Huawei ban might deter investors
China’s top commercial diplomat has warned that continued limits of technology company Huawei’s operations could discourage other Chinese companies from investing in Australia, as Opposition Leader Bill Shorten joined the security row by demanding briefings from intelligence chiefs. The Fin
Rudd ‘brought Labor 25 more seats’
Kevin Rudd saved 25 seats for Labor after taking over the leadership from Julia Gillard on the eve of the September 7 election and left the party in a position to rebuild quickly to challenge Tony Abbott. The Aus
Office to probe MPs’ perks
Tony Abbott could be forced to look again at the broken system of MPs’ entitlements, with the Government’s powerful audit office poised to probe politicians’ perks. The West
Labor shifts carbon focus
Labor has softened its rhetoric on repeal of the carbon tax as it seeks to shift the debate to the Abbott government’s lack of commitment to a cap on carbon emissions and to questions about its direct action plan. The Fin
Chevron seeks bigger bite out of Barrow
Chevron has backtracked on promises that it would not require any extra land for its $52 billion Gorgon LNG project on environmentally fragile Barrow Island, with the company asking for permission to expand its footprint by more than 10 per cent. The Aus
States resist Coalition childcare moves
Coalition states have rebuffed attempts by the Abbott government to slow down national childcare reforms, but the new federal minister says she has won the battle to simplify reporting and relieve the ‘‘red tape burden on providers’’. The Aus
No handout to help Griffin
Premier Colin Barnett has flatly ruled out royalty concessions to bail out struggling coal miner Griffin despite conceding concerns about the Indian-owned company’s parlous financial position. The West
Power merger cost kept secret
Energy Minister Mike Nahan cannot say how much recombining Verve and Synergy will cost or how much it will save – but insists the merged power company will be better for taxpayers than the existing arrangements. The West
The Australian Financial Review
The Reserve Bank of Australia should have stopped cutting official interest rates at least 12 months ago, said a prominent former board member after governor Glenn Stevens admitted “some” recent property market gains may be unsustainable.
Opposition to US agriculture giant Archer Daniels Midland’s $3 billion bid for big grain handler GrainCorp has hardened among Nationals and country Liberal MPs, with some warning the sale could create a virtual monopoly that would hurt grain growers.
Page 3: China’s top commercial diplomat has warned that continued limits of technology company Huawei’s operations could discourage other Chinese companies from investing in Australia, as Opposition Leader Bill Shorten joined the security row by demanding briefings from intelligence chiefs.
Page 4: Labor infighting left it “unworthy” of election in a 2013 campaign which had effectively been lost before it officially began, according to ALP national secretary George Wright.
Prime Minister Tony Abbott’s popularity is at its highest level since taking over as Liberal leader in 2009, according to the latest opinion poll.
Page 5: Labor has softened its rhetoric on repeal of the carbon tax as it seeks to shift the debate to the Abbott government’s lack of commitment to a cap on carbon emissions and to questions about its direct action plan.
Page 6: The Reserve Bank of Australia has indicated it might not have been robust enough to pay dividends to the government for the best part of a decade had Treasurer Joe Hockey failed to inject $8.8 billion into its capital reserves.
Page 7: Australia and New Zealand Banking Group chief Mike Smith has called on the federal government to consider scrapping the “four pillars policy” that prevents mergers between the major banks as Treasurer Joe Hockey gets set to conduct a major inquiry into the financial system.
Page 9: The Abbott government will make it easier for international students to study in Australia by simplifying the visa application rules.
Page 17: ANZ Banking chief Mike Smith has blasted critics of his push into Asia that helped fuel a record annual profit of $6.5 billion, but admitted he may be force to change tack by selling out of stakes in foreign banks.
Page 19: Nine Entertainment Co will issue $275 million worth of new shares to pay down debt as part of a coming float, while the total amount of funds raised is likely to be supported by the company’s smaller shareholders selling down up to 50 per cent of their holdings.
Page 30: The Australian sharemarket closed lower as falls in the stock of Commonwealth Bank of Australia, BHP Billiton, Rio Tinto and Brambles weighed heavily.
