Obama's Asia-Pacific doctrine – The Fin; Crisis gives BHP outlook a bleak tinge – The Aus; PM left Rudd out of uranium loop – The Fin; Unionist's entry permit bid fails – The West; FIRB ultimatum adds to miner's turmoil – The West
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Obama's Asia-Pacific doctrine
Australia's economic fortunes will be tied to an expanded US military presence across the Asia-Pacific in a landmark policy shift announced by US President Barack Obama as a way to guarantee the region's growth. The Fin
Crisis gives BHP outlook a bleak tinge
BHP Billiton has become more pessimistic about the economic outlook amid the worsening financial crisis in Europe, saying it is starting to unsettle big Chinese customers. The Aus
PM left Rudd out of uranium loop
Prime Minister Julia Gillard left Foreign Minister Kevin Rudd out of the consultations on a major shift in foreign policy to allow uranium shipments to India, Mr Rudd confirmed in another sign of strained relations between the two. The Fin
Unionist's entry permit bid fails
Construction unionist Joe McDonald has failed in his bid to get a right of entry permit that would allow him back on building sites, despite his claims he was a changed man. The West
FIRB ultimatum adds to miner's turmoil
Australia's foreign investment watchdog has made a surprise intervention in the controversy surrounding Mount Gibson Iron, warning the Mid West miner and its Chinese backers they will not be allowed to buy any new assets until there is a majority of independent directors on the board. The West
THE WEST AUSTRALIAN:
Page 1: Barack Obama has vowed the US will use all its power to reassert military and economic supremacy in the Asia-Pacific region, angering China and putting Australian at the centre of renewed tension between Beijing and Washington.
Page 4: Former premier Geoff Gallop yesterday attacked the Barnett Government's plan to shift the Corruption and Crime Commission's focus away from public sector misconduct.
Changes to daycare regulations from early next year could push the cost of child care beyond the reach of many parents, the Childcare Association of WA has warned.
Page 7: Chinese defence analysts have condemned what they see as Australia's contribution to the growing security rivalry between the US and China, noting that Darwin is well within range of Chinese ballistic missiles.
Page 13: The future of the Big Day Out remains in doubt after the organisers and the Town of Victoria Park failed to reach agreement this week on a venue.
Page 18: Construction unionist Joe McDonald has failed in his bid to get a right of entry permit that would allow him back on building sites, despite his claims he was a changed man.
Fly-in, fly-out work and spiralling employment demands are robbing WA's bush fire brigades of young members.
Business: Australia's foreign investment watchdog has made a surprise intervention in the controversy surrounding Mount Gibson Iron, warning the Mid West miner and its Chinese backers they will not be allowed to buy any new assets until there is a majority of independent directors on the board.
Seven West Media chairman Kerry Stokes has urged shareholders to look beyond the company's ailing share price to the “first rate prospects” of what he described as the “best performing media business in the country”.
The multi-millionaire founder of iiNet, Michael Malone, was last night named Ernst & Young Australian Entrepreneur of the Year – the second consecutive year a WA businessman has taken out the top gong.
Premier Colin Barnett hopes the signing of a bilateral memorandum of understanding between the State Government and an influential arm of the state-owned Japan Finance Corporation will strengthen investment ties between WA and its second biggest trading partner.
A squeeze on trade finance brought on by Europe's spreading debt contagion has BHP Billiton more worried about the global economy – and the future direction of commodity prices – than it was just a month ago.
Property developer Port Bouvard did its best yesterday to assure shareholders a tumultuous 18-month period was over, and that it was well positioned to move on and tackle its debt.
Northern Star Resources has strengthened its case for being one of the year's standout WA exploration stories, unearthing what it believes to be one of the highest gold grades ever recorded in the Australian gold sector at its Paulsens gold mine in the Pilbara.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: Australia's economic fortunes will be tied to an expanded US military presence across the Asia-Pacific in a landmark policy shift announced by US President Barack Obama as a way to guarantee the region's growth.
The Australian banker with the most invested in Asia has expressed confidence that China will move “sooner than later” towards freeing up interest rates and currencies.
