Living costs stifle confidence – The West; Labor steps up Greens attack – The Aus; Don't fiddle with super, says Cooper – The Fin; Cousins slams gas dealing as 'corrupt' - The Aus; Atlas boss to defy iron ore slump – The Fin
Living costs stifle confidence
A new survey shows consumer confidence among West Australians has plummeted to its lowest level since the global economy almost slipped into depression. The West
Labor steps up Greens attack
Federal Labor will sharpen its attack on the Greens over core policy disputes after weekend elections that heartened ALP supporters angry at the concessions made to their allies in the minority government. The Aus
Don't fiddle with super, says Cooper
The head of the federal government's superannuation review has warned Labor against making a cash grab for $1.4 trillion in retirement savings, saying it would undermine confidence in the system. The Fin
Cousins slams gas dealing as 'corrupt'
Dealings between Woodside and the West Australian government over the $40 billion James Price Point gas hub should be investigated by a royal commission, businessman Geoffrey Cousins said yesterday. The Aus
Atlas boss to defy iron ore slump
Atlas Iron chairman David Flanagan believes the company can defy the pressures facing the iron ore sector and complete a $680 million expansion of its Pilbara operations – potentially without having to seek additional debt funding. The Fin
THE WEST AUSTRALIAN:
Page 4: A new survey shows consumer confidence among West Australians has plummeted to its lowest level since the global economy almost slipped into depression.
The tumbling price of iron ore could cost Australia more than $15 billion in export revenues and punch a $3 billion hole in the Federal Budget.
Page 5: WA's football boom will spark an exodus of fans eastwards this week as supporters of our two AFL teams urge their heroes on in cut-throat semifinals on Friday and Saturday.
Page 6: Households and businesses could be spared water price rises of hundreds of millions of dollars over the next three years as a result of a landmark decision by the utility regulator on electricity charges which is expected to flow through to water.
The Barnett government spend more than $27,000 to come up with the name of its light rail network – and it could have just googled it.
Page 10: Qantas is expected to launch a daily non-stop service between Perth and Auckland as benefits of last week's alliance deal with Emirates start to emerge.
Page 12: WA doctors are calling for the release of an interim report from the federal government's inquiry into fly-in, fly-out workers, claiming its main report is taking so long the mining boom will be over before health concerns are addressed.
Page 16: WA's planning chief and one of the state's biggest property developers have called for federal green tape to be cut, saying project delays in Perth are being compounded by badly designed laws.
Business: Senior Chinese government policy advisers say Beijing is unlikely to have the appetite for the new round of massive spending to boost its slowing economy, casting a shadow over Australian miner's hopes of a near-term rebound in the giant economy.
Power retailer Synergy has attacked claims from rival Perth Energy that it could sell cheaper power to WA business if Synergy's monopoly grip on the sector was loosened.
Ivan Glasenberg, chief executive of the Swiss trading giant Glencore, was left reaching for the smelling salts on Friday when he tore up a friendly merger with mining giant Xstrata at the 11th hour.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: The head of the federal government's superannuation review has warned Labor against making a cash grab for $1.4 trillion in retirement savings, saying it would undermine confidence in the system.
A group of United States distressed debt funds has moved a step closer to taking control of Nine Entertainment Co after receiving a Goldman Sachs proposal to convert part of the media company's $3.8 billion of borrowings into equity.
One of Australia's largest asset managers, the Queensland Investment Corporation, is considering establishing an international resources fund.
Asia-Pacific leaders have agreed to cut trade barriers for environmental products and resist controls on food trade they seek to bolster the region as the world's key driver of global economic growth.
Page 4: A $1.5 billion plan to make the skies safer for Australia's 75 million airline passengers has fallen foul of the federal government's drive to prop up a pre-election budget surplus.
Treasurer Wayne Swan has glossed over growing business concerns about emerging problems in the Australian economy as he prepares to take charge of the government in Parliament in the absence of Prime Minister Julia Gillard, who is on bereavement leave.
Page 6: The Financial Services Council and the federal opposition have stepped up pressure to break the union movement's grip on the $1.4 trillion superannuation industry.
Page 7: Court fees for listed companies will more than double next year in an effort by the federal government to raise $38 million over four years.
Page 13: Atlas Iron chairman David Flanagan believes the company can defy the pressures facing the iron ore sector and complete a $680 million expansion of its Pilbara operations – potentially without having to seek additional debt funding.
Shipping companies bringing goods to and from Australia are forming alliances to combine freight loads and cut costs as deployed capacity exceeds demand for services.
Page 16: New Grange Resources chief executive Richard Mehan has admitted it will be difficult to give the go-ahead to the company's $2.9 billion Southdown magnetite iron ore project if the price for the commodity doesn't rebound.
ExxonMobil and BHP Billiton have brought floating liquefied natural gas back onto table as favoured development option for their large Scarborough field far off the coast of Western Australia, dimming hopes of a deal with either Woodside Petroleum or Chevron for processing the gas.
THE AUSTRALIAN:
Page 1: Federal Labor will sharpen its attack on the Greens over core policy disputes after weekend elections that heartened ALP supporters angry at the concessions made to their allies in the minority government.
The Gillard government is aiming to confront fears over Chinese investment in a sweeping policy plan due for cabinet approval within weeks as Julia Gillard ramps up engagement with Asia.
The maritime union will today launch legal action to try to force the nation’s biggest listed port operator to put on hold the company’s plans to replace employees with machines at Sydney’s Port Botany cargo terminal.
