Carbon tax threatens green cash – The Fin; Investors brace for eurozone failure – The Aus; Inpex puts Ichthys licence push on ice – The West; Ferguson widens rift with Greens – The Aus; States in danger over work safety – The Fin
Carbon tax threatens green cash
State governments are under pressure to rein in the explosion of costly renewable energy incentives with the introduction of Labor's carbon pricing scheme from mid next year. The Fin
Investors brace for eurozone failure
Investors are bracing for the next perilous turns in the financial crisis, with growing fears Italy will default on its debt, tearing apart the troubled eurozone and sending shockwaves through the global economy. The Aus
Inpex puts Ichthys licence push on ice
Japan's Inpex and France's Total have put on hold an application to the WA government for the grant of production licences for their Ichthys LNG project, throwing into doubt whether the partners will be able to deliver the ambitious $30 billion development. The West
Ferguson widens rift with Greens
Energy Minister Martin Ferguson has slammed the Greens as ‘‘living in fantasy land’’ for advocating that Australia could abandon non-renewable energy sources within a decade, saying the ‘‘simple fact is that renewable energy is currently more expensive than other energy sources’’ . The Aus
States in danger over work safety
Business has urged the states to move faster to harmonise occupational health and safety laws after the federal government threatened to withhold more than $100 million from Victoria and Western Australia if they did not adopt the new laws. The Fin
THE WEST AUSTRALIAN:
Page 1: US President Barack Obama is to announce that the US will begin rotating marines through an Australian army base in Darwin in a permanent new military presence, intensifying the alliance in a sign of heightened concern about China.
Australia were bowled for their lowest score in 109 years when South Africa rolled them for 47 in Cape Town.
Page 3: Perth's streets should be blanketed with up to 50 hidden speed cameras to cut fatal crashes and hoon driving, the state government's chief adviser on speed enforcement said yesterday.
Page 4: The Australian sharemarket had its biggest fall in five weeks yesterday as Europe's debt crisis engulfed Italy, raising the spectre of another meltdown of financial markets and deep recession on the continent.
Page 9: Increased iron ore royalty rates for mining giants BHP Billiton and Rio Tinto were introduced into state parliament yesterday in a move that will funnel and extra $1.9 billion into state coffers in the next three years.
Page 10: Travel chaos could return over Christmas after the Qantas long-haul pilots union reignited its dispute through a federal court challenge to Fair Work Australia halting its protected industrial action.
Page 11: Households in Ellenbrook are Perth's worst water offenders, according to figures that show the suburb had more than twice as many sprinkler ban breaches than any other.
Page 12: Thousands of Australia's lowest-paid workers doing some of its most valuable work are in line for a $2 billion boost from a landmark pay equity case – but will have to wait six years for the full increase.
Page 17: The WA Supreme Court is to become the centrepiece of Perth's Old Treasury Buildings redevelopment, easing the court's accommodation woes after years of lobbying by successive chief justices.
Business: Japan's Inpex and France's Total have put on hold an application to the WA government for the grant of production licences for their Ichthys LNG project, throwing into doubt whether the partners will be able to deliver the ambitious $30 billion development.
Italy is forcing Europe to choose between increased bond buying by the European Central Bank or possible break-up of the euro.
The Barnett government's new lobbying laws are discriminatory, unsophisticated and could be open to legal challenge, the Premier's former top media director says.
Extract Resources shareholders should know within a month if there $2 billion-plus Chinese takeover bid on the table.
Gindalbie Metals chairman George Jones has ruled out a return to equity markets after flagging a three-month delay to the group's flagship magnetite project – the latest in a string of cost and timetable blowouts for the Mid West's emerging iron ore industry.
The soaring gold price has been good to GR Engineering in its first seven months as a listed company.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: State governments are under pressure to rein in the explosion of costly renewable energy incentives with the introduction of Labor's carbon pricing scheme from mid next year.
The Italian debt crisis sent markets reeling and threatened to split the euro zone as leaders struggled for a circuit-breaker to stop surging interest rates from pushing the world's third largest borrower into default.
The Fairfax family has severed its ties with the media company that bears the same name, selling the vast majority of its shares in Fairfax Media for $194 million.
Page 3: Business has urged the states to move faster to harmonise occupational health and safety laws after the federal government threatened to withhold more than $100 million from Victoria and Western Australia if they did not adopt the new laws.