Page 5: Prime Minister Julia Gillard left Foreign Minister Kevin Rudd out of the consultations on a major shift in foreign policy to allow uranium shipments to India, Mr Rudd confirmed in another sign of strained relations between the two.
Page 13: Tougher regulation of coal-seam gas and coal have become the focus of negotiations to secure Parliament's support for the Gillard government's minerals resource rent tax.
Many companies are still unaware of the impact of the carbon tax on their businesses and have been warned quickly to prepare for it to be reflected in their financial accounts.
Amid Japanese concerns about the growing influence of China in Western Australia, Premier Colin Barnett has brokered a trade co-operation deal with Japan's overseas development bank.
Page 14: The federal government's budget is in worse shape than most economists think and heavy cuts will be needed to return it to surplus next financial year, a forecast released today says.
Page 43: Executives from Nine Entertainment Co and its owner, private equity firm CVC Asia Pacific, will meet their bankers today to ask for a two-year extension for the refinancing of the media group's $2.7 billion of senior debt.
Page 44: BlueScope Steel will start consulting with investors and proxy advisers on its 2012 remuneration report as early as January after receiving a stinging rebuke from shareholders yesterday over executive pay.
Kerry Stokes's Seven West Media television, magazine, newspaper and internet group has warned its earnings will slide about 9 per cent during the September 2011 half, thanks to weak advertising markets.
Page 45: BHP Billiton's outlook for the global economy in the near-term had become even more cautious than it was a month ago due to the debt woes in Italy, chairman Jac Nasser said.
Page 53: Mirvac chairman James MacKenzie yesterday scotched fears Australia's fragile housing market is headed for a hard landing despite long-running concerns the sector has overheated.
THE AUSTRALIAN:
Page 1: Barack Obama has pledged that the US will deliver ‘‘a new leadership’’ in the Asia-pacific region to maintain peace, promote democracy and drive economic prosperity.
Widely-held assumptions that climate change is responsible for an upsurge in extreme drought, flood and storm events are not supported by a landmark review of the science.
Page 2: The commodity boom is delivering about $33 billion a year to the government’s revenues, and the budget bottom line would look as bad as that of the US without it.
Page 7: Australia failed to tell the US it was allowing China to use a satellite ground station in Western Australia to assist its space program, despite that program being known to have a military component.
Greens leader Bob Brown has called for federal parliament to debate the increased presence of the US military in Darwin, saying the decision strips Australia of being seen as ‘‘independent players’’ in Asia.
Page 8: Barack Obama’s visit to Australia has attracted big media attention back in the US as the news sinks in that Washington intends to have a boosted, permanent military presence in the north.
Julia Gillard has hailed the ‘‘renewal’’ of the ANZUS alliance as Australia increases military co-operation and forges a deeper strategic engagement with the US in the Asia-pacific.
Business: BHP Billiton has become more pessimistic about the economic outlook amid the worsening financial crisis in Europe, saying it is starting to unsettle big Chinese customers.
Private equity group CVC Asia Pacific’s proposal to renegotiate the terms of Nine Entertainment’s $2.6 billion senior debt pile is expected to be rejected by lenders, with a resolution believed to be unlikely until closer to the February 2013 deadline for the loans.
Seven West Media chairman Kerry Stokes says earnings at the television, newspaper and magazine group will fall almost 10 per cent in the December half due to the weak national advertising market.
Spotless Group’s swift rejection of an indicative $698 million takeover proposal from Pacific Equity Partners has drawn an angry response from major shareholders, who have threatened to spill the board.
China has exerted control over Mount Gibson following the shock departure of managing director Luke Tonkin, as Australia’s Foreign Investment Review Board raises concerns about the lack of independent directors on the iron ore miner’s board.
BHP Billiton chief executive Marius Kloppers has warned that further regulatory delays on the $20 billion-plus Olympic Dam copper, gold and uranium expansion could mean the company looks at other options for its huge cash flows.