Page 2: Dealings between Woodside and the West Australian government over the $40 billion James Price Point gas hub should be investigated by a royal commission, businessman Geoffrey Cousins said yesterday.
Page 4: The National Broadband Network has a ‘‘natural monopoly’’ and any changes to its ownership structure or competition regime by a Coalition government should be carefully considered, the chairman of the company behind the $37.4 billion project will argue today.
Page 6: Victoria's construction watchdog has warned builders whose staff were allowed to support the Grocon blockade that they risk losing the right to tender for government work worth billions of dollars.
Business: The plunging iron ore price could force a new wave of consolidation among the Pilbara-based operators, as pressure mounts on Andrew Forrest to consider a ‘‘third force’’ tie-up between his Fortescue Metals and Gina Rinehart’s adjacent Roy Hill deposit.
Treasury and the Reserve Bank both expected the jobless rate to be rising by now and have been blindsided by the consistently good monthly labour force reports.
China's fledgling car brands are being wedged between slowing growth at home and a lack of competitiveness in export markets, says a leading independent carmaker.
Company directors are exposing themselves to potential legal liability and reputational risks because of an ongoing communication gap between boards and their tax advisers, according to one of the world’s leading advisers to global corporations on tax and accounting products.
Qantas chief executive Alan Joyce is confident he can convince competition regulators that the travelling public will not suffer as a result of the airline’s alliance with Dubai-based powerhouse Emirates.
Asian multinational companies are poised to give their American and European counterparts a run for their money as they flex their financial muscles and go global, according to the first survey of these companies.
THE SYDNEY MORNING HERALD:
Page 1: Tens of thousands of Australian women with low risk birth complications are undergoing unnecessary medical interventions in private hospitals in a trend which a leading midwifery expert has described as "horrifying".
Page 2: Regional leaders have agreed to cut tariffs on solar panels, wind turbine blades, solar hot water systems and other "environmental goods" in what has been hailed as a shift against protectionist sentiment after global financial turmoil.
Page 3: Premier Barry O'Farrell has vowed not to be intimidated by sectional interests amid rapidly escalating tensions with the private and Catholic schools over budget cuts and accusations his government is betraying its base.
World: In some translations the Russian port city "Vladivostok" is taken to mean "power over the east" and President Vladimir Putin has certainly used a summit of regional leaders and billions of dollars in investment to declare Russia a Pacific player.
Business: Uncertainty about China's ability to stimulate its slowing economy with massive state spending has cast a shadow over Australian miners' hopes of a near-term rebound there.
Sport: Wests Tigers captain Robbie Farah has called on the police and politicians to act after he was the recipient of a distasteful message on Twitter about his late mother.
THE DAILY TELEGRAPH:
Page 1: Chemistry students are graduating to become drug manufacturers, putting knowledge gained at university to illegal use.
Page 2: You called for cheaper power prices and we heard you - and we're still listening.
Page 3: The true cost of the O'Farrell government transport masterplan is now $137 billion - of which there is a $74 billion shortfall, leaked cabinet documents show.
World: Prince William and his wife Catherine will bring their royal star power to South-East Asia and the Pacific as part of a tour marking Queen Elizabeth II's diamond jubilee.
Business: Australians are being offered cash incentives to switch banks as competition for deposits continues to heat up.
Sport: Blake Ferguson is lighting up the fans much like namesake John "Chicka" Ferguson did during the Raiders' heyday.
THE AGE:
Page 1: A grief-stricken Julia Gillard arrives home to be with her family following the death of her father. Top cop urges public transport bosses to run trams and trains until 4am to cut down bashings and get clubgoers home safely. It's not even set up yet but Victoria's new independent anti-corruption commission will face redundancies under the Baillieu government's public service cuts. Defence commission of inquiry hears that troops are flying into battle perched on eskies in ageing helicopters with a dangerous computer glitch.
Page 2: Australia marks the 70th anniversary of the men of the 2/14 Battalion who held back the Japanese in the Kokoda campaign.
Page 3: Coalition leaves open the door to keep in place a Labor deal on a new model of school funding. Study finds that tens of thousands of healthy Australian women with a low risk of birth complications are receiving medical interventions that were once only given as a last resort. Much-needed primary school to be built in South Melbourne. ALP heavyweight Paul Howes calls on Liberals not to preference Greens MP for Melbourne Adam Bandt.
World: Government hides intellectually disabled Christian girl at the centre of Pakistan's blasphemy controversy.
Business: Beijing hasn't got the appetite for a new round of massive spending to boost its slowing economy.
Sport: Essendon moves in on St Kilda free agent Brendon Goddard.
THE HERALD SUN:
Page 1: Links growing between Melbourne's outlaw bikie gangs and established underworld and feared Middle Eastern crime syndicates. Best friend acts as surrogate mum.
Page 2: Wayne Swan acting PM while Julia Gillard takes the week off to grieve after death of her father. Safeguards for journalists protecting their sources do not extend to secret hearings of Victorian state investigative agencies. Study finds children more susceptible to dog attacks because cartoon characters show canines act like humans.
Page 3: Shop thieves say they are stealing because they can't afford food or clothing. Soccer-mad nine-year-old Zac Murfett killed chasing ball onto the road.
World: Two tornadoes hit New York disrupting US Open and knocking out power.
Business: China pledge to boost domestic demand could turn around Australian miners' flagging fortunes.
Sport: Hawthorn plead for Saturday afternoon preliminary final, rather than at night, to give them more time to recover if they go on to grand final.