Page 39: Stockland chairman Graham Bradley has defended the board’s decision to pay a 24c dividend in 2013 and maintain it for 2014, despite the figure being above Stockland’s payout target.
The Australian
Page 1: The supermarket giants will be put on notice over harsh bargaining tactics that damage food producers as the Abbott government vows to help the ‘‘fragile’’ industry fight back against cheap imports.
The government’s proposed new building watchdog will have powers to pursue heavy financial penalties against unions for unlawful conduct even after a union has reached a settlement with an employer, reversing contentious changes introduced by Labor.
Page 2: The Climate Change Authority will today recommend a major increase in the national emissions reduction target for the rest of the decade.
Page 3: More young people are finishing Year 12, and more are studying full-time after leaving school, but the proportion of 17- to 24-year olds with a full-time job has fallen over the past five years.
Page 4: Kevin Rudd saved 25 seats for Labor after taking over the leadership from Julia Gillard on the eve of the September 7 election and left the party in a position to rebuild quickly to challenge Tony Abbott.
Page 5: Coalition states have rebuffed attempts by the Abbott government to slow down national childcare reforms, but the new federal minister says she has won the battle to simplify reporting and relieve the ‘‘red tape burden on providers’’.
Page 17: ANZ chief executive Mike Smith has called the bottom for the non-mining economy and flagged an imminent uptick in activity as he staunchly defended the bank’s six-year journey to become a major player in Asia.
Japanese-owned brewing and dairy major Lion has become the kingmaker in the race to acquire Warrnambool Cheese & Butter, snatching a 10 per cent stake in a sharemarket raid yesterday but signalling it won’t proceed with a full takeover offer.
Page 18: Angry shareholders described engineering company UGL as ‘‘a sinking ship’’ at its annual general meeting yesterday as the company’s board came under attack for its poor performance and plans to spin off its property arm.
Chevron has backtracked on promises that it would not require any extra land for its $52 billion Gorgon LNG project on environmentally fragile Barrow Island, with the company asking for permission to expand its footprint by more than 10 per cent.
The newly appointed independent directors at Chinese-controlled cash box Moly Mines were holding takeover talks with the company’s now-departed board just months ago, The Australian can reveal.
Page 25: Selling HECS debt is a ‘‘stupid idea’’ that would raise costs for students and leave taxpayers out of pocket, the opposition has warned.
The West Australian
Page 3: Tony Abbott could be forced to look again at the broken system of MP’s entitlements, with the Government’s powerful audit office poised to probe politicians’ perks.
Page 5: Colin Barnett says the State Government could buy the former Esplanade Hotel site in Albany within three months.
Page 8: An international white paper says driverless cars could become a reality “sooner than you think”, prompting local calls for WA to get involved.
Former Prime Minister Kevin Rudd’s so-called “troppo tax” has been quietly consigned to the political dustbin by Labor.
Page 14: The Barnett Government may pay higher prices to Collie’s struggling coal miners in a move that could push up power bill for householders.
Page 18: Labor will stick with carbon pricing as a key party policy even if it offers to conditionally support Tony Abbott’s repeal of the carbon tax.
Page 19: Energy Minister Mike Nahan cannot say how much recombining Verve and Synergy will cost or how much it will save – but insists the merged power company will be better for taxpayers than the existing arrangements.
Business: Premier Colin Barnett has flatly ruled out royalty concessions to bail out struggling coal miner Griffin despite conceding concerns about the Indian-owned company’s parlous financial position.
Wesfarmers chief Richard Goyder says Australia’s supermarket trade it not a duopoly controlled by his company’s Coles subsidiary and rival Woolworths, and online giant Amazon is a far greater threat to local retailing.
WA’s Department of Agriculture and Food has defended its failure to meet key performance indicators amid budget and staff cuts.
KPMG’s global chairman says Australian companies have been slow to ready themselves to take advantage of the proposed ASEAN free trade zone.
Brookfield Multiplex has confirmed its selection as the preferred contractor to build Crown Perth’s $570 million six-star hotel.