to continue well into 2012.
Sport: Teenage bowling hero Pat Cummins is carrying an injury and is in doubt for next week's opening Test cricket match against the New Zealand at the Gabba.
THE ADELAIDE ADVERTISER:
Page 1: More than 13,000 dogs and cats were destroyed in South Australian shelters last year as their owners abandoned, neglected or failed to microchip their pets.
Page 1: The Liberal turncoat who accepted Julia Gillard's support to become parliament's speaker is being investigated over his `extraordinary' spending on taxpayer funded travel.
Page 3: A state liberal backbencher who called Julia Gillard a "real dog" will be counselled by opposition leader Isobel Redmond.
World: China insists the naval exercises it is conducting in the Pacific this month are pre-arranged routine drills, despite being announced a week after a major campaign by President Barack Obama to assert the US as a Pacific power.
Business: Beach Energy is looking to a place in the ASX100 index, which should provide the Adelaide company with a share price boost.
Sport: Port Adelaide has got its man, securing SA under-18 captain Chad Wingard.