Bluescope Steel’s shareholders have lodged a significant protest vote against the decision to pay $3 million in bonuses to senior executives despite a $1 billion loss and job cuts.
Pressure mounted on the European Central Bank to take drastic action to stabilise eurozone bond markets as investors shrugged off the bank’s limited bond buying and European politicians sparred over the ECB’S role in fighting the debt crisis.
Mirvac Group has defused shareholder anger over its chief executive salary package, garnering about 95 per cent support for its remuneration report at yesterday’s annual meeting.
THE SYDNEY MORNING HERALD:
Page 1: US President Barack Obama has vowed to use "every element of American power" to establish security, prosperity and human dignity in the region.
Page 2: Labor powerbroker Joe Tripodi is embroiled in a $100 million land deal dispute.
Page 3: An inquiry has heard Environment Minister Robyn Parker would not return the calls of Orica's CEO a week after the leak of hexavalent chromium at Stockton in August.
World: With almost 4000 Syrian protesters dead in eight months of government attacks, the Arab League has issued a three-day ultimatum insisting that Syria halt the violence or face further economic consequences.
Finance: A squeeze on trade financing brought on by Europe's spreading debt contagion has BHP Billiton more worried about the global economy - and commodity prices - than it was a month ago.
Sport: Tiger Woods has suffered a crushing loss as he came face-to-face with his former caddy.
THE DAILY TELEGRAPH:
Page 1: Foreign Minister Kevin Rudd has said he was never consulted over Prime Minister Julia Gillard's bid to sell uranium to India, which overturns the ban he introduced when he was prime minister.
Page 2: Just days after a chemical leak at Orica's Newcastle plant Environment Minister Robyn Parker was "too busy" to take phone calls from Orica's CEO, a parliamentary inquiry has heard.
Page 3: Pubs shamed under the new "three strikes and you're out" legislation could have bank loans withdrawn on the spot - even after the first offence.
World: Italy's new government, led by Prime Minister Mario Monti and charged with saving the country from financial meltdown, has been sworn in.
Sport: Tiger Woods shook hands with caddy Steve Williams before and after their shortened round - the first time the two have been seen together in public since Williams called Woods a "black arsehole".
THE CANBERRA TIMES:
Page 1: US President Barack Obama rebukes China for failing to uphold international norms and its disregard of human rights.
Page 2: USA here to stay as world power shifts to Asia-Pacific.
Page 3: Military experts disagree over plans to station more US troops in northern Australia.
World: Arab leaders give Syria's President Bashar al-Assad three days to stop his repression of anti-regime protests.
Finance: Mining giant BHP Billiton becomes more wary about world outlook for commodities on concerns about Europe's debt woes ripple through the global economy.
Sport: The Internationals team blow chance of a strong start against the US on the first day of golf's Presidents Cup.
THE COURIER MAIL:
Page 1: The bill for the defunct Traveston Dam have almost topped $500 million with properties bought by the Bligh government now worth just half of what they were bought for.
Page 3: A family in Brisbane is in a battle that mimics the Australian movie The Castle, although they're fighting the expansion of a waste transfer station and not an airport.
Page 7: Bruce and Denise Morcombe have been named Queensland Australians of the Year.
World: Key figures within Iran's elite Revolutionary Guard are involved in international drug trafficking says a source cited in The Times.
Business: BHP Billiton has become wary about the global outlook for commodities as Europe's debt problems start to worry its big Chinese customers.
Sport: Australian golfer Adam Scott inspired a huge win over Tiger Woods but the US lead the Internationals after the first day of the Presidents Cup at Royal Melbourne.
THE ADELAIDE ADVERTISER:
Page 1: President Obama has signalled a major strategic shift of US defence resources away from the Middle East.
Page 3: Holden Hill magistrates court could shut because of a proposal to cut $3.8 million from the justice budget.
World: British youth unemployment is creating a lost generation.
Business: BHP Billiton says SA has to ratify the Olympic Dam indenture agreement before Christmas for the project to stay on track.
Sport: Crows fans won't see a team at Adelaide Oval until 2014.