Page 4: Prime Minister Julia Gillard moved last night to rebuild Labor's ties with business by promising to include company leaders in future reforms, as she vowed to keep control of federal spending in order to make room for interest rate cuts.
Page 6: Disgruntled small miners will launch a national ad campaign today in a desperate attempt to change the federal government's mining tax.
Page 8: Unemployment is expected to rise despite an increase in the number of full-time positions because the economy isn't growing fast enough to meet demand from job seekers.
Page 9: Job seekers in Western Australia have three times the chance of finding a job as those in NSW, highlighting a huge imbalance that has developed in the national labour market stemming from the resources boom.
Page 11: Failure to reach an agreement between developed and developing countries over the future of the Kyoto protocol next month could throw into doubt the sustainability of the Australian carbon price scheme, climate change experts have warned.
Page 18: Reports are emerging from Brussels that Germany and France have begun preliminary talks on a break-up of the euro zone, amid fears that Italy will be too big to rescue.
Page 44: QR National is holding discussions with “a range of players” in Western Australia as it evaluates establishing a rail network to haul iron ore in the state's Pilbara region, chief executive Lance Hockridge said.
Alcoa is prepared to slash its aluminium production if conditions in the market deteriorate, amid estimates that one-quarter of the world's production of the metal is loss-making.
Page 46: China Guangdong Nuclear Power Corp last night lowered the proposed offer price for Extract Resources' largest shareholder, London-listed Kalahari Minerals, for the second time in six months.
THE AUSTRALIAN:
Page 1: Employers have warned that a historic $2 billion equal pay deal between Julia Gillard and the union movement needs to be quarantined from the rest of the economy to avoid fuelling inappropriate wage claims.
The Fairfax family name is again divorced from the 170-year-old newspaper company after John B. Fairfax yesterday dumped his family’s remaining stake for a fraction of its value just four years ago.
Financial markets throughout Asia plunged yesterday on fears the escalating European debt crisis will start to infect the region.
Energy Minister Martin Ferguson has slammed the Greens as ‘‘living in fantasy land’’ for advocating that Australia could abandon non-renewable energy sources within a decade, saying the ‘‘simple fact is that renewable energy is currently more expensive than other energy sources’’ .
Page 2: Sharemarkets across Asia have plunged on fears financial contagion will spread the European crisis throughout the region.
Australia risks serious damage from the euro credit crisis, former Liberal Party leader Brendan Nelson warned in Brussels yesterday, although he predicted European leaders would get the credit crunch under control.
Page 3: President Barack Obama will announce an accord for a new and permanent US military presence in Australia when he visits next week, with Darwin slated for a stepped-up American presence.
Page 8: Mining companies will today launch a fresh advertising campaign against the Gillard government’s resources tax in a last-ditch bid to convince federal independent MPs to vote down the legislation or insist on amendments that protect junior miners.
Page 9: Carbon farming in Australia has taken a big leap forward with a Japanese clothing company becoming the first to establish a zero-carbon program linking the sheep’s back directly to the suit rack.
Page 12: The European credit crisis reached an ominous new level yesterday when the Italian government's cost of borrowing reached unsustainable levels and signs emerged that even France was slipping into financial strife.
Business: Investors are bracing for the next perilous turns in the financial crisis, with growing fears Italy will default on its debt, tearing apart the troubled euro zone and sending shockwaves through the global economy.
Gindalbie Metals’ Mid-west iron ore project in Western Australia has been hit with a three-month delay after critical supplies for the $2.57 billion construction project have stalled because of the Thailand floods.
Rare-earths miner Lynas has had the ownership of its Malawi project thrown into doubt after a third party claimed it had rights to the asset.
Australia needs to brace for a sharp slowdown in Chinese growth in coming months, with falling exports and imports last month adding to concerns about an already slowing economy.
Hong Kong’s Wah Nam is in talks with Brockman Resources’ remaining investors about taking full control of the company, in a deal that could offer cash to executives who declined to accept the original scrip bid.
THE SYDNEY MORNING HERALD:
Page 1: Barack Obama is to announce that the US will begin rotating Marines through an Australian base in Darwin in a permanent new military presence, intensifying the alliance in a sign of heightened concern about China.
Page 2: Motorists on the M5 would probably need to pay an extra toll of between $3.50 and $5 if the state government builds another tunnel on the M5 East near Bexley, according to analysis from an investment bank.
Page 3: The Orica plant near Newcastle has been effectively shut down following the serious ammonia leak, which caused two people to be hospitalised, as Premier Barry O'Farrell said he has "absolutely no confidence" in the company.
World: A reputed al-Qaeda chieftain has emerged from the shadows of CIA confinement and interrogation to face charges that carry the death penalty as the alleged engineer of the 2000 USS Cole bombing, and received a minimum one-year delay until his murder and terrorism trial date.
Business: Another rout has swept global stock markets as investors tried to come to grips with the implications of a euro collapse.
Sport: Canterbury are prepared to wait right up until the start of next season to install Des Hasler as coach.
THE DAILY TELEGRAPH:
Page 1: The Orica plant near Newcastle has been shut down.
Page 2: Malcolm Turnbull is openly defying Opposition Leader Tony Abbott over his new direction on gambling policy.
Page 3: A Sydney woman has won $1 million after digging up the money on Bondi Beach as part of a radio competition.
World: An earthquake has hit eastern Turkey, killing at least seven people.
Business: Italy may helped deliver Australians another interest rate cut.
Sport: Des Hasler has been banned from speaking to his players, fellow Manly officials and the media.
THE AGE:
Page 1: New ASIC chairman linked to bank Societe General, which is accused of breaking corporate laws during the sub-prime mortgage crisis in the US.
Former detective Paul Dale committed to stand trial over allegations of misleading evidence in the murder of a police informer and his wife.
Rumours of a eurozone break-up startles world markets. Radio station MTR on the skids.
Page 3: Pilots launch challenge to Fair Work Australia's termination of protected industrial action. Marriage and city living the key to a long life, ABS figures show. Thousands to tie the knot on Remembrance Day.
World: Libyan senior Muslim figures look to Turkey and Tunisia for a model of new government rule.
Business: Shares tumble as investors come to grips with the risk of a euro collapse.
Sport: Tom Scully happy in his new home at GWS.
THE HERALD SUN:
Page 1: Secret files tell of alleged crooked cop Paul Dale tipping off Carl Williams when police were watching him.
Page 2: Prime Minister Julia Gillard backs union moves to boost pay for 150,000 community workers. Big falls in Europe spark share market plunge.
Page 3: Mum Natalie Perrin chooses 11.11.11 to give birth.
World: Europe's political leaders falling like bowling pins as Berlusconi follows Papandreou.
Business: Europe facing a long, bleak recession that may end the single currency as markets lose faith in Italy's ability to repay debt.
Sport: John Daly implodes at the Australian Open and may have played his last game of golf as he walks off the course mid-game.
THE COURIER MAIL:
Page 1: A $30 billion collapse on the Australian sharemarket has hit superannuation savings and sparked fears of a possible interest rate rise.
Page 3: Australian pilots have launched a landmark legal challenge against a ruling that bans them from industrial action over enterprise bargaining agreement negotiations.
Page 7: Queensland's richest man, Clive Palmer, plans to fight the $30 million carbon tax bill in the Federal Court to protect 1000 jobs at a Townsville nickel refinery.
World: A terrorist suspect will face trial over the 2000 bombing of a US war ship.
Business: Fortescue Metals topped the list of biggest losers when $30 million was wiped from Australian shares.
Sport: Troubled US golfer John Daly has again imploded and may have played his last tournament in Australia after storming off during the Australian Open at The Lakes.
THE CANBERRA TIMES:
Page 1: ACT education minister offers top-up to private teacher salaries. Lyneham High School on alert after canteen worker diagnosed with hepatitis A. ACT government advised private car parking around central Canberra is too cheap and plentiful.
Page 2: More details of US President Barack Obama's trip to Australia revealed, including a dinner at Parliament House, a trip to an ACT primary school and an address to Australian troops in Darwin.
Page 3: The ACT government to begin push for a light rail system for Canberra to be listed as a national infrastructure priority. One-third of workers believe sickies taken are for mental health reasons.
World: Italian President Giorgio Napolitano vows to accelerate economic reforms as the Mediterranean nation struggles to repay its burgeoning debt.
Business: Investors wipe $31 billion from local sharemarket as financial markets raise concerns on Italian debt woes.
Sport: US golfer John Daly storms off course at the Australian Open